[Federal Register Volume 73, Number 184 (Monday, September 22, 2008)]
[Notices]
[Pages 54595-54597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-22016]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1328]


Privacy Act of 1974; Notice of Two New Systems of Records

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice of two new systems of records.

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SUMMARY: Pursuant to the provisions of the Privacy Act of 1974, notice 
is given that the Board of Governors of the Federal Reserve System 
(Board) proposes to add two new systems of records, BGFRS-37 
(Electronic Applications) and BGFRS-38 (Transportation Subsidy 
Records).

DATES: Comments must be received on or before October 22, 2008. These 
systems of records will become effective November 3, 2008, without 
further notice, unless comments dictate otherwise.

ADDRESSES: The public, OMB, and Congress are invited to submit 
comments, identified by Docket No. OP-1328, by any of the following 
methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments. http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include docket 
number in the subject line of the message.
     Fax: 202/452-3819 or 202/452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.

All public comments are available from the Board's Web site at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted, 
except as necessary for technical reasons. Accordingly, your comments 
will not be edited to remove any identifying or contact information. 
Public comments may also be viewed electronically or in paper in Room 
MP-500 of the Board's Martin Building (20th and C Streets, NW.) between 
9 a.m. and 5 p.m. on weekdays.

FOR FURTHER INFORMATION CONTACT: Brad Fleetwood, Senior Counsel, Legal 
Division, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW., Mail Stop 17, Washington, DC 20551, or (202) 452-3721, or

[[Page 54596]]

[email protected]. For users of Telecommunications Device for the 
Deaf (TDD) only, contact (202) 263-4869.
    In accordance with 5 U.S.C. 552a(r), a report of these systems of 
records is being filed with the Chair of the House Committee on 
Oversight and Government Reform, the Chair of the Senate Committee on 
Homeland Security and Governmental Affairs, and the Office of 
Management and Budget.

SUPPLEMENTARY INFORMATION: The Board has determined that it is 
necessary to create systems of records for electronic applications, 
BGFRS-37 (Electronic Applications) and for transportation subsidy 
records, BGFRS-38 (Transportation Subsidy Records).

BGFRS-37, Electronic Applications

    The Board is implementing Electronic Applications (E-Apps), a Web-
based system for the electronic submission of regulatory applications, 
notices or proposals and related documents to the Federal Reserve 
System (FRS) via the Internet. The purpose of E-Apps is to provide 
external users the ability to submit regulatory applications, notices 
or proposals to the FRS as either scanned documents/images or in their 
native file format, such as MS Word or Excel.
    E-Apps will support the electronic receipt, access, distribution, 
and storage of official documents related to a regulatory filing during 
the processing cycle of a regulatory application, notice or proposal. 
E-Apps also will allow for online review of submitted material, as well 
as for storage and distribution of internally prepared memoranda and 
correspondence. In addition, the contents of most documents placed into 
E-Apps will be full-text indexed, and will allow internal users to 
efficiently search for information while the documents reside in the 
system during an application, notice or proposal's processing life 
cycle.
    E-Apps will, among other things, assist the Board in identifying 
information needed to evaluate various statutory requirements 
applicable to proposed officers, directors, principal shareholders, or 
persons with other similar interests in a depository institution, 
holding company or other entity in connection with our consideration of 
various regulatory applications, notices and proposals to determine 
whether to approve the particular regulatory application or notice. 
Thus, the Board has determined that it is necessary to create a system 
of records for electronic applications.

BGFRS-38, Transportation Subsidy Records

    The Board currently provides employees who commute to work using 
public transportation a nontaxable transportation subsidy. In order to 
administer this program, the Board collects and maintains personal 
information about employees who apply to participate in the program. 
Thus, the Board has determined that it is necessary to create a system 
of records for transportation subsidy records.
    The general routine uses identified in the systems of records below 
are described at 73 FR 24985 (May 6, 2008).
Systems of Records BGFRS-37

System name:
    FRB--Electronic Applications.

System location:
    Board of Governors of the Federal Reserve System, 20th Street and 
Constitution Avenue, NW., Washington, DC 20551.
    Some of the information is collected and maintained, on behalf of 
the Board, by the twelve Federal Reserve Banks.

Categories of individuals covered by the system:
    Persons who are parties to regulatory applications, notices, and 
proposals submitted to the Federal Reserve Board.

Categories of records in the system:
    Name; home address; social security number; telephone number; date 
and place of birth; citizenship; occupation and employment history; 
education and professional credentials; business and banking 
affiliations; legal and related matters; personal financial 
information; and other similar information.

Authority for maintenance of the system:
    Sections 9, 19, 25 and 25A of the Federal Reserve Act (12 U.S.C. 
321-328, 466, 601-604(a) and 611-631); the Change in Bank Control Act 
(12 U.S.C. 1817(j)); Section 18(c) of the Bank Merger Act (12 U.S.C. 
1828(c)); Section 32 of the Federal Deposit Insurance Act (12 U.S.C. 
1831i); Sections 3, 4, and 5 of the Bank Holding Company Act of 1956 
(12 U.S.C. 1842, 1843 and 1844); Section 5 of the Bank Service Company 
Act (12 U.S.C. 1865); Sections 7, 8 and 10 of the International Banking 
Act (12 U.S.C. 3105, 3106 and 3107); Section 208 of the Board's 
Regulation H (12 CFR 208); Section 211 of the Board's Regulation K (12 
CFR 211); Section 212 of the Board's Regulation L (12 CFR 212); Section 
225 of the Board's Regulation Y (12 CFR 225); and Executive Order 9397.

Purpose(s):
    These records are collected and maintained to assist the Board in 
evaluating proposed officers, directors, principal shareholders, or 
persons with other similar interests in a depository institution, 
holding company or other entity in connection with the Board's 
consideration of various regulatory applications, notices and proposals 
to determine whether to approve the particular regulatory application, 
notice or proposal.

Routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    General routine uses A, B, C, D, G, and I apply to this system. 
These records may also be used to disclose certain information to other 
bank and thrift regulatory agencies consistent with the Board's 
information sharing regulation or pursuant to explicit information 
sharing agreements.

Policies and practices for storing, retrieving, accessing, retaining, 
and disposing of records in the system:
Storage:
    Records are stored in paper and electronic form by local Reserve 
Banks during the processing period of the application, notice or 
proposal. Electronic records are stored in the Federal Reserve 
Integrated Records Management Architecture (FIRMA).

Retrievability:
    Records can be retrieved by the name of the individual on whom they 
are maintained.

Safeguards:
    Access to records is limited to those persons whose official duties 
require it. Paper records are secured by lock and key and electronic 
records are password protected.

Retention and disposal:
    All records are retained for 15 years after final action on the 
application, notice or proposal.

System manager and address:
    Office Applications Section, Division of Banking Supervision and 
Regulation, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, NW., Washington, DC 20551.

Notification procedure:
    An individual desiring to learn of the existence of, or to gain 
access to, his or her record in this system of records should submit a 
request in writing to the Secretary of the Board, Board of Governors of 
the Federal Reserve

[[Page 54597]]

System, 20th Street and Constitution Avenue, NW., Washington, DC 20551. 
The request should contain: (1) A statement that it is made pursuant to 
the Privacy Act of 1974, (2) the name of the system of records expected 
to contain the record requested or a concise description of such system 
of records, (3) necessary information to verify the identity of the 
requester, and (4) any other information that may assist in the rapid 
identification of the record for which access is being requested.

Record access procedures:
    Same as ``Notification procedures,'' above.

Contesting record procedures:
    Same as ``Notification procedures,'' above except that the envelope 
should be clearly marked ``Privacy Act Amendment Request.'' The request 
for amendment of a record should: (1) Identify the system of records 
containing the record for which amendment is requested, (2) specify the 
portion of that record requested to be amended, and (3) describe the 
nature of and reasons for each requested amendment.

Record source categories:
    Information is provided by the individual to whom the record 
pertains or the individual's agent (for example, law firms, 
consultants) on regulatory applications, notices or proposals. These 
individuals or agents may aggregate information on individuals or 
groups of individuals by submitting separate biographical/financial 
data for several individuals, and/or including lists or tables that 
contain personal information on multiple individuals (for example, a 
stockholder listing with names, addresses, phone numbers, and social 
security numbers). Information may also be obtained from other Federal 
agencies.

Exemptions claimed for the system:
    Certain portions of this system of records may be exempt from 5 
U.S.C. 552a(c)(3), (d), (e)(1), (e)(4)(G), (H), and (I), and (f) of the 
Privacy Act pursuant to 5 U.S.C. 552a(k)(2).
BGFRS-38

System name:
    FRB--Transportation Subsidy Records.

System location:
    Board of Governors of the Federal Reserve System, 20th Street and 
Constitution Avenue, NW., Washington, DC 20551.

Categories of individuals covered by the system:
    Past and present employees and members of the Board who apply for a 
transportation subsidy.

Categories of records in the system:
    Applications submitted by employees for transportation subsidies, 
which may include name, employee ID number, the last four digits of the 
employee's social security number, home address, current commuting 
pattern and estimated commuting cost, and other information related to 
carrying out activities under the transportation subsidy program.

Authority for maintenance of the system:
    Sections 10 and 11 of the Federal Reserve Act (12 U.S.C. 244 and 
248) and Executive Order 9397.

Purpose(s):
    These records are collected and maintained by the Board in order to 
administer the Board's transportation subsidy program.

Routine uses of records maintained in the system, including categories 
of users and the purposes of such uses:
    General routine uses A, B, C, D, E, F, G, H, and I apply to this 
system.

Policies and practices for storing, retrieving, accessing, retaining, 
and disposing of records in the system:
Storage:
    Records are stored in paper form and electronic form.

Retrievability:
    Records can be retrieved by employee name or ID number.

Access Controls:
    Access to records is limited to those whose official duties require 
it. Paper records are secured by lock and key and electronic records 
are password protected.

Retention and disposal:
    Transportation subsidy applications are destroyed three years after 
a form is outdated or three years after a respective staff member no 
longer actively participates in the program.

System manager and address:
    Chief Financial Officer, Management Division, Board of Governors of 
the Federal Reserve System, 20th Street and Constitution Avenue, NW., 
Washington, DC 20551.

Notification procedures:
    An individual desiring to learn of the existence of, or to gain 
access to, his or her record in this system of records shall submit a 
request in writing to the Secretary of the Board, Board of Governors of 
the Federal Reserve System, 20th Street and Constitution Avenue, NW., 
Washington, DC 20551. The request should contain: (1) A statement that 
it is made pursuant to the Privacy Act of 1974, (2) the name of the 
system of records expected to contain the record requested or a concise 
description of such system of records, (3) necessary information to 
verify the identity of the requester, and (4) any other information 
that may assist in the rapid identification of the record for which 
access is being requested.

Record access procedures:
    Same as ``Notification procedures'' above.

Contesting record procedures:
    Same as ``Notification procedures'' above except that the envelope 
should be clearly marked ``Privacy Act Amendment Request.'' The request 
for amendment of a record should: (1) Identify the system of records 
containing the record for which amendment is requested, (2) specify the 
portion of that record requested to be amended, and (3) describe the 
nature of and reasons for each requested amendment.

Record source categories:
    Information is provided by the individual to whom the record 
pertains.

Exemptions claimed for the system:
    None.

    By order of the Board of Governors of the Federal Reserve 
System, September 16, 2008.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E8-22016 Filed 9-19-08; 8:45 am]
BILLING CODE 6210-01-P