[Federal Register Volume 75, Number 126 (Thursday, July 1, 2010)]
[Notices]
[Pages 38096-38097]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-15994]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY: Background. Notice is hereby given of the final approval of a 
proposed information collection by the Board of Governors of the 
Federal Reserve System (Board) under OMB delegated authority, as per 5 
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the Paperwork Reduction Act Submission, 
supporting statements and approved collection of information 
instrument(s) are placed into OMB's public docket files. The Federal 
Reserve may not conduct or sponsor, and the respondent is not required 
to respond to, an information collection that has been extended, 
revised, or implemented on or after October 1, 1995, unless it displays 
a currently valid OMB control number.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Michelle Shore--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.
    Report title: Reporting and Disclosure Requirements Associated with 
the Policy on Payments System Risk.
    Agency form number: FR 4102.
    OMB control number: 7100-0315.
    Frequency: Biennial.
    Reporters: Payment and securities settlement systems.

[[Page 38097]]

    Estimated annual reporting hours: 210 hours.
    Estimated average hours per response: 70 hours.
    Number of respondents: 3.
    General description of report: This information collection is 
mandatory and authorized pursuant the Federal Reserve Act (12 U.S.C. 
248(i) & (j), 342, 248(o), 360, and 464). Also, in order to carry out 
the purposes of the Expedited Funds Availability Act, Public Law 100-
86, 101 Stat. 635 (1985) (codified as amended at 12 U.S.C. 4001-4010), 
the Federal Reserve is given the authority to ``regulate any aspect of 
the payment system.'' 12 U.S.C. 4008(c)(1). Because the self-
assessments are to be publicly disclosed and because the Federal 
Reserve will not collect any information pursuant to this information 
collection beyond what is made publicly available, no confidentiality 
issue arises with regard to the FR 4102.
    Abstract: The FR 4102 was implemented in January 2007 as a result 
of revisions to the Federal Reserve's Payments System Risk (PSR) 
policy. Under the revised policy, systemically important payments and 
settlement systems subject to the Federal Reserve's authority are 
expected to complete and disclose publicly self-assessments against the 
principles and minimum standards in the policy. The self-assessment 
should be reviewed and approved by the system's senior management and 
board of directors upon completion and made readily available to the 
public. In addition, a self-assessment should be updated following 
material changes to the system or its environment and, at a minimum, 
reviewed by the system every two years.
    Current Actions: On April 23, 2010, the Federal Reserve published a 
notice in the Federal Register (75 FR 21293) seeking public comment for 
60 days on the proposal to extend, without revision, the FR4102. The 
comment period for this notice expired on June 22, 2010. The Federal 
Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, dated: June 
28, 2010.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2010-15994 Filed 6-30-10; 8:45 am]
BILLING CODE 6210-01-P