[Federal Register Volume 78, Number 28 (Monday, February 11, 2013)]
[Notices]
[Pages 9691-9694]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-02922]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: Background. On June 15, 1984, the Office of Management and 
Budget (OMB) delegated to the Board of Governors of the Federal Reserve 
System (Board) its approval authority under the Paperwork Reduction Act 
(PRA), pursuant to 5 CFR 1320.16, to approve of and assign OMB control 
numbers to collection of information requests and requirements 
conducted or sponsored by the Board under conditions set forth in 5 CFR 
part 1320 Appendix A.1. 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 instruments 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.

DATES: Comments must be submitted on or before April 12, 2013.

ADDRESSES: You may submit comments, identified by FR G-FIN, FR G-FINW, 
FR

[[Page 9692]]

MSD-4, FR MSD-5, FR 4004, or FR 4198, by any of the following methods:
     Agency Web site: www.federalreserve.gov. Follow the 
instructions for submitting comments at www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: www.regulations.gov. Follow 
the instructions for submitting comments.
     Email: [email protected]. Include the OMB 
control number in the subject line of the message.
     FAX: 202-452-3819 or 202-452-3102.
     Mail: Robert deV. Frierson, 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 
www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, unless 
modified 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 form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 
9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, 725 17th Street NW., Washington, DC 20503 or by 
fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: 
www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: 

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, With Minor Revision, the Following Report

    Report title: Uniform Application for Municipal Securities 
Principal or Municipal Securities Representative Associated with a Bank 
Municipal Securities Dealer; Uniform Termination Notice for Municipal 
Securities Principal or Municipal Securities Representative Associated 
with a Bank Municipal Securities Dealer.
    Agency form number: FR MSD-4; FR MSD-5.
    OMB control number: 7100-0100; 7100-0101.
    Frequency: On occasion.
    Reporters: State member banks, bank holding companies, and foreign 
dealer banks that are municipal securities dealers.
    Estimated annual reporting hours: FR MSD-4, 20 hours; FR MSD-5, 13 
hours.
    Estimated average hours per response: FR MSD-4, 1 hour; FR MSD-5, 
0.25 hours.
    Number of respondents: FR MSD-4, 20; FR MSD-5, 50.
    General description of report: These information collections are 
mandatory pursuant to the Federal Reserve Act (12 U.S.C. 248(a)(1)) for 
state member banks and (12 U.S.C. 3105(c)(2)) for foreign bank branches 
and agencies. Sections 15B(a)-(b) and 17 of the Securities Exchange Act 
(the Act) (15 U.S.C 78o-4(a)-(b) and 78q) authorize the Securities 
Exchange Commission (SEC) and Municipal Securities Rulemaking Board 
(MSRB) to promulgate rules requiring municipal security dealers to file 
reports about associated persons with the SEC and the appropriate 
regulatory agencies (ARAs). In addition, Section 15B(c) of the Act 
provides that ARAs may enforce compliance with the SEC's and MSRB's 
rules. 15 U.S.C. 78o-4(c). Section 23(a) of the Act also authorizes the 
SEC, the Federal Reserve Board, and the other ARAs to make rules and 
regulations in order to implement the provisions of the Act. 15 U.S.C. 
78w(a). The Federal Reserve Board is the ARA for municipal securities 
dealers that are state member banks and their divisions or departments, 
and for state branches or agencies of foreign banks that engage in 
municipal security dealer activities. 15 U.S.C. 78c(a)(34)(A)(ii). 
Accordingly, the Federal Reserve Board's collection of Form MSD-4 and 
MSD-5 for these institutions is authorized pursuant to 15 U.S.C. 78o-4, 
78q, and 78w. Under the Freedom of Information Act, the Federal Reserve 
Board regards the information provided by each respondent as 
confidential (5 U.S.C. 552(b)(6)).
    Abstract: These mandatory information collections are submitted on 
occasion by state member banks (SMBs), bank holding companies (BHCs), 
and foreign dealer banks that are municipal securities dealers. The FR 
MSD 4 collects information (such as personal history and professional 
qualifications) on an employee whom the bank wishes to assume the 
duties of municipal securities principal or representative. The FR MSD 
5 collects the date of, and reason for, termination of such an 
employee.
    Current Actions: On September 13, 2011, the MSRB (MSRB Notice 2011-
54) announced the creation of a new designation of registered person--
Municipal Securities Sales Limited Representative--which is a sub-
category of Municipal Securities Representative. To conform to MSRB 
Notice 2011-54, the Federal Reserve proposes to make a minor revision 
to the FR MSD-4 to add the Municipal Securities Sales Limited 
Representative as a new type of qualification. The proposed reporting 
form, in all other respects, would preserve the structure of the 
current reporting form. Changes to the FR MSD-5 are not required at 
this time.

[[Page 9693]]

Proposals To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, of the Following Reports

    1. Report title: Written Security Program for State Member Banks.
    Agency form number: FR 4004.
    OMB control number: 7100-0112.
    Frequency: On occasion.
    Reporters: State member banks.
    Estimated annual reporting hours: 22 hours.
    Estimated average hours per response: 0.5 hours.
    Number of respondents: 44.
    General description of report: This recordkeeping requirement is 
mandatory pursuant to section 3 of the Bank Protection Act (12 U.S.C. 
1882(a)) and Regulation H (12 CFR 208.61). Because written security 
programs are maintained at state member banks, no issue of 
confidentiality under the Freedom of Information Act normally arises. 
However, copies of such documents included in examination work papers 
would, in such form, be confidential pursuant to exemption 8 of the 
Freedom of Information Act (5 U.S.C. 552(b)(8)). In addition, the 
records may also be exempt from disclosure under exemption 4 of the 
Freedom of Information Act (5 U.S.C. 552(b)(4)).
    Abstract: Each state member bank must develop and implement a 
written security program and maintain it in the bank's records. There 
is no formal reporting form and the information is not submitted to the 
Federal Reserve.
    2. Report title: Notice by Financial Institutions of Government 
Securities Broker or Government Securities Dealer Activities; Notice by 
Financial Institutions of Termination of Activities as a Government 
Securities Broker or Government Securities Dealer.
    Agency form number: FR G-FIN; FR G-FINW.
    OMB control number: 7100-0224.
    Frequency: On occasion.
    Reporters: State member banks, foreign banks, uninsured state 
branches or state agencies of foreign banks, commercial lending 
companies owned or controlled by foreign banks, and Edge corporations.
    Estimated annual reporting hours: 5 hours.
    Estimated average hours per response: FR G-FIN, 1 hour; FR G-FINW, 
0.25 hour.
    Number of respondents: FR G-FIN, 4; FR G-FINW, 2.
    General description of report: These information collections are 
mandatory pursuant to the Securities and Exchange Act of 1934 (15 
U.S.C. 78o-5(a)(1)(B)) which requires a financial institution that is a 
broker or dealer of government securities dealer to notify the ARA that 
it is a government securities broker or a government securities dealer, 
or that it has ceased to act as such. In addition, 15 U.S.C. 78o-
5(b)(1) directs the Treasury to adopt rules requiring every government 
securities broker and government securities dealer to collect 
information and to provide reports to the applicable ARA, and 15 U.S.C. 
78o-5(c)(2)(B) authorizes ARAs to enforce compliance with the 
Treasury's rules. The Federal Reserve Board is an ARA. 15 U.S.C. 
78c(a)(34)(G)(ii). Respondents file two copies of the notices directly 
with the Federal Reserve Board. Under the statute, the Federal Reserve 
Board forwards one copy to the SEC, and the notices are then made 
public by the SEC. 15 U.S.C. 78o-5(a)(l)(B)(iii). While the statute 
only requires the SEC to produce the notices to the public, the notices 
are also available to the public upon request made to the Federal 
Reserve Board. Accordingly, the Federal Reserve Board does not consider 
these data to be confidential.
    Abstract: The Government Securities Act of 1986 (the Act) requires 
financial institutions to notify their ARA of their intent to engage in 
government securities broker or dealer activity, to amend information 
submitted previously, and to record their termination of such activity. 
The Federal Reserve is the ARA for state member banks, foreign banks, 
uninsured state branches or state agencies of foreign banks, commercial 
lending companies owned or controlled by foreign banks, and Edge 
corporations. The Federal Reserve uses the information in its 
supervisory capacity to measure compliance with the Act.
    3. Report title: Funding and Liquidity Risk Management Guidance.
    Agency form number: FR 4198.
    OMB control number: 7100-0326.
    Frequency: Funding and liquidity risk management guidance, 
Annually; Liquidity risk reports, monthly.
    Reporters: Bank holding companies, state member banks, branches and 
agencies of foreign banking organizations, Edge and agreement 
corporations, and savings and loan holding companies.
    Estimated annual reporting hours: Funding and liquidity risk 
management guidance, Large institutions, 25,920 hours; mid-sized 
institutions, 28,080 hours; small institutions, 520,720 hours; 
Liquidity risk reports, 317,520 hours.
    Estimated average hours per response: Funding and liquidity risk 
management guidance, large institutions, 720 hours; mid-sized 
institutions, 240 hours; small institutions, 80 hours; Liquidity risk 
reports, 4 hours.
    Number of respondents: Funding and liquidity risk management 
guidance, Large institutions, 36; mid-sized institutions, 117; small 
institutions, 6,509 ; Liquidity risk reports, 6,615.
    General description of report: The Guidance is mandatory based on 
the following relevant statutory provisions.
     Section 9(6) of the Federal Reserve Act (12 U.S.C. 324) 
requires state member banks to make reports of condition to their 
supervising Reserve Bank in such form and containing such information 
as the Board may require.
     Section 5(c) of the Bank Holding Company Act (12 U.S.C. 
1844(c)) requires a BHC and any subsidiary to keep the Board informed 
as to its financial condition, [and] systems for monitoring and 
controlling financial and operating risks.
     Section 7(c)(2) of the International Banking Act of 1978 
(12 U.S.C. 3105(c)(2)) requires branches and agencies of foreign 
banking organizations to file reports of condition with the Federal 
Reserve to the same extent and in the same manner as if the branch or 
agency were a state member bank.
     Section 25A of the Federal Reserve Act (12 U.S.C. 625) 
requires Edge and agreement corporations to make reports to the Board 
at such time and in such form as it may require.
     Section 312 of the Dodd-Frank Act (12 U.S.C. 5412) 
succeeded to the Board all powers of the OTS and its Director, 
including the Director's authority to require SLHCs to ``maintain such 
books and records as may be prescribed by the Director.'' The original 
source for the authority of the OTS Director to examine S&Ls and SLHCs 
is contained in 12 U.S.C. 1467a(b)(3) of the Home Owners' Loan Act.
    Because the records required by the Guidance are maintained at the 
institution, issues of confidentiality would not normally arise. Should 
the documents be obtained during the course of an examination, such 
information may be withheld from the public under the authority of the 
Freedom of Information Act, 5 U.S.C. 552 (b)(8). In addition, some or 
all of the information may be ``commercial or financial information'' 
protected from disclosure under 5 U.S.C. 552(b)(4).
    Abstract: The Guidance summarizes the principles of sound liquidity 
risk management that the Office of the Comptroller of the Currency, the 
Federal Reserve, the Federal Deposit Insurance Corporation, and the 
National Credit Union Administration (the agencies), have issued in the 
past and, where

[[Page 9694]]

appropriate, brings them into conformance with the ``Principles for 
Sound Liquidity Risk Management and Supervision'' issued by the Basel 
Committee on Banking Supervision (BCBS) in September 2008. While the 
BCBS liquidity principles primarily focuses on large internationally 
active financial institutions, the Guidance emphasizes supervisory 
expectations for all domestic financial institutions including banks, 
thrifts and credit unions.
    Two sections of the Guidance that fall under the definition of an 
information collection. Section 14 states that institutions should 
consider liquidity costs, benefits, and risks in strategic planning and 
budgeting processes. Section 20 requires that liquidity risk reports 
provide aggregate information with sufficient supporting detail to 
enable management to assess the sensitivity of the institution to 
changes in market conditions, its own financial performance, and other 
important risk factors.

    Board of Governors of the Federal Reserve System, February 5, 
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-02922 Filed 2-8-13; 8:45 am]
BILLING CODE 6210-01-P