[Federal Register Volume 78, Number 169 (Friday, August 30, 2013)]
[Notices]
[Pages 53759-53761]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-21166]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: 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 October 29, 2013.

ADDRESSES: You may submit comments, identified by FR Y-15, by any of 
the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
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 
http://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.

[[Page 53760]]


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: http://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--Office of 
the Chief Data Officer, 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 Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, 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 revision, 
without extension, of the following report:
    Report title: Banking Organization Systemic Risk Report.
    Agency form number: FR Y-15.
    OMB control number: 7100-0352.
    Frequency: Annual.
    Reporters: Bank holding companies (BHCs) with over $50 billion in 
total consolidated assets and any U.S.-based organizations designated 
as global systemically important banks (G-SIBs) that do not otherwise 
meet the consolidated assets threshold for BHCs.
    Estimated annual reporting hours: 10,395 hours.
    Estimated average hours per response: 315 hours.
    Number of respondents: 33.
    General description of report: This information collection is 
mandatory pursuant to section 5 of the BHC Act (12 U.S.C. 1844(c)). The 
data collected in the FR Y-15 includes both confidential data that may 
be used for supervisory purposes and non-confidential information that 
does not constitute confidential commercial information. In this 
respect, data items on the FR Y-15 that are retrieved from the public 
portions of the FR Y-9C or that are published only in aggregate form on 
the FR Y-15 are not confidential. The confidentiality of the remaining 
items will depend on a determination that considers the competitive 
harm resulting from the disclosure and the public purpose served by the 
disclosure.
    Abstract: The FR Y-15, which was derived from a Basel data 
collection aimed at measuring systemic importance, was implemented on 
December 31, 2012.\1\ In addition to (i) Facilitating the future 
implementation of the G-SIB surcharge through regulation, (ii) 
identifying institutions that may be D-SIBs under a future framework 
and (iii) analyzing the systemic risk implications of proposed mergers 
and acquisitions, the Federal Reserve uses the FR Y-15 data to monitor, 
on an ongoing basis, the systemic risk profile of the institutions 
which are subject to enhanced prudential standards under section 165 of 
the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA).
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    \1\ The final Federal Register notice was published on December 
28, 2012 (77 FR 76484).
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    Current Actions: The Federal Reserve proposes to revise the FR Y-15 
by: (1) Adding five new line items consistent with revisions to 
international standards concerning the calculation of total exposures, 
securities outstanding, and trading and available-for-sale securities; 
(2) deleting three current line items that are no longer needed; (3) 
revising the definitions for six specific line items to be consistent 
with international standards; (4) revising the definition of financial 
institution used in Schedule B; (5) using total consolidated assets as 
of the June 30th prior to the December 31st as-of date to determine the 
reporting panel; and (6) incorporating instructional clarifications.

Proposed Revisions--FR Y-15

Schedule A

    To reflect the current definition of the Basel III leverage ratio, 
the Federal Reserve proposes to collect counterparty exposure of 
securities financing transactions (item 2(a)(1)) and credit derivatives 
sold net of related credit protection bought after adjusting for 
maturity (item 2(b)(3)).

Schedule B

    The current version of the FR Y-15 does not capture all types of 
possible outstanding securities. For completeness in assessing the 
systemic risk associated with the securities outstanding indicator, the 
Federal Reserve proposes to collect preferred shares and other forms of 
subordinated funding (item 17). The Federal Reserve also proposes to 
delete the fair value of collateral that is held outside of the master 
netting agreements from both the intra-financial system assets and 
intra-financial system liabilities sections (items 5(c) and 9(c)) as 
they are not required for the calculation of the two indicators. The 
Federal Reserve also proposes to revise the definition of financial 
institution to match the definition used in the Basel Committee on 
Banking Supervision (BCBS) G-SIB methodology.\2\ This change would 
affect the values reported in data items 1 through 10. Also, undrawn 
committed lines extended to unaffiliated financial institutions (item 
2) will no longer be able to be pulled from the FR Y-9C and thus would 
need to be reported. The Federal Reserve also proposes to revise the 
definition for equity market capitalization (item 16) to capture equity 
that is not publicly traded. This line item would be retitled common 
equity. For clarity, the Federal Reserve proposes renaming securities 
issued to securities outstanding. Finally, the Federal Reserve proposes 
to move certificates of deposit (item 3(e)) so that it is a 
subcomponent of funds deposited with or lent to unaffiliated financial 
institutions (item 1).
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    \2\ See Global systemically important banks: updated assessment 
methodology and the additional loss absorbency requirement, July 
2013, available at http://www.bis.org/publ/bcbs255.htm.
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Schedule C

    To reflect the latest definitions adopted in the BCBS G-SIB 
methodology, the Federal Reserve proposes to revise the reporting 
instructions for payments made in the reporting year (item 1) and 
assets held

[[Page 53761]]

as a custodian on behalf of customers (item 3).

Schedule D

    To capture an alternative method for calculating the high quality 
liquid assets (HQLA) adjustment to trading and available-for-sale (AFS) 
securities, the Federal Reserve proposes to collect trading and AFS 
securities that meet the definition of Level 1 assets (item 11) and 
trading and AFS securities that meet the definition of Level 2 assets 
after applying haircuts (item 12). This alternative method may better 
reflect the amount of HQLA attributable to total trading and AFS 
securities. To reflect the liquidity definitions adopted by the BCBS in 
January 2013, the Federal Reserve proposes to revise the reporting 
instructions for Level 2 assets (item 8) and the adjustment to HQLA due 
to cap on Level 2 assets (item 9). The Federal Reserve recognizes that 
other data items would also be affected by the revised liquidity 
definitions (e.g., Level 1 assets). However, the instructions refer to 
the instructions for the July Basel III implementation monitoring 
exercise of the reporting year, which will already reflect the updated 
definitions. The Federal Reserve also proposes to delete securities for 
which the fair value option is elected (item 4(a)), as it is no longer 
being used in the BCBS G-SIB methodology. Finally, the Federal Reserve 
proposes to move held-to-maturity securities (item 11) to Schedule F 
(item 12).

Schedule F

    To correct an instructional typo that resulted in the reporting of 
overstated figures, the Federal Reserve proposes to revise the 
reporting instructions for retail funding (item 2).

Change to Reporting Criteria

    Currently the reporting panel is determined based on total 
consolidated assets as of December 31st. The Federal Reserve proposes 
to determine the reporting panel using total consolidated assets as of 
the June 30th prior to the December 31st as-of date. This would afford 
new reporters lead time to update their systems to capture the FR Y-15 
data.

Instructional Clarifications

    The Federal Reserve proposes to incorporate instructional 
clarifications in response to feedback and questions received from 
banking organizations that filed the FR Y-15 for year-end 2012.

     Board of Governors of the Federal Reserve System, August 26, 
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-21166 Filed 8-29-13; 8:45 am]
BILLING CODE 6210-01-P