[Federal Register Volume 78, Number 182 (Thursday, September 19, 2013)]
[Notices]
[Pages 57634-57637]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-22709]


=======================================================================
-----------------------------------------------------------------------

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

[[Page 57635]]

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 November 18, 2013.

ADDRESSES: You may submit comments, identified by FR 2052a and b, 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.

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 
implementation of the following information collection:
    Report titles: Complex Institution Liquidity Monitoring Report and 
Liquidity Monitoring Report.
    Agency form numbers: FR 2052a and FR 2052b.
    OMB control number: 7100- to be assigned.
    Frequency: FR 2052a: Daily, twice a month, and on occasion. FR 
2052b: monthly, quarterly, and on occasion.
    Reporters: FR 2052a: U.S. Bank Holding Companies (BHCs) that the 
Financial Stability Board designated as Global Systematically Important 
Banks (G-SIBs) and Foreign banking organizations (FBOs) with U.S. 
broker/dealer assets > $100 billion. FR 2052b: U.S. BHCs (excluding G-
SIBs) with total assets > $50 billion, U.S. BHCs with total assets $10 
billion-$50 billion, and FBOs with total U.S. assets > $50 billion and 
US broker/dealer assets < $100 billion.
    Estimated annual reporting hours: FR 2052a: 315,680 hours. FR 
2052b: 9,075 hours.
    Estimated average hours per response: FR 2052a: U.S. BHCs that the 
Financial Stability Board designated as G-SIBs, 150 hours; FBOs with 
U.S. broker/dealer assets > $100 billion complete, 150 hours; FBOs with 
U.S. broker/dealer assets > $100 billion abbreviated, 37.5 hours; Ad-
Hoc, 38 hours. FR 2052b: U.S. BHCs (excluding G-SIBs) with total assets 
> $50 billion, 25 hours; U.S. BHCs with total assets $10 billion-$50 
billion, 25 hours; FBOs with total U.S. assets > $50 billion and U.S. 
broker/dealer assets < $100 billion, 25 hours.
    Number of respondents: FR 2052a: U.S. BHCs that the Financial 
Stability Board designated as G-SIBs, 8; FBOs with U.S. broker/dealer 
assets > $100 billion complete, 8; FBOs with U.S. broker/dealer assets 
> $100 billion abbreviated, 8; Ad-Hoc, 16. FR 2052b: U.S. BHCs 
(excluding G-SIBs) with total assets > $50 billion, 17; U.S. BHCs with 
total assets $10 billion-$50 billion, 38; FBOs with total U.S. assets > 
$50 billion and U.S. broker/dealer assets < $100 billion, 7.
    General description of report: This information collection is 
authorized pursuant to section 5 of the Bank Holding Company Act (12 
U.S.C. 1844), section 8 of the International Banking Act (12 U.S.C. 
3106) and section 165 of the Dodd Frank Act (12 U.S.C. 5365) and are 
mandatory. Section 5(c) of the Bank Holding Company Act authorizes the 
Board to require BHCs to submit reports to the Board regarding their 
financial condition. Section 8(a) of the International Banking Act 
subjects FBOs to the provisions of the Bank Holding Company Act. 
Section 165 of the Dodd Frank Act requires the Board to establish 
prudential standards for certain BHCs and FBOs; these standards include 
liquidity requirements. The individual financial institution 
information provided by each

[[Page 57636]]

respondent would be accorded confidential treatment under exemption 8 
of the Freedom of Information Act (5 U.S.C. 552(b)(8)). In addition, 
the institution information provided by each respondent would not be 
otherwise available to the public and is entitled to confidential 
treatment under the authority of exemption 4 of the Freedom of 
Information Act (5 U.S.C. 552(b)(4)), which protects from disclosure 
trade secrets and commercial or financial information.
    Abstract: The Federal Reserve proposes to implement the FR 2052 
reports, collecting quantitative information on selected assets, 
liabilities, funding activities, and contingent liabilities on a 
consolidated basis and by material subsidiary entity. U.S. BHCs 
designated by the Financial Stability Board as G-SIBs would report the 
complete FR 2052a daily. FBOs with U.S. broker/dealer assets greater 
than $100 billion would report the complete FR 2052a on occasion and an 
abbreviated FR 2052a twice a month. U.S. BHCs, excluding G-SIBs, with 
total assets greater than $50 billion, U.S. BHCs with assets between 
$10 and $50 billion, and FBOs with total U.S. assets greater than $50 
billion and with broker/dealer assets less than $100 billion would 
report on the FR 2052b monthly, quarterly, and on occasion, 
respectively.
    The FR 2052 reports would be used to monitor an individual 
organization's overall liquidity profile for institutions supervised by 
the Federal Reserve. These data would also provide detailed information 
on the liquidity risks within different business lines (e.g., financing 
of securities positions and prime brokerage activities). In particular, 
these data would serve as part of the Federal Reserve's supervisory 
surveillance program in its liquidity risk management area and would 
provide timely information on firm-specific liquidity risks during 
periods of stress. Analysis of both systemic and idiosyncratic 
liquidity risk issues would then be used to inform the Federal 
Reserve's supervisory processes, including the preparation of 
analytical reports that detail funding vulnerabilities.

FR 2052a

    The FR 2052a report would include sections covering broad funding 
classifications by product, outstanding balance and purpose, segmented 
by maturity date. Generally, each section can be classified into one of 
the following categories:
     Section 1: Secured Financing: Institutions would report 
obligations and lending activities backed by the pledge of assets or 
other collateral. This section would include asset-backed commercial 
paper (single-seller and multi-seller arrangements), term asset-backed 
securities, collateralized commercial paper, and other secured 
financing.
     Section 2: Official Government Sources Drawn: Institutions 
would report their borrowings from the Federal Reserve and other 
Central Banks, Federal Home Loan Banks (FHLBs) as well as any amounts 
drawn from official government sources.
     Section 3: Repurchase & Securities Lending Transactions: 
Institutions would report repurchase and securities lending 
transactions such as those conducted under a Global Master Repo 
Agreement, Master Securities Loan Agreement or a Master Securities 
Forward Transaction Agreement. Repurchase & Securities Lending 
Transaction would be grouped according to specific categories pre-
identified by the Federal Reserve.
     Section 4: Unencumbered Assets: Institutions would report 
the amount of assets that are free and clear of any encumbrances such 
as creditor claims or liens. Unencumbered assets would be grouped 
according to specific categories pre-identified by the Federal Reserve.
     Section 5: Expected Cash Inflows: Institutions would 
report cash and collateral inflows, for example those related to 
derivatives, and not covered in any other section.
     Section 6: Cash Inflows from External Counterparties: 
Institutions would report inflows related to Fed funds and Eurodollars 
sold and other loan cash inflows.
     Section 7: Reverse Repurchase & Securities Borrowing 
Transactions: Institutions would report reverse repurchase and 
securities borrowing transactions such as those conducted under a 
Global Master Repo Agreement, Master Securities Loan Agreement or a 
Master Securities Forward Transaction Agreement. Reverse Repurchase & 
Securities Borrowing Transactions would be grouped according to 
specific categories pre-identified by the Federal Reserve.
     Section 8: Unsecured Financing: Institutions would report 
the amount of obligations not backed by the pledge of specific 
collateral. Categories would include commercial paper, wholesale 
certificates of deposit and bank notes, promissory notes, Fed funds and 
Eurodollars purchased, long-term debt (structured and non-structured), 
draws on committed lines from external entities and other unsecured 
financing.
     Section 9: Central Bank, FHLB Sources, and Nostro 
Balances: Institutions would report cash balances maintained at the 
Federal Reserve and at other central banks. Firms' cash balances held 
at other financial institutions (Nostro balances) would be reported.
     Section 10: Deposit Funding: Institutions would report the 
amounts of retail and wholesale deposits and retail CDs based on Basel 
III classifications as of the December 2010 release. These 
classifications differentiate between accounts that are stable versus 
less stable and operating versus non-operating. Institutions would 
report wholesale CDs in Section 8.
     Section 11: Expected Cash Outflows: Institutions would 
report cash and collateral outflows, for example those related to 
derivatives, and not covered in any other section.
     Section 12: Operating Cash Flows: Institutions would 
report operating cash flows related to prime brokerage (e.g., free 
credits, external/internal funding used to cover customer shorts, 
margin loans, lockup cash flows) to help supervisors disentangle firm-
specific and business-specific trends. Expected cash outflows/inflows 
related to derivatives activities would also be reported.
     Section 13: Unsecured Internal Cash Flows: Institutions 
would report unsecured lending between internal entities.
     Section 14: Secured Internal Cash Flows: Institutions 
would report the amounts of repurchase, reverse-repurchase, and 
securities borrowed and securities lending transactions between legal 
entities. Secured Internal Cash Flows would be grouped according to 
specific categories pre-identified by the Federal Reserve.
     Section 15: Contingency Line Items: Institutions would 
report all contingent items that could impact the funding and liquidity 
at the reporting institution. Examples include undrawn commitments 
provided to external counterparties. Firms would also report the total 
cumulative market value of additional collateral their counterparties 
will require the firm to post as a result of various levels of credit 
rating downgrades.
     Section 16: Funding Pricing: Institutions would report the 
market rates paid to third parties to execute secured and unsecured 
transactions.
    The FR 2052a report daily data submissions would be provided on a 
best efforts basis. For institutions providing FR 2052a daily 
information, the month-end submission would be required to be 
certified.

[[Page 57637]]

    For continuous monitoring purposes, FBOs with U.S. broker/dealer 
assets greater than $100 billion would be required to provide a 
complete FR 2052a report on an occasional basis, and such data would be 
expected to be certified. These FBOs would also submit an abbreviated 
FR 2052a report twice a month as reflected in Appendix C of the FR 
2052a instructions. This abbreviated data would not be required to be 
certified.
    The Federal Reserve specifically requests comment on the 
certification requirements with respect to the timeframe needed for 
updating systems and internal controls.
    The Federal Reserve proposes to conduct up to 10 ad-hoc collections 
of daily liquidity data from a total of 16 respondents. The ad-hoc 
collections would consist of approximately 65 data items not reported 
on the FR 2052a. Results from the ad-hoc collections would be used to 
develop future enhancements to the FR 2052a report.

FR 2052b

    The FR 2052b would include sections covering broad funding 
classifications by product, outstanding balance, and purpose segmented 
by maturity date. Generally, each section may be classified into one 
the following categories:
     Section 1: Liquid Assets: Institutions would report cash 
balances maintained at the Federal Reserve and at other central banks. 
Firms' cash balances held at other financial institutions would be 
reported as well as physical currency and coin positions.
     Section 2: Reverse Repos: Institutions would report 
obligations repos by maturity and security collateral type.
     Section 3: Investment Securities: Reporting would be 
segregated into assets by risk weight and type that are unencumbered 
and those assets pledged to garner secured funding by the counterparty 
type (FHLB, Central Bank, etc.) to which the collateral is pledged. 
Both marketable and lendable values would be included.
     Section 4: Loans and Leases: Reporting would be segregated 
into loan types that are unencumbered and those assets pledged to 
garner secured funding by the counterparty type to which the collateral 
is pledged.
     Section 5: Secured Funding Sources Outstanding: 
Institutions would report their borrowing outstanding by maturity from 
the Federal Reserve, the FHLB, and other secured financing facilities.
     Section 6: Repurchase Transaction: Institutions would 
report repurchase transactions by securities collateral type and 
maturity.
     Section 7: Unsecured Financing: Institutions would report 
the amount of obligations not backed by the pledge of specific 
collateral. Categories include commercial paper, wholesale certificates 
of deposits & bank notes, Fed funds and Eurodollars purchased, long-
term debt (structured and non-structured), draws on committed lines 
from external entities and other unsecured financing.
     Section 8: Estimated Cored Funding Gap: The Net Loan 
Growth/Attrition and Net Retail Deposit Growth/Attrition line items 
would be included to capture the forecasted (best estimate, non-
stressed) change in loan and retail deposits over the stated horizon.
     Section 9: Contractual Loan Inflows and Committed Inflow: 
Contractual inflows of all maturing performing loans would be listed in 
the corresponding maturity columns.
     Section 10: Deposit Funding: Institutions would report the 
amounts of retail and wholesale deposits and retail CDs. Institutions 
would differentiate retail/SME deposit accounts that are stable versus 
less stable.
     Section 11: ABCP Exposure: Institutions would report the 
outstanding asset backed commercial paper issued to fund the assets of 
a single or several unrelated sellers.
     Section 12: Undrawn Commitments and Contingent Liquidity 
Needs: Institutions would report all contingent items that could impact 
the funding and liquidity at the reporting institution. Examples 
include undrawn commitments provided to external counterparties.
     Section 13-18: Parent Company Only Tab: Institutions would 
report items in the Parent Company Only section which relate only to 
the Parent Company. Included are fields for liquid assets, forecasts of 
cash inflows (such as dividends from subsidiaries and operations) and 
outflows (such as operating expenses, dividends, subsidiary support and 
debt service), unsecured financing (such as commercial paper, debt and 
draws on committed lines), and committed liquidity and credit 
facilities provided to third-party banks.
     Section 20-21: Contingency Pricing Tab: Institutions would 
report the market rates paid to third parties to execute unsecured and 
secured transactions, by BHC, across the maturity spectrum. If market 
funding quotes are unavailable, the institution's internal funds 
pricing curve could be used as a supplement.
    The FR 2052b reports submitted on monthly, quarterly, and on an 
occasional basis would be certified.
    The Federal Reserve specifically requests comment on the 
certification requirements with respect to the timeframe needed for 
updating systems and internal controls.

    Board of Governors of the Federal Reserve System, September 13, 
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-22709 Filed 9-18-13; 8:45 am]
BILLING CODE 6210-01-P