[Federal Register Volume 79, Number 18 (Tuesday, January 28, 2014)]
[Notices]
[Pages 4468-4472]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-01582]


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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 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 March 31, 2014.

ADDRESSES: You may submit comments, identified by FR 2225, FR 2226, FR 
3054a,b,c,d, FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9ES, or FR Y-9CS by any 
of the following methods:

[[Page 4469]]

     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 
a.m. and 5 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 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 Revision, of the Following Information Collections

    1. Report title: Consolidated Financial Statements for Holding 
Companies.
    Agency form number: FR Y-9C.
    OMB control number: 7100-0128.
    Frequency: Quarterly.
    Reporters: Holding companies (HCs).
    Estimated annual reporting hours: FR Y-9C (non Advanced Approaches 
HCs): 220,366 hours; FR Y-9C (Advanced Approaches Bank Holding 
Companies (BHCs)): 2,404 hours.
    Estimated average hours per response: FR Y-9C (non Advanced 
Approaches HCs): 48.84 hours; FR Y-9C (Advanced Approaches BHCs): 50.09 
hours.
    Number of respondents: FR Y-9C (non Advanced Approaches HCs): 
1,128; FR Y-9C (Advanced Approaches BHCs): 12.
    General description of report: This information collection is 
authorized pursuant by Section 5(c) of the Bank Holding Company Act [12 
U.S.C. 1844(c)]. In addition, 12 U.S.C. 1467a(b)(2)(A) and 
1850a(c)(1)(A) authorize the Federal Reserve to require that SLHCs and 
supervised securities holding companies also file the FR Y-9 series of 
reports with the Federal Reserve. Overall, the Federal Reserve does not 
consider the financial data in these reports to be confidential. 
However, a respondent may request confidential treatment pursuant to 
sections (b)(4), (b)(6), and (b)(8) of the Freedom of Information Act 
(FOIA) (5 U.S.C. 552(b)(4), (b)(6), and (b)(8)). The applicability of 
these exemptions would need to be reviewed on a case by case basis.
    Abstract: The FR Y-9 family of reporting forms continues to be the 
primary source of financial data on HCs that examiners rely on in the 
intervals between on-site inspections and off-site assessments through 
the Small Bank Holding Company Supervision Program. Financial data from 
these reporting forms are used to detect emerging financial problems, 
to review performance and conduct pre-inspection analysis, to monitor 
and evaluate capital adequacy, to evaluate HC mergers and acquisitions, 
and to analyze an HC's overall financial condition to ensure the safety 
and soundness of its operations.
    The FR Y-9C consists of standardized financial statements similar 
to the Federal Financial Institutions Examination Council (FFIEC) 
Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031 
& 041; OMB No. 7100-0036) filed by commercial banks. It collects 
consolidated data from HCs, and is filed by top-tier HCs with total 
consolidated assets of $500 million or more.\1\
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    \1\ Under certain circumstances described in the General 
Instructions, HCs with assets under $500 million may be required to 
file the FR Y-9C.
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    Current actions: The Federal Reserve proposes to discontinue the 
Voluntary Advance Collection of Summary FR Y-9C Data from the Largest 
BHCs (Advanced Collection). This proposal is based on the following 
information:
     Since the start of the Advance Collection process in 2004, 
the FR Y-9C processing time period has shortened by 15 days allowing 
access to the officially submitted data in a more timely fashion.
     The companies (i.e., the 50 largest BHCs) participating in 
the process have increased the quality and quantity of data available 
in their press release information.
     There would be resource savings at the companies and the 
Federal Reserve as a result of discontinuing the ``Voluntary Advance 
Collection'' process.
    2. Report title: Payments Systems Surveys: Ad Hoc Payments Systems 
Survey (FR 3054a) and the Currency Functionality Survey (FR 3054d).
    Agency form numbers: FR 3054a and FR 3054d.
    OMB control number: 7100-0332.

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    Frequency: On occasion and annually.
    Reporters: Financial, institutions (or depository institutions), 
individuals, law enforcement and nonfinancial businesses (banknote 
equipment manufacturers, or global wholesale bank note dealers).
    Estimated annual reporting hours: 11,500 hours.
    Estimated average hours per response: FR 3054a: 0.75 hours; FR 
3054d: 2.5 hours.
    Number of respondents: FR 3054a: 12,000; and FR 3054d: 250.
    General description of report: This information collection is 
authorized pursuant to Section 11(d) of the Federal Reserve Act (12 
U.S.C. Sec.  248(d)). The obligation to respond to the FR 3054a and FR 
3054d is voluntary. Because survey questions may differ from survey to 
survey, it is difficult to determine whether the information collected 
will be considered confidential. However, information may be exempt 
from disclosure under exemption 4 of the FOIA, 5 U.S.C. 552(b)(4), if 
disclosure would likely have the effect of (1) Impairing the 
government's ability to obtain the necessary information in the future, 
or (2) causing substantial harm to the competitive position of the 
respondent. Additionally, should survey responses contain any 
information of a private nature the disclosure of which would 
constitute ``a clearly unwarranted invasion of personal privacy,'' such 
information may be exempt from disclosure under exemption 6, 5 U.S.C. 
552(b)(6). Confidentiality matters should be treated on a case-by-case 
basis to determine if any of the above exemptions apply.
    Abstract: The FR 3054a is an event-driven survey used to obtain 
information specifically tailored to the Federal Reserve's operational 
and fiscal agency responsibilities. The FR 3054a may be conducted 
independently by the Federal Reserve or jointly with another government 
agency, a Reserve Bank, or a private firm. The FR 3054d is an annual 
survey used to assess the functionality of Federal Reserve notes in 
banknote handling equipment. The data collected from the FR 3054d are 
used as inputs for future designs of Federal Reserve notes. The FR 
3054d may be conducted jointly with the U.S. Treasury's Bureau of 
Engraving and Printing, and the CTO.
    Current actions:

FR 3054a Proposed Revision

    Since the Payments Systems Surveys were originally approved, the 
Federal Reserve has assumed additional responsibilities for currency-
related activities including, management of the currency education 
program, which was previously managed by the U.S. Treasury's Bureau of 
Engraving and Printing, and increased responsibilities for security and 
tactile feature development. To ensure that the Federal Reserve has the 
flexibility to collect data from respondents that will inform the 
Federal Reserve's decision-making on the education program and new 
banknote designs, Federal Reserve proposes to revise the FR 3054a to 
increase the number and type of respondents, from which it collects 
data. In addition, the Federal Reserve's approval of the FR 3067, in 
July, provides additional burden hours and flexibility to conduct 
surveys. Federal Reserve proposes to add individuals and law 
enforcement agencies to its current respondent group, reduce the annual 
frequency from 10 times to 1 time per year, which reflects its 
expectation that it will only survey respondents once, reduce the 
estimated time to complete a survey from 15 hours to 0.75 hours, and 
increase the number of respondents from 100 to 12,000. Federal Reserve 
anticipates that the FR 3054a will primarily be used for the currency 
education program, which will result in asking respondents to answer a 
small number of very targeted questions that respondents can complete 
in about thirty minutes, but will require a larger respondent pool to 
ensure that the public is aware of banknote designs and security 
features. The FR 3054a may also be used to collect information from the 
Federal Reserve's stakeholders regarding the societal cost effect of a 
raised tactile feature on banknotes.

FR 3054d Proposed Revision

    Federal Reserve proposes to revise the FR 3054d to include a 
perception study. Since the Payments Systems Surveys were originally 
approved, Federal Reserve has employed this survey to conduct numerous 
surveys with Banknote Equipment Manufacturers' (BEM's) regarding the 
functionality of banknotes. Federal Reserve plan on conducting follow-
up interviews with BEM's and a perception study to determine how 
individuals use the features of banknotes currently in circulation and 
potential new features. Federal Reserve proposes to revise the FR 3054d 
to increase the number and type of respondents from which it collects 
data. Federal Reserve proposes to (1) rename the survey the Currency 
Functionality and Perception Survey, (2) include additional respondent 
groups (such as individuals), (3) increase the frequency of the survey 
from one time per year to four times per year, (4) reduce the estimated 
time to complete the survey from 48 hours to 2.5 hours, and (5) 
increase the number of respondents from 20 to 250. These changes 
reflect a greater need to gather targeted perception information from 
individuals rather than conduct face-to-face bilateral discussions with 
BEM's to obtain very technical information on how the equipment they 
manufacture determines what denomination a banknote is and if it 
genuine or counterfeit.

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

    1. Report title: Annual Daylight Overdraft Capital Report for U.S. 
Branches and Agencies of Foreign Banks.
    Agency form number: FR 2225.
    OMB control number: 7100-0216.
    Frequency: Annually.
    Reporters: Foreign banking organizations (FBO).
    Estimated annual reporting hours: 51 hours.
    Estimated average hours per response: 1 hour.
    Number of respondents: 51.
    General description of report: This information collection is 
authorized pursuant by sections 11(i), 16, and 19(f) of the Federal 
Reserve Act (12 U.S.C. 248(i), 248-1 and 464). An FBO is required to 
respond in order to obtain or retain a benefit, i.e., in order for the 
U.S. branch or agency of an FBO to establish and maintain a non-zero 
net debit cap. The information submitted by respondents is not 
confidential; however, respondents may request confidential treatment 
for portions of the report. Data may be considered confidential and 
exempt from disclosure under section (b)(4) of the FOIA if it 
constitutes commercial or financial information and public disclosure 
could result in substantial competitive harm to the submitting 
institution (5 U.S.C. 552(b)(4)).
    Abstract: This report was implemented in March 1986 as part of the 
procedures used to administer the Federal Reserve's Payment System Risk 
(PSR) policy. A key component of the PSR policy is a limit, or a net 
debit cap, on an institution's negative intraday balance in its Reserve 
Bank account. The Federal Reserve calculates an institution's net debit 
cap by applying the multiple associated with the net debit cap category 
to the institution's capital. For FBOs, a percentage of the FBO's 
capital measure, known as the U.S. capital equivalency, is used to 
calculate the FBO's net debit cap. FBOs that wish to establish a 
positive net

[[Page 4471]]

debit cap and have a strength of support assessment (SOSA) 1 or SOSA 2 
ranking or hold a financial holding company (FHC) designation are 
required to submit the FR 2225 to their Administrative Reserve Bank 
(ARB).2 3
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    \2\ The Administrative Reserve Bank is responsible for managing 
an institution's account relationship with the Federal Reserve.
    \3\ Most FBOs that are ranked SOSA 3 do not qualify for a 
positive net debit cap. In the event a Reserve Bank grants a net 
debit cap or extends intraday credit to a financially healthy SOSA 
3-ranked FBO, the financially healthy SOSA 3-ranked FBOs will have 
their U.S. capital equivalency based on their ``Net due to related 
depository institutions'' as reported on the Report of Assets and 
Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 
002), Schedule RAL, Item 5.a, Column A, for the most recent quarter.
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    2. Report title: Report of Net Debit Cap.
    Agency form number: FR 2226.
    OMB control number: 7100-0217.
    Frequency: Annually.
    Reporters: Depository institution's board of directors.
    Estimated annual reporting hours: 1,158 hours.
    Estimated average hours per response: 1 hour.
    Number of respondents: De Minimis Cap: 1,016; Self-Assessment Cap; 
\4\ 139; Maximum Daylight Overdraft Capacity: 3.
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    \4\ Self-assessment cap figures do not include those self-
assessed cap respondents with maximum daylight overdraft capacity.
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    General description of report: This information collection is 
authorized pursuant to sections 11, 16, and 19 of the Federal Reserve 
Act (12 U.S.C. Sec.  248(i), Sec.  248-1 and Sec.  464) authorize the 
Board to require the FR 2226 resolutions. Disclosure of information 
collected on the FR 2226 would likely cause substantial harm to the 
competitive position of the respondent institution. Therefore, the FR 
2226 is exempt from disclosure under exemption (b)(4) of the FOIA, 
which exempts from disclosure ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.'' (5 U.S.C. 552(b)(4)). In addition, information reported 
in connection with the second and third resolutions may be protected 
under section (b)(8) of FOIA, to the extent that such information is 
based on the institution's CAMELS rating, and thus is related to 
examination reports prepared by, on behalf of, or for the use of an 
agency responsible for the regulation or supervision of financial 
institutions (5 U.S.C. 552(b)(8)).
    Abstract: Federal Reserve Banks collect these data annually to 
provide information that is essential for their administration of the 
Federal Reserve's PSR policy. The reporting panel includes the subset 
of financially healthy depository institutions with access to the 
discount window that opt to request a De minis of self-assessed cap 
under the PSR Policy. The Report of Net Debit Cap comprises three 
resolutions, which are filed by a depository institution's board of 
directors depending on its needs. The first resolution is used to 
establish a de minimis net debit cap and the second resolution is used 
to establish a self-assessed net debit cap.\5\ The third resolution is 
used to establish simultaneously a self-assessed net debit cap and 
maximum daylight overdraft capacity. The PSR policy requires depository 
institutions to submit their resolutions annually, as of the date of 
the board of directors' approved resolution(s).
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    \5\ Institutions use these two resolutions to establish a 
capacity for daylight overdrafts above the lesser of $10 million or 
20 percent of the institution's capital measure. Financially healthy 
U.S. chartered institutions that rarely incur daylight overdrafts in 
excess of the lesser of $10 million or 20 percent of the 
institution's capital measure do not need to file board of 
directors' resolutions or self-assessments with their Reserve Bank.
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    3. Report title: The Parent Company Only Financial Statements for 
Large Holding Companies (FR Y-9LP), the Parent Company Only Financial 
Statements for Small Holding Companies (FR Y-9SP), the Financial 
Statements for Employee Stock Ownership Plan Holding Companies (FR Y-
9ES), the Supplement to the Consolidated Financial Statements for 
Holding Companies (FR Y-9CS).
    Agency form number: FR Y-9LP, FR Y-9SP, FR Y-9ES, FR-9CS.
    OMB control number: 7100-0128.
    Frequency: Quarterly, semi-annually, annually, and quarterly.
    Reporters: Holding companies.
    Estimated annual reporting hours: FR Y-9LP: 29,148 hours; FR Y-9SP 
(BHCs): 41,008 hours; FR Y-9SP (Savings and Loan Holding Companies 
(SLHCs)): 8,435 hours; FR Y-9ES: 43 hours; FR-9CS: 472 hours.
    Estimated average hours per response: FR Y-9LP: 5.25 hours; FR Y-
9SP (BHCs): 5.40 hours; FR Y-9SP (SLHCs): 14.20 hours; FR Y-9ES: 0.50 
hours; FR-9CS: 0.50 hours.
    Number of respondents FR Y-9LP: 1,388; FR Y-9SP (BHCs): 3,797; FR 
Y-9SP (SLHCs): 297; FR Y-9ES: 86; FR-9CS: 236.
    General description of report: This information collection is 
authorized pursuant by Section 5(c) of the Bank Holding Company Act [12 
U.S.C. Sec.  1844(c)]. In addition, 12 U.S.C. Sec. Sec.  1467a(b)(2)(A) 
and 1850a(c)(1)(A) authorize the Federal Reserve to require that SLHCs 
and supervised securities holding companies also file the FR Y-9 series 
of reports with the Federal Reserve. Overall, the Federal Reserve does 
not consider the financial data in these reports to be confidential. 
However, a respondent may request confidential treatment pursuant to 
sections (b)(4), (b)(6), and (b)(8) of the Freedom of Information Act 
(FOIA) (5 U.S.C. Sec. Sec.  552(b)(4), (b)(6), and (b)(8)). The 
applicability of these exemptions would need to be reviewed on a case 
by case basis.
    Abstract: The FR Y-9LP and FR Y-9SP serve as standardized financial 
statements for the consolidated HC and its parent; the FR Y-9ES is a 
financial statement for HCs that are Employee Stock Ownership Plans 
(ESOPs). The Board also has the authority to use the FR Y-9CS (a free-
form supplement) to collect additional information deemed to be (1) 
critical and (2) needed in an expedited manner.
    The FR Y-9 family of reporting forms continues to be the primary 
source of financial data on HCs that examiners rely on in the intervals 
between on-site inspections and off-site assessments through the Small 
Bank Holding Company Supervision Program. Financial data from these 
reporting forms are used to detect emerging financial problems, to 
review performance and conduct pre-inspection analysis, to monitor and 
evaluate capital adequacy, to evaluate HC mergers and acquisitions, and 
to analyze an HC's overall financial condition to ensure the safety and 
soundness of its operations.
    4. Report title: Payments Systems Surveys: Currency Quality 
Sampling Survey (FR 3054b) and the Currency Quality Survey (FR 3054c).
    Agency form numbers: FR 3054b and FR 3054c.
    OMB control number: 7100-0332.
    Frequency: Annually and semi-annually.
    Reporters: Financial, institutions (or depository institutions) 
individuals, law enforcement and nonfinancial businesses (banknote 
equipment manufacturers, or global wholesale bank note dealers).
    Estimated annual reporting hours: 1,590 hours.
    Estimated average hours per response: FR 3054b: 0.5 hours and FR 
3054c: 30 hours.
    Number of respondents: FR 3054b: 180 and FR 3054c: 25.
    General description of report: This information collection is 
authorized pursuant to Section 11(d) of the Federal Reserve Act (12 
U.S.C. Sec.  248(d)). The

[[Page 4472]]

obligation to respond to the FR 3054b and FR 3054c is voluntary. 
Because survey questions may differ from survey to survey, it is 
difficult to determine whether the information collected will be 
considered confidential. However, information may be exempt from 
disclosure under exemption 4 of the Freedom of Information Act, 5 
U.S.C. Sec.  552(b)(4), if disclosure would likely have the effect of 
(1) impairing the government's ability to obtain the necessary 
information in the future, or (2) causing substantial harm to the 
competitive position of the respondent. Additionally, should survey 
responses contain any information of a private nature the disclosure of 
which would constitute ``a clearly unwarranted invasion of personal 
privacy,'' such information may be exempt from disclosure under 
exemption 6, 5 U.S.C. Sec.  552(b)(6). Confidentiality matters should 
be treated on a case-by-case basis to determine if any of the above 
exemptions apply.
    Abstract: The FR 3054b is an annual survey used to assess the 
quality of currency in circulation and may be conducted by the Federal 
Reserve, jointly with the Federal Reserve Bank of San Francisco's Cash 
Product Office (CPO), the Federal Reserve Bank of Richmond's Currency 
Technology Office (CTO), and each Reserve Bank's cash department. The 
FR 3054c is a semi-annual survey used to determine depository 
institutions' and Banknote Equipment Manufacturers' opinions of 
currency quality and may be conducted jointly with the CPO and CTO.

    Board of Governors of the Federal Reserve System, January 23, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-01582 Filed 1-27-14; 8:45 am]
BILLING CODE 6210-01-P