[Federal Register Volume 80, Number 178 (Tuesday, September 15, 2015)]
[Notices]
[Pages 55360-55362]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23103]


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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), 
to approve of and assign OMB numbers to collection of information 
requests and requirements conducted or sponsored by the Board. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. Copies 
of the PRA 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 number.

DATES: Comments must be submitted on or before November 16, 2015.

ADDRESSES: You may submit comments, identified by Reg II or Reg K, 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

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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 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 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--Nuha Elmaghrabi--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 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, without revision, of the following reports:
    1. Report title: Recordkeeping and Disclosure Requirements 
Associated with Regulation II (Debit Card Interchange Fees and 
Routing).
    Agency form number: Reg II.
    OMB control number: 7100-0349.
    Frequency: On occasion.
    Reporters: State member banks, national banks, insured nonmember 
banks, savings associations, and Federally-chartered credit unions.
    Estimated annual reporting hours: Implement policies & procedures, 
2,400 hours; Review and update policies and procedures, 5,240 hours; 
and Annual notification and change in status, 131 hours.
    Estimated average hours per response: Implement policies & 
procedures, 160 hours; Review and update policies and procedures, 40 
hours; and Annual notification and change in status, 1 hour.
    Number of respondents: Implement policies & procedures, 15 
respondents; Review and update policies and procedures, 131 
respondents; and Annual notification and change in status, 131 
respondents.
    General description of report: This information collection is 
required to obtain or retain a benefit ((15 U.S.C. 1693o-2(a)(5)) and 
is not given confidential treatment.
    Abstract: Regulation II implements, among other things, standards 
for assessing whether interchange transaction fees for electronic debit 
transactions are reasonable and proportional to the cost incurred by 
the issuer with respect to the transaction, as required by section 920 
of the Electronic Fund Transfer Act. The regulation sets a cap of 21 
cents plus 5 basis points of the transaction's value on interchange 
transaction fees of covered issuers.
    Regulation II allows adjustments to debit card interchange 
transaction fees to make an allowance for fraud-prevention costs 
incurred by issuers. The regulation permits an issuer to receive or 
charge an amount of no more than 1 cent per transaction in addition to 
its interchange transaction fee if the issuer develops and implements 
policies and procedures that are reasonably designed to take effective 
steps to reduce the occurrence of, and costs to all parties from, 
fraudulent electronic debit transactions. An issuer must notify its 
payment card networks annually that it complies with the Board's 
standards for the fraud-prevention adjustment.
    Regulation II requires issuers to retain evidence of compliance 
with the requirements imposed for a period of not less than five years 
after the end of the calendar year in which the electronic debit 
transaction occurred.
    2. Report title: Recordkeeping Requirements of Regulation H and 
Regulation K Associated with Bank Secrecy Act Compliance Programs.
    Agency form number: Reg K.
    OMB control number: 7100-0310.
    Frequency: Annually.
    Reporters: State member banks; Edge and agreement corporations; and 
U.S. branches, agencies, and other offices of foreign banks supervised 
by the Federal Reserve.
    Estimated annual reporting hours: Establish compliance program, 160 
hours; and maintenance of compliance program, 4,872 hours.
    Estimated average hours per response: Establish compliance program, 
16 hours; and maintenance of compliance program, 4 hours.
    Number of respondents: Establish compliance program, 10; and 
maintenance of compliance program, 1,218.
    General description of report: The standards for Bank Secrecy Act 
(BSA) compliance programs associated with section 208.63 of Regulation 
H and with sections 211.5(m)(1) and 211.24(j)(1) of Regulation K are 
generally authorized pursuant to the BSA. In addition, sections 11, 21, 
25, and 25A of the Federal Reserve Act authorize the Board to require 
the information collection and recordkeeping requirements set forth in 
Regulations H and K. Section 5 of the Bank Holding Company Act and 
section 13(a) of the International Banking Act provide further 
authority for sections 211.5(m) and 211.24(j)(1) of Regulation K. Since 
the Federal Reserve does not collect any information, no issue of 
confidentiality normally arises. However, if a BSA compliance program 
becomes a Federal Reserve record during an examination, the information 
may be protected from disclosure under

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exemptions (b)(4) and (b)(8) of the Freedom of Information Act.
    Abstract: Section 208.63 of Regulation H requires state member 
banks to establish and maintain the same procedures. Sections 
211.5(m)(1) and 211.24(j)(1) of Regulation K require Edge and agreement 
corporations and U.S. branches, agencies, and other offices of foreign 
banks supervised by the Federal Reserve to establish and maintain 
procedures reasonably designed to ensure and monitor compliance with 
the BSA and related regulations. There are no required reporting forms 
associated with this information collection.

    Board of Governors of the Federal Reserve System, September 10, 
2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-23103 Filed 9-14-15; 8:45 am]
 BILLING CODE 6210-01-P