[Federal Register Volume 81, Number 35 (Tuesday, February 23, 2016)]
[Notices]
[Pages 8958-8959]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03711]


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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 April 25, 2016.

ADDRESSES: You may submit comments, identified by FR 4004 or FR 4201, 
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 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 
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 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 all 
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 collections of information are 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;

[[Page 8959]]

    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 startup 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: Written Security Program for State Member Banks.
    Agency form number: FR 4004.
    OMB control number: 7100-0112.
    Frequency: On occasion.
    Reporters: State member banks.
    Number of respondents: 45.
    Estimated average hours per response: 0.5 hours.
    Estimated annual reporting hours: 23 hours.
    Abstract: The board of directors of each state member bank must 
designate a security officer to assume the responsibility for the 
development and administration of a written security program within 180 
days of opening for business. Each state member bank must develop and 
implement a written security program for the bank's main office and 
branches and maintain it in the bank's records. The designated security 
officer must report at least annually to the bank's board of directors 
on the implementation, administration, and effectiveness of the written 
security program. There is no formal reporting form and the information 
is not submitted to the Federal Reserve.
    Legal authorization and confidentiality: 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 (FOIA) 
normally arises. However, copies of such documents included in 
examination work papers would, in such form, be confidential pursuant 
to exemption 8 of FOIA (5 U.S.C. 552(b)(8)). In addition, the records 
may also be exempt from disclosure under exemption 4 of FOIA (5 U.S.C. 
552(b)(4)).
    2. Report title: Risk-Based Capital Guidelines: Market Risk.
    Agency form number: FR 4201.
    OMB control number: 7100-0314.
    Frequency: Varied--some requirements are done at least quarterly 
and some at least annually.
    Reporters: State member banks, bank holding companies, and certain 
savings and loan holding companies.
    Number of respondents: 28.
    Estimated burden per respondent: 1,964 hours.
    Total estimated annual burden: 54,992 hours.
    Abstract: The market risk rule is an important component of the 
Board's regulatory capital framework (12 CFR 217) that requires banking 
organizations to measure and hold capital to cover their exposure to 
market risk. On July 2, 2013, the Federal Reserve adopted a revised 
regulatory capital framework, including the market risk rule, which was 
expanded to include certain savings and loan holding companies. The 
information-collection requirements in the market risk rule provide the 
most current statistical data available to identify areas of market 
risk on which to focus for onsite and offsite examinations and allow 
the Federal Reserve to assess and monitor the levels and components of 
each reporting institution's risk-based capital requirements for market 
risk and the adequacy of the institution's capital under the market 
risk rule. The reporting, recordkeeping, and disclosure requirements 
are found in sections 12 CFR 217.203-217.210, and 217.212. These 
requirements enhance risk sensitivity and introduce requirements for 
public disclosure of certain qualitative and quantitative information 
about a financial institution's market risk. There are no required 
reporting forms associated with this information collection.
    Legal authorization and confidentiality: The FR 4201 is authorized 
under 12 U.S.C. 324, 1844(c), and 1467a(b)(2)(A). Information collected 
pursuant to the reporting requirements of the FR 4201 (specifically, 
information related to seeking regulatory approval for the use of 
certain incremental and comprehensive risk models and methodologies 
under sections 217.208 and 217.209) is exempt from disclosure pursuant 
to exemption (b)(8) of FOIA (5 U.S.C. 552(b)(8)), and exemption (b)(4) 
of FOIA (5 U.S.C. 552(b)(4)). Exemption (b)(8) applies because the 
reported information is contained in or related to examination reports. 
Exemption (b)(4) applies because the information provided to obtain 
regulatory approval of the incremental or comprehensive risk models is 
confidential business information the release of which could cause 
substantial competitive harm to the reporting company. The 
recordkeeping requirements of the FR 4201 require banking organizations 
to maintain documentation regarding certain policies and procedures, 
trading and hedging strategies, and internal models. These documents 
would remain on the premises of the banking organizations and 
accordingly would not generally be subject to a FOIA request. To the 
extent these documents are provided to the regulators, they would be 
exempt under exemption (b)(8), and may be exempt under exemption 
(b)(4). Exemption (b)(4) protects from disclosure ``trade secrets and 
commercial or financial information obtained from a person and 
privileged or confidential.'' The disclosure requirements of the FR 
4201 do not raise any confidentiality issues because they require 
banking organizations to make certain information public.

    Board of Governors of the Federal Reserve System, February 18, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-03711 Filed 2-22-16; 8:45 am]
 BILLING CODE 6210-01-P