[Federal Register Volume 81, Number 128 (Tuesday, July 5, 2016)]
[Notices]
[Pages 43605-43607]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15846]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Proposed Agency Information Collection Activities: Comment 
Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); and Federal 
Deposit Insurance Corporation (FDIC).

ACTION: Joint notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act (PRA) of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the 
FDIC (the agencies) may not conduct or sponsor, and the respondent is 
not required to respond to, an information collection unless it 
displays a currently valid Office of Management and Budget (OMB) 
control number. The agencies, under the auspices of the Federal 
Financial Institutions Examination Council (FFIEC), have approved the 
publication for public comment of a proposal to revise and extend the 
Market Risk Regulatory Report for Institutions Subject to the Market 
Risk Capital Rule (FFIEC 102), which is currently an approved 
collection of information for each agency. The agencies propose to 
modify this collection effective December 31, 2016, to (1) have 
institutions provide their Legal Entity Identifier (LEI) on the 
reporting form, only if they already have one, and (2) add U.S. 
Intermediate Holding Companies (IHCs) to the Board's respondent panel.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the FFIEC 
and the agencies should modify the proposed revisions prior to giving 
final approval. The agencies will then submit the revisions to OMB for 
review and approval.

DATES: Comments must be submitted on or before September 6, 2016.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the OMB 
control number, will be shared among the agencies.
    OCC: Because paper mail in the Washington, DC, area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible, to [email protected]. Alternatively, comments 
may be sent to: Legislative and Regulatory Activities Division, Office 
of the Comptroller of the Currency, Attention: 1557-0325 (FFIEC 102), 
400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 
20219. In addition, comments may be sent by fax to (571) 465-4326.
    You may personally inspect and photocopy comments at the OCC, 400 
7th Street SW., Washington, DC 20219. For security reasons, the OCC 
requires that visitors make an appointment to inspect comments. You may 
do so by calling (202) 649-6700 or for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597. Upon arrival, visitors will be required 
to present valid government-issued photo identification and to submit 
to security screening in order to inspect and photocopy comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not include any information in your comments or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Board: You may submit comments, which should refer to ``FFIEC 102'' 
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 reporting 
form 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 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.
    FDIC: You may submit comments, which should refer to ``FFIEC 102,'' 
by any of the following methods:
     Agency Web site: http://www.fdic.gov/regulations/laws/federal/. Follow the instructions for submitting comments on the FDIC 
Web site.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include ``FFIEC 102'' in the 
subject line of the message.
     Mail: Manuel E. Cabeza, Counsel, Room MB-3105, Attn: 
Comments, Federal Deposit Insurance Corporation, 550 17th Street NW., 
Washington, DC 20429.
     Hand Delivery: Comments may be hand delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street) on business days between 7:00 a.m. and 5:00 p.m.
    Public Inspection: All comments received will be posted without 
change to http://www.fdic.gov/regulations/laws/federal/ including any 
personal information provided. Paper copies of public comments may be 
requested from the FDIC Public Information Center by telephone at (877) 
275-3342 or (703) 562-2200.
    Additionally, commenters may send a copy of their comments to the 
OMB desk officer for the agencies by mail to the Office of Information 
and Regulatory Affairs, U.S. Office of Management and Budget, New 
Executive Office Building, Room 10235, 725 17th Street NW., Washington, 
DC 20503; by fax to (202) 395-6974; or by email to 
[email protected].

FOR FURTHER INFORMATION CONTACT: For further information about the 
proposed revisions to the FFIEC 102 discussed in this notice, please 
contact any of the agency clearance officers whose names appear below. 
In addition, copies of the FFIEC 102 reporting form and instructions 
are available on the FFIEC's Web site (http://www.ffiec.gov/ffiec_report_forms.htm).
    OCC: Shaquita Merritt, OCC Clearance Officer, (202) 649-5490, or 
for persons

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who are deaf or hard of hearing, TTY, (202) 649-5597, Legislative and 
Regulatory Activities Division, Office of the Comptroller of the 
Currency, 400 7th Street SW., Washington, DC 20219.
    Board: Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, 
(202) 452-3884, Office of the Chief Data Officer, Board of Governors of 
the Federal Reserve System, 20th and C Streets NW., Washington, DC 
20551. Telecommunications Device for the Deaf (TDD) users may call 
(202) 263-4869.
    FDIC: Manuel E. Cabeza, Counsel, (202) 898-3767, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION: The agencies are proposing to revise and 
extend for three years the FFIEC 102, which is currently an approved 
collection of information for each agency.
    Report Title: Market Risk Regulatory Report for Institutions 
Subject to the Market Risk Capital Rule.
    Form Number: FFIEC 102.
    Frequency of Response: Quarterly.
    Affected Public: Business or other for-profit.
OCC:
    OMB Control No.: 1557-0325.
    Estimated Number of Respondents: 12 national banks and federal 
savings associations.
    Estimated Burden per Response: 12 burden hours per quarter to file.
    Estimated Total Annual Burden: 576 burden hours to file.
Board:
    OMB Control No.: 7100-0365.
    Estimated Number of Respondents: 31 state member banks, bank 
holding companies, savings and loan holding companies, and intermediate 
holding companies.
    Estimated Burden per Response: 12 burden hours per quarter to file.
    Estimated Total Annual Burden: 1,488 burden hours to file.
FDIC:
    OMB Control No.: 3064-0199.
    Estimated Number of Respondents: 1 insured state nonmember bank and 
state savings association.
    Estimated Burden per Response: 12 burden hours per quarter to file.
    Estimated Total Annual Burden: 48 burden hours to file.

General Description of Report

    This quarterly information collection is mandatory for market risk 
institutions, defined for this purpose as those institutions that are 
subject to the market risk capital rule as incorporated into Subpart F 
of the agencies' regulatory capital rules (market risk 
institutions).\1\ All data reported in the FFIEC 102 are available to 
the public. Each market risk institution is required to file the FFIEC 
102 for the agencies' use in assessing the reasonableness and accuracy 
of the institution's calculation of its minimum capital requirements 
under the market risk capital rule and in evaluating the institution's 
capital in relation to its risks. Additionally, the market risk 
information collected in the FFIEC 102: (a) Permits the agencies to 
monitor the market risk profile of and evaluate the impact and 
competitive implications of the market risk capital rule on individual 
market risk institutions and the industry as a whole; (b) provides the 
most current statistical data available to identify areas of market 
risk on which to focus for onsite and offsite examinations; (c) allows 
the agencies 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 
capital rule; and (d) assists market risk institutions in validating 
their implementation of the market risk framework.
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    \1\ 12 CFR 3.201 (OCC); 12 CFR 217.201 (Board); and 12 CFR 
324.201 (FDIC). The market risk capital rule generally applies to 
any banking institution with aggregate trading assets and trading 
liabilities equal to (a) 10 percent or more of quarter-end total 
assets or (b) $1 billion or more. The statutory provisions that 
grant the agencies the authority to impose capital requirements are 
12 U.S.C. 161 (national banks), 12 U.S.C. 324 (state member banks), 
12 U.S.C. 1844(c) (bank holding companies), 12 U.S.C. 1467a(b) 
(savings and loan holding companies), 12 U.S.C. 5365 (U.S. 
intermediate holding companies), 12 U.S.C. 1817 (insured state 
nonmember commercial and savings banks), and 12 U.S.C. 1464 (savings 
associations).
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Discussion of Proposed Revisions

1. Reporting the Legal Entity Identifier

    The Legal Entity Identifier (LEI) is a 20-digit alpha-numeric code 
that uniquely identifies entities that engage in financial 
transactions. The recent financial crisis spurred the development of a 
Global LEI System (GLEIS). Internationally, regulators and market 
participants have recognized the importance of the LEI as a key 
improvement in financial data systems. The Group of Twenty (G-20) 
nations directed the Financial Stability Board to lead the coordination 
of international regulatory work and deliver concrete recommendations 
on the GLEIS by mid-2012, which in turn were endorsed by the G-20 later 
that same year. In January 2013, the LEI Regulatory Oversight Committee 
(ROC), which includes regulators from around the world, was established 
to oversee the GLEIS on an interim basis. With the establishment of the 
full Global LEI Foundation in 2014, the ROC continues to review and 
develop broad policy standards for LEIs. The OCC, the Board, and the 
FDIC are all members of the ROC.
    The LEI system is designed to facilitate several financial 
stability objectives, including the provision of higher quality and 
more accurate financial data. In the United States, the Financial 
Stability Oversight Council (FSOC) has recommended that regulators and 
market participants continue to work together to improve the quality 
and comprehensiveness of financial data both nationally and globally. 
In this regard, the FSOC also has recommended that its member agencies 
promote the use of the LEI in reporting requirements and rulemakings, 
where appropriate.\2\
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    \2\ Financial Stability Oversight Council 2015 Annual Report, 
page 14, http://www.treasury.gov/initiatives/fsoc/studies-reports/Documents/2015%20FSOC%20Annual%20Report.pdf.
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    Effective beginning October 31, 2014, the Board started requiring 
holding companies to provide their LEI on the cover pages of the FR Y-
6, FR Y-7, and FR Y-10 reports \3\ only if a holding company already 
has an LEI. Thus, if a reporting holding company does not have an LEI, 
it is not required to obtain one for purposes of these Board reports. 
Additionally, effective for December 2015, the Board expanded the 
collection of the LEI to all holding company subsidiary banking and 
nonbanking legal entities reportable on certain schedules of the FR Y-
10 and in one section of the FR Y-6 and FR Y-7 if an LEI has already 
been issued for the reportable entity.\4\ With respect to the FFIEC 
102, the agencies are proposing to have reporting institutions provide 
their LEI on the cover page of each report beginning December 31, 2016, 
only if an institution already has an LEI. As with the Board reports, 
an institution that does not have an LEI would not be required to 
obtain one for purposes of reporting it on the FFIEC 102.
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    \3\ FR Y-6, Annual Report of Holding Companies; FR Y-7, Annual 
Report of Foreign Banking Organizations; and FR Y-10, Report of 
Changes in Organizational Structure (OMB No. 7100-0297).
    \4\ 80 FR 38202 (July 2, 2015).
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2. Changes to the Board's Respondent Panel

    On December 14, 2012, the Board invited comment on a notice of 
proposed rulemaking (proposed Regulation YY) \5\ that would have 
required a Foreign Banking Organization (FBO) with $50 billion in

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non-branch assets to establish a U.S. IHC, imposed enhanced prudential 
standards on the U.S. IHC, and required the U.S. IHC to submit any 
reporting forms in the same manner and to the same extent as a bank 
holding company. On February 18, 2014, the Board adopted a final rule 
implementing enhanced prudential standards for FBOs (Regulation YY),\6\ 
with certain revisions in response to comments. The Board indicated in 
the preamble to Regulation YY that it would address the reporting 
requirements for U.S. IHCs at a later date. Accordingly, based on the 
background provided above, the agencies propose to add U.S. IHCs that 
are subject to the market risk capital rule to the FFIEC 102 panel of 
Board respondents.\7\ For such U.S. IHCs, the agencies are proposing to 
implement these changes beginning with the December 31, 2016, report 
date.
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    \5\ 77 FR 76628 (December 28, 2012).
    \6\ 79 FR 17240 (March 27, 2014).
    \7\ In general, U.S. IHCs are subject to the market risk capital 
rule based on the same criteria used for other banking 
organizations. See 12 CFR 217.201(b)(1); 12 CFR 252.153(e)(2).
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Request for Comment

    Public comment is requested on all aspects of this joint notice. 
Comments are invited on:
    (a) Whether the collections of information that are the subject of 
this notice are necessary for the proper performance of the agencies' 
functions, including whether the information has practical utility;
    (b) The accuracy of the agencies' estimates of the burden of the 
information collections as they are proposed to be revised, 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 collections 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 the information.
    Comments submitted in response to this joint notice will be shared 
among the agencies and will be summarized or included in the agencies' 
requests for OMB approval. All comments will become a matter of public 
record.

    Dated: June 20, 2016.
Stuart Feldstein,
Director, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency.

    Board of Governors of the Federal Reserve System, June 24, 2016.
Robert deV. Frierson,
Secretary of the Board.

    Dated at Washington, DC, this 20 day of June 2016.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-15846 Filed 7-1-16; 8:45 am]
 BILLING CODE 6210-01-P; 4810-33-P; 6714-01-P