[Federal Register Volume 81, Number 238 (Monday, December 12, 2016)]
[Notices]
[Pages 89463-89464]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29606]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board or 
Federal Reserve) is adopting a proposal to revise, with revision, the 
Joint Standards for Assessing Diversity Policies and Practices (Policy 
Statement).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

FOR FURTHER INFORMATION CONTACT:
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.
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.

    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following report:
    Report title: Joint Standards for Assessing Diversity Policies and 
Practices.
    Agency form number: FR 2100.
    OMB control number: 7100-0368.
    Frequency: Annual.
    Respondents: Financial institutions regulated by the Federal 
Reserve.
    Estimated annual burden hours: 3,912 hours.
    Estimated average hours per response: 8 hours.
    Number of respondents: 488.
    General description of report: Section 342 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) 
requires the Office of the Comptroller of the Currency (OCC), Board of 
Governors of the Federal Reserve System (Board), Federal Deposit 
Insurance Corporation (FDIC), National Credit Union Administration 
(NCUA), Bureau of Consumer Financial Protection (CFPB), and Securities 
and Exchange Commission (SEC) (the Agencies) each to establish an 
Office of Minority and Women Inclusion (OMWI) to be responsible for all 
matters of the Agency relating to diversity in management, employment, 
and business activities. Section 342 requires each OMWI director to 
develop standards for ``assessing the diversity policies and practices 
of entities regulated by the agency.'' The Policy Statement, published 
jointly by the Agencies in June 2015, contain those standards.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the information collections contained within the 
Policy Statement are authorized by section 342 of the Dodd-Frank Act, 
which requires the Board's OMWI director to develop standards for 
assessing regulated entities' diversity policies and practices and are 
voluntary.
    The Standard regarding transparency, and a portion of the self-
assessment Standard, call for regulated entities to provide information 
to the public, so confidentiality is not an issue with respect to those 
aspects of the Policy. A regulated entity may provide self-assessment 
material to the Board that contains confidential commercial information 
protectable under exemption 4 of the Freedom of Information Act, 5 
U.S.C. 552(b)(4), and may request that the information be kept 
confidential on a case-by-case basis. The Federal Reserve will 
determine whether the information is entitled to confidential treatment 
on an ad hoc basis in connection with such a request. As noted in the 
Policy Statement, an entity's primary federal regulator may share 
information obtained from regulated entities with other Agencies, but 
will publish information disclosed to them only in a form that does not 
identify a particular entity or individual or disclose confidential 
business information.
    Current Actions: The Federal Reserve previously received OMB 
approval for a voluntary information collection with respect to the 
Policy Statement, pursuant to which entities regulated by the Federal 
Reserve voluntarily self-assess their diversity policies and 
practices.\1\ This revision to that collection adds the Diversity Self-
Assessment Template to assist with the self-assessment. The Template 
(1) asks for general information about a respondent; (2) includes a 
checklist of the standards set forth in the Policy Statement; (3) seeks 
additional diversity data; and (4) provides an opportunity for a 
respondent to provide other information regarding or comment on the 
self-assessment of its diversity policies and practices.
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    \1\ 80 FR 33016 (June 10, 2015).
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    On September 27, 2016, the Federal Reserve published a notice in 
the Federal Register (81 FR 66275) requesting comment on the proposal 
to include a reporting tool entitled ``Diversity Self-Assessment 
Template.'' The comment period for this notice expired on November 28, 
2016. The Federal Reserve did not receive any comments. The reporting 
template will be implemented as proposed.


[[Page 89464]]


    Board of Governors of the Federal Reserve System, December 6, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-29606 Filed 12-9-16; 8:45 am]
BILLING CODE 6210-01-P