[Federal Register Volume 83, Number 218 (Friday, November 9, 2018)]
[Notices]
[Pages 56080-56081]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24531]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Notice Requirements Associated with Regulation W (FR W;
OMB No. 7100-0304).
DATES: Comments must be submitted on or before January 8, 2019.
ADDRESSES: You may submit comments, identified by FR W, by any of the
following methods:
Agency website: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx .
Email: [email protected]. Include OMB
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Ann E. Misback, 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 website 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. For security
reasons, the Board requires that visitors make an appointment to
inspect comments. You may do so by calling (202) 452-3684. 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.
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 website 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: On June 15, 1984, the Office of Management
and Budget (OMB) delegated to the Board authority under the Paperwork
Reduction Act (PRA) to approve 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.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board'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 startup costs and costs of operation,
maintenance,
[[Page 56081]]
and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Report
Report title: Notice Requirements Associated with Regulation W.
Agency form number: FR W.\1\
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\1\ The internal Agency Tracking Number previously assigned by
the Board to this information collection was ``Reg W.'' The Board is
changing the internal Agency Tracking Number for the purpose of
consistency.
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OMB control number: 7100-0304.
Frequency: On occasion.
Respondents: Depository institutions.
Estimated number of respondents: 4.
Estimated average hours per response: Section 223.15(b)(4), 2;
Section 223.31(d)(4), 6; Section 223.41(d)(2), 6; Section 223.43(b),
10.
Estimated annual burden hours: 24.
General description of report: The information collection
associated with the Board's Regulation W (Transactions Between Member
Banks and Their Affiliates; 12 CFR part 223) is triggered by specific
events, and there are no associated reporting forms. Filings are
required from insured depository institutions and uninsured member
banks that seek to request certain exemptions from the requirements of
sections 23A and 23B of the Federal Reserve Act. This information
collection is separate from the quarterly Bank Holding Company Report
of Insured Depository Institutions' Section 23A Transactions with
Affiliates (FR Y-8; OMB No. 7100-0126), which collects information on
transactions between an insured depository institution and its
affiliates that are subject to section 23A of the Federal Reserve Act.
This collection of information comprises the reporting requirements of
Regulation W that are found in sections 223.15(b)(4), 223.31(d)(4),
223.41(d)(2), and 223.43(b). This information is used to demonstrate
compliance with sections 23A and 23B of the Federal Reserve Act (FRA),
12 U.S.C. 371c(f) and 371c-1(e), and to request an exemption from the
Board.
Legal authorization and confidentiality: Sections 23A and 23B of
the FRA authorize the Board to issue these notice requirements (12
U.S.C. 371c(f) and 371c-1(e)). Respondents are required to file one or
more of the Regulation W notices in order to obtain the benefits noted
above. Information provided on the Loan Participation Renewal notice is
confidential under exemption 4 of the Freedom of Information Act
(FOIA), 5 U.S.C. 552(b)(4), because the information is typically
considered confidential commercial or financial information and is
reasonably likely to result in substantial competitive harm if
disclosed. However, information provided on the Acquisition notice, the
Internal Corporate Reorganization Transaction notice, and the Section
23A Additional Exemption request generally is not considered
confidential under exemption 4. Respondents who desire that the
information on one of these three submissions be kept confidential
pursuant to exemption 4 of the FOIA may request confidential treatment
under the Board's rules at 12 CFR 261.15. In addition, any information
that is obtained as a part of an examination or supervision of a
financial institution is exempt from disclosure under exemption 8 of
the FOIA, 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, November 5,
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-24531 Filed 11-8-18; 8:45 am]
BILLING CODE 6210-01-P