[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