[Federal Register Volume 83, Number 248 (Friday, December 28, 2018)]
[Notices]
[Pages 67285-67286]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-28204]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Complex Institution Liquidity Monitoring Report (FR 2052a; OMB No. 
7100-0361).

DATES: Comments must be submitted on or before February 26, 2019.

ADDRESSES: You may submit comments, identified by FR 2052a, 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 NW (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, if approved. These documents will also be made available 
on the 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, 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 Under OMB Delegated Authority To Extend for Three Years, With 
Revision, the Following Information Collection

    Report title: Complex Institution Monitoring Report.
    Agency form number: FR 2052a.
    OMB control number: 7100-0361.
    Frequency: Monthly, each business day (daily).
    Respondents: Certain U.S. bank holding companies, U.S. savings and 
loan holding companies, and foreign banking organizations with U.S. 
assets.
    Estimated number of respondents: Monthly, 40; Daily, 12.
    Estimated average hours per response: Monthly, 120; Daily, 220.
    Estimated annual burden hours: 717,600.

[[Page 67286]]

    General description of report: The FR 2052a is filed by U.S. bank 
holding companies (BHCs) and savings and loan holding companies (SLHCs) 
that are subject to the Liquidity Coverage Ratio rule (LCR rule) as a 
``covered depository institution holding company,'' as defined in 
section 249.3 of the Board's Regulation WW (12 CFR 249.3) 
(collectively, U.S. firms),\1\ with total consolidated assets of $50 
billion or more and foreign banking organizations, as defined by 
section 211.21(o) of the Board's Regulation K and including any U.S. 
bank holding company that is a subsidiary of a foreign banking 
organization (collectively, FBOs), with combined U.S. assets of $50 
billion or more.\2\ Reporting frequency is based on the asset size of 
the firm and whether it has been identified as a firm supervised 
through the Large Institution Supervision Coordinating Committee of the 
Board.
---------------------------------------------------------------------------

    \1\ BHCs that are subsidiaries of a foreign banking organization 
are excluded from the definition of ``U.S. firm.''
    \2\ The Board has stated that it will not take action to require 
bank holding companies or savings and loan holding companies with 
less than $100 billion in total consolidated assets to comply with 
certain existing regulatory requirements, including the requirements 
to report the 2052a. See Statement regarding the impact of the 
Economic Growth, Regulatory Relief, and Consumer Protection Act 
(July 6, 2018), available at https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20180706b1.pdf. Subsequently, 
the Board invited comment on a proposal that would more closely 
match the regulations for large banking organizations with their 
risk profiles, which included proposals that would affect the scope 
of application of the FR 2052a. The press release is available at 
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20181031a.htm.
---------------------------------------------------------------------------

    The FR 2052a is used to monitor the overall liquidity profile of 
certain institutions supervised by the Board. These data provide 
detailed information on the liquidity risks within different business 
lines (e.g., financing of securities positions, prime brokerage 
activities). In particular, these data serve as part of the Board's 
supervisory surveillance program in its liquidity risk management area 
and provide timely information on firm-specific liquidity risks during 
periods of stress. Analyses of systemic and idiosyncratic liquidity 
risk issues are then used to inform the Board's supervisory processes, 
including the preparation of analytical reports that detail funding 
vulnerabilities.
    Proposed revisions: On September 12, 2018, the Board temporarily 
approved \3\ certain revisions to the FR 2052a relating to the 
Economic, Growth, Regulatory Relief, and Consumer Protection Act 
(EGRRCPA) and Board's related interim final rule amending the LCR 
Rule.\4\ As required by section 403 of EGRRCPA, the Board amended the 
LCR rule within 90 days of the enactment of EGRRCPA to treat investment 
grade municipal obligations that are liquid and readily-marketable as 
level 2B HQLA for purposes of their liquidity regulations. Therefore, 
the Board temporarily revised the asset categories in the FR 2052a to 
enable institutions to report certain municipal obligations that meet 
all the requirements for inclusion as HQLA under section 20 of the LCR 
rule, as amended.\5\ Specifically, the Board amended the Assets 
Category Table in Appendix III of the FR 2052a such that the 
description of the asset classification code ``IG2-Q'' is sufficiently 
inclusive of municipal obligations that may qualify as HQLA under the 
LCR rule. The Board is now proposing to extend for three years these 
temporary revisions to the FR 2052a.
---------------------------------------------------------------------------

    \3\ See 83 FR 46163 (September 12, 2018).
    \4\ See 83 FR 44451 (August 31, 2018).
    \5\ See 12 CFR part 249.20.
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The FR 2052a report is 
authorized to be collected from BHCs pursuant to section 5(c) of the 
Bank Holding Company Act (``BHC Act''), 12 U.S.C. 1844(c); from FBOs 
pursuant to section 8(a) of the International Banking Act, 12 U.S.C. 
3106(a); from certain BHCs and FBOs pursuant to section 165 of the 
Dodd-Frank Act, 12 U.S.C. 5365; and from SLHCs pursuant to section 
10(b)(2) and (g) of the Home Owners' Loan Act (``HOLA''), 12 U.S.C. 
1467a(b)(2) and (g). Section 5(c) of the BHC Act authorizes the Board 
to require BHCs to submit reports to the Board regarding their 
financial condition, and section 8(a) of the International Banking Act 
subjects FBOs to the provisions of the BHC Act. Section 165 of the 
Dodd-Frank Act requires the Board to establish prudential standards, 
including liquidity requirements, for certain BHCs and FBOs. Section 
10(g) of HOLA authorizes the Board to collect reports from SLHCs. The 
FR 2052a report is mandatory for covered institutions.
    The information required to be provided on the FR 2052a is 
collected as part of the Board's supervisory process. Accordingly, such 
information is afforded confidential treatment under exemption 8 of the 
Freedom of Information Act (``FOIA''), which protects information from 
disclosure that is contained in or related to the examination or 
supervision of a financial institution. 5 U.S.C. 552(b)(8). In 
addition, the information may also be kept confidential under exemption 
4 for the FOIA, which protects trade secrets or confidential commercial 
or financial information. 5 U.S.C. 552(b)(4). In limited circumstances, 
aggregate data for multiple respondents, which does not reveal the 
identity of any individual respondent, may be released.
    Consultation outside the agency: The Board consulted with other 
U.S. regulatory authorities, including the Office of the Comptroller of 
the Currency and Federal Deposit Insurance Corporation, in determining 
to propose revisions to the FR 2052a.

    Board of Governors of the Federal Reserve System, December 20, 
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-28204 Filed 12-27-18; 8:45 am]
 BILLING CODE 6210-01-P