[Federal Register Volume 84, Number 21 (Thursday, January 31, 2019)]
[Notices]
[Pages 720-721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00364]
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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)
is adopting a proposal to extend for three years, without revision, the
Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322).
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
or by fax to (202) 395-6974.
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. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the PRA submission, supporting
statements and approved collection of information instrument(s) are
placed into OMB's public docket files. The Board may not conduct or
sponsor, and the respondent is not required to respond to, an
information collection that has been extended, revised, or implemented
on or after October 1, 1995, unless it displays a currently valid OMB
control number.
Final approval under OMB delegated authority of the extension for
three years, without revision, of the following information collection:
Report title: Supervisory and Regulatory Survey.
Agency form number: FR 3052.
OMB control number: 7100-0322.
Frequency: On occasion.
Respondents: Bank holding companies (BHCs), state member banks
(SMBs), savings and loan holding companies (SLHCs), intermediate
holding companies, U.S. branches and agencies of foreign banking
organizations (FBOs), Edge and agreement corporations, nonbank
financial companies that the Financial Stability Oversight Council
(FSOC) has determined should be supervised by the Board, or the
combined domestic operations of FBOs.
Estimated number of respondents: 5,000.
Estimated average hours per response: 0.5 hours.
Estimated annual burden hours: 60,000 hours.
General description of report: The FR 3052 collects information
from financial institutions specifically tailored to the Federal
Reserve's supervisory, regulatory, and operational responsibilities.
Examples of past surveys include collected information related to
regulatory capital, operational risk loss event history, and
transactions by securities dealers. The frequency and content of the
questions depend on changing economic, regulatory, supervisory, or
legislative developments.
The Board utilizes the survey process, as needed, to collect
information on specific issues that affect its decision-making. The
principal value of the FR 3052 is the flexibility it provides the
Federal Reserve to respond quickly to the need for data due to
unanticipated economic, financial, supervisory, or regulatory
developments. The Board cannot predict what specific information will
be needed, but such needs are generally very time sensitive. Because
the relevant questions may change with each survey, there is no fixed
reporting form.
Written qualitative questions or questionnaires may include
categorical questions, yes-no questions, ordinal questions, and open-
ended questions. Written quantitative surveys may include dollar
amounts, percentages, numbers of items, interest rates, and other such
information. Institutions may also be required to provide copies of
existing documents (for example, pertaining to practices and
performances for a particular business activity). Before conducting a
survey, the Board reviews any information to be collected to determine
if the information is available by other means.
The Board welcomes feedback from firms on surveys conducted under
the FR 3052, both formally, through frequently asked questions, and
informally via outreach sessions, ad-hoc discussions, and emails. As a
general matter, the Board is unable to guarantee the release of surveys
under the FR 3052 for notice and comment because of the quick
turnarounds sometimes required. However, when a survey template is
available in advance of the planned distribution date, the Board works
to distribute the template to respondents early for information
purposes, and when time allows, to obtain feedback.
Legal authorization and confidentiality: The FR 3052 is authorized
pursuant to section 9 of the Federal Reserve Act (FRA) (12 U.S.C. 324)
for SMBs; section 5 of the Bank Holding Company Act (12 U.S.C.
[[Page 721]]
1844(c)(1)(A)) for BHCs and their subsidiaries; section 10 of the Home
Owners' Loan Act (12 U.S.C. 1467a(b)(1)) for SLHCs and their
subsidiaries; section 7(c)(2) of International Banking Act (IBA) (12
U.S.C. 3105(c)(2)) for the U.S. branches and agencies of foreign banks;
section 8 of the IBA (12 U.S.C. 3106) for foreign banking
organizations; sections 25 and 25A of the FRA (12 U.S.C. 602 and 625)
for Edge and agreement corporations; and section 161 of the Dodd-Frank
Wall Street Reform and Consumer Protection Act (12 U.S.C. 5361) for
nonbank financial companies designated by FSOC for supervision by the
Board.
The surveys would be conducted on a voluntary basis. The questions
asked on each survey would vary, so the ability of the Board to
maintain the confidentiality of information collected would be
determined on a case by case basis. It is possible that the information
collected would constitute confidential commercial or financial
information, which may be kept confidential under exemption 4 of the
Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)). In
circumstances where the Board collects information related to
individuals, exemption 6 of the FOIA would protect information ``the
disclosure of which would constitute a clearly unwarranted invasion of
personal privacy'' (5 U.S.C. 552(b)(6)). To the extent the information
collected relates to examination, operating, or condition reports
prepared for the use of an agency supervising financial institutions,
such information may be kept confidential under exemption 8 of the FOIA
(5 U.S.C. 552(b)(8)).
Current actions: On August 28, 2018, the Board published a notice
in the Federal Register (83 FR 43870) requesting public comment for 60
days on the extension, without revision, of the Supervisory and
Regulatory Survey. The comment period for this notice expired on
October 29, 2018. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, January 17,
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-00364 Filed 1-30-19; 8:45 am]
BILLING CODE 6210-01-P