[Federal Register Volume 84, Number 29 (Tuesday, February 12, 2019)]
[Notices]
[Pages 3445-3446]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-01953]
-----------------------------------------------------------------------
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
Notice Requirements Associated with Regulation W (FR W; OMB No. 7100-
0304).
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 Paperwork Reduction Act
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
[[Page 3446]]
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: Notice Requirements Associated with Regulation W.
Agency form number: FR W.\1\
---------------------------------------------------------------------------
\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.
---------------------------------------------------------------------------
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 223.43(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).
Current actions: On November 9, 2018, the Board published a notice
in the Federal Register (83 FR 56080) requesting public comment for 60
days on the extension, without revision, of the Notice Requirements
Associated with Regulation W. The comment period for this notice
expired on January 8, 2019. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, February 6,
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-01953 Filed 2-11-19; 8:45 am]
BILLING CODE 6210-01-P