[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]


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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 
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\
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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 223.43(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