[Federal Register Volume 84, Number 59 (Wednesday, March 27, 2019)]
[Notices]
[Pages 11546-11547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-05841]


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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, with revision, the 
Complex Institution Liquidity Monitoring Report (FR 2052a; OMB No. 
7100-0361). The revisions are applicable as of March 31, 2019.

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.
    Office of Management and Budget (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 Federal Reserve 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, with revision, of the following information collection:
    Report title: Complex Institution Liquidity Monitoring Report.
    Agency form number: FR 2052a.
    OMB control number: 7100-0361.
    Effective date: March 31, 2019.
    Frequency: Monthly, or each business day (daily).
    Respondents: Certain U.S. bank holding companies (BHCs), U.S. 
savings and loan holding companies (SLHCs), and foreign banking 
organizations (FBOs) with U.S. assets.
    Estimated number of respondents: Monthly, 40; daily, 12.
    Estimated average hours per response: Monthly, 120 hours; daily, 
220 hours.
    Estimated annual burden hours: 717,600 hours.
    General description of report: The FR 2052a is filed by U.S. BHCs 
and 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 FBOs, 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 an FBO, 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. 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.
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    \1\ BHCs that are subsidiaries of an FBO 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.
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    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 Wall Street Reform and Consumer Protection Act (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

[[Page 11547]]

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 of 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.
    Current actions: On December 28, 2019, the Board published a notice 
in the Federal Register (83 FR 67285) requesting public comment for 60 
days on the extension, with revision, of the FR 2052a. 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 and the Board's related interim final rule amending the 
treatment of certain municipal obligations that are liquid and readily 
marketable as high quality liquid assets (HQLAs) under the LCR rule.\4\ 
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 HQLAs under the LCR rule. The comment 
period for this notice expired on February 26, 2019. The Board did not 
receive any comments. The revisions will be implemented as proposed. 
Board of Governors of the Federal Reserve System, March 22, 2019.
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    \3\ See 83 FR 46163 (September 12, 2018).
    \4\ See 83 FR 44451 (August 31, 2018).

Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-05841 Filed 3-26-19; 8:45 am]
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