[Federal Register Volume 84, Number 67 (Monday, April 8, 2019)]
[Notices]
[Pages 13918-13919]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06796]
-----------------------------------------------------------------------
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 Reporting Requirements Associated with Supervision and Regulation
Assessments of Fees (Regulation TT); (FR TT; \1\ OMB No. 7100-0369).
---------------------------------------------------------------------------
\1\ The internal Agency Tracking Number previously assigned by
the Board to this information collection was Reg TT. The Board is
changing the internal Agency Tracking Number for the purpose of
consistency.
---------------------------------------------------------------------------
DATES: Comments must be submitted on or before June 7, 2019.
ADDRESSES: You may submit comments, identified by FR TT, 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 on 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 in Room 146,
1709 New York Avenue 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
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.
FOR FURTHER INFORMATION CONTACT: A copy of the Paperwork Reduction Act
(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
[[Page 13919]]
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, OMB delegated to the Board
authority under the 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: Reporting Requirements Associated with Supervision
and Regulation Assessments of Fees (Regulation TT).
Agency form number: FR TT.
OMB control number: 7100-0369.
Frequency: On occasion.
Respondents: Bank holding companies (BHCs) and savings and loan
holding companies (SLHCs).
Estimated number of respondents: 3.
Estimated average hours per response: 40.
Estimated annual burden hours: 120.
General description of report: The Board's Regulation TT \2\
implements section 11(s) of the Federal Reserve Act (FRA),\3\ which
directs the Board to collect assessments, fees, or other charges
(collectively, ``assessments'') from BHCs and SLHCs that meet a
statutory size threshold and from all nonbank financial companies
designated for Board supervision by the Financial Stability Oversight
Council (FSOC) (collectively, assessed companies) in an amount equal to
the total expenses the Board estimates are necessary or appropriate to
carry out its supervisory and regulatory responsibilities with respect
to such companies. Pursuant to Regulation TT, the Board issues an
annual notice of assessment to each assessed company. Assessed
companies may file a written appeal with the Board regarding the
assessment.\4\
---------------------------------------------------------------------------
\2\ 12 CFR part 246.
\3\ 12 U.S.C. 248(s). Section 11(s) of the Federal Reserve Act
was added by section 318 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act.
\4\ 12 CFR 246.5(b).
---------------------------------------------------------------------------
Proposed revisions: Section 401(c) of the Economic Growth,
Regulatory Relief, and Consumer Protection Act (EGRRCPA) raised the
size threshold in section 11(s) of the FRA for assessments for BHCs and
SLHCs from $50 billion to $100 billion in total consolidated assets.
Therefore, BHCs and SLHCs with total consolidated assets of at least
$50 billion but less than $100 billion are no longer subject to section
11(s) assessments.\5\ Accordingly, the Board proposes to revise this
collection of information so that it no longer applies to such BHCs and
SLHCs.
---------------------------------------------------------------------------
\5\ The Board intends to publish a final rule to implement
section 401(c) of EGRRCPA, which also requires the Board to adjust
the amount charged to assessed companies to reflect any changes in
supervisory and regulatory responsibilities resulting from EGRRCPA,
in the near future.
---------------------------------------------------------------------------
Legal authorization and confidentiality: The FR TT is authorized
pursuant to section 11(i) of the FRA (12 U.S.C. 248(i)), which provides
that the Board shall make all rules and regulations necessary to enable
the Board to effectively perform the duties, functions, or services
specified in the FRA. The FR TT is voluntary.
An assessed company may request confidential treatment of its
appeal if it believes that disclosure of specific commercial or
financial information in the statement would likely result in
substantial harm to its competitive position. The determination that
such information is confidential and not subject to disclosure under
the Freedom of Information Act (FOIA) (5 U.S.C. 552), would need to
made on a case-by-case basis, consistent with FOIA exemption 4 (5
U.S.C. 552(b)(4)).
Board of Governors of the Federal Reserve System, April 2, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-06796 Filed 4-5-19; 8:45 am]
BILLING CODE 6210-01-P