[Federal Register Volume 84, Number 74 (Wednesday, April 17, 2019)]
[Notices]
[Pages 16015-16016]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-07650]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Semiannual Report of Derivatives Activity (FR 2436; OMB
No. 7100-0286).
DATES: Comments must be submitted on or before June 17, 2019.
ADDRESSES: You may submit comments, identified by FR 2436, by any of
the following methods:
Agency Website: [deg]://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
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.
[[Page 16016]]
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,
Without Revision, the Following Information Collection:
Report title: Semiannual Report of Derivatives Activity.
Agency form number: FR 2436.
OMB control number: 7100-0286.
Frequency: Semiannually.
Respondents: U.S. dealers of over-the-counter (OTC) derivatives.
Estimated number of respondents: 8.
Estimated average hours per response: 236.
Estimated annual burden hours: 3,776.
General description of report: The Semiannual Report of Derivatives
Activity collects derivatives market statistics from the eight largest
U.S. dealers of OTC derivatives. Data are collected on the notional
amounts and gross fair values of the volumes outstanding of broad
categories of foreign exchange, interest rate, equity, commodity-
linked, and credit default swap OTC derivatives contracts across a
range of underlying currencies, interest rates, and equity markets.
This collection of information complements the triennial Central
Bank Survey of Foreign Exchange and Derivatives Market Activity (FR
3036; OMB No. 7100-0285). The FR 2436 collects similar data on the
outstanding volume of derivatives, but not on derivatives turnover. The
Board conducts both surveys in coordination with other central banks.
The aggregated U.S. data is compiled and forwarded to the Bank for
International Settlements (BIS), which publishes global market
statistics that are aggregates of national data.
Legal authorization and confidentiality: This report is authorized
under sections 2A and 12A of the Federal Reserve Act (FRA). Section 2A
of the FRA requires the Federal Reserve Board and the Federal Open
Market Committee (FOMC) to maintain long run growth of the monetary and
credit aggregates commensurate with the economy's long run potential to
increase production, so as to promote effectively the goals of maximum
employment, stable prices, and moderate long-term interest rates (12
U.S.C. 225a). Section 12A of the FRA requires the FOMC to implement
regulations relating to the open market operations conducted by Federal
Reserve Banks with a view to accommodating commerce and business and
with regard to their bearing upon the general credit situation of the
country (12 U.S.C. 263). Because the Federal Reserve System uses the
information obtained from the FR 2436 to fulfill these obligations,
these statutory provisions provide the legal authorization for the
collection of information on the FR 2436.
The FR 2436 is voluntary. Because the release of this information
would cause substantial harm to the competitive position of the entity
from whom the information was obtained, the information collected on
the FR 2436 may be granted confidential treatment under exemption
(b)(4) of the Freedom of Information Act (5 U.S.C. 552(b)(4)), which
protects from disclosure ``trade secrets and commercial or financial
information obtained from a person and privileged or confidential.''
Board of Governors of the Federal Reserve System, April 11,
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-07650 Filed 4-16-19; 8:45 am]
BILLING CODE 6210-01-P