[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