[Federal Register Volume 84, Number 122 (Tuesday, June 25, 2019)]
[Notices]
[Pages 29862-29864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-13490]


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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, with revision, 
the Interagency Policy Statement on Funding and Liquidity Risk 
Management (FR 4198; OMB No. 7100-0326).

DATES: Comments must be submitted on or before August 26, 2019.

ADDRESSES: You may submit comments, identified by FR 4198, 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 https://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 form 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

[[Page 29863]]

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.

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: Interagency Policy Statement on Funding and Liquidity 
Risk Management.
    Agency form number: FR 4198.
    OMB control number: 7100-0326.
    Frequency: Annually.
    Respondents: Bank holding companies, savings and loan holding 
companies, state-licensed branches and agencies of foreign banks (other 
than insured branches), corporations organized or operating under 
sections 25 or 25A of the Federal Reserve Act (agreement corporations 
and Edge corporations), and state member banks (collectively, financial 
institutions).
    Estimated number of respondents: Implementing recordkeeping, 30; 
ongoing recordkeeping, 4,789.
    Estimated average hours per response: Implementing recordkeeping, 
160 hours; ongoing recordkeeping, 32 hours.
    Estimated annual burden hours: 158,048 hours.
    General description of report: The Interagency Policy Statement on 
Funding and Liquidity Risk Management (Guidance) \1\ states that 
financial institutions should develop and document liquidity risk 
management policies and procedures commensurate with the institution's 
complexity, risk profile, and scope of operations. Sections 3 and 6 of 
the Guidance provide that financial institutions should maintain such 
policies and procedures. Section 6 of the Guidance states that 
financial institutions should have a contingency funding plan (CFP) 
that sufficiently addresses potential adverse liquid events and 
emergency cash flow requirements, and section 34 of the Guidance states 
that the CFP should be documented.
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    \1\ ``Interagency Policy Statement on Funding and Liquidity Risk 
Management,'' 75 FR 13656 (March 22, 2010). The Guidance was 
published jointly by the Board, the Office of the Comptroller of the 
Currency, the Office of Thrift Supervision, the Federal Deposit 
Insurance Corporation, and the National Credit Union Administration.
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    Proposed revisions: The Board is proposing to revise the FR 4198 to 
account for all of the recordkeeping provisions set forth in the 
Guidance related to liquidity risk management policies, procedures, and 
assumptions, and CFPs. The FR 4198 currently does not account for the 
recordkeeping provisions related to CFPs and does not fully account for 
the recordkeeping provisions related to liquidity risk management 
policies, procedures, and assumptions.
    Legal authorization and confidentiality: The recordkeeping 
provisions of the Guidance are authorized pursuant to sections 9(6), 
25, and 25A of the Federal Reserve Act \2\ (for state member banks, 
agreement corporations, and Edge corporations, respectively); section 
5(c) of the Bank Holding Company Act \3\ (for bank holding companies); 
section 10(b)(3) of the Home Owners' Loan Act \4\ (savings and loan 
holding companies); and section 7(c)(2) of the International Banking 
Act \5\ (state-licensed branches and agencies of foreign banks, other 
than insured branches). Because the recordkeeping provisions are 
contained within guidance, which is nonbinding, they are voluntary.\6\ 
There are no reporting forms associated with this information 
collection.
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    \2\ 12 U.S.C. 324, 602, and 625, respectively.
    \3\ 12 U.S.C. 1844(c).
    \4\ 12 U.S.C. 1467a(b)(3).
    \5\ 12 U.S.C. 3105(c)(2).
    \6\ See SR 18-5/CA 18-7: Interagency Statement Clarifying the 
Role of Supervisory Guidance (Sept. 11, 2018).
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    Because these records would be maintained at each banking 
organization, the Freedom of Information Act (FOIA) would only be 
implicated if the Board obtained such records as part of the 
examination or supervision of a banking organization. In the event the 
records are obtained by the Board as part of an examination or 
supervision of a financial institution, this information may be 
considered confidential pursuant to exemption 8 of the FOIA, which 
protects information contained in ``examination, operating, or 
condition reports'' obtained in the bank supervisory process (5 U.S.C. 
552(b)(8)). In addition, the information may also be kept confidential 
under exemption 4 for the FOIA, which protects ``commercial or 
financial information obtained from a person [that is] privileged or 
confidential'' (5 U.S.C. 552(b)(4)).
    Consultation outside the agency: The Guidance was published jointly 
by the Board, the Office of the Comptroller of

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the Currency, the Office of Thrift Supervision, the Federal Deposit 
Insurance Corporation, and the National Credit Union Administration. 
There has been no consultation outside of the Federal Reserve System 
with regard to the current proposal to extend the FR 4198 for three 
years, with revision.

    Board of Governors of the Federal Reserve System, June 20, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-13490 Filed 6-24-19; 8:45 am]
BILLING CODE 6210-01-P