[Federal Register Volume 84, Number 138 (Thursday, July 18, 2019)]
[Notices]
[Pages 34394-34395]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15312]


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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, without revision, the 
Semiannual Report of Derivatives Activity (FR 2436; OMB No. 7100-0286).

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.
    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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be placed into OMB's public docket files. 
These documents also are available on the Federal Reserve Board's 
public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, 
whose name appears above.

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. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the PRA submission, supporting 
statements and approved collection of information instrument(s) are 
placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Semiannual Report of Derivatives Activity.
    Agency form number: FR 2436.
    OMB control number: 7100-0286.
    Frequency: Semiannually.
    Respondents: Largest 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: Derivatives dealers provide data on 
outstanding positions (notional, gross positive, and gross negative 
fair values) with breakdowns by broad market risk category, product 
type, counterparty type, maturity, and specific underlying market 
risks--the currency, equity market, or reference entity that underlie 
the contract. In addition, reporters provide data on the credit 
exposures and liabilities arising from all outstanding credit default 
swaps contracts, as well as from the entire portfolio.
    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)),

[[Page 34395]]

which protects from disclosure ``trade secrets and commercial or 
financial information obtained from a person [that is] privileged or 
confidential.''
    Current actions: On April 17, 2019, the Board published a notice in 
the Federal Register (84 FR 16015) requesting public comment for 60 
days on the extension, without revision, of the FR 2436. The comment 
period for this notice expired on June 17, 2019. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, July 15, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-15312 Filed 7-17-19; 8:45 am]
BILLING CODE 6210-01-P