[Federal Register Volume 84, Number 202 (Friday, October 18, 2019)]
[Notices]
[Pages 55957-55958]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22736]


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

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 
collections of information 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

[[Page 55958]]

Years, With Revision, of 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.
    Effective Date: Immediately.
    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.
    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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    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\ (for savings and loan 
holding companies); and section 7(c)(2) of the International Banking 
Act \5\ (for 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 of the FOIA, which protects ``commercial or financial 
information obtained from a person [that is] privileged or 
confidential'' (5 U.S.C. 552(b)(4)).
    Current actions: On June 25, 2019, the Board published a notice in 
the Federal Register (84 FR 29862) requesting public comment for 60 
days on the extension, with revision, of the Interagency Policy 
Statement on Funding and Liquidity Risk Management. The Board proposed 
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 comment 
period for this notice expired on August 26, 2019. The Board did not 
receive any comments. The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, October 11, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-22736 Filed 10-17-19; 8:45 am]
 BILLING CODE 6210-01-P