[Federal Register Volume 85, Number 224 (Thursday, November 19, 2020)]
[Rules and Regulations]
[Pages 73603-73604]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-24088]


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FEDERAL RESERVE SYSTEM

12 CFR Part 261a

[Docket No. R-1704]
RIN 7100-AF78


Privacy Act of 1974; Privacy Act Regulation

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is issuing a final rule revising its regulation implementing the 
Privacy Act of 1974 (Privacy Act Rule) to add BGFRS-43, ``FRB--Security 
Sharing Platform,'' to the list of systems of records identified as 
``exempt'' systems of records.

DATES: Effective November 19, 2020.

FOR FURTHER INFORMATION CONTACT: David B. Husband, Counsel, (202) 530-
6270, or [email protected]; Legal Division, Board of Governors of 
the Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.

SUPPLEMENTARY INFORMATION: On April 1, 2020, the Board published a 
notice of proposed rulemaking to amend the Board's Privacy Act Rule, 
with a 30-day public comment period ending on May 1, 2020 and 
concurrently, in a separate notice, established BGFRS-43 as a new 
system of records.\1\ The rulemaking proposed to add BGFRS-43 to the 
Board's list of exempt systems of records pursuant to 5 U.S.C. 
552a(k)(2), which exempts the listed system of record from certain 
provisions of the Privacy Act to the extent the system contains 
investigatory material compiled for law enforcement purposes. The Board 
did not receive any comments on the proposed amendment to the Privacy 
Act Rule and therefore,

[[Page 73604]]

the Board is adopting the proposed rule as final, without modification.
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    \1\ See, 85 FR 18156 (April 1, 2020) (Notice of Proposed 
Rulemaking) and 85 FR 18240 (April 1, 2020) (System of Records 
Notice). BGFRS-43, ``FRB--Security Sharing Platform,'' became 
effective on May 1, 2020.
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    Accordingly, the Board is amending 12 CFR 261a.12(b) to redesignate 
paragraph (b)(11) referencing BGFRS/OIG-1 Investigative Records as 
paragraph (b)(12) and adding ``BGFRS-43, Security Sharing Platform'' as 
new paragraph (b)(11).

Regulatory Flexibility Act

    In accordance with 5 U.S.C. 605, the Board certifies that this rule 
will not have a significant economic impact on a substantial number of 
small entities because it applies only to internal personnel matters of 
the agency.

Administrative Procedure Act

    This rule is exempt from the rulemaking provisions of the 
Administrative Procedure Act, 5 U.S.C. 553, and the Congressional 
Review Act, pursuant to 5 U.S.C. 804(3)(B) and (C), because it is a 
rule relating to agency management or personnel and a rule of agency 
procedure that does not substantially affect the rights or obligations 
of non-agency parties.

List of Subjects in 12 CFR Part 261a

    Privacy.

Authority and Issuance

    For the reasons stated in the preamble, the Board amends 12 CFR 
part 261a as follows:

PART 12 CFR 261a--RULES REGARDING ACCESS TO PERSONAL INFORMATION 
UNDER THE PRIVACY ACT 1974

0
1. The authority citation of part 261a continues to read as follows:

    Authority: 5 U.S.C. 552a.


0
2. Amend Sec.  261a.12(b) by redesignating paragraph (b)(11) as (b)(12) 
and adding new paragraph (b)(11) to read as follows:


Sec.  261a.12  Exempt records.

* * * * *
    (b) * * *
    (11) BGFRS-43 Security Sharing Platform
* * * * *

    By order of the Board of Governors of Federal Reserve System.
Ann Misback,
Secretary of the Board.
[FR Doc. 2020-24088 Filed 11-18-20; 8:45 am]
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