[Federal Register Volume 85, Number 239 (Friday, December 11, 2020)]
[Notices]
[Pages 80097-80098]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27341]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors, 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 extend for three years, without revision, 
the Reporting, Recordkeeping, and Disclosure Requirements Associated 
with Regulation BB (FR BB; OMB No. 7100-0197).

DATES: Comments must be submitted on or before February 9, 2021.

ADDRESSES: You may submit comments, identified by FR BB, by any of the 
following methods:
     Agency Website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the 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 from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, 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: 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 
collections of information 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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, if approved. These

[[Page 80098]]

documents will also be made available on the 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.

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: Reporting, Recordkeeping, and Disclosure Requirements 
Associated with Regulation BB.
    Agency form number: FR BB.
    OMB control number: 7100-0197.
    Frequency: Annually.
    Respondents: State Member Banks (SMBs), with the exception of 
special purpose banks that do not perform commercial or retail banking 
services by granting credit to the public in the ordinary course of 
business, other than as incident to their specialized operations. These 
banks include bankers' banks and banks that engage only in one or more 
of the following activities: Providing cash management controlled 
disbursement services or serving as correspondent banks, trust 
companies, or clearing agents.
    Estimated number of respondents: Assessment area delineation, 117; 
Loan data: Small business and small farm, 113; Loan data: Community 
development, 98; Loan data: Home Mortgage Disclosure Act (HMDA) out of 
Metropolitan Statistical Areas (MSA), 117; Request for designation as a 
wholesale or a limited purpose bank, 1; Request for strategic plan 
approval, 2; Affiliate lending data, 5; Data on lending by a consortium 
or a third party, 12; Small business and small farm loan register, 113; 
Consumer loan data, 28; Other loan data, 20; and Public file and public 
notice, 778.
    Estimated average hours per response: Assessment area delineation, 
2; Loan data: Small business and small farm, 8; Loan data: Community 
development, 13; Loan data: HMDA out of MSA, 253; Request for 
designation as a wholesale or a limited purpose bank, 4; Request for 
strategic plan approval, 275; Affiliate lending data, 38; Data on 
lending by a consortium or a third party, 17; Small business and small 
farm loan register, 219; Consumer loan data, 326; Other loan data, 25; 
and Public file and public notice, 10.
    Estimated annual burden hours: Assessment area delineation, 234; 
Loan data: Small business and small farm, 904; Loan data: Community 
development, 1,274; Loan data: HMDA out of MSA, 29,601; Request for 
designation as a wholesale or a limited purpose bank, 4; Request for 
strategic plan approval, 550; Affiliate lending data, 190; Data on 
lending by a consortium or a third party, 204; Small business and small 
farm loan register, 24,747; Consumer loan data, 9,128; Other loan data, 
500; and Public file and public notice, 7,780.
    General description of report: The Community Reinvestment Act (CRA) 
directs the Board, the Federal Deposit Insurance Corporation, and the 
Office of the Comptroller of the Currency (collectively, the agencies) 
to evaluate financial institutions' (banks and savings associations) 
records of helping to meet the credit needs of their entire 
communities, including low- and moderate-income areas, consistent with 
the safe and sound operation of the institutions. The CRA is 
implemented through regulations issued by the agencies. The Board's 
regulation applies to SMBs.
    Legal authorization and confidentiality: The FR BB is authorized by 
section 806 of the CRA, which permits the Board to issue 
``[r]egulations to carry out the purposes of [the CRA]''; section 11 of 
the Federal Reserve Act, which permits the Board to ``require such 
statements and reports as it deems necessary'' of state member banks; 
and section 9 of the Federal Reserve Act, which permits the Board to 
examine state member banks.
    Most of the recordkeeping, reporting, and disclosure requirements 
of Regulation BB are mandatory. However, there are several limited 
parts of the collection that are required to obtain a benefit: 
Specifically, the request for designation as a wholesale or limited 
purpose bank, the strategic plan, and the recordkeeping and reporting 
requirements associated with data regarding consumer loans and lending 
performance, affiliate lending data, and data on lending by a 
consortium or a third party.
    Most of the information collected under Regulation BB is not 
considered confidential. However, if a respondent elects to submit a 
strategic plan pursuant to 12 CFR 228.27, the respondent may submit 
additional information to the Board relating to the strategic plan on a 
confidential basis, so long as the goals in the plan are sufficiently 
specific to enable the public and the Board to judge the merits of the 
plan. The Board will determine whether the additional information is 
entitled to confidential treatment on a case-by-case basis.
    To the extent a respondent submits information contained in or 
related to examination, operating, or condition reports prepared by, or 
on behalf of, or for the use of an agency responsible for the 
regulation or supervision of financial institutions, the respondent may 
request confidential treatment pursuant to exemption 8 of the Freedom 
of Information Act (FOIA). To the extent a respondent submits nonpublic 
commercial or financial information which is both customarily and 
actually treated as private by the respondent, the respondent may 
request confidential treatment pursuant to exemption 4 of the FOIA.

    Board of Governors of the Federal Reserve System, December 7, 
2020.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2020-27341 Filed 12-10-20; 8:45 am]
BILLING CODE 6210-01-P