[Federal Register Volume 86, Number 21 (Wednesday, February 3, 2021)]
[Notices]
[Pages 8014-8015]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02204]



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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, without 
revision, the Quarterly Report of Assets and Liabilities of Large 
Foreign Offices of U.S. Banks (FR 2502q; OMB No. 7100-0079).

DATES: Comments must be submitted on or before April 5, 2021.

ADDRESSES: You may submit comments, identified by FR 2502q, 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 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: Quarterly Report of Assets and Liabilities of Large 
Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Respondents: U.S. commercial banks, bank holding companies 
(including financial holding companies), and Edge Act and agreement 
corporations.
    Estimated number of respondents: 23.
    Estimated average hours per response: 1.
    Estimated annual burden hours: 92.
    General description of report: U.S. commercial banks, bank holding 
companies, and Edge Act and agreement corporations are required to file 
the FR 2502q reporting form, on a quarterly basis, for their large 
branches (those that have assets of $2 billion or more) and banking 
subsidiaries (those that have assets of $2 billion or more and deposits 
of $10 million or more) that are located in the United Kingdom or the 
Caribbean. The Board has an interest in knowing the amounts of the 
claims and liabilities of U.S.-chartered banks with respect to 
residents of individual countries.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information in FR 2502q from (1) bank holding companies 
pursuant to section 5 of the Bank Holding Company Act,\1\ which 
authorizes the Board to require a bank holding company and any 
subsidiary to submit reports; (2) Edge Act and agreement corporations 
pursuant to sections 25(4) and 25A(17) of the Federal Reserve Act 
(FRA),\2\ which authorize the Board to require Edge and agreement 
corporations to make reports to the Board; and (3) depository 
institutions pursuant to sections 11(a)(1) and (2) of the FRA,\3\ which 
authorize the Board to require reports from each member bank as it may 
deem necessary and to require reports of liabilities and assets from 
insured depository institutions to enable the Board to discharge its 
responsibility to monitor and control monetary and credit aggregates.
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    \1\ 12 U.S.C. 1844(c).
    \2\ 12 U.S.C. 602 and 12 U.S.C. 625.
    \3\ 12 U.S.C. 248(a)(1) and (2).
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    The FR 2502q report is mandatory. To the extent that the 
information from this

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collection obtained by the Board constitutes nonpublic commercial or 
financial information, which is both customarily and actually treated 
as private by the financial institution, the financial institution may 
request confidential treatment pursuant to exemption 4 of the Freedom 
of Information Act.\4\
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    \4\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, January 28, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-02204 Filed 2-2-21; 8:45 am]
BILLING CODE 6210-01-P