[Federal Register Volume 86, Number 100 (Wednesday, May 26, 2021)]
[Notices]
[Pages 28343-28344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11153]


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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 
Recordkeeping Requirements Associated with Limitations on Interbank 
Liabilities (FR F; OMB No. 7100-0331).

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.

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. The OMB 
inventory, as well as copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also 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.
    Final Approval under OMB Delegated Authority of the Extension for 
Three Years, Without Revision, of the Following Information Collection:
    Report title: Recordkeeping Requirements Associated with 
Limitations on Interbank Liabilities.
    Agency form number: FR F.
    OMB control number: 7100-0331.
    Frequency: On occasion.
    Respondents: Depository institutions insured by the Federal Deposit 
Insurance Corporation (FDIC).
    Estimated number of respondents: Creation: 7; maintenance: 5,059.
    Estimated average hours per response: Creation: 7; maintenance: 1.
    Estimated annual burden hours: Creation: 49; maintenance: 5,059.
    General description of report: The Board's Regulation F--
Limitations on Interbank Liabilities--establishes limits on depository 
institutions' credit exposure to individual correspondents in order to 
mitigate the risk that the failure of a correspondent would pose to an 
insured depository institution.\1\ Section 206.3 of Regulation F (12 
CFR 206.3) requires insured depository institutions to establish and 
maintain policies and procedures designed to prevent excessive exposure 
to correspondents. This regulation applies to all depository 
institutions insured by the FDIC.
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    \1\ Correspondent means a U.S. depository institution or a 
foreign bank to which a bank has exposure but does not include a 
commonly controlled correspondent. 12 CFR 206.2(c).
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    Legal authorization and confidentiality: The Regulation F 
recordkeeping requirements are authorized by section 23 of the Federal 
Reserve Act, as added by section 308 of the Federal Deposit Insurance 
Corporation Improvement Act of 1991,\2\ which requires the Board to 
prescribe standards to limit risks posed by exposure of insured 
depository institutions to other depository institutions. The 
Regulation F recordkeeping requirements are mandatory.
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    \2\ 12 U.S.C. 371b-2.
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    The Board does not collect any information under Regulation F, so 
no issue of confidentiality normally arises. However, 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 Freedom of 
Information Act (FOIA), which protects information contained in 
``examination, operating, or condition reports'' obtained in the bank 
supervisory process.\3\ Additionally, to the extent that such 
information obtained by the Board constitutes nonpublic commercial or 
financial information, which is both customarily

[[Page 28344]]

and actually treated as private by the financial institution, the 
financial institution may request confidential treatment pursuant to 
exemption 4 of the FOIA.\4\
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    \3\ 5 U.S.C. 552(b)(8).
    \4\ 5 U.S.C. 552(b)(4).
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    Current actions: On February 2, 2021, the Board published an 
initial notice in the Federal Register (86 FR 8010) requesting public 
comment for 60 days on the extension, without revision, of the FR F. 
The comment period for this notice expired on April 5, 2021. The Board 
did not receive any comments. The Board will adopt the extension, 
without revision, of the FR F as originally proposed.

    Board of Governors of the Federal Reserve System, May 21, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-11153 Filed 5-25-21; 8:45 am]
BILLING CODE 6210-01-P