[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 54974-54975]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21597]


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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 
Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322).

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 for the Federal 
Reserve Board, 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 Paperwork Reduction Act (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: The Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100-0322.
    Frequency: On occasion.
    Respondents: May include bank holding companies, state member 
banks, savings and loan holding companies, intermediate holding 
companies, U.S. branches and agencies of foreign banking organizations 
(FBOs), Edge Act and agreement corporations, nonbank financial 
companies that the Financial Stability Oversight Council has determined 
should be supervised by the Board, and the combined domestic operations 
of FBOs.
    Estimated number of respondents: 5,000.
    Estimated average hours per response: 0.5.
    Estimated annual burden hours: 60,000.
    General description of report: The FR 3052 collects information 
from financial institutions specifically tailored to the Federal 
Reserve's supervisory, regulatory, and operational responsibilities. 
The Board utilizes the survey process, as needed, to collect 
information on specific issues that affect its decision making. The 
principal value of the FR 3052 is the flexibility it provides the 
Federal Reserve to respond quickly to the need for data due to 
unanticipated economic, financial, supervisory, or regulatory 
developments. The Board cannot predict what specific information will 
be needed, but such needs are generally very time-sensitive. Because 
the relevant questions may change with each survey, there is no fixed 
reporting form. Past surveys have collected information related to 
energy lending exposure, cloud-based data exchange services, regulatory 
capital, Comprehensive Capital Analysis and Review, operational risk 
loss event history, transactions by government securities dealers, and 
small debit card issuers.
    Written qualitative questions or questionnaires may include 
categorical questions, yes-no questions, ordinal questions, and open-
ended questions. Written quantitative surveys may include dollar 
amounts, percentages, numbers of items, interest rates, and other such 
information. Institutions might also be asked to provide copies of 
existing documents (for example, pertaining to practices and 
performances for a particular business activity). Before conducting a 
survey, the Board reviews any information to be collected to determine 
if the information is available by other means.
    Legal authorization and confidentiality: The FR 3052 is authorized 
by a number of statutes authorizing the Board to require reports of 
condition from institutions subject to its supervision. These include 
section 9 of the Federal Reserve Act (FRA),\1\ section 5 of the Bank 
Holding Company Act,\2\ section 10 of the Home Owners' Loan Act,\3\ 
section 7 of the International Banking Act (IBA),\4\ section 8 of the 
IBA,\5\ sections 25 and 25A of the FRA,\6\ and section 161 of the Dodd-
Frank Wall Street Reform and Consumer Protection Act.\7\ Survey 
submissions under the FR 3052 are voluntary.
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    \1\ 12 U.S.C. 324 (requiring state member banks to make reports 
of condition ``in such form and [containing] such information as the 
Board of Governors of the Federal Reserve System may require'').
    \2\ 12 U.S.C. 1844(c)(1)(A) (authorizing the Board to require a 
bank holding company and any subsidiary thereof to submit reports 
regarding financial condition and compliance).
    \3\ 12 U.S.C. 1467a(b)(2) (authorizing the Board to require a 
savings and loan holding company and any subsidiary thereof to 
submit reports containing such information concerning the operation 
of the company or its subsidiaries as the Board may require).
    \4\ 12 U.S.C. 3105(c)(2) (subjecting each branch or agency of a 
foreign bank to the provisions of 12 U.S.C. 324 requiring reports of 
financial condition as if it were a state member bank).
    \5\ 12 U.S.C. 3106(a) (generally subjecting foreign banking 
organizations to the Bank Holding Company Act).
    \6\ 12 U.S.C. 602 and 625 (requiring Edge and agreement 
corporations to ``make reports to the Board of Governors of the 
Federal Reserve System at such times and in such form as it may 
require'').
    \7\ 12 U.S.C. 5361 (authorizing the Board to require reports of 
financial condition and compliance from nonbank financial companies 
subject to the Board's supervision).
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    The questions asked on each survey will vary. The Board's ability 
to keep confidential responses to the FR 3052 must therefore be 
determined on a case-by-case basis. Much of the information collected 
is likely to constitute nonpublic commercial or financial information, 
which is both customarily and actually treated as private by the 
respondent, and may be kept confidential by the Board pursuant to 
exemption 4 of the Freedom of Information Act (FOIA).\8\ Some survey 
responses may also contain information contained in or related to an 
examination of a financial institution, which may be kept confidential 
under exemption 8 of the FOIA.\9\ Responses to the FR 3052 are 
tabulated and summarized at the Board. This aggregate information is 
not considered confidential, and aggregate survey information may be 
cited in published material such as Board studies or working papers, 
professional journals, the Federal Reserve Bulletin, testimony and 
reports to the Congress, or other vehicles.
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    \8\ 5 U.S.C. 552(b)(4).
    \9\ 5 U.S.C. 552(b)(8).

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[[Page 54975]]

    Current actions: On May 26, 2021, the Board published a notice in 
the Federal Register (86 FR 28344) requesting public comment for 60 
days on the extension, without revision, of the Supervisory and 
Regulatory Survey (FR 3052). The comment period for this notice expired 
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on July 26, 2021. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, September 29, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-21597 Filed 10-4-21; 8:45 am]
BILLING CODE 6210-01-P