[Federal Register Volume 86, Number 235 (Friday, December 10, 2021)]
[Notices]
[Pages 70498-70499]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-26739]


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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, without revision, the 
Reporting Provisions Associated with Regulation TT (FR TT; OMB No. 
7100-0369).

DATES: Comments must be submitted on or before February 8, 2022.

ADDRESSES: You may submit comments, identified by FR TT, 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 or FR 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 confidential 
business information, identifying information, 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 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.

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 Paperwork Reduction Act (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

[[Page 70499]]

comments received from the public and other agencies.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will 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. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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 Provisions Associated with Regulation TT.
    Agency form number: FR TT.
    OMB control number: 7100-0369.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs) and savings and loan 
holding companies (SLHCs) and all nonbank financial companies 
designated for Board supervision by the Financial Stability Oversight 
Council (FSOC).
    Estimated number of respondents: 3.
    Estimated average hours per response: 40.
    Estimated annual burden hours: 120.
    General description of report: The Board's Regulation TT--
Supervision and Regulation Assessments of Fees (12 CFR part 246) 
implements the second section 11(s) of the Federal Reserve Act 
(FRA),\1\ which directs the Board to collect assessments, fees, or 
other charges (collectively, assessments) from BHCs and SLHCs that meet 
a size threshold and from all nonbank financial companies designated 
for Board supervision by the FSOC (collectively, assessed companies) in 
an amount equal to the total expenses the Board estimates are necessary 
or appropriate to carry out its supervisory and regulatory 
responsibilities with respect to such companies. Pursuant to Regulation 
TT, the Board issues an annual notice of assessment to each assessed 
company. Assessed companies may file a written appeal with the Board 
regarding the assessment.\2\
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    \1\ 12 U.S.C. 248(s). The second section 11(s) of the Federal 
Reserve Act was added by section 318 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act. There are two subsections of 
section 11 of the Federal Reserve Act designated as (s). The 
provision relating to assessments is described as the ``second'' 
subsection (s) as it was enacted later in time.
    \2\ 12 CFR 246.5(b).
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    Legal authorization and confidentiality: The FR TT is authorized 
pursuant to the second section 11(s) of the FRA, which requires the 
Board to collect the assessments, as described above, and section 11(i) 
of the FRA,\3\ which provides that the Board shall make all rules and 
regulations necessary to enable the Board to effectively perform the 
duties, functions, or services specified in the FRA. The FR TT 
reporting provisions are required to obtain a benefit.
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    \3\ 12 U.S.C. 248(i).
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    An assessed company may request confidential treatment of 
information contained in its appeal pursuant to exemption 4 of the 
Freedom of Information Act (FOIA), which protects nonpublic commercial 
or financial information, which is both customarily and actually 
treated as private by the respondent.\4\ Determinations of 
confidentiality based on FOIA exemption 4 would be made on a case-by-
case basis.
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    \4\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, December 6, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-26739 Filed 12-9-21; 8:45 am]
BILLING CODE 6210-01-P