[Federal Register Volume 87, Number 66 (Wednesday, April 6, 2022)]
[Notices]
[Pages 19929-19930]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-07230]


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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 
Reporting Provisions Associated with Regulation TT (FR TT; OMB No. 
7100-0369).

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

[[Page 19930]]

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: 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).
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    Current actions: On December 10, 2021, the Board published a notice 
in the Federal Register (86 FR 70498) requesting public comment for 60 
days on the extension, without revision, of the FR TT. The comment 
period for this notice expired on February 8, 2022. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, April 1, 2022.
Ann Misback,
Secretary of the Board.
[FR Doc. 2022-07230 Filed 4-5-22; 8:45 am]
BILLING CODE 6210-01-P