[Federal Register Volume 87, Number 142 (Tuesday, July 26, 2022)]
[Notices]
[Pages 44392-44393]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-15901]


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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 Reporting and Disclosure Requirements of Community 
Reinvestment Act (CRA)-Related Agreements (Regulation G) (FR G; OMB No. 
7100-0299).

DATES: Comments must be submitted on or before September 26, 2022.

ADDRESSES: You may submit comments, identified by FR G, 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: Federal Reserve Board of Governors, Attn: Ann E. 
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St. 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 
M-4365A, 2001 C St. NW, Washington, DC 20551, 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 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

    Collection title: Reporting and Disclosure Requirements of 
Community Reinvestment Act (CRA)-Related Agreements.
    Collection identifier: FR G.
    OMB control number: 7100-0299.
    Frequency: Annually and quarterly.
    Respondents: State member banks and their subsidiaries; bank 
holding companies; savings and loan holding companies; affiliates of 
bank holding companies and savings and loan holding companies, other 
than banks, savings associations, and subsidiaries of banks and savings 
associations; and nongovernmental entities or persons (NGEPs) that 
enter into covered agreements with any of the aforementioned entities.
    Estimated number of respondents: Reporting: insured depository 
institutions (IDIs) and affiliates--Copy of agreements to agency, 1; 
List of agreements to agency, 1; Annual report, 1; Filing NGEP annual 
report, 1; Reporting: NGEP--Copy of agreements to agency, 2, Annual 
report, 2; Disclosure: IDI and affiliates--Covered agreements to 
public, 1, Agreements relating to activities of CRA affiliates, 1; and 
Disclosure: NGEP Covered agreements to public, 2.
    Estimated average hours per response: Reporting: IDI and 
affiliates--Copy of agreements to agency, 1; List of

[[Page 44393]]

agreements to agency, 1; Annual report, 4; Filing NGEP annual report, 
1; Reporting: NGEP--Copy of agreements to agency, 1, Annual report, 4; 
Disclosure: IDI and affiliates--Covered agreements to public, 1, 
Agreements relating to activities of CRA affiliates, 1; and Disclosure: 
NGEP Covered agreements to public, 1.
    Estimated annual burden hours: Reporting: IDI and affiliates--Copy 
of agreements to agency, 2; List of agreements to agency, 2; Annual 
report, 4; Filing NGEP annual report, 1; Reporting: NGEP--Copy of 
agreements to agency, 2, Annual report, 8; Disclosure: IDI and 
affiliates--Covered agreements to public, 2, Agreements relating to 
activities of CRA affiliates, 2; and Disclosure: NGEP Covered 
agreements to public, 2.
    General description of report: Regulation G--Disclosure and 
Reporting of CRA-Related Agreements \1\ implements section 711 of the 
Gramm-Leach-Bliley Act (GLBA),\2\ which requires IDIs, affiliates of 
IDIs, and NGEPs to disclose written agreements entered into in 
connection with fulfillment of the CRA.\3\
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    \1\ 12 CFR part 207.
    \2\ Codified at 12 U.S.C. 1831y.
    \3\ 12 U.S.C. 2901 et seq.
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    Legal authorization and confidentiality: The disclosure and 
reporting requirements of Regulation G are authorized pursuant to the 
Board's authority to prescribe regulations to carry out the purposes of 
section 711 of GLBA.\4\ The FR G disclosure and reporting requirements 
are mandatory.
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    \4\ 12 U.S.C. 1831y(h)(1).
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    The disclosure and reporting requirements of section 711 and 
Regulation G require relevant parties to disclose covered agreements to 
the public.\5\ However, as explained in the preamble to Regulation G, 
an entity subject to Regulation G may submit separate public and 
complete versions of its covered agreements to the Board with a request 
for confidential treatment for the complete version.\6\ As stated in 
the preamble, the Board would release only the public version unless it 
received a request under the Freedom of Information Act (FOIA) for the 
entirety of the CRA-related agreement.\7\
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    \5\ The Board noted in the preamble to Regulation G that section 
711 would require disclosure of some types of information that an 
agency might normally withhold from disclosure under the FOIA and 
that the Board would not keep information confidential under the 
FOIA that a party would be required to disclose under section 711. 
Disclosure and Reporting of CRA-Related Agreements, 66 FR 2052, 
2066-2067 (Jan. 10, 2001).
    \6\ Id.
    \7\ Id.
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    Regulation G states that in responding to a request for a covered 
agreement from an individual or entity under the public disclosure 
provisions of section 711, an NGEP, insured depository institution, or 
affiliate may withhold from the public information that the party 
believes the relevant supervisory agency could withhold from disclosure 
under the FOIA.\8\ Information contained in covered agreements may be 
exempt from disclosure under exemption 4 of the FOIA, which protects 
public commercial or financial information, which is both customarily 
and actually treated as private by the respondent.\9\ Information 
contained in covered agreements may also be exempt from disclosure 
under exemption 6 of the FOIA, which protects personnel and medical 
files the disclosure of which would constitute a clearly unwarranted 
invasion of personal privacy, \10\ and under exemption 8 of the FOIA, 
which protects information contained in ``examination, operating, or 
condition reports'' obtained in the bank supervisory process.\11\
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    \8\ 12 CFR 207.6(b)(2).
    \9\ 5 U.S.C. 552(b)(4).
    \10\ 5 U.S.C. 552(b)(6).
    \11\ 5 U.S.C. 552(b)(8).

    Board of Governors of the Federal Reserve System, July 20, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-15901 Filed 7-25-22; 8:45 am]
BILLING CODE 6210-01-P