[Federal Register Volume 87, Number 147 (Tuesday, August 2, 2022)]
[Notices]
[Pages 47212-47213]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16476]


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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 Provisions Associated with the Guidance on Leveraged 
Lending (FR 4203; OMB No. 7100-0354).

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, [email protected], (202) 
452-3884.
    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

    Collection title: Recordkeeping Provisions Associated with Guidance 
on Leverage Lending.
    Collection identifier: FR 4203.
    OMB control number: 7100-0354.
    Frequency: On occasion.
    Respondents: The FR 4203 panel comprises all bank holding 
companies, savings and loan holding companies, state member banks, and 
state-chartered branches and agencies of foreign banks that engage in 
leveraged lending activities.
    Many community banks are not subject to the FR 4203 because they do 
not engage in leveraged lending. The limited number of community and 
smaller institutions that are involved in leveraged lending activities 
may discuss with the Federal Reserve System whether and, if so, how to 
implement these collections of information in a cost-effective manner 
that is appropriate for the complexity of their exposures and 
activities.
    Estimated number of respondents: 37.
    Estimated average hours per response: 755.
    Estimated annual burden hours: 27,935.
    General description of collection: The guidance on leveraged 
lending (Guidance) \1\ outlines high-level principles related to safe-
and-sound leveraged lending activities. The Guidance includes a number 
of voluntary recordkeeping provisions that apply to financial 
institutions that are

[[Page 47213]]

engaged in leveraged lending activities and for which the Board is the 
primary federal supervisor, including bank holding companies, savings 
and loan holding companies, state member banks, and state-chartered 
branches and agencies of foreign banks that engage in these activities.
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    \1\ ``Interagency Guidance on Leveraged Lending,'' March 21, 
2013, available at https://www.federalreserve.gov/supervisionreg/srletters/sr1303a1.pdf. The Guidance was published jointly by the 
Board, the Office of the Comptroller of the Currency, and the 
Federal Deposit Insurance Corporation.
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    Legal authorization and confidentiality: The recordkeeping 
provisions of the Guidance are authorized pursuant to sections 9(6), 
25, and 25A of the Federal Reserve Act \2\ (for state member banks, 
agreement corporations, and Edge corporations, respectively); section 
5(c) of the Bank Holding Company Act \3\ (for bank holding companies); 
sections 10(b)(2) and 10(b)(3) of the Home Owners' Loan Act \4\ 
(savings and loan holding companies); and section 7(c)(2) of the 
International Banking Act \5\ (state-licensed branches and agencies of 
foreign banks, other than insured branches). The recordkeeping 
provisions contained in the FR 4203 are voluntary.
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    \2\ 12 U.S.C. 324, 602, and 625, respectively.
    \3\ 12 U.S.C. 1844(c).
    \4\ 12 U.S.C. 1467a(b)(2) and (b)(3).
    \5\ 12 U.S.C. 3105(c)(2).
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    Because these records would be maintained at each banking 
organization, the Freedom of Information Act (FOIA) would only be 
implicated if the Board obtained such records as part of the 
examination or supervision of a banking organization. If the records 
were 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 FOIA, which protects 
information contained in ``examination, operating, or condition 
reports'' obtained in the bank supervisory process.\6\ In addition, to 
the extent that information contained in these records constitutes 
nonpublic commercial or financial information, which is both 
customarily and actually treated as private by a banking organization, 
it may be kept confidential under exemption 4 of the FOIA, which 
exempts ``trade secrets and commercial or financial information 
obtained from a person [that is] privileged or confidential.'' \7\
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    \6\ 5 U.S.C. 552(b)(8).
    \7\ 5 U.S.C. 552(b)(4).
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    Current actions: On April 6, 2022, the Board published a notice in 
the Federal Register (87 FR 19933) requesting public comment for 60 
days on the extension, without revision, of the FR 4203. The comment 
period for this notice expired on June 6, 2022. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, July 27, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-16476 Filed 8-1-22; 8:45 am]
BILLING CODE 6210-01-P