[Federal Register Volume 88, Number 40 (Wednesday, March 1, 2023)]
[Notices]
[Pages 12933-12934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04138]


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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 
Reporting, Recordkeeping, and Disclosure Requirements Associated with 
Regulation Q (FR Q; OMB No. 7100-0313).

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 (which contain more detailed 
information about the information collections and burden estimates than 
this notice), 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/reportingforms/home/review 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, With Revision, of the Following Information Collection

    Collection title: Reporting, Recordkeeping, and Disclosure 
Requirements Associated with Regulation Q.
    Collection identifier: FR Q.
    OMB control number: 7100-0313.
    Effective Date: The revisions are applicable as of March 1, 2023.
    General description of collection: The Board's Regulation Q--
Capital Adequacy of Bank Holding Companies, Savings and Loan Holding 
Companies, and State Member Banks (12 CFR part 217) sets forth the 
capital adequacy requirements for state member banks (SMBs), certain 
bank holding companies (BHCs), U.S. intermediate holding companies 
(IHCs), and certain covered savings and loan holding companies 
(SLHCs).\1\
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    \1\ The Board's capital rule generally does not apply to BHCs or 
covered SLHCs that meet the requirements of the Small Bank Holding 
Company and Savings and Loan Holding Company Policy Statement, 12 
CFR part 225, Appendix C. For the definition of ``Covered savings 
and loan holding company,'' see 12 CFR 217.2.
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    The reporting, recordkeeping, and disclosure requirements included 
in the FR Q information collection provide the Board and other 
stakeholders, including market participants, with information regarding 
the interaction between firms

[[Page 12934]]

and the regulatory capital framework. Specifically, the reporting and 
recordkeeping requirements allow the Board to verify that firms are 
appropriately implementing the capital framework; they also provide the 
Board with information necessary for monitoring firms participating in 
the advanced approaches framework. The disclosure requirements are 
intended to support market discipline by providing information 
regarding banking organizations' activities, overall risk profiles, and 
risk management policies. Together, these requirements help to ensure 
the safety and soundness of the financial system by facilitating the 
identification of problems at firms and ensuring that firms have 
implemented any corrective actions imposed by the Board, as well as by 
allowing stakeholders to make meaningful assessments of firms' 
financial position.
    Frequency: Annual, quarterly.
    Respondents: SMBs, certain BHCs, IHCs, and certain covered SLHCs.
    Total estimated number of respondents:

Minimum Capital Ratios

    Recordkeeping (Ongoing)--1,055.

Standardized Approach

    Reporting (Ongoing)--1.
    Recordkeeping (Initial Setup)--1.
    Recordkeeping (Ongoing)--1,055.
    Disclosure (Initial Setup)--1.
    Disclosure (Ongoing)--38.

Advanced Approach

    Reporting (Initial Setup)--1.
    Reporting (Ongoing)--21.
    Recordkeeping (Initial Setup)--1.
    Recordkeeping (Ongoing)--21.
    Recordkeeping (Ongoing quarterly)--21.
    Disclosure (Initial setup)--1.
    Disclosure (Ongoing)--21.
    Disclosure (Ongoing quarterly)--21.
    Disclosure (Ongoing quarterly Table 13)--27.
    Estimated average hours per response:

Minimum Capital Ratios

    Recordkeeping (Ongoing)--16.

Standardized Approach

    Reporting (Ongoing)--1.
    Recordkeeping (Initial Setup)--122.
    Recordkeeping (Ongoing)--20.
    Disclosure (Initial Setup)--226.25.
    Disclosure (Ongoing)--131.25.

Advanced Approach

    Reporting (Initial Setup)--161.
    Reporting (Ongoing)--111.77.
    Recordkeeping (Initial Setup)--299.
    Recordkeeping (Ongoing)--429.
    Recordkeeping (Ongoing quarterly)--20.
    Disclosure (Initial setup)--328.
    Disclosure (Ongoing)--5.78.
    Disclosure (Ongoing quarterly)--41.5.
    Disclosure (Ongoing quarterly Table 13)--5.
    Total estimated change in burden: 34 hours.
    Total estimated annual burden hours: 76,250.\2\
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    \2\ More detailed information regarding this collection, 
including more detailed burden estimates, can be found in the OMB 
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you 
can find the OMB Supporting Statement by referencing the collection 
identifier, FR Q.
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    Current actions: On November 4, 2022, the Board published a notice 
in the Federal Register (87 FR 66701) requesting public comment for 60 
days on the extension, with revision, of the FR Q. The Board proposed 
to revise the FR Q information collection to account for a reporting 
provision in section 217.37(c)(4)(i)(E) of Regulation Q and a 
disclosure provision in section 217.124(a) of Regulation Q, which have 
not been previously cleared by the Board under the PRA. The comment 
period for this notice expired on January 3, 2023. The Board did not 
receive any comments. The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, February 23, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-04138 Filed 2-28-23; 8:45 am]
BILLING CODE 6210-01-P