[Federal Register Volume 88, Number 231 (Monday, December 4, 2023)]
[Notices]
[Pages 84141-84142]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-26572]


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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, with revision, 
the Market Risk Capital Rule (FR 4201; OMB No. 7100-0314).

DATES: Comments must be submitted on or before February 2, 2024.

ADDRESSES: You may submit comments, identified by FR 4201, 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, except for Federal holidays. For security 
reasons, the

[[Page 84142]]

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, [email protected], (202) 
452-3884.

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 (which contains more detail about 
the information collection and burden estimates than this notice), and 
other documentation, will be made available on the 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 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, With 
Revision, the Following Information Collection

    Collection title: Market Risk Capital Rule.
    Collection identifier: FR 4201.
    OMB control number: 7100-0314.
    General description of collection: The market risk rule, which 
requires banking organizations to hold capital to cover their exposure 
to market risk, is a component of the Board's regulatory capital 
framework, Regulation Q--Capital Adequacy of Bank Holding Companies, 
Savings and Loan Holding Companies, and State Member Banks (12 CFR part 
217). The rule includes information collections that permit the Board 
to monitor the market risk profile of Board-regulated banking 
organizations that have significant market risk. These information 
collections provide current statistical data identifying market risk 
areas on which to focus onsite and offsite examinations. They also 
allow the Board to assess the levels and components of each reporting 
institution's risk-based capital requirements for market risk and the 
adequacy of the institution's capital under the market risk rule.
    Proposed revisions: The Board proposes to revise the FR 4201 
information collection to account for a recordkeeping requirement in 
section 217.203(b)(2) of Regulation Q that had not been previously 
cleared by the Board. Section 217.203(b)(2) requires subject banking 
organizations to have a process for prudent valuation of their covered 
positions that includes policies and procedures on the valuation of 
positions, marking positions to market or to model, independent price 
verification, and valuation adjustments or reserves. The valuation 
process must consider, as appropriate, unearned credit spreads, close-
out costs, early termination costs, investing and funding costs, 
liquidity, and model risk.
    Frequency: Annual, quarterly, and on occasion.
    Respondents: Bank holding companies, covered savings and loan 
holding companies,\1\ U.S. intermediate holding companies of foreign 
banking organizations, and state member banks (collectively, banking 
organizations) that meet certain risk thresholds. The market risk rule 
applies to any such banking organization with aggregate trading assets 
and trading liabilities equal to (1) 10 percent or more of quarter-end 
total assets or (2) $1 billion or more.
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    \1\ For the definition of ``covered savings and loan holding 
company,'' see 12 CFR 217.2.
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    Total estimated number of respondents: 37.
    Total estimated change in burden: 592.
    Total estimated annual burden hours: 36,236.\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 4201.

    Board of Governors of the Federal Reserve System, November 29, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-26572 Filed 12-1-23; 8:45 am]
BILLING CODE 6210-01-P