[Federal Register Volume 89, Number 13 (Friday, January 19, 2024)]
[Notices]
[Pages 3708-3711]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00970]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); and Federal 
Deposit Insurance Corporation (FDIC).

ACTION: Joint notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the OCC, the Board, and the FDIC (collectively, the 
``agencies'') may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection unless it displays a 
currently valid Office of Management and Budget (OMB) control number. 
The Federal Financial Institutions Examination Council (FFIEC), of 
which the agencies are members, has approved the agencies' publication 
for public comment of a proposal to revise and extend for three years, 
the Foreign Branch Report of Condition (FFIEC 030) and the Abbreviated 
Foreign Branch Report of Condition (FFIEC 030S), which are currently 
approved collections of information. The agencies are requesting 
comment on proposed revisions to the FFIEC 030 report that would 
incorporate new line items from the FR 2502q, Quarterly Report of 
Assets and Liabilities of Large Foreign Offices of U.S. Banks (OMB 
Control No. 7100-0079). The revisions are proposed to take effect as of 
the June 30, 2024, report date. There are no proposed revisions to the 
FFIEC 030S at this time.

DATES: Comments must be submitted on or before March 19, 2024.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the 
``FFIEC 030 or FFIEC 030S,'' will be shared among the agencies.
    OCC: You may submit comments, which should refer to ``FFIEC 030 or 
FFIEC 030S,'' by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0099, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 293-4835.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0099'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on 
``Information Collection Review'' from the drop-down menu. From the 
``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching OMB control number ``1557-0099'' or ``FFIEC 030 
or FFIEC 030S.'' Upon finding the appropriate information collection, 
click on the related ``ICR Reference Number.'' On the next screen, 
select ``View Supporting Statement and Other Documents'' and then click 
on the link to any comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
    Board: You may submit comments, which should refer to ``FFIEC 030 
or FFIEC 030S,'' by any of the following methods:
     Agency Website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at: http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Email: [email protected]. Include ``FFIEC 
030 or FFIEC 030S'' in the subject line of the message.

[[Page 3709]]

     Fax: (202) 395-6974.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available on the Board's Website at https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information.
    FDIC: You may submit comments, which should refer to ``FFIEC 030 or 
FFIEC 030S,'' by any of the following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/. Follow the instructions for 
submitting comments on the FDIC's website.
     Email: [email protected]. Include ``FFIEC 030 or FFIEC 
030S'' in the subject line of the message.
     Mail: Manuel E. Cabeza, Counsel, Attn: Comments, Room MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW, 
Washington, DC 20429.
     Hand Delivery: Comments may be hand delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street) on business days between 7:00 a.m. and 5:00 p.m.
     Public Inspection: All comments received will be posted 
without change to https://www.fdic.gov/resources/regulations/federal-register-publications/ including any personal information provided. 
Paper copies of public comments may be requested from the FDIC Public 
Information Center by telephone at (877) 275-3342 or (703) 562-2200.
    Additionally, commenters may send a copy of their comments to the 
OMB desk officer for the agencies by mail to the Office of Information 
and Regulatory Affairs, U.S. Office of Management and Budget, New 
Executive Office Building, Room 10235, 725 17th Street NW, Washington, 
DC 20503; by fax to (202) 395-6974; or by email to 
[email protected].

FOR FURTHER INFORMATION CONTACT: For further information about the 
proposed revisions to the information collections discussed in this 
notice, please contact any of the agency staff whose names appear 
below. In addition, copies of the report forms for the FFIEC 030 and 
FFIEC 030S can be obtained at the FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm).
    OCC: Kevin Korzeniewski, Counsel, (202) 649-5490, Chief Counsel's 
Office, Office of the Comptroller of the Currency. If you are deaf, 
hard of hearing, or have a speech disability, please dial 7-1-1 to 
access telecommunications relay services.
    Board: Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, 
(202) 452-3884, Office of the Chief Data Officer, Board of Governors of 
the Federal Reserve System, 20th and C Streets NW, Washington, DC 
20551. Telecommunications Device for the Deaf (TDD) users may call 
(202) 263-4869.
    FDIC: Manuel E. Cabeza, Counsel, (202) 898-3767, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION: The agencies propose to extend for three 
years, with revision, the FFIEC 030 and the FFIEC 030S.
    Report Title: Foreign Branch Report of Condition.
    Form Number: FFIEC 030 and FFIEC 030S.
    Frequency of Response: Annually, and quarterly for significant 
branches.
    Affected Public: Business of other for profit.

OCC

    OMB Control Number: 1557-0099.
    Estimated Number of Respondents: 58 quarterly respondents (FFIEC 
030); 45 annual respondents (FFIEC 030); 9 annual respondents (FFIEC 
030S).
    Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030 
Quarterly); 2.98 burden hours (FFIEC 030 Annual) 0.95 burden hours 
(FFIEC 030S).
    Estimated Total Annual Burden: 1,049.77 burden hours.

Board

    OMB Control Number: 7100-0071.
    Estimated Number of Respondents: 21 quarterly respondents (FFIEC 
030); 12 annual respondents (FFIEC 030); 10 annual respondents (FFIEC 
030S).
    Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030 
Quarterly); 2.98 burden hours (FFIEC 030 Annual); 0.95 burden hours 
(FFIEC 030S).
    Estimated Total Annual Burden: 373.70 burden hours.

FDIC

    OMB Control Number: 3064-0011 (FDIC).
    Estimated Number of Respondents: 0 quarterly respondents (FFIEC 
030); 3 annual respondents (FFIEC 030); 3 annual respondents (FFIEC 
030S).
    Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030 
Quarterly); 2.98 burden hours (FFIEC 030 Annual); 0.95 burden hours 
(FFIEC 030S).
    Estimated Total Annual Burden: 11.79 burden hours.

I. Legal Basis and Need for Collection

    This information collection is mandatory: 12 U.S.C. 602 (Board); 12 
U.S.C. 161 and 602 (OCC); and 12 U.S.C. 1828 (FDIC). This information 
collection is given confidential treatment under 5 U.S.C. 552(b)(4) and 
(8).
    The FFIEC 030 collects asset and liability information for foreign 
branches of insured U.S. banks and insured U.S. savings associations 
(U.S. depository institutions) and is required for regulatory and 
supervisory purposes. The information is used to analyze the foreign 
operations of U.S. institutions. All foreign branches of U.S. 
institutions regardless of charter type file this report as provided in 
the instructions to the FFIEC 030 and FFIEC 030S.
    A U.S. depository institution generally must file a separate report 
for each foreign branch, but in some cases may consolidate filing for 
multiple foreign branches in the same country, as described below.
    A branch with either total assets of at least $2 billion or 
commitments to purchase foreign currencies and U.S. dollar exchange of 
at least $5 billion as of the end of a calendar quarter is considered a 
``significant branch'' and an FFIEC 030 report is required to be filed 
quarterly. A U.S. depository institution with a foreign branch having 
total assets in excess of $250 million that does not meet either of the 
criteria to file quarterly must file the entire FFIEC 030 report for 
this foreign branch on an annual basis as of December 31, with respect 
to this foreign branch.
    A U.S. depository institution with a foreign branch having total 
assets of $50 million, but less than or equal to $250 million that does 
not meet the criteria to file the FFIEC 030 report must file the FFIEC 
030S report for this foreign branch on an annual basis as of December 
31, with respect to this foreign branch. A U.S. depository institution 
with a foreign branch having total assets of less than $50 million is 
exempt from filing the FFIEC 030 and 030S reports.

II. Current Actions

    The FR 2502q collects data on the claims and liabilities with U.S.-
resident versus foreign-resident counterparties on the balance sheets 
of major foreign branches and large banking subsidiaries of U.S. head 
offices of bank holding companies, commercial banks and Edge and 
agreement corporations.\1\ For the

[[Page 3710]]

reporting purposes of the FR 2502q, large foreign branches are 
currently defined as those that file the Foreign Branch Report of 
Condition (FFIEC 030; OMB No. 7100-0071) with total assets, Schedule 
BS, item 11, of $2 billion or more. Large banking subsidiaries are 
defined as those that file the Financial Statements of Foreign 
Subsidiaries of U.S. Banking Organizations (FR 2314; OMB No. 7100-0073) 
quarterly, have a banking charter, and have assets of $2 billion or 
more and deposits of $10 million or more, Schedule BS, item 10, and 
Schedule BS-M, item 6, respectively.
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    \1\ Prior to 2015, the FR 2502q collected a full geographic 
distribution of claims and liabilities from these respondents. 
However, data on individual foreign counterparty countries became 
redundant with the expansion of other international data 
collections.
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    The Division of International Finance at the Board has an interest 
in knowing the amounts of the claims and liabilities of U.S.-chartered 
banks with respect to residents of the U.S. The FR 2502q provides data 
about activities in foreign offices by location and type of offices 
that are unavailable from other reporting forms. For example, because 
banks' submissions that underlie the quarterly Federal Financial 
Institutions Examination Council (FFIEC) Country Exposure Report (FFIEC 
009; OMB No. 7100-0035) are consolidated on a worldwide basis, they do 
not indicate which particular offices are involved in lending to or 
borrowing from U.S. or foreign residents.
    Following a 2015 revision that substantially reduced the size of 
the FR 2502q report, the Board has assessed its use of the data 
collected in the FR 2502q and has determined that the data could 
instead be effectively collected through the FR 2314 and FFIEC 030, and 
that doing so would reduce overall respondent burden.
    In addition, standardizing the collection of foreign branch lending 
data through the FFIEC reporting process will improve useability by the 
OCC and FDIC. The current 2502q collection is managed and run solely by 
the Board. The proposed shift of certain items to the FFIEC 030 will 
make it easier for the OCC and FDIC to use the data reported in those 
items, as well as providing those agencies with a more direct role in 
proposing changes to the data items to improve the usefulness of the 
collection for all three agencies.
    Therefore, the agencies propose to add a new schedule to the FFIEC 
030 to collect the information currently collected by the FR 2502q and 
add additional line items to collect granular detail related to loans 
and lease receivables. The title of the new schedule would be: 
``Schedule RAL-A--Due From, Due To, and Other.'' In addition, the 
agencies are adding a schedule name to the current Assets; Liabilities; 
Derivatives and Off-Balance-Sheet Items; and Memoranda section of the 
report form. The title of this schedule will be ``RAL--Assets and 
Liabilities.'' Adding a schedule name to this section will help 
separate the current items from the proposed new items that will only 
be applicable to respondents that are required to submit their FFIEC 
030 report on a quarterly basis. Respondents that submit their FFIEC 
030 report on an annual basis will not need to complete the proposed 
new schedule.
    Eight of the proposed line items would provide a granular breakout 
of what is currently collected on line items 8, 9, 16, and 17. The 
remaining six proposed line items would be new to the FFIEC 030 report. 
The agencies propose to incorporate the following line items from the 
FR 2502q into FFIEC 030, Schedule RAL-A--Due From, Due To, and Other:

Item 1a: Gross due from head office and U.S. branches of this bank
Item 1b: Gross due from other foreign branches of this bank
Item 2a: Gross due from consolidated subsidiaries of this bank in 
the U.S.
Item 2b: Gross due from consolidated subsidiaries of this bank in 
foreign countries
Item 3a: Gross due to head office and U.S. branches of this bank
Item 3b: Gross due to other foreign branches of this bank
Item 4a: Gross due from consolidated subsidiaries of this bank in 
the U.S.
Item 4b: Gross due from consolidated subsidiaries of this bank in 
foreign countries
Item 5: Assets that are claims on U.S. addressees other than 
depository institutions
Item 6: Liabilities to U.S. addressees other than depository 
institutions

    In addition, the proposed line items below would provide the 
agencies with more granular data about certain categories of loans and 
lease receivables, which is expected to be reported in the balance of 
line item 5 above. Collection of the additional line items would 
provide the agencies with the ability to analyze lending by foreign 
branches of U.S. banks to U.S. addresses in different sectors. For 
example, it is not uncommon for foreign branches to make loans secured 
by U.S. real estate. As lending to nondepository institutions continues 
to increase, segmenting the lending between foreign and U.S. addresses 
improves the ability of agencies to assess risks to this type of 
lending. The same reasoning applies to commercial and industrial loans 
and all other loans and leases. The proposed sub-set of line items are 
as follows:

    Assets that are claims on U.S. addressees other than depository 
institutions:

Item 5a: Loans secured by real estate
Item 5b: Loans to nondepository financial institutions
Item 5c: Commercial and industrial loans
Item 5d: All other loans and all leases

    These proposed revisions would reduce the burden on respondents and 
assist the agencies in meeting shared data needs with shared resources. 
The Board will propose similar revisions to the FR 2314 in a separate 
notice. If these revisions are adopted, the Board expects to 
discontinue the FR 2502q, effective as of June 30, 2024.

III. Timing

    The proposed revisions to the FFIEC 030 would first take effect as 
of the June 30, 2024, report date. The agencies invite comment on any 
difficulties that institutions would expect to encounter in 
implementing the systems changes necessary to accommodate the proposed 
revisions to the FFIEC 030.

IV. Request for Comment

    Public comment is requested on all aspects of this joint notice. 
Comment is specifically invited on:
    (a) Whether the information collection is necessary for the proper 
performance of the agencies' functions, including whether the 
information has practical utility;
    (b) The accuracy of the agencies' estimate of the burden of the 
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 the information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    (e) Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Comments submitted in response to this joint notice will be shared 
among the agencies.


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    Dated at Washington, DC, on January 10, 2024.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.

Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.

Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-00970 Filed 1-18-24; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P