[Federal Register Volume 89, Number 43 (Monday, March 4, 2024)]
[Notices]
[Pages 15575-15576]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04398]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System (Board).
ACTION: Notice and request for comment.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (PRA), the Board, the Federal Deposit Insurance Corporation
(FDIC), and the Office of the Comptroller of the Currency (OCC)
(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
Board's publication, on behalf of the agencies, for public comment of a
proposal to extend, without revision, the Country Exposure Report for
U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which is
currently an approved collection of information. In determining whether
to extend the proposed collection of information, the agencies will
consider all comments received. As required by the PRA, the Board would
then publish a second Federal Register notice for a 30-day comment
period and submit the final FFIEC 019 clearance package to OMB for
review and approval.
DATES: Comments must be submitted on or before May 3, 2024.
ADDRESSES: Interested parties are invited to submit written comments,
identified by ``FFIEC 019,'' 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
reporting form number in the subject line of the message.
Fax: (202) 452-3819 or (202) 452-3102.
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 or to remove personally
identifiable information at the commenter's request. Accordingly,
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper form in Room 146, 1709 New York Avenue NW, Washington, DC 20006,
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
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 extension without revision of the FFIEC 019 discussed in this
notice, please contact 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 users may
call (202) 263-4869.
In addition, a copy of the FFIEC 019 form can be obtained at the
FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm).
SUPPLEMENTARY INFORMATION: The Board is proposing to extend for three
years, without revision, the FFIEC 019.
Report Title: Country Exposure Report for U.S. Branches and
Agencies of Foreign Banks.
Form Number: FFIEC 019.
OMB Control Number: 7100-0213.
Frequency of Response: Quarterly.
Affected Public: Business or other for-profit.
Respondents: All branches and agencies of foreign banks domiciled
in the United States with total direct claims on foreign residents in
excess of $30 million.
Estimated Number of Respondents: Ongoing: 147; one-time: 20.
Estimated Average Burden per Response: Ongoing: 10 hours; one-time:
4 hours.
Estimated Total Annual Burden: Ongoing: 5,880 hours; one-time: 320
hours.
General Description of Report
This information collection is required pursuant to sections 7 and
13 of the International Banking Act (12 U.S.C. 3105 and 3108) for the
Board, sections 7 and 10 of the Federal Deposit Insurance Act (12
U.S.C. 1817 and 1820) for the FDIC, and the National Bank Act (12
U.S.C. 161) as applied through section 4 of the International Banking
Act (12 U.S.C. 3102) for the OCC. The FFIEC 019 is given confidential
treatment consistent with 5 U.S.C. 552(b)(4) and (b)(8).
The FFIEC 019 report must be filed by each U.S. branch or agency of
a foreign bank that has total direct claims on foreign residents in
excess of $30 million. The branch or agency reports its total exposure
(1) to residents of its home country, and (2) to the other five foreign
nations to which its exposure is largest and is at least $20 million.
The home country exposure must be reported regardless of the size of
the total claims for that nation.
Each respondent must report by country, as appropriate, the
information on its direct claims (assets such as deposit balances with
banks, loans, or securities), indirect claims (which include
guarantees), and total adjusted claims on foreign residents, as well as
information on commitments. The respondent also must report information
on claims on related non-U.S. offices that are included in total
adjusted claims on the home country, as well as a breakdown for the
home country and each other reported country of adjusted claims on
unrelated foreign residents by the sector of borrower or guarantor, and
by maturity (in two categories: one year or less, and over one year).
The Board
[[Page 15576]]
collects and processes this report on behalf of all three agencies.
Request for Comment
Public comment is requested on all aspects of this notice. Comment
is also 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 to the Board in response to this notice will be
shared with the other agencies. All comments will become a matter of
public record.
Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-04398 Filed 3-1-24; 8:45 am]
BILLING CODE 6210-01-P