[Federal Register Volume 89, Number 62 (Friday, March 29, 2024)]
[Notices]
[Pages 22150-22151]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06718]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the Reporting, Recordkeeping, and Disclosure Requirements Associated
with Regulation YY (FR YY; OMB No. 7100-0350).
DATES: Comments must be submitted on or before May 28, 2024.
ADDRESSES: You may submit comments, identified by FR YY, 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 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: Reporting, Recordkeeping, and Disclosure
Requirements Associated with Regulation YY.
Collection identifier: FR YY.
OMB control number: 7100-0350.
General description of collection: Section 165 of the Dodd-Frank
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act)
authorizes the Board to implement enhanced prudential standards and
impose requirements related to stress tests on certain financial
companies. The Board has relied on this authority to enact Regulation
YY--Enhanced Prudential Standards (12 CFR part 252). The enhanced
prudential standards and other requirements contained in Regulation YY
include risk-based and leverage capital requirements, liquidity
standards, requirements for overall risk management (including
establishing a
[[Page 22151]]
risk committee), stress test requirements, and debt-to-equity limits
for companies that the Financial Stability Oversight Council (FSOC) has
determined pose a grave threat to financial stability. The FR YY
information collection includes reporting, recordkeeping, and
disclosure requirements contained in Regulation YY.
Proposed revisions: The Board proposes to revise the FR YY to take
into account existing provisions in Regulation YY that include
information collections, but had not been included in previous
clearances.
Frequency: Quarterly, biennial, annual, and event-generated.
Respondents: U.S. BHCs, domestic and foreign nonbank SIFIs, SMBs,
FBOs, and U.S. IHCs.
Total estimated number of respondents: 43.
Total estimated change in burden: 2,578.
Total estimated annual burden hours: 26,458.\1\
---------------------------------------------------------------------------
\1\ 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 YY.
Board of Governors of the Federal Reserve System, March 26,
2024.
Ann Misback,
Secretary of the Board.
[FR Doc. 2024-06718 Filed 3-28-24; 8:45 am]
BILLING CODE 6210-01-P