[Federal Register Volume 89, Number 125 (Friday, June 28, 2024)]
[Notices]
[Pages 53999-54000]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-14341]


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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 
Margin Credit Reports (FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, and FR 
U-1; OMB No. 7100-0011).

DATES: The revisions are applicable as of June 28, 2024.

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. On the page displayed at the link above, you can find the 
supporting information by referencing the collection identifier, FR G-
1, FR G-2, FR G-3, FR G-4, FR T-4, or FR U-1.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collection

    Collection title: Margin Credit Reports.
    Collection identifier: FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, and 
FR U-1.
    OMB control number: 7100-0011.
    General description of collection: The Margin Credit Reports is 
comprised of the following six reports: Registration Statement for 
Persons Who Extend Credit Secured by Margin Stock (Other Than Banks, 
Brokers, or Dealers) (FR G-1), Deregistration Statement for Persons 
Registered Pursuant to Regulation U (FR G-2), Statement of Purpose for 
an Extension of Credit Secured by Margin Stock by a Person Subject to 
Registration Under Regulation U (FR G-3), Annual Report (FR G-4), 
Statement

[[Page 54000]]

of Purpose for an Extension of Credit by a Creditor (FR T-4), and 
Statement of Purpose for an Extension of Credit Secured by Margin Stock 
(FR U-1). These reports relate to extensions of credit secured by 
margin stock. The Board collects the information gathered by the Margin 
Credit Reports so that it may meet certain obligations under the 
Securities Exchange Act of 1934.
    Certain lenders that are not brokers, dealers, or banks making 
loans secured by margin stock must register and deregister with the 
Federal Reserve using the FR G-1 and FR G-2, respectively, and must 
file an annual report (FR G-4) while registered. The FR G-1, FR G-2, 
and FR G-4 reporting requirements collect data used to identify lenders 
subject to the Board's Regulation U to verify their compliance with the 
regulation and to monitor margin credit.
    The FR T-4, FR U-1, and FR G-3 are forms that implement 
recordkeeping requirements for brokers and dealers, banks, and other 
lenders, respectively. The FR T-4 documents the purpose of credit being 
extended when that credit is not to purchase, carry, or trade in 
securities and the credit is in excess of that otherwise permitted 
under Regulation T. The FR G-3 and FR U-1 document the purpose of loans 
secured by margin stock.
    Frequency: The FR G-1, FR G-2, FR G-3, FR T-4, and FR U-1 are 
event-generated; the FR G-4 is completed annually.
    Respondents: The FR G-1, FR G-2, FR G-3, and FR G-4 panels comprise 
lenders, other than banks, brokers, or dealers, that extend margin 
credit, including federal and state credit unions; insurance companies; 
commercial and consumer credit organizations; production credit 
associations; small businesses; insurance premium funding plans; plan-
lenders (a company or its affiliate that extends credit to employees to 
purchase company stock under an eligible employee stock option or stock 
purchase plan); and lenders to Employee Stock Ownership Plans (ESOPs), 
thrift plans, and broker-dealer affiliates. The FR T-4 panel comprises 
brokers and dealers and the FR U-1 panel comprises banks.
    Total estimated number of respondents: FR G-1, 25; FR G-2, 12; FR 
G-3, 10; FR G-4, 129; FR T-4, 14; FR U-1, 14.
    Estimated average hours per response: FR G-1, 1.65; FR G-2, 0.53; 
FR G-3, 0.25; FR G-4, 2.07; FR T-4, 0.25; FR U-1, 0.25.
    Total estimated annual burden hours: 697.
    Current actions: On February 16, 2024, the Board published a notice 
in the Federal Register (89 FR 12342) requesting public comment for 60 
days on the extension, with revision, of the FR G-1, FR G-2, FR G-3, FR 
G-4, FR T-4, and FR U-1. The Board revised the FR G-1 and FR G-4 by 
updating the confidentiality treatment as contained in the reporting 
instructions to state that individual respondents may request that 
information submitted to the Board through the FR G-1 and FR G-4 be 
kept confidential and the Board will evaluate whether such treatment is 
appropriate on a case-by-case basis. The comment period for this notice 
expired on April 16, 2024. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, June 25, 2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-14341 Filed 6-27-24; 8:45 am]
BILLING CODE 6210-01-P