[Federal Register Volume 89, Number 126 (Monday, July 1, 2024)]
[Notices]
[Pages 54462-54463]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-14365]



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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 Treasury Securities and Agency Debt and Mortgage-Backed Securities 
Reporting Requirements (FR 2956; OMB No. 7100-0383).

DATES: Comments must be submitted on or before August 30, 2024.

ADDRESSES: You may submit comments, identified by FR 2956, 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. On the page displayed at the link above, you can 
find the supporting information by referencing the collection 
identifier, FR 2956. 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: Treasury Securities and Agency Debt and Mortgage-
Backed Securities Reporting Requirements.
    Collection identifier: FR 2956.
    OMB control number: 7100-0383.
    General description of collection: The FR 2956 collects detailed 
data on depository institutions' daily transactions trading of 
marketable U.S. Treasury securities and transactions trading of the 
debt and mortgage-backed securities (MBS) issued by U.S. federal 
government agencies including government-sponsored enterprises 
(agencies). The 2956 has two parts: Part 1 collects data on 
transactions in U.S. Treasury debt, and Part 2 collects transactions in 
debt and MBS issued by agencies. Every national bank, state member 
bank, state non-member bank, savings association, or U.S. branch and 
agency of a foreign bank filing a Notice by Financial Institutions of 
Government Securities Broker or Government Securities Dealer Activities 
(Form G-FIN; OMB No. 7100-0224) with average daily transaction volumes 
of over $100 million, for U.S. Treasury debt, or over $50 million, for 
agency-issued debt and MBS, during the prior fiscal year is subject to 
the these reporting requirements. Depository institutions subject to 
the reporting requirements of the FR 2956 electronically report 
transactions through the Board's data collection vendor, the Financial 
Industry Regulatory Authority (FINRA), utilizing its Trade Reporting 
and Compliance Engine (TRACE). Broker-dealers that are members of FINRA 
report transactions pursuant to the FINRA rules, and not the FR 2956. 
The Board receives data on transactions executed by FINRA members.
    Proposed revisions: The Board proposes to revise Part 1 of the FR 
2956 report, which pertains to the reporting of transactions in U.S. 
Treasury securities, by updating (i) the timeframe within which a 
depository institution

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subject to the reporting requirements of Part 1 of the FR 2956 must 
report transactions in U.S. Treasury securities, and (ii) for 
transactions executed electronically, the minimum increment of time 
that must be used for reporting the execution times. The Board also 
proposes certain technical and clarifying revisions to Part 2 of the FR 
2956 report. Specifically, the revisions are intended to make the 
definitions clearer and to correct an error.
    Frequency: Daily, event-generated.
    Respondents: Depository institutions that meet the above reporting 
thresholds. Prime brokers or depository institutions who file Form G-
FIN and are FINRA members acting as an executing broker and that 
therefore already are subject to TRACE reporting pursuant to FINRA 
rules are exempt from this reporting requirement.
    Total estimated number of respondents: 22.
    Total estimated change in burden: (11,000).
    Total estimated annual burden hours: 22,000.

    Board of Governors of the Federal Reserve System, June 25, 2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-14365 Filed 6-28-24; 8:45 am]
BILLING CODE 6210-01-P