[Federal Register Volume 89, Number 146 (Tuesday, July 30, 2024)]
[Notices]
[Pages 61119-61120]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16730]


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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. On March 4, 2024, the Board, under the auspices 
of the Federal Financial Institutions Examination Council (FFIEC), of 
which the agencies are members, requested public comment for 60 days on 
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. The comment period for 
the proposal ended on May 3, 2024. As described in the SUPPLEMENTARY 
INFORMATION section, the agencies will extend the FFIEC 019 as 
proposed. The Board hereby gives notice of its plan to submit to OMB a 
request to approve the revision and extension of this information 
collection, and again invites comment on the proposal.

DATES: Comments must be submitted on or before August 29, 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: 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 identifying or 
contact information. Public comments may also be viewed electronically 
or in paper 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 the agency staff member whose name appears 
below. 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).
    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.

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: 147.
    Estimated Average Burden per Response: 10 hours.
    Estimated Total Annual Burden: 5,880 hours.

I. 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

[[Page 61120]]

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 collects and processes this report on behalf of all three 
agencies.

II. Current Actions

    On March 4, 2024, the Board published a notice in the Federal 
Register (89 FR 15575) requesting comment for 60 days on a proposal to 
extend for three years, without revision, the FFIEC 019. The comment 
period for the proposal ended on May 3, 2024, and no comments were 
received.

III. 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, July 25, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-16730 Filed 7-29-24; 8:45 am]
BILLING CODE 6210-01-P