Proposed Agency Information Collection Activities; Comment Request, 50102-50106 [2012-20325]
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Federal Register / Vol. 77, No. 161 / Monday, August 20, 2012 / Notices
using the ‘‘eLibrary’’ link and is
available for review in the
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Dated: August 9, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012–20311 Filed 8–17–12; 8:45 am]
BILLING CODE 6717–01–P
EXPORT–IMPORT BANK
[Public Notice 2012–0444]
Application for Final Commitment for a
Long-Term Loan or Financial
Guarantee in Excess of $100 Million
Export-Import Bank of the
United States.
ACTION: Notice of 25 day comment
period regarding an application for final
commitment for a long-term loan or
financial guarantee in excess of $100
million.
AGENCY:
This Notice is to inform the
public, in accordance with Section
3(c)(10) of the Charter of the ExportImport Bank of the United States (‘‘ExIm Bank’’), that Ex-Im Bank has received
an application for final commitment for
a long-term loan or financial guarantee
in excess of $100 million (as calculated
in accordance with Section 3(c)(10) of
the Charter).
Comments received within the
comment period specified below will be
presented to the Ex-Im Bank Board of
Directors prior to final action on this
Transaction.
SUMMARY:
Comments must be received on
or before September 14, 2012 to be
assured of consideration before final
consideration of the transaction by the
Board of Directors of Ex-Im Bank.
ADDRESSES: Comments may be
submitted through www.regulations.gov.
SUPPLEMENTARY INFORMATION:
Reference: AP085466XX.
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DATES:
Purpose and Use
Brief description of the purpose of the
transaction:
To support the export of U.S. services
and equipment to Saudi Arabia.
Brief non-proprietary description of
the anticipated use of the items being
exported:
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The U.S. exports will be used for the
design and construction of a
petrochemical complex.
To the extent that Ex-Im Bank is
reasonably aware, the item(s) being
exported may be used to produce
exports or provide services in
competition with the exportation of
goods or provision of services by a
United States industry.
Parties
Principal Suppliers: Kellogg Brown &
Root Incorporated; Jacobs Engineering
Group Incorporated; Foster Wheeler AG;
Fluor Corporation.
Obligor: The obligor is a special
purpose vehicle anticipated to be named
‘‘Sadara Chemical Company.’’
Guarantor(s): The Dow Chemical
Company, Dow Europe Holding B.V.,
and Saudi Arabian Oil Company.
Description of Items Being Exported
The items being exported are design
work, construction services, technology
licenses, chemicals, and steam
generation equipment.
Information on Decision: Information
on the final decision for this transaction
will be available in the ‘‘Summary
Minutes of Meetings of Board of
Directors’’ on https://www.exim.gov/
articles.cfm/board%20minute.
Confidential Information: Please note
that this notice does not include
confidential or proprietary business
information; information which, if
disclosed, would violate the Trade
Secrets Act; or information which
would jeopardize jobs in the United
States by supplying information that
competitors could use to compete with
companies in the United States.
Sharon A. Whitt,
Agency Clearance Officer.
[FR Doc. 2012–20368 Filed 8–17–12; 8:45 am]
BILLING CODE 6690–01–P
FEDERAL ELECTION COMMISSION
Sunshine Act Meeting Notice
Federal Election Commission.
& TIME: Thursday, August 23, 2012
at 10 a.m.
PLACE: 999 E Street NW., Washington,
DC (Ninth Floor)
STATUS: This hearing will be open to the
public.
AGENCY:
DATE
Item To Be Discussed
Audit Hearing: McCain-Palin 2008, Inc.
and McCain-Palin Compliance Fund,
Inc.
Individuals who plan to attend and
require special assistance, such as sign
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language interpretation or other
reasonable accommodations, should
contact Shelley E. Garr, Deputy
Secretary, at (202) 694–1040, at least 72
hours prior to the hearing date.
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer, Telephone:
(202) 694–1220.
Shawn Woodhead Werth,
Secretary and Clerk of the Commission.
[FR Doc. 2012–20532 Filed 8–16–12; 4:15 pm]
BILLING CODE 6715–01–P
FEDERAL ELECTION COMMISSION
Sunshine Act Meeting Notice
Federal Election Commission.
Thursday, August 23,
2012 at conclusion of the audit hearing
(approximately 11:30 a.m.)
PLACE: 999 E Street NW., Washington,
DC (Ninth Floor).
STATUS: This meeting will be open to the
public.
AGENCY:
DATE AND TIME:
Items To Be Discussed
Correction and Approval of the Minutes
for the Meeting of August 2, 2012.
Draft Advisory Opinion 2012–27:
National Defense Committee.
Draft Advisory Opinion 2012–29:
Hawaiian Airlines, Inc.
Draft Advisory Opinion 2012–30:
Revolution Messaging, LLC.
Audit Division Recommendation
Memorandum on the National
Campaign Fund (A09–26).
Management and Administrative
Matters.
Individuals who plan to attend and
require special assistance, such as sign
language interpretation or other
reasonable accommodations, should
contact Shelley E. Garr, Deputy
Secretary, at (202) 694–1040, at least 72
hours prior to the meeting date.
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer, Telephone:
(202) 694–1220.
Shawn Woodhead Werth,
Secretary and Clerk of the Commission.
[FR Doc. 2012–20534 Filed 8–16–12; 4:15 pm]
BILLING CODE 6715–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
SUMMARY: On June 15, 1984, the Office
of Management and Budget (OMB)
AGENCY:
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Federal Register / Vol. 77, No. 161 / Monday, August 20, 2012 / Notices
delegated to the Board of Governors of
the Federal Reserve System (Board) its
approval authority under the Paperwork
Reduction Act (PRA), pursuant to 5 CFR
1320.16, to approve of and assign OMB
control numbers to collection of
information requests and requirements
conducted or sponsored by the Board
under conditions set forth in 5 CFR part
1320 Appendix A.1. Board-approved
collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
Paperwork Reduction Act Submission,
supporting statements and approved
collection of information instruments
are placed into OMB’s public docket
files. The Federal Reserve may not
conduct or sponsor, and the respondent
is not required to respond to, an
information collection that has been
extended, revised, or implemented on or
after October 1, 1995, unless it displays
a currently valid OMB control number.
DATES: Comments must be submitted on
or before October 19, 2012.
ADDRESSES: You may submit comments,
identified by FR 2004 or FR Y–15, by
any of the following methods:
• Agency Web Site: https://www.
federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include OMB
number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Robert deV. Frierson,
Secretary, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at www.
federalreserve.gov/generalinfo/foia/
ProposedRegs.cfm as submitted, unless
modified for technical reasons.
Accordingly, your 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 MP–500 of the
Board’s Martin Building (20th and C
Streets NW.) between 9 a.m. and 5 p.m.
on weekdays.
Additionally, commenters may send a
copy of their comments to the OMB
Desk Officer—Shagufta Ahmed—Office
of Information and Regulatory Affairs,
Office of Management and Budget, New
Executive Office Building, Room 10235,
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725 17th Street NW., Washington, DC
20503 or by fax to (202) 395–6974.
A
copy of the PRA OMB submission,
including the proposed reporting form
and instructions, supporting statement,
and other documentation will be placed
into OMB’s public docket files, once
approved. These documents will also be
made available on the Federal Reserve
Board’s public Web site at: https://www.
federalreserve.gov/boarddocs/
reportforms/review.cfm or may be
requested from the agency clearance
officer, whose name appears below.
Federal Reserve Board Clearance
Officer—Cynthia Ayouch—Division of
Research and Statistics, Board of
Governors of the Federal Reserve
System, Washington, DC 20551, (202)
452–3829. Telecommunications Device
for the Deaf (TDD) users may contact
(202) 263–4869, Board of Governors of
the Federal Reserve System,
Washington, DC 20551.
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
Request for Comment on Information
Collection Proposals
The following information
collections, which are being handled
under this delegated authority, have
received initial Board approval and are
hereby published for comment. At the
end of the comment period, the
proposed information collections, along
with an analysis of comments and
recommendations received, will be
submitted to the Board for final
approval under OMB delegated
authority. Comments are invited on the
following:
a. Whether the proposed collection of
information is necessary for the proper
performance of the Federal Reserve’s
functions; including whether the
information has practical utility;
b. The accuracy of the Federal
Reserve’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 start up costs
and costs of operation, maintenance,
and purchase of services to provide
information.
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Proposal To Approve Under OMB
Delegated Authority the Extension for
Three Years, With Revision, of the
Following Report
Report title: The Government
Securities Dealers Reports: Weekly
Report of Dealer Positions (FR 2004A),
Weekly Report of Cumulative Dealer
Transactions (FR 2004B), Weekly Report
of Dealer Financing and Fails (FR
2004C), Weekly Report of Specific
Issues (FR 2004SI), Daily Report of
Specific Issues (FR 2004SD),
Supplement to the Daily Report of
Specific Issues (FR 2004SD ad hoc), and
Daily Report of Dealer Activity in
Treasury Financing (FR 2004WI).
Agency form number: FR 2004.
OMB control number: 7100–0003.
Frequency: Weekly, daily.
Reporters: Dealers in the U.S.
government securities market.
Estimated annual reporting hours: FR
2004A, 3,058 hours; FR 2004B, 3,822
hours; FR 2004C, 3,276 hours; FR
2004SI, 2,293 hours; FR 2004SD, 1,103
hours; FR 2004SD ad hoc, 1,092 hours;
FR 2004WI, 3,360 hours.
Estimated average hours per response:
FR 2004A, 2.8 hours; FR 2004B, 3.5
hours; FR 2004C, 3.0 hours; FR 2004SI,
2.1 hours; FR 2004SD, 2.1 hours; FR
2004SD ad hoc, 2.0 hours; FR 2004WI,
1.0 hour.
Number of respondents: 21.
General description of report: This
information collection is authorized by
sections 2A, 12A(c), 14, and 15 of the
Federal Reserve Act (12 U.S.C. 225a,
263c, 353–359, and 391) and is required
to obtain or retain the benefit of dealer
status. Individual respondent data are
regarded as confidential under the
Freedom of Information Act (5 U.S.C.
552(b)(4) and (b)(8)).
Abstract: The FR 2004A collects
weekly data on dealers’ outright
positions in Treasury and other
marketable debt securities. The FR
2004B collects cumulative weekly data
on the volume of transactions made by
dealers in the same instruments for
which positions are reported on the FR
2004A. The FR 2004C collects weekly
data on the amounts of dealer financing
and fails. The FR 2004SI collects weekly
data on position, transaction, financing,
and fails for the most recently issued
on-the-run Treasury securities (the most
recently issued Treasury securities for
each maturity class). When unusual
trading practices occur for a specific
security, this information can be
collected on a daily basis on the FR
2004SD for either on-the-run Treasury
securities or off-the-run Treasury
securities. The FR 2004SD ad hoc
collects up to 10 ad hoc data items
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when critical information is required for
additional market surveillance. The FR
2004WI collects daily data on positions
in to-be-issued Treasury coupon
securities, mainly the trading on a
when-issued delivery basis.
Current Actions: Provided below is a
list of the proposed revisions to each
reporting form followed by a more
detailed discussion of the justification
for each of the proposed revisions,
effective March 31, 2013.
FR 2004A and B
1. Include new maturity breakdowns
for Treasury coupon securities and
Treasury inflation-protected securities
(TIPS).
2. Consolidate maturity breakdowns
for agency and government sponsored
enterprise (GSE) debentures.
3. Expand MBS reporting to include
separate reporting of agency and non
agency mortgage-backed securities
(MBS) as well as separate reporting of
residential pass-through, non passthrough, and commercial mortgagebacked securities (CMBS).
4. Expand reporting of corporate
securities data with separate reporting
of commercial paper and investment
grade/non-investment grade debt
securities.
5. Include new asset classes for state
and municipal government obligations
and asset-backed securities.
FR 2004C
1. Split securities financing data into
repurchase agreements/reverse
repurchase agreements and other
financing activity-securities lent/
borrowed.
2. Expand the asset classes for
securities financing into U.S. Treasury
coupons, TIPS, agency and GSE
debentures, agency MBS, corporate
debt, equities, and other.
3. Expand financing terms to
overnight/continuing, less than 30 days,
and 30 days or greater.
4. Expand securities settlement fails
granularity to U.S. Treasury coupons,
TIPS, agency and GSE debentures,
agency and GSE MBS, other MBS, and
corporate debt securities.
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FR 2004SI and FR 2004SD
Split outright transactions for
Treasury securities into two
counterparty types, with interdealer
brokers and with others.
Expanded Granularity on MBS Products
Expanding the granularity of MBS
data reported on the FR 2004A, B, and
C is proposed. Non federal agency and
GSE-issued MBS would be collected as
a distinct asset class on the FR 2004A
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and B reporting forms instead of in the
corporate securities category. In
addition, residential MBS and
commercial MBS would be collected as
distinct categories. Transactions in
agency pass through securities would be
separately classified as ‘‘cash’’ or as part
of a ‘‘dollar roll,’’ providing information
on the critical role of primary dealers in
intermediating dollar roll transactions
and agency MBS financing to market
participants. The significant expansion
of data collected would allow for a
greater understanding of critical markets
that directly affect the System Open
Market Account, where agency MBS
holdings currently account for over 30%
of total securities holdings. It would
also allow for a greater understanding of
the non-agency MBS market by itself as
well as the interplay between the nonagency and agency MBS markets. In
addition, the increased transparency in
these important markets would benefit
both the Federal Reserve in its role in
financial stability as well as the public
through the expansion of publically
available aggregate statistics.
asset classes as well as separate
reporting of repurchase/reverse
repurchase agreements from other types
of collateralized financing and
additional granularity of contract terms.
The changes in financing reporting,
when used in conjunction with existing
tri-party and general collateral financing
(GCF) repurchase agreement data,
would allow for a clearer understanding
of activity in the repurchase agreement
markets. Separate capture of financing
of U.S. equities is proposed, as is a
separate residual category ‘‘Other,’’
primarily for financing of asset-backed
securities (ABS), municipals, and nonagency issued MBS and collateralized
mortgage obligations (CMO). Contract
terms for securities financing would
expand from two to three categories
with over/under 30 day terms collected
separately. The new split of contract
terms would make the data series more
analytically useful as it more closely
aligns with common industry practices
and market segments.
Additional Information on Treasury
Coupon and TIPS
Expanding the maturity groupings
from four to six categories for Treasury
coupon securities on the FR 2004A and
B is proposed to better align with
Treasury issuance patterns. The new
maturity splits are constructed so that
each one includes a benchmark on-therun security. To improve the
interpretive power of TIPS data on the
FR 2004A and B, four new data items
for TIPS are proposed. The four new
data items would collect TIPS by
maturity buckets split so that each has
one on-the-run TIPS plus an additional
division for short-term TIPS, which tend
to trade separately. Adding a column to
collect interdealer transactions on the
FR 2004SI is proposed to align it with
counterparty reporting on the FR 2004B
reporting form, which would improve
the usefulness of both forms.
Separate collection of non agency or
GSE issued MBS is proposed on the FR
2004C reporting form. This change
would provide consistent treatment of
non agency or GSE-issued MBS across
all of the FR 2004 reporting forms and
would simultaneously enhance the
usefulness of the corporate settlement
fails data by narrowing the definition of
corporate securities with the removal of
this asset class.
Consolidation of Agency and GSE
Debenture Reporting
Reflective of current issuance patterns
toward shorter maturities, consolidation
of agency debenture reporting is
proposed on the FR 2004A and B
reporting form. All coupon securities
would be reported in aggregate,
eliminating the current reporting that
splits positions and transactions into
four separate maturity categories.
The instructions would be revised to
(1) cover all proposed data items
including asset classes that have been
added since the last reports review (e.g.,
ABS, municipal bonds) and (2)
restructure the format and layout with
extensive clarifications and structural
changes.
Expansion of Securities Financing Data
An expansion of securities financing
data is proposed on the FR 2004C
including the broadening of collateral
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Expanded Settlement Fails Data
Publication of Aggregate Data
Publication of aggregate data of all
new items from the FR 2004A, B, and
C is proposed. Publication of aggregate
Treasury on-the-run data with an 8-day
lag from the FR 2004SI form is also
proposed. The expansion of published
aggregate statistics would improve
market transparency across the affected
markets.
Clarifications to the Instructions
Proposal To Approve Under OMB
Delegated Authority the
Implementation of the Following
Report
Report title: The Banking
Organization Systemic Risk Report.
Agency form number: FR Y–15.
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OMB control number: 7100-to-beassigned.
Frequency: Annual.
Reporters: U.S. bank holding
companies (BHCs) and savings and loan
holding companies (SLHCs) with $50
billion or more of total consolidated
assets and foreign banking organizations
(FBOs) with $50 billion or more of
assets in their combined U.S. operations
(including branches).
Estimated annual reporting hours:
11,340 hours.
Estimated average hours per response:
180 hours.
Number of respondents: 63.
General description of report: This
information collection is authorized by
sections 163, 165, and 604 of the DoddFrank Act and the International Banking
Act (12 U.S.C. 1462, 1467, and 3106).
The obligation to respond to the FR Y–
15 is mandatory. The Federal Reserve
proposes that all report data from the FR
Y–15 be made available publicly
through the FFIEC Web site.
Abstract: The FR Y–15 would collect
consolidated systemic risk data from
large U.S. BHCs and U.S. SLHCs, and
aggregated systemic risk data on the
U.S. operations of certain FBOs. Data
collected from this report would be
derived directly from a data collection
developed by the Basel Committee on
Banking Supervision (Basel Committee).
The Federal Reserve would submit the
BHC data to the Basel Committee for use
in determining whether an institution is
a global systemically important bank
(G–SIB) and, if so, what additional
capital requirement would be applied.
The full data set, which includes large
SLHCs and the domestic activities of
FBOs, would be used by the Federal
Reserve to assess the systemic risk
implications of proposed mergers and
acquisitions and may be used to
determine whether an institution is a
domestic systemically important bank.
Current Actions: The Federal Reserve
proposes to implement the FR Y–15.
The data items collected in this report
would mirror those that were developed
by the Basel Committee to assess the
global systemic importance of banks.
The report would consist of the
following schedules:
• Schedule A—Size Indicators;
• Schedule B—Interconnectedness
Indicators;
• Schedule C—Substitutability
Indicators;
• Schedule D—Complexity
Indicators;
• Schedule E—Cross-Jurisdictional
Activity Indicators; and
• Schedule F—Ancillary Indicators.
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Schedule A—Size Indicators
The larger a firm is in terms of total
assets, the larger the potential impact to
the global financial system should that
firm default. The size metric is identical
to the total exposures value used in the
leverage ratio and would be calculated
using both on- and off-balance sheet
data. On-balance sheet items would
include total on-balance sheet assets,
netted and unnetted securities financing
transactions, securities received as
collateral in securities lending, cash
collateral received in conduit securities
lending transactions, derivative
exposures with a net positive fair value,
and cash collateral netted against net
positive derivative exposures. Off
balance sheet items would include
potential future exposure of derivatives,
total notional amount of credit
derivatives sold, credit derivatives sold
net of related credit protection bought,
off-balance sheet items with a 0% credit
conversion factor (CCF),
unconditionally cancellable credit card
commitments, other unconditionally
cancellable commitments, off-balance
sheet items with a 20% CCF, off-balance
sheet items with a 50% CCF, and offbalance sheet items with a 100% CCF.
Certain regulatory adjustments to Tier 1
capital would also be collected.
Schedule B—Interconnectedness
Indicators
The Interconnectedness Indicators
Schedule is comprised of three
subcategories: intra-financial system
assets, intra-financial system liabilities,
and securities issued. Intra-financial
system assets would be comprised of all
funds deposited with or lent to other
financial institutions, undrawn
committed lines extended to other
financial institutions, holdings of
secured debt securities, holdings of
senior unsecured debt securities,
holdings of subordinated debt
securities, holdings of commercial
paper, holdings of certificates of
deposit, holdings of stock (including par
and surplus of common and preferred
shares), offsetting short positions in
relation to stock holdings, net positive
current exposure of securities financing
transactions, net positive fair value of
over-the-counter (OTC) derivatives
(including collateral held if it is within
the master netting agreement), potential
future exposure of OTC derivatives, and
fair value of collateral that is held
outside of the master netting
agreements.
Intra-financial system liabilities
would include all funds deposited by
banks, all funds deposited by non-bank
financial institutions, undrawn
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committed lines obtained from other
financial institutions, net negative
current exposure of securities financing
transactions, net negative fair value of
OTC derivatives (include collateral
provided if it is within the master
netting agreement), potential future
exposure of OTC derivatives, and fair
value of collateral that is provided
outside of the master netting
agreements.
Securities issued by the bank would
include secured debt securities, senior
unsecured debt securities, subordinated
debt securities, commercial paper,
certificates of deposit, and stock
(including par and surplus of common
and preferred shares).
Schedule C—Substitutability Indicators
The Substitutability Indicators
Schedule would include the total value
of all payments sent by the bank (and
the total value of all payments sent on
behalf of other institutions), for the
reporting year, in Australian dollars,
Brazilian real, Canadian dollars, Swiss
francs, Chinese yuan, Euros, Pound
sterling, Hong Kong dollars, Indian
rupee, Japanese yen, Swedish krona,
and United States dollars. All outgoing
payments would be included regardless
of whether the payments were initiated
directly via a payment system or
indirectly via an agent bank. The
reported payment totals would reflect
gross payment activity (i.e., they would
not be netted against any incoming
payments). It also would include the
value of assets the bank holds as a
custodian on behalf of customers, equity
underwriting activity, and debt
underwriting activity.
Schedule D—Complexity Indicators
The Complexity Indicators Schedule
would include OTC derivatives cleared
through a central counterparty, OTC
derivatives cleared bilaterally, held-fortrading securities (HFT), available-forsale securities (AFS), securities for
which the fair value option is elected
(FVO), total stock of Level 1 assets, total
stock of Level 1 assets under HFT, AFS
or FVO accounting treatment, total stock
of Level 2 assets, total stock of Level 2
assets under HFT, AFS or FVO
accounting treatment, adjustment to
stock of high quality liquid assets due
to cap on Level 2 assets, held-tomaturity securities, and assets valued
using Level 3 measurement inputs.
Schedule E—Cross-Jurisdictional
Activity Indicators
The Cross-jurisdictional Activity
Indicators Schedule would include total
foreign claims on an ultimate risk basis,
foreign liabilities (excluding local
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liabilities in local currency), foreign
liabilities to related offices, and local
liabilities in a local currency.
Schedule F—Ancillary Indicators
The Ancillary Indicators Schedule
would include total liabilities, retail
funding, non-domestic net revenue,
total net revenue, total gross revenue,
equity market capitalization, gross value
of all cash and gross fair value of
securities lent in securities financing
transactions, gross value of all cash and
gross fair value of securities borrowed in
securities financing transactions, gross
positive fair value of OTC derivatives
transactions, gross negative fair value of
OTC derivatives transactions, unsecured
settlement/clearing lines provided, and
number of jurisdictions.
The Federal Reserve proposes to
implement the collection of the new
systemic risk report as of December 31,
2012, so that it may be used in the next
G–SIB data collection exercise, which is
scheduled to begin in February 2013.
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than September 14,
2012.
A. Federal Reserve Bank of
Philadelphia (William Lang, Senior Vice
President) 100 North 6th Street,
Philadelphia, Pennsylvania 19105–
1521:
1. Fulton Financial Corporation,
Lancaster, Pennsylvania; to acquire up
to 7.3 percent of the voting shares of
Bryn Mawr Bank Corporation, and
thereby indirectly acquire voting shares
of The Bryn Mawr Trust Company, both
in Bryn Mawr, Pennsylvania.
Board of Governors of the Federal Reserve
System, August 15, 2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012–20375 Filed 8–17–12; 8:45 am]
Board of Governors of the Federal Reserve
System, August 15, 2012.
Robert deV. Frierson,
Secretary of the Board.
BILLING CODE 6210–01–P
[FR Doc. 2012–20325 Filed 8–17–12; 8:45 am]
Notice of Proposals To Engage in or
To Acquire Companies Engaged in
Permissible Nonbanking Activities
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
mstockstill on DSK4VPTVN1PROD with NOTICES
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
VerDate Mar<15>2010
16:25 Aug 17, 2012
Jkt 226001
FEDERAL RESERVE SYSTEM
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y, (12
CFR part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each notice is available for inspection
at the Federal Reserve Bank indicated.
The notice also will be available for
inspection at the offices of the Board of
Governors. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act.
Unless otherwise noted, comments
regarding the applications must be
received at the Reserve Bank indicated
or the offices of the Board of Governors
not later than September 14, 2012.
A. Federal Reserve Bank of
Philadelphia (William Lang, Senior Vice
President) 100 North 6th Street,
PO 00000
Frm 00029
Fmt 4703
Sfmt 4703
Philadelphia, Pennsylvania 19105–
1521:
1. Customers Bancorp, Inc.,
Wyomissing, Pennsylvania; to acquire
100 percent of the voting shares of
Acacia Federal Savings Bank, Falls
Church, Virginia, and thereby engage in
operating a savings association,
pursuant to section 225.28(b)(4)(ii).
Board of Governors of the Federal Reserve
System, August 15, 2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012–20374 Filed 8–17–12; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension
Federal Trade Commission
(‘‘FTC’’ or ‘‘Commission’’).
ACTION: Notice.
AGENCY:
The FTC intends to ask the
Office of Management and Budget
(‘‘OMB’’) to extend through November
30, 2015, the current Paperwork
Reduction Act (‘‘PRA’’) clearance for the
FTC’s shared enforcement with the
Consumer Financial Protection Bureau
(‘‘CFPB’’) of the information collection
requirements in subpart N of Regulation
V. That clearance expires on November
30, 2012.
DATES: Comments must be filed by
October 19, 2012.
ADDRESSES: Interested parties may file a
comment online or on paper, by
following the instructions in the
Request for Comment part of the
SUPPLEMENTARY INFORMATION section
below. Write ‘‘Subpart N of Regulation
V, PRA Comment, P125403,’’ on your
comment and file your comment online
at https://ftcpublic.commentworks.com/
ftc/SubpartNRegulationVPRA by
following the instructions on the webbased form. If you prefer to file your
comment on paper, mail or deliver your
comment to the following address:
Federal Trade Commission, Office of the
Secretary, Room H–113 (Annex J), 600
Pennsylvania Avenue NW., Washington,
DC 20580.
FOR FURTHER INFORMATION CONTACT:
Tiffany George, Attorney, Division of
Privacy and Identity Protection, Bureau
of Consumer Protection, (202) 326–
3040, 600 Pennsylvania Ave. NW.,
Washington, DC 20580.
SUPPLEMENTARY INFORMATION: Title X of
the Dodd-Frank Wall Street Reform and
SUMMARY:
E:\FR\FM\20AUN1.SGM
20AUN1
]]>Agencies
[Federal Register Volume 77, Number 161 (Monday, August 20, 2012)]
[Notices]
[Pages 50102-50106]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-20325]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB)
[[Page 50103]]
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act (PRA),
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers
to collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR part 1320
Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the Paperwork Reduction Act
Submission, supporting statements and approved collection of
information instruments are placed into OMB's public docket files. The
Federal Reserve may not conduct or sponsor, and the respondent is not
required to respond to, an information collection that has been
extended, revised, or implemented on or after October 1, 1995, unless
it displays a currently valid OMB control number.
DATES: Comments must be submitted on or before October 19, 2012.
ADDRESSES: You may submit comments, identified by FR 2004 or FR Y-15,
by any of the following methods:
Agency Web Site: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Email: regs.comments@federalreserve.gov. Include OMB
number in the subject line of the message.
Fax: (202) 452-3819 or (202) 452-3102.
Mail: Robert deV. Frierson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue NW.,
Washington, DC 20551.
All public comments are available from the Board's Web site at
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons. Accordingly, your 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 MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 9
a.m. and 5 p.m. on weekdays.
Additionally, commenters may send a copy of their comments to the
OMB Desk Officer--Shagufta Ahmed--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: A copy of the PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be made
available on the Federal Reserve Board's public Web site at: https://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be
requested from the agency clearance officer, whose name appears below.
Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division
of Research and Statistics, Board of Governors of the Federal Reserve
System, Washington, DC 20551, (202) 452-3829. Telecommunications Device
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors
of the Federal Reserve System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Request for Comment on Information Collection Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve'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 start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, With Revision, of the Following Report
Report title: The Government Securities Dealers Reports: Weekly
Report of Dealer Positions (FR 2004A), Weekly Report of Cumulative
Dealer Transactions (FR 2004B), Weekly Report of Dealer Financing and
Fails (FR 2004C), Weekly Report of Specific Issues (FR 2004SI), Daily
Report of Specific Issues (FR 2004SD), Supplement to the Daily Report
of Specific Issues (FR 2004SD ad hoc), and Daily Report of Dealer
Activity in Treasury Financing (FR 2004WI).
Agency form number: FR 2004.
OMB control number: 7100-0003.
Frequency: Weekly, daily.
Reporters: Dealers in the U.S. government securities market.
Estimated annual reporting hours: FR 2004A, 3,058 hours; FR 2004B,
3,822 hours; FR 2004C, 3,276 hours; FR 2004SI, 2,293 hours; FR 2004SD,
1,103 hours; FR 2004SD ad hoc, 1,092 hours; FR 2004WI, 3,360 hours.
Estimated average hours per response: FR 2004A, 2.8 hours; FR
2004B, 3.5 hours; FR 2004C, 3.0 hours; FR 2004SI, 2.1 hours; FR 2004SD,
2.1 hours; FR 2004SD ad hoc, 2.0 hours; FR 2004WI, 1.0 hour.
Number of respondents: 21.
General description of report: This information collection is
authorized by sections 2A, 12A(c), 14, and 15 of the Federal Reserve
Act (12 U.S.C. 225a, 263c, 353-359, and 391) and is required to obtain
or retain the benefit of dealer status. Individual respondent data are
regarded as confidential under the Freedom of Information Act (5 U.S.C.
552(b)(4) and (b)(8)).
Abstract: The FR 2004A collects weekly data on dealers' outright
positions in Treasury and other marketable debt securities. The FR
2004B collects cumulative weekly data on the volume of transactions
made by dealers in the same instruments for which positions are
reported on the FR 2004A. The FR 2004C collects weekly data on the
amounts of dealer financing and fails. The FR 2004SI collects weekly
data on position, transaction, financing, and fails for the most
recently issued on-the-run Treasury securities (the most recently
issued Treasury securities for each maturity class). When unusual
trading practices occur for a specific security, this information can
be collected on a daily basis on the FR 2004SD for either on-the-run
Treasury securities or off-the-run Treasury securities. The FR 2004SD
ad hoc collects up to 10 ad hoc data items
[[Page 50104]]
when critical information is required for additional market
surveillance. The FR 2004WI collects daily data on positions in to-be-
issued Treasury coupon securities, mainly the trading on a when-issued
delivery basis.
Current Actions: Provided below is a list of the proposed revisions
to each reporting form followed by a more detailed discussion of the
justification for each of the proposed revisions, effective March 31,
2013.
FR 2004A and B
1. Include new maturity breakdowns for Treasury coupon securities
and Treasury inflation-protected securities (TIPS).
2. Consolidate maturity breakdowns for agency and government
sponsored enterprise (GSE) debentures.
3. Expand MBS reporting to include separate reporting of agency and
non agency mortgage-backed securities (MBS) as well as separate
reporting of residential pass-through, non pass-through, and commercial
mortgage-backed securities (CMBS).
4. Expand reporting of corporate securities data with separate
reporting of commercial paper and investment grade/non-investment grade
debt securities.
5. Include new asset classes for state and municipal government
obligations and asset-backed securities.
FR 2004C
1. Split securities financing data into repurchase agreements/
reverse repurchase agreements and other financing activity-securities
lent/borrowed.
2. Expand the asset classes for securities financing into U.S.
Treasury coupons, TIPS, agency and GSE debentures, agency MBS,
corporate debt, equities, and other.
3. Expand financing terms to overnight/continuing, less than 30
days, and 30 days or greater.
4. Expand securities settlement fails granularity to U.S. Treasury
coupons, TIPS, agency and GSE debentures, agency and GSE MBS, other
MBS, and corporate debt securities.
FR 2004SI and FR 2004SD
Split outright transactions for Treasury securities into two
counterparty types, with interdealer brokers and with others.
Expanded Granularity on MBS Products
Expanding the granularity of MBS data reported on the FR 2004A, B,
and C is proposed. Non federal agency and GSE-issued MBS would be
collected as a distinct asset class on the FR 2004A and B reporting
forms instead of in the corporate securities category. In addition,
residential MBS and commercial MBS would be collected as distinct
categories. Transactions in agency pass through securities would be
separately classified as ``cash'' or as part of a ``dollar roll,''
providing information on the critical role of primary dealers in
intermediating dollar roll transactions and agency MBS financing to
market participants. The significant expansion of data collected would
allow for a greater understanding of critical markets that directly
affect the System Open Market Account, where agency MBS holdings
currently account for over 30% of total securities holdings. It would
also allow for a greater understanding of the non-agency MBS market by
itself as well as the interplay between the non-agency and agency MBS
markets. In addition, the increased transparency in these important
markets would benefit both the Federal Reserve in its role in financial
stability as well as the public through the expansion of publically
available aggregate statistics.
Additional Information on Treasury Coupon and TIPS
Expanding the maturity groupings from four to six categories for
Treasury coupon securities on the FR 2004A and B is proposed to better
align with Treasury issuance patterns. The new maturity splits are
constructed so that each one includes a benchmark on-the-run security.
To improve the interpretive power of TIPS data on the FR 2004A and B,
four new data items for TIPS are proposed. The four new data items
would collect TIPS by maturity buckets split so that each has one on-
the-run TIPS plus an additional division for short-term TIPS, which
tend to trade separately. Adding a column to collect interdealer
transactions on the FR 2004SI is proposed to align it with counterparty
reporting on the FR 2004B reporting form, which would improve the
usefulness of both forms.
Consolidation of Agency and GSE Debenture Reporting
Reflective of current issuance patterns toward shorter maturities,
consolidation of agency debenture reporting is proposed on the FR 2004A
and B reporting form. All coupon securities would be reported in
aggregate, eliminating the current reporting that splits positions and
transactions into four separate maturity categories.
Expansion of Securities Financing Data
An expansion of securities financing data is proposed on the FR
2004C including the broadening of collateral asset classes as well as
separate reporting of repurchase/reverse repurchase agreements from
other types of collateralized financing and additional granularity of
contract terms. The changes in financing reporting, when used in
conjunction with existing tri-party and general collateral financing
(GCF) repurchase agreement data, would allow for a clearer
understanding of activity in the repurchase agreement markets. Separate
capture of financing of U.S. equities is proposed, as is a separate
residual category ``Other,'' primarily for financing of asset-backed
securities (ABS), municipals, and non-agency issued MBS and
collateralized mortgage obligations (CMO). Contract terms for
securities financing would expand from two to three categories with
over/under 30 day terms collected separately. The new split of contract
terms would make the data series more analytically useful as it more
closely aligns with common industry practices and market segments.
Expanded Settlement Fails Data
Separate collection of non agency or GSE issued MBS is proposed on
the FR 2004C reporting form. This change would provide consistent
treatment of non agency or GSE-issued MBS across all of the FR 2004
reporting forms and would simultaneously enhance the usefulness of the
corporate settlement fails data by narrowing the definition of
corporate securities with the removal of this asset class.
Publication of Aggregate Data
Publication of aggregate data of all new items from the FR 2004A,
B, and C is proposed. Publication of aggregate Treasury on-the-run data
with an 8-day lag from the FR 2004SI form is also proposed. The
expansion of published aggregate statistics would improve market
transparency across the affected markets.
Clarifications to the Instructions
The instructions would be revised to (1) cover all proposed data
items including asset classes that have been added since the last
reports review (e.g., ABS, municipal bonds) and (2) restructure the
format and layout with extensive clarifications and structural changes.
Proposal To Approve Under OMB Delegated Authority the Implementation of
the Following Report
Report title: The Banking Organization Systemic Risk Report.
Agency form number: FR Y-15.
[[Page 50105]]
OMB control number: 7100-to-be-assigned.
Frequency: Annual.
Reporters: U.S. bank holding companies (BHCs) and savings and loan
holding companies (SLHCs) with $50 billion or more of total
consolidated assets and foreign banking organizations (FBOs) with $50
billion or more of assets in their combined U.S. operations (including
branches).
Estimated annual reporting hours: 11,340 hours.
Estimated average hours per response: 180 hours.
Number of respondents: 63.
General description of report: This information collection is
authorized by sections 163, 165, and 604 of the Dodd-Frank Act and the
International Banking Act (12 U.S.C. 1462, 1467, and 3106). The
obligation to respond to the FR Y-15 is mandatory. The Federal Reserve
proposes that all report data from the FR Y-15 be made available
publicly through the FFIEC Web site.
Abstract: The FR Y-15 would collect consolidated systemic risk data
from large U.S. BHCs and U.S. SLHCs, and aggregated systemic risk data
on the U.S. operations of certain FBOs. Data collected from this report
would be derived directly from a data collection developed by the Basel
Committee on Banking Supervision (Basel Committee). The Federal Reserve
would submit the BHC data to the Basel Committee for use in determining
whether an institution is a global systemically important bank (G-SIB)
and, if so, what additional capital requirement would be applied. The
full data set, which includes large SLHCs and the domestic activities
of FBOs, would be used by the Federal Reserve to assess the systemic
risk implications of proposed mergers and acquisitions and may be used
to determine whether an institution is a domestic systemically
important bank.
Current Actions: The Federal Reserve proposes to implement the FR
Y-15. The data items collected in this report would mirror those that
were developed by the Basel Committee to assess the global systemic
importance of banks. The report would consist of the following
schedules:
Schedule A--Size Indicators;
Schedule B--Interconnectedness Indicators;
Schedule C--Substitutability Indicators;
Schedule D--Complexity Indicators;
Schedule E--Cross-Jurisdictional Activity Indicators; and
Schedule F--Ancillary Indicators.
Schedule A--Size Indicators
The larger a firm is in terms of total assets, the larger the
potential impact to the global financial system should that firm
default. The size metric is identical to the total exposures value used
in the leverage ratio and would be calculated using both on- and off-
balance sheet data. On-balance sheet items would include total on-
balance sheet assets, netted and unnetted securities financing
transactions, securities received as collateral in securities lending,
cash collateral received in conduit securities lending transactions,
derivative exposures with a net positive fair value, and cash
collateral netted against net positive derivative exposures. Off
balance sheet items would include potential future exposure of
derivatives, total notional amount of credit derivatives sold, credit
derivatives sold net of related credit protection bought, off-balance
sheet items with a 0% credit conversion factor (CCF), unconditionally
cancellable credit card commitments, other unconditionally cancellable
commitments, off-balance sheet items with a 20% CCF, off-balance sheet
items with a 50% CCF, and off-balance sheet items with a 100% CCF.
Certain regulatory adjustments to Tier 1 capital would also be
collected.
Schedule B--Interconnectedness Indicators
The Interconnectedness Indicators Schedule is comprised of three
subcategories: intra-financial system assets, intra-financial system
liabilities, and securities issued. Intra-financial system assets would
be comprised of all funds deposited with or lent to other financial
institutions, undrawn committed lines extended to other financial
institutions, holdings of secured debt securities, holdings of senior
unsecured debt securities, holdings of subordinated debt securities,
holdings of commercial paper, holdings of certificates of deposit,
holdings of stock (including par and surplus of common and preferred
shares), offsetting short positions in relation to stock holdings, net
positive current exposure of securities financing transactions, net
positive fair value of over-the-counter (OTC) derivatives (including
collateral held if it is within the master netting agreement),
potential future exposure of OTC derivatives, and fair value of
collateral that is held outside of the master netting agreements.
Intra-financial system liabilities would include all funds
deposited by banks, all funds deposited by non-bank financial
institutions, undrawn committed lines obtained from other financial
institutions, net negative current exposure of securities financing
transactions, net negative fair value of OTC derivatives (include
collateral provided if it is within the master netting agreement),
potential future exposure of OTC derivatives, and fair value of
collateral that is provided outside of the master netting agreements.
Securities issued by the bank would include secured debt
securities, senior unsecured debt securities, subordinated debt
securities, commercial paper, certificates of deposit, and stock
(including par and surplus of common and preferred shares).
Schedule C--Substitutability Indicators
The Substitutability Indicators Schedule would include the total
value of all payments sent by the bank (and the total value of all
payments sent on behalf of other institutions), for the reporting year,
in Australian dollars, Brazilian real, Canadian dollars, Swiss francs,
Chinese yuan, Euros, Pound sterling, Hong Kong dollars, Indian rupee,
Japanese yen, Swedish krona, and United States dollars. All outgoing
payments would be included regardless of whether the payments were
initiated directly via a payment system or indirectly via an agent
bank. The reported payment totals would reflect gross payment activity
(i.e., they would not be netted against any incoming payments). It also
would include the value of assets the bank holds as a custodian on
behalf of customers, equity underwriting activity, and debt
underwriting activity.
Schedule D--Complexity Indicators
The Complexity Indicators Schedule would include OTC derivatives
cleared through a central counterparty, OTC derivatives cleared
bilaterally, held-for-trading securities (HFT), available-for-sale
securities (AFS), securities for which the fair value option is elected
(FVO), total stock of Level 1 assets, total stock of Level 1 assets
under HFT, AFS or FVO accounting treatment, total stock of Level 2
assets, total stock of Level 2 assets under HFT, AFS or FVO accounting
treatment, adjustment to stock of high quality liquid assets due to cap
on Level 2 assets, held-to-maturity securities, and assets valued using
Level 3 measurement inputs.
Schedule E--Cross-Jurisdictional Activity Indicators
The Cross-jurisdictional Activity Indicators Schedule would include
total foreign claims on an ultimate risk basis, foreign liabilities
(excluding local
[[Page 50106]]
liabilities in local currency), foreign liabilities to related offices,
and local liabilities in a local currency.
Schedule F--Ancillary Indicators
The Ancillary Indicators Schedule would include total liabilities,
retail funding, non-domestic net revenue, total net revenue, total
gross revenue, equity market capitalization, gross value of all cash
and gross fair value of securities lent in securities financing
transactions, gross value of all cash and gross fair value of
securities borrowed in securities financing transactions, gross
positive fair value of OTC derivatives transactions, gross negative
fair value of OTC derivatives transactions, unsecured settlement/
clearing lines provided, and number of jurisdictions.
The Federal Reserve proposes to implement the collection of the new
systemic risk report as of December 31, 2012, so that it may be used in
the next G-SIB data collection exercise, which is scheduled to begin in
February 2013.
Board of Governors of the Federal Reserve System, August 15,
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-20325 Filed 8-17-12; 8:45 am]
BILLING CODE 6210-01-P
