Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 69844-69845 [2012-28309]
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Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
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.
srobinson on DSK4SPTVN1PROD with
Proposal To Approve Under OMB
Delegated Authority the Extension for
Three Years, Without Revision, of the
Following Reports
1. Report title: Disclosure and
Reporting Requirements of CRA-Related
Agreements.
Agency form number: Reg G.
OMB control number: 7100–0299.
Frequency: On occasion and annual.
Reporters: Insured depository
institutions (IDIs), savings and loan
holding companies (SLHCs) and
nongovernmental entities or persons
(NGEPs).
Estimated annual reporting hours: 78
hours.
Estimated average hours per response:
1 hour (3 disclosure requirements and 5
reporting requirements) and 4 hours (2
reporting requirements).
Number of respondents: 3 IDIs and
SLHCs, and 6 NGEPs.
General description of report: This
information collection is mandatory
pursuant the Federal Deposit Insurance
Act (FDI Act), 12 U.S.C. 1831y(b) and
(c). The FDI Act authorizes the Federal
Reserve to require the disclosure and
reporting requirements of Regulation G
(12 CFR part 207). In general, the
Federal Reserve does not consider
individual respondent commercial and
financial information collected by the
Federal Reserve pursuant to Regulation
G as confidential. However, a
respondent may request confidential
treatment pursuant to section (b)(4) of
Freedom of Information Act, 5 U.S.C.
552(b)(4).
Abstract: Section 48 of the Federal
Deposit Insurance Act (FDI Act),
entitled ‘‘CRA Sunshine Requirements,’’
imposes disclosure and reporting
requirements on IDIs or their affiliates,
and NGEPs that enter into written
agreements that meet certain criteria
(covered agreements).1 The written
agreements must (1) be made in
1 12
U.S.C. 1831y.
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16:56 Nov 20, 2012
Jkt 229001
fulfillment of the CRA and (2) involve
funds or other resources of an IDI or
affiliate with an aggregate value of more
than $10,000 in a year, or loans with an
aggregate principal value of more than
$50,000 in a year. Section 48 excludes
from the disclosure and reporting
requirements any agreement between an
IDI or its affiliate and an NGEP if the
NGEP has not contacted the IDI or its
affiliate, or a banking agency,
concerning the CRA performance of the
IDI.
The disclosure and reporting
requirements in connection with
Regulation G are mandatory and apply
to state member banks and their
subsidiaries; savings and loan holding
companies; bank holding companies;
affiliates of bank holding companies,
other than banks, savings associations,
and subsidiaries of banks and savings
associations; and NGEPs that enter into
covered agreements with any of the
aforementioned companies.
2. Report title: Disclosure
Requirements in Connection With
Subpart H of Regulation H (Consumer
Protections in Sales of Insurance).
Agency form number: Reg H–7.
OMB control number: 7100–0298.
Frequency: On occasion.
Reporters: State member banks.
Estimated annual reporting hours:
12,962 hours.
Estimated average hours per response:
1.5 minutes
Number of respondents: 823.
General description of report: This
information collection is mandatory
pursuant the Federal Deposit Insurance
(FDI) Act, 12 U.S.C. 1831x. The FDI Act
authorizes the Federal Reserve to
require the disclosure requirements
associated with Subpart H of Regulation
H (12 CFR 208.81—208.86). Since the
Federal Reserve does not collect any
information, no issue of confidentiality
normally arises.
Abstract: Section 305 of the GrammLeach-Bliley Act of 1999 requires
financial institutions to provide written
and oral disclosures to consumers in
connection with the initial sale of an
insurance product or annuity
concerning its uninsured nature and the
existence of the investment risk, if
appropriate, and the fact that insurance
sales and credit may not be tied.
Covered persons are required to make
insurance disclosures before the
completion of the initial sale of an
insurance product or annuity to a
consumer. The disclosure must be made
orally and in writing to the consumer
that: (1) The insurance product or
annuity is not a deposit or other
obligation of, or guaranteed by, the
financial institution or an affiliate of the
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Fmt 4703
Sfmt 4703
financial institution; (2) the insurance
product or annuity is not insured by the
Federal Deposit Insurance Corporation
or any other agency of the United States,
the financial institution, or (if
applicable) an affiliate of the financial
institution; and (3) in the case of an
insurance product or annuity that
involves an investment risk, there is
investment risk associated with the
product, including the possible loss of
value.
Covered persons are required to make
a credit disclosure at the time a
consumer applies for an extension of
credit in connection with which an
insurance product or annuity is
solicited, offered, or sold. The
disclosure must be made orally and in
writing that the financial institution
may not condition an extension of credit
on either: (1) the consumer’s purchase
of an insurance product or annuity from
the financial institution or any of its
affiliates; or (2) the consumer’s
agreement not to obtain, or a prohibition
on the consumer from obtaining, an
insurance product or annuity from an
unaffiliated entity.
Board of Governors of the Federal Reserve
System, November 16, 2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012–28298 Filed 11–20–12; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: Notice is hereby given of the
final approval of a proposed information
collections by the Board of Governors of
the Federal Reserve System (Board)
under OMB delegated authority, as per
5 CFR 1320.16 (OMB Regulations on
Controlling Paperwork Burdens on the
Public). 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
instrument(s) 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.
AGENCY:
E:\FR\FM\21NON1.SGM
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Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
FOR FURTHER INFORMATION CONTACT:
srobinson on DSK4SPTVN1PROD with
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.
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.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Report
Report Title: Recordkeeping
Requirements Associated with the
Interagency Statement on Complex
Structured Finance Activities.
Agency Form Number: FR 4022.
OMB Control Number: 7100–0311.
Frequency: Annual.
Reporters: State member banks, bank
holding companies, and U.S. branches
and agencies of foreign banks
supervised by the Federal Reserve.
Estimated Annual Reporting Hours:
200 hours.
Estimated Average Hours per
Response: 10 hours.
Estimated Number of Respondents:
20.
General Description of Report: The FR
4022 is authorized by sections 11(a),
11(i), 21, and 25 of the Federal Reserve
Act (12 U.S.C. 248(a), 248(i), 483, and
602), section 5 of the Bank Holding
Company Act (12 U.S.C. 1844), and
section 13(a) of the International
Banking Act (12 U.S.C. 3108(a)) and is
voluntary guidance for supervised
institutions. However, the Federal
Reserve expects to use the Statement in
reviewing the internal controls and risk
management systems of those financial
institutions engaged in Complex
Structured Finance Activities (CSFTs)
as part of the Federal Reserve’s
supervisory process. Since the Federal
Reserve does not collect any
information, no issue of confidentiality
normally arises. However, in the event
records generated under the guidance
are obtained by the Federal Reserve
during an examination of a state
member bank or U.S. branch or agency
of a foreign bank, or during an
inspection of a bank holding company,
confidential treatment may be afforded
to the records under exemption 8 of the
Freedom of Information Act (FOIA), 5
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18:13 Nov 20, 2012
Jkt 229001
U.S.C. 552(b)(8). FOIA exemption 8
exempts from disclosure matters that are
contained in or related to examination,
operating, or condition reports prepared
by, on behalf of, or for the use of an
agency responsible for the regulation or
supervision of financial institutions.
Abstract: The Interagency Statement
on Complex Structured Finance
Activities provides that state member
banks, bank holding companies, and
U.S. branches and agencies of foreign
banks supervised by the Federal Reserve
should establish and maintain policies
and procedures for identifying,
evaluating, assessing, documenting, and
controlling risks associated with certain
CSFTs. A financial institution engaged
in CSFTs should maintain a set of
formal, firm-wide policies and
procedures that are designed to allow
the institution to identify, evaluate,
assess, document, and control the full
range of credit, market, operational,
legal, and reputational risks associated
with these transactions. These policies
may be developed specifically for
CSFTs, or included in the set of broader
policies governing the institution
generally. A financial institution
operating in foreign jurisdictions may
tailor its policies and procedures as
appropriate to account for, and comply
with, the applicable laws, regulations
and standards of those jurisdictions. A
financial institution’s policies and
procedures should establish a clear
framework for the review and approval
of individual CSFTs. These policies and
procedures should set forth the
responsibilities of the personnel
involved in the origination, structuring,
trading, review, approval,
documentation, verification, and
execution of CSFTs. A financial
institution should define what
constitutes a new complex structured
finance product and establish a control
process for the approval of such new
products. An institution’s policies also
should provide for new complex
structured finance products to receive
the approval of all relevant control areas
that are independent of the profit center
before the product is offered to
customers.
Current Actions: On August 28, 2012,
the Federal Reserve published a notice
in the Federal Register (77 FR 52031)
requesting public comment for 60 days
on the extension, without revision, of
the FR 4022. The comment period for
this notice expired on October 29, 2012.
The Federal Reserve did not receive any
comments.
PO 00000
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Fmt 4703
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69845
Board of Governors of the Federal Reserve
System, November 16, 2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012–28309 Filed 11–20–12; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RETIREMENT THRIFT
INVESTMENT BOARD
Sunshine Act Meeting Notice
10:00 a.m. (Eastern
Time), November 27, 2012.
PLACE: 10th Floor Board Meeting Room,
77 K Street NE., Washington, DC 20002.
STATUS: All parts will be open to the
public.
TIME AND DATE:
Matters To Be Considered:
1. Approval of the Minutes of the
October 22, 2012 Board Member
Meeting
2. Thrift Savings Plan Activity Report
by the Acting Executive Director
a. Monthly Participant Activity Report
b. Quarterly Investment Performance
Report
c. Legislative Report
3. 2012/2013 Board Meeting Calendar
Contact Person for More Information:
Kimberly Weaver, Director, Office of
External Affairs, (202) 942–1640.
Dated: November 19, 2012.
Megan Grumbine,
Acting Secretary, Federal Retirement Thrift
Investment Board.
[FR Doc. 2012–28433 Filed 11–19–12; 4:15 pm]
BILLING CODE 6760–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Final Effect of Designation of a Class
of Employees for Addition to the
Special Exposure Cohort
National Institute for
Occupational Safety and Health
(NIOSH), Centers for Disease Control
and Prevention, Department of Health
and Human Services (HHS).
ACTION: Notice.
AGENCY:
HHS gives notice concerning
the final effect of the HHS decision to
designate a class of employees from the
Ventron Corporation facility, in Beverly,
Massachusetts, as an addition to the
Special Exposure Cohort (SEC) under
the Energy Employees Occupational
Illness Compensation Program Act of
2000. On October 12, 2012, as provided
for under 42 U.S.C. 7384q(b), the
Secretary of HHS designated the
SUMMARY:
E:\FR\FM\21NON1.SGM
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]]>Agencies
[Federal Register Volume 77, Number 225 (Wednesday, November 21, 2012)]
[Notices]
[Pages 69844-69845]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28309]
-----------------------------------------------------------------------
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: Notice is hereby given of the final approval of a proposed
information collections by the Board of Governors of the Federal
Reserve System (Board) under OMB delegated authority, as per 5 CFR
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). 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
instrument(s) 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.
[[Page 69845]]
FOR FURTHER INFORMATION CONTACT: 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.
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.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Report
Report Title: Recordkeeping Requirements Associated with the
Interagency Statement on Complex Structured Finance Activities.
Agency Form Number: FR 4022.
OMB Control Number: 7100-0311.
Frequency: Annual.
Reporters: State member banks, bank holding companies, and U.S.
branches and agencies of foreign banks supervised by the Federal
Reserve.
Estimated Annual Reporting Hours: 200 hours.
Estimated Average Hours per Response: 10 hours.
Estimated Number of Respondents: 20.
General Description of Report: The FR 4022 is authorized by
sections 11(a), 11(i), 21, and 25 of the Federal Reserve Act (12 U.S.C.
248(a), 248(i), 483, and 602), section 5 of the Bank Holding Company
Act (12 U.S.C. 1844), and section 13(a) of the International Banking
Act (12 U.S.C. 3108(a)) and is voluntary guidance for supervised
institutions. However, the Federal Reserve expects to use the Statement
in reviewing the internal controls and risk management systems of those
financial institutions engaged in Complex Structured Finance Activities
(CSFTs) as part of the Federal Reserve's supervisory process. Since the
Federal Reserve does not collect any information, no issue of
confidentiality normally arises. However, in the event records
generated under the guidance are obtained by the Federal Reserve during
an examination of a state member bank or U.S. branch or agency of a
foreign bank, or during an inspection of a bank holding company,
confidential treatment may be afforded to the records under exemption 8
of the Freedom of Information Act (FOIA), 5 U.S.C. 552(b)(8). FOIA
exemption 8 exempts from disclosure matters that are contained in or
related to examination, operating, or condition reports prepared by, on
behalf of, or for the use of an agency responsible for the regulation
or supervision of financial institutions.
Abstract: The Interagency Statement on Complex Structured Finance
Activities provides that state member banks, bank holding companies,
and U.S. branches and agencies of foreign banks supervised by the
Federal Reserve should establish and maintain policies and procedures
for identifying, evaluating, assessing, documenting, and controlling
risks associated with certain CSFTs. A financial institution engaged in
CSFTs should maintain a set of formal, firm-wide policies and
procedures that are designed to allow the institution to identify,
evaluate, assess, document, and control the full range of credit,
market, operational, legal, and reputational risks associated with
these transactions. These policies may be developed specifically for
CSFTs, or included in the set of broader policies governing the
institution generally. A financial institution operating in foreign
jurisdictions may tailor its policies and procedures as appropriate to
account for, and comply with, the applicable laws, regulations and
standards of those jurisdictions. A financial institution's policies
and procedures should establish a clear framework for the review and
approval of individual CSFTs. These policies and procedures should set
forth the responsibilities of the personnel involved in the
origination, structuring, trading, review, approval, documentation,
verification, and execution of CSFTs. A financial institution should
define what constitutes a new complex structured finance product and
establish a control process for the approval of such new products. An
institution's policies also should provide for new complex structured
finance products to receive the approval of all relevant control areas
that are independent of the profit center before the product is offered
to customers.
Current Actions: On August 28, 2012, the Federal Reserve published
a notice in the Federal Register (77 FR 52031) requesting public
comment for 60 days on the extension, without revision, of the FR 4022.
The comment period for this notice expired on October 29, 2012. The
Federal Reserve did not receive any comments.
Board of Governors of the Federal Reserve System, November 16,
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-28309 Filed 11-20-12; 8:45 am]
BILLING CODE 6210-01-P
