Proposed Agency Information Collection Activities; Comment Request, 71416-71420 [2014-28351]

Download as PDF rljohnson on DSK3VPTVN1PROD with NOTICES 71416 Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices Estimated average hours per response: Nonaffiliate Transactions: 30 hours; Affiliate Transactions: 18 hours. Number of respondents: Nonaffiliate Transactions: 56; Affiliate Transactions: 11. General description of report: This information collection is required pursuant to section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)) and is not given confidential treatment. However, applicants may request that parts of a submitted application be kept confidential. In such cases, the burden is on the applicant to justify the exemption by demonstrating that disclosure would cause substantial competitive harm or result in an unwarranted invasion of personal privacy or would otherwise qualify for an exemption under the Freedom of Information Act (5 U.S.C. 552). The confidentiality status of the information submitted will be judged on a case-bycase basis. Abstract: The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (the agencies) each use this application form to collect information for bank merger proposals that require prior approval under the Bank Merger Act. Prior approval is required for every merger transaction involving affiliated or nonaffiliated institutions and must be sought from the regulatory agency of the depository institution that would survive the proposed transaction. A merger transaction may include a merger, consolidation, assumption of deposit liabilities, or certain asset-transfers between or among two or more institutions. The Federal Reserve collects this information so that it may meet its statutory obligation of evaluating (with respect to every state member bank merger proposal) the competitive effects, the adequacy of the financial and managerial resources of the institutions involved, and the effect on the convenience and needs of the affected communities. 2. Report title: Interagency Notice of Change in Bank Control, Interagency Notice of Change in Director or Senior Executive Officer, and Interagency Biographical and Financial Report. Agency form number: FR 2081a, FR 2081b, and FR 2081c. OMB control number: 7100–0134. Frequency: On occasion. Reporters: Bank holding companies (BHCs), state member banks (SMBs), and certain of their officers and shareholders. Estimated annual reporting hours: FR 2081a: 5,040 hours; FR 2081b: 618 hours; FR 2081c: 6,680 hours. VerDate Sep<11>2014 15:30 Dec 01, 2014 Jkt 235001 Estimated average hours per response: FR 2081a: 30 hours; FR 2081b: 2 hours; FR 2081c: 4 hours. Number of respondents: FR 2081a: 168; FR 2081b: 309; FR 2081c: 1,670. General description of report: The FR 2081a and FR 2081c are mandatory pursuant to section 7(j) of the Federal Deposit Insurance Act (12 U.S.C. 1817(j)). The FR 2081b and FR 2081c are mandatory pursuant to section 914 of the Financial Institutions Reform, Recovery, and Enforcement Act (12 U.S.C. 1831(i)). This information collection is not given confidential treatment. The organizations and individuals that use the forms may request that all or a portion of the submitted information be kept confidential. In such cases, the burden is on the filer to justify the exemption by demonstrating that disclosure would cause substantial competitive harm or result in an unwarranted invasion of personal privacy or would otherwise qualify for an exemption under the Freedom of Information Act (5 U.S.C. 552). The confidentiality status of the information submitted will be determined on a case-by-case basis. Abstract: The information collected assists the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (the agencies) in fulfilling their statutory responsibilities as supervisors. Each of these forms is used to collect information in connection with applications and notices filed prior to proposed changes in the ownership or management of banking organizations. The agencies use the information to evaluate the controlling owners, senior officers, and directors of the insured depository institutions subject to their oversight. The information collected in an Interagency Notice of Change in Bank Control (FR 2081a) submitted to the Federal Reserve is provided by persons proposing to make significant investments in a BHC or SMB. The information collected in the Interagency Notice of Change in Director or Senior Executive Officer (FR 2081b) is required under Section 914 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and is submitted to the Federal Reserve (under certain circumstances) by a BHC or SMB making changes in its board of directors or senior executive officers. The Interagency Biographical and Financial Report (FR 2081c) is not a stand-alone reporting form; it is a companion reporting form to the FR 2081a and the FR 2018b (and to other Federal Reserve information collections) that is used to gather required information about the individuals PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 involved in various applications and notices. Current Actions: On September 12, 2014, the Federal Reserve published a notice in the Federal Register (79 FR 54720) requesting public comment for 60 days on the extension, without revision, of the Interagency Bank Merger Act Application; and of the Interagency Notice of Change in Bank Control, Interagency Notice of Change in Director or Senior Executive Officer, and Interagency Biographical and Financial Report. The comment period for this notice expired on November 12, 2014. The Federal Reserve did not receive any comments. The information collections will be extended as proposed. Board of Governors of the Federal Reserve System, November 26, 2014. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2014–28350 Filed 12–1–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. AGENCY: On June 15, 1984, the Office of Management and Budget (OMB) 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. SUMMARY: Comments must be submitted on or before February 2, 2015. DATES: You may submit comments, identified by the FR 2052a and FR 2052b reports, by any of the following methods: ADDRESSES: E:\FR\FM\02DEN1.SGM 02DEN1 rljohnson on DSK3VPTVN1PROD with NOTICES Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices • Agency Web site: http:// www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Federal eRulemaking Portal: http:// 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 http:// www.federalreserve.gov/apps/foia/ proposedregs.aspx 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 9:00 a.m. and 5:00 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: http:// www.federalreserve.gov/apps/ reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. Federal Reserve Board Acting Clearance Officer—John Schmidt— Office of the Chief Data Officer, 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 Proposal The following information collection, which is being handled under this VerDate Sep<11>2014 15:30 Dec 01, 2014 Jkt 235001 delegated authority, has received initial Board approval and are hereby published for comment. At the end of the comment period, the proposed information collection, 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 Reports Report titles: The Complex Institution Liquidity Monitoring Report (FR 2052a) and the Liquidity Monitoring Report (FR 2052b). Agency form numbers: FR 2052a and FR 2052b. OMB control number: 7100–0361. Frequency: 2052a: Daily or monthly; 2052b: Quarterly. Respondents: • FR 2052a: Bank holding companies, savings and loan holding companies subject to the liquidity coverage ratio, and nonbank financial companies that the Financial Stability Oversight Council has determined under section 113 of the Dodd-Frank Act (12 U.S.C. 5323) shall be supervised by the Board and for which such determination is still in effect, where the Board has applied the requirements of the liquidity coverage ratio to such company by rule or order (together, U.S. chartered firms) with total assets of $700 billion or more or with $10 trillion or more in assets under custody; U.S. chartered firms with total assets of less than $700 billion and with assets under custody of less than $10 trillion, but total assets of $250 billion or more or foreign exposure of $10 billion or more; PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 71417 U.S. chartered firms with total assets of $50 billion or more but, total assets of less than $250 billion and foreign exposure of less than $10 billion; Foreign banking organizations (FBOs) with U.S. assets of $50 billion or more and broker/dealer assets of $100 billion or more; FBOs with U.S. assets of $50 billion or more and broker/dealer assets of less than $100 billion. • FR 2052b: U.S. bank holding companies (BHCs) not controlled by FBOs with total consolidated assets of $10 billion or more but less than $50 billion. Estimated annual reporting hours: FR 2052a: 396,120 hours; FR 2052b: 11,280 hours.1 Estimated average hours per response: FR 2052a: Ranges between 120 hours and 400 hours; FR 2052b: 60 hours. Number of respondents: FR 2052a: 50; FR 2052b: 47. General description of report: These reports are authorized pursuant to section 5 of the Bank Holding Company Act (12 U.S.C. 1844), section 8 of the International Banking Act (12 U.S.C. 3106) and section 165 of the Dodd Frank Act (12 U.S.C. 5365) and are mandatory. Section 5(c) of the Bank Holding Company Act authorizes the Board to require BHCs to submit reports to the Board regarding their financial condition. Section 8(a) of the International Banking Act subjects FBOs to the provisions of the Bank Holding Company Act. Section 165 of the DoddFrank Act requires the Board to establish prudential standards for certain BHCs and FBOs; these standards include liquidity requirements. The individual financial institution information provided by each respondent would be accorded confidential treatment under exemption 8 of the Freedom of Information Act (5 U.S.C. 552(b)(8)). In addition, the institution information provided by each respondent would not be otherwise available to the public and is entitled to confidential treatment under the authority of exemption 4 of the Freedom of Information Act (5 U.S.C. 552(b)(4)), which protects from disclosure trade secrets and commercial or financial information. Abstract: The FR 2052 reports are used to monitor the overall liquidity profile of institutions supervised by the Federal Reserve. These data provide detailed information on the liquidity risks within different business lines 1 With the proposed revisions, the paperwork burden for 2015 is estimated to initially decrease to 407,400 hours, with incremental increases for 2016 and 2017, for an annual net increase of 938,240 hours. Please see the OMB supporting statement for additional detail. E:\FR\FM\02DEN1.SGM 02DEN1 rljohnson on DSK3VPTVN1PROD with NOTICES 71418 Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices (e.g., financing of securities positions, prime brokerage activities). In particular, these data serve as part of the Federal Reserve’s supervisory surveillance program in its liquidity risk management area and provide timely information on firm-specific liquidity risks during periods of stress. Analysis of systemic and idiosyncratic liquidity risk issues are then used to inform the Federal Reserve’s supervisory processes, including the preparation of analytical reports that detail funding vulnerabilities. Current actions: The Federal Reserve proposes to extend for three years, with revision, the Complex Institution Liquidity Monitoring Report (FR 2052a) and the Liquidity Monitoring Report (FR 2052b) (OMB No. 7100–0361) effective beginning March 31, 2015. The Federal Reserve proposes to revise the FR 2052a report by modifying the: (1) Respondent panel and threshold, (2) frequency of reporting, (3) reporting platform structure, and (4) data item granularity. The Federal Reserve proposes to revise the FR 2052b report by modifying the respondent panel threshold and frequency. The proposed revisions are described in detail below. The Federal Reserve proposes to revise the FR 2052a report to improve the effectiveness of its supervisory surveillance program. In general, the revisions would provide additional detail to facilitate a more sophisticated approach to monitoring liquidity risk. The proposed data elements are more detailed and would align with the Liquidity Coverage Ratio (LCR).2 For the most internationally active firms, liquidity profiles would be reported by currency for each material entity of the reporting institutions, which for BHCs may include sub-divisions of the global banking entity by geographical region, and for FBOs would include material entities outside the U.S. that are managed from the U.S. These dimensions are important because dislocations in foreign exchange markets and restrictions limiting fund transfers can inhibit the ability of a global financial institution to convert its available sources of liquidity to meet its specific needs. The proposed data collection would collect more details regarding securities financing transactions, wholesale unsecured funding, deposits, loans, unfunded commitments, collateral, derivatives, and foreign exchange transactions. The greater level of detail surrounding these activities is necessary to ensure that 2 79 FR 61440 (October 10, 2014). Press Release is available at http://www.federalreserve.gov/ newsevents/press/bcreg/20140903a.htm. VerDate Sep<11>2014 15:30 Dec 01, 2014 Jkt 235001 supervised firms are adequately reserving for the risks based on current supervisory expectations and the DoddFrank Act’s Enhanced Prudential Standards. Furthermore, the Federal Reserve proposes to change the structure of the collection to an XML format from a spreadsheet format. This new structure is necessary to accommodate the additional granularity and implement the collection with leading data industry practices. The revisions to FR 2052a include a new hierarchy that subdivides the three general categories of inflows, outflows and supplemental items into 10 distinct data tables. These tables are designed to stratify the assets, liabilities and supplemental components of a firm’s liquidity risk profile based on products that can be described with common data structures, while still maintaining a coherent framework for liquidity risk reporting. The internationally active reporting entities would report by major currency all data elements denominated in major currencies, while other data elements denominated in non-major currencies would be converted into United States Dollars (USDs) and flagged as converted. Reporting entities that are not internationally active would be able to report exclusively in USD by flagging data as converted. Reporting by major currency or flagging a conversion should help supervisors to identify potential currency mismatches. Additionally, data elements would be reported for each material legal entity, which are identified by the Federal Reserve for a given reporting entity. All entities that are required to comply with the LCR are considered material legal entities. This granularity in currency and material legal entity reporting would enhance monitoring of a firm’s liquidity resources to ensure they are distributed according to specific needs, considering existing or potential regulatory or other limitations on intercompany liquidity transfers. The granularity of the data increased along numerous items of FR 2052a. Maturity buckets increased to daily for the first 60 days to eliminate potential contractual maturity mismatches in the near term. There are now more categories of assets, largely delineated by the type of security or loan, the structuring of cash flows, and risk-based capital weightings. The list of counterparty types increased, along with the number of products requiring the counterparty to be reported, including loan cash flows, deposits, committed facilities, and certain unsecured borrowings. PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 The proposed revisions would also draw more distinction between types of securities financing transactions such as collateral swaps, to-be-announced contracts, and the various methods of covering firm or customer short sales. Fields would be added for the amount of re-hypothecation, collateralization, encumbrance, and methods of settlement. The report would provide information on the stock and flow of collateral received and posted for derivative transactions, as well as values of prime brokerage client assets and associated wire transfers. Together, these revisions to secured financing transactions would provide a more complete view of the firm’s activities, especially brokerage activities, and certain liquidity risk characteristics, all of which were implicated during the recent financial crisis. Several new types of deposit accounts would also be added, such as escrow accounts and various categories of brokered deposits and sweeps. Balances that are ‘‘fully insured’’ would be identified, as well as balances that are subject to withdrawal in the event of a specific change or trigger. Certain elements would be added to capture risk associated with collateral. The potential requirements to post collateral in the event of an adverse move in the mark-to-market value of a firm’s derivative portfolio or a change in a firm’s financial condition is reported. Additionally, firms would report collateral balances that are contractually owed to a counterparty, but not yet called. Fields would be added to capture the settlement date cash flows in forward starting transactions. This revision would accommodate ‘‘trade date’’ reporting, which would allow for a more accurate representation of forward looking cash flows. The instructions for reporting the maturity date of a transaction would also be modified for short term (less than one year) liabilities with call options, as well as certain transactions reported in the Secured Inflows table where the collateral received was rehypothecated. Reporting of foreign exchange transactions, such as foreign exchange spot, forwards and futures, and swap transactions, would be required in order to complement the currency level reporting of cash flows. The proposed revisions to the FR 2052a report includes sections covering broad funding classifications by product, outstanding balance and purpose, segmented by maturity date. Generally, each section can be classified into one of the following categories: E:\FR\FM\02DEN1.SGM 02DEN1 71419 Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices • Section 1: Inflows-Assets: Institutions would report assets such as unencumbered assets, borrowing capacity from central banks or FHLBs, unrestricted reserve balances at central banks, restricted reserve balances at central banks, unsettled asset purchases, and forward asset purchases. • Section 2: Inflows-Unsecured: Institutions would report unsecured inflow transactions such as onshore placement, offshore placements, required nostro balances, excess nostro balances, outstanding draws on revolving facilities, and other unsecured loans. • Section 3: Inflows-Secured: Institutions would report secured inflow transactions such as reverse repurchase agreements, securities borrowing transactions, dollar rolls, collateral swaps, margin loans, other secured loans where the collateral is rehypothecatable, and other secured loans where the collateral is not rehypothecatable. • Section 4: Inflows-Other: Institutions would report other inflow transactions such as derivatives receivables, collateral called for receipt, sales in the to-be-announced market, undrawn committed facilities purchased, lock-up balances, interest and dividends receivables, a net 30-day derivatives receivables measure, principal payments receivable on unencumbered investment securities, and other inflow transactions. • Section 5: Outflows-Wholesale: Institutions would report wholesale outflow transactions such as assetbacked commercial paper single-seller outflows, asset-back commercial paper multi-seller outflows, collateralized commercial paper, asset-backed securities, covered bonds, tender option bonds, other asset-backed financing, commercial paper, onshore borrowing, offshore borrowing, unstructured longterm debt, structured long-term debt, government supported debt, unsecured notes, structured notes, wholesale certificates of deposit, draws on committed facilities, free credits, and other unsecured wholesale outflow transactions. • Section 6: Outflows-Secured: Institutions would report secured outflow transactions such as repurchase agreements, securities lending transactions, dollar rolls, collateral swaps, FHLB Advances, outstanding secured funding from facilities at central banks, customer short transactions, firm short transactions, and other secured outflow transactions. • Section 7: Outflows-Deposits: Institutions would report deposit outflow transactions such as transactional accounts, nontransactional relationship accounts, non-transactional non-relationship accounts, operational accounts, nonoperational accounts, operational escrow accounts, non-reciprocal brokered accounts, affiliated sweep accounts, non-affiliated sweeps accounts, other product sweep accounts, reciprocal accounts, other third-party deposits, and other deposit accounts. • Section 8: Outflows-Other: Institutions would report other outflow transactions such as derivatives payables, collateral called for delivery, purchases in the to-be-announced market, credit facilities, liquidity facilities, retail mortgage commitments, trade finance instruments, potential derivative valuation changes, loss of rehypothecation rights and collateral required due to changes in financial condition, excess customer margin, commitments to lend on margin to customers, interest and dividends payables, a net 30-day derivatives payables measure, other outflows related to structured transactions, and other cash outflow transactions. • Section 9: SupplementalInformational: Institutions would report supplemental information such as initial margin posted and received, variation margin posted and received, collateral dispute receivables and deliverables, collateral that may need to be delivered, collateral that the institution could request to be received, collateral that could be substituted by the institution or a counterparty, long and short market value of client assets, gross client wires received and paid, subsidiary liquidity that cannot be transferred, 23A capacity, outflows or inflows from closing out hedges early, and potential outflows from nonstructured or structured debt maturing beyond 30 days where the institution is the primary market maker in that debt. • Section 10: Supplemental-Foreign Exchange: Institutions would report foreign exchange information such as foreign exchange spot, forwards and futures, and swap transactions. The Federal Reserve requests specific comment on the following: • The proposal would require data retention of six months. Is six months appropriate or would another time period be more appropriate, such as three months or one year? • Is the proposed maturity schedule provided in Appendix IV to the instructions appropriate for all respondents, such as those firms that are only subject to the Liquidity Coverage Ratio for Certain Bank Holding Companies? 3 If not appropriate, what maturity schedule should apply to those respondents? Additionally, is the proposed maturity schedule provided in Appendix IV to the instructions appropriate for all listed products? If not, what maturity schedule should apply to those products? • Should a description of how the FR 2052a data will be used to monitor LCR compliance be published? Proposed FR 2052b Revisions The Federal Reserve proposes to revise the FR 2052b reporting panel by eliminating the monthly reporting frequency. The U.S. BHCs (excluding G– SIBs) with total consolidated assets of $50 billion or more (including FBO subsidiaries) that currently file the monthly FR 2052b report would move to the proposed FR 2052a monthly and daily reporting panel. Proposed Reporting Panel and Frequency of Submissions 4 The proposed scope of application, frequency, and submission dates are contained in the following table. First as-of date Reporter description Frequency FR 2052a .......................... rljohnson on DSK3VPTVN1PROD with NOTICES Report No. U.S. chartered firms with total assets ≥$700 billion or with assets under custody of ≥$10 trillion. Monthly ............................ Daily ................................. 3 79 FR 61440, 61540. that are not subject to the LCR are not subject to these reporting requirements, however, 4 SLHCs VerDate Sep<11>2014 15:30 Dec 01, 2014 Jkt 235001 through future rulemakings these institutions may be required to participate in some form of liquidity monitoring. PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 E:\FR\FM\02DEN1.SGM 02DEN1 6 03/31/2015 07/01/2015 First submission date 5 04/02/2015 07/03/2015 71420 Federal Register / Vol. 79, No. 231 / Tuesday, December 2, 2014 / Notices First as-of date First submission date 5 Report No. Reporter description Frequency FR 2052a .......................... U.S. chartered firms with total assets <$700 billion and with assets under custody of <$10 trillion but, total assets ≥$250 billion or foreign exposure ≥$10 billion. U.S. chartered firms with total assets ≥$50 billion but, total assets <$250 billion and foreign exposure <$10 billion. FBOs with U.S. assets ≥$50 billion and U.S. brokerdealer assets ≥$100 billion. FBOs with U.S. assets ≥$50 billion and U.S. brokerdealer assets <$100 billion. U.S. BHCs (not controlled by FBOs) with total consolidated assets of between $10 billion and $50 billion. Monthly ............................ Daily ................................. 7 07/31/2015 07/01/2016 08/02/2015 07/03/2016 Monthly ............................ 01/31/2016 02/02/2016 Monthly ............................ Daily ................................. Monthly ............................ Monthly 9 .......................... Quarterly .......................... 03/31/2015 07/01/2015 01/31/2016 07/31/2016 12/31/2014 04/02/2015 07/03/2015 02/02/2016 08/02/2016 01/15/2015 FR 2052a 8 ........................ FR 2052a .......................... FR 2052a .......................... FR 2052b 10 ....................... rljohnson on DSK3VPTVN1PROD with NOTICES The parent company for those firms with less than $250 billion in total consolidated assets and with less than $10 billion of on-balance sheet foreign exposure would submit data for the following entities: The global consolidated entity and the parent only (ignoring consolidated subsidiaries). Respondents should consult their supervisory teams to determine if the parent company should also separately report any consolidated banks or nonbanks that are material contributors to the firm’s funding and liquidity operations. The parent company for those firms with $250 billion or more in total consolidated assets or $10 billion or more of on-balance sheet foreign exposure would submit data for the following entities: The global 5 For U.S. bank holidays and weekends, no positions should be reported. For data reported by entities in international locations, if there is a local bank holiday, submit data for those entities using the data from the previous business day. 6 These firms must comply with the transitions set forth in the LCR, which requires an LCR calculation monthly starting in January 2015. However, these firms do not need to report on 2052a until this reporting as-of date. 7 These firms must comply with the transitions set forth in the LCR, which requires an LCR calculation monthly starting in January 2015. However, these firms do not need to report on 2052a until this reporting as-of date. 8 The frequency of the FR 2052a monthly report may be temporarily adjusted to daily on a case-bycase basis as market conditions and supervisory needs change to carry out effective continuous liquidity monitoring. The Federal Reserve anticipates frequency adjustments to be a rare occurrence. 9 These FBOs would be required to have the ability to report on each business day. If the FBO consolidates a U.S. chartered firm that would independently have to report daily, then the FBO must report daily. The Federal Reserve would test these FBOs for their ability to report daily. 10 FR 2052b will not change for U.S. BHCs (not controlled by FBOs) with total consolidated assets of between $10 billion and $50 billion, so the frequency and as-of date will be the same as it is currently. VerDate Sep<11>2014 15:30 Dec 01, 2014 Jkt 235001 consolidated entity, the parent only (ignoring consolidated subsidiaries), and, separately, each consolidated bank and non-bank entity that is a material contributor to the firm’s funding and liquidity operations. For these firms, all bank entities with total consolidated assets of $10 billion or more would be considered material legal entities. Respondents should consult their supervisory teams to determine other material legal entities that should also be reported. FBOs with U.S. assets of $50 billion or more would report for their consolidated U.S. assets, as well as for all material entities managed within the U.S. For FBOs that own U.S. entities subject to the LCR, material entities include at least those entities subject to the LCR. Respondents should consult their supervisory teams to determine other material entities that should also be reported. Some firms that are currently filing on FR 2052b would be required to file on the updated 2052a, pursuant to the proposed schedule set forth in the transition table. The firms currently filing on FR 2052b would cease filing the 2052b once they begin filing the updated 2052a. Firms currently filing the FR 2052a would be required to file the updated 2052a, pursuant to the proposed schedule set forth in the transition table. The firms currently filing on FR 2052a would cease filing on the current 2052a once they are filing daily on the updated 2052a. Additionally, there are some firms that are not currently filing either the 2052a or 2052b, but would be required to file the updated 2052a, pursuant to the proposed schedule set forth in the transition table. Among these companies are SLHCs that are subject to the LCR and nonbank financial companies that the Financial Stability Oversight Council has determined PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 under section 113 of the Dodd-Frank Act (12 U.S.C. 5323) shall be supervised by the Board and for which such determination is still in effect, where the Board has applied the requirements of the LCR to such company by rule or order. The Board consulted outside the Federal Reserve System with other U.S. regulatory authorities including the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation in the development of FR 2052a. In addition, data sharing agreements will be constituted with other U.S. regulatory agencies with supervisory responsibilities over subject institutions to monitor compliance with the LCR and to ensure there are no redundant data collections. Also, the Federal Reserve has held general discussions with financial institutions regarding the proposed revisions. Board of Governors of the Federal Reserve System, November 26, 2014. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2014–28351 Filed 12–1–14; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at E:\FR\FM\02DEN1.SGM 02DEN1

Agencies

[Federal Register Volume 79, Number 231 (Tuesday, December 2, 2014)]
[Notices]
[Pages 71416-71420]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-28351]


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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) 
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 February 2, 2015.

ADDRESSES: You may submit comments, identified by the FR 2052a and FR 
2052b reports, by any of the following methods:

[[Page 71417]]

     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://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 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx 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 
9:00 a.m. and 5:00 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: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Acting Clearance Officer--John Schmidt--
Office of the Chief Data Officer, 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 Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and are 
hereby published for comment. At the end of the comment period, the 
proposed information collection, 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 Reports

    Report titles: The Complex Institution Liquidity Monitoring Report 
(FR 2052a) and the Liquidity Monitoring Report (FR 2052b).
    Agency form numbers: FR 2052a and FR 2052b.
    OMB control number: 7100-0361.
    Frequency: 2052a: Daily or monthly; 2052b: Quarterly.
    Respondents:
     FR 2052a: Bank holding companies, savings and loan holding 
companies subject to the liquidity coverage ratio, and nonbank 
financial companies that the Financial Stability Oversight Council has 
determined under section 113 of the Dodd-Frank Act (12 U.S.C. 5323) 
shall be supervised by the Board and for which such determination is 
still in effect, where the Board has applied the requirements of the 
liquidity coverage ratio to such company by rule or order (together, 
U.S. chartered firms) with total assets of $700 billion or more or with 
$10 trillion or more in assets under custody; U.S. chartered firms with 
total assets of less than $700 billion and with assets under custody of 
less than $10 trillion, but total assets of $250 billion or more or 
foreign exposure of $10 billion or more; U.S. chartered firms with 
total assets of $50 billion or more but, total assets of less than $250 
billion and foreign exposure of less than $10 billion; Foreign banking 
organizations (FBOs) with U.S. assets of $50 billion or more and 
broker/dealer assets of $100 billion or more; FBOs with U.S. assets of 
$50 billion or more and broker/dealer assets of less than $100 billion.
     FR 2052b: U.S. bank holding companies (BHCs) not 
controlled by FBOs with total consolidated assets of $10 billion or 
more but less than $50 billion.
    Estimated annual reporting hours: FR 2052a: 396,120 hours; FR 
2052b: 11,280 hours.\1\
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    \1\ With the proposed revisions, the paperwork burden for 2015 
is estimated to initially decrease to 407,400 hours, with 
incremental increases for 2016 and 2017, for an annual net increase 
of 938,240 hours. Please see the OMB supporting statement for 
additional detail.
---------------------------------------------------------------------------

    Estimated average hours per response: FR 2052a: Ranges between 120 
hours and 400 hours; FR 2052b: 60 hours.
    Number of respondents: FR 2052a: 50; FR 2052b: 47.
    General description of report: These reports are authorized 
pursuant to section 5 of the Bank Holding Company Act (12 U.S.C. 1844), 
section 8 of the International Banking Act (12 U.S.C. 3106) and section 
165 of the Dodd Frank Act (12 U.S.C. 5365) and are mandatory. Section 
5(c) of the Bank Holding Company Act authorizes the Board to require 
BHCs to submit reports to the Board regarding their financial 
condition. Section 8(a) of the International Banking Act subjects FBOs 
to the provisions of the Bank Holding Company Act. Section 165 of the 
Dodd-Frank Act requires the Board to establish prudential standards for 
certain BHCs and FBOs; these standards include liquidity requirements. 
The individual financial institution information provided by each 
respondent would be accorded confidential treatment under exemption 8 
of the Freedom of Information Act (5 U.S.C. 552(b)(8)). In addition, 
the institution information provided by each respondent would not be 
otherwise available to the public and is entitled to confidential 
treatment under the authority of exemption 4 of the Freedom of 
Information Act (5 U.S.C. 552(b)(4)), which protects from disclosure 
trade secrets and commercial or financial information.
    Abstract: The FR 2052 reports are used to monitor the overall 
liquidity profile of institutions supervised by the Federal Reserve. 
These data provide detailed information on the liquidity risks within 
different business lines

[[Page 71418]]

(e.g., financing of securities positions, prime brokerage activities). 
In particular, these data serve as part of the Federal Reserve's 
supervisory surveillance program in its liquidity risk management area 
and provide timely information on firm-specific liquidity risks during 
periods of stress. Analysis of systemic and idiosyncratic liquidity 
risk issues are then used to inform the Federal Reserve's supervisory 
processes, including the preparation of analytical reports that detail 
funding vulnerabilities.
    Current actions: The Federal Reserve proposes to extend for three 
years, with revision, the Complex Institution Liquidity Monitoring 
Report (FR 2052a) and the Liquidity Monitoring Report (FR 2052b) (OMB 
No. 7100-0361) effective beginning March 31, 2015. The Federal Reserve 
proposes to revise the FR 2052a report by modifying the: (1) Respondent 
panel and threshold, (2) frequency of reporting, (3) reporting platform 
structure, and (4) data item granularity. The Federal Reserve proposes 
to revise the FR 2052b report by modifying the respondent panel 
threshold and frequency. The proposed revisions are described in detail 
below.
    The Federal Reserve proposes to revise the FR 2052a report to 
improve the effectiveness of its supervisory surveillance program. In 
general, the revisions would provide additional detail to facilitate a 
more sophisticated approach to monitoring liquidity risk. The proposed 
data elements are more detailed and would align with the Liquidity 
Coverage Ratio (LCR).\2\ For the most internationally active firms, 
liquidity profiles would be reported by currency for each material 
entity of the reporting institutions, which for BHCs may include sub-
divisions of the global banking entity by geographical region, and for 
FBOs would include material entities outside the U.S. that are managed 
from the U.S. These dimensions are important because dislocations in 
foreign exchange markets and restrictions limiting fund transfers can 
inhibit the ability of a global financial institution to convert its 
available sources of liquidity to meet its specific needs. The proposed 
data collection would collect more details regarding securities 
financing transactions, wholesale unsecured funding, deposits, loans, 
unfunded commitments, collateral, derivatives, and foreign exchange 
transactions. The greater level of detail surrounding these activities 
is necessary to ensure that supervised firms are adequately reserving 
for the risks based on current supervisory expectations and the Dodd-
Frank Act's Enhanced Prudential Standards. Furthermore, the Federal 
Reserve proposes to change the structure of the collection to an XML 
format from a spreadsheet format. This new structure is necessary to 
accommodate the additional granularity and implement the collection 
with leading data industry practices.
---------------------------------------------------------------------------

    \2\ 79 FR 61440 (October 10, 2014). Press Release is available 
at http://www.federalreserve.gov/newsevents/press/bcreg/20140903a.htm.
---------------------------------------------------------------------------

    The revisions to FR 2052a include a new hierarchy that subdivides 
the three general categories of inflows, outflows and supplemental 
items into 10 distinct data tables. These tables are designed to 
stratify the assets, liabilities and supplemental components of a 
firm's liquidity risk profile based on products that can be described 
with common data structures, while still maintaining a coherent 
framework for liquidity risk reporting.
    The internationally active reporting entities would report by major 
currency all data elements denominated in major currencies, while other 
data elements denominated in non-major currencies would be converted 
into United States Dollars (USDs) and flagged as converted. Reporting 
entities that are not internationally active would be able to report 
exclusively in USD by flagging data as converted. Reporting by major 
currency or flagging a conversion should help supervisors to identify 
potential currency mismatches. Additionally, data elements would be 
reported for each material legal entity, which are identified by the 
Federal Reserve for a given reporting entity. All entities that are 
required to comply with the LCR are considered material legal entities. 
This granularity in currency and material legal entity reporting would 
enhance monitoring of a firm's liquidity resources to ensure they are 
distributed according to specific needs, considering existing or 
potential regulatory or other limitations on inter-company liquidity 
transfers.
    The granularity of the data increased along numerous items of FR 
2052a. Maturity buckets increased to daily for the first 60 days to 
eliminate potential contractual maturity mismatches in the near term. 
There are now more categories of assets, largely delineated by the type 
of security or loan, the structuring of cash flows, and risk-based 
capital weightings. The list of counterparty types increased, along 
with the number of products requiring the counterparty to be reported, 
including loan cash flows, deposits, committed facilities, and certain 
unsecured borrowings.
    The proposed revisions would also draw more distinction between 
types of securities financing transactions such as collateral swaps, 
to-be-announced contracts, and the various methods of covering firm or 
customer short sales. Fields would be added for the amount of re-
hypothecation, collateralization, encumbrance, and methods of 
settlement. The report would provide information on the stock and flow 
of collateral received and posted for derivative transactions, as well 
as values of prime brokerage client assets and associated wire 
transfers. Together, these revisions to secured financing transactions 
would provide a more complete view of the firm's activities, especially 
brokerage activities, and certain liquidity risk characteristics, all 
of which were implicated during the recent financial crisis.
    Several new types of deposit accounts would also be added, such as 
escrow accounts and various categories of brokered deposits and sweeps. 
Balances that are ``fully insured'' would be identified, as well as 
balances that are subject to withdrawal in the event of a specific 
change or trigger.
    Certain elements would be added to capture risk associated with 
collateral. The potential requirements to post collateral in the event 
of an adverse move in the mark-to-market value of a firm's derivative 
portfolio or a change in a firm's financial condition is reported. 
Additionally, firms would report collateral balances that are 
contractually owed to a counterparty, but not yet called.
    Fields would be added to capture the settlement date cash flows in 
forward starting transactions. This revision would accommodate ``trade 
date'' reporting, which would allow for a more accurate representation 
of forward looking cash flows.
    The instructions for reporting the maturity date of a transaction 
would also be modified for short term (less than one year) liabilities 
with call options, as well as certain transactions reported in the 
Secured Inflows table where the collateral received was rehypothecated.
    Reporting of foreign exchange transactions, such as foreign 
exchange spot, forwards and futures, and swap transactions, would be 
required in order to complement the currency level reporting of cash 
flows.
    The proposed revisions to the FR 2052a report includes sections 
covering broad funding classifications by product, outstanding balance 
and purpose, segmented by maturity date. Generally, each section can be 
classified into one of the following categories:

[[Page 71419]]

     Section 1: Inflows-Assets: Institutions would report 
assets such as unencumbered assets, borrowing capacity from central 
banks or FHLBs, unrestricted reserve balances at central banks, 
restricted reserve balances at central banks, unsettled asset 
purchases, and forward asset purchases.
     Section 2: Inflows-Unsecured: Institutions would report 
unsecured inflow transactions such as onshore placement, offshore 
placements, required nostro balances, excess nostro balances, 
outstanding draws on revolving facilities, and other unsecured loans.
     Section 3: Inflows-Secured: Institutions would report 
secured inflow transactions such as reverse repurchase agreements, 
securities borrowing transactions, dollar rolls, collateral swaps, 
margin loans, other secured loans where the collateral is 
rehypothecatable, and other secured loans where the collateral is not 
rehypothecatable.
     Section 4: Inflows-Other: Institutions would report other 
inflow transactions such as derivatives receivables, collateral called 
for receipt, sales in the to-be-announced market, undrawn committed 
facilities purchased, lock-up balances, interest and dividends 
receivables, a net 30-day derivatives receivables measure, principal 
payments receivable on unencumbered investment securities, and other 
inflow transactions.
     Section 5: Outflows-Wholesale: Institutions would report 
wholesale outflow transactions such as asset-backed commercial paper 
single-seller outflows, asset-back commercial paper multi-seller 
outflows, collateralized commercial paper, asset-backed securities, 
covered bonds, tender option bonds, other asset-backed financing, 
commercial paper, onshore borrowing, offshore borrowing, unstructured 
long-term debt, structured long-term debt, government supported debt, 
unsecured notes, structured notes, wholesale certificates of deposit, 
draws on committed facilities, free credits, and other unsecured 
wholesale outflow transactions.
     Section 6: Outflows-Secured: Institutions would report 
secured outflow transactions such as repurchase agreements, securities 
lending transactions, dollar rolls, collateral swaps, FHLB Advances, 
outstanding secured funding from facilities at central banks, customer 
short transactions, firm short transactions, and other secured outflow 
transactions.
     Section 7: Outflows-Deposits: Institutions would report 
deposit outflow transactions such as transactional accounts, non-
transactional relationship accounts, non-transactional non-relationship 
accounts, operational accounts, non-operational accounts, operational 
escrow accounts, non-reciprocal brokered accounts, affiliated sweep 
accounts, non-affiliated sweeps accounts, other product sweep accounts, 
reciprocal accounts, other third-party deposits, and other deposit 
accounts.
     Section 8: Outflows-Other: Institutions would report other 
outflow transactions such as derivatives payables, collateral called 
for delivery, purchases in the to-be-announced market, credit 
facilities, liquidity facilities, retail mortgage commitments, trade 
finance instruments, potential derivative valuation changes, loss of 
rehypothecation rights and collateral required due to changes in 
financial condition, excess customer margin, commitments to lend on 
margin to customers, interest and dividends payables, a net 30-day 
derivatives payables measure, other outflows related to structured 
transactions, and other cash outflow transactions.
     Section 9: Supplemental-Informational: Institutions would 
report supplemental information such as initial margin posted and 
received, variation margin posted and received, collateral dispute 
receivables and deliverables, collateral that may need to be delivered, 
collateral that the institution could request to be received, 
collateral that could be substituted by the institution or a 
counterparty, long and short market value of client assets, gross 
client wires received and paid, subsidiary liquidity that cannot be 
transferred, 23A capacity, outflows or inflows from closing out hedges 
early, and potential outflows from non-structured or structured debt 
maturing beyond 30 days where the institution is the primary market 
maker in that debt.
     Section 10: Supplemental-Foreign Exchange: Institutions 
would report foreign exchange information such as foreign exchange 
spot, forwards and futures, and swap transactions.
    The Federal Reserve requests specific comment on the following:
     The proposal would require data retention of six months. 
Is six months appropriate or would another time period be more 
appropriate, such as three months or one year?
     Is the proposed maturity schedule provided in Appendix IV 
to the instructions appropriate for all respondents, such as those 
firms that are only subject to the Liquidity Coverage Ratio for Certain 
Bank Holding Companies? \3\ If not appropriate, what maturity schedule 
should apply to those respondents? Additionally, is the proposed 
maturity schedule provided in Appendix IV to the instructions 
appropriate for all listed products? If not, what maturity schedule 
should apply to those products?
---------------------------------------------------------------------------

    \3\ 79 FR 61440, 61540.
---------------------------------------------------------------------------

     Should a description of how the FR 2052a data will be used 
to monitor LCR compliance be published?

Proposed FR 2052b Revisions

    The Federal Reserve proposes to revise the FR 2052b reporting panel 
by eliminating the monthly reporting frequency. The U.S. BHCs 
(excluding G-SIBs) with total consolidated assets of $50 billion or 
more (including FBO subsidiaries) that currently file the monthly FR 
2052b report would move to the proposed FR 2052a monthly and daily 
reporting panel.

Proposed Reporting Panel and Frequency of Submissions \4\
---------------------------------------------------------------------------

    \4\ SLHCs that are not subject to the LCR are not subject to 
these reporting requirements, however, through future rulemakings 
these institutions may be required to participate in some form of 
liquidity monitoring.
---------------------------------------------------------------------------

    The proposed scope of application, frequency, and submission dates 
are contained in the following table.

----------------------------------------------------------------------------------------------------------------
                                                                                                       First
            Report No.               Reporter description         Frequency         First as-of     submission
                                                                                       date          date \5\
----------------------------------------------------------------------------------------------------------------
FR 2052a.........................  U.S. chartered firms      Monthly............  \6\ 03/31/2015      04/02/2015
                                    with total assets        Daily..............      07/01/2015      07/03/2015
                                    >=$700 billion or with
                                    assets under custody of
                                    >=$10 trillion.

[[Page 71420]]

 
FR 2052a.........................  U.S. chartered firms      Monthly............  \7\ 07/31/2015      08/02/2015
                                    with total assets <$700  Daily..............      07/01/2016      07/03/2016
                                    billion and with assets
                                    under custody of <$10
                                    trillion but, total
                                    assets >=$250 billion
                                    or foreign exposure
                                    >=$10 billion.
FR 2052a \8\.....................  U.S. chartered firms      Monthly............      01/31/2016      02/02/2016
                                    with total assets >=$50
                                    billion but, total
                                    assets <$250 billion
                                    and foreign exposure
                                    <$10 billion.
FR 2052a.........................  FBOs with U.S. assets     Monthly............      03/31/2015      04/02/2015
                                    >=$50 billion and U.S.   Daily..............      07/01/2015      07/03/2015
                                    broker-dealer assets
                                    >=$100 billion.
FR 2052a.........................  FBOs with U.S. assets     Monthly............      01/31/2016      02/02/2016
                                    >=$50 billion and U.S.   Monthly \9\........      07/31/2016      08/02/2016
                                    broker-dealer assets
                                    <$100 billion.
FR 2052b \10\....................  U.S. BHCs (not            Quarterly..........      12/31/2014      01/15/2015
                                    controlled by FBOs)
                                    with total consolidated
                                    assets of between $10
                                    billion and $50 billion.
----------------------------------------------------------------------------------------------------------------

     
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    \5\ For U.S. bank holidays and weekends, no positions should be 
reported. For data reported by entities in international locations, 
if there is a local bank holiday, submit data for those entities 
using the data from the previous business day.
    \6\ These firms must comply with the transitions set forth in 
the LCR, which requires an LCR calculation monthly starting in 
January 2015. However, these firms do not need to report on 2052a 
until this reporting as-of date.
    \7\ These firms must comply with the transitions set forth in 
the LCR, which requires an LCR calculation monthly starting in 
January 2015. However, these firms do not need to report on 2052a 
until this reporting as-of date.
    \8\ The frequency of the FR 2052a monthly report may be 
temporarily adjusted to daily on a case-by-case basis as market 
conditions and supervisory needs change to carry out effective 
continuous liquidity monitoring. The Federal Reserve anticipates 
frequency adjustments to be a rare occurrence.
    \9\ These FBOs would be required to have the ability to report 
on each business day. If the FBO consolidates a U.S. chartered firm 
that would independently have to report daily, then the FBO must 
report daily. The Federal Reserve would test these FBOs for their 
ability to report daily.
    \10\ FR 2052b will not change for U.S. BHCs (not controlled by 
FBOs) with total consolidated assets of between $10 billion and $50 
billion, so the frequency and as-of date will be the same as it is 
currently.
---------------------------------------------------------------------------

    The parent company for those firms with less than $250 billion in 
total consolidated assets and with less than $10 billion of on-balance 
sheet foreign exposure would submit data for the following entities: 
The global consolidated entity and the parent only (ignoring 
consolidated subsidiaries). Respondents should consult their 
supervisory teams to determine if the parent company should also 
separately report any consolidated banks or non-banks that are material 
contributors to the firm's funding and liquidity operations.
    The parent company for those firms with $250 billion or more in 
total consolidated assets or $10 billion or more of on-balance sheet 
foreign exposure would submit data for the following entities: The 
global consolidated entity, the parent only (ignoring consolidated 
subsidiaries), and, separately, each consolidated bank and non-bank 
entity that is a material contributor to the firm's funding and 
liquidity operations. For these firms, all bank entities with total 
consolidated assets of $10 billion or more would be considered material 
legal entities. Respondents should consult their supervisory teams to 
determine other material legal entities that should also be reported.
    FBOs with U.S. assets of $50 billion or more would report for their 
consolidated U.S. assets, as well as for all material entities managed 
within the U.S. For FBOs that own U.S. entities subject to the LCR, 
material entities include at least those entities subject to the LCR. 
Respondents should consult their supervisory teams to determine other 
material entities that should also be reported.
    Some firms that are currently filing on FR 2052b would be required 
to file on the updated 2052a, pursuant to the proposed schedule set 
forth in the transition table. The firms currently filing on FR 2052b 
would cease filing the 2052b once they begin filing the updated 2052a.
    Firms currently filing the FR 2052a would be required to file the 
updated 2052a, pursuant to the proposed schedule set forth in the 
transition table. The firms currently filing on FR 2052a would cease 
filing on the current 2052a once they are filing daily on the updated 
2052a.
    Additionally, there are some firms that are not currently filing 
either the 2052a or 2052b, but would be required to file the updated 
2052a, pursuant to the proposed schedule set forth in the transition 
table. Among these companies are SLHCs that are subject to the LCR and 
nonbank financial companies that the Financial Stability Oversight 
Council has determined under section 113 of the Dodd-Frank Act (12 
U.S.C. 5323) shall be supervised by the Board and for which such 
determination is still in effect, where the Board has applied the 
requirements of the LCR to such company by rule or order.
    The Board consulted outside the Federal Reserve System with other 
U.S. regulatory authorities including the Office of the Comptroller of 
the Currency and Federal Deposit Insurance Corporation in the 
development of FR 2052a. In addition, data sharing agreements will be 
constituted with other U.S. regulatory agencies with supervisory 
responsibilities over subject institutions to monitor compliance with 
the LCR and to ensure there are no redundant data collections. Also, 
the Federal Reserve has held general discussions with financial 
institutions regarding the proposed revisions.

    Board of Governors of the Federal Reserve System, November 26, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-28351 Filed 12-1-14; 8:45 am]
BILLING CODE 6210-01-P