Agency Information Collection Activities; Announcement of Board Approval Under Delegated Authority and Submission to OMB, 22685-22687 [2018-10410]

Download as PDF sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 83, No. 95 / Wednesday, May 16, 2018 / Notices district, which are also its primary customers. The Bank Act vests the management of each Bank in a board of directors that consists of two types of directors: (1) Member directors, who are drawn from the officers and directors of member institutions located in the Bank’s district and who are elected to represent members in a particular state in that district; and (2) independent directors, who are unaffiliated with any of the Bank’s member institutions, but who reside in the Bank’s district and are elected on an at-large basis.1 The Office of Finance is also governed by a board of directors, which consists of the presidents of the eleven Banks and five independent directors.2 Section 1319A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) requires that each of the Banks establish an Office of Minority and Women Inclusion (OMWI) to be responsible for all matters relating to diversity in its management, employment, and business activities, in accordance with requirements established by FHFA.3 Section 1319A also requires that each Bank implement standards and procedures to ensure, to the maximum extent possible, the inclusion and utilization of women and minorities ‘‘at all levels’’ of its business and activities, and submit an annual report to FHFA detailing actions taken to achieve those goals.4 FHFA’s MWI regulations implement those statutory requirements and also extend the requirements to the Office of Finance. The regulations require generally that each Bank and the Office of Finance ‘‘develop, implement, and maintain policies and procedures to ensure, to the maximum extent possible in balance with financially safe and sound business practices, the inclusion and utilization of minorities, women, individuals with disabilities, and minority-, women-, and disabled-owned businesses in all business and activities and at all levels of the regulated entity, including in management, employment, procurement, insurance, and all types of contracts.’’ 5 In recognition of the fact that each Bank is required by statute to promote diversity and inclusion ‘‘at all levels’’ of its business and activities, the MWI regulations further require that the Banks’ policies and procedures (as well as those of the Office of Finance) ‘‘[e]ncourage the consideration of diversity in nominating or soliciting nominees for positions on boards of directors and engage in recruiting and outreach directed at encouraging individuals who are minorities, women and individuals with disabilities to seek or apply for employment with the regulated entity.’’ 6 In conformity with the statutory requirements, FHFA’s MWI regulations require that each Bank and the Office of Finance submit to FHFA an annual report describing, among other things, its efforts to promote diversity at all levels of management and employment, and the results of those efforts.7 In order to provide a quantitative basis upon which to assess the results of those efforts, FHFA’s regulations require that each Bank and the Office of Finance set forth in in their respective annual reports the demographic data reported on the EEO–1 form, which they are required to file annually with the Equal Employment Opportunity Commission (EEOC).8 The EEO–1 form requires that each respondent provide race, ethnicity and gender information for its employees, broken down into various job categories. Because the EEO–1 form does not require that a respondent provide information on board directors, FHFA cannot use the EEO–1 data to assess the effectiveness of the Bank System’s efforts to ‘‘encourage the consideration of diversity in nominating or soliciting nominees for positions on boards of directors.’’ Therefore, in order to enable FHFA to assess those efforts, the MWI regulations separately require that the annual reports set forth ‘‘[d]ata showing for the reporting year by minority and gender classification, the number of individuals on the board of directors of each Bank and the Office of Finance,’’ using the same racial and ethnic classifications that are used on the EEO–1 form (which comply with OMB’s ‘‘Statistical Policy Directive No. 15, Race and Ethnic Standards for Federal Statistics and Administrative Reporting’’).9 The regulation requires that each Bank and the Office of Finance collect that data ‘‘through an information collection requesting each director’s voluntary self-identification of his or her minority and gender classification without personally identifiable information.’’ FHFA uses the information collected under this control number to assess the effectiveness of the policies and procedures that each Bank and the 6 See 12 CFR 1223.21(b)(7). 12 CFR 1223.22(a). 8 See 12 CFR 1223.23(b)(1). As required by 29 CFR 1602.7, each Bank and the Office of Finance annually files an EEO–1 form with the EEOC. 9 See 12 CFR 1223.23(b)(10)(i). 1 See 12 U.S.C. 1427(a)(1), (b), (d). 2 See 12 CFR 1273.7(a). 3 See 12 U.S.C. 4520(a). 4 See 12 U.S.C. 4520(b), (d). 5 See 12 CFR 1223.21(b). VerDate Sep<11>2014 17:34 May 15, 2018 7 See Jkt 244001 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 22685 Office of Finance is required to implement to promote diversity in all of its business and activities ‘‘at all levels’’ and, specifically, to encourage diversity in the nomination and solicitation of nominees for members of its boards of directors. FHFA also uses the information to establish a baseline to analyze future trends related to the diversity of the boards of directors of the Banks and the Office of Finance and to assess the effectiveness of the strategies developed by the Banks and the Office of Finance for promoting, developing, and retaining diverse board talent. B. Burden Estimate FHFA estimates the total annual hour burden imposed upon respondents by this information collection to be 20 hours. This is based on estimates that 200 Bank and Office of Finance Directors will respond annually, with each response taking an average of 0.1 hours (6 minutes) (200 respondents × 0.1 hours = 20 hours). C. Comments Request FHFA requests written comments on the following: (1) Whether the collection of information is necessary for the proper performance of FHFA functions, including whether the information has practical utility; (2) the accuracy of FHFA’s estimates of the burdens of the collection of information; (3) ways to enhance the quality, utility, and clarity of the information collected; and (4) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Dated: May 10, 2018. Kevin Winkler, Chief Information Officer, Federal Housing Finance Agency. [FR Doc. 2018–10431 Filed 5–15–18; 8:45 am] BILLING CODE 8070–01–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: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Registration Statement for Persons Who Extend Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers) (FR G– 1), the Deregistration Statement for Persons Registered Pursuant to AGENCY: E:\FR\FM\16MYN1.SGM 16MYN1 sradovich on DSK3GMQ082PROD with NOTICES 22686 Federal Register / Vol. 83, No. 95 / Wednesday, May 16, 2018 / Notices Regulation U (FR G–2), and the Annual Report (FR G–4), and to extend for three years, without revision, the Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U (FR G–3), the Statement of Purpose for an Extension of Credit by a Creditor (FR T–4), and the Statement of Purpose for an Extension of Credit Secured by Margin Stock (FR U–1). These six data collections are collectively known as the Margin Credit Reports. The revisions will be applicable as of July 1, 2018, instead of April 1, 2018, as proposed. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, 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 or by fax to (202) 395–6974. SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. 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. Final approval under OMB delegated authority of the extension for three years, with revision, of the FR G–1, FR G–2, and FR G–4 reports, as well as extension for three years, without revision, of the FR G–3, FR T–4, and FR U–1: 1. Report title: Registration Statement for Persons Who Extend Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers); Deregistration VerDate Sep<11>2014 17:34 May 15, 2018 Jkt 244001 Statement for Persons Registered Pursuant to Regulation U; Annual Report. Agency form number: FR G–1; FR G– 2; FR G–4. OMB control number: 7100–0011. Effective date: July 1, 2018. Frequency: FR G–1 and FR G–2, On occasion; FR G–4, annually. Estimated number of respondents: 89. Estimated average hours per response: FR G–1, 2.5; FR G–2, 0.25; FR G–4, 2. Estimated annual burden hours: 160. General description of report: The registration statement (FR G–1) is required to enable the Federal Reserve to identify nonbank lenders subject to the Board’s Regulation U, to verify compliance with the regulation, and to monitor margin credit. In addition, registered nonbank lenders can be subject to periodic review by the Board, the National Credit Union Administration, and the Farm Credit Administration. The deregistration statement (FR G–2) is used by nonbank lenders to terminate its registration if their margin credit activities no longer exceed the regulatory threshold found in Regulation U. Under section 221.3(b)(2) of Regulation U, a registered nonbank lender may apply to terminate its registration if the lender has not, during the preceding six calendar months, had more than $200,000 of such credit outstanding. The information submitted on the annual report (FR G–4) is required pursuant to Regulation U to enable the Federal Reserve to monitor the amount of credit extended by nonbank lenders that is secured by margin stock. 2. Report title: Statement of Purpose for an Extension of Credit Secured by Margin Stock by a Person Subject to Registration Under Regulation U; Statement of Purpose for an Extension of Credit by a Creditor; Statement of Purpose for an Extension of Credit Secured by Margin Stock. Agency form number: FR G–3; FR T– 4; FR U–1. OMB control number: 7100–0018; 7100–0019; 7100–0115. Effective date: July 1, 2018. Frequency: On occasion. Estimated number of respondents: FR G–3, 6; FR T–4, 4; FR U–1, 4. Estimated average hours per response: FR G–3, 0.17; FR T–4, 0.17; FR U–1, 0.17. Estimated annual burden hours: FR G–3, 20; FR T–4, 14; FR U–1, 51. General description of reports: The FR G–3, FR T–4, and FR U–1 purpose statements, which are completed by the borrower and the lender (brokers and dealers, in the case of the FR T–4), PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 consist of three parts. The borrower completes Part I of the reporting form and is required to do the following: State the amount of the loan and whether the purpose of the loan is to purchase, carry, or trade in securities (pursuant to the Board’s Regulation T) or purchase or carry margin stock (pursuant to Regulation U) and, if not, describe the specific purpose of the loan. FR T–4 respondents must also answer a question as to whether the securities serving as collateral will be delivered against payment. The borrower must sign and date the reporting form. The lender completes Part II, which may entail listing and valuing any collateral. The lender then signs and dates Part III of the reporting form, acknowledging that the customer’s statement is accepted in good faith. The lender is required to hold the reporting forms for at least three years after the credit is extinguished. The Federal Reserve System does not collect or process this information, but the information required on the form may be reviewed by Federal Reserve examiners to assess compliance with the Securities Exchange Act of 1934 (the Act) and Regulation T. Legal authorization and confidentiality: These reports are authorized by section 7 of the Act (15 U.S.C. 78g). In addition, the FR T–4 is required by section 220.6 of Regulation T (12 CFR 220.6), the FR U–1 is required by sections 221.3(c)(1)(i) and (2)(i) of Regulation U (12 CFR 221.3(c)(1)(i) and (2)(i)), and the FR G–1, FR G–2, FR G– 3, and FR G–4 are required by sections 221.3(b)(1), (2), and (3), and (c)(1)(ii) and (2)(ii) of Regulation U (12 CFR 221.3(b)(1), (2), and (3), and (c)(1)(ii) and (2)(ii)). The FR G–1 and FR G–4 collect financial information, including a balance sheet, from nonbank lenders subject to Regulation U. Some of these lenders may be individuals or nonbank entities that do not make this information publicly available; release could therefore cause substantial harm to the competitive position of the respondent or result in an unwarranted invasion of personal privacy. In those cases, the information could be withheld under exemption 4 or exemption 6 of the Freedom of Information Act (5 U.S.C. 552(b)(4) and (6)), respectively. Confidentiality determinations will be made on a caseby-case basis. Because the FR G–3, FR T–4, and FR U–1 are not submitted to the Federal Reserve System and FR G– 2 does not contain any information considered to be confidential, no confidentiality determination is necessary for these reports. E:\FR\FM\16MYN1.SGM 16MYN1 Federal Register / Vol. 83, No. 95 / Wednesday, May 16, 2018 / Notices Current actions: On January 23, 2018, the Board published a notice in the Federal Register (83 FR 3146) requesting public comment for 60 days on the extension, with revision, of the FR G–1, FR G–2, and FR G–4, as well as the extension, without revision, of the FR G–3, FR T–4, and FR U–1. The Board proposed to revise the instructions for the FR G–1, FR G–2, and FR G–4 to require respondents to submit Portable Document Format (PDF) versions of the reporting forms and attachments to a designated Federal Reserve Board email address. The Board also proposed to consolidate all six Margin Credit Reports under one OMB control number, 7100–0011, which currently only includes the FR G–1, FR G–2, and FR G–4. The comment period expired on March 26, 2018. The Board did not receive any comments. Accordingly, the revisions will be implemented as proposed; provided that, the effective date of the revisions will be July 1, 2018, rather than April 1, 2018, as proposed. Board of Governors of the Federal Reserve System, May 11, 2018. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2018–10410 Filed 5–15–18; 8:45 am] BILLING CODE 6210–01–P Retained Annuity Trust #2, with William C. Martin as trustee, all of Ann Arbor, Michigan; to join the Martin Family Control Group approved on December 15, 2017, and acquire voting shares of Arbor Bancorp, Inc., and thereby indirectly acquire voting shares of Bank of Ann Arbor, both of Ann Arbor, Michigan. Board of Governors of the Federal Reserve System, May 11, 2018. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2018–10438 Filed 5–15–18; 8:45 am] BILLING CODE P DEPARTMENT OF DEFENSE GENERAL SERVICES ADMINISTRATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [OMB Control No. 9000–0035; Docket No. 2018–0003; Sequence No. 7] Information Collection; Claims and Appeals Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). AGENCIES: ACTION: Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company sradovich on DSK3GMQ082PROD with NOTICES FEDERAL RESERVE SYSTEM SUMMARY: Notice of request for public comments regarding an extension to an existing OMB clearance. 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 the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than May 31, 2018. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. The William C. Martin 2018 Grantor Retained Annuity Trust #1, with William C. Martin as trustee, and the William C. Martin 2018 Grantor VerDate Sep<11>2014 17:34 May 15, 2018 Jkt 244001 Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division will be submitting to the Office of Management and Budget (OMB) a request to review and approve an extension of a previously approved information collection requirement concerning claims and appeals. DATES: Submit comments on or before July 16, 2018. ADDRESSES: Submit comments identified by Information Collection 9000–0035, Claims and Appeals, by any of the following methods: • Regulations.gov: http:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link ‘‘Submit a Comment’’ that corresponds with ‘‘Information Collection 9000– 0035, Claims and Appeals’’. Follow the instructions provided at the ‘‘Submit a Comment’’ screen. Please include your name, company name (if any), and ‘‘Information Collection 9000–0035, Claims and Appeals’’ on your attached document. PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 22687 • Mail: General Services Administration, Regulatory Secretariat Division (MVCB), 1800 F Street NW, Washington, DC 20405. ATTN: Ms. Mandell/IC 9000–0035, Claims and Appeals. Instructions: Please submit comments only and cite Information Collection 9000–0035, Claims and Appeals, in all correspondence related to this collection. Comments received generally will be posted without change to http:// www.regulations.gov, including any personal and/or business confidential information provided. To confirm receipt of your comment(s), please check http://www.regulations.gov, approximately two to three days after submission to verify posting (except allow 30 days for posting of comments submitted by mail). FOR FURTHER INFORMATION CONTACT: Mr. Charles Gray, Procurement Analyst, Federal Acquisition Policy Division, GSA, 703–795–6328 or via email at charles.gray@gsa.gov. SUPPLEMENTARY INFORMATION: A. Purpose It is the Government’s policy to try to resolve all contractual issues by mutual agreement at the contracting officer’s level without litigation. Reasonable efforts should be made to resolve controversies prior to submission of a contractor’s claim. The Contract Disputes Act of 1978 (41 U.S.C. 7103) requires that claims exceeding $100,000 must be accompanied by a certification that (1) the claim is made in good faith; (2) supporting data are accurate and complete; and (3) the amount requested accurately reflects the contract adjustment for which the contractor believes the Government is liable. The information, as required by FAR clause 52.233–1, Disputes, is used by a contracting officer to decide or resolve the claim. Contractors may appeal the contracting officer’s decision by submitting written appeals to the appropriate officials. B. Annual Reporting Burden Respondents: 4,500. Responses per Respondent: 3. Annual Responses: 13,500. Hours Per Response: 1. Total Burden Hours: 13,500. C. Public Comments Public comments are particularly invited on: Whether this collection of information is necessary for the proper performance of functions of the FAR, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on E:\FR\FM\16MYN1.SGM 16MYN1

Agencies

[Federal Register Volume 83, Number 95 (Wednesday, May 16, 2018)]
[Notices]
[Pages 22685-22687]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10410]


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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: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
Registration Statement for Persons Who Extend Credit Secured by Margin 
Stock (Other Than Banks, Brokers, or Dealers) (FR G-1), the 
Deregistration Statement for Persons Registered Pursuant to

[[Page 22686]]

Regulation U (FR G-2), and the Annual Report (FR G-4), and to extend 
for three years, without revision, the Statement of Purpose for an 
Extension of Credit Secured by Margin Stock by a Person Subject to 
Registration Under Regulation U (FR G-3), the Statement of Purpose for 
an Extension of Credit by a Creditor (FR T-4), and the Statement of 
Purpose for an Extension of Credit Secured by Margin Stock (FR U-1). 
These six data collections are collectively known as the Margin Credit 
Reports. The revisions will be applicable as of July 1, 2018, instead 
of April 1, 2018, as proposed.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, 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 or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. 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.
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the FR G-1, FR G-2, and FR G-4 reports, 
as well as extension for three years, without revision, of the FR G-3, 
FR T-4, and FR U-1:
    1. Report title: Registration Statement for Persons Who Extend 
Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers); 
Deregistration Statement for Persons Registered Pursuant to Regulation 
U; Annual Report.
    Agency form number: FR G-1; FR G-2; FR G-4.
    OMB control number: 7100-0011.
    Effective date: July 1, 2018.
    Frequency: FR G-1 and FR G-2, On occasion; FR G-4, annually.
    Estimated number of respondents: 89.
    Estimated average hours per response: FR G-1, 2.5; FR G-2, 0.25; FR 
G-4, 2.
    Estimated annual burden hours: 160.
    General description of report: The registration statement (FR G-1) 
is required to enable the Federal Reserve to identify nonbank lenders 
subject to the Board's Regulation U, to verify compliance with the 
regulation, and to monitor margin credit. In addition, registered 
nonbank lenders can be subject to periodic review by the Board, the 
National Credit Union Administration, and the Farm Credit 
Administration.
    The deregistration statement (FR G-2) is used by nonbank lenders to 
terminate its registration if their margin credit activities no longer 
exceed the regulatory threshold found in Regulation U. Under section 
221.3(b)(2) of Regulation U, a registered nonbank lender may apply to 
terminate its registration if the lender has not, during the preceding 
six calendar months, had more than $200,000 of such credit outstanding.
    The information submitted on the annual report (FR G-4) is required 
pursuant to Regulation U to enable the Federal Reserve to monitor the 
amount of credit extended by nonbank lenders that is secured by margin 
stock.
    2. Report title: Statement of Purpose for an Extension of Credit 
Secured by Margin Stock by a Person Subject to Registration Under 
Regulation U; Statement of Purpose for an Extension of Credit by a 
Creditor; Statement of Purpose for an Extension of Credit Secured by 
Margin Stock.
    Agency form number: FR G-3; FR T-4; FR U-1.
    OMB control number: 7100-0018; 7100-0019; 7100-0115.
    Effective date: July 1, 2018.
    Frequency: On occasion.
    Estimated number of respondents: FR G-3, 6; FR T-4, 4; FR U-1, 4.
    Estimated average hours per response: FR G-3, 0.17; FR T-4, 0.17; 
FR U-1, 0.17.
    Estimated annual burden hours: FR G-3, 20; FR T-4, 14; FR U-1, 51.
    General description of reports: The FR G-3, FR T-4, and FR U-1 
purpose statements, which are completed by the borrower and the lender 
(brokers and dealers, in the case of the FR T-4), consist of three 
parts. The borrower completes Part I of the reporting form and is 
required to do the following: State the amount of the loan and whether 
the purpose of the loan is to purchase, carry, or trade in securities 
(pursuant to the Board's Regulation T) or purchase or carry margin 
stock (pursuant to Regulation U) and, if not, describe the specific 
purpose of the loan. FR T-4 respondents must also answer a question as 
to whether the securities serving as collateral will be delivered 
against payment. The borrower must sign and date the reporting form. 
The lender completes Part II, which may entail listing and valuing any 
collateral. The lender then signs and dates Part III of the reporting 
form, acknowledging that the customer's statement is accepted in good 
faith. The lender is required to hold the reporting forms for at least 
three years after the credit is extinguished. The Federal Reserve 
System does not collect or process this information, but the 
information required on the form may be reviewed by Federal Reserve 
examiners to assess compliance with the Securities Exchange Act of 1934 
(the Act) and Regulation T.
    Legal authorization and confidentiality: These reports are 
authorized by section 7 of the Act (15 U.S.C. 78g). In addition, the FR 
T-4 is required by section 220.6 of Regulation T (12 CFR 220.6), the FR 
U-1 is required by sections 221.3(c)(1)(i) and (2)(i) of Regulation U 
(12 CFR 221.3(c)(1)(i) and (2)(i)), and the FR G-1, FR G-2, FR G-3, and 
FR G-4 are required by sections 221.3(b)(1), (2), and (3), and 
(c)(1)(ii) and (2)(ii) of Regulation U (12 CFR 221.3(b)(1), (2), and 
(3), and (c)(1)(ii) and (2)(ii)).
    The FR G-1 and FR G-4 collect financial information, including a 
balance sheet, from nonbank lenders subject to Regulation U. Some of 
these lenders may be individuals or nonbank entities that do not make 
this information publicly available; release could therefore cause 
substantial harm to the competitive position of the respondent or 
result in an unwarranted invasion of personal privacy. In those cases, 
the information could be withheld under exemption 4 or exemption 6 of 
the Freedom of Information Act (5 U.S.C. 552(b)(4) and (6)), 
respectively. Confidentiality determinations will be made on a case-by-
case basis. Because the FR G-3, FR T-4, and FR U-1 are not submitted to 
the Federal Reserve System and FR G-2 does not contain any information 
considered to be confidential, no confidentiality determination is 
necessary for these reports.

[[Page 22687]]

    Current actions: On January 23, 2018, the Board published a notice 
in the Federal Register (83 FR 3146) requesting public comment for 60 
days on the extension, with revision, of the FR G-1, FR G-2, and FR G-
4, as well as the extension, without revision, of the FR G-3, FR T-4, 
and FR U-1. The Board proposed to revise the instructions for the FR G-
1, FR G-2, and FR G-4 to require respondents to submit Portable 
Document Format (PDF) versions of the reporting forms and attachments 
to a designated Federal Reserve Board email address. The Board also 
proposed to consolidate all six Margin Credit Reports under one OMB 
control number, 7100-0011, which currently only includes the FR G-1, FR 
G-2, and FR G-4. The comment period expired on March 26, 2018. The 
Board did not receive any comments. Accordingly, the revisions will be 
implemented as proposed; provided that, the effective date of the 
revisions will be July 1, 2018, rather than April 1, 2018, as proposed.

    Board of Governors of the Federal Reserve System, May 11, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10410 Filed 5-15-18; 8:45 am]
 BILLING CODE 6210-01-P