Proposed Agency Information Collection Activities; Comment Request, 39093-39095 [2018-16917]
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Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
on the extension, with revision, of these
reports. The Board is adopting revisions
to the FR Y–11, FR 2314, and FR Y–7N
report forms and instructions that are
consistent with certain recent changes
to the FR Y–9 family of reports (OMB
No. 7100–0128)1 and the Federal
Financial Institutions Examination
Council (FFIEC) Consolidated Reports of
Condition and Income (Call Reports)
(FFIEC 031, 041, and 051; OMB No.
7100–0036).2 Specifically, the changes
(1) add a new data item to the balance
sheet to separate and reclassify equity
securities with readily determinable fair
values not held for trading from the
‘‘available for sale’’ category in
accordance with Financial Accounting
Standards Board’s (FASB) Accounting
Standards Update (ASU) No. 2016–01,
‘‘Recognition and Measurement of
Financial Assets and Financial
Liabilities;’’ and (2) add new data items
to the income statement to reflect the
proper reporting of income associated
with these securities. These revisions
are effective for reports reflecting the
June 30, 2018, report date. The comment
period for this notice expired on July 2,
2018, and the Board did not receive any
comments.
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 Board 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.
Board of Governors of the Federal Reserve
System, August 2, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Report
Report title: Senior Financial Officer
Survey.
Agency form number: FR 2023.
OMB control number: 7100–0223.
Frequency: Up to four times a year.
Respondents: Domestically chartered
large commercial banks.
Estimated number of respondents: 80.
Estimated average hours per response:
3 hours.
Estimated annual burden hours: 960
hours.
General description of report: The
Board uses the surveys in this collection
to gather qualitative and limited
quantitative information about liability
management, the provision of financial
services, and the functioning of key
financial markets. Responses are
obtained from a senior officer at each
participating institution usually through
an electronic submission. Although a
survey may not be collected in a given
year, the Board may conduct up to four
surveys per year when informational
needs arise and cannot be met from
existing data sources. The survey does
not have a fixed set of questions; each
survey consists of a limited number of
questions directed at topics of timely
interest.
Legal authorization and
confidentiality: The FR 2023 is a
[FR Doc. 2018–16916 Filed 8–7–18; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, without revision, the Senior
Financial Officer Survey (FR 2023; OMB
No. 7100–0223).
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.
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AGENCY:
1 See
2 See
83 FR 12395 (March 21, 2018).
83 FR 939 (January 08, 2018).
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39093
voluntary survey. Section 2A of the
Federal Reserve Act (FRA) requires that
the Board and the Federal Open Market
Committee (FOMC) maintain long-run
growth of the monetary and credit
aggregates commensurate with the
economy’s long run potential to increase
production, so as to promote effectively
the goals of maximum employment,
stable prices, and moderate long-term
interest rates (12 U.S.C. 225a). In
addition, under section 12A of the FRA,
the FOMC is required to implement
regulations relating to the open market
operations conducted by Federal
Reserve Banks. Those transactions must
be governed with a view to
accommodating commerce and business
and with regard to their bearing upon
the general credit situation of the
country (12 U.S.C. 263). The Board and
the FOMC use the information obtained
from the FR 2023 to help fulfill these
obligations.
The questions asked on each survey
will vary, so the ability of the Board to
maintain the confidentiality of
information collected must be
determined on a case by case basis. It is
likely that much of the information
collected would constitute confidential
financial information obtained from a
person and would thus be protected
from disclosure under exemption 4 to
the Freedom of Information Act (FOIA)
(5 U.S.C. 552(b)(4)). Exemption 8 of the
FOIA, which protects information
related to examination, operating, or
condition reports prepared for the use of
an agency supervising financial
institutions, may also occasionally
apply (5 U.S.C. 552(b)(8)).
Current actions: On May 15, 2018, the
Board published a notice in the Federal
Register (83 FR 22488) requesting
public comment for 60 days on the
extension, without revision, of the
Board’s clearance for the Senior
Financial Officer Survey. The comment
period for this notice expired on July 16,
2018. The Board did not receive any
comments.
Board of Governors of the Federal Reserve
System, August, 2, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018–16918 Filed 8–7–18; 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:
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39094
ACTION:
Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
Notice, request for comment.
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to revise,
without extension, Capital Assessments
and Stress Testing (FR Y–14A/Q/M;
OMB No. 7100–0341).
DATES: Comments must be submitted on
or before October 9, 2018.
ADDRESSES: You may submit comments,
identified by FR Y–14A, FR Y–14Q, or
FR Y–14M, by any of the following
methods:
• Agency website: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include OMB
number in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, 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 website at https://
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 3515, 1801 K Street
NW (between 18th and 19th Streets
NW), Washington, DC 20006 between
9:00 a.m. and 5:00 p.m. on weekdays.
For security reasons, the Board requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 452–3684. Upon arrival,
visitors will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
Additionally, commenters may send a
copy of their comments to the OMB
Desk Officer—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, if
approved. These documents will also be
made available on the Federal Reserve
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SUMMARY:
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Board’s public website at: https://
www.federalreserve.gov/apps/
reportforms/review.aspx or may be
requested from the agency clearance
officer, whose name appears below.
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.
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 and
assign OMB control numbers to
collection of information requests and
requirements conducted or sponsored
by the Board. In exercising this
delegated authority, the Board is
directed to take every reasonable step to
solicit comment. In determining
whether to approve a collection of
information, the Board will consider all
comments received from the public and
other agencies.
Request for Comment on Information
Collection Proposal
The Board invites public comment on
the following information collection,
which is being reviewed under
authority delegated by the OMB under
the PRA. 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 startup costs
and costs of operation, maintenance,
and purchase of services to provide
information.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the Federal Reserve
should modify the proposal.
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Proposal To Approve Under OMB
Delegated Authority the Revision,
Without Extension, of the Following
Report
Report title: Capital Assessments and
Stress Testing.
Agency form number: FR Y–14A/Q/M.
OMB control number: 7100–0341.
Frequency: Annually, semi-annually,
quarterly, and monthly.
Respondents: The respondent panel
consists of any top-tier bank holding
company (BHC) that has $100 billion or
more in total consolidated assets, as
determined based on: (i) The average of
the firm’s total consolidated assets in
the four most recent quarters as reported
quarterly on the firm’s FR Y–9C; or (ii)
the average of the firm’s total
consolidated assets in the most recent
consecutive quarters as reported
quarterly on the firm’s FR Y–9Cs, if the
firm has not filed an FR Y–9C for each
of the most recent four quarters. The
respondent panel also consists of any
U.S. intermediate holding company
(IHC). Reporting is required as of the
first day of the quarter immediately
following the quarter in which the
respondent meets this asset threshold,
unless otherwise directed by the Board.
Number of respondents: 36.
Estimated annual reporting hours: FR
Y–14A: Summary, 63,864 hours; Macro
Scenario, 2,232 hours; Operational Risk,
648 hours; Regulatory Capital
Instruments, 756 hours; Business Plan
Changes, 576 hours; and Adjusted
Capital Plan Submission, 500 hours. FR
Y–14Q: Retail, 2,160 hours; Securities,
1,872 hours; Pre-Provision Net Revenue
(PPNR), 102,385 hours; Wholesale,
21,744 hours; Trading, 92,448 hours;
Regulatory Capital Transitions, 3,312
hours; Regulatory Capital Instruments,
7,776 hours; Operational risk, 7,200
hours; Mortgage Servicing Rights (MSR)
Valuation, 1,380 hours; Supplemental,
576 hours; Retail Fair Value Option/
Held for Sale (Retail FVO/HFS), 1,500
hours; Counterparty, 24,672 hours; and
Balances, 2,304 hours. FR Y–14M: 1st
Lien Mortgage, 210,528 hours; Home
Equity, 173,376 hours; and Credit Card,
86,016 hours. FR Y–14 On-going
Automation Revisions, 17,280 hours. FR
Y–14 Attestation On-going Audit and
Review, 33,280 hours.
Estimated average hours per response:
FR Y–14A: Summary, 887 hours; Macro
Scenario, 31 hours; Operational Risk, 18
hours; Regulatory Capital Instruments,
21 hours; Business Plan Changes, 16
hours; and Adjusted Capital Plan
Submission, 100 hours. FR Y–14Q:
Retail, 15 hours; Securities, 13 hours;
PPNR, 711 hours; Wholesale, 151 hours;
Trading, 1,926 hours; Regulatory Capital
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Federal Register / Vol. 83, No. 153 / Wednesday, August 8, 2018 / Notices
Transitions, 23 hours; Regulatory
Capital Instruments, 54 hours;
Operational Risk, 50 hours; MSR
Valuation, 23 hours; Supplemental, 4
hours; Retail FVO/HFS, 15 hours;
Counterparty, 514 hours; and Balances,
16 hours. FR Y–14M: 1st Lien Mortgage,
516 hours; Home Equity, 516 hours; and
Credit Card, 512 hours. FR Y–14 Ongoing Automation Revisions, 480 hours.
FR Y–14 Attestation On-going Audit
and Review, 2,560 hours.
General description of report: These
collections of information are applicable
to top-tier BHCs with total consolidated
assets of $100 billion or more and U.S.
IHCs. This family of information
collections is composed of the following
three reports:
• The FR Y–14A collects quantitative
projections of balance sheet, income,
losses, and capital across a range of
macroeconomic scenarios and
qualitative information on
methodologies used to develop internal
projections of capital across scenarios
either annually or semi-annually.
• The quarterly FR Y–14Q collects
granular data on various asset classes,
including loans, securities, and trading
assets, and PPNR for the reporting
period.
• The monthly FR Y–14M is
comprised of three retail portfolio- and
loan-level schedules, and one detailed
address-matching schedule to
supplement two of the portfolio and
loan-level schedules.
The data collected through the FR
Y–14A/Q/M reports provide the Board
with the information and perspective
needed to help ensure that large firms
have strong, firm-wide risk
measurement and management
processes supporting their internal
assessments of capital adequacy and
that their capital resources are sufficient
given their business focus, activities,
and resulting risk exposures. The
annual Comprehensive Capital Analysis
and Review (CCAR) exercise
complements other Board supervisory
efforts aimed at enhancing the
continued viability of large firms,
including continuous monitoring of
firms’ planning and management of
liquidity and funding resources, as well
as regular assessments of credit, market
and operational risks, and associated
risk management practices. Information
gathered in this data collection is also
used in the supervision and regulation
of these financial institutions. To fully
evaluate the data submissions, the
Board may conduct follow-up
discussions with, or request responses
to follow up questions from,
respondents. Respondent firms are
currently required to complete and
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submit up to 18 filings each year: two
semi-annual FR Y–14A filings, four
quarterly FR Y–14Q filings, and 12
monthly FR Y–14M filings. Compliance
with the information collection is
mandatory.
Proposed revisions: In December
2017, the Board approved modifications
to the FR Y–14 series of reports and a
notice was published in the Federal
Register (December 15, 2017; 82 FR
59608). The proposal modified the FR
Y–14Q, Schedule L (Counterparty)
effective as of the March 31, 2018,
report date. These changes included
simplifying the ranking methodology
required for reporting positions and
combining the previously separate
collections of counterparties as ranked
by derivatives and securities financing
transactions (SFTs), respectively.
Following the finalization and adoption
of these proposed changes, the Board
became aware of unintended omissions
from the report forms and instructions
for the FR Y–14Q. The omitted items
required respondents to report their
total stressed net current exposure
under the two supervisory stressed
scenarios.
To rectify the unintended changes,
the Board is proposing to revise subschedule L.5 (Derivatives and SFT
Profile) on the FR Y–14Q by adding the
mistakenly omitted items. This
modification would allow continued
operationalization of supervisory
modeling, and would provide for total
stressed net current exposure reporting
under the two supervisory stressed
scenarios.
With the addition of the total stressed
net current exposure item, the
instructions would be changed to
modify the associated ranking
methodologies for the yearly stressed/
CCAR submission in sub-schedule L.5
to require the top 25 counterparties to
be reported as ranked by the total
stressed net current exposure. This
modification would ensure that top
counterparties are properly rankordered by the total stressed net current
exposure to be added on sub-schedule
L.5 in a manner that captures both
derivative and securities financing
transaction exposures.
The proposed revisions do not result
in a change to the estimated burden for
this series of reports, as the burden from
the proposed revisions is already
captured in the burden estimates
associated with the FR Y–14Q report.
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39095
Board of Governors of the Federal Reserve
System, August 2, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018–16917 Filed 8–7–18; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL TRADE COMMISSION
Privacy Act of 1974; System of
Records
AGENCY:
Federal Trade Commission
(FTC).
ACTION:
Notice of modified systems of
records.
The FTC is publishing in final
form a modification to all FTC Privacy
Act system of records notices (SORNs)
by amending and bifurcating an existing
global routine use relating to assistance
in data breach responses, to conform
with Office of Management and Budget
(OMB) guidance to federal agencies,
OMB Memorandum 17–12.
DATES: August 8, 2018, except that the
new routine use shall be effective
September 7, 2018.
FOR FURTHER INFORMATION CONTACT: G.
Richard Gold and Alex Tang, Attorneys,
Office of the General Counsel, FTC, 600
Pennsylvania Avenue NW, Washington,
DC 20580, (202) 326–2424.
SUPPLEMENTARY INFORMATION: In a
document previously published in the
Federal Register, 83 FR 19560 (May 3,
2018), the Federal Trade Commission,
as required by the Privacy Act, sought
comments on a proposal to modify and
bifurcate an existing routine use relating
to assistance in data breach responses,
which is applicable to all Federal Trade
Commission SORNs, to conform with
OMB Memorandum M–17–12,
Preparing for and Responding to a
Breach of Personally Identifiable
Information (January 3, 2017). See 5
U.S.C. 552a(e)(4) and (11).
The comment period closed on June
4, 2018, and the FTC received three
comments to the proposal to modify and
bifurcate an existing routine use relating
to assistance in data breach responses.
The commenters were Xyampza Kerz,
Thomas Dickinson, and Dave Root.
Xyampza Kerz’s comment expressed
concerns about the privacy of
homeowner’s personal information
posted on the Web when they buy a
home and about internet searches that
allow a searcher to find out your age
and possibly lead to discrimination. M/
M. Kerz also complains about the
practices of an online entity and asks
that the entity be shut down. These are
important privacy issues but are not
SUMMARY:
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]]>Agencies
[Federal Register Volume 83, Number 153 (Wednesday, August 8, 2018)]
[Notices]
[Pages 39093-39095]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-16917]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
[[Page 39094]]
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to revise, without extension, Capital
Assessments and Stress Testing (FR Y-14A/Q/M; OMB No. 7100-0341).
DATES: Comments must be submitted on or before October 9, 2018.
ADDRESSES: You may submit comments, identified by FR Y-14A, FR Y-14Q,
or FR Y-14M, by any of the following methods:
Agency website: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Email: [email protected]. Include OMB
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Ann E. Misback, 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 website at
https://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
3515, 1801 K Street NW (between 18th and 19th Streets NW), Washington,
DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security
reasons, the Board requires that visitors make an appointment to
inspect comments. You may do so by calling (202) 452-3684. Upon
arrival, visitors will be required to present valid government-issued
photo identification and to submit to security screening in order to
inspect and photocopy comments.
Additionally, commenters may send a copy of their comments to the
OMB Desk Officer--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, if approved. These documents will also be made available
on the Federal Reserve Board's public website at: https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears below.
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.
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 and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. 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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Federal
Reserve should modify the proposal.
Proposal To Approve Under OMB Delegated Authority the Revision, Without
Extension, of the Following Report
Report title: Capital Assessments and Stress Testing.
Agency form number: FR Y-14A/Q/M.
OMB control number: 7100-0341.
Frequency: Annually, semi-annually, quarterly, and monthly.
Respondents: The respondent panel consists of any top-tier bank
holding company (BHC) that has $100 billion or more in total
consolidated assets, as determined based on: (i) The average of the
firm's total consolidated assets in the four most recent quarters as
reported quarterly on the firm's FR Y-9C; or (ii) the average of the
firm's total consolidated assets in the most recent consecutive
quarters as reported quarterly on the firm's FR Y-9Cs, if the firm has
not filed an FR Y-9C for each of the most recent four quarters. The
respondent panel also consists of any U.S. intermediate holding company
(IHC). Reporting is required as of the first day of the quarter
immediately following the quarter in which the respondent meets this
asset threshold, unless otherwise directed by the Board.
Number of respondents: 36.
Estimated annual reporting hours: FR Y-14A: Summary, 63,864 hours;
Macro Scenario, 2,232 hours; Operational Risk, 648 hours; Regulatory
Capital Instruments, 756 hours; Business Plan Changes, 576 hours; and
Adjusted Capital Plan Submission, 500 hours. FR Y-14Q: Retail, 2,160
hours; Securities, 1,872 hours; Pre-Provision Net Revenue (PPNR),
102,385 hours; Wholesale, 21,744 hours; Trading, 92,448 hours;
Regulatory Capital Transitions, 3,312 hours; Regulatory Capital
Instruments, 7,776 hours; Operational risk, 7,200 hours; Mortgage
Servicing Rights (MSR) Valuation, 1,380 hours; Supplemental, 576 hours;
Retail Fair Value Option/Held for Sale (Retail FVO/HFS), 1,500 hours;
Counterparty, 24,672 hours; and Balances, 2,304 hours. FR Y-14M: 1st
Lien Mortgage, 210,528 hours; Home Equity, 173,376 hours; and Credit
Card, 86,016 hours. FR Y-14 On-going Automation Revisions, 17,280
hours. FR Y-14 Attestation On-going Audit and Review, 33,280 hours.
Estimated average hours per response: FR Y-14A: Summary, 887 hours;
Macro Scenario, 31 hours; Operational Risk, 18 hours; Regulatory
Capital Instruments, 21 hours; Business Plan Changes, 16 hours; and
Adjusted Capital Plan Submission, 100 hours. FR Y-14Q: Retail, 15
hours; Securities, 13 hours; PPNR, 711 hours; Wholesale, 151 hours;
Trading, 1,926 hours; Regulatory Capital
[[Page 39095]]
Transitions, 23 hours; Regulatory Capital Instruments, 54 hours;
Operational Risk, 50 hours; MSR Valuation, 23 hours; Supplemental, 4
hours; Retail FVO/HFS, 15 hours; Counterparty, 514 hours; and Balances,
16 hours. FR Y-14M: 1st Lien Mortgage, 516 hours; Home Equity, 516
hours; and Credit Card, 512 hours. FR Y-14 On-going Automation
Revisions, 480 hours. FR Y-14 Attestation On-going Audit and Review,
2,560 hours.
General description of report: These collections of information are
applicable to top-tier BHCs with total consolidated assets of $100
billion or more and U.S. IHCs. This family of information collections
is composed of the following three reports:
The FR Y-14A collects quantitative projections of balance
sheet, income, losses, and capital across a range of macroeconomic
scenarios and qualitative information on methodologies used to develop
internal projections of capital across scenarios either annually or
semi-annually.
The quarterly FR Y-14Q collects granular data on various
asset classes, including loans, securities, and trading assets, and
PPNR for the reporting period.
The monthly FR Y-14M is comprised of three retail
portfolio- and loan-level schedules, and one detailed address-matching
schedule to supplement two of the portfolio and loan-level schedules.
The data collected through the FR Y-14A/Q/M reports provide the
Board with the information and perspective needed to help ensure that
large firms have strong, firm-wide risk measurement and management
processes supporting their internal assessments of capital adequacy and
that their capital resources are sufficient given their business focus,
activities, and resulting risk exposures. The annual Comprehensive
Capital Analysis and Review (CCAR) exercise complements other Board
supervisory efforts aimed at enhancing the continued viability of large
firms, including continuous monitoring of firms' planning and
management of liquidity and funding resources, as well as regular
assessments of credit, market and operational risks, and associated
risk management practices. Information gathered in this data collection
is also used in the supervision and regulation of these financial
institutions. To fully evaluate the data submissions, the Board may
conduct follow-up discussions with, or request responses to follow up
questions from, respondents. Respondent firms are currently required to
complete and submit up to 18 filings each year: two semi-annual FR Y-
14A filings, four quarterly FR Y-14Q filings, and 12 monthly FR Y-14M
filings. Compliance with the information collection is mandatory.
Proposed revisions: In December 2017, the Board approved
modifications to the FR Y-14 series of reports and a notice was
published in the Federal Register (December 15, 2017; 82 FR 59608). The
proposal modified the FR Y-14Q, Schedule L (Counterparty) effective as
of the March 31, 2018, report date. These changes included simplifying
the ranking methodology required for reporting positions and combining
the previously separate collections of counterparties as ranked by
derivatives and securities financing transactions (SFTs), respectively.
Following the finalization and adoption of these proposed changes, the
Board became aware of unintended omissions from the report forms and
instructions for the FR Y-14Q. The omitted items required respondents
to report their total stressed net current exposure under the two
supervisory stressed scenarios.
To rectify the unintended changes, the Board is proposing to revise
sub-schedule L.5 (Derivatives and SFT Profile) on the FR Y-14Q by
adding the mistakenly omitted items. This modification would allow
continued operationalization of supervisory modeling, and would provide
for total stressed net current exposure reporting under the two
supervisory stressed scenarios.
With the addition of the total stressed net current exposure item,
the instructions would be changed to modify the associated ranking
methodologies for the yearly stressed/CCAR submission in sub-schedule
L.5 to require the top 25 counterparties to be reported as ranked by
the total stressed net current exposure. This modification would ensure
that top counterparties are properly rank-ordered by the total stressed
net current exposure to be added on sub-schedule L.5 in a manner that
captures both derivative and securities financing transaction
exposures.
The proposed revisions do not result in a change to the estimated
burden for this series of reports, as the burden from the proposed
revisions is already captured in the burden estimates associated with
the FR Y-14Q report.
Board of Governors of the Federal Reserve System, August 2,
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-16917 Filed 8-7-18; 8:45 am]
BILLING CODE 6210-01-P
