Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 58771-58773 [2018-25339]
Download as PDF
<![CDATA[
Federal Register / Vol. 83, No. 225 / Wednesday, November 21, 2018 / Notices
Committee will be Webcast live via the
internet https://fdic.windrosemedia.com.
Questions or troubleshooting help can
be found at the same link. For optimal
viewing, a high-speed internet
connection is recommended. Further, a
video of the meeting will be available
on-demand approximately two weeks
after the event.
FEDERAL MARITIME COMMISSION
Dated: November 16, 2018.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
November 16, 2018.
[FR Doc. 2018–25366 Filed 11–20–18; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL MARITIME COMMISSION
khammond on DSK30JT082PROD with NOTICES
Notice of Agreement Filed
The Commission hereby gives notice
of the filing of the following agreement
under the Shipping Act of 1984.
Interested parties may submit comments
on the agreement to the Secretary by
email at Secretary@fmc.gov, or by mail,
Federal Maritime Commission,
Washington, DC 20573, within twelve
days of the date this notice appears in
the Federal Register. A Copy of the
agreement is available through the
Commission’s website (www.fmc.gov) or
by contacting the Office of Agreements
at (202)–523–5793 or tradeanalysis@
fmc.gov.
Agreement No.: 011707–016.
Agreement Name: Gulf/South
America Discussion Agreement.
Parties: BBC Chartering Carriers
GmbH & Co. KG; Industrial Maritime
Carriers, LLC; Seaboard Marine Ltd.;
and ZEAMARINE Carrier GmbH.
Filing Party: Wade Hooker.
Synopsis: The amendment removes
the sections into which the parties are
currently divided, adds ad hoc space
charter authority, adds joint service
contract authority, and adds
ZEAMARINE Carrier GmbH as a party to
the Agreement.
Proposed Effective Date: 12/27/2018.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/684.
[Docket No. 18–10]
Logfret, Inc., Complainant v. Kirsha,
B.V., Leendert Johanness Bergwerff
a/k/a Hans Bergwerff, Linda Sieval,
Respondents; Notice of Filing of
Complaint and Assignment
Notice is given that a complaint has
been filed with the Federal Maritime
Commission (Commission) by Logfret,
Inc., hereinafter ‘‘Complainant’’, against
Kirsha, B.V., Leendert Johanness
Bergwerff a/k/a Hans Bergwerff, and
Linda Sieval, hereinafter
‘‘Respondents’’. Complainant states that
it ‘‘. . . provides transport, logistics and
related shipping services to customers
in the United States and worldwide’’
and is licensed by the Commission.
Complainant states that it ‘‘. . . is an
affiliate of Logfret, B.V. . . . ’’
Complainant states that ‘‘. . .
Respondent Kirsha, B.V. is a corporation
organized and existing under the laws of
the Netherlands. . . .’’ Complainant
states that ‘‘Respondent Ms. Linda
Sieval, a Dutch national, was a sales
manager for Logfret B.V. until the
termination of her employment on
March 1, 2018. Complainant states that
Respondent Mr. Hans Bergwerff, is
‘‘. . . a Dutch national, who exercises
signatory authority and direct control
over Kirsha, B.V.’’
Complainant alleges that
Respondents, in the course of their
management of Logret B.V., violated 46
U.S.C. 41103(a) by unlawfully routing
shipments to a competitor, and
improper use of Complainant’s bill of
lading.
Complainant seeks reparations in the
amount of $2,000,000 and other relief.
The full text of the complaint can be
found in the Commission’s Electronic
Reading Room at www.fmc.gov/18-10.
This proceeding has been assigned to
Office of Administrative Law Judges.
The initial decision of the presiding
office in this proceeding shall be issued
by November 18, 2019, and the final
decision of the Commission shall be
issued by June 1, 2020.
Dated: November 16, 2018.
Rachel Dickon,
Secretary.
Rachel E. Dickon,
Secretary.
[FR Doc. 2018–25389 Filed 11–20–18; 8:45 am]
BILLING CODE 6731–AA–P
[FR Doc. 2018–25415 Filed 11–20–18; 8:45 am]
BILLING CODE 6731–AA–P
VerDate Sep<11>2014
16:08 Nov 20, 2018
Jkt 247001
PO 00000
Frm 00017
Fmt 4703
Sfmt 4703
58771
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
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
December 7, 2018.
A. Federal Reserve Bank of Chicago
(Colette A. Fried, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690–1414:
1. 2018 Grantor Trust FBO Rachel
Grimstad and 2018 Grantor Trust FBO
Gus Grimstad, with Padrin Grimstad as
trustee, together with the 2018 Grantor
Trust FBO Max Grimstad and 2018
Grantor Trust FBO Oscar Grimstad, with
Ann Grimstad as trustee, all of Decorah,
Iowa; to join the Grimstad Family
Control Group approved on September
21, 2005, and acquire voting shares of
Security Agency, Inc., and thereby
indirectly acquire voting shares of
Decorah Bank and Trust Company, both
in Decorah, Iowa.
Board of Governors of the Federal Reserve
System, November 16, 2018.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2018–25383 Filed 11–20–18; 8:45 am]
BILLING CODE 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 revise for three
years, without extension, the Capital
Assessments and Stress Testing (FR Y–
14A/Q/M; OMB No. 7100–0341). The
revisions are applicable with the reports
as of December 31, 2018.
AGENCY:
E:\FR\FM\21NON1.SGM
21NON1
58772
Federal Register / Vol. 83, No. 225 / Wednesday, November 21, 2018 / Notices
khammond on DSK30JT082PROD with NOTICES
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 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.
Final Approval Under OMB Delegated
Authority of the Revision, Without
Extension, of the Following Information
Collection:
Report title: Capital Assessments and
Stress Testing.
Agency form number: FR Y–14A/
Q/M.
OMB control number: 7100–0341.
Effective Date: December 31, 2018.
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
VerDate Sep<11>2014
16:08 Nov 20, 2018
Jkt 247001
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.
Estimated number of respondents: 36.
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
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.
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.
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 semi-annual FR Y–14A, which
collects quantitative projections of
balance sheet, income, losses, and
capital across a range of macroeconomic
scenarios, and qualitative information
on methodologies used to develop
PO 00000
Frm 00018
Fmt 4703
Sfmt 4703
internal projections of capital across
scenarios.1
• The quarterly FR Y–14Q, which
collects granular data on various asset
classes, including loans, securities,
trading assets, and pre-provision net
revenue (PPNR) for the reporting period.
• The monthly FR Y–14M, which 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.
Respondent firms are currently
required to submit up to 18 filings each
year: 2 semi-annual FR Y–14A filings, 4
quarterly FR Y–14Q filings, and 12
monthly FR Y–14M filings.
Legal authorization and
confidentiality: The FR Y–14 A/Q/M
reports are mandatory. The Board has
the authority to require BHCs to file the
FR Y–14A/Q/M reports pursuant to
section 5 of the Bank Holding Company
Act (BHC Act) (12 U.S.C. 1844), and to
require the U.S. IHCs of Foreign
Banking Organizations to file the FR Y–
14 A/Q/M reports pursuant to section 5
of the BHC Act, in conjunction with
section 8 of the International Banking
Act (12 U.S.C. 3106).
The information collected in these
reports is collected as part of the Board’s
supervisory process, and therefore is
afforded confidential treatment
pursuant to exemption 8 of the Freedom
of Information Act (FOIA) (5 U.S.C.
552(b)(8)). In addition, individual
respondents may request that certain
data be afforded confidential treatment
pursuant to exemption 4 of FOIA if the
data has not previously been publically
disclosed and the release of the data
would likely cause substantial harm to
the competitive position of the
respondent (5 U.S.C. 552(b)(4)).
Determinations of confidentiality based
on exemption 4 of FOIA would be made
on a case-by-case basis.
Current actions: On August 8, 2018,
the Board published a notice in the
Federal Register (83 FR 39093)
requesting public comment for 60 days
on the revision, without extension, of
the Capital Assessments and Stress
Testing (FR Y–14A/Q/M). The Board
proposed revising sub-schedule L.5
(Derivatives and SFT Profile) of the FR
Y–14Q, Schedule L (Counterparty) by
adding back mistakenly omitted items
for total stressed net current exposure to
be reported under the two supervisory
stressed scenarios. With the addition of
these items, the instructions would be
1 Firms that must re-submit their capital plan
generally also must provide a revised FR Y–14A in
connection with their resubmission. See 12 CFR
225.8(d)(4).
E:\FR\FM\21NON1.SGM
21NON1
Federal Register / Vol. 83, No. 225 / Wednesday, November 21, 2018 / Notices
changed to modify the associated
ranking methodologies for the yearly
stressed/CCAR submission in subschedule L.5 to require the top 25
counterparties to be reported as ranked
by the total stressed net current
exposure. The comment period for this
notice expired on October 9, 2018. The
Board received one comment from a
banking organization. The commenter
requested that the Board adopt these
changes and publish the associated
materials as soon as possible in order to
provide adequate time to implement
and test the changes. The Board strives
to provide as much time as possible in
advance of the effective date for firms to
implement revisions. The draft forms
and instructions were made available
with the publication of the initial
notice. The revisions, including draft
forms and instructions, will be
implemented as proposed as of
December 31, 2018.
Board of Governors of the Federal Reserve
System, November 15, 2018.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2018–25339 Filed 11–20–18; 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, with revision, the Reporting,
Recordkeeping, and Disclosure
Requirements Associated with the
Home Mortgage Disclosure Act (HMDA)
and Loan/Application Register (LAR)
required by Regulation C (FR HMDA
LAR, OMB No. 7100–0247).
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.
khammond on DSK30JT082PROD with NOTICES
AGENCY:
VerDate Sep<11>2014
16:08 Nov 20, 2018
Jkt 247001
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. 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.
Final approval under OMB delegated
authority of the extension for three
years, with revision, of the following
information collection:
Report title: Reporting,
Recordkeeping, and Disclosure
Requirements Associated with the
Home Mortgage Disclosure Act (HMDA)
and Loan/Application Register (LAR)
required by Regulation C.
Agency form number: FR HMDA LAR.
OMB control number: 7100–0247.
Frequency: Annually and quarterly.
Respondents: State member banks
(SMBs), their subsidiaries, subsidiaries
of bank holding companies, U.S.
branches and agencies of foreign banks
(other than federal branches, federal
agencies, and insured state branches of
foreign banks), commercial lending
companies owned or controlled by
foreign banks, and organizations
operating under section 25 or 25A of the
Federal Reserve Act.
Estimated number of respondents:
Update policies, procedures, and
systems (one-time), 505 respondents;
Reporting—Tier 1 (annual reporter), 2
respondents; Tier 1 (quarterly reporter),
1 respondent; Tier 2, 148 respondents;
Tier 2 (Crapo), 300 respondents; and
Tier 3 (Crapo), 54 respondents;
Recordkeeping—Tier 1 (annual
reporter), 2 respondents; Tier 1
(quarterly reporter), 1 respondent; Tier
2, 448 respondents; and Tier 3, 54
respondents; and Disclosure—Tier 1
(annual reporter), 2 respondents; and
Tier 1 (quarterly reporter), 1 respondent.
Estimated average hours per response:
Update policies, procedures, and
systems (one-time), 176 hours;
Reporting—Tier 1 (annual reporter),
5,969 hours; Tier 1 (quarterly reporter),
6,903 hours; Tier 2, 1,232 hours; Tier 2
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00019
Fmt 4703
Sfmt 4703
58773
(Crapo), 986 hours; and Tier 3 (Crapo),
64 hours; Recordkeeping—Tier 1
(annual reporter), 4,130 hours; Tier 1
(quarterly reporter), 4,130 hours; Tier 2,
83 hours; and Tier 3, 27 hours; and
Disclosure—Tier 1 (annual reporter), 5
hours; and Tier 1 (quarterly reporter), 5
hours.
Estimated annual burden hours:
Update policies, procedures, and
systems (one-time), 88,880 hours;
Reporting—Tier 1 (annual reporter),
11,938 hours; Tier 1 (quarterly reporter),
27,612 hours; Tier 2, 182,336 hours;
Tier 2: Crapo, 295,800 hours; and Tier
3: Crapo, 3,456 hours; Recordkeeping—
Tier 1 (annual reporter), 8,260 hours;
Tier 1 (quarterly reporter), 16,520 hours;
Tier 2, 37,184 hours; and Tier 3, 1,458
hours; and Disclosure—Tier 1 (annual
reporter), 10 hours; and Tier 1 (quarterly
reporter), 20 hours.
General description of report: HMDA
was enacted in 1975 and is
implemented by Regulation C.
Generally, HMDA requires certain
depository and non-depository
institutions that make certain mortgage
loans to collect, report, and disclose
data about originations and purchases of
mortgage loans, as well as loan
applications that do not result in
originations (for example, applications
that are denied or withdrawn). HMDA
was enacted to provide regulators and
the public with loan data that can be
used to: (1) Help determine whether
financial institutions are serving the
housing needs of their communities, (2)
assist public officials in distributing
public-sector investments so as to attract
private investment to areas where it is
needed, and (3) assist in identifying
possible discriminatory lending patterns
and enforcing anti-discrimination
statutes.1 Supervisory agencies, state
and local public officials, and members
of the public use the data to aid in the
enforcement of the Community
Reinvestment Act, the Equal Credit
Opportunity Act, and the Fair Housing
Act and to aid in identifying areas for
residential redevelopment and
rehabilitation.
Legal authorization and
confidentiality: The FR HMDA LAR is
authorized pursuant to section 304(j) of
HMDA (12 U.S.C. 2803(j)), which
requires that the Bureau of Consumer
Financial Protection (Bureau) prescribe
by regulation the form of loan
application register information that
must be reported by covered financial
institutions. Section 1003.5 of
Regulation C implements this statutory
provision, and requires covered
financial institutions to submit reports
1 12
CFR 1003.1(b).
E:\FR\FM\21NON1.SGM
21NON1
]]>Agencies
[Federal Register Volume 83, Number 225 (Wednesday, November 21, 2018)]
[Notices]
[Pages 58771-58773]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25339]
-----------------------------------------------------------------------
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 revise for three years, without extension,
the Capital Assessments and Stress Testing (FR Y-14A/Q/M; OMB No. 7100-
0341). The revisions are applicable with the reports as of December 31,
2018.
[[Page 58772]]
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 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.
Final Approval Under OMB Delegated Authority of the Revision,
Without Extension, of the Following Information Collection:
Report title: Capital Assessments and Stress Testing.
Agency form number: FR Y-14A/ Q/M.
OMB control number: 7100-0341.
Effective Date: December 31, 2018.
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.
Estimated number of respondents: 36.
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 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.
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.
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 semi-annual FR Y-14A, which 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.\1\
---------------------------------------------------------------------------
\1\ Firms that must re-submit their capital plan generally also
must provide a revised FR Y-14A in connection with their
resubmission. See 12 CFR 225.8(d)(4).
---------------------------------------------------------------------------
The quarterly FR Y-14Q, which collects granular data on
various asset classes, including loans, securities, trading assets, and
pre-provision net revenue (PPNR) for the reporting period.
The monthly FR Y-14M, which 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.
Respondent firms are currently required to submit up to 18 filings
each year: 2 semi-annual FR Y-14A filings, 4 quarterly FR Y-14Q
filings, and 12 monthly FR Y-14M filings.
Legal authorization and confidentiality: The FR Y-14 A/Q/M reports
are mandatory. The Board has the authority to require BHCs to file the
FR Y-14A/Q/M reports pursuant to section 5 of the Bank Holding Company
Act (BHC Act) (12 U.S.C. 1844), and to require the U.S. IHCs of Foreign
Banking Organizations to file the FR Y-14 A/Q/M reports pursuant to
section 5 of the BHC Act, in conjunction with section 8 of the
International Banking Act (12 U.S.C. 3106).
The information collected in these reports is collected as part of
the Board's supervisory process, and therefore is afforded confidential
treatment pursuant to exemption 8 of the Freedom of Information Act
(FOIA) (5 U.S.C. 552(b)(8)). In addition, individual respondents may
request that certain data be afforded confidential treatment pursuant
to exemption 4 of FOIA if the data has not previously been publically
disclosed and the release of the data would likely cause substantial
harm to the competitive position of the respondent (5 U.S.C.
552(b)(4)). Determinations of confidentiality based on exemption 4 of
FOIA would be made on a case-by-case basis.
Current actions: On August 8, 2018, the Board published a notice in
the Federal Register (83 FR 39093) requesting public comment for 60
days on the revision, without extension, of the Capital Assessments and
Stress Testing (FR Y-14A/Q/M). The Board proposed revising sub-schedule
L.5 (Derivatives and SFT Profile) of the FR Y-14Q, Schedule L
(Counterparty) by adding back mistakenly omitted items for total
stressed net current exposure to be reported under the two supervisory
stressed scenarios. With the addition of these items, the instructions
would be
[[Page 58773]]
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. The comment period for this notice expired on October
9, 2018. The Board received one comment from a banking organization.
The commenter requested that the Board adopt these changes and publish
the associated materials as soon as possible in order to provide
adequate time to implement and test the changes. The Board strives to
provide as much time as possible in advance of the effective date for
firms to implement revisions. The draft forms and instructions were
made available with the publication of the initial notice. The
revisions, including draft forms and instructions, will be implemented
as proposed as of December 31, 2018.
Board of Governors of the Federal Reserve System, November 15,
2018.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2018-25339 Filed 11-20-18; 8:45 am]
BILLING CODE 6210-01-P
