Proposed Agency Information Collection Activities; Comment Request, 61637-61638 [2018-26088]

Download as PDF Federal Register / Vol. 83, No. 231 / Friday, November 30, 2018 / Notices Regulation H require a state member bank to seek prior approval of the Federal Reserve System before establishing or acquiring a domestic branch. Such requests for approval must be filed as applications at the appropriate Reserve Bank for the state member bank. Due to the limited information that a state member bank generally has to provide for branch proposals, there is no formal reporting form for a domestic branch application. A state member bank is required to notify the Federal Reserve by letter of its intent to establish one or more new branches and provide with the letter evidence that public notice of the proposed branch(es) has been published by the state member bank in the appropriate newspaper(s).1 The Federal Reserve uses the information provided to fulfill its statutory obligation to review branch applications before acting on the proposals and otherwise to supervise state member banks. Legal authorization and confidentiality: The Board’s filing requirements associated with Domestic Branch Notification are authorized under section 9(3) of the Federal Reserve Act (12 U.S.C. 321), which requires state member banks to obtain Board approval before establishing a domestic branch (Board’s Regulation H (12 CFR 208.6)). The obligation of state member banks to request prior approval from the Federal Reserve to establish a domestic branch is mandatory. The information contained in a state member bank’s Domestic Branch Notification is considered public. A state member bank’s request that any portion(s) of a Domestic Branch Notification be kept confidential pursuant to exemption 4 of the Freedom of Information Act (5 U.S.C. 552(b)(4)) must be submitted in accordance with section 261.15 of the Board’s Rules Regarding Availability of Information (12 CFR 261.15). Board of Governors of the Federal Reserve System, November 27, 2018. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2018–26087 Filed 11–29–18; 8:45 am] amozie on DSK3GDR082PROD with NOTICES1 BILLING CODE 6210–01–P 1 Per Rules of Procedure (12 CFR 262), Board regulations require the use of newspaper for public notifications. For the purposes of FR 4001, the newspaper used must be in the general circulation of the community or communities in which the head office of the bank and the proposed branch are located. VerDate Sep<11>2014 17:00 Nov 29, 2018 Jkt 247001 FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Recordkeeping Provisions Associated with the Guidance on Sound Incentive Compensation Policies (FR 4027; OMB No. 7100–0327). DATES: Comments must be submitted on or before January 29, 2019. ADDRESSES: You may submit comments, identified by FR 4027, 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 a.m. and 5 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. SUMMARY: PO 00000 Frm 00039 Fmt 4703 Sfmt 4703 61637 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 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. FOR FURTHER INFORMATION CONTACT: 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 Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’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, E:\FR\FM\30NON1.SGM 30NON1 61638 Federal Register / Vol. 83, No. 231 / Friday, November 30, 2018 / Notices 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 Board should modify the proposal. amozie on DSK3GDR082PROD with NOTICES1 Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Recordkeeping Provisions Associated with the Guidance on Sound Incentive Compensation Policies. Agency form number: FR 4027. OMB control number: 7100–0327. Frequency: Annual. Respondents: Banking organizations. Estimated number of respondents: One-time implementation for large institutions: 1; one-time implementation for small institutions: 1; ongoing maintenance: 5,503. Estimated average hours per response: One-time implementation for large institutions: 480; one-time implementation for small institutions: 80; ongoing maintenance: 40. Estimated annual burden hours: 228,960. General description of report: Compatibility With Effective Controls and Risk Management Pursuant to Principle 2 of the Guidance, a banking organization’s riskmanagement processes and internal controls should reinforce and support the development and maintenance of balanced incentive compensation arrangements. Principle 2 states that banking organizations should create and maintain sufficient documentation to permit an audit of the organization’s processes for establishing, modifying, and monitoring incentive compensation arrangements. Additionally, large banking organizations should maintain policies and procedures that (i) identify and describe the role(s) of the personnel, business units, and control units authorized to be involved in the design, implementation, and monitoring of incentive compensation arrangements; (ii) identify the source of significant risk-related inputs into these processes and establish appropriate controls governing the development and approval of these inputs to help ensure their integrity; and (iii) identify the individual(s) and control unit(s) whose approval is necessary for the establishment of new incentive compensation arrangements or modification of existing arrangements. Strong Corporate Governance Pursuant to Principle 3 of the Guidance, banking organizations should VerDate Sep<11>2014 17:00 Nov 29, 2018 Jkt 247001 have strong and effective corporate governance to help ensure sound compensation practices. The Guidance states that a banking organization’s board of directors should approve and document any material exceptions or adjustments to the organization’s incentive compensation arrangements established for senior executives. Legal authorization and confidentiality: The recordkeeping provisions of the Guidance are authorized pursuant to sections 9, 11(a), 25, and 25A of the Federal Reserve Act (12 U.S.C. 248(a), 325, 602, and 625); section 5 of the Bank Holding Company Act (12 U.S.C. 1844); section 10(b)(2) of the Home Owners’ Loan Act (12 U.S.C. 1467a(b)(2)); section 7(c) of the International Banking Act (12 U.S.C. 3105(c)); and section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p–1(c)). Because the recordkeeping provisions are contained within guidance, which is nonbinding, they are voluntary. There are no reporting forms associated with this information collection. Because the incentive compensation records would be maintained at each banking organization, the Freedom of Information Act (‘‘FOIA’’) would only be implicated if the Board obtained such records as part of the examination or supervision of a banking organization. In the event the records are obtained by the Board as part of an examination or supervision of a financial institution, this information is considered confidential pursuant to exemption 8 of the FOIA, which protects information contained in ‘‘examination, operating, or condition reports’’ obtained in the bank supervisory process (5 U.S.C. 552(b)(8)). In addition, the information may also be kept confidential under exemption 4 for the FOIA, which protects commercial or financial information obtained from a person that is privileged or confidential (5 U.S.C. 552(b)(4)). Consultation outside the agency: The Board has consulted with the OCC and FDIC to confirm that there will be no revisions to the Guidance, and that the one-time implementation burden should be reduced, as these agencies do not expect any banking organizations to newly implement the recordkeeping requirements associated with the Guidance. Each agency may update their respective respondent count if needed. PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 Board of Governors of the Federal Reserve System, November 27, 2018. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2018–26088 Filed 11–29–18; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Medicare & Medicaid Services [Document Identifier CMS–10691] Agency Information Collection Activities: Proposed Collection; Comment Request Centers for Medicare & Medicaid Services, Department of Health and Human Services. ACTION: Notice. AGENCY: The Centers for Medicare & Medicaid Services (CMS) is announcing an opportunity for the public to comment on CMS’ intention to collect information from the public. Under the Paperwork Reduction Act of 1995 (the PRA), federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information (including each proposed extension or reinstatement of an existing collection of information) and to allow 60 days for public comment on the proposed action. Interested persons are invited to send comments regarding our burden estimates or any other aspect of this collection of information, including the necessity and utility of the proposed information collection for the proper performance of the agency’s functions, the accuracy of the estimated burden, ways to enhance the quality, utility, and clarity of the information to be collected, and the use of automated collection techniques or other forms of information technology to minimize the information collection burden. DATES: Comments must be received by January 29, 2019. ADDRESSES: When commenting, please reference the document identifier or OMB control number. To be assured consideration, comments and recommendations must be submitted in any one of the following ways: 1. Electronically. You may send your comments electronically to https:// www.regulations.gov. Follow the instructions for ‘‘Comment or Submission’’ or ‘‘More Search Options’’ to find the information collection document(s) that are accepting comments. 2. By regular mail. You may mail written comments to the following SUMMARY: E:\FR\FM\30NON1.SGM 30NON1

Agencies

[Federal Register Volume 83, Number 231 (Friday, November 30, 2018)]
[Notices]
[Pages 61637-61638]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26088]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Recordkeeping Provisions Associated with the Guidance on 
Sound Incentive Compensation Policies (FR 4027; OMB No. 7100-0327).

DATES: Comments must be submitted on or before January 29, 2019.

ADDRESSES: You may submit comments, identified by FR 4027, 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 a.m. and 5 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 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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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,

[[Page 61638]]

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 Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Recordkeeping Provisions Associated with the Guidance 
on Sound Incentive Compensation Policies.
    Agency form number: FR 4027.
    OMB control number: 7100-0327.
    Frequency: Annual.
    Respondents: Banking organizations.
    Estimated number of respondents: One-time implementation for large 
institutions: 1; one-time implementation for small institutions: 1; 
ongoing maintenance: 5,503.
    Estimated average hours per response: One-time implementation for 
large institutions: 480; one-time implementation for small 
institutions: 80; ongoing maintenance: 40.
    Estimated annual burden hours: 228,960.
    General description of report:

Compatibility With Effective Controls and Risk Management

    Pursuant to Principle 2 of the Guidance, a banking organization's 
risk-management processes and internal controls should reinforce and 
support the development and maintenance of balanced incentive 
compensation arrangements. Principle 2 states that banking 
organizations should create and maintain sufficient documentation to 
permit an audit of the organization's processes for establishing, 
modifying, and monitoring incentive compensation arrangements. 
Additionally, large banking organizations should maintain policies and 
procedures that (i) identify and describe the role(s) of the personnel, 
business units, and control units authorized to be involved in the 
design, implementation, and monitoring of incentive compensation 
arrangements; (ii) identify the source of significant risk-related 
inputs into these processes and establish appropriate controls 
governing the development and approval of these inputs to help ensure 
their integrity; and (iii) identify the individual(s) and control 
unit(s) whose approval is necessary for the establishment of new 
incentive compensation arrangements or modification of existing 
arrangements.

Strong Corporate Governance

    Pursuant to Principle 3 of the Guidance, banking organizations 
should have strong and effective corporate governance to help ensure 
sound compensation practices. The Guidance states that a banking 
organization's board of directors should approve and document any 
material exceptions or adjustments to the organization's incentive 
compensation arrangements established for senior executives.
    Legal authorization and confidentiality: The recordkeeping 
provisions of the Guidance are authorized pursuant to sections 9, 
11(a), 25, and 25A of the Federal Reserve Act (12 U.S.C. 248(a), 325, 
602, and 625); section 5 of the Bank Holding Company Act (12 U.S.C. 
1844); section 10(b)(2) of the Home Owners' Loan Act (12 U.S.C. 
1467a(b)(2)); section 7(c) of the International Banking Act (12 U.S.C. 
3105(c)); and section 39 of the Federal Deposit Insurance Act (12 
U.S.C. 1831p-1(c)).
    Because the recordkeeping provisions are contained within guidance, 
which is nonbinding, they are voluntary. There are no reporting forms 
associated with this information collection.
    Because the incentive compensation records would be maintained at 
each banking organization, the Freedom of Information Act (``FOIA'') 
would only be implicated if the Board obtained such records as part of 
the examination or supervision of a banking organization. In the event 
the records are obtained by the Board as part of an examination or 
supervision of a financial institution, this information is considered 
confidential pursuant to exemption 8 of the FOIA, which protects 
information contained in ``examination, operating, or condition 
reports'' obtained in the bank supervisory process (5 U.S.C. 
552(b)(8)). In addition, the information may also be kept confidential 
under exemption 4 for the FOIA, which protects commercial or financial 
information obtained from a person that is privileged or confidential 
(5 U.S.C. 552(b)(4)).
    Consultation outside the agency: The Board has consulted with the 
OCC and FDIC to confirm that there will be no revisions to the 
Guidance, and that the one-time implementation burden should be 
reduced, as these agencies do not expect any banking organizations to 
newly implement the recordkeeping requirements associated with the 
Guidance. Each agency may update their respective respondent count if 
needed.

    Board of Governors of the Federal Reserve System, November 27, 
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-26088 Filed 11-29-18; 8:45 am]
 BILLING CODE 6210-01-P
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