Agency Information Collection Activities; Emergency Submission for OMB Review; Comment Request; Quarterly Dealer Agenda Survey, 67487-67488 [2018-28286]

Download as PDF Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices Public Comments Invited: You are asked to comment on any aspect of this information collection, including (a) whether the proposed collection of information is necessary for OST’s performance; (b) the accuracy of the estimated burden; (c) ways for OST to enhance the quality, utility and clarity of the information collection; and (d) ways that the burden could be minimized without reducing the quality of the collected information. The agency will summarize and/or include your comments in the request for OMB’s clearance of this information collection. Authority: The Paperwork Reduction Act of 1995; 44 U.S.C. Chapter 35, as amended; and 49 CFR 1:48. Issued in Washington, DC, on December, 20, 2018. John Augustine, Director of the Office of Infrastructure Finance and Innovation, Office of the Under Secretary for Transportation Policy. [FR Doc. 2018–28237 Filed 12–27–18; 8:45 am] BILLING CODE 4910–XX–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network; Bank Secrecy Act Advisory Group; Solicitation of Application for Membership Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Notice and request for nominations. AGENCY: FinCEN is inviting the public to nominate financial institutions, trade groups, and non-federal regulators or law enforcement agencies for membership on the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms. SUMMARY: Nominations must be received by January 28, 2019. ADDRESSES: Nominations must be emailed to BSAAG@fincen.gov. FOR FURTHER INFORMATION CONTACT: FinCEN Resource Center at 800–767– 2825. DATES: The Annunzio-Wylie Anti-Money Laundering Act of 1992 required the Secretary of the Treasury to establish a Bank Secrecy Act Advisory Group (BSAAG) consisting of representatives from federal regulatory and law enforcement agencies, financial institutions, and trade groups with members subject to the requirements of the Bank Secrecy Act, 31 CFR 1000– 1099 et seq. or Section 6050I of the amozie on DSK3GDR082PROD with NOTICES1 SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 18:13 Dec 27, 2018 Jkt 247001 Internal Revenue Code of 1986. The BSAAG is the means by which the Treasury receives advice on the operations of the Bank Secrecy Act. As chair of the BSAAG, the Director of FinCEN is responsible for ensuring that relevant issues are placed before the BSAAG for review, analysis, and discussion. BSAAG membership is open to financial institutions, trade groups, and non-federal regulators and law enforcement agencies. Membership is granted to organizations, not to individuals. Organizational members will be selected to serve a three-year term and must designate one individual to represent that member at plenary meetings. The designated representative should be knowledgeable about Bank Secrecy Act requirements and the representative’s organization must be able and willing to devote the necessary personnel time and effort. Examples of expected effort include actively sharing not just anecdotal perspectives, but also quantifiable insights, on BSA requirements and industry trends in BSAAG discussions. The organization’s representative must be able to attend biannual plenary meetings, generally conducted over one or two days, held in Washington, DC, in May and October. Additional BSAAG meetings are held by phone or in person. It is important to provide complete answers to the following items, as nominations will be evaluated on the information provided through this application process. There is no formal application; interested organizations may submit their nominations via email or email attachment. Nominations should consist of: • Name of the organization requesting membership • Point of contact, title, address, email address and phone number • Description of the financial institution or trade group and its involvement with the Bank Secrecy Act, 31 CFR 1000–1099 et seq. • Reasons why the organization’s participation on the BSAAG will bring value to the group Organizations may nominate themselves, but nominations for individuals who are not representing an organization will not be considered. Members will not be remunerated for their time, services, or travel. In making the selections, FinCEN will seek to complement current BSAAG members in terms of affiliation, industry, and geographic representation. The Director of FinCEN retains full discretion on all membership decisions. The Director may consider prior years’ applications PO 00000 Frm 00277 Fmt 4703 Sfmt 4703 67487 when making selections and does not limit consideration to institutions nominated by the public when making selections. Dated: December 20, 2018. Kenneth A. Blanco, Director, Financial Crimes Enforcement Network. [FR Doc. 2018–28178 Filed 12–27–18; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Emergency Submission for OMB Review; Comment Request; Quarterly Dealer Agenda Survey Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury has submitted the following information collection request to the Office of Management and Budget (OMB) for review and clearance utilizing emergency review procedures in accordance with the Paperwork Reduction Act of 1995. Emergency review and approval of this collection has been requested from OMB by January 10, 2019. The public is invited to submit comments on this request. DATES: Comments should be received on or before January 10, 2019 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@ OMB.EOP.gov and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Jennifer Quintana by emailing PRA@treasury.gov, calling (202) 622–0489, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: SUMMARY: Treasury Departmental Offices (DO) Title: Quarterly Dealer Agenda Survey. OMB Control Number: 1505–NEW. Type of Review: Request for a New OMB Control Number. Description: The Department of the Treasury (Treasury), Office of Debt E:\FR\FM\28DEN1.SGM 28DEN1 67488 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices amozie on DSK3GDR082PROD with NOTICES1 Management (ODM) conducts the Primary Dealer Meeting Agenda (Agenda), which is a quarterly survey sent to all primary dealers, of which there are currently 23 financial institutions. Primary dealers are trading counter parties of the Federal Reserve Bank of New York (FRBNY) in its implementation of monetary policy. Primary dealers are also expected to have a substantial presence as a market maker for Treasury securities and bid on a pro-rata basis in all Treasury auctions. The information in the Agenda is a critical factor to inform ODM’s decision to set the securities’ issuance sizes for the upcoming quarter. In effect, the information provides a market view of borrowing needs for the U.S. government. In addition, aggregate statistics are made public through Treasury’s Quarterly Refunding materials. Treasury is requesting emergency processing for this collection of information as provided under 5 CFR 1320.13. The Agenda has been used for many years to gather information from primary dealers, however Treasury only recently realized that the survey had not been cleared under the Paperwork Reduction Act (PRA). Though the FRBNY sends and receives the survey to the primary dealers, it does so on Treasury’s behalf. As such, Treasury now recognizes that it should be considered the ‘‘sponsor’’ of the information collection for purposes of the PRA. Given the next anticipated Agenda release date of January 11 (two VerDate Sep<11>2014 18:13 Dec 27, 2018 Jkt 247001 weeks prior to the regularly scheduled meeting with primary dealers to discuss feedback before the Quarterly Refunding), the agency cannot reasonably comply with the normal clearance procedures under the PRA. The Treasury’s mission to manage the U.S government’s finances and resources effectively includes financing the government’s borrowing needs at the lowest cost over time. Treasury meets this objective by issuing debt in a regular and predictable pattern, providing transparency in its decisionmaking process, and seeking continuous improvements in the Treasury auction process. The risks to regular and predictable debt issuance result from unexpected changes in our borrowing requirements, changes in the demand for Treasury securities, and anything that inhibits timely sales of securities. To reduce these risks, Treasury closely monitors economic conditions, market activity, and, if necessary, responds with appropriate changes in debt issuance based on analysis and consultation with market participants, including the primary dealers. Changes in debt management policy are generally developed through the quarterly refunding (https://www.treasury.gov/ resource-center/data-chart-center/ quarterly-refunding/Pages/default.aspx) process near the middle of each calendar quarter. Treasury begins this process by soliciting advice and views from the private sector through questions to primary dealers (https:// www.treasury.gov/resource-center/data- PO 00000 Frm 00278 Fmt 4703 Sfmt 9990 chart-center/quarterly-refunding/Pages/ agenda-index.aspx) in the Agenda. If this information were not collected, Treasury would not have insight into market expectations for debt issuance or other fiscal policy initiatives, nor would the public have the aggregate statistics published after the collection of that information. When making policy decisions, Treasury takes into account market expectations to better understand market demand for Treasury securities, capacity to absorb additional issuance when applicable, and the magnitude of risk from announcing policies in contrast to expectations. Without this information, Treasury’s goal of financing the government at the lowest cost to the taxpayer would be at risk. Form: None. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 23. Frequency of Response: Quarterly. Estimated Total Number of Annual Responses: 92. Estimated Time per Response: 2 hours. Estimated Total Annual Burden Hours: 184. Authority: 44 U.S.C. 3501 et seq. Dated: December 21, 2018. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2018–28286 Filed 12–27–18; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\28DEN1.SGM 28DEN1

Agencies

[Federal Register Volume 83, Number 248 (Friday, December 28, 2018)]
[Notices]
[Pages 67487-67488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-28286]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Emergency Submission 
for OMB Review; Comment Request; Quarterly Dealer Agenda Survey

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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

SUMMARY: The Department of the Treasury has submitted the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance utilizing emergency review procedures in 
accordance with the Paperwork Reduction Act of 1995. Emergency review 
and approval of this collection has been requested from OMB by January 
10, 2019. The public is invited to submit comments on this request.

DATES: Comments should be received on or before January 10, 2019 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at OIRA_Submission@OMB.EOP.gov and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, 
DC 20220, or email at PRA@treasury.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Jennifer Quintana by emailing PRA@treasury.gov, calling 
(202) 622-0489, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Treasury Departmental Offices (DO)

    Title: Quarterly Dealer Agenda Survey.
    OMB Control Number: 1505-NEW.
    Type of Review: Request for a New OMB Control Number.
    Description: The Department of the Treasury (Treasury), Office of 
Debt

[[Page 67488]]

Management (ODM) conducts the Primary Dealer Meeting Agenda (Agenda), 
which is a quarterly survey sent to all primary dealers, of which there 
are currently 23 financial institutions. Primary dealers are trading 
counter parties of the Federal Reserve Bank of New York (FRBNY) in its 
implementation of monetary policy. Primary dealers are also expected to 
have a substantial presence as a market maker for Treasury securities 
and bid on a pro-rata basis in all Treasury auctions. The information 
in the Agenda is a critical factor to inform ODM's decision to set the 
securities' issuance sizes for the upcoming quarter. In effect, the 
information provides a market view of borrowing needs for the U.S. 
government. In addition, aggregate statistics are made public through 
Treasury's Quarterly Refunding materials.
    Treasury is requesting emergency processing for this collection of 
information as provided under 5 CFR 1320.13. The Agenda has been used 
for many years to gather information from primary dealers, however 
Treasury only recently realized that the survey had not been cleared 
under the Paperwork Reduction Act (PRA). Though the FRBNY sends and 
receives the survey to the primary dealers, it does so on Treasury's 
behalf. As such, Treasury now recognizes that it should be considered 
the ``sponsor'' of the information collection for purposes of the PRA. 
Given the next anticipated Agenda release date of January 11 (two weeks 
prior to the regularly scheduled meeting with primary dealers to 
discuss feedback before the Quarterly Refunding), the agency cannot 
reasonably comply with the normal clearance procedures under the PRA. 
The Treasury's mission to manage the U.S government's finances and 
resources effectively includes financing the government's borrowing 
needs at the lowest cost over time. Treasury meets this objective by 
issuing debt in a regular and predictable pattern, providing 
transparency in its decision-making process, and seeking continuous 
improvements in the Treasury auction process. The risks to regular and 
predictable debt issuance result from unexpected changes in our 
borrowing requirements, changes in the demand for Treasury securities, 
and anything that inhibits timely sales of securities. To reduce these 
risks, Treasury closely monitors economic conditions, market activity, 
and, if necessary, responds with appropriate changes in debt issuance 
based on analysis and consultation with market participants, including 
the primary dealers. Changes in debt management policy are generally 
developed through the quarterly refunding (https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Pages/default.aspx) process near the middle of each calendar quarter. 
Treasury begins this process by soliciting advice and views from the 
private sector through questions to primary dealers (https://www.treasury.gov/resource-center/data-chart-center/quarterly-refunding/Pages/agenda-index.aspx) in the Agenda. If this information were not 
collected, Treasury would not have insight into market expectations for 
debt issuance or other fiscal policy initiatives, nor would the public 
have the aggregate statistics published after the collection of that 
information. When making policy decisions, Treasury takes into account 
market expectations to better understand market demand for Treasury 
securities, capacity to absorb additional issuance when applicable, and 
the magnitude of risk from announcing policies in contrast to 
expectations. Without this information, Treasury's goal of financing 
the government at the lowest cost to the taxpayer would be at risk.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 23.
    Frequency of Response: Quarterly.
    Estimated Total Number of Annual Responses: 92.
    Estimated Time per Response: 2 hours.
    Estimated Total Annual Burden Hours: 184.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: December 21, 2018.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2018-28286 Filed 12-27-18; 8:45 am]
 BILLING CODE 4810-25-P
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