Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 720-721 [2019-00364]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 84, Number 21 (Thursday, January 31, 2019)]
[Notices]
[Pages 720-721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-00364]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322).

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 PRA 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, without revision, of the following information collection:
    Report title: Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100-0322.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs), state member banks 
(SMBs), savings and loan holding companies (SLHCs), intermediate 
holding companies, U.S. branches and agencies of foreign banking 
organizations (FBOs), Edge and agreement corporations, nonbank 
financial companies that the Financial Stability Oversight Council 
(FSOC) has determined should be supervised by the Board, or the 
combined domestic operations of FBOs.
    Estimated number of respondents: 5,000.
    Estimated average hours per response: 0.5 hours.
    Estimated annual burden hours: 60,000 hours.
    General description of report: The FR 3052 collects information 
from financial institutions specifically tailored to the Federal 
Reserve's supervisory, regulatory, and operational responsibilities. 
Examples of past surveys include collected information related to 
regulatory capital, operational risk loss event history, and 
transactions by securities dealers. The frequency and content of the 
questions depend on changing economic, regulatory, supervisory, or 
legislative developments.
    The Board utilizes the survey process, as needed, to collect 
information on specific issues that affect its decision-making. The 
principal value of the FR 3052 is the flexibility it provides the 
Federal Reserve to respond quickly to the need for data due to 
unanticipated economic, financial, supervisory, or regulatory 
developments. The Board cannot predict what specific information will 
be needed, but such needs are generally very time sensitive. Because 
the relevant questions may change with each survey, there is no fixed 
reporting form.
    Written qualitative questions or questionnaires may include 
categorical questions, yes-no questions, ordinal questions, and open-
ended questions. Written quantitative surveys may include dollar 
amounts, percentages, numbers of items, interest rates, and other such 
information. Institutions may also be required to provide copies of 
existing documents (for example, pertaining to practices and 
performances for a particular business activity). Before conducting a 
survey, the Board reviews any information to be collected to determine 
if the information is available by other means.
    The Board welcomes feedback from firms on surveys conducted under 
the FR 3052, both formally, through frequently asked questions, and 
informally via outreach sessions, ad-hoc discussions, and emails. As a 
general matter, the Board is unable to guarantee the release of surveys 
under the FR 3052 for notice and comment because of the quick 
turnarounds sometimes required. However, when a survey template is 
available in advance of the planned distribution date, the Board works 
to distribute the template to respondents early for information 
purposes, and when time allows, to obtain feedback.
    Legal authorization and confidentiality: The FR 3052 is authorized 
pursuant to section 9 of the Federal Reserve Act (FRA) (12 U.S.C. 324) 
for SMBs; section 5 of the Bank Holding Company Act (12 U.S.C.

[[Page 721]]

1844(c)(1)(A)) for BHCs and their subsidiaries; section 10 of the Home 
Owners' Loan Act (12 U.S.C. 1467a(b)(1)) for SLHCs and their 
subsidiaries; section 7(c)(2) of International Banking Act (IBA) (12 
U.S.C. 3105(c)(2)) for the U.S. branches and agencies of foreign banks; 
section 8 of the IBA (12 U.S.C. 3106) for foreign banking 
organizations; sections 25 and 25A of the FRA (12 U.S.C. 602 and 625) 
for Edge and agreement corporations; and section 161 of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (12 U.S.C. 5361) for 
nonbank financial companies designated by FSOC for supervision by the 
Board.
    The surveys would be conducted on a voluntary basis. The questions 
asked on each survey would vary, so the ability of the Board to 
maintain the confidentiality of information collected would be 
determined on a case by case basis. It is possible that the information 
collected would constitute confidential commercial or financial 
information, which may be kept confidential under exemption 4 of the 
Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)). In 
circumstances where the Board collects information related to 
individuals, exemption 6 of the FOIA would protect information ``the 
disclosure of which would constitute a clearly unwarranted invasion of 
personal privacy'' (5 U.S.C. 552(b)(6)). To the extent the information 
collected relates to examination, operating, or condition reports 
prepared for the use of an agency supervising financial institutions, 
such information may be kept confidential under exemption 8 of the FOIA 
(5 U.S.C. 552(b)(8)).
    Current actions: On August 28, 2018, the Board published a notice 
in the Federal Register (83 FR 43870) requesting public comment for 60 
days on the extension, without revision, of the Supervisory and 
Regulatory Survey. The comment period for this notice expired on 
October 29, 2018. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, January 17, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-00364 Filed 1-30-19; 8:45 am]
 BILLING CODE 6210-01-P