Proposed Agency Information Collection Activities; Comment Request, 21778-21779 [2019-09962]

Download as PDF 21778 Federal Register / Vol. 84, No. 94 / Wednesday, May 15, 2019 / Notices Washington, DC 20503 or by fax to (202) 395–6974. SUPPLEMENTARY INFORMATION: On June 15, 1984, 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, with revision, of the following information collections: Report title: Suspicious Activity Report. Agency form number: FR 2230. OMB control number: 7100–0212. Effective Date: July 27, 2018. Frequency: On occasion. Respondents: State member banks, bank holding companies and their nonbank subsidiaries, Edge and agreement corporations, and the U.S. branches and agencies, representative offices, and nonbank subsidiaries of foreign banks supervised by the Board. Estimated number of respondents: 6,698. Estimated average hours per response: 1.5. Estimated annual burden hours: 439,520. General description of report: Since 1996, the federal banking agencies 1 and the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) have required certain types of financial institutions to report known or suspected violations of law and suspicious transactions. To fulfill these requirements, supervised banking organizations file Bank Secrecy Act— Suspicious Activity Reports (BSA– SARs).2 Law enforcement agencies use the information submitted in the reports to initiate investigations and the Board uses the information in the examination and oversight of supervised institutions. Legal authorization and confidentiality: The FR 2230 is authorized pursuant to the Federal Reserve Act (12 U.S.C. 248(a)(1), 602, 625), the Federal Deposit Insurance Act (12 U.S.C. 1818(s)), the Bank Holding Company Act (12 U.S.C. 1844(c)), and the International Banking Act (12 U.S.C. 3105(c)(2) and 3106(a)). The FR 2230 is mandatory. SARs are confidential and may be withheld pursuant to exemption 3 of the Freedom of Information Act (5 U.S.C. 552(b)(3)), which protects information ‘‘specifically exempted from disclosure’’ by another statute, and by the Bank Secrecy Act (31 U.S.C. 5319), which provides that SARs ‘‘are exempt from disclosure under section 552 of title 5.’’ Current actions: On February 5, 2019, the Board published a notice in the Federal Register (84 FR 1732) requesting public comment for 60 days on the extension, with revision, of the Suspicious Activity Report. The Board’s has revised the FR 2230 to be consistent with changes implemented by FinCEN, which had added, removed, or revised several data fields on the electronically filed SAR. In addition, FinCEN had changed the file format for electronic submission of the SAR by batch filers from ASCII based fixed-length delimited file to an XML based file. The Board has not adopted any changes to the SAR regulatory reporting criteria. Institutions will continue to follow Regulation H (12 CFR 208.62) and filing instructions in determining when to file a report and what information should be included on the report. The comment period for this notice expired on April 8, 2019. The Board did not receive any comments. Board of Governors of the Federal Reserve System, May 9, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–09972 Filed 5–14–19; 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. ACTION: Notice, request for comment. jbell on DSK3GLQ082PROD with NOTICES AGENCY: 1 These agencies include the Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. 2 In 1996, the Board together with the other federal banking agencies issued nearly identical regulations to implement the SAR process for banking organizations. VerDate Sep<11>2014 22:43 May 14, 2019 Jkt 247001 The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the SUMMARY: PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 Recordkeeping Provisions Associated with the Interagency Statement on Complex Structured Finance Activities (FR 4022; OMB No. 7100–0311). This collection of information was formerly titled ‘‘Recordkeeping Requirements Associated with the Interagency Statement on Complex Structured Finance Activities.’’ The Board has changed the title of the collection of information to reflect that the information collections that are the subject of this supporting statement are voluntary. DATES: Comments must be submitted on or before July 15, 2019. ADDRESSES: You may submit comments, identified by FR 4022, by any of the following methods: • Agency website: http:// www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include Office of Management and Budget (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 on 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 146, 1709 New York Avenue 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 Paperwork Reduction Act (PRA) OMB submission, including the proposed reporting form and E:\FR\FM\15MYN1.SGM 15MYN1 Federal Register / Vol. 84, No. 94 / Wednesday, May 15, 2019 / Notices jbell on DSK3GLQ082PROD with NOTICES 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 http://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, OMB delegated to the Board authority under the 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, 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. VerDate Sep<11>2014 22:43 May 14, 2019 Jkt 247001 Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection Report title: Recordkeeping Provisions Associated with the Interagency Statement on Complex Structured Finance Activities. Agency form number: FR 4022. OMB control number: 7100–0311. Frequency: Annual. Respondents: State member banks, bank holding companies (other than foreign banking organizations), savings and loan holding companies (SLHCs), and U.S. branches and agencies of foreign banks. Estimated number of respondents: 18. Estimated average hours per response: 10. Estimated annual burden hours: 180. General description of report: The guidance provides that state member banks, bank holding companies (other than foreign banking organizations), SLHCs, and U.S. branches and agencies of foreign banks supervised by the Board should establish and maintain policies and procedures for identifying, evaluating, assessing, documenting, and controlling risks associated with certain complex structured finance transactions (CSFTs). The guidance states that supervised entities should provide sufficient information and convey reports to the institution’s management and board of directors concerning elevated risks from CSFTs. Legal authorization and confidentiality: The Board is authorized to issue the recordkeeping guidance associated with the Interagency Statement with respect to state member banks pursuant to sections 9(7), 11(a), 21(4), and 25(4) of the Federal Reserve Act (12 U.S.C. 325, 248(a), 483, and 602); with respect to bank holding companies pursuant to section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)); with respect to SLHCs pursuant to section 10(b) and (g) of the Home Owners’ Loan Act (12 U.S.C. 1467a(b) and (g)); and with respect to U.S. branches and agencies of foreign banks pursuant to sections 7(c) and 13(a) of the International Banking Act of 1978 (12 U.S.C. 3105(c) and 3108(a)). Because the recordkeeping provisions are contained within guidance, which is nonbinding, these provisions are voluntary. There are no reporting forms associated with the recordkeeping provisions of the Interagency Statement. Because any policies, procedures, or other records that were voluntarily created pursuant to the guidance in the Interagency Statement would be maintained at each financial institution, PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 21779 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 financial institution. 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 of the FOIA, which protects trade secrets or confidential commercial or financial information that is reasonably likely to result in substantial competitive harm if disclosed (5 U.S.C. 552(b)(4)). Board of Governors of the Federal Reserve System, May 9, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–09962 Filed 5–14–19; 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 Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance (FR K; OMB No. 7100– 0310). The internal Agency Tracking Number previously assigned by the Board to this information collection was ‘‘Reg K.’’ The Board is changing the internal Agency Tracking Number to ‘‘FR K’’ for the purpose of consistency. 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. Office of Management and Budget (OMB) Desk Officer—Shagufta Ahmed— Office of Information and Regulatory Affairs, Office of Management and AGENCY: E:\FR\FM\15MYN1.SGM 15MYN1

Agencies

[Federal Register Volume 84, Number 94 (Wednesday, May 15, 2019)]
[Notices]
[Pages 21778-21779]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-09962]


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

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 Interagency 
Statement on Complex Structured Finance Activities (FR 4022; OMB No. 
7100-0311). This collection of information was formerly titled 
``Recordkeeping Requirements Associated with the Interagency Statement 
on Complex Structured Finance Activities.'' The Board has changed the 
title of the collection of information to reflect that the information 
collections that are the subject of this supporting statement are 
voluntary.

DATES: Comments must be submitted on or before July 15, 2019.

ADDRESSES: You may submit comments, identified by FR 4022, by any of 
the following methods:
     Agency website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include Office of 
Management and Budget (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 on 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 
146, 1709 New York Avenue 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 Paperwork Reduction Act 
(PRA) OMB submission, including the proposed reporting form and

[[Page 21779]]

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 http://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, OMB delegated to the Board 
authority under the 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, 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 
Interagency Statement on Complex Structured Finance Activities.
    Agency form number: FR 4022.
    OMB control number: 7100-0311.
    Frequency: Annual.
    Respondents: State member banks, bank holding companies (other than 
foreign banking organizations), savings and loan holding companies 
(SLHCs), and U.S. branches and agencies of foreign banks.
    Estimated number of respondents: 18.
    Estimated average hours per response: 10.
    Estimated annual burden hours: 180.
    General description of report: The guidance provides that state 
member banks, bank holding companies (other than foreign banking 
organizations), SLHCs, and U.S. branches and agencies of foreign banks 
supervised by the Board should establish and maintain policies and 
procedures for identifying, evaluating, assessing, documenting, and 
controlling risks associated with certain complex structured finance 
transactions (CSFTs). The guidance states that supervised entities 
should provide sufficient information and convey reports to the 
institution's management and board of directors concerning elevated 
risks from CSFTs.
    Legal authorization and confidentiality: The Board is authorized to 
issue the recordkeeping guidance associated with the Interagency 
Statement with respect to state member banks pursuant to sections 9(7), 
11(a), 21(4), and 25(4) of the Federal Reserve Act (12 U.S.C. 325, 
248(a), 483, and 602); with respect to bank holding companies pursuant 
to section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)); 
with respect to SLHCs pursuant to section 10(b) and (g) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(b) and (g)); and with respect to U.S. 
branches and agencies of foreign banks pursuant to sections 7(c) and 
13(a) of the International Banking Act of 1978 (12 U.S.C. 3105(c) and 
3108(a)).
    Because the recordkeeping provisions are contained within guidance, 
which is nonbinding, these provisions are voluntary. There are no 
reporting forms associated with the recordkeeping provisions of the 
Interagency Statement. Because any policies, procedures, or other 
records that were voluntarily created pursuant to the guidance in the 
Interagency Statement would be maintained at each financial 
institution, 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 financial institution. 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 of the FOIA, which protects trade secrets or 
confidential commercial or financial information that is reasonably 
likely to result in substantial competitive harm if disclosed (5 U.S.C. 
552(b)(4)).

    Board of Governors of the Federal Reserve System, May 9, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-09962 Filed 5-14-19; 8:45 am]
BILLING CODE 6210-01-P