Proposed Agency Information Collection Activities; Comment Request, 34890-34892 [2019-15365]

Download as PDF 34890 Federal Register / Vol. 84, No. 139 / Friday, July 19, 2019 / Notices Modify Pelagic Longline Bluefin Tuna Area-Based and Weak Hook Management Measures, Comment Period Ends: 09/30/2019, Contact: Jennifer Cudney 727–824–5399 Revision to FR Notice Published 05/ 17/2019; Extending the Comment Period from 07/31/2019 to 09/30/2019. Dated: July 16, 2019. Robert Tomiak, Director, Office of Federal Activities. [FR Doc. 2019–15431 Filed 7–18–19; 8:45 am] BILLING CODE 6560–50–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 Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034; OMB No. 7100–0325). 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. Office of Management and Budget (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. A copy of the Paperwork Reduction Act (PRA) OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files. These documents also are 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 above. 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. Board-approved collections of information are incorporated into the official OMB inventory of currently approved jbell on DSK3GLQ082PROD with NOTICES AGENCY: VerDate Sep<11>2014 18:36 Jul 18, 2019 Jkt 247001 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. Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Senior Credit Officer Opinion Survey on Dealer Financing Terms. Agency form number: FR 2034. OMB control number: 7100–0325. Frequency: Quarterly. Respondents: U.S. financial institutions and U.S. branches and agencies of foreign banks. Estimated number of respondents: 25. Estimated average hours per response: 5. Estimated annual burden hours: 500. General description of report: This survey collects qualitative and limited quantitative information from senior credit officers at responding financial institutions on (1) stringency of credit terms, (2) credit availability and demand across the entire range of securities financing and over-thecounter derivatives transactions, and (3) the evolution of market conditions and conventions applicable to such activities. Given the Board’s interest in financial stability, the information this survey collects is critical to the monitoring of credit markets and capital market activity. Information from the survey is also considered by the Federal Open Market Committee (FOMC) as it sets monetary policy. Aggregate survey results are made available to the public on the Board’s website.1 In addition, selected aggregate survey results may be discussed in Governors’ speeches and may be published in Federal Reserve Bulletin articles and in the semi-annual Monetary Policy Report to the Congress. Legal authorization and confidentiality: The FR 2034 is authorized pursuant to sections 2A and 12A of the Federal Reserve Act (‘‘FRA’’). Section 2A of the FRA requires that the Board and the FOMC maintain long-run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates (12 U.S.C. 225a). Under section 12A of the FRA, the FOMC is required to implement regulations relating to the open market operations conducted by Federal Reserve Banks. 1 See www.federalreserve.gov/econresdata/ releases/scoos.htm. PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 Those transactions must be governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country (12 U.S.C. 263). The Board and the FOMC use the information obtained from the FR 2034 to help fulfill these obligations. The FR 2034 is voluntary. Information collected on the FR 2034 may be granted confidential treatment under exemption (b)(4) of the Freedom of Information Act, 5 U.S.C. 552(b)(4), which protects from disclosure ‘‘trade secrets and commercial or financial information obtained from a person and privileged or confidential.’’ Current actions: On April 17, 2019, the Board published an initial notice in the Federal Register (84 FR 16015) requesting public comment for 60 days on the extension, without revision, of the FR 2034. The comment period for this notice expired on June 17, 2019. The Board did not receive any comments. Board of Governors of the Federal Reserve System, July 15, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–15366 Filed 7–18–19; 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. AGENCY: The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Report of Selected Balance Sheet Items for Discount Window Borrowers (FR 2046; OMB No. 7100–0289). DATES: Comments must be submitted on or before September 17, 2019. ADDRESSES: You may submit comments, identified by FR 2046, 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 the 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 SUMMARY: E:\FR\FM\19JYN1.SGM 19JYN1 Federal Register / Vol. 84, No. 139 / Friday, July 19, 2019 / Notices 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 or to remove personally identifiable information at the commenter’s request. Accordingly, comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper 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 Office of Management and Budget (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. Request for Comment on Information Collection Proposal A copy of the Paperwork Reduction Act (PRA) OMB submission, including the 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. Proposal Under OMB Delegated Authority To Extend for Three Years, With Revision, the Following Information Collection FOR FURTHER INFORMATION CONTACT: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve and assign OMB control numbers to collections of information 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. jbell on DSK3GLQ082PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 18:36 Jul 18, 2019 Jkt 247001 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. Report title: Report of Selected Balance Sheet Items for Discount Window Borrowers. Agency form number: FR 2046. OMB control number: 7100–0289. Frequency: On occasion. Respondents: Depository institutions. Estimated number of respondents: Primary and Secondary Credit, 1; Seasonal Credit, 83; Seasonal Credit, borrower in questionable financial condition, 1. Estimated average hours per response: Primary and Secondary Credit, 0.75 hours; Seasonal Credit, 0.25 hours; Seasonal Credit, borrower in questionable financial condition, 0.75 hours. Estimated annual burden hours: Primary and Secondary Credit, 1 hour; Seasonal Credit, 375 hours; Seasonal Credit, borrower in questionable financial condition, 1 hour. General description of report: The balance sheet data collected on the FR 2046 report from certain institutions that borrow from the discount window are used to monitor discount window PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 34891 borrowing. The Board’s Regulation A, Extensions of Credit by Federal Reserve Banks (12 CFR 201), requires that Reserve Banks review balance sheet data in determining whether to extend credit and to help ascertain whether undue use is made of such credit. The FR 2046 report is primarily used to assess appropriate use of seasonal credit. Certain depository institutions that borrow from the discount window report on the FR 2046 certain balance sheet data for a period that encompasses the dates of borrowing. Proposed revisions: The Board proposes to update data element definitions to account for the introduction of the FFIEC 051 reporting form. In addition, the face of the FR 2046 report will be updated to (1) reflect all of the legal statutes that authorize the collection of the report; (2) indicate that the report is ‘‘authorized’’ (not ‘‘required’’) by law; and (3) clarify that, if the report is requested under the Freedom of Information Act, the report will be treated as confidential unless the borrower’s identity has already been disclosed pursuant to the two year lag provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act.1 Legal authorization and confidentiality: The FR 2046 report is authorized pursuant to sections 4(8), 10B, and 19(b)(7) of the Federal Reserve Act (‘‘FRA’’), 12 U.S.C. 301, 347b, and 461(b)(7), which authorize Federal Reserve Banks to provide discounts or advances to a member bank or other depository institution and to demand notes secured to the satisfaction of each Reserve Bank, and authorize the Board to establish rules and regulations under which a Reserve Bank may extend such credit. Specifically, section 4(8) of the FRA, 12 U.S.C. 301, requires each Reserve Bank to keep itself informed of the general character and amount of the loans and investments of a depository institution ‘‘with a view to ascertaining whether undue use is being made of bank credit,’’ and instructs that, ‘‘in determining whether to grant or refuse advances, rediscounts, or other credit accommodations, the Federal Reserve Bank shall give consideration to such information.’’ Section 4(8) of the FRA also authorizes the Board to ‘‘prescribe regulations further defining . . . the conditions under which discounts, advancements, and the accommodations may be extended to member banks.’’ Section 10B of the FRA, 12 U.S.C. 347b, permits Federal Reserve Banks to make advances to member banks ‘‘under rules and regulations prescribed by the 1 12 E:\FR\FM\19JYN1.SGM U.S.C. 248(s). 19JYN1 34892 Federal Register / Vol. 84, No. 139 / Friday, July 19, 2019 / Notices Board.’’ Section 19(b)(7) of the FRA, 12 U.S.C. 461(b)(7), provides that any depository institutions that hold reservable deposits are entitled to the same discount and borrowing privileges as member banks. Board of Governors of the Federal Reserve System, July 15, 2019. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2019–15397 Filed 7–18–19; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF DEFENSE BILLING CODE 6210–01–P GENERAL SERVICES ADMINISTRATION FEDERAL RESERVE SYSTEM NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [FR Doc. 2019–15365 Filed 7–18–19; 8:45 am] jbell on DSK3GLQ082PROD with NOTICES Board of Governors of the Federal Reserve System, July 16, 2019. Yao-Chin Chao, Assistant Secretary of the Board. Formations of, Acquisitions by, and Mergers of Bank Holding Companies [OMB Control No. 9000–0045; Docket No. 2019–0003; Sequence No. 17] The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The applications will also be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than August 15, 2019. A. Federal Reserve Bank of St. Louis (David L. Hubbard, Senior Manager) P.O. Box 442, St. Louis, Missouri 63166–2034. Comments can also be sent electronically to Comments.applications@stls.frb.org: 1. Farmers Bancorp, Inc., of Marion Kentucky, Marion, Kentucky; to merge with Community Bancorp of Kentucky, Inc., and thereby indirectly acquire First State Bank, Inc., both of Central City, Kentucky. Submission for OMB Review; Bid Guarantees, Performance and Payment Bonds, and Alternative Payment Protections VerDate Sep<11>2014 18:36 Jul 18, 2019 Jkt 247001 Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice. AGENCY: Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to the Office of Management and Budget (OMB) a request to review and approve a renewal of a previously approved information collection requirement regarding bid guarantees, performance and payment bonds, and alternative payment protections. DATES: Submit comments on or before August 19, 2019. ADDRESSES: Submit comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Office of Information and Regulatory Affairs of OMB, Attention: Desk Officer for GSA, Room 10236, NEOB, Washington, DC 20503. Additionally submit a copy to GSA by any of the following methods: • Federal eRulemaking Portal: This website provides the ability to type short comments directly into the comment field or attach a file for lengthier comments. Go to http:// www.regulations.gov and follow the instructions on the site. • Mail: General Services Administration, Regulatory Secretariat Division (MVCB), 1800 F Street NW, Washington, DC 20405. ATTN: Ms. Mandell/IC 9000–0045, Bid Guarantees, Performance and Payment Bonds, and Alternative Payment Protections. Instructions: All items submitted must cite Information Collection 9000– 0045, Bid Guarantees, Performance and SUMMARY: PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 Payment Bonds, and Alternative Payment Protections. Comments received generally will be posted without change to http:// www.regulations.gov, including any personal and/or business confidential information provided. To confirm receipt of your comment(s), please check www.regulations.gov, approximately two-to-three days after submission to verify posting (except allow 30 days for posting of comments submitted by mail). FOR FURTHER INFORMATION CONTACT: Ms. Mahruba Uddowla, Procurement Analyst, at telephone 703–605–2868, or mahruba.uddowla@gsa.gov. SUPPLEMENTARY INFORMATION: A. OMB Number, Title, and Any Associated Form(s) 9000–0045, Bid Guarantees, Performance and Payment Bonds, and Alternative Payment Protections— Standard Forms (SF) 24, 25, 25A, 25B, 34, 35, 273, 274, 275, 1416, and 1418. B. Needs and Uses FAR Subparts 28.1 and 28.2; FAR clauses at 52.228–1, 52.228–2, 52.228– 13, 52.228–14, 52.228–15, 52.228–16; and associated FAR standard forms implement the statutory requirements of the Miller Act (40 U.S.C. 3131 to 3134), which requires performance and payment bonds for any construction contract exceeding $150,000 unless it is impracticable to require bonds for work performed in a foreign country, or it is otherwise authorized by law. In addition, the regulations implement the notice to 40 U.S.C. 3132, entitled ‘‘Alternatives to Payment Bonds Provided by the Federal Acquisition Regulation,’’ which requires alternative payment protection for construction contracts that exceed $35,000 but do not exceed $150,000. Although not required by statute, under certain circumstances the FAR permits the Government to require bonds on other than construction contracts. FAR clause 52.228–1, Bid Guarantee, as prescribed in FAR 28.101–2, requires the bidder to furnish a bid guarantee in the proper form and amount (SF 24, Bid Bond; SF 34, Annual Bid Bond). FAR clause 52.228–2, Additional Bond Security, as prescribed in FAR 28.106–4(a), requires the Contractor to furnish additional bond security under certain circumstances. This clause is used both for construction and other than construction contracts. (SF 1415, Consent of Surety and Increase of Penalty). FAR clause 52.228–13, Alternative Payment Protections, as prescribed in E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 84, Number 139 (Friday, July 19, 2019)]
[Notices]
[Pages 34890-34892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15365]


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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, with revision, 
the Report of Selected Balance Sheet Items for Discount Window 
Borrowers (FR 2046; OMB No. 7100-0289).

DATES: Comments must be submitted on or before September 17, 2019.

ADDRESSES: You may submit comments, identified by FR 2046, 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 the 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

[[Page 34891]]

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 or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any identifying or 
contact information. Public comments may also be viewed electronically 
or in paper 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 
Office of Management and Budget (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 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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information 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, With 
Revision, the Following Information Collection

    Report title: Report of Selected Balance Sheet Items for Discount 
Window Borrowers.
    Agency form number: FR 2046.
    OMB control number: 7100-0289.
    Frequency: On occasion.
    Respondents: Depository institutions.
    Estimated number of respondents: Primary and Secondary Credit, 1; 
Seasonal Credit, 83; Seasonal Credit, borrower in questionable 
financial condition, 1.
    Estimated average hours per response: Primary and Secondary Credit, 
0.75 hours; Seasonal Credit, 0.25 hours; Seasonal Credit, borrower in 
questionable financial condition, 0.75 hours.
    Estimated annual burden hours: Primary and Secondary Credit, 1 
hour; Seasonal Credit, 375 hours; Seasonal Credit, borrower in 
questionable financial condition, 1 hour.
    General description of report: The balance sheet data collected on 
the FR 2046 report from certain institutions that borrow from the 
discount window are used to monitor discount window borrowing. The 
Board's Regulation A, Extensions of Credit by Federal Reserve Banks (12 
CFR 201), requires that Reserve Banks review balance sheet data in 
determining whether to extend credit and to help ascertain whether 
undue use is made of such credit. The FR 2046 report is primarily used 
to assess appropriate use of seasonal credit. Certain depository 
institutions that borrow from the discount window report on the FR 2046 
certain balance sheet data for a period that encompasses the dates of 
borrowing.
    Proposed revisions: The Board proposes to update data element 
definitions to account for the introduction of the FFIEC 051 reporting 
form. In addition, the face of the FR 2046 report will be updated to 
(1) reflect all of the legal statutes that authorize the collection of 
the report; (2) indicate that the report is ``authorized'' (not 
``required'') by law; and (3) clarify that, if the report is requested 
under the Freedom of Information Act, the report will be treated as 
confidential unless the borrower's identity has already been disclosed 
pursuant to the two year lag provided under the Dodd-Frank Wall Street 
Reform and Consumer Protection Act.\1\
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 248(s).
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The FR 2046 report is 
authorized pursuant to sections 4(8), 10B, and 19(b)(7) of the Federal 
Reserve Act (``FRA''), 12 U.S.C. 301, 347b, and 461(b)(7), which 
authorize Federal Reserve Banks to provide discounts or advances to a 
member bank or other depository institution and to demand notes secured 
to the satisfaction of each Reserve Bank, and authorize the Board to 
establish rules and regulations under which a Reserve Bank may extend 
such credit. Specifically, section 4(8) of the FRA, 12 U.S.C. 301, 
requires each Reserve Bank to keep itself informed of the general 
character and amount of the loans and investments of a depository 
institution ``with a view to ascertaining whether undue use is being 
made of bank credit,'' and instructs that, ``in determining whether to 
grant or refuse advances, rediscounts, or other credit accommodations, 
the Federal Reserve Bank shall give consideration to such 
information.'' Section 4(8) of the FRA also authorizes the Board to 
``prescribe regulations further defining . . . the conditions under 
which discounts, advancements, and the accommodations may be extended 
to member banks.'' Section 10B of the FRA, 12 U.S.C. 347b, permits 
Federal Reserve Banks to make advances to member banks ``under rules 
and regulations prescribed by the

[[Page 34892]]

Board.'' Section 19(b)(7) of the FRA, 12 U.S.C. 461(b)(7), provides 
that any depository institutions that hold reservable deposits are 
---------------------------------------------------------------------------
entitled to the same discount and borrowing privileges as member banks.

    Board of Governors of the Federal Reserve System, July 15, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-15365 Filed 7-18-19; 8:45 am]
BILLING CODE 6210-01-P