Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 39847 [2019-17187]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 84, Number 155 (Monday, August 12, 2019)]
[Notices]
[Page 39847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-17187]


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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, with revision, the 
Reporting Requirements Associated with Supervision and Regulation 
Assessments of Fees (Regulation TT) (FR TT; \1\ OMB No. 7100-0369).
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    \1\ The internal Agency Tracking Number previously assigned by 
the Board to this information collection was Reg TT. The Board is 
changing the internal Agency Tracking Number for the purpose of 
consistency.

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DATES: The revisions are applicable immediately.

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.

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 Collection

    Report title: Reporting Requirements Associated with Supervision 
and Regulation Assessments of Fees (Regulation TT).
    Agency form number: FR TT.
    OMB control number: 7100-0369.
    Effective date: Immediately.
    Frequency: On occasion.
    Respondents: Bank holding companies (BHCs) and savings and loan 
holding companies (SLHCs) and all nonbank financial companies 
designated for Board supervision by the Financial Stability Oversight 
Council (FSOC).
    Estimated number of respondents: 3.
    Estimated average hours per response: 40.
    Estimated annual burden hours: 120.
    General description of report: The Board's Regulation TT \2\ 
implements section 11(s) of the Federal Reserve Act (FRA),\3\ which 
directs the Board to collect assessments, fees, or other charges 
(collectively, ``assessments'') from BHCs and SLHCs that meet a 
statutory size threshold and from all nonbank financial companies 
designated for Board supervision by FSOC (collectively, ``assessed 
companies'') in an amount equal to the total expenses the Board 
estimates are necessary or appropriate to carry out its supervisory and 
regulatory responsibilities with respect to such companies. Pursuant to 
Regulation TT, the Board issues an annual notice of assessment to each 
assessed company. Assessed companies may file a written appeal with the 
Board regarding the assessment.\4\
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    \2\ 12 CFR part 246.
    \3\ 12 U.S.C. 248(s). Section 11(s) of the Federal Reserve Act 
was added by section 318 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act.
    \4\ 12 CFR 246.5(b).
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    Legal authorization and confidentiality: The FR TT is authorized 
pursuant to section 11(i) of the FRA (12 U.S.C. 248(i)), which provides 
that the Board shall make all rules and regulations necessary to enable 
the Board to effectively perform the duties, functions, or services 
specified in the FRA. The FR TT is voluntary.
    An assessed company may request confidential treatment of its 
appeal if it believes that disclosure of specific commercial or 
financial information in the statement would likely result in 
substantial harm to its competitive position. The determination that 
such information is confidential and not subject to disclosure under 
the Freedom of Information Act (FOIA) (5 U.S.C. 552), would need to be 
made on a case-by-case basis, consistent with FOIA exemption 4 (5 
U.S.C. 552(b)(4)).
    Current actions: On April 8, 2019, the Board published an initial 
notice in the Federal Register (84 FR 13918) requesting public comment 
for 60 days on the extension, with revision, of Reporting Requirements 
Associated with Supervision and Regulation Assessments of Fees 
(Regulation TT). The comment period for this notice expired on June 7, 
2019. The Board did not receive any comments. The revisions will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, August 7, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-17187 Filed 8-9-19; 8:45 am]
BILLING CODE 6210-01-P