Agency Information Collection Activities; Submission for OMB Review; Comment Request, 47340-47344 [2019-19369]

Download as PDF 47340 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices A copy of any petition filed with the Board should be sent to CSXT’s representative: Louis E. Gitomer, Law Offices of Louis E. Gitomer, LLC, 600 Baltimore Avenue, Suite 301, Towson, MD 21204. If the verified notice contains false or misleading information, the exemption is void ab initio. CSXT has filed a combined environmental and historic report that addresses the effects, if any, of the abandonment on the environment and historic resources. OEA will issue an environmental assessment (EA) by September 13, 2019. Interested persons may obtain a copy of the EA on the Board’s website, by writing to OEA, or by calling OEA at (202) 245–0305. Assistance for the hearing impaired is available through the Federal Relay Service at (800) 877–8339. Comments on environmental and historic preservation matters must be filed within 15 days after the EA becomes available to the public. Environmental, historic preservation, public use, or trail use/rail banking conditions will be imposed, where appropriate, in a subsequent decision. Pursuant to the provisions of 49 CFR 1152.29(e)(2), CSXT shall file a notice of consummation with the Board to signify that it has exercised the authority granted and fully abandoned the Line. If consummation has not been effected by CSXT’s filing of a notice of consummation by September 9, 2020, and there are no legal or regulatory barriers to consummation, the authority to abandon will automatically expire. Board decisions and notices are available at www.stb.gov. Decided: September 4, 2019. By the Board, Allison C. Davis, Director, Office of Proceedings. Jeffrey Herzig, Clearance Clerk. [FR Doc. 2019–19387 Filed 9–6–19; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration jbell on DSK3GLQ082PROD with NOTICES [FAA–2019–0446] Agency Information Collection Activities: Requests for Comments; Clearance of Renewed Approval of Information Collection: Mitsubishi MU– 2B Series Airplane Special Training, Experience, and Operating Procedures Federal Aviation Administration (FAA), DOT ACTION: Notice and request for comments. AGENCY: VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 In accordance with the Paperwork Reduction Act of 1995, FAA invites public comments about our intention to request the Office of Management and Budget (OMB) approval to renew an information collection. The Federal Register Notice with a 60-day comment period soliciting comments on the following collection of information was published on June 27, 2019. The collection of information is necessary to document participation in, completion of, and compliance with the pilot training program for the MU–2B series airplane. DATES: Written comments should be submitted by October 9, 2019. ADDRESSES: Interested persons are invited to submit written comments on the proposed information collection to the Office of Information and Regulatory Affairs, Office of Management and Budget. Comments should be addressed to the attention of the Desk Officer, Department of Transportation/FAA, and sent via electronic mail to oira_ submission@omb.eop.gov, or faxed to (202) 395–6974, or mailed to the Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 17th Street NW, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Joseph K. Hemler by email at: joseph.k.hemler-jr@faa.gov; phone: 202– 267–0159. SUPPLEMENTARY INFORMATION: 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 FAA’s performance; (b) the accuracy of the estimated burden; (c) ways for FAA 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. OMB Control Number: 2120–0725. Title: Mitsubishi MU–2B Series Airplane Special Training, Experience, and Operating Procedures. Form Numbers: There are no FAA forms associated with this collection. Type of Review: Renewal. Background: The Federal Register Notice with a 60-day comment period soliciting comments on the following collection of information was published on June 27, 2019 (84 FR 30787). No comments were received. In response to the increasing number of accidents and incidents involving the Mitsubishi MU– 2B series airplane, the Federal Aviation SUMMARY: PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 Administration (FAA) began a safety evaluation of the MU–2B in July of 2005. As a result of this safety evaluation, on February 6, 2008 the FAA issued Special Federal Aviation Regulation No. 108—Mitsubishi MU–2B Series Special Training, Experience, and Operating Requirements. This Special Federal Aviation Regulation (SFAR) established a standardized pilot training program. The collection of information is necessary to document participation in, completion of, and compliance with the pilot training program for the MU– 2B under subpart N of 14 CFR part 91, issued on September 7, 2016, which superseded SFAR No. 108. Respondents: Approximately 20 part 91 training providers, and approximately 400 active MU–2 pilots. Frequency: Every year (pilots); every two years (training providers). Estimated Average Burden per Response: Pilots: Logbook endorsement and training course final phase check = 10 minutes. Training providers: Submission of training program = 4 hours. Estimated Total Annual Burden: Pilots: 67 hours. Training providers: 40 hours. Total: 107 hours. Issued in Washington, DC on September 4, 2019. Dwayne C. Morris, Project Manager, Flight Standards Service, General Aviation and Commercial Division. [FR Doc. 2019–19371 Filed 9–6–19; 8:45 am] BILLING CODE 4910–13–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities; Submission for OMB Review; Comment Request Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint notice and request for comment. AGENCY: In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it SUMMARY: E:\FR\FM\09SEN1.SGM 09SEN1 jbell on DSK3GLQ082PROD with NOTICES Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices displays a currently valid Office of Management and Budget (OMB) control number. On April 29, 2019, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to extend for three years, without revision, the Country Exposure Report (FFIEC 009) and the Country Exposure Information Report (FFIEC 009a), which are currently approved collections of information. The comment period for this notice expired on June 28, 2019. As described in the SUPPLEMENTARY INFORMATION section, after considering the comments received on the proposal, the FFIEC and agencies will proceed with the extension of the FFIEC 009 and FFIEC 009a with modifications in response to comments. In addition, the agencies are giving notice that they are sending the collections to OMB for review. DATES: Comments must be submitted by October 9, 2019. ADDRESSES: Interested parties are invited to submit written comments to any or all of the agencies. All comments, which should refer to the OMB control number(s), will be shared among the agencies. OCC: You may submit comments, which should refer to ‘‘FFIEC 009 and FFIEC 009a,’’ by any of the following methods: • Email: prainfo@occ.treas.gov. • Mail: Chief Counsel’s Office, Office of the Comptroller of the Currency, Attention: 1557–0100, 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Hand Delivery/Courier: 400 7th Street SW, Suite 3E–218, Washington, DC 20219. Instructions: You must include ‘‘OCC’’ as the agency name and ‘‘1557– 0100’’ in your comment. In general, the OCC will publish comments on www.reginfo.gov without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. You may review comments and other related materials that pertain to this information collection beginning on the date of publication of the second notice for this collection by any of the following methods: VerDate Sep<11>2014 21:41 Sep 06, 2019 Jkt 247001 • Viewing Comments Electronically: Go to www.reginfo.gov. Click on the ‘‘Information Collection Review’’ tab. Underneath the ‘‘Currently under Review’’ section heading, from the dropdown menu select ‘‘Department of Treasury’’ and then click ‘‘submit.’’ This information collection can be located by searching by OMB control number ‘‘1557–0100’’ or ‘‘FFIEC 009 and FFIEC 009a.’’ Upon finding the appropriate information collection, click on the related ‘‘ICR Reference Number.’’ On the next screen, select ‘‘View Supporting Statement and Other Documents’’ and then click on the link to any comment listed at the bottom of the screen. • For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482–7340. • Viewing Comments Personally: You may personally inspect comments at the OCC, 400 7th Street SW, Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649–6700 or, for persons who are deaf or hearing impaired, TTY, (202) 649–5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect comments. Board: You may submit comments, which should refer to ‘‘FFIEC 009 and FFIEC 009a,’’ by any of the following methods: • Agency Website: http:// www.federalreserve.gov. Follow the instructions for submitting comments at: http://www.federalreserve.gov/ generalinfo/foia/ProposedRegs.cfm. • Email: regs.comments@ federalreserve.gov. Include ‘‘FFIEC 009 and FFIEC 009a’’ 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 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 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 47341 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. FDIC: You may submit comments, which should refer to ‘‘FFIEC 009 and FFIEC 009a,’’ by any of the following methods: • Agency website: https:// www.fdic.gov/regulations/laws/federal/. Follow the instructions for submitting comments on the FDIC’s website. • Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions for submitting comments. • Email: comments@FDIC.gov. Include ‘‘FFIEC 009 and FFIEC 009a’’ in the subject line of the message. • Mail: Manuel E. Cabeza, Counsel, Attn: Comments, Room MB–3128, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. • Hand Delivery: Comments may be hand delivered to the guard station at the rear of the 550 17th Street Building (located on F Street) on business days between 7:00 a.m. and 5:00 p.m. Public Inspection: All comments received will be posted without change to https://www.fdic.gov/regulations/ laws/federal/, including any personal information provided. Paper copies of public comments may be requested from the FDIC Public Information Center, 3501 North Fairfax Drive, Arlington, VA 22226, or by telephone at (877) 275– 3342 or (703) 562–2200. Additionally, commenters may send a copy of their comments to the OMB desk officers for the agencies by mail to the Office of Information and Regulatory Affairs, U.S. Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503; by fax to (202) 395–6974; or by email to oira_ submission@omb.eop.gov. FOR FURTHER INFORMATION CONTACT: For further information about the information collections discussed in this notice, please contact any of the agency staff whose names appear below. In addition, copies of the FFIEC 009 and FFIEC 009a reporting forms can be obtained at the FFIEC’s website (https:// www.ffiec.gov/ffiec_report_forms.htm). OCC: Kevin Korzeniewski, Counsel, Chief Counsel’s Office, (202) 649–5490, or for persons who are deaf or hearing impaired, TTY, (202) 649–5597. Board: Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, (202) 452–3884, Office of the Chief Data E:\FR\FM\09SEN1.SGM 09SEN1 jbell on DSK3GLQ082PROD with NOTICES 47342 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices Officer, Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. FDIC: Manuel E. Cabeza, Counsel, (202) 898–3767, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. SUPPLEMENTARY INFORMATION: On April 29, 2019, the agencies requested public comment on a proposal to extend for three years, without revision, the FFIEC 009 and FFIEC 009a. The agencies received one comment letter. The commenter, a banking trade association, raised issues related to consistency in certain defined terms and reporting treatments between the FFIEC 009 and FFIEC 009a, and other information collections undertaken by the FFIEC, its member entities, and Treasury. First, the commenter stated that, while the FFIEC 009 and FFIEC 009a instructions define domicile of counterparties on the basis of ‘‘country of incorporation or charter,’’ the definition is not uniform across all FFIEC and Board reports. This definition, while consistent with that used in some non-FFIEC reports (i.e., Treasury International Capital or ‘‘TIC’’ reports and the Board’s FR Y–15), is inconsistent with the terms ‘‘principal business address’’ and ‘‘country in which the obligor is headquartered’’ used in the Call Report 1 as well as the Board’s FR Y–9C and FR Y–14Q. The agencies believe the definition of domicile using ‘‘country of incorporation or charter’’ provides a clearer basis for determination of domicile and a more consistent basis over time for the purposes of the FFIEC 009 and FFIEC 009a, which is designed to provide a more detailed and accurate view of cross-border country exposures than the other reports. Accordingly, the agencies propose to retain the ‘‘country of incorporation or charter’’ definition for reporting the domicile of counterparties in the FFIEC 009 and FFIEC 009a instructions. Second, the commenter stated the FFIEC 009 and FFIEC 009a instructions, in defining financial institutions for sector reporting, include some different categories of institutions in the nonbank financial institutions sector when compared to three Board reports (FR Y– 15, FR 2510, and FR Y–9C). The FFIEC 009 instructions specifically include private equity companies, finance companies, and mortgage companies along with other types of institutions in the definition of non-bank financial 1 The Consolidated Reports of Condition and Income, also referred to as the FFIEC 031, FFIEC 041, and FFIEC 051 reports. VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 institutions, while the instructions for the Board’s FR Y–15 specifically exclude finance companies and do not mention private equity companies or mortgage companies in the definition of ‘‘financial institutions’’ used in specifying interconnectedness indicators (Schedule B). The agencies note that the definition of non-bank financial institutions in the Board’s FR 2510 corresponds to the definition used in the FFIEC 009, and the definition of ‘‘non-depository financial institutions’’ used in the Board’s FR Y–9C (Schedule HC–C) includes finance companies, mortgage companies, and mortgage finance companies among other types of institutions. The agencies believe that private equity companies, finance companies, and mortgage companies are meaningful components of the non-bank financial sector for purposes of the FFIEC 009 and that collected data on exposures to these types of companies would be less useful if included together with the corporate sector. The agencies also note that it is important for data collected in the FFIEC 009 to be comparable to data gathered for the same purpose by other jurisdictions, so that these data can be combined by the Bank for International Settlements (BIS) into meaningful global aggregate statistical data that are issued as the BIS Consolidated Banking Statistics (CBS); these aggregate data are relied upon by FFIEC member entities (including the agencies) and many others to monitor and analyze global banking and financial conditions. The definition in the FFIEC 009 instructions of these types of companies as non-bank financial companies conforms with the definition under the CBS. Therefore, the agencies propose to retain the definition of non-bank financial sector that includes these types of companies. Third, the commenter stated that, as a result of a recent change in U.S. generally accepted accounting principles (GAAP), the FFIEC 009 and FFIEC 009a would collect operating lease liabilities without capturing corresponding operating lease assets. The commenter considered this treatment to be inappropriately asymmetric and recommended that operating lease liabilities be excluded from reporting on Schedule L of the FFIEC 009. The agencies agree that operating lease right-of-use assets should properly be excluded from reporting on the FFIEC 009, like other fixed assets, but believes that operating lease liabilities are now reportable as liabilities under GAAP, and thus should be included in foreign liabilities for purposes of the FFIEC 009. Unlike PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 financial-statement collections such as the Call Report or the Board’s FR Y–9C, the FFIEC 009 is designed to collect additional detail for specific types of claims and liabilities and not to reflect a comprehensive and symmetric balance sheet. Therefore, the agencies propose to not exclude operating lease liabilities from Schedule L of the FFIEC 009. Fourth, the commenter noted that Schedule L of the FFIEC 009 requires reporting of short sales by country of the counterparty to which the foreign office owes delivery until the settlement date. The commenter believed this treatment to be inconsistent with the corresponding treatment in the Board’s FR 2510, which provides that the immediate counterparty country and sector for short sale contracts are those of the issuer of the financial instrument that has been sold short. The commenter recommended that the reporting of short sales in Schedule L of the FFIEC 009 should be revised to conform with the treatment provided in the Board’s FR 2510. The agencies also note that the reporting of short sales in the Board’s FR 2510 is consistent with the BIS guidelines for reporting CBS data (‘‘CBS Guidelines’’).2 Therefore, the agencies agree with the commenter and propose to revise the instructions for Schedule L so that reporting of short sales is based on the immediate counterparty and sector of the issuer rather than that of the counterparty to the short-sale transaction. Fifth, the commenter noted a difference in treatment between the FFIEC 009 and U.S. GAAP for netting trading assets against trading liabilities in the same security (i.e., Committee on Uniform Security Identification Procedures (CUSIP) netting) and stated that changing the FFIEC 009 instructions to align with netting under U.S. GAAP would reduce the burden on banking organizations required to report the FFIEC 009. To address this concern, the commenter recommended that CUSIP netting for purposes of the FFIEC 009 be aligned with netting permitted under U.S. GAAP to simplify the currently required operational and reconciliation processes. The agencies believe that aligning CUSIP netting with U.S. GAAP for country exposure reporting would potentially distort such reporting in cases in which the office holding the position, the issuer of the underlying security, and the counterparty to the short position are not the same. The agencies also note 2 BIS, Monetary and Economic Department, Reporting guidelines for the BIS international banking statistics (July 2019) available at https:// www.bis.org/statistics/bankstatsguide.pdf. E:\FR\FM\09SEN1.SGM 09SEN1 jbell on DSK3GLQ082PROD with NOTICES Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices that it is important for data collected in the FFIEC 009 to be comparable to data gathered for the same purpose by other jurisdictions, so that these data can be combined by the BIS into meaningful global aggregate statistical data as the CBS. Aligning CUSIP netting with U.S. GAAP for country exposure reporting by U.S. banking organizations in the FFIEC 009 would create a key inconsistency between U.S. data and data provided by other jurisdictions which adhere to International Financial Reporting Standards (IFRS) because IFRS does not allow for CUSIP netting. Therefore, the agencies propose to retain the current, more limited use of CUSIP netting described in the FFIEC 009 instructions. Finally, the commenter suggested that items to be excluded under Schedule C and Schedule L of the FFIEC 009 should be more specifically identified and the list of exclusions should be expanded. The commenter recommended that certain cross-border claims (i.e., bankowned or company-owned life insurance, deferred tax assets, physical commodities held in inventory, initial margin, pension assets, and cash in vault) should be excluded from Schedule C of the FFIEC 009 and that deferred tax liabilities should be excluded from Schedule L. As a general matter, the agencies believe that the decision to include or exclude items as in Schedule C of the FFIEC 009 should be based on whether the items represent financial claims (or, for Schedule L, foreign office financial liabilities) in order to provide a proper and meaningful basis for the agencies to analyze country exposure, and should be consistent with the CBS Guidelines in order that data collected in the FFIEC 009 and FFIEC 009a would be comparable with data being provided to CBS by other jurisdictions. In this context, the agencies agree with the commenter that bank-owned and company-owned life insurance, physical commodities held in inventory, and pension assets should not be considered financial claims for purposes of the FFIEC 009 and FFIEC 009a. Therefore, the agencies propose to revise the instructions to exclude these items from reporting in the FFIEC 009 and FFIEC 009a by adding them to the list of ‘‘Exclude’’ items in section II.A of the instructions to the FFIEC 009. The agencies do not agree with the commenter with regard to initial margin because the agencies believe that initial margin represents a financial claim like others related to derivatives. The agencies therefore propose that initial margin should continue to be reported as part of derivative claims in Schedule D. VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 The agencies believe that cash in vault represents a financial claim and, moreover, that this claim is subject to transfer risk, an important element of the risks that may be associated with cross-border financial claims. As a result, the agencies do not agree with the commenter and propose that cash in vault should continue to be reported in the FFIEC 009 and FFIEC 009a. Finally, the agencies do not agree with the commenter that deferred tax assets and liabilities are not financial claims. In addition, the agencies note that deferred tax assets and liabilities are specifically identified in the CBS Guidelines as reportable claims (liabilities). Therefore, the agencies propose to retain the current inclusion of deferred tax assets and liabilities among reportable items in the FFIEC 009 and FFIEC 009a. To provide sufficient time for respondents to make any changes to their reporting systems that may be needed to reflect the agencies’ proposed instructional revisions discussed above, the agencies will permit respondents to file the FFIEC 009 and FFIEC 009a for the periods ending September 30, 2019, and December 31, 2019, using either the existing definitions or the revised definitions for the items discussed above. Report Titles: Country Exposure Report and Country Exposure Information Report. Form Numbers: FFIEC 009 and FFIEC 009a. Frequency of Response: Quarterly. Affected Public: Business or other for profit. OCC OMB Number: 1557–0100. Estimated Number of Respondents: 11 (FFIEC 009), 5 (FFIEC 009a). Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours (FFIEC 009a). Estimated Total Annual Burden: 5,764 hours (FFIEC 009), 120 hours (FFIEC 009a). Board OMB Number: 7100–0035. Estimated Number of Respondents: 49 (FFIEC 009), 35 (FFIEC 009a). Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours (FFIEC 009a). Estimated Total Annual Burden: 25,676 hours (FFIEC 009), 840 hours (FFIEC 009a). FDIC OMB Number: 3064–0017. Estimated Number of Respondents: 15 (FFIEC 009), 12 (FFIEC 009a). PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 47343 Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours (FFIEC 009a). Estimated Total Annual Burden: 7,860 hours (FFIEC 009), 288 hours (FFIEC 009a). General Description of Reports The Country Exposure Report (FFIEC 009) is filed quarterly with the agencies and provides information on international claims of U.S. banks, savings associations, bank holding companies, savings and loan holding companies, and intermediate holding companies (U.S. banking organizations) that is used for supervisory and analytical purposes. The information is used to monitor the foreign country exposures of reporting institutions to determine the degree of risk in their portfolios and assess the potential risk of loss. Information reported in the FFIEC 009 also serves as the source for country risk exposure data for U.S. banking organizations that the BIS combines with comparable data from other jurisdictions into global aggregate statistical data on country risk exposure as the BIS CBS. The Country Exposure Information Report (FFIEC 009a) is a supplement to the FFIEC 009 and provides publicly available information on material foreign country exposures (all exposures to a country in excess of 1 percent of total assets or 20 percent of capital, whichever is less) of U.S. banking organizations that file the FFIEC 009 report. As part of the Country Exposure Information Report, reporting institutions also must furnish a list of countries in which they have lending exposures above 0.75 percent of total assets or 15 percent of total capital, whichever is less. Statutory Basis and Confidential Treatment These information collections are mandatory under the following statutes: 12 U.S.C. 161 and 1817 (national banks), 12 U.S.C. 1464 (federal savings associations), 12 U.S.C. 248(a)(1) and (2), 1844(c), and 3906 (state member banks and bank holding companies); 12 U.S.C. 1467a(b)(2)(A) (savings and loan holding companies); 12 U.S.C. 5365(a) (intermediate holding companies); and 12 U.S.C. 1817 and 1820 (insured state nonmember commercial and savings banks and insured state savings associations). The FFIEC 009 information collection is given confidential treatment (5 U.S.C. 552(b)(4) and (b)(8)). The FFIEC 009a information collection is not given confidential treatment. E:\FR\FM\09SEN1.SGM 09SEN1 47344 Federal Register / Vol. 84, No. 174 / Monday, September 9, 2019 / Notices Request for Comment jbell on DSK3GLQ082PROD with NOTICES The agencies invite comment on the following topics related to these collections of information: (a) Whether the information collections are necessary for the proper performance of the agencies’ functions, including whether the information has practical utility; (b) The accuracy of the agencies’ estimates of the burden of the information collections, including the validity of the methodology and assumptions used; VerDate Sep<11>2014 20:43 Sep 06, 2019 Jkt 247001 (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Comments submitted in response to this joint notice will be shared among the agencies. All comments will become a matter of public record. PO 00000 Frm 00112 Fmt 4703 Sfmt 9990 Dated: August 30, 2019 Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System, September 3, 2019. Ann Misback, Secretary of the Board. Federal Deposit Insurance Corporation. Dated at Washington, DC, on September 3, 2019. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2019–19369 Filed 9–6–19; 8:45 am] BILLING CODE 4810–33–6210–01–6714–01–P E:\FR\FM\09SEN1.SGM 09SEN1

Agencies

[Federal Register Volume 84, Number 174 (Monday, September 9, 2019)]
[Notices]
[Pages 47340-47344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19369]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); and Federal 
Deposit Insurance Corporation (FDIC).

ACTION: Joint notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may 
not conduct or sponsor, and the respondent is not required to respond 
to, an information collection unless it

[[Page 47341]]

displays a currently valid Office of Management and Budget (OMB) 
control number. On April 29, 2019, the agencies, under the auspices of 
the Federal Financial Institutions Examination Council (FFIEC), 
requested public comment for 60 days on a proposal to extend for three 
years, without revision, the Country Exposure Report (FFIEC 009) and 
the Country Exposure Information Report (FFIEC 009a), which are 
currently approved collections of information. The comment period for 
this notice expired on June 28, 2019. As described in the SUPPLEMENTARY 
INFORMATION section, after considering the comments received on the 
proposal, the FFIEC and agencies will proceed with the extension of the 
FFIEC 009 and FFIEC 009a with modifications in response to comments. In 
addition, the agencies are giving notice that they are sending the 
collections to OMB for review.

DATES: Comments must be submitted by October 9, 2019.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the OMB 
control number(s), will be shared among the agencies.
    OCC: You may submit comments, which should refer to ``FFIEC 009 and 
FFIEC 009a,'' by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Office of the Comptroller of 
the Currency, Attention: 1557-0100, 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0100'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.
    You may review comments and other related materials that pertain to 
this information collection beginning on the date of publication of the 
second notice for this collection by any of the following methods:
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0100'' or ``FFIEC 009 and FFIEC 009a.'' Upon finding the 
appropriate information collection, click on the related ``ICR 
Reference Number.'' On the next screen, select ``View Supporting 
Statement and Other Documents'' and then click on the link to any 
comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. For security 
reasons, the OCC requires that visitors make an appointment to inspect 
comments. You may do so by calling (202) 649-6700 or, for persons who 
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival, 
visitors will be required to present valid government-issued photo 
identification and submit to security screening in order to inspect 
comments.
    Board: You may submit comments, which should refer to ``FFIEC 009 
and FFIEC 009a,'' by any of the following methods:
     Agency Website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at: http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Email: [email protected]. Include ``FFIEC 
009 and FFIEC 009a'' 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 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.
    FDIC: You may submit comments, which should refer to ``FFIEC 009 
and FFIEC 009a,'' by any of the following methods:
     Agency website: https://www.fdic.gov/regulations/laws/federal/. Follow the instructions for submitting comments on the FDIC's 
website.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include ``FFIEC 009 and FFIEC 
009a'' in the subject line of the message.
     Mail: Manuel E. Cabeza, Counsel, Attn: Comments, Room MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW, 
Washington, DC 20429.
     Hand Delivery: Comments may be hand delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street) on business days between 7:00 a.m. and 5:00 p.m.
    Public Inspection: All comments received will be posted without 
change to https://www.fdic.gov/regulations/laws/federal/, including any 
personal information provided. Paper copies of public comments may be 
requested from the FDIC Public Information Center, 3501 North Fairfax 
Drive, Arlington, VA 22226, or by telephone at (877) 275-3342 or (703) 
562-2200.
    Additionally, commenters may send a copy of their comments to the 
OMB desk officers for the agencies by mail to the Office of Information 
and Regulatory Affairs, U.S. Office of Management and Budget, New 
Executive Office Building, Room 10235, 725 17th Street NW, Washington, 
DC 20503; by fax to (202) 395-6974; or by email to 
[email protected].

FOR FURTHER INFORMATION CONTACT: For further information about the 
information collections discussed in this notice, please contact any of 
the agency staff whose names appear below. In addition, copies of the 
FFIEC 009 and FFIEC 009a reporting forms can be obtained at the FFIEC's 
website (https://www.ffiec.gov/ffiec_report_forms.htm).
    OCC: Kevin Korzeniewski, Counsel, Chief Counsel's Office, (202) 
649-5490, or for persons who are deaf or hearing impaired, TTY, (202) 
649-5597.
    Board: Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, 
(202) 452-3884, Office of the Chief Data

[[Page 47342]]

Officer, Board of Governors of the Federal Reserve System, 20th and C 
Streets NW, Washington, DC 20551.
    FDIC: Manuel E. Cabeza, Counsel, (202) 898-3767, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION: On April 29, 2019, the agencies requested 
public comment on a proposal to extend for three years, without 
revision, the FFIEC 009 and FFIEC 009a. The agencies received one 
comment letter.
    The commenter, a banking trade association, raised issues related 
to consistency in certain defined terms and reporting treatments 
between the FFIEC 009 and FFIEC 009a, and other information collections 
undertaken by the FFIEC, its member entities, and Treasury.
    First, the commenter stated that, while the FFIEC 009 and FFIEC 
009a instructions define domicile of counterparties on the basis of 
``country of incorporation or charter,'' the definition is not uniform 
across all FFIEC and Board reports. This definition, while consistent 
with that used in some non-FFIEC reports (i.e., Treasury International 
Capital or ``TIC'' reports and the Board's FR Y-15), is inconsistent 
with the terms ``principal business address'' and ``country in which 
the obligor is headquartered'' used in the Call Report \1\ as well as 
the Board's FR Y-9C and FR Y-14Q. The agencies believe the definition 
of domicile using ``country of incorporation or charter'' provides a 
clearer basis for determination of domicile and a more consistent basis 
over time for the purposes of the FFIEC 009 and FFIEC 009a, which is 
designed to provide a more detailed and accurate view of cross-border 
country exposures than the other reports. Accordingly, the agencies 
propose to retain the ``country of incorporation or charter'' 
definition for reporting the domicile of counterparties in the FFIEC 
009 and FFIEC 009a instructions.
---------------------------------------------------------------------------

    \1\ The Consolidated Reports of Condition and Income, also 
referred to as the FFIEC 031, FFIEC 041, and FFIEC 051 reports.
---------------------------------------------------------------------------

    Second, the commenter stated the FFIEC 009 and FFIEC 009a 
instructions, in defining financial institutions for sector reporting, 
include some different categories of institutions in the non-bank 
financial institutions sector when compared to three Board reports (FR 
Y-15, FR 2510, and FR Y-9C). The FFIEC 009 instructions specifically 
include private equity companies, finance companies, and mortgage 
companies along with other types of institutions in the definition of 
non-bank financial institutions, while the instructions for the Board's 
FR Y-15 specifically exclude finance companies and do not mention 
private equity companies or mortgage companies in the definition of 
``financial institutions'' used in specifying interconnectedness 
indicators (Schedule B). The agencies note that the definition of non-
bank financial institutions in the Board's FR 2510 corresponds to the 
definition used in the FFIEC 009, and the definition of ``non-
depository financial institutions'' used in the Board's FR Y-9C 
(Schedule HC-C) includes finance companies, mortgage companies, and 
mortgage finance companies among other types of institutions. The 
agencies believe that private equity companies, finance companies, and 
mortgage companies are meaningful components of the non-bank financial 
sector for purposes of the FFIEC 009 and that collected data on 
exposures to these types of companies would be less useful if included 
together with the corporate sector. The agencies also note that it is 
important for data collected in the FFIEC 009 to be comparable to data 
gathered for the same purpose by other jurisdictions, so that these 
data can be combined by the Bank for International Settlements (BIS) 
into meaningful global aggregate statistical data that are issued as 
the BIS Consolidated Banking Statistics (CBS); these aggregate data are 
relied upon by FFIEC member entities (including the agencies) and many 
others to monitor and analyze global banking and financial conditions. 
The definition in the FFIEC 009 instructions of these types of 
companies as non-bank financial companies conforms with the definition 
under the CBS. Therefore, the agencies propose to retain the definition 
of non-bank financial sector that includes these types of companies.
    Third, the commenter stated that, as a result of a recent change in 
U.S. generally accepted accounting principles (GAAP), the FFIEC 009 and 
FFIEC 009a would collect operating lease liabilities without capturing 
corresponding operating lease assets. The commenter considered this 
treatment to be inappropriately asymmetric and recommended that 
operating lease liabilities be excluded from reporting on Schedule L of 
the FFIEC 009. The agencies agree that operating lease right-of-use 
assets should properly be excluded from reporting on the FFIEC 009, 
like other fixed assets, but believes that operating lease liabilities 
are now reportable as liabilities under GAAP, and thus should be 
included in foreign liabilities for purposes of the FFIEC 009. Unlike 
financial-statement collections such as the Call Report or the Board's 
FR Y-9C, the FFIEC 009 is designed to collect additional detail for 
specific types of claims and liabilities and not to reflect a 
comprehensive and symmetric balance sheet. Therefore, the agencies 
propose to not exclude operating lease liabilities from Schedule L of 
the FFIEC 009.
    Fourth, the commenter noted that Schedule L of the FFIEC 009 
requires reporting of short sales by country of the counterparty to 
which the foreign office owes delivery until the settlement date. The 
commenter believed this treatment to be inconsistent with the 
corresponding treatment in the Board's FR 2510, which provides that the 
immediate counterparty country and sector for short sale contracts are 
those of the issuer of the financial instrument that has been sold 
short. The commenter recommended that the reporting of short sales in 
Schedule L of the FFIEC 009 should be revised to conform with the 
treatment provided in the Board's FR 2510. The agencies also note that 
the reporting of short sales in the Board's FR 2510 is consistent with 
the BIS guidelines for reporting CBS data (``CBS Guidelines'').\2\ 
Therefore, the agencies agree with the commenter and propose to revise 
the instructions for Schedule L so that reporting of short sales is 
based on the immediate counterparty and sector of the issuer rather 
than that of the counterparty to the short-sale transaction.
---------------------------------------------------------------------------

    \2\ BIS, Monetary and Economic Department, Reporting guidelines 
for the BIS international banking statistics (July 2019) available 
at https://www.bis.org/statistics/bankstatsguide.pdf.
---------------------------------------------------------------------------

    Fifth, the commenter noted a difference in treatment between the 
FFIEC 009 and U.S. GAAP for netting trading assets against trading 
liabilities in the same security (i.e., Committee on Uniform Security 
Identification Procedures (CUSIP) netting) and stated that changing the 
FFIEC 009 instructions to align with netting under U.S. GAAP would 
reduce the burden on banking organizations required to report the FFIEC 
009. To address this concern, the commenter recommended that CUSIP 
netting for purposes of the FFIEC 009 be aligned with netting permitted 
under U.S. GAAP to simplify the currently required operational and 
reconciliation processes. The agencies believe that aligning CUSIP 
netting with U.S. GAAP for country exposure reporting would potentially 
distort such reporting in cases in which the office holding the 
position, the issuer of the underlying security, and the counterparty 
to the short position are not the same. The agencies also note

[[Page 47343]]

that it is important for data collected in the FFIEC 009 to be 
comparable to data gathered for the same purpose by other 
jurisdictions, so that these data can be combined by the BIS into 
meaningful global aggregate statistical data as the CBS. Aligning CUSIP 
netting with U.S. GAAP for country exposure reporting by U.S. banking 
organizations in the FFIEC 009 would create a key inconsistency between 
U.S. data and data provided by other jurisdictions which adhere to 
International Financial Reporting Standards (IFRS) because IFRS does 
not allow for CUSIP netting. Therefore, the agencies propose to retain 
the current, more limited use of CUSIP netting described in the FFIEC 
009 instructions.
    Finally, the commenter suggested that items to be excluded under 
Schedule C and Schedule L of the FFIEC 009 should be more specifically 
identified and the list of exclusions should be expanded. The commenter 
recommended that certain cross-border claims (i.e., bank-owned or 
company-owned life insurance, deferred tax assets, physical commodities 
held in inventory, initial margin, pension assets, and cash in vault) 
should be excluded from Schedule C of the FFIEC 009 and that deferred 
tax liabilities should be excluded from Schedule L.
    As a general matter, the agencies believe that the decision to 
include or exclude items as in Schedule C of the FFIEC 009 should be 
based on whether the items represent financial claims (or, for Schedule 
L, foreign office financial liabilities) in order to provide a proper 
and meaningful basis for the agencies to analyze country exposure, and 
should be consistent with the CBS Guidelines in order that data 
collected in the FFIEC 009 and FFIEC 009a would be comparable with data 
being provided to CBS by other jurisdictions.
    In this context, the agencies agree with the commenter that bank-
owned and company-owned life insurance, physical commodities held in 
inventory, and pension assets should not be considered financial claims 
for purposes of the FFIEC 009 and FFIEC 009a. Therefore, the agencies 
propose to revise the instructions to exclude these items from 
reporting in the FFIEC 009 and FFIEC 009a by adding them to the list of 
``Exclude'' items in section II.A of the instructions to the FFIEC 009.
    The agencies do not agree with the commenter with regard to initial 
margin because the agencies believe that initial margin represents a 
financial claim like others related to derivatives. The agencies 
therefore propose that initial margin should continue to be reported as 
part of derivative claims in Schedule D.
    The agencies believe that cash in vault represents a financial 
claim and, moreover, that this claim is subject to transfer risk, an 
important element of the risks that may be associated with cross-border 
financial claims. As a result, the agencies do not agree with the 
commenter and propose that cash in vault should continue to be reported 
in the FFIEC 009 and FFIEC 009a.
    Finally, the agencies do not agree with the commenter that deferred 
tax assets and liabilities are not financial claims. In addition, the 
agencies note that deferred tax assets and liabilities are specifically 
identified in the CBS Guidelines as reportable claims (liabilities). 
Therefore, the agencies propose to retain the current inclusion of 
deferred tax assets and liabilities among reportable items in the FFIEC 
009 and FFIEC 009a.
    To provide sufficient time for respondents to make any changes to 
their reporting systems that may be needed to reflect the agencies' 
proposed instructional revisions discussed above, the agencies will 
permit respondents to file the FFIEC 009 and FFIEC 009a for the periods 
ending September 30, 2019, and December 31, 2019, using either the 
existing definitions or the revised definitions for the items discussed 
above.
    Report Titles: Country Exposure Report and Country Exposure 
Information Report.
    Form Numbers: FFIEC 009 and FFIEC 009a.
    Frequency of Response: Quarterly.
    Affected Public: Business or other for profit.

OCC

    OMB Number: 1557-0100.
    Estimated Number of Respondents: 11 (FFIEC 009), 5 (FFIEC 009a).
    Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours 
(FFIEC 009a).
    Estimated Total Annual Burden: 5,764 hours (FFIEC 009), 120 hours 
(FFIEC 009a).

Board

    OMB Number: 7100-0035.
    Estimated Number of Respondents: 49 (FFIEC 009), 35 (FFIEC 009a).
    Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours 
(FFIEC 009a).
    Estimated Total Annual Burden: 25,676 hours (FFIEC 009), 840 hours 
(FFIEC 009a).

FDIC

    OMB Number: 3064-0017.
    Estimated Number of Respondents: 15 (FFIEC 009), 12 (FFIEC 009a).
    Estimated Average Time per Response: 131 hours (FFIEC 009), 6 hours 
(FFIEC 009a).
    Estimated Total Annual Burden: 7,860 hours (FFIEC 009), 288 hours 
(FFIEC 009a).

General Description of Reports

    The Country Exposure Report (FFIEC 009) is filed quarterly with the 
agencies and provides information on international claims of U.S. 
banks, savings associations, bank holding companies, savings and loan 
holding companies, and intermediate holding companies (U.S. banking 
organizations) that is used for supervisory and analytical purposes. 
The information is used to monitor the foreign country exposures of 
reporting institutions to determine the degree of risk in their 
portfolios and assess the potential risk of loss. Information reported 
in the FFIEC 009 also serves as the source for country risk exposure 
data for U.S. banking organizations that the BIS combines with 
comparable data from other jurisdictions into global aggregate 
statistical data on country risk exposure as the BIS CBS. The Country 
Exposure Information Report (FFIEC 009a) is a supplement to the FFIEC 
009 and provides publicly available information on material foreign 
country exposures (all exposures to a country in excess of 1 percent of 
total assets or 20 percent of capital, whichever is less) of U.S. 
banking organizations that file the FFIEC 009 report. As part of the 
Country Exposure Information Report, reporting institutions also must 
furnish a list of countries in which they have lending exposures above 
0.75 percent of total assets or 15 percent of total capital, whichever 
is less.

Statutory Basis and Confidential Treatment

    These information collections are mandatory under the following 
statutes: 12 U.S.C. 161 and 1817 (national banks), 12 U.S.C. 1464 
(federal savings associations), 12 U.S.C. 248(a)(1) and (2), 1844(c), 
and 3906 (state member banks and bank holding companies); 12 U.S.C. 
1467a(b)(2)(A) (savings and loan holding companies); 12 U.S.C. 5365(a) 
(intermediate holding companies); and 12 U.S.C. 1817 and 1820 (insured 
state nonmember commercial and savings banks and insured state savings 
associations). The FFIEC 009 information collection is given 
confidential treatment (5 U.S.C. 552(b)(4) and (b)(8)). The FFIEC 009a 
information collection is not given confidential treatment.

[[Page 47344]]

Request for Comment

    The agencies invite comment on the following topics related to 
these collections of information:
    (a) Whether the information collections are necessary for the 
proper performance of the agencies' functions, including whether the 
information has practical utility;
    (b) The accuracy of the agencies' estimates of the burden of the 
information collections, 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 collections on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Comments submitted in response to this joint notice will be shared 
among the agencies. All comments will become a matter of public record.

    Dated: August 30, 2019
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
    Board of Governors of the Federal Reserve System, September 3, 
2019.
Ann Misback,
Secretary of the Board.
Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on September 3, 2019.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2019-19369 Filed 9-6-19; 8:45 am]
BILLING CODE 4810-33-6210-01-6714-01-P