Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 17888-17890 [2020-06751]

Download as PDF 17888 Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices 1. Membership Applications FHFA estimates that the average number of applications for Bank membership submitted annually will be 144 and that the average time to prepare and submit an application and supporting materials will be 15 hours. Accordingly, the estimate for the annual hour burden associated with preparation and submission of applications for Bank membership is (144 applications × 15 hours per application) = 2,160 hours. of information is necessary for the proper performance of FHFA functions, including whether the information has practical utility; (2) the accuracy of FHFA’s estimates of the burdens of the collection of information; (3) ways to enhance the quality, utility, and clarity of the information collected; and (4) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. 2. Appeals of Membership Denials FHFA estimates that the average number of applicants that have been denied membership by a Bank that will appeal such a denial to FHFA will be 1 and that the average time to prepare and submit an application for appeal will be 10 hours. Accordingly, the estimate for the annual hour burden associated with the preparation and submission of membership appeals is (1 appellants × 10 hours per application) = 10 hours. Robert Winkler, Chief Information Officer, Federal Housing Finance Agency. 3. Notices of Intent to Withdraw from Membership FHFA estimates that the average number of Bank members submitting a notice of intent to withdraw from membership annually will be 5 and that the average time to prepare and submit a notice will be 1.5 hours. Accordingly, the estimate for the annual hour burden associated with preparation and submission of notices of intent to withdraw is (5 withdrawing members × 1.5 hours per application) = 7.5, rounded to 8 hours. jbell on DSKJLSW7X2PROD with NOTICES 4. Requests for Transfer of Membership to Another Bank District FHFA estimates that the average number of Bank members submitting a request for transfer to another Bank will be 5 and that the average time to prepare and submit a request will be 2 hours. Accordingly, the estimate for the annual hour burden associated with preparation and submission of requests for automatic transfer is (5 transferring members × 2 hours per request) = 10 hours. D. Comment Request In accordance with the requirements of 5 CFR 1320.8(d), FHFA published an initial notice and request for public comments regarding this information collection in the Federal Register on January 22, 2020.8 The 60-day comment period closed on March 23, 2020. FHFA received no comments. FHFA requests written comments on the following: (1) Whether the collection 8 See 85 FR 3683 (Jan. 22, 2020). VerDate Sep<11>2014 19:01 Mar 30, 2020 Jkt 250001 [FR Doc. 2020–06686 Filed 3–30–20; 8:45 am] BILLING CODE 8070–01–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. ACTION: Temporary approval of information collection. AGENCY: The Board of Governors of the Federal Reserve System (Board) has temporarily revised the Financial Statements for Holding Companies pursuant to the authority delegated to the Board by the Office of Management and Budget (OMB). The revisions are applicable only to reports reflecting the March 31, 2020, as of date. 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 temporarily approve a revision to a collection of information without providing opportunity for public comment if the Board determines that a change in an existing collection must be instituted SUMMARY: PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 quickly and that public participation in the approval process would defeat the purpose of the collection or substantially interfere with the Board’s ability to perform its statutory obligation. The Board’s delegated authority requires that the Board, after temporarily approving a collection, solicit public comment on a proposal to extend the temporary collection for a period not to exceed three years. However, as discussed below, the Board does not intend to solicit comment on such a proposal with respect to these temporary revisions, as the Board, after soliciting comment, has separately approved identical revisions that would apply to reports subsequent to those affected by the temporary revisions. Final Approval Under OMB Delegated Authority of the Temporary Revision of the Following Information Collection Report title: Financial Statements for Holding Companies. Agency form number: FR Y–9C; FR Y– 9LP; FR Y–9SP; FR Y–9ES; FR Y–9CS. OMB control number: 7100–0128. Effective date: March 31, 2020. Frequency: Quarterly, semiannually, and annually. Affected public: Businesses or other for-profit. Respondents: Bank holding companies (BHCs), savings and loan holding companies (SLHCs),1 securities holding companies (SHCs), and U.S. intermediate holding companies (IHCs) (collectively, holding companies (HCs)). Estimated number of respondents: FR Y–9C (non-advanced approaches (AA) HCs community bank leverage ratio (CBLR)) with less than $5 billion in total assets—71, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets—35, FR Y–9C (non AA HCs non-CBLR) with less than $5 billion in total assets— 84, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets— 154, FR Y–9C (AA HCs)—19, FR Y–9LP—434, FR Y–9SP—3,960, FR Y–9ES—83, FR Y–9CS—236. Estimated average hours per response: 1 An SLHC must file one or more of the FR Y– 9 family of reports unless it is: (1) A grandfathered unitary SLHC with primarily commercial assets and thrifts that make up less than 5 percent of its consolidated assets; or (2) a SLHC that primarily holds insurance-related assets and does not otherwise submit financial reports with the SEC pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. E:\FR\FM\31MRN1.SGM 31MRN1 Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices Reporting FR Y–9C (non AA HCs CBLR) with less than $5 billion in total assets— 29.14, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets—35.11, FR Y–9C (non AA HCs non-CBLR) with less than $5 billion in total assets— 40.98, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets— 46.95, FR Y–9C (AA HCs)—48.59, FR Y–9LP—5.27, FR Y–9SP—5.40, FR Y–9ES—0.50, FR Y–9CS—0.50. Recordkeeping FR Y–9C—1, FR Y–9LP—1, FR Y–9SP—0.50, FR Y–9ES—0.50, FR Y–9CS—0.50. Estimated annual burden hours: Reporting FR Y–9C (non AA HCs CBLR) with less than $5 billion in total assets— 8,276, FR Y–9C (non AA HCs CBLR) with $5 billion or more in total assets—4,915, FR Y–9C (non AA HCs non-CBLR) with less than $5 billion in total assets— 13,769, FR Y–9C (non AA HCs non-CBLR) with $5 billion or more in total assets— 28,921, FR Y–9C (AA HCs)—3,693, FR Y–9LP—9,149, FR Y–9SP—42,768, FR Y–9ES—42, FR Y–9CS—472. jbell on DSKJLSW7X2PROD with NOTICES Recordkeeping FR Y–9C—1,452, FR Y–9LP—1,736, FR Y–9SP—3,960, FR Y–9ES—42, FR Y–9CS—472. General description of report: The FR Y–9 family of reporting forms continues to be the primary source of financial data on holding companies that examiners rely on in the intervals between on-site inspections. Financial data from these reporting forms are used to detect emerging financial problems, to review performance and conduct preinspection analysis, to monitor and evaluate capital adequacy, to evaluate holding company mergers and acquisitions, and to analyze a holding company’s overall financial condition to ensure the safety and soundness of its operations. The FR Y–9C, FR Y–9LP, and FR Y–9SP serve as standardized financial statements for the consolidated holding company. The Board requires VerDate Sep<11>2014 19:01 Mar 30, 2020 Jkt 250001 HCs to provide standardized financial statements to fulfill the Board’s statutory obligation to supervise these organizations. The FR Y–9ES is a financial statement for HCs that are Employee Stock Ownership Plans. The Board uses the voluntary FR Y–9CS (a free-form supplement) to collect additional information deemed to be critical and needed in an expedited manner. HCs file the FR Y–9C on a quarterly basis, the FR Y–9LP quarterly, the FR Y–9SP semiannually, the FR Y– 9ES annually, and the FR Y–9CS on a schedule that is determined when this supplement is used. Current actions: The Board has temporarily revised the instructions for the FR Y–9C to permit banking organizations to report data in a manner consistent with the final rule titled Standardized Approach for Calculating the Exposure Amount of Derivative Contracts (SA–CCR rule) 2 beginning with the FR Y–9C report as of March 31, 2020, rather than the report as of June 30, 2020, as separately approved by the Board. For the FR Y–9C report as of March 31, 2020, respondents may report data affected by the SA–CCR rule on a best efforts basis. Because the temporary revision applies only to reports as of March 31, 2020, and because the Board, after soliciting public comment, has separately approved SA–CCR-related revisions to the FR Y–9C beginning with reports as of June 30, 2020, the Board believes that further public comment would not serve any regulatory purpose. The Board has determined that this revision to the FR Y–9C must be instituted quickly and that public participation in the approval process would defeat the purpose of the collection of information, as delaying the revisions would result in the collection of inaccurate information and would interfere with the Board’s ability to perform its statutory duties. Legal authorization and confidentiality: The Board has the authority to impose the reporting and recordkeeping requirements associated with the FR Y–9 family of reports on BHCs pursuant to section 5 of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1844); on SLHCs pursuant to section 10(b)(2) and (3) of the Home Owners’ Loan Act (12 U.S.C. 1467a(b)(2) and (3)); on U.S. IHCs pursuant to section 5 of the BHC Act (12 U.S.C. 1844), as well as pursuant to sections 102(a)(1) and 165 of the DoddFrank Wall Street and Consumer Protection Act (Dodd-Frank Act) (12 U.S.C. 511(a)(1) and 5365); and on securities holding companies pursuant 2 See PO 00000 85 FR 4362 (January 24, 2020). Frm 00042 Fmt 4703 Sfmt 4703 17889 to section 618 of the Dodd-Frank Act (12 U.S.C. 1850a(c)(1)(A)). The obligation to submit the FR Y–9 series of reports, and the recordkeeping requirements set forth in the respective instructions to each report, are mandatory, except for the FR Y–9CS, which is voluntary. With respect to the FR Y–9C report, Schedule HI’s memoranda data item 7(g) ‘‘FDIC deposit insurance assessments,’’ Schedule HC–P’s data item 7(a) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to U.S. government agencies and government sponsored agencies,’’ and Schedule HC–P’s data item 7(b) ‘‘Representation and warranty reserves for 1–4 family residential mortgage loans sold to other parties’’ are considered confidential commercial and financial information. Such treatment is appropriate under exemption 4 of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)) because these data items reflect commercial and financial information that is both customarily and actually treated as private by the submitter, and which the Board has previously assured submitters will be treated as confidential. It also appears that disclosing these data items may reveal confidential examination and supervisory information, and in such instances, this information would also be withheld pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)), which protects information related to the supervision or examination of a regulated financial institution. In addition, for both the FR Y–9C report and the FR Y–9SP report, Schedule HC’s memorandum item 2.b., the name and email address of the external auditing firm’s engagement partner, is considered confidential commercial information and protected by exemption 4 of the FOIA (5 U.S.C. 552(b)(4)) if the identity of the engagement partner is treated as private information by HCs. The Board has assured respondents that this information will be treated as confidential since the collection of this data item was proposed in 2004. Aside from the data items described above, the remaining data items on the FR Y–9C report and the FR Y–9SP report are generally not accorded confidential treatment. The data items collected on FR Y–9LP, FR Y–9ES, and FR Y–9CS reports, are also generally not accorded confidential treatment. As provided in the Board’s Rules Regarding Availability of Information (12 CFR part 261), however, a respondent may request confidential treatment for any data items the respondent believes should be withheld pursuant to a FOIA exemption. The Board will review any E:\FR\FM\31MRN1.SGM 31MRN1 17890 Federal Register / Vol. 85, No. 62 / Tuesday, March 31, 2020 / Notices such request to determine if confidential treatment is appropriate and will inform the respondent if the request for confidential treatment has been denied. To the extent the instructions to the FR Y–9C, FR Y–9LP, FR Y–9SP, and FR Y–9ES reports each respectively direct the financial institution to retain the workpapers and related materials used in preparation of each report, such material would only be obtained by the Board as part of the examination or supervision of the financial institution. Accordingly, such information is considered confidential pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)). In addition, the workpapers and related materials may also be protected by exemption 4 of the FOIA, to the extent such financial information is treated as confidential by the respondent (5 U.S.C. 552(b)(4)). Board of Governors of the Federal Reserve System. Ann Misback, Secretary of the Board. [FR Doc. 2020–06751 Filed 3–30–20; 8:45 am] Board of Governors of the Federal Reserve System, March 26, 2020. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2020–06681 Filed 3–30–20; 8:45 am] Jessica Salmoiraghi, Associate Administrator, Office of Government-wide Policy. GENERAL SERVICES ADMINISTRATION [FR Doc. 2020–06666 Filed 3–30–20; 8:45 am] BILLING CODE 6820–14–P [Notice–MA–2020–03; Docket No. 2020– 0002, Sequence No. 10] FEDERAL RESERVE SYSTEM Premium Class Transportation Reporting Requirements The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y, (12 CFR part 225) to engage de novo, or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each application is available for inspection at the Federal Reserve Bank indicated. The application also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act. Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue VerDate Sep<11>2014 19:01 Mar 30, 2020 Jkt 250001 accommodations, unless they have an authorized exception to use the lowest class of premium class transportation required to meet their needs and accomplish the mission. Federal agencies must report the authorized use and payment of premium class transportation while on official travel when the cost is more expensive than comparable coach class accommodations for the same itinerary. Changes in the airline industry such as the creation of classes that are in between coach and business classes has prompted agencies to request clarity in premium class reporting requirements. FTR Bulletin 20–05 provides the guidance needed to promote consistent reporting on the use of premium class transportation used for official temporary duty and relocation travel. BILLING CODE P BILLING CODE 6210–01–P Notice of Proposals to Engage in or To Acquire Companies Engaged in Permissible Nonbanking Activities jbell on DSKJLSW7X2PROD with NOTICES NW, Washington DC 20551–0001, not later than April 30, 2020. A. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. Ally Financial Inc. and IB Finance Holding Company, LLC, both of Detroit, Michigan; to acquire Cardholder Management Services, Inc., Woodbury, New York, and indirectly acquire Merrick Bank Corporation, South Jordan, Utah, and thereby engage in operating an industrial bank, pursuant to section 225.28(b)(4)(i) of Regulation Y. Office of Government-wide Policy (OGP), General Services Administration (GSA). ACTION: Notice of Federal Travel Regulation (FTR) Bulletin 20–05, premium class transportation reporting requirements. AGENCY: GSA is publishing the reporting requirements for the use of other than coach class, also known as ‘‘premium class’’ transportation by Government employees on official travel. This bulletin also clarifies which accommodations are not considered premium class, and are therefore not reportable. This information will be available in FTR Bulletin 20–05, which can be found on GSA’s website at https://gsa.gov/ftrbulletins. DATES: Applicability date: March 31, 2020. This notice applies to all official travel and relocation and remains in effect until superseded or cancelled. FOR FURTHER INFORMATION CONTACT: For clarification of content, please contact Ms. Cheryl D. McClain-Barnes, Program Analyst, Office of Government-wide Policy, Office of Asset and Transportation Management, at 202– 208–4334, or by email at travelpolicy@ gsa.gov. Please cite Notice of FTR Bulletin 20–05. SUPPLEMENTARY INFORMATION: The FTR requires Government travelers to use coach class SUMMARY: PO 00000 Frm 00043 Fmt 4703 Sfmt 4703 GENERAL SERVICES ADMINISTRATION [Notice–PBS–2020–03; Docket No. 2020– 0002; Sequence No. 11] Notice of Availability of the Revised Draft Environmental Impact Statement for the Expansion and Modernization of the San Luis I Land Port of Entry, San Luis, Arizona Public Building Service (PBS), General Services Administration (GSA). ACTION: Notice of availability. AGENCY: This notice announces the availability, and opportunity for public review and comment, of the revised Draft Environmental Impact Statement (DEIS), which analyzes the potential environmental impacts of a proposal by the General Services Administration (GSA) to expand and modernize the San Luis I Land Port of Entry (LPOE) located in San Luis, Arizona along the U.S.Mexico international border. During the draft EIS review period in April 2019, multiple comments were received, including one comment which identified a new alternative to be included in the analysis. Therefore, GSA determined that the Draft EIS would be re-released for public review that includes the new alternative. The revised DEIS describes the project purpose and need, the alternatives being considered, and the potential impacts of each alternative on the existing environment. As the lead agency for this undertaking, GSA is acting on behalf of SUMMARY: E:\FR\FM\31MRN1.SGM 31MRN1

Agencies

[Federal Register Volume 85, Number 62 (Tuesday, March 31, 2020)]
[Notices]
[Pages 17888-17890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06751]


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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.

ACTION: Temporary approval of information collection.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
has temporarily revised the Financial Statements for Holding Companies 
pursuant to the authority delegated to the Board by the Office of 
Management and Budget (OMB). The revisions are applicable only to 
reports reflecting the March 31, 2020, as of date.

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 temporarily approve a revision to a 
collection of information without providing opportunity for public 
comment if the Board determines that a change in an existing collection 
must be instituted quickly and that public participation in the 
approval process would defeat the purpose of the collection or 
substantially interfere with the Board's ability to perform its 
statutory obligation.
    The Board's delegated authority requires that the Board, after 
temporarily approving a collection, solicit public comment on a 
proposal to extend the temporary collection for a period not to exceed 
three years. However, as discussed below, the Board does not intend to 
solicit comment on such a proposal with respect to these temporary 
revisions, as the Board, after soliciting comment, has separately 
approved identical revisions that would apply to reports subsequent to 
those affected by the temporary revisions.

Final Approval Under OMB Delegated Authority of the Temporary Revision 
of the Following Information Collection

    Report title: Financial Statements for Holding Companies.
    Agency form number: FR Y-9C; FR Y-9LP; FR Y-9SP; FR Y-9ES; FR Y-
9CS.
    OMB control number: 7100-0128.
    Effective date: March 31, 2020.
    Frequency: Quarterly, semiannually, and annually.
    Affected public: Businesses or other for-profit.
    Respondents: Bank holding companies (BHCs), savings and loan 
holding companies (SLHCs),\1\ securities holding companies (SHCs), and 
U.S. intermediate holding companies (IHCs) (collectively, holding 
companies (HCs)).
---------------------------------------------------------------------------

    \1\ An SLHC must file one or more of the FR Y-9 family of 
reports unless it is: (1) A grandfathered unitary SLHC with 
primarily commercial assets and thrifts that make up less than 5 
percent of its consolidated assets; or (2) a SLHC that primarily 
holds insurance-related assets and does not otherwise submit 
financial reports with the SEC pursuant to section 13 or 15(d) of 
the Securities Exchange Act of 1934.
---------------------------------------------------------------------------

    Estimated number of respondents:
    FR Y-9C (non-advanced approaches (AA) HCs community bank leverage 
ratio (CBLR)) with less than $5 billion in total assets--71,
    FR Y-9C (non AA HCs CBLR) with $5 billion or more in total assets--
35,
    FR Y-9C (non AA HCs non-CBLR) with less than $5 billion in total 
assets--84,
    FR Y-9C (non AA HCs non-CBLR) with $5 billion or more in total 
assets--154,
    FR Y-9C (AA HCs)--19,
    FR Y-9LP--434,
    FR Y-9SP--3,960,
    FR Y-9ES--83,
    FR Y-9CS--236.
    Estimated average hours per response:

[[Page 17889]]

Reporting

    FR Y-9C (non AA HCs CBLR) with less than $5 billion in total 
assets--29.14,
    FR Y-9C (non AA HCs CBLR) with $5 billion or more in total assets--
35.11,
    FR Y-9C (non AA HCs non-CBLR) with less than $5 billion in total 
assets--40.98,
    FR Y-9C (non AA HCs non-CBLR) with $5 billion or more in total 
assets--46.95,
    FR Y-9C (AA HCs)--48.59,
    FR Y-9LP--5.27,
    FR Y-9SP--5.40,
    FR Y-9ES--0.50,
    FR Y-9CS--0.50.

Recordkeeping

    FR Y-9C--1,
    FR Y-9LP--1,
    FR Y-9SP--0.50,
    FR Y-9ES--0.50,
    FR Y-9CS--0.50.
    Estimated annual burden hours:

Reporting

    FR Y-9C (non AA HCs CBLR) with less than $5 billion in total 
assets--8,276,
    FR Y-9C (non AA HCs CBLR) with $5 billion or more in total assets--
4,915,
    FR Y-9C (non AA HCs non-CBLR) with less than $5 billion in total 
assets--13,769,
    FR Y-9C (non AA HCs non-CBLR) with $5 billion or more in total 
assets--28,921,
    FR Y-9C (AA HCs)--3,693,
    FR Y-9LP--9,149,
    FR Y-9SP--42,768,
    FR Y-9ES--42,
    FR Y-9CS--472.

Recordkeeping

    FR Y-9C--1,452,
    FR Y-9LP--1,736,
    FR Y-9SP--3,960,
    FR Y-9ES--42,
    FR Y-9CS--472.
    General description of report: The FR Y-9 family of reporting forms 
continues to be the primary source of financial data on holding 
companies that examiners rely on in the intervals between on-site 
inspections. Financial data from these reporting forms are used to 
detect emerging financial problems, to review performance and conduct 
pre-inspection analysis, to monitor and evaluate capital adequacy, to 
evaluate holding company mergers and acquisitions, and to analyze a 
holding company's overall financial condition to ensure the safety and 
soundness of its operations. The FR Y-9C, FR Y-9LP, and FR Y-9SP serve 
as standardized financial statements for the consolidated holding 
company. The Board requires HCs to provide standardized financial 
statements to fulfill the Board's statutory obligation to supervise 
these organizations. The FR Y-9ES is a financial statement for HCs that 
are Employee Stock Ownership Plans. The Board uses the voluntary FR Y-
9CS (a free-form supplement) to collect additional information deemed 
to be critical and needed in an expedited manner. HCs file the FR Y-9C 
on a quarterly basis, the FR Y-9LP quarterly, the FR Y-9SP 
semiannually, the FR Y-9ES annually, and the FR Y-9CS on a schedule 
that is determined when this supplement is used.
    Current actions: The Board has temporarily revised the instructions 
for the FR Y-9C to permit banking organizations to report data in a 
manner consistent with the final rule titled Standardized Approach for 
Calculating the Exposure Amount of Derivative Contracts (SA-CCR rule) 
\2\ beginning with the FR Y-9C report as of March 31, 2020, rather than 
the report as of June 30, 2020, as separately approved by the Board. 
For the FR Y-9C report as of March 31, 2020, respondents may report 
data affected by the SA-CCR rule on a best efforts basis. Because the 
temporary revision applies only to reports as of March 31, 2020, and 
because the Board, after soliciting public comment, has separately 
approved SA-CCR-related revisions to the FR Y-9C beginning with reports 
as of June 30, 2020, the Board believes that further public comment 
would not serve any regulatory purpose.
---------------------------------------------------------------------------

    \2\ See 85 FR 4362 (January 24, 2020).
---------------------------------------------------------------------------

    The Board has determined that this revision to the FR Y-9C must be 
instituted quickly and that public participation in the approval 
process would defeat the purpose of the collection of information, as 
delaying the revisions would result in the collection of inaccurate 
information and would interfere with the Board's ability to perform its 
statutory duties.
    Legal authorization and confidentiality: The Board has the 
authority to impose the reporting and recordkeeping requirements 
associated with the FR Y-9 family of reports on BHCs pursuant to 
section 5 of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 
1844); on SLHCs pursuant to section 10(b)(2) and (3) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(b)(2) and (3)); on U.S. IHCs pursuant 
to section 5 of the BHC Act (12 U.S.C. 1844), as well as pursuant to 
sections 102(a)(1) and 165 of the Dodd-Frank Wall Street and Consumer 
Protection Act (Dodd-Frank Act) (12 U.S.C. 511(a)(1) and 5365); and on 
securities holding companies pursuant to section 618 of the Dodd-Frank 
Act (12 U.S.C. 1850a(c)(1)(A)). The obligation to submit the FR Y-9 
series of reports, and the recordkeeping requirements set forth in the 
respective instructions to each report, are mandatory, except for the 
FR Y-9CS, which is voluntary.
    With respect to the FR Y-9C report, Schedule HI's memoranda data 
item 7(g) ``FDIC deposit insurance assessments,'' Schedule HC-P's data 
item 7(a) ``Representation and warranty reserves for 1-4 family 
residential mortgage loans sold to U.S. government agencies and 
government sponsored agencies,'' and Schedule HC-P's data item 7(b) 
``Representation and warranty reserves for 1-4 family residential 
mortgage loans sold to other parties'' are considered confidential 
commercial and financial information. Such treatment is appropriate 
under exemption 4 of the Freedom of Information Act (FOIA) (5 U.S.C. 
552(b)(4)) because these data items reflect commercial and financial 
information that is both customarily and actually treated as private by 
the submitter, and which the Board has previously assured submitters 
will be treated as confidential. It also appears that disclosing these 
data items may reveal confidential examination and supervisory 
information, and in such instances, this information would also be 
withheld pursuant to exemption 8 of the FOIA (5 U.S.C. 552(b)(8)), 
which protects information related to the supervision or examination of 
a regulated financial institution.
    In addition, for both the FR Y-9C report and the FR Y-9SP report, 
Schedule HC's memorandum item 2.b., the name and email address of the 
external auditing firm's engagement partner, is considered confidential 
commercial information and protected by exemption 4 of the FOIA (5 
U.S.C. 552(b)(4)) if the identity of the engagement partner is treated 
as private information by HCs. The Board has assured respondents that 
this information will be treated as confidential since the collection 
of this data item was proposed in 2004.
    Aside from the data items described above, the remaining data items 
on the FR Y-9C report and the FR Y-9SP report are generally not 
accorded confidential treatment. The data items collected on FR Y-9LP, 
FR Y-9ES, and FR Y-9CS reports, are also generally not accorded 
confidential treatment. As provided in the Board's Rules Regarding 
Availability of Information (12 CFR part 261), however, a respondent 
may request confidential treatment for any data items the respondent 
believes should be withheld pursuant to a FOIA exemption. The Board 
will review any

[[Page 17890]]

such request to determine if confidential treatment is appropriate and 
will inform the respondent if the request for confidential treatment 
has been denied.
    To the extent the instructions to the FR Y-9C, FR Y-9LP, FR Y-9SP, 
and FR Y-9ES reports each respectively direct the financial institution 
to retain the workpapers and related materials used in preparation of 
each report, such material would only be obtained by the Board as part 
of the examination or supervision of the financial institution. 
Accordingly, such information is considered confidential pursuant to 
exemption 8 of the FOIA (5 U.S.C. 552(b)(8)). In addition, the 
workpapers and related materials may also be protected by exemption 4 
of the FOIA, to the extent such financial information is treated as 
confidential by the respondent (5 U.S.C. 552(b)(4)).

Board of Governors of the Federal Reserve System.
Ann Misback,
Secretary of the Board.
[FR Doc. 2020-06751 Filed 3-30-20; 8:45 am]
BILLING CODE 6210-01-P