Agency Information Collection Activities: Announcement of Temporary Approval by the Board Under Delegated Authority and Submission to OMB, 29447-29449 [2020-10467]
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Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
section of this document, on or before
June 2, 2020.
Special accommodations: For
information on access or services for
individuals with disabilities, and to
request accommodation of a disability,
please contact the DFO listed under FOR
FURTHER INFORMATION CONTACT at least
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your request.
ADDRESSES:
Peer Review Virtual Meeting: Please
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link and audio teleconference
information for participation.
Comments: Submit your comments,
identified by docket identification (ID)
number EPA–HQ–OPPT–2019–0501,
using the instructions provided in in the
Federal Register on April 3, 2020 (85 FR
18954; FRL–10006–93). Please use the
Federal eRulemaking Portal: https://
www.regulations.gov. Follow the online
instructions for submitting comments.
Do not submit electronically any
information you consider to be
Confidential Business Information (CBI)
or other information whose disclosure is
restricted by statute.
Please note that due to the public
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via email, phone, and webform. For
further information on EPA/DC services,
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current status of the EPA/DC and
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Submit requests to present oral
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Requests for special accommodations:
Submit requests for special
accommodations to the Designated
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FURTHER INFORMATION CONTACT.
FOR FURTHER INFORMATION CONTACT:
TSCS SACC: Dr. Diana Wong, DFO,
Office of Science Coordination and
Policy (7201M), Environmental
Protection Agency, 1200 Pennsylvania
Ave. NW, Washington, DC 20460–0001;
telephone number: (202) 564–2049;
email address: wong.diana-m@epa.gov.
Draft Risk Evaluation: Dr. Stan
Barone, Office of Pollution Prevention
and Toxics (7403M), Environmental
Protection Agency, 1200 Pennsylvania
Ave. NW, Washington, DC 20460–0001;
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telephone number: (202) 564–1169;
email address: barone.stan@epa.gov.
SUPPLEMENTARY INFORMATION: The
original meeting announcement
appeared in the Federal Register on
April 3, 2020 (85 FR 18954; FRL–
10006–93). This document announces
the new dates for the rescheduled peer
review meeting and provides
instructions for registering for this
virtual meeting, please consult the April
3, 2020 document for details about the
purpose of the meeting, as well as
instructions for participating or
providing comments.
As indicated previously, EPA’s
background documents, related
supporting materials, and draft charge
questions to the TSCA SACC are
available on the TSCA SACC website
and in the docket established for the
specific chemical substance. In
addition, EPA will provide additional
background documents (e.g., TSCA
SACC meeting agenda) as the materials
become available. You may obtain
electronic copies of these documents,
and certain other related documents that
might be available, in the docket at
https://www.regulations.gov and the
TSCA SACC website at https://
www.epa.gov/tsca-peer-review.
After the public meeting, the TSCA
SACC will prepare meeting minutes
summarizing its recommendations to
the EPA. The meeting minutes will be
posted on the TSCA SACC website and
in the relevant docket.
Authority: 15 U.S.C. 2625(o) et seq.; 5
U.S.C Appendix 2 et seq.
Dated: May 10, 2020.
Hayley Hughes,
Director, Office of Science Coordination and
Policy.
[FR Doc. 2020–10484 Filed 5–14–20; 8:45 am]
BILLING CODE 6560–50–P
ENVIRONMENTAL PROTECTION
AGENCY
[FRL–10009–12–Region 4]
Underground Injection Control
Program; Hazardous Waste Injection
Restrictions; Petition for Exemption
Reissuance—Class I Hazardous Waste
Injection; The Chemours Company,
FC, LLC, Chemours Titanium
Technologies DeLisle Plant, Pass
Christian, Mississippi
Environmental Protection
Agency (EPA).
ACTION: Notice of a final decision on a
UIC no migration petition reissuance.
AGENCY:
Notice is hereby given that a
reissuance of an exemption to the Land
SUMMARY:
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29447
Disposal Restrictions, under the 1984
Hazardous and Solid Waste
Amendments to the Resource
Conservation and Recovery Act, has
been granted to The Chemours
Company for Class I hazardous waste
injection wells located at their Pass
Christian, Mississippi facility. The
company has adequately demonstrated
to the satisfaction of the EPA by the
petition reissuance application and
supporting documentation that, to a
reasonable degree of certainty, there will
be no migration of hazardous
constituents from the injection zone for
as long as the waste remains hazardous.
This final decision allows the
underground injection by The
Chemours Company of the specific
restricted hazardous wastes identified in
this exemption reissuance request, into
Class I hazardous waste injection Wells
2, 3, 4, and 5 until December 31, 2050,
unless the EPA moves to terminate this
exemption. Additional conditions
included in this final decision may be
reviewed by contacting the EPA Region
4 Ground Water, UIC, and GIS Section.
A public notice was issued November
12, 2019 and the public comment period
closed on December 31, 2019, and no
comments were received. This decision
constitutes final Agency action and
there is no Administrative appeal.
DATES: EPA approved the action on
February 28, 2020.
ADDRESSES: Copies of the petition
reissuance and all pertinent information
relating thereto are on file at the
following location: Environmental
Protection Agency, Region 4, Water
Division, Safe Drinking Water Branch,
61 Forsyth Street Northeast, Atlanta,
Georgia 30303.
FOR FURTHER INFORMATION CONTACT:
Richie Hall, EPA Region 4,
Groundwater, UIC, and GIS Section, by
mail at the Atlanta street address given
above, by telephone at (404) 562–8067,
or by email at hall.richard@epa.gov.
Dated: May 8, 2020.
Jeaneanne Gettle,
Director, Water Division, Region 4.
[FR Doc. 2020–10398 Filed 5–14–20; 8:45 am]
BILLING CODE 6560–50–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of
Temporary Approval by the Board
Under Delegated Authority and
Submission to OMB
Board of Governors of the
Federal Reserve System.
AGENCY:
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29448
Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
Temporary approval of
information collection, request for
comment.
ACTION:
The Board of Governors of the
Federal Reserve System (Board) has
temporarily revised the Reporting
Requirements Associated with
Emergency Lending Under Section 13(3)
(FR A; OMB No. 7100–0373), pursuant
to the authority delegated to the Board
by the Office of Management and
Budget (OMB).
DATES: Comments must be submitted on
or before July 14, 2020.
ADDRESSES: You may submit comments,
identified by FR A, by any of the
following methods:
• Agency Website: https://
www.federalreserve.gov/. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include the OMB
number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available
from the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons or to
remove personally identifiable
information at the commenter’s request.
Accordingly, comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room 146, 1709 New York
Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on
weekdays. For security reasons, the
Board requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 452–3684.
Upon arrival, visitors will be required to
present valid government-issued photo
identification and to submit to security
screening in order to inspect and
photocopy comments.
Additionally, commenters may send a
copy of their comments to the Office of
Management and Budget (OMB) Desk
Officer—Shagufta Ahmed—Office of
Information and Regulatory Affairs,
Office of Management and Budget, New
Executive Office Building, Room 10235,
725 17th Street NW, Washington, DC
20503, or by fax to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance
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SUMMARY:
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Officer—Nuha Elmaghrabi—Office of
the Chief Data Officer, Board of
Governors of the Federal Reserve
System, Washington, DC 20551, (202)
452–3829. OMB Desk Officer—Shagufta
Ahmed—Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, Room 10235,
725 17th Street NW, Washington, DC
20503, or by fax to (202) 395–6974.
A copy of the Paperwork Reduction
Act (PRA) OMB submission, including
the reporting form and instructions,
supporting statement, and other
documentation will be placed into
OMB’s public docket files. These
documents also are available on the
Federal Reserve Board’s public website
at https://www.federalreserve.gov/apps/
reportforms/review.aspx or may be
requested from the agency clearance
officer, whose name appears above.
SUPPLEMENTARY INFORMATION: On June
15, 1984, OMB delegated to the Board
authority under the PRA to approve and
assign OMB control numbers to
collections of information conducted or
sponsored by the Board. In exercising
this delegated authority, the Board is
directed to take every reasonable step to
solicit comment. In determining
whether to approve a collection of
information, the Board will consider all
comments received from the public and
other agencies. Pursuant to its delegated
authority, the Board may 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.
As discussed below, the Board has
made certain temporary revisions to the
FR A information collection. The
Board’s delegated authority requires that
the Board, after temporarily approving a
collection, publish a notice soliciting
public comment. Therefore, the Board is
also inviting comment on a proposal to
extend the FR A information collection
for three years, with these revisions. The
Federal Register notice related to the FR
A that was published March 2, 2020, is
superseded by this notice.
Request for Comment on Information
Collection Proposal
The Board invites public comment on
the following information collection,
which is being reviewed under
authority delegated by the OMB under
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the PRA. Comments are invited on the
following:
a. Whether the proposed collection of
information is necessary for the proper
performance of the Board’s functions,
including whether the information has
practical utility;
b. The accuracy of the Board’s
estimate of the burden of the proposed
information collection, including the
validity of the methodology and
assumptions used;
c. Ways to enhance the quality,
utility, and clarity of the information to
be collected;
d. Ways to minimize the burden of
information collection on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
e. Estimates of capital or startup costs
and costs of operation, maintenance,
and purchase of services to provide
information.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the Board should
modify the proposal.
Approval Under OMB Delegated
Authority of the Temporary Revision of
the Following Information Collection:
Report title: Reporting Requirements
Associated with Emergency Lending
Under Section 13(3).
Agency form number: FR A.
OMB control number: 7100–0373.
Frequency: Event-generated.
Respondents: Entities or persons
borrowing under an emergency lending
program or facility established pursuant
to section 13(3) of the Federal Reserve
Act.
Estimated number of respondents: FR
A–1: 11,281; FR A–2: 6,449; FR A–3:
13,526.
Estimated average hours per response:
FR A–1: 8 hours; FR A–2: 40 hours; FR
A–3, Lender certifications: 151 hours;
Borrower certifications: 8 hours.
Estimated annual burden hours:
1,032,134.
General description of report: The
Board’s Regulation A (12 CFR part 201)
establishes policies and procedures with
respect to emergency lending under
section 13(3) of the Federal Reserve Act,
as required by sections 1101 and 1103
of the Dodd-Frank Wall Street Reform
and Consumer Protection Act. These
policies and procedures include (1) a
certification that a participant in a
lending facility is not insolvent;1 and (2)
a certification that a participant in a
lending facility is unable to secure
adequate credit accommodations from
other banking institutions.2 Currently,
1 See
2 See
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12 CFR 201.4(d)(5)(iv)(A).
12 CFR 201.4(d)(8)(ii).
15MYN1
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Federal Register / Vol. 85, No. 95 / Friday, May 15, 2020 / Notices
the Board’s information collection for
Regulation A, the FR A, includes only
the former certification; the latter was
unintentionally omitted. In addition to
the two certifications in Regulation A
that apply to all emergency lending
authorized under section 13(3), the
Board may establish additional
certification requirements for an
individual emergency lending facility.
Depending on the requirements of a
particular lending facility, there may be
a need to vary the certifications,
depending on the facts and
circumstances.
The FR A information collection is
being revised to contain three parts. The
first part of the FR A, the FR A–1,
pertains to reporting requirements
included in Regulation A, described
above. The second part of the FR A, the
FR A–2, pertains to reporting
requirements associated with individual
facilities that are related to requirements
of the Coronavirus Aid, Relief, and
Economic Security Act (CARES Act).
The third part of the FR A, the FR A–
3, pertains to reporting requirements
specific to the Main Street Expanded
Loan Facility, the Main Street New Loan
Facility, and the Main Street Priority
Loan Facility (collectively, the ‘‘Main
Street Lending Program’’).
Legal authorization and
confidentiality: The FR A is authorized
pursuant to section 13(3) of the Federal
Reserve Act, which sets out
requirements for emergency lending.
The obligation to respond is required to
obtain a benefit.
The information collected under FR A
may be kept confidential under
exemption 4 of the Freedom of
Information Act, which protects
commercial or financial information
obtained from a person that is privileged
or confidential.
Current actions: The Board has
revised the FR A to reflect reporting
requirements under facilities created
under section 13(3). The newly-created
facilities include the Commercial Paper
Funding Facility (CPFF), Main Street
Lending Program, Money Market
Mutual Fund Liquidity Facility
(MMLF), Municipal Liquidity Facility
(MLF), Paycheck Protection Program
Liquidity Facility (PPPLF), Primary
Dealer Credit Facility (PDCF), Primary
Market Corporate Credit Facility
(PMCCF), Secondary Market Corporate
Credit Facility (SMCCF), and Term
Asset-Backed Securities Loan Facility
(TALF).
The FR A–1 is being revised to
include a second certification, which
was inadvertently omitted previously
and serves as evidence that a person or
entity is unable to secure adequate
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17:09 May 14, 2020
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credit accommodations from other
banking institutions. The FR A–2 is a
new reporting requirement within the
FR A collection established through the
adoption of the term sheets for the Main
Street Lending Program, PMCCF,
SMCCF, and TALF. Participants in the
facilities must certify that they are
eligible to engage in a transaction under
the facility, including that the entity is
not a covered entity under section 4019
of the CARES Act. The FR A–3 is a new
reporting requirement within the FR A
collection established through the
adoption of the term sheets for the Main
Street Lending Program. An eligible
lender under MSELF must certify that
the methodology used for calculating
the eligible borrower’s adjusted 2019
earnings before interest, taxes,
depreciation, and amortization
(EBITDA), in order to determine the
maximum loan size, is the methodology
the eligible lender previously used for
adjusting EBITDA when originating or
amending the eligible loan on or before
April 24, 2020. An eligible lender under
MSNLF or MSPLF must certify that the
methodology used for calculating the
eligible borrower’s adjusted 2019
EBITDA in order to determine
maximum loan size is the methodology
it has previously used for adjusting
EBITDA when extending credit to the
eligible borrower or similarly situated
borrowers on or before April 24, 2020.
An eligible borrower must certify that it
has a reasonable basis to believe that, as
of the date of entering into the relevant
transaction and after entering into that
transaction, it has the ability to meet its
financial obligations for at least the next
90 days and does not expect to file for
bankruptcy during that time period. All
eligible lenders in the Main Street
Lending Program facilities must collect
certifications from borrowers.
Board of Governors of the Federal Reserve
System, May 12, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–10467 Filed 5–14–20; 8:45 am]
BILLING CODE 6210–01–P
GENERAL SERVICES
ADMINISTRATION
[Notice–PBS–2020–04; Docket No. 2020–
0002; Sequence No. 12]
Revised Notice of Intent/Revised
Project Action and Notice of
Availability for Land Ports of Entry
(LPOE)
Public Buildings Service (PBS),
Pacific Rim Division General Services
Administration (GSA).
AGENCY:
PO 00000
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Fmt 4703
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ACTION:
29449
Notice.
The Federal Motor Carrier
Safety Administration (FMCSA) and the
GSA have partnered to develop a
program of projects at a number of Land
Ports of Entry (LPOEs) so that FMCSA
agents can safely and effectively inspect
both commercial truck and bus traffic.
DATES: Due to the COVID–19 pandemic
and to ensure the safety of the public,
a formal, in-person public meeting will
not be held to solicit comments and
provide information about the Draft EA.
We will consider all comments that
we receive on or before June 30, 2020.
ADDRESSES: The Draft EA can be viewed
on the GSA website at https://
www.gsa.gov/nepa. Click on NEPA
Library then Public Documents. In
addition, copies may be obtained by
calling or writing to the individual
listed in this notice under the FOR
FURTHER INFORMATION CONTACT section.
You may submit comments at the
public meeting by either of the
following methods:
• Electronic Mail: osmahn.kadri@
gsa.gov.
• Postal Mail/Commercial Delivery:
Send your comment to: Tina Sekula,
JMT Inc., 1130 Situs Court, Suite 200,
Raleigh, NC 27606.
FOR FURTHER INFORMATION CONTACT:
• Email: Osmahn Kadri at
osmahn.kadri@gsa.gov
• Mail: Attn: Osmahn Kadri, NEPA
Program Manager, 50 United Nations
Plaza, 3345, Mailbox #9, San Francisco,
CA 94102.
• Telephone: (415) 522–3617.
• *NOTE* PLEASE DO NOT MAIL
COMMENTS VIA THE U.S. POSTAL
SERVICE (USPS) TO THE GSA
MAILING ADDRESS AT THIS TIME.
USPS MAIL CAN BE SENT TO JMT INC
AT THE ADDRESS ABOVE.
SUPPLEMENTARY INFORMATION:
GSA intended to prepare an
Environmental Impact Statement (EIS)
to analyze the potential impacts from
the proposed construction of six (6)
inspection facilities at five (5) different
LPOEs in both California and Arizona.
A Notice of Intent (NOI) was published
on May 23, 2019 concerning the EIS and
scoping meetings. A revised NOI was
published on June 21, 2019 to notify
interested parties that dates for the
scoping meetings changed for the two
(2) Arizona Sites. This publication
serves as another revised NOI to inform
interested parties of a revised project
action.
Based on scoping comments received,
GSA has modified the proposed action
to develop co-located truck inspection
facilities within existing state-operated
SUMMARY:
E:\FR\FM\15MYN1.SGM
15MYN1
]]>Agencies
[Federal Register Volume 85, Number 95 (Friday, May 15, 2020)]
[Notices]
[Pages 29447-29449]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-10467]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of
Temporary Approval by the Board Under Delegated Authority and
Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
[[Page 29448]]
ACTION: Temporary approval of information collection, request for
comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
has temporarily revised the Reporting Requirements Associated with
Emergency Lending Under Section 13(3) (FR A; OMB No. 7100-0373),
pursuant to the authority delegated to the Board by the Office of
Management and Budget (OMB).
DATES: Comments must be submitted on or before July 14, 2020.
ADDRESSES: You may submit comments, identified by FR A, by any of the
following methods:
Agency Website: https://www.federalreserve.gov/. Follow
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Email: [email protected]. Include the OMB
number in the subject line of the message.
Fax: (202) 452-3819 or (202) 452-3102.
Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
All public comments are available from the Board's website at
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the
Board requires that visitors make an appointment to inspect comments.
You may do so by calling (202) 452-3684. Upon arrival, visitors will be
required to present valid government-issued photo identification and to
submit to security screening in order to inspect and photocopy
comments.
Additionally, commenters may send a copy of their comments to the
Office of Management and Budget (OMB) Desk Officer--Shagufta Ahmed--
Office of Information and Regulatory Affairs, Office of Management and
Budget, New Executive Office Building, Room 10235, 725 17th Street NW,
Washington, DC 20503, or by fax to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: 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. OMB Desk Officer--Shagufta Ahmed--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503,
or by fax to (202) 395-6974.
A copy of the Paperwork Reduction Act (PRA) OMB submission,
including the reporting form and instructions, supporting statement,
and other documentation will be placed into OMB's public docket files.
These documents also are available on the Federal Reserve Board's
public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer,
whose name appears above.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the PRA to approve and assign OMB control numbers to
collections of information conducted or sponsored by the Board. In
exercising this delegated authority, the Board is directed to take
every reasonable step to solicit comment. In determining whether to
approve a collection of information, the Board will consider all
comments received from the public and other agencies. Pursuant to its
delegated authority, the Board may 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.
As discussed below, the Board has made certain temporary revisions
to the FR A information collection. The Board's delegated authority
requires that the Board, after temporarily approving a collection,
publish a notice soliciting public comment. Therefore, the Board is
also inviting comment on a proposal to extend the FR A information
collection for three years, with these revisions. The Federal Register
notice related to the FR A that was published March 2, 2020, is
superseded by this notice.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board's estimate of the burden of the
proposed information collection, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Approval Under OMB Delegated Authority of the Temporary Revision of
the Following Information Collection:
Report title: Reporting Requirements Associated with Emergency
Lending Under Section 13(3).
Agency form number: FR A.
OMB control number: 7100-0373.
Frequency: Event-generated.
Respondents: Entities or persons borrowing under an emergency
lending program or facility established pursuant to section 13(3) of
the Federal Reserve Act.
Estimated number of respondents: FR A-1: 11,281; FR A-2: 6,449; FR
A-3: 13,526.
Estimated average hours per response: FR A-1: 8 hours; FR A-2: 40
hours; FR A-3, Lender certifications: 151 hours; Borrower
certifications: 8 hours.
Estimated annual burden hours: 1,032,134.
General description of report: The Board's Regulation A (12 CFR
part 201) establishes policies and procedures with respect to emergency
lending under section 13(3) of the Federal Reserve Act, as required by
sections 1101 and 1103 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act. These policies and procedures include (1) a
certification that a participant in a lending facility is not
insolvent;\1\ and (2) a certification that a participant in a lending
facility is unable to secure adequate credit accommodations from other
banking institutions.\2\ Currently,
[[Page 29449]]
the Board's information collection for Regulation A, the FR A, includes
only the former certification; the latter was unintentionally omitted.
In addition to the two certifications in Regulation A that apply to all
emergency lending authorized under section 13(3), the Board may
establish additional certification requirements for an individual
emergency lending facility. Depending on the requirements of a
particular lending facility, there may be a need to vary the
certifications, depending on the facts and circumstances.
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\1\ See 12 CFR 201.4(d)(5)(iv)(A).
\2\ See 12 CFR 201.4(d)(8)(ii).
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The FR A information collection is being revised to contain three
parts. The first part of the FR A, the FR A-1, pertains to reporting
requirements included in Regulation A, described above. The second part
of the FR A, the FR A-2, pertains to reporting requirements associated
with individual facilities that are related to requirements of the
Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The
third part of the FR A, the FR A-3, pertains to reporting requirements
specific to the Main Street Expanded Loan Facility, the Main Street New
Loan Facility, and the Main Street Priority Loan Facility
(collectively, the ``Main Street Lending Program'').
Legal authorization and confidentiality: The FR A is authorized
pursuant to section 13(3) of the Federal Reserve Act, which sets out
requirements for emergency lending. The obligation to respond is
required to obtain a benefit.
The information collected under FR A may be kept confidential under
exemption 4 of the Freedom of Information Act, which protects
commercial or financial information obtained from a person that is
privileged or confidential.
Current actions: The Board has revised the FR A to reflect
reporting requirements under facilities created under section 13(3).
The newly-created facilities include the Commercial Paper Funding
Facility (CPFF), Main Street Lending Program, Money Market Mutual Fund
Liquidity Facility (MMLF), Municipal Liquidity Facility (MLF), Paycheck
Protection Program Liquidity Facility (PPPLF), Primary Dealer Credit
Facility (PDCF), Primary Market Corporate Credit Facility (PMCCF),
Secondary Market Corporate Credit Facility (SMCCF), and Term Asset-
Backed Securities Loan Facility (TALF).
The FR A-1 is being revised to include a second certification,
which was inadvertently omitted previously and serves as evidence that
a person or entity is unable to secure adequate credit accommodations
from other banking institutions. The FR A-2 is a new reporting
requirement within the FR A collection established through the adoption
of the term sheets for the Main Street Lending Program, PMCCF, SMCCF,
and TALF. Participants in the facilities must certify that they are
eligible to engage in a transaction under the facility, including that
the entity is not a covered entity under section 4019 of the CARES Act.
The FR A-3 is a new reporting requirement within the FR A collection
established through the adoption of the term sheets for the Main Street
Lending Program. An eligible lender under MSELF must certify that the
methodology used for calculating the eligible borrower's adjusted 2019
earnings before interest, taxes, depreciation, and amortization
(EBITDA), in order to determine the maximum loan size, is the
methodology the eligible lender previously used for adjusting EBITDA
when originating or amending the eligible loan on or before April 24,
2020. An eligible lender under MSNLF or MSPLF must certify that the
methodology used for calculating the eligible borrower's adjusted 2019
EBITDA in order to determine maximum loan size is the methodology it
has previously used for adjusting EBITDA when extending credit to the
eligible borrower or similarly situated borrowers on or before April
24, 2020. An eligible borrower must certify that it has a reasonable
basis to believe that, as of the date of entering into the relevant
transaction and after entering into that transaction, it has the
ability to meet its financial obligations for at least the next 90 days
and does not expect to file for bankruptcy during that time period. All
eligible lenders in the Main Street Lending Program facilities must
collect certifications from borrowers.
Board of Governors of the Federal Reserve System, May 12, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-10467 Filed 5-14-20; 8:45 am]
BILLING CODE 6210-01-P
