Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 51714-51715 [2020-18370]

Download as PDF jbell on DSKJLSW7X2PROD with NOTICES 51714 Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices (Sections 251.4(b) and (c))–20; FR XX– 1–74. General description of report: The Board’s Regulation XX—Concentration Limit (12 CFR part 251) implements section 14 of the BHC Act,1 which establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or otherwise acquiring, another company if the resulting company’s liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies (a covered acquisition). Under section 14 of the BHC Act and Regulation XX, a financial company means (1) an insured depository institution, (2) a bank holding company, (3) a savings and loan holding company, (4) any other company that controls an insured depository institution, (5) a nonbank financial company designated by the Council for supervision by the Board, or (6) a foreign bank or company that is treated as a bank holding company for purposes of the BHC Act. Regulation XX includes certain reporting requirements that apply to financial companies, and the FR XX–1 collects information from certain financial companies that do not otherwise report consolidated financial information to the Board or another Federal banking agency. Proposed revisions: The Board proposes to revise the FR XX to account for the reporting provision located at section 251.3(e). This provision of the regulation implements the Council’s recommendation to allow a financial company that does not use U.S. generally accepted accounting principles (GAAP) to use another appropriate accounting standard or method of estimation for determining compliance with section 14 of the BHC Act, while ensuring that the Board has an opportunity to review the appropriateness of the company’s proposed approach. The Board proposes to revise the due date for the FR XX–1 report. The FR XX–1 implements section 251.6(a) of Regulation XX, which requires a financial company that does not otherwise report consolidated financial information to the Board or another Federal banking agency to report to the Board its consolidated liabilities as of the previous calendar year-end. Regulation XX provides that this report must be submitted by March 31 of each year. However, the instructions to the FR XX–1 currently state that the report must be submitted 90 calendar days after the December 31 as of date or, if 1 12 19:04 Aug 20, 2020 Board of Governors of the Federal Reserve System, August 17, 2020. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2020–18373 Filed 8–20–20; 8:45 am] BILLING CODE 6210–01–P U.S.C. 1852. VerDate Sep<11>2014 the submission deadline falls on a weekend or holiday, the first business day after the weekend or holiday. Under these instructions, the FR XX–1 could be due prior to March 31 (in a leap year) or after March 31 (if March 31 falls on a weekend or holiday). In order to ensure that the due date of the FR XX– 1 coincides with the date set forth in Regulation XX, the Board proposes to revise the FR XX–1 so that it is due by March 31 of the year following the December 31 as of date. Legal authorization and confidentiality: The FR XX and the FR XX–1 are authorized by section 14 of the BHC Act, which, in relevant part, expressly authorizes the Board to issue ‘‘regulations implementing this section’’ and ‘‘interpretations or guidance regarding the application of this section to an individual financial company or to financial companies in general’’ (12 U.S.C. 1852(d)). The Board also has the authority to require reports from bank holding companies (12 U.S.C. 1844(c)), savings and loan holding companies (12 U.S.C. 1467a(b) and (g)), state member banks (12 U.S.C. 248(a) and 324), and state-licensed branches and agencies of foreign banks, other than insured branches (12 U.S.C. 3105(c)(2)). The obligation to respond is mandatory. Individual respondents may request that information submitted to the Board through the FR XX or FR XX–1 be kept confidential. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on a case-by-case basis. To the extent a respondent submits nonpublic commercial or financial information in connection with the FR XX or FR XX– 1, which is both customarily and actually treated as private by the respondent, the respondent may request confidential treatment pursuant to exemption 4 of the Freedom of Information Act (FOIA) (5 U.S.C. 552(b)(4)). The entity should separately designate such information as ‘‘confidential commercial information’’ or ‘‘confidential financial information’’ as appropriate, and the Board will treat such designated information as confidential to the extent permitted by law, including the FOIA. Jkt 250001 PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Notification of Nonfinancial Data Processing Activities (FR 4021; OMB No. 7100– 0306). FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Office of Management and Budget (OMB) Desk Officer—Shagufta Ahmed—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503, or by fax to (202) 395–6974. A copy of the Paperwork Reduction Act (PRA) OMB submission, including the reporting form and instructions, supporting statement, and other documentation will be placed into OMB’s public docket files. These documents also are available on the 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. Boardapproved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the PRA Submission, supporting statements, and approved collection of information instrument(s) are placed into OMB’s public docket files. AGENCY: Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Report title: Notification of Nonfinancial Data Processing Activities. Agency form number: FR 4021. OMB control number: 7100–0306. Frequency: As needed. Respondents: Bank holding companies (BHCs). Estimated number of respondents: 1. E:\FR\FM\21AUN1.SGM 21AUN1 Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices Estimated average hours per response: 2. Estimated annual burden hours: 2. General description of report: The FR 4021 consists of the notice that BHCs may file to request permission to administer the Regulation Y revenue limit on nonfinancial data processing activities on a business-line or multipleentity basis. A BHC may submit such a request to the Board’s General Counsel in letter form. The request should describe the structure of the requesting BHC’s data processing operations, the methodology the BHC proposes to use to administer the 49-percent revenue limit, and the reasons why the BHC believes that the proposed methodology is appropriate. Legal authorization and confidentiality: The Board is authorized to collect the information associated with the notification process from BHCs pursuant to 12 U.S.C. 1843(c)(8) and (k). The submission of the notification (request) associated with the FR 4021 is required to obtain a benefit. To the extent a BHC submits nonpublic commercial or financial information in connection with the FR 4021, which is both customarily and actually treated as private by the BHC, the BHC may request confidential treatment pursuant to exemption 4 of the Freedom of Information Act (FOIA), 5 U.S.C. 552(b)(4). The entity should separately designate such information as ‘‘confidential commercial information’’ or ‘‘confidential financial information,’’ as appropriate, and the Board will treat such designated information as confidential to the extent permitted by law, including the FOIA, 5 U.S.C. 552. Current actions: On February 4, 2020, the Board published a notice in the Federal Register (85 FR 6181) requesting public comment for 60 days on the extension, without revision, of the FR 4021. The comment period for this notice expired on April 6, 2020. The Board did not receive any comments. Board of Governors of the Federal Reserve System, August 17, 2020. Michele Taylor Fennell, Assistant Secretary of the Board. jbell on DSKJLSW7X2PROD with NOTICES [FR Doc. 2020–18370 Filed 8–20–20; 8:45 am] BILLING CODE 6210–01–P VerDate Sep<11>2014 19:04 Aug 20, 2020 Jkt 250001 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. ACTION: Temporary approval of information collection, request for comment. AGENCY: 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 October 20, 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 SUMMARY: PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 51715 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. 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. SUPPLEMENTARY INFORMATION: E:\FR\FM\21AUN1.SGM 21AUN1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Pages 51714-51715]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18370]


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

FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Notification of Nonfinancial Data Processing Activities (FR 4021; OMB 
No. 7100-0306).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551, (202) 
452-3829. Office of Management and Budget (OMB) Desk Officer--Shagufta 
Ahmed--Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be placed into OMB's public docket files. 
These documents also are available on the 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. Board-
approved collections of information are incorporated into the official 
OMB inventory of currently approved collections of information. Copies 
of the PRA Submission, supporting statements, and approved collection 
of information instrument(s) are placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Notification of Nonfinancial Data Processing 
Activities.
    Agency form number: FR 4021.
    OMB control number: 7100-0306.
    Frequency: As needed.
    Respondents: Bank holding companies (BHCs).
    Estimated number of respondents: 1.

[[Page 51715]]

    Estimated average hours per response: 2.
    Estimated annual burden hours: 2.
    General description of report: The FR 4021 consists of the notice 
that BHCs may file to request permission to administer the Regulation Y 
revenue limit on nonfinancial data processing activities on a business-
line or multiple-entity basis. A BHC may submit such a request to the 
Board's General Counsel in letter form. The request should describe the 
structure of the requesting BHC's data processing operations, the 
methodology the BHC proposes to use to administer the 49-percent 
revenue limit, and the reasons why the BHC believes that the proposed 
methodology is appropriate.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information associated with the notification process from 
BHCs pursuant to 12 U.S.C. 1843(c)(8) and (k). The submission of the 
notification (request) associated with the FR 4021 is required to 
obtain a benefit. To the extent a BHC submits nonpublic commercial or 
financial information in connection with the FR 4021, which is both 
customarily and actually treated as private by the BHC, the BHC may 
request confidential treatment pursuant to exemption 4 of the Freedom 
of Information Act (FOIA), 5 U.S.C. 552(b)(4). The entity should 
separately designate such information as ``confidential commercial 
information'' or ``confidential financial information,'' as 
appropriate, and the Board will treat such designated information as 
confidential to the extent permitted by law, including the FOIA, 5 
U.S.C. 552.
    Current actions: On February 4, 2020, the Board published a notice 
in the Federal Register (85 FR 6181) requesting public comment for 60 
days on the extension, without revision, of the FR 4021. The comment 
period for this notice expired on April 6, 2020. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, August 17, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-18370 Filed 8-20-20; 8:45 am]
BILLING CODE 6210-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.