Proposed Agency Information Collection Activities; Comment Request, 51716-51717 [2020-18371]
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Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices
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.
jbell on DSKJLSW7X2PROD with NOTICES
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: 5,964; FR A–2: 4,123; FR A–3:
13,200.
Estimated average hours per response:
FR A–1: 8 hours; FR A–2: 40 hours; FR
A–3, Lender per-loan certifications: 2
hours; FR A–3, Borrower certifications:
8 hours.
Estimated annual burden hours:
312,656.
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.
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Regulation A requires that borrowers
make two certifications in order to
participate in any emergency lending
authorized under section 13(3). These
certifications, designated in this
information collection as FR A–1,
include that the borrowers are not
insolvent and that they cannot obtain
adequate credit accommodation.
In addition to these certifications, the
Board may establish additional
certification requirements for an
individual emergency lending facility.
The second part of the FR A information
collection, 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 FR A,
designated as the FR A–3, pertains to
reporting requirements specific to the
Main Street Expanded Loan Facility, the
Main Street New Loan Facility, the
Main Street Priority Loan Facility, the
Nonprofit Organization Expanded Loan
Facility, and the Nonprofit Organization
New 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 the
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 is revising
the FR A information collection to
reflect the establishment of the
Nonprofit Organization Expanded Loan
Facility and Nonprofit Organization
New Loan Facility as part of the Main
Street Lending Program. Board staff
have coordinated with staff from
Treasury and the Federal Reserve Banks
to develop certifications that borrowers
and lenders will be required to complete
to participate in the NOELF and
NONLF. These certifications are
substantially similar to the certifications
that have been developed for the other
facilities in the Main Street Lending
Program. Borrowers and lenders will be
required to certify that the participating
borrowers, lenders, and loans meet each
of the eligibility requirements of the
specific facility. Borrowers will also be
required to certify that they have
provided documentation to lenders
related to certain eligibility
requirements. The FR A respondent
counts for all parts of the information
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Frm 00043
Fmt 4703
Sfmt 4703
collection are being revised to reflect
these new facilities and updated
estimates of the Main Street Lending
Program.
Detailed Discussion of Public
Comments: On March 2, 2020, the Board
published a notice in the Federal
Register (85 FR 12295) requesting
public comment for 60 days on the
extension, without revision, of the FR A.
One comment was received; it did not
address aspects of the information
collection as described in 5 CFR
1320.8(d). On May 15, 2020, following
the temporary approval of a first set of
revisions to the FR A, the Board
published a Federal Register notice (85
FR 29447) requesting public comment
for 60 days on those temporary
revisions. On June 4, 2020, following
the temporary approval of a second set
of revisions to the FR A, the Board
published a Federal Register notice (85
FR 34448) requesting public comment
for 60 days on those temporary
revisions. Comments in response to all
of those requests for comment are
expected to be considered, along with
any comments received in response to
this request for comment.
Board of Governors of the Federal Reserve
System, August 17, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–18372 Filed 8–20–20; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to extend for
three years, without revision, the
Recordkeeping Requirements
Associated with the Real Estate Lending
Standards Regulation for State Member
Banks.
DATES: Comments must be submitted on
or before October 20, 2020.
ADDRESSES: You may submit comments,
identified by FR H–5, 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
SUMMARY:
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jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices
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: 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 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
VerDate Sep<11>2014
19:04 Aug 20, 2020
Jkt 250001
solicit comment. In determining
whether to approve a collection of
information, the Board will consider all
comments received from the public and
other agencies.
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.
Proposal Under OMB Delegated
Authority To Extend for Three Years,
Without Revision, the Following
Information Collection
Report title: Recordkeeping
Requirements Associated with the Real
Estate Lending Standards Regulation for
State Member Banks.
Agency form number: FR H–5.
OMB control number: 7100–0261.
Frequency: Policy statement,
annually; policy statement (de novo),
annually; recordkeeping for loans with
loan-to-value (LTV’s) that exceed
supervisory limits and maintaining a
system of review, quarterly.
Respondents: State member banks.
Estimated number of respondents:
754.
Estimated average hours per response:
Policy statement, 5 hours; policy
statement (de novo), 20 hours;
recordkeeping for loans with LTV’s that
exceed supervisory limits and
maintaining a system of review, 5 hours.
Estimated annual burden hours:
Policy statement, 3,770 hours; policy
PO 00000
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51717
statement (de novo), 20 hours;
recordkeeping for loans with LTV’s that
exceed supervisory limits and
maintaining a system of review, 15,080
hours.
General description of report:
Pursuant to the Board’s Regulation H,
state member banks (SMBs) must adopt
and maintain a written real estate
lending policy. Additionally, this
information collection includes certain
voluntary recordkeeping provisions in
the Interagency Guidelines for Real
Estate Lending Policies (Guidelines).1
Legal authorization and
confidentiality: The FR H–5 is
authorized by section 304 of the Federal
Deposit Insurance Corporation
Improvement Act of 1991 (FDICIA),2
which provides that ‘‘each appropriate
Federal banking agency shall adopt
uniform regulations prescribing
standards for extensions of credit that
are—(A) secured by liens on interests in
real estate; or (B) made for the purpose
of financing the construction of a
building or other improvements to real
estate.’’ 3 The recordkeeping
requirement contained in the Board’s
Regulation H is mandatory. The
recordkeeping provisions in the
Guidelines are voluntary, as the
Guidelines are nonbinding guidance.
Because these records would be
maintained at each banking
organization, the Freedom of
Information Act (‘‘FOIA’’) would only
be implicated if the Board obtained such
records as part of the examination or
supervision of a banking organization.
In the event the records are obtained by
the Board as part of an examination or
supervision of a financial institution,
this information may be considered
confidential pursuant to exemption 8 of
the FOIA, which protects information
contained in ‘‘examination, operating,
or condition reports’’ obtained in the
bank supervisory process.4 In addition,
the information may also be kept
confidential under exemption 4 of the
FOIA, which protects ‘‘commercial or
financial information obtained from a
person [that is] privileged or
confidential.’’ 5
Board of Governors of the Federal Reserve
System, August 17, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020–18371 Filed 8–20–20; 8:45 am]
BILLING CODE 6210–01–P
See 12 CFR part 208, Appendix C.
12 U.S.C. 1828(o).
3 12 U.S.C. 1828(o)(1). The Board also has the
authority to require reports from state member
banks (12 U.S.C. 248(a) and 324).
4 5 U.S.C. 552(b)(8).
5 5 U.S.C. 552(b)(4).
1
2
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]]>Agencies
[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Pages 51716-51717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18371]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Recordkeeping Requirements Associated with the Real
Estate Lending Standards Regulation for State Member Banks.
DATES: Comments must be submitted on or before October 20, 2020.
ADDRESSES: You may submit comments, identified by FR H-5, 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
[[Page 51717]]
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: 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 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.
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.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Report title: Recordkeeping Requirements Associated with the Real
Estate Lending Standards Regulation for State Member Banks.
Agency form number: FR H-5.
OMB control number: 7100-0261.
Frequency: Policy statement, annually; policy statement (de novo),
annually; recordkeeping for loans with loan-to-value (LTV's) that
exceed supervisory limits and maintaining a system of review,
quarterly.
Respondents: State member banks.
Estimated number of respondents: 754.
Estimated average hours per response: Policy statement, 5 hours;
policy statement (de novo), 20 hours; recordkeeping for loans with
LTV's that exceed supervisory limits and maintaining a system of
review, 5 hours.
Estimated annual burden hours: Policy statement, 3,770 hours;
policy statement (de novo), 20 hours; recordkeeping for loans with
LTV's that exceed supervisory limits and maintaining a system of
review, 15,080 hours.
General description of report: Pursuant to the Board's Regulation
H, state member banks (SMBs) must adopt and maintain a written real
estate lending policy. Additionally, this information collection
includes certain voluntary recordkeeping provisions in the Interagency
Guidelines for Real Estate Lending Policies (Guidelines).\1\
---------------------------------------------------------------------------
\1\ See 12 CFR part 208, Appendix C.
---------------------------------------------------------------------------
Legal authorization and confidentiality: The FR H-5 is authorized
by section 304 of the Federal Deposit Insurance Corporation Improvement
Act of 1991 (FDICIA),\2\ which provides that ``each appropriate Federal
banking agency shall adopt uniform regulations prescribing standards
for extensions of credit that are--(A) secured by liens on interests in
real estate; or (B) made for the purpose of financing the construction
of a building or other improvements to real estate.'' \3\ The
recordkeeping requirement contained in the Board's Regulation H is
mandatory. The recordkeeping provisions in the Guidelines are
voluntary, as the Guidelines are nonbinding guidance.
---------------------------------------------------------------------------
\2\ 12 U.S.C. 1828(o).
\3\ 12 U.S.C. 1828(o)(1). The Board also has the authority to
require reports from state member banks (12 U.S.C. 248(a) and 324).
---------------------------------------------------------------------------
Because these records would be maintained at each banking
organization, the Freedom of Information Act (``FOIA'') would only be
implicated if the Board obtained such records as part of the
examination or supervision of a banking organization. In the event the
records are obtained by the Board as part of an examination or
supervision of a financial institution, this information may be
considered confidential pursuant to exemption 8 of the FOIA, which
protects information contained in ``examination, operating, or
condition reports'' obtained in the bank supervisory process.\4\ In
addition, the information may also be kept confidential under exemption
4 of the FOIA, which protects ``commercial or financial information
obtained from a person [that is] privileged or confidential.'' \5\
---------------------------------------------------------------------------
\4\ 5 U.S.C. 552(b)(8).
\5\ 5 U.S.C. 552(b)(4).
Board of Governors of the Federal Reserve System, August 17,
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-18371 Filed 8-20-20; 8:45 am]
BILLING CODE 6210-01-P
