Agency Information Collection Activities: Announcement of Temporary Approval by the Board Under Delegated Authority and Submission to OMB, 51715-51716 [2020-18372]
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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
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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
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
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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:
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51716
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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19:04 Aug 20, 2020
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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
PO 00000
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:
E:\FR\FM\21AUN1.SGM
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]]>Agencies
[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Pages 51715-51716]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18372]
-----------------------------------------------------------------------
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.
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 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: [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.
[[Page 51716]]
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: 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. 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 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
