Proposed Agency Information Collection Activities; Comment Request, 16365-16368 [2021-06379]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 86, Number 58 (Monday, March 29, 2021)]
[Notices]
[Pages 16365-16368]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06379]


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FEDERAL RESERVE SYSTEM

[FR 2052a; OMB No. 7100-0361]


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Complex Institution Liquidity Monitoring Report.

DATES: Comments must be submitted on or before May 28, 2021.

ADDRESSES: You may submit comments, identified by FR 2052a, 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.

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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, 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 above.

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, With 
Revision, the Following Information Collection

    Report title: Complex Institution Liquidity Monitoring Report.
    Agency form number: FR 2052a.
    OMB control number: 7100-0361.
    Frequency: Monthly, daily.
    Respondents: Certain U.S. bank holding companies (BHCs), top-tier 
savings and loan holding companies (SLHCs), U.S. global systemically 
important BHCs, and foreign banking organizations (FBOs).
    Estimated number of respondents: Monthly (ongoing): 26, monthly 
(one-time): 26; daily (ongoing): 15, daily (one-time): 15.
    Estimated average hours per response: Monthly (ongoing): 121, 
monthly (one-time): 140; daily (ongoing): 221, daily (one-time): 238.
    Estimated annual burden hours: Monthly (ongoing): 37,752; monthly 
(one-time): 3,640; daily (ongoing): 828,750; daily (one-time): 3,570.
    General description of report: The FR 2052a collects quantitative 
information on select assets, liabilities, funding activities, and 
contingent liabilities of certain large banking organizations with $100 
billion or more in total consolidated assets supervised by the Board on 
a consolidated basis. The Board uses this information to monitor the 
liquidity profile of these banking organizations.
    Proposed revisions: In April 2020, the Board issued an interim 
final rule that amended the Board's Regulation D (12 CFR part 204--
Reserve Requirements of Depository Institutions). The Regulation D 
amendment resulted in an expansion of Regulation D's definition of 
transaction accounts to permit the inclusion of accounts that were 
formerly subject to transfer limit requirements. For purposes of the FR 
2052a, the Board proposes to expand the term ``Transactional Accounts'' 
to include the

[[Page 16366]]

subset of transaction accounts as defined under Regulation D, where the 
depositor is not required by the deposit contract to give written 
notice of an intended withdrawal. Specifically, the Board proposes to 
update the definition for the product ``O.D.1: Transactional 
Accounts,'' consistent with the updated Regulation D.
    In June 2016, the Board, the Federal Deposit Insurance Corporation 
(FDIC), and the Office of the Comptroller of the Currency (OCC) 
(collectively, the agencies) proposed the net stable funding ratio 
(NSFR) rule to implement a stable funding requirement for certain large 
banking organizations that were subject to the liquidity coverage ratio 
(LCR) rule at that time. The proposed NSFR rule would have introduced a 
quantitative metric to measure a banking organization's funding 
stability over a one-year time horizon. The agencies issued two 
proposals subsequent to issuance of the proposed NSFR rule to revise 
the criteria for determining the scope of application of the NSFR 
requirement (tailoring proposals). The agencies issued an NSFR final 
rule on October 20, 2020, that is generally similar to the proposed 
NSFR rule, with certain adjustments. The proposed FR 2052a revisions, 
discussed in detail below, are consistent with the requirements of the 
NSFR final rule.
    The Board proposes the following revisions to the reporting form 
and instructions of the FR 2052a to accurately reflect the NSFR final 
rule and to capture other data elements necessary to monitor banking 
organizations' liquidity positions and compliance with Liquidity Risk 
Measurement (LRM) Standards. Specifically, the Board proposes to add:
    1. The definition of Liquidity Risk Measurement Standards and other 
clarifications under ``General Instructions.''
    2. Clarifications and regulation references under ``Field 
Definitions.''
    3. The following Counterparty types under ``Field Definitions'': 
Pension Fund; Broker-Dealer; Investment Company or Advisor; Financial 
Market Utility; Other Supervised Non-Bank Financial Entity; and Non-
Regulated Fund; and to remove Supervised Non-Bank Financial Entity and 
Other Financial Entity.
    4. The following fields under ``Field Definitions'': Business Line; 
Risk Weight; Collection Reference; Product Reference; Sub-product 
Reference; Netting Eligible; Encumbrance Type; Collateral Level; 
Accounting Designation; Loss Absorbency; G-SIB; and Maturity 
Optionality.
    5. A sentence to the description of ``flags'' under the field 
``Settlement'': ``FICC: secured financing transactions that are cleared 
and novated to the Fixed Income Clearing Corporation (FICC).''
    6. The following language to the ``Triparty'' flag under the field 
``Settlement'': ``excluding transactions that originate on the tri-
party platform, but are novated to FICC (e.g., the General Collateral 
Finance repo service).''
    7. The following language to the ``Bilateral'' flag under the field 
``Settlement'': ``(excludes transactions that are initiated 
bilaterally, but subsequently cleared (e.g., FICC delivery-vs-payment 
transactions).''
    8. Clarifications to the general guidance, names, and definitions 
of products under ``I.A: Inflows-Assets''; ``I.U: Inflows-Unsecured''; 
``I.S: Inflows-Secured''; ``I.O: Inflows-Other''; ``O.W: Outflows-
Wholesale''; ``O.S: Outflows-Secured''; ``O.D: Outflows-Deposits''; 
``O.O: Outflows-Other''; and ``S.FX: Supplemental-Foreign Exchange''.
    9. The product I.A.7: Encumbered Assets, which refers to encumbered 
assets of which the reporting entity is the beneficial owner (i.e., the 
assets are represented on the accounting balance sheet), that are not 
otherwise captured under other FR 2052a balance sheet products in the 
I.A, I.U, or I.S tables.
    10. I.U.7: Cash Items in the Process of Collection, which refers to 
certain items that are customarily cleared or collected as cash items 
by depository institutions in the country where the covered company's 
office that is clearing or collecting the item is located.
    11. I.U.8: Unposted Debits, which refers to cash items in a 
subsidiary depository institution's possession, drawn on itself, that 
are immediately chargeable, but that have not been charged to the 
general ledger deposit control account at the close of business on the 
report date.
    12. I.U.9: Short-Term Investments, which refers to balances, 
including, but not limited to time deposits, that are held as short-
term investments (e.g., reported in schedule HC-B on the FR Y-9C) at 
external financial counterparties.
    13. I.S.7: Outstanding Draws on Secured Revolving Facilities, which 
refers to the existing loan arising from the drawn portion of a 
revolving facility (e.g., a general working capital facility) extended 
by the reporting entity, where the facility is secured by a lien on an 
asset or pool of assets.
    14. I.S.8: Other Secured Loans (Non-Rehypothecatable), which refers 
to all other secured lending that does not otherwise meet the 
definitions of the other Inflows-Secured products, for which the 
collateral received is not contractually rehypothecable.
    15. I.S.9: Synthetic Customer Longs, which refers to total return 
swaps booked in client accounts, where the reporting entity is 
economically short the underlying reference asset and the client is 
economically long.
    16. I.S.10: Synthetic Firm Sourcing, which refers to total return 
swaps that are not booked in client accounts, where the reporting 
entity is economically short the underlying reference asset and the 
counterparty is economically long.
    17. O.S.9: Synthetic Customer Shorts, which refers to total return 
swaps booked in client accounts, where the reporting entity is 
economically long the underlying reference asset and the client is 
economically short.
    18. O.S.10: Synthetic Firm Financing, which refers to total return 
swaps that are not booked in client accounts, where the reporting 
entity is economically long the underlying reference asset and the 
counterparty is economically short.
    19. O.S.11: Other Secured Financing Transactions, this data field 
previously was O.S.9, it has been renumbered to be O.S.11. No other 
aspects of the data field has changed.
    20. O.D.5: Excess Balances in Operational Accounts, which refers to 
deposits from counterparties that are not Retail or Small Business 
customers that are excluded from the reporting entity's operational 
deposit amount based on the reporting entity's methodology for 
identifying excess balances pursuant to 12 CFR 249.4(b)(5).
    21. O.D.9: Stable Affiliated Sweep Account Balances, which refers 
to stable deposit balances held at the reporting entity by a customer 
or counterparty through a contractual feature that automatically 
transfers to the reporting entity from an affiliated financial company 
at the close of each business day the amounts identified under the 
agreement governing the account from which the amount is being 
transferred.
    22. O.D.10: Less Stable Affiliated Sweep Account Balances, which 
refers to all other deposit balances, excluding those reported under 
O.D.9: Stable Affiliated Sweep Account Balances, that are held at the 
reporting entity by a customer or counterparty as a result of a 
contractual feature that automatically transfers to the reporting 
entity from an affiliated financial company at the close of each 
business day the amounts identified under the agreement governing the 
account from which the amount is being transferred.

[[Page 16367]]

    23. S.DC: Supplemental-Derivatives and Collateral table and the 
associated elements below.
    24. S.DC General Guidance, which defines the scope of products to 
be reported in the Supplemental-Derivatives and Collateral table.
    25. S.DC.1: Gross Derivative Asset Values, which refers to the 
aggregate value of derivative transactions not subject to qualifying 
master netting agreements that are assets and the net value of 
derivative transactions within qualifying master netting agreements 
where the netting sets are assets.
    26. S.DC.2: Gross Derivative Liability Values, which refers to the 
aggregate value of derivative transactions not subject to qualifying 
master netting agreements that are liabilities and the net value of 
derivative transactions within qualifying master netting agreements 
where the netting sets are liabilities.
    27. S.DC.3: Derivative Settlement Payments Delivered, which refers 
to the cumulative value of payments delivered as variation margin on 
outstanding derivative contracts for the purpose of settling a change 
in the market value of the contract (e.g., ``settled-to-market'' 
derivatives).
    28. S.DC.4: Derivative Settlement Payments Received, which refers 
to the cumulative value of payments received as variation margin on 
outstanding derivative contracts for the purpose of settling a change 
in the market value of the contract (e.g., ``settled-to-market'' 
derivatives).
    29. S.DC.11: Derivative CCP Default Fund Contribution, which refers 
to the reporting entity's contributions to a central counterparty's 
mutualized loss-sharing arrangement, where the reporting entity's 
clearing activity with the central counterparty includes derivative 
transactions.
    30. S.DC.12: Other CCP Pledges and Contributions, which refers to 
the reporting entity's asset pledges (e.g., in the form of initial 
margin) and contributions to a central counterparty's mutualized loss 
sharing arrangement, where the reporting entity's clearing and/or 
settlement activity with the central counterparty does not include 
derivative transactions.
    31. S.L: Supplemental LRM table and the associated elements below.
    32. S.L.2: Subsidiary Liquidity Available for Transfer, which 
refers to the amount of excess eligible high-quality liquid assets 
(HQLA) that is held at a subsidiary of the consolidated reporting 
entity that is determined as transferrable as per sections 
22(b)(3)(i)(B), 22(b)(3)(ii)(B) or 22(b)(4)(ii) of the LRM Standards.
    33. S.L.6: Liquidity Coverage Ratio, which refers to the reporting 
entity's LCR calculation, as specified in section 10(c) of the LRM 
Standards. Only reporting entities that are subject to the LCR on a 
standalone basis per section 1 of the LRM Standards are required to 
report this product.
    34. S.L.7: Subsidiary Funding That Cannot be Transferred, which 
refers to the amount of stable funding at a reporting entity's 
subsidiary that is in excess of the required stable funding amount of 
that subsidiary, pursuant to the LRM Standards, but cannot be 
transferred to the reporting entity due to statutory, regulatory, 
contractual or supervisory restrictions.
    35. S.L.8: Subsidiary Funding Available for Transfer, which refers 
to the amount of stable funding at a reporting entity's subsidiary that 
is in excess of the required stable funding amount of that subsidiary, 
pursuant to the LRM Standards, that is determined as transferrable as 
per section 108(a)(2) of the LRM Standards.
    36. S.L.9: Additional Funding Requirement for Off-Balance Sheet 
Rehypothecated Assets, which refers to a reporting entity's required 
stable funding amount under section 106(d)(3) of the LRM Standards.
    37. S.L.10: Net Stable Funding Ratio, which refers to the reporting 
entity's NSFR calculation, as specified in section 100(b) of the LRM 
Standards. Only reporting entities that are subject to the NSFR on a 
standalone basis per section 1 of the LRM Standards are required to 
report this product.
    38. S.B: Supplemental-Balance Sheet table and the associated 
elements below.
    39. S.B: General Guidance, which explains that the products S.B.1 
through S.B.6 represent data elements that are necessary, in tandem 
with other FR 2052a balance sheet products, to construct an accounting 
balance sheet.
    40. S.B.1: Regulatory Capital Element, which refers to the carrying 
value of regulatory capital, as defined in section 3 of the LRM 
Standards, excluding capital instruments already reported in the O.W. 
table.
    41. S.B.2: Other Liabilities, which refers to all other liabilities 
not otherwise captured under other FR 2052a balance sheet products, 
including intangible liabilities.
    42. S.B.3: Non-Performing Assets, which refers to assets that are 
past due by more than 90 days or non-accrual.
    43. S.B.4: Other Assets, which refers to all other assets not 
otherwise captured under other FR 2052a balance sheet products, 
including intangible, life insurance and deferred tax assets.
    44. S.B.5: Counterparty Netting, which refers to the value of 
offsetting of payables and receivables with a single counterparty 
permissible under section 102 of the LRM Standards that are otherwise 
reported on a gross basis for the purpose of the FR 2052a.
    45. S.B.6: Carrying Value Adjustment, which refers to all other 
adjustments to the value of FR 2052a balance sheet products necessary 
to arrive at the carrying value consistent with section 102 of the LRM 
Standards.
    46. The following language to the description of ``S.I.3: Gross 
Client Wires Received,'': ``Include transfers of both cash and 
securities. Use the [Collateral Class] field to differentiate between 
asset categories.''
    47. The following language to the description of ``S.I.4: Gross 
Client Wires Paid,'': ``Include transfers of both cash and securities. 
Use the [Collateral Class] field to differentiate between asset 
categories.''
    48. S.I.6: Subsidiary Liquidity Not Transferrable, which refers to, 
for U.S. firms that are identified as Category IV banking organizations 
and foreign banking organizations that are identified as Category IV 
foreign banking organizations, a report of the amount of highly liquid 
assets of each reporting entity's consolidated subsidiaries that are in 
excess of the subsidiary's modeled net outflows over a 30-day planning 
horizon and would not be freely transferrable to the parent company due 
to statutory, regulatory, contractual, or supervisory restrictions 
(including sections 23A and 23B of the Federal Reserve Act and 
Regulation W).
    Additionally, the Board proposes to reclassify the following items 
from the Supplemental Information table to the new Supplemental-
Derivatives and Collateral and Liquidity Risk Measurement (LRM) tables 
and include clarifications:
    1. S.DC.5: Initial Margin Posted--House, which refers to the fair 
value of collateral that the reporting entity has posted (total stock 
by applicable [Collateral Class]) to its counterparties as initial 
margin on its own proprietary derivatives positions.
    2. S.DC.6: Initial Margin Posted--Customer, which refers to the 
fair value of collateral that the reporting entity has posted (total 
stock by applicable [Collateral Class]) to its counterparties as 
initial margin on behalf of customers.
    3. S.DC.7: Initial Margin Received, which refers to the fair value 
of collateral that the reporting entity has received (total stock by 
applicable [Collateral Class]) from its counterparties as initial 
margin against both house and customer positions.

[[Page 16368]]

    4. S.DC.8: Variation Margin Posted--House, which refers to the fair 
value of collateral that the reporting entity has posted (total stock 
by applicable [Collateral Class]) to its counterparties as variation 
margin on its own proprietary derivatives positions.
    5. S.DC.9: Variation Margin Posted--Customer, which refers to the 
fair value of collateral that the reporting entity has posted (total 
stock by applicable [Collateral Class]) to its counterparties as 
variation margin on behalf of customers.
    6. S.DC.10: Variation Margin Received, which refers to the fair 
value of collateral that the reporting entity has received (total stock 
by applicable [Collateral Class]) from its counterparties as variation 
margin against both house and customer positions.
    7. S.DC.13: Collateral Disputes Deliverables, which refers to the 
fair value of collateral called by the reporting entity's 
counterparties that the reporting entity has yet to deliver due to a 
dispute. Disputes include, but are not limited to, valuation of 
derivative contracts.
    8. S.DC.14: Collateral Disputes Receivables, which refers to the 
fair value of collateral that the reporting entity has called from its 
counterparties, but has not yet received due to a dispute. Disputes 
include, but are not limited to, valuation of derivative contracts.
    9. S.DC.15: Sleeper Collateral Deliverables, which refers to the 
fair value of unsegregated collateral that the reporting entity may be 
required by contract to return to a counterparty because the collateral 
currently held by the reporting entity exceeds the counterparty's 
current collateral requirements under the governing contract.
    10. S.DC.16: Required Collateral Deliverables, which refers to the 
fair value of collateral that the reporting entity is contractually 
obligated to post to a counterparty, but has not yet posted as it has 
not yet been called by the reporting entity's counterparty.
    11. S.DC.17: Sleeper Collateral Receivables, which refers to the 
fair value of collateral that the reporting entity could call for or 
otherwise reclaim under legal documentation, but has not yet been 
called.
    12. S.DC.18: Derivative Collateral Substitution Risk, which refers 
to the potential funding risk arising from the reporting entity's 
derivative counterparties having the contractual ability to substitute 
collateral with higher liquidity value currently held by the reporting 
entity with collateral of lower liquidity value or collateral that the 
reporting entity cannot monetize either due to liquidity or operational 
constraints.
    13. S.DC.19: Derivative Collateral Substitution Capacity, which 
refers to the potential funding capacity arising from the reporting 
entity's contractual ability to substitute collateral with higher 
liquidity value currently posted to a derivatives counterparty with 
collateral of lower liquidity value.
    14. S.DC.20: Other Collateral Substitution Risk, which refers to 
the potential funding risk arising from the reporting entity's 
counterparties of non-derivative transactions having the contractual 
ability to substitute collateral with higher liquidity value currently 
held by the reporting entity with collateral of lower liquidity value 
or collateral that the reporting entity cannot monetize either due to 
liquidity or operational constraints.
    15. S.DC.21: Other Collateral Substitution Capacity, which refers 
to the potential funding capacity arising from the reporting entity's 
contractual ability to substitute collateral with higher liquidity 
value currently posted to a counterparty of a non-derivative 
transaction with collateral of lower liquidity value.
    16. S.L.1: Subsidiary Liquidity That Cannot be Transferred, which 
refers to the amount of assets of each reporting entity's consolidated 
subsidiaries that is in excess of the net outflows, calculated pursuant 
to the LRM Standards, of that consolidated subsidiary that is not 
freely transferrable to affiliates due to statutory, regulatory, 
contractual, or supervisory restrictions (including sections 23A and 
23B of the Federal Reserve Act and Regulation W).
    17. S.L.3: Unencumbered Asset Hedges--Early Termination Outflows, 
which refers to all cash outflows that would arise from the early 
termination of a hedge associated with eligible HQLA, as defined in the 
LRM Standards, reported in the Inflows-Assets table.
    18. S.L.4: Non-Structured Debt Maturing in Greater than 30-days--
Primary Market Maker, which refers to the debt security buyback outflow 
amount set forth in the LRM Standards for the reporting entity's non-
structured debt issuances.
    19. S.L.5: Structured Debt Maturing in Greater than 30-days--
Primary Market Maker, which refers to the debt security buyback outflow 
amount set forth in the LRM Standards for the reporting entity's 
structured debt issuances.
    Lastly, the Board proposes to remove the following sentence from 
the instructions due to the addition of a data element for the NSFR 
final rule:
    1. In the ``General Guidance'' paragraphs under the I.U: Inflows-
Unsecured and I.S: Inflows-Secured headings: ``Exclude assets that 
secure Covered Federal Reserve Facility Funding.''
    Legal authorization and confidentiality: The information collection 
under the FR 2052a is authorized by section 5 of the Bank Holding 
Company Act,\1\ section 8 of the International Banking Act,\2\ section 
10 of the Home Owners' Loan Act,\3\ and section 165 of the Dodd Frank 
Act.\4\ Section 5(c) of the Bank Holding Company Act authorizes the 
Board to require bank holding companies to submit reports to the Board 
regarding their financial condition. Section 8(a) of the International 
Banking Act subjects foreign banking organizations to the provisions of 
the Bank Holding Company Act. Section 10 of the Home Owners' Loan Act 
authorizes the Board to require reports and examine savings and loan 
holding companies. Section 165 of the Dodd Frank Act requires the Board 
to establish prudential standards for certain bank holding companies 
and foreign banking organizations; these standards include liquidity 
requirements.
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    \1\ 12 U.S.C. 1844.
    \2\ 12 U.S.C. 3106.
    \3\ 12 U.S.C. 1467a.
    \4\ 12 U.S.C. 5365.
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    The FR 2052a is mandatory. The information collected on the FR 
2052a is collected as part of the Board's supervisory process. 
Therefore, such information is entitled to confidential treatment under 
exemption 8 of the Freedom of Information Act (FOIA).\5\ Additionally, 
to the extent a respondent submits nonpublic commercial or financial 
information, which is both customarily and actually treated as private 
by the respondent, in connection with the 2052a, the respondent may 
request confidential treatment pursuant to exemption 4 of the FOIA.\6\
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    \5\ 5 U.S.C. 552(b)(8).
    \6\ 5 U.S.C. 552(b)(4).
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    Consultation outside the agency: The Board consulted with the OCC 
and FDIC in development of the NSFR final rule, which included 
corresponding revisions to the FR 2052a.

    Board of Governors of the Federal Reserve System, March 23, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.

[FR Doc. 2021-06379 Filed 3-26-21; 8:45 am]
BILLING CODE 6210-01-P