Proposed Collection; Comment Request, 16842-16843 [2021-06564]

Download as PDF 16842 Federal Register / Vol. 86, No. 60 / Wednesday, March 31, 2021 / Notices • CFPB Innovation Spotlight on Providing Adverse Action Notices When Using AI/ ML Models 14 particular facts and circumstances. Some laws and regulations are applicable to any process or tool a financial institution employs, regardless of whether a financial institution utilizes AI or how. Laws and Regulations • Section 39 of the Federal Deposit Insurance Act as implemented through the agencies’ safety and soundness regulations 8 • Sections 501 and 505(b) of Gramm-LeachBliley Act as implemented through the agencies’ regulations and standards, including Interagency Guidelines Establishing Information Security Standards 9 • Fair Credit Reporting Act (FCRA)/Reg. V • Equal Credit Opportunity Act (ECOA)/Reg. B • Fair Housing Act (FHA) • Section 5 of the Federal Trade Commission Act (prohibiting UDAP) and sections 1031 and 1036 of the Dodd-Frank Act (prohibiting unfair, deceptive, or abusive acts or practices (UDAAP)) Supervisory Guidance and Statements • Interagency Statement on the Use of Alternative Data in Credit Underwriting 10 • Supervisory Guidance on Model Risk Management 11 • Third-Party/Outsourcing Risk Management 12 • New, Modified, or Expanded Bank Products and Services 13 Examination Manuals/Procedures/Other Resources • Federal Financial Institutions Examination Council Information Technology Examination Handbook 15 • Consumer Compliance Manuals and Booklets 16 • Interagency Fair Lending Examination Procedures 17 • CFPB Examination Procedures, ECOA Baseline Review Module 5: Fair Lending Risks Related to Models 18 Blake J. Paulson, Acting Comptroller of the Currency. By order of the Board of Governors of the Federal Reserve System. Ann Misback, Secretary of the Board. Federal Deposit Insurance Corporation. Dated at Washington, DC, on or about February 25, 2021. James P. Sheesley, Assistant Executive Secretary. David Uejio, Acting Director, Bureau of Consumer Financial Protection. Melane Conyers-Ausbrooks, Secretary of the Board, National Credit Union Administration. [FR Doc. 2021–06607 Filed 3–30–21; 8:45 am] jbell on DSKJLSW7X2PROD with NOTICES 8 Refer to the Interagency Guidelines Establishing Standards for Safety and Soundness, 12 CFR 364, Appendix A (FDIC); 12 CFR 263 (FRB); 12 CFR 30, appendix A (OCC). 9 Refer to the Interagency Guidelines Establishing Information Security Standards, 12 CFR 364, Appendix B (FDIC); 12 CFR 208, Appendix D–2 and 12 CFR 225, Appendix F (FRB); 12 CFR 30, appendix B (OCC); Guidelines for Safeguarding Member Information, 12 CFR 748, Appendix A (NCUA). 10 Refer to FDIC FIL–82–2019, https:// www.fdic.gov/news/financial-institution-letters/ 2019/fil19082.html; Federal Reserve CA Letter 19– 11, https://www.federalreserve.gov/supervisionreg/ caletters/caletters.htm; and OCC Bulletin 2019–62, https://www.occ.gov/news-issuances/bulletins/ 2019/bulletin-2019-62.html. 11 Refer to the ‘‘Supervisory Guidance on Model Risk Management,’’ Federal Reserve SR Letter 11– 7, https://www.federalreserve.gov/supervisionreg/ srletters/srletters.htm; OCC Bulletin 2011–12, https://www.occ.gov/news-issuances/bulletins/ 2011/bulletin-2011-12.html; and FDIC Financial Institution Letter (FIL)–22–2017, https:// www.fdic.gov/news/financial-institution-letters/ 2017/fil17022.html. 12 FDIC: Guidance for Managing Third-Party Risk (FIL)–44–2008, https://www.fdic.gov/news/ financial-institution-letters/2008/fil08044.html; OCC Bulletin 2013–29, OCC Bulletin 2020–10; NCUA: Evaluating Third Party Relationships, Supervisory Letter (SL) 07–01 (Oct. 2007); and FRB: Guidance on Outsourcing Risk (SR 13–19), https:// www.federalreserve.gov/supervisionreg/srletters/ srletters.htm. 13 OCC Bulletin 2017–43, https:// www.occ.treas.gov/news-issuances/bulletins/2017/ bulletin-2017-43.html; and NCUA 19–CU–04 (Dec. 2019), https://www.ncua.gov/regulationsupervision/letters-credit-unions-other-guidance/ use-alternative-data-credit-underwriting. VerDate Sep<11>2014 18:54 Mar 30, 2021 Jkt 253001 BILLING CODE 4810–33–P; 6210–01–P; 4810–AM–P; 6714–01–P DEPARTMENT OF THE TREASURY Proposed Collection; Comment Request Departmental offices, Department of the Treasury. SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal AGENCY: 14 Patrice Alexander Ficklin, Tom Pahl, and Paul Watkins, CFPB Blog, Innovation spotlight: Providing adverse action notices when using AI/ML models (July 7, 2020), available at https:// www.consumerfinance.gov/about-us/blog/ innovation-spotlight-providing-adverse-actionnotices-when-using-ai-ml-models/. 15 FFIEC IT Handbook, https:// ithandbook.ffiec.gov/. 16 OCC Consumer Compliance series of Comptroller’s Handbook booklets, https:// www.occ.treas.gov/topics/supervision-andexamination/consumer-compliance/indexconsumer-compliance.html; NCUA: Evaluating Compliance Risk—Updated Compliance Indicators, SL–17–01 (March 2017), https://www.ncua.gov/ regulation-supervision/letters-credit-unions-otherguidance/use-alternative-data-credit-underwriting. 17 Interagency Fair Lending Examination Procedures, https://www.ffiec.gov/PDF/fairlend.pdf. 18 See, CFPB ECOA Baseline Review, p. 24, https://files.consumerfinance.gov/f/documents/ cfpb_supervision-and-examination-manual_ecoabaseline-exam-procedures_2019-04.pdf. PO 00000 Frm 00142 Fmt 4703 Sfmt 4703 agencies to comment on the revision of a currently approved information collection that is to be proposed for approval by the Office of Management and Budget. The Office of International Affairs of the Department of the Treasury is soliciting comments concerning Treasury International Capital (TIC) Form SHL/SHLA, ‘‘Survey of Foreign-Residents’ Holdings of U.S. Securities, including Selected Money Market Instruments’’. DATES: Written comments should be received on or before June 1, 2021 to be assured of consideration. ADDRESSES: Direct all written comments to Dwight Wolkow, International Portfolio Investment Data Systems, Department of the Treasury, Room 1050 MT, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of possible delays in mail delivery, please also notify Mr. Wolkow by email (comments2TIC@do.treas.gov) or by telephone (cell: 202–923–0518). FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and instructions are available on the Treasury International Capital (TIC) Forms web page ‘‘Forms SHL/SHLA | U.S. Department of the Treasury’’. Requests for additional information should be directed to Mr. Wolkow by email (comments2TIC@treasury.gov), or by telephone (cell: 202–923–0518). SUPPLEMENTARY INFORMATION: Title: Treasury International Capital (TIC) Form SHL/SHLA, ‘‘Survey of Foreign-Residents’ Holdings of U.S. Securities, including Selected Money Market Instruments’’. OMB Control Number: 1505–0123. Abstract: This form collects foreignresidents’ holdings of U.S. securities. These data are used by the U.S. Government in the formulation of international financial and monetary policies, and for the computation of the U.S. balance of payments accounts and of the U.S. international investment position. These data are also used to provide information to the public and to meet international reporting commitments. The data collection includes large benchmark surveys (Form SHL) conducted every five years, and smaller annual surveys (Form SHLA) conducted in the non-benchmark years. The data collected under an annual survey are used in conjunction with the results of the preceding benchmark survey and of recent TIC form SLT (‘‘Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents’’) reporting to make economywide estimates for that non-benchmark year. Currently, the determination of who must report in the annual surveys E:\FR\FM\31MRN1.SGM 31MRN1 jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 86, No. 60 / Wednesday, March 31, 2021 / Notices is based primarily on the data submitted during the preceding benchmark survey and on data submitted on SLT reporting. The data requested in the annual survey will generally be the same as requested in the preceding benchmark report. Form SHL is used for the benchmark survey of all significant U.S.-resident custodians and U.S.-resident issuers of securities regarding foreign-residents’ holdings of U.S. securities. In nonbenchmark years, Form SHLA is used for the annual surveys of primarily the largest U.S.-resident custodians and issuers. Current Actions: No changes in the forms (schedules) or instructions are being proposed at this time. Some clarifications and format changes may be made to improve the instructions. Type of Review: Renewal without change of a currently approved collection. Affected Public: Business or other forprofit organizations. Form: TIC SHL/SHLA, Schedules 1 and 2 (1505–0123). Estimated Number of Respondents: An annual average (over five years) of 317, but this varies widely from about 840 in benchmark years (once every five years) to about 185 in other years (four out of every five years). Estimated Average Time per Respondent: An annual average (over five years) of about 133 hours, but this will vary widely from respondent to respondent. (a) In the year of a benchmark survey, which is conducted once every five years, it is estimated that exempt respondents will require an average of 17 hours; for custodians of securities, the estimate is a total of 321 hours on average, but this figure will vary widely for individual custodians; and for issuers of securities that have data to report and are not custodians, the estimate is 61 hours on average. (b) In a non-benchmark year, which occurs four years out of every five years, it is estimated that the largest custodians of securities will require a total of 486 hours on average; and for the largest issuers of securities that have data to report and are not custodians, the estimate is 110 hours on average. The exemption level for custodians and for end-investors is the holding of less than $200 million in reportable U.S. securities owned by foreign residents. The exemption level applies only in benchmark years. Estimated Total Annual Burden Hours: An annual average (over five years) of 42,035 hours. Frequency of Response: Annual. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the VerDate Sep<11>2014 18:54 Mar 30, 2021 Jkt 253001 request for Office of Management and Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether the Survey is necessary for the proper performance of the functions of the Office of International Affairs within the Department of the Treasury, including whether the information collected will have practical uses; (b) the accuracy of the above estimate of the burdens; (c) ways to enhance the quality, usefulness and clarity of the information to be collected; (d) ways to minimize the reporting and/or record keeping burdens on respondents, including the use of information technologies to automate the collection of the data requested; and (e) estimates of capital or start-up costs of operation, maintenance and purchase of services to provide the information requested. Dwight Wolkow, Administrator, International Portfolio Investment Data Reporting Systems. [FR Doc. 2021–06564 Filed 3–30–21; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF THE TREASURY Proposed Collection; Comment Request Departmental Offices; Department of the Treasury. SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal agencies to comment on the revision of a currently approved information collection that is to be proposed for approval by the Office of Management and Budget. The Office of International Affairs of the Department of the Treasury is soliciting comments concerning Treasury International Capital Form SHC/SHCA ‘‘Survey of U.S. Ownership of Foreign Securities including Selected Money Market Instruments.’’ The next such collection is the annual survey to be conducted as of December 31, 2021. DATES: Written comments should be received on or before June 1, 2021 to be assured of consideration. ADDRESSES: Direct all written comments to Dwight Wolkow, International Portfolio Investment Data Systems, Department of the Treasury, Room 1050 MT, 1500 Pennsylvania Avenue NW, Washington DC 20220. In view of possible delays in mail delivery, please also notify Mr. Wolkow by email (comments2TIC@treasury.gov), or by telephone (cell: 202–923–0518). AGENCY: PO 00000 Frm 00143 Fmt 4703 Sfmt 4703 16843 FOR FURTHER INFORMATION CONTACT: Copies of the proposed form and instructions are available on the Treasury International Capital (TIC) Forms web page, Forms SHC/SHCA | U.S. Department of the Treasury. Requests for additional information should be directed to Mr. Wolkow by email (comments2TIC@treasury.gov), or by telephone (cell: 202–923–0518). SUPPLEMENTARY INFORMATION: Title: Treasury International Capital (TIC) Form SHC/SHCA ‘‘U.S. Ownership of Foreign Securities, including Selected Money Market Instruments.’’ OMB Control Number: 1505–0146. Abstract: Form SHC/SHCA is part of the Treasury International Capital (TIC) reporting system, which is required by law (22 U.S.C. 3101 et seq.; E.O. 11961; 31 CFR 129) and is used to conduct annual surveys of U.S. residents’ ownership of foreign securities for portfolio investment purposes. These data are used by the U.S. Government in the formulation of international financial and monetary policies, and for the computation of the U.S. balance of payments accounts and of the U.S. international investment position. These data are also used to provide information to the public and to meet international reporting commitments. The SHC/SHCA survey is part of an internationally coordinated effort under the auspices of the International Monetary Fund to improve data on securities worldwide. Most of the major industrial and financial countries conduct similar surveys. The data collection includes large benchmark surveys (Form SHC) conducted every five years, and smaller annual surveys (Form SHCA) conducted in the non-benchmark years. The data collected under an annual survey are used in conjunction with the results of the preceding benchmark survey and of recent TIC form SLT (‘‘Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents’’) reporting to make economy-wide estimates for that non-benchmark year. Currently, the determination of who must report in the annual surveys is based primarily on the data submitted during the preceding benchmark survey and on data submitted on SLT reports in the survey year. The data requested in the annual survey will generally be the same as requested in the preceding benchmark report. Form SHC is used for the benchmark survey of all significant U.S.-resident custodians and endinvestors regarding U.S. ownership of foreign securities. In non-benchmark years Form SHCA is used for the annual E:\FR\FM\31MRN1.SGM 31MRN1

Agencies

[Federal Register Volume 86, Number 60 (Wednesday, March 31, 2021)]
[Notices]
[Pages 16842-16843]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06564]


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DEPARTMENT OF THE TREASURY


Proposed Collection; Comment Request

AGENCY: Departmental offices, Department of the Treasury.
SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork burdens, invites the general public and 
other Federal agencies to comment on the revision of a currently 
approved information collection that is to be proposed for approval by 
the Office of Management and Budget. The Office of International 
Affairs of the Department of the Treasury is soliciting comments 
concerning Treasury International Capital (TIC) Form SHL/SHLA, ``Survey 
of Foreign-Residents' Holdings of U.S. Securities, including Selected 
Money Market Instruments''.

DATES: Written comments should be received on or before June 1, 2021 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
1050 MT, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of 
possible delays in mail delivery, please also notify Mr. Wolkow by 
email ([email protected]) or by telephone (cell: 202-923-0518).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury International Capital (TIC) 
Forms web page ``Forms SHL/SHLA [verbar] U.S. Department of the 
Treasury''. Requests for additional information should be directed to 
Mr. Wolkow by email ([email protected]), or by telephone (cell: 
202-923-0518).

SUPPLEMENTARY INFORMATION:
    Title: Treasury International Capital (TIC) Form SHL/SHLA, ``Survey 
of Foreign-Residents' Holdings of U.S. Securities, including Selected 
Money Market Instruments''.
    OMB Control Number: 1505-0123.
    Abstract: This form collects foreign-residents' holdings of U.S. 
securities. These data are used by the U.S. Government in the 
formulation of international financial and monetary policies, and for 
the computation of the U.S. balance of payments accounts and of the 
U.S. international investment position. These data are also used to 
provide information to the public and to meet international reporting 
commitments. The data collection includes large benchmark surveys (Form 
SHL) conducted every five years, and smaller annual surveys (Form SHLA) 
conducted in the non-benchmark years. The data collected under an 
annual survey are used in conjunction with the results of the preceding 
benchmark survey and of recent TIC form SLT (``Aggregate Holdings of 
Long-Term Securities by U.S. and Foreign Residents'') reporting to make 
economy-wide estimates for that non-benchmark year. Currently, the 
determination of who must report in the annual surveys

[[Page 16843]]

is based primarily on the data submitted during the preceding benchmark 
survey and on data submitted on SLT reporting. The data requested in 
the annual survey will generally be the same as requested in the 
preceding benchmark report. Form SHL is used for the benchmark survey 
of all significant U.S.-resident custodians and U.S.-resident issuers 
of securities regarding foreign-residents' holdings of U.S. securities. 
In non-benchmark years, Form SHLA is used for the annual surveys of 
primarily the largest U.S.-resident custodians and issuers.
    Current Actions: No changes in the forms (schedules) or 
instructions are being proposed at this time. Some clarifications and 
format changes may be made to improve the instructions.
    Type of Review: Renewal without change of a currently approved 
collection.
    Affected Public: Business or other for-profit organizations.
    Form: TIC SHL/SHLA, Schedules 1 and 2 (1505-0123).
    Estimated Number of Respondents: An annual average (over five 
years) of 317, but this varies widely from about 840 in benchmark years 
(once every five years) to about 185 in other years (four out of every 
five years).
    Estimated Average Time per Respondent: An annual average (over five 
years) of about 133 hours, but this will vary widely from respondent to 
respondent. (a) In the year of a benchmark survey, which is conducted 
once every five years, it is estimated that exempt respondents will 
require an average of 17 hours; for custodians of securities, the 
estimate is a total of 321 hours on average, but this figure will vary 
widely for individual custodians; and for issuers of securities that 
have data to report and are not custodians, the estimate is 61 hours on 
average. (b) In a non-benchmark year, which occurs four years out of 
every five years, it is estimated that the largest custodians of 
securities will require a total of 486 hours on average; and for the 
largest issuers of securities that have data to report and are not 
custodians, the estimate is 110 hours on average. The exemption level 
for custodians and for end-investors is the holding of less than $200 
million in reportable U.S. securities owned by foreign residents. The 
exemption level applies only in benchmark years.
    Estimated Total Annual Burden Hours: An annual average (over five 
years) of 42,035 hours.
    Frequency of Response: Annual.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record. The public is invited to submit written comments 
concerning: (a) Whether the Survey is necessary for the proper 
performance of the functions of the Office of International Affairs 
within the Department of the Treasury, including whether the 
information collected will have practical uses; (b) the accuracy of the 
above estimate of the burdens; (c) ways to enhance the quality, 
usefulness and clarity of the information to be collected; (d) ways to 
minimize the reporting and/or record keeping burdens on respondents, 
including the use of information technologies to automate the 
collection of the data requested; and (e) estimates of capital or 
start-up costs of operation, maintenance and purchase of services to 
provide the information requested.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting 
Systems.
[FR Doc. 2021-06564 Filed 3-30-21; 8:45 am]
BILLING CODE 4810-AK-P
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