Proposed Collection; Comment Request, 16842-16843 [2021-06564]
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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]
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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.
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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.
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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
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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
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Fmt 4703
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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]
-----------------------------------------------------------------------
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