Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 23969-23970 [2021-09465]
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Federal Register / Vol. 86, No. 85 / Wednesday, May 5, 2021 / Notices
Estimated annual burden hours:
Reporting: Attachments A and B, 138;
Attachments C through G, 234;
Attachments H and I, 465; Attachment
J, 20; Attachment K, 20; Section
211.5(c)(4) requirements, 1; Section
211.8 requirements, 0; Section 211.10
requirements, 8; Section 211.11
requirements, 5. Disclosure: Attachment
F, 26. Recordkeeping: Section 211.13
requirement, 70.
General description of report: Subpart
A of Regulation K—International
Banking Operations, governs the foreign
investments and activities of member
banks, Edge and agreement
corporations, BHCs, and certain
investments by foreign organizations.
Subpart C of Regulation K governs
investments in export trading
companies by eligible investors.2 The
FR K–1 information collection contains
eleven attachments for the application
and notification requirements in
Subparts A and C of Regulation K. The
Board requires these applications for
regulatory and supervisory purposes
and to allow the Board to fulfill its
statutory obligations under the Federal
Reserve Act (FRA) and the Bank
Holding Company Act of 1956 (BHC
Act). The applications are eventgenerated and provide the Federal
Reserve with information necessary to
evaluate each of the proposed
transactions.
Proposed revisions: The Board
proposes to revise the FR K–1
information collection to account for
several reporting and recordkeeping
provisions in sections 211.5, 211.8,
211.10, 211.11, and 211.13 of Regulation
K that have not been previously cleared
by the Board under the PRA. The Board
is not proposing to create additional
attachments to the FR K–1 to address
these provisions.
Legal authorization and
confidentiality: The Board is authorized
to collect the information required on
the FR K–1 under sections 25 and 25A
of the FRA,3 and sections 4(c)(13),
4(c)(14), and 5(c) of the BHC Act.4
Section 25 of the FRA authorizes the
Board to approve applications to
establish agreement corporations,
establish foreign branches, and invest in
foreign banks in accordance with
regulations prescribed by the Board.
Section 25 also authorizes the Board to
require reports concerning the condition
of these entities. Section 25A of the FRA
2 Eligible investors are BHCs, Edge and agreement
corporations that are subsidiaries of bank holding
companies but are not subsidiaries of banks,
banker’s banks, and foreign banking organizations.
12 CFR 211.32(d).
3 12 U.S.C. 601–604(a) and 611–631.
4 12 U.S.C. 1843(c)(13), 1843(c)(14), and 1844(c).
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23:06 May 04, 2021
Jkt 253001
authorizes the Board to approve the
establishment of Edge corporations, to
issue rules and regulations relating to
these entities, and to require reports
from these entities. Section 4(c)(13) of
the BHC Act authorizes the Board, by
regulation or order, to determine that
BHCs may invest in companies that do
business abroad. Section 4(c)(14) of the
BHC Act authorizes BHCs to invest in
export trading companies, subject to a
notice requirement and disapproval by
the Board. Section 5(c) of the BHC Act
grants the Board reporting and
examination authorities.
The applications and notifications
comprising FR K–1 are required to
obtain a benefit. Individual respondents
may request that information submitted
to the Board through the FR K–1 be kept
confidential. If a respondent requests
confidential treatment, the Board will
determine whether the information is
entitled to confidential treatment on a
case-by-case basis. To the extent a
respondent submits nonpublic
commercial or financial information,
which is both customarily and actually
treated as private by the respondent, the
respondent may request confidential
treatment pursuant to exemption 4 of
the Freedom of Information Act
(FOIA).5 To the extent a respondent
submits personal, medical, or similar
files, the disclosure of which would
constitute an unwarranted invasion of
privacy, the respondent may request
confidential treatment pursuant to
exemption 6 of the FOIA.6 To the extent
that the Board obtains information as
part of the examination process, the
information may be confidential
pursuant to exemption 8 of the FOIA.7
Board of Governors of the Federal Reserve
System, April 29, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021–09426 Filed 5–4–21; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, without revision, the Survey of
AGENCY:
55
U.S.C. 552(b)(4).
U.S.C. 552(b)(6).
7 5 U.S.C. 552(b)(8).
65
PO 00000
Frm 00056
Fmt 4703
Sfmt 4703
23969
Consumer Finances (FR 3059; OMB
7100–0287).
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.
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.
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. Boardapproved collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. The OMB
inventory, as well as copies of the PRA
Submission, supporting statements, and
approved collection of information
instrument(s) are available at https://
www.reginfo.gov/public/do/PRAMain.
These documents are also available on
the Federal Reserve Board’s public
website at https://www.federal
reserve.gov/apps/reportforms/
review.aspx or may be requested from
the agency clearance officer, whose
name appears above.
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Information Collection
Report title: Survey of Consumer
Finances (SCF).
Agency form number: FR 3059.
OMB control number: 7100–0287.
Frequency: Triennial.
Respondents: U.S. families.
Estimated number of respondents:
Pretest, 150; Main survey, 7,000.
Estimated average hours per response:
Pretest, 100 minutes; Main survey, 100
minutes.
Estimated annual burden hours:
Pretest, 250 hours; Main survey, 11,667
hours.
General description of report: This
triennial survey is the only source of
representative information on the
structure of U.S. families’ finances. The
survey would collect data on the assets,
debts, income, work history, pension
rights, use of financial services, and
attitudes of a sample of U.S. families.
Because the ownership of some assets is
relatively concentrated in a small
E:\FR\FM\05MYN1.SGM
05MYN1
23970
Federal Register / Vol. 86, No. 85 / Wednesday, May 5, 2021 / Notices
number of families, the survey would
make a special effort to ensure proper
representation of such assets by
systematically oversampling wealthier
families.
Legal authorization and
confidentiality: Section 2A of the
Federal Reserve Act (FRA) requires that
the Board and the Federal Open Market
Committee (FOMC) maintain long run
growth of the monetary and credit
aggregates commensurate with the
economy’s long run potential to increase
production, so as to promote effectively
the goals of maximum employment,
stable prices, and moderate long-term
interest rates.1 In addition, under
section 12A of the FRA, the FOMC is
required to implement regulations
relating to the open market operations
conducted by Federal Reserve Banks.
Those transactions must be governed
with a view to accommodating
commerce and business and with regard
to their bearing upon the general credit
situation of the country.2 The Board and
the FOMC use the information obtained
from the FR 3059 to help fulfill these
obligations. The FR 3059 is a voluntary
survey.
It is expected that the data collected
would be published in summary form in
the Federal Reserve Bulletin. A version
of the microdata, which would be
altered to protect the identity of
individual respondents, would be made
available to the public through the
Board’s public website. None of the
pretest data would be released to the
public. The information collected on the
FR 3059 that identifies the individual
respondents may be exempt from
disclosure under exemption 6 of the
Freedom of Information Act, which
protects information the disclosure of
which would constitute a clearly
unwarranted invasion of personal
privacy.3
Current actions: On February 3, 2021,
the Board published a notice in the
Federal Register (86 FR 8016)
requesting public comment for 60 days
on the extension, without revision, of
the Survey of Consumer Finances. The
comment period for this notice expired
on April 5, 2021. The Board did not
receive any comments.
Board of Governors of the Federal Reserve
System, April 29, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021–09465 Filed 5–4–21; 8:45 am]
BILLING CODE 6210–01–P
12 U.S.C. 225a.
2 12 U.S.C. 263.
3 5 U.S.C. 552(b)(6).
1
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Jkt 253001
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
Board of Governors of the
Federal Reserve System.
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) is
adopting a proposal to extend for three
years, without revision, the Senior
Financial Officer Surveys (FR 2023;
OMB No. 7100–0223).
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.
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.
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. Boardapproved collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. The OMB
inventory, as well as copies of the PRA
Submission, supporting statements, and
approved collection of information
instrument(s) are available at https://
www.reginfo.gov/public/do/PRAMain.
These documents are also available on
the Federal Reserve Board’s public
website at https://www.federal
reserve.gov/apps/reportforms/
review.aspx or may be requested from
the agency clearance officer, whose
name appears above.
AGENCY:
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, Without Revision, of the
Following Information Collection
Report title: Senior Financial Officer
Surveys.
Agency form number: FR 2023.
OMB control number: 7100–0223.
Frequency: Up to four times a year.
Respondents: Domestically chartered
large depository institutions and foreign
banking organizations.
Estimated number of respondents: 80.
Estimated average hours per response:
3.
Estimated annual burden hours: 960.
PO 00000
Frm 00057
Fmt 4703
Sfmt 4703
General description of report: The
Board uses the surveys in this collection
to gather qualitative and limited
quantitative information about liability
management, the provision of financial
services, and the functioning of key
financial markets. Responses are
obtained from a senior officer at each
participating institution, usually
through an electronic submission.
Although a survey may not be collected
in a given year, the Board may conduct
up to four surveys per year when
informational needs arise and cannot be
met from existing data sources. The
survey does not have a fixed set of
questions; each survey consists of a
limited number of questions directed at
topics of timely interest.
Legal authorization and
confidentiality: The FR 2023 is
authorized by sections 2A, 12A, and 11
of the Federal Reserve Act (‘‘FRA’’).1
Section 2A of the FRA requires that the
Board and the Federal Open Market
Committee (‘‘FOMC’’) maintain long run
growth of the monetary and credit
aggregates commensurate with the
economy’s long run potential to increase
production, so as to promote effectively
the goals of maximum employment,
stable prices, and moderate long-term
interest rates.2 Section 12A of the FRA
further requires the FOMC to implement
regulations relating to the open market
operations conducted by Federal
Reserve Banks with a view to
accommodating commerce and business
and with regard to their bearing upon
the general credit situation of the
country.3 Section 11 of the FRA
authorizes the Board to require reports
from each member bank as it may deem
necessary and authorizes the Board to
prescribe reports of liabilities and assets
from insured depository institutions to
enable the Board to discharge its
responsibility to monitor and control
monetary and credit aggregates.4 The
Board and FOMC use the information
obtained through the FR 2023 to
discharge these responsibilities. Survey
submissions under the FR 2023 are
voluntary.
The questions asked on each survey
will vary. The Board’s ability to keep
confidential responses to the FR 2023
must therefore be determined on a caseby-case basis. Much of the information
collected is likely to constitute
nonpublic commercial or financial
information, which is both customarily
and actually treated as private by the
respondent, and may be kept
31 U.S.C. 5364(a).
12 U.S.C. 225a.
3 12 U.S.C. 263.
4 12 U.S.C. 248(a).
1
2
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05MYN1
Agencies
[Federal Register Volume 86, Number 85 (Wednesday, May 5, 2021)]
[Notices]
[Pages 23969-23970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09465]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
Survey of Consumer Finances (FR 3059; OMB 7100-0287).
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.
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.
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. Board-
approved collections of information are incorporated into the official
OMB inventory of currently approved collections of information. The OMB
inventory, as well as copies of the PRA Submission, supporting
statements, and approved collection of information instrument(s) are
available at https://www.reginfo.gov/public/do/PRAMain. These documents
are also 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.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Report title: Survey of Consumer Finances (SCF).
Agency form number: FR 3059.
OMB control number: 7100-0287.
Frequency: Triennial.
Respondents: U.S. families.
Estimated number of respondents: Pretest, 150; Main survey, 7,000.
Estimated average hours per response: Pretest, 100 minutes; Main
survey, 100 minutes.
Estimated annual burden hours: Pretest, 250 hours; Main survey,
11,667 hours.
General description of report: This triennial survey is the only
source of representative information on the structure of U.S. families'
finances. The survey would collect data on the assets, debts, income,
work history, pension rights, use of financial services, and attitudes
of a sample of U.S. families. Because the ownership of some assets is
relatively concentrated in a small
[[Page 23970]]
number of families, the survey would make a special effort to ensure
proper representation of such assets by systematically oversampling
wealthier families.
Legal authorization and confidentiality: Section 2A of the Federal
Reserve Act (FRA) requires that the Board and the Federal Open Market
Committee (FOMC) maintain long run growth of the monetary and credit
aggregates commensurate with the economy's long run potential to
increase production, so as to promote effectively the goals of maximum
employment, stable prices, and moderate long-term interest rates.\1\ In
addition, under section 12A of the FRA, the FOMC is required to
implement regulations relating to the open market operations conducted
by Federal Reserve Banks. Those transactions must be governed with a
view to accommodating commerce and business and with regard to their
bearing upon the general credit situation of the country.\2\ The Board
and the FOMC use the information obtained from the FR 3059 to help
fulfill these obligations. The FR 3059 is a voluntary survey.
---------------------------------------------------------------------------
\1\ 12 U.S.C. 225a.
\2\ 12 U.S.C. 263.
---------------------------------------------------------------------------
It is expected that the data collected would be published in
summary form in the Federal Reserve Bulletin. A version of the
microdata, which would be altered to protect the identity of individual
respondents, would be made available to the public through the Board's
public website. None of the pretest data would be released to the
public. The information collected on the FR 3059 that identifies the
individual respondents may be exempt from disclosure under exemption 6
of the Freedom of Information Act, which protects information the
disclosure of which would constitute a clearly unwarranted invasion of
personal privacy.\3\
---------------------------------------------------------------------------
\3\ 5 U.S.C. 552(b)(6).
---------------------------------------------------------------------------
Current actions: On February 3, 2021, the Board published a notice
in the Federal Register (86 FR 8016) requesting public comment for 60
days on the extension, without revision, of the Survey of Consumer
Finances. The comment period for this notice expired on April 5, 2021.
The Board did not receive any comments.
Board of Governors of the Federal Reserve System, April 29,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-09465 Filed 5-4-21; 8:45 am]
BILLING CODE 6210-01-P