Proposed Agency Information Collection Activities; Comment Request, 28344-28345 [2021-11151]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 86, Number 100 (Wednesday, May 26, 2021)]
[Notices]
[Pages 28344-28345]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11151]


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FEDERAL RESERVE SYSTEM


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, without 
revision, the Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-
0322).

DATES: Comments must be submitted on or before July 26, 2021.

ADDRESSES: You may submit comments, identified by FR 3052, 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, 
Without Revision, the Following Information Collection:
    Report title: Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100-0322.
    Frequency: On occasion.
    Respondents: May include bank holding companies (BHCs), state 
member banks (SMBs), savings and loan holding companies (SLHCs), 
intermediate holding companies (IHCs), U.S. branches and agencies of 
foreign banking organizations (FBOs), Edge Act and agreement 
corporations, nonbank financial companies that the Financial Stability 
Oversight Council (FSOC) has determined should be supervised by the 
Board, and the combined domestic operations of FBOs.
    Estimated number of respondents: 5,000.
    Estimated average hours per response: 0.5.
    Estimated annual burden hours: 60,000.
    General description of report: The FR 3052 collects information 
from financial institutions specifically tailored to the Federal 
Reserve's supervisory, regulatory, and operational responsibilities. 
The Board utilizes the survey process, as needed, to collect 
information on specific issues that affect its decision making. The 
principal value of the FR 3052 is the flexibility it provides the 
Federal Reserve to respond quickly to the need for data due to 
unanticipated economic, financial, supervisory, or regulatory

[[Page 28345]]

developments. The Board cannot predict what specific information will 
be needed, but such needs are generally very time sensitive. Because 
the relevant questions may change with each survey, there is no fixed 
reporting form. Past surveys have collected information related to 
energy lending exposure, cloud-based data exchange services, regulatory 
capital, Comprehensive Capital Analysis and Review, operational risk 
loss event history, transactions by government securities dealers, and 
small debit card issuers.
    Written qualitative questions or questionnaires may include 
categorical questions, yes-no questions, ordinal questions, and open-
ended questions. Written quantitative surveys may include dollar 
amounts, percentages, numbers of items, interest rates, and other such 
information. Institutions might also be asked to provide copies of 
existing documents (for example, pertaining to practices and 
performances for a particular business activity). Before conducting a 
survey, the Board reviews any information to be collected to determine 
if the information is available by other means.
    Legal authorization and confidentiality: The FR 3052 is authorized 
by a number of statutes authorizing the Board to require reports of 
condition from institutions subject to its supervision. These include 
section 9 of the Federal Reserve Act (FRA),\1\ section 5 of the Bank 
Holding Company Act,\2\ section 10 of the Home Owners' Loan Act,\3\ 
section 7 of the International Banking Act (IBA),\4\ section 8 of the 
IBA,\5\ sections 25 and 25A of the FRA,\6\ and section 161 of the Dodd-
Frank Wall Street Reform and Consumer Protection Act.\7\ Survey 
submissions under the FR 3052 are voluntary.
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    \1\ 12 U.S.C. 324 (requiring state member banks to make reports 
of condition ``in such form and [containing] such information as the 
Board of Governors of the Federal Reserve System may require'').
    \2\ 12 U.S.C. 1844(c)(1)(A) (authorizing the Board to require a 
bank holding company and any subsidiary thereof to submit reports 
regarding financial condition and compliance).
    \3\ 12 U.S.C. 1467a(b)(2) (authorizing the Board to require a 
savings and loan holding company and any subsidiary thereof to 
submit reports containing such information concerning the operation 
of the company or its subsidiaries as the Board may require).
    \4\ 12 U.S.C. 3105(c)(2) (subjecting each branch or agency of a 
foreign bank to the provisions of 12 U.S.C. 324 requiring reports of 
financial condition as if it were a state member bank).
    \5\ 12 U.S.C. 3106(a) (generally subjecting foreign banking 
organizations to the Bank Holding Company Act).
    \6\ 12 U.S.C. 602 and 625 (requiring Edge and agreement 
corporations to ``make reports to the Board of Governors of the 
Federal Reserve System at such times and in such form as it may 
require'').
    \7\ 12 U.S.C. 5361 (authorizing the Board to require reports of 
financial condition and compliance from nonbank financial companies 
subject to the Board's supervision).
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    The questions asked on each survey will vary. The Board's ability 
to keep confidential responses to the FR 3052 must therefore be 
determined on a case-by-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 confidential by the Board pursuant to 
exemption 4 of the Freedom of Information Act (FOIA).\8\ Some survey 
responses may also contain information contained in or related to an 
examination of a financial institution, which may be kept confidential 
under exemption 8 of the FOIA.\9\
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    \8\ 5 U.S.C. 552(b)(4).
    \9\ 5 U.S.C. 552(b)(8).
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    Responses to the FR 3052 are tabulated and summarized at the Board. 
This aggregate information is not considered confidential, and 
aggregate survey information may be cited in published material such as 
Board studies or working papers, professional journals, the Federal 
Reserve Bulletin, testimony and reports to the Congress, or other 
vehicles.

    Board of Governors of the Federal Reserve System, May 21, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-11151 Filed 5-25-21; 8:45 am]
BILLING CODE 6210-01-P