Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 59716-59718 [2021-23432]

Download as PDF 59716 Federal Register / Vol. 86, No. 206 / Thursday, October 28, 2021 / Notices Frequency of Reporting or Use: As needed. Government Expenses: Reviewing Time per Year: 700 hours. Average Wages per Hour: $42.50. Average Cost per Year: $29,750 (time * wages). Benefits and Overhead: 20%. Total Government Cost: $35,700. Bassam Doughman, IT Specialist. [FR Doc. 2021–23471 Filed 10–27–21; 8:45 am] BILLING CODE 6690–01–P EXPORT-IMPORT BANK [Public Notice: 2021–3037] Agency Information Collection Activities: Comment Request Export-Import Bank of the United States. ACTION: Submission for OMB review and comments request. AGENCY: Need and Use: The information requested enables the applicant to provide EXIM with the information necessary to obtain legislatively required assurance of repayment and fulfills other statutory requirements. Affected Public: This form affects entities involved in the export of U.S. goods and services. Annual Number of Respondents: 310. Estimated Time per Respondent: 1.5 hours. Annual Burden Hours: 465 hours. Frequency of Reporting of Use: As needed. Government Costs: Reviewing Time per Year: 465 hours. Average Wages per Hour: $42.50. Average Cost per Year: $19,762.5 (time * wages). Benefits and Overhead: 20%. Total Government Cost: $23,715. Bassam Doughman, IT Specialist. [FR Doc. 2021–23475 Filed 10–27–21; 8:45 am] BILLING CODE 6690–01–P The Export-Import Bank of the United States (EXIM), as a part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal Agencies to comment on the proposed information collection, as required by the Paperwork Reduction Act of 1995. The Application for Exporter Short Term Single Buyer Insurance form will be used by entities involved in the export of U.S. goods and services, to provide EXIM with the information necessary to obtain legislatively required assurance of repayment and fulfills other statutory requirements. Export-Import Bank customers will be able to submit this form on paper or electronically. SUMMARY: Comments must be received on or before November 29, 2021 to be assured of consideration. ADDRESSES: Comments may be submitted electronically on WWW.REGULATIONS.GOV (EIB 10–02) or by email tara.pender@exim.gov, or by mail to Tara Pender, Export-Import Bank of the United States, 811 Vermont Ave. NW, Washington, DC. The application tool can be reviewed at: https://ww.exim.gov/pub/pending/ EIB92-64.pdf. FOR FURTHER INFORMATION CONTACT: To request additional information, please Tara Pender. 202–565–3655. SUPPLEMENTARY INFORMATION: Title and Form Number: EIB 92–64 Application for Exporter Short Term Single Buyer Insurance. OMB Number: 3048–0018. Type of Review: Update & Renewal. jspears on DSK121TN23PROD with NOTICES1 DATES: VerDate Sep<11>2014 17:34 Oct 27, 2021 Jkt 256001 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 implement the Treasury Securities and Agency Debt and Mortgage-Backed Securities Reporting Requirements (FR 2956; OMB No. 7100–NEW). The Board has adopted an implementation timeline with the first reporting under this collection beginning on September 1, 2022. 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 for the Federal Reserve Board, 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 Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or AGENCY: PO 00000 Frm 00023 Fmt 4703 Sfmt 4703 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.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 Implementation of the Following Information Collection Report title: Treasury Securities and Agency Debt and Mortgage-Backed Securities Reporting Requirements. Agency form number: FR 2956. OMB control number: 100–NEW. Frequency: Daily. Respondents: Depository institutions that meet the reporting thresholds and daily transact in trading of marketable U.S. Treasury securities and the trading of the debt and mortgage-backed securities (MBS) issued by agencies. Estimated number of respondents: Treasury securities, 10; Agency debt and MBS, 12. Estimated average hours per response: 3. Estimated annual burden hours: 16,500. General description of report: The FR 2956 will collect detailed data on depository institutions’ daily transactions of marketable U.S. Treasury securities and of the debt and MBS issued by U.S. federal government agencies including governmentsponsored enterprises (agencies). The report will have two parts: Part 1 will collect data on transactions in U.S. Treasury securities, and Part 2 will collect transactions in debt and MBS issued by agencies. Depository institutions subject to reporting under the FR 2956 collection will be required to report all the transaction details, information, and fields as described in the applicable Trade Reporting and Compliance Engine (TRACE) technical documentation, FAQs, and guides located at https://www.finra.org/filingreporting/trace. This information will include, but is not limited to, the Committee on Uniform Securities Identification Procedures (CUSIP) number or similar identifier, the transaction size (volume), price of the transaction, date of trade execution, time of execution, and date of E:\FR\FM\28OCN1.SGM 28OCN1 jspears on DSK121TN23PROD with NOTICES1 Federal Register / Vol. 86, No. 206 / Thursday, October 28, 2021 / Notices settlement. The Board is adopting an implementation timeline for first reporting under this collection of September 1, 2022. Reporting transactions will be eventgenerated and estimated to occur daily. Depository institutions will be required to assess annually whether they meet the reporting criteria. If a depository institution meets the event-generated threshold to report based on the average of its daily transactions from October 1 of the previous year through September 30, the depository institution will be required to begin to report the implemented FR 2956 effective January 1 of the following year and continue reporting such transactions throughout that calendar year.1 If a depository institution that reports on the implemented FR 2956 falls below the threshold based on the average of its daily transactions from October 1 of the previous year through September 30, the depository institution will be required to continue to report through December 31 of that year but will not be required to report for the next calendar year. Every national bank, state member bank, state non-member bank, savings association, or U.S. branch and agency of a foreign bank filing a Notice of Government Securities Broker or Government Dealer Activities Form (Form G–FIN; OMB No. 7100–0224) with average daily transaction volumes of over $100 million for U.S. Treasury securities, or over $50 million for agency-issued debt and MBS, during the prior fiscal year will be subject to the proposed reporting requirements. Depository institutions subject to the reporting requirements of the adopted FR 2956 will electronically report transactions through the Board’s data collection provider, the Financial Industry Regulatory Authority (FINRA), utilizing its Trade Reporting and Compliance Engine (TRACE). Legal authorization and confidentiality: The FR 2956 is authorized by sections 2A and 11 of the Federal Reserve Act (FRA). 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 1 For the initial reporting under FR 2956 beginning on September 1, 2022, depository institutions should assess their transactions from October 1, 2020, through September 30, 2021, to determine whether they will be required to report. 2 12 U.S.C. 225a. Treasury Securities, agency debt, and MBS are an important channel of VerDate Sep<11>2014 17:34 Oct 27, 2021 Jkt 256001 Section 11 of the FRA authorizes the Board to require reports from depository institutions 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.3 The obligation to respond to the FR 2956 is mandatory. The information collected through the FR 2956 may generally be considered confidential under exemption 4 of the Freedom of Information Act as confidential commercial or financial information that is both customarily and actually treated as private.4 Current actions: On January 21, 2021, the Board published a notice in the Federal Register (86 FR 6329) requesting public comment for 60 days on the implementation of the Treasury Securities and Agency Debt and Mortgage-Backed Securities Reporting Requirements. The comment period for this notice expired on March 22, 2021. Detailed Discussion of Public Comments The Board received two public comments on the proposed FR 2956. One commenter raised a few technical questions regarding Market Participant Identity (MPID) as applied to reporting depository institutions under this information collection. To provide greater clarity, the Board anticipates FINRA will assign MPIDs to depository institutions subject to TRACE reporting and include these MPIDs in the Participant Master, which is available to all TRACE reporting participants. Depository institutions that are required to report and have a non-FINRAmember subscriber MPID(s) (for contra use only) will be reassigned a reporting MPID, which will be communicated to the corresponding covered alternative trading system(s) (ATS). Depository institutions that operate an ATS and are required to report will receive a reporting MPID for the ATS distinct from that of a trading desk. Depository institutions that are not required to report and are ATS subscribers will continue to be identified in ATS trade reports using their current MPIDs. One commenter also questioned whether depository institutions would monetary policy transmission. The information to be collected by the FR 2956 is not available from other sources, and collecting these transaction data will help the Board and FOMC better monitor and interpret fluctuations in supply and demand as well as interest rate movements in these key credit aggregates. 312 U.S.C. 248(a). 4 5 U.S.C. 552(b)(4). PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 59717 be eligible to enter into Uniform Service Agreements with broker-dealers and other depository institutions. The Board notes that depository institutions would be required to enter into the Participation Agreement, as do FINRA members, to use the TRACE system. In addition, depository institutions may enter into, and provide to FINRA, a Uniform Services Agreement executed with another depository institution or broker-dealer. In addition, the Board received two comments on the scope and applicability of the reporting requirement. As explained in the ‘‘General description of report’’ section of this notice, only a depository institution that files a Notice of Government Securities Broker or Government Dealer Activities Form (Form G–FIN; OMB No. 7100–0224) with average daily transaction volumes of over $100 million for U.S. Treasury debt, or over $50 million for agencyissued debt and MBS, during the prior fiscal year will be subject to the proposed reporting requirements. Consistent with TRACE reporting by FINRA members and the intent of this collection, reporting institutions will be required to report all Treasury transactions that they are party to, regardless of whether the institution is acting in a dealer capacity or whether activity was with clients inside or outside the United States. The reporting requirements will include all departments or divisions of a reporting institution. The Board received a comment requesting clarification on the supervisory and enforcement authority of the collection. As explained in the ‘‘Legal authorization and confidentiality’’ section of this notice, section 11 of the Federal Reserve Act authorizes the Board to require reports from depository institutions. This collection is being adopted under that authority and nothing in the proposed information collection alters or modifies the supervisory and enforcement authority of the Federal banking agencies over the depository institutions that are subject to the reporting. The Board is using FINRA as its data collection provider and utilizing its TRACE platform. The Board received a comment requesting clarification about the dissemination of Treasury trades as a result of this proposed information collection. The statement about inclusion of depository institution data in TRACE data products available to market participants referred to existing real time and aggregate data products and not the creation of new ones. E:\FR\FM\28OCN1.SGM 28OCN1 59718 Federal Register / Vol. 86, No. 206 / Thursday, October 28, 2021 / Notices The Board also received comments on the implementation timeline and, in particular, how coordinating with FINRA on its own proposed changes would be beneficial. Commenters noted the importance of enough lead time prior to reporting to allow for systems to be implemented or updated as needed. The Board understands the balance between minimizing compliance burdens on depository institutions as well as the critical need to gain insight into this segment of the Treasury securities and agency-issued debt and MBS markets. As a result, the Board intends to provide appropriate lead time to permit depository institutions the necessary time to prepare before the initial reporting under this collection will be required. In addition, the Board anticipates that any modifications adopted by FINRA and incorporated in the Board’s reporting requirement in the future will also provide ample lead time to prepare to comply with any proposed modifications. In response to these comments, the Board is adopting an implementation timeline for first reporting under this collection of September 1, 2022. Board of Governors of the Federal Reserve System, October 21, 2021. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2021–23432 Filed 10–27–21; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Agency for Healthcare Research and Quality Supplemental Evidence and Data Request on Nutrition as Prevention for Improved Cancer Outcomes Agency for Healthcare Research and Quality (AHRQ), HHS. ACTION: Request for supplemental evidence and data submissions. AGENCY: The Agency for Healthcare Research and Quality (AHRQ) is seeking scientific information submissions from the public. Scientific information is being solicited to inform our review on Nutrition as Prevention for Improved Cancer Outcomes, which is currently being conducted by the AHRQ’s Evidence-based Practice Centers (EPC) Program. Access to published and unpublished pertinent scientific information will improve the quality of this review. DATES: Submission Deadline on or before November 29, 2021. jspears on DSK121TN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 17:34 Oct 27, 2021 Jkt 256001 ADDRESSES: Email submissions: epc@ahrq.hhs.gov Print submissions: Mailing Address: Center for Evidence and Practice Improvement, Agency for Healthcare Research and Quality, ATTN: EPC SEADs Coordinator, 5600 Fishers Lane, Mail Stop 06E53A, Rockville, MD 20857 Shipping Address (FedEx, UPS, etc.): Center for Evidence and Practice Improvement, Agency for Healthcare Research and Quality, ATTN: EPC SEADs Coordinator, 5600 Fishers Lane, Mail Stop 06E77D, Rockville, MD 20857 FOR FURTHER INFORMATION CONTACT: Jenae Benns, Telephone: 301–427–1496 or Email: epc@ahrq.hhs.gov. SUPPLEMENTARY INFORMATION: The Agency for Healthcare Research and Quality has commissioned the Evidence-based Practice Centers (EPC) Program to complete a review of the evidence for Nutrition as Prevention for Improved Cancer Outcomes. AHRQ is conducting this technical brief pursuant to Section 902 of the Public Health Service Act, 42 U.S.C. 299a. The EPC Program is dedicated to identifying as many studies as possible that are relevant to the questions for each of its reviews. In order to do so, we are supplementing the usual manual and electronic database searches of the literature by requesting information from the public (e.g., details of studies conducted). We are looking for studies that report on Nutrition as Prevention for Improved Cancer Outcomes, including those that describe adverse events. The entire research protocol is available online at: https:// effectivehealthcare.ahrq.gov/products/ improved-cancer-outcomes/protocol. This is to notify the public that the EPC Program would find the following information on Nutrition as Prevention for Improved Cancer Outcomes helpful: D A list of completed studies that your organization has sponsored for this indication. In the list, please indicate whether results are available on ClinicalTrials.gov along with the ClinicalTrials.gov trial number. D For completed studies that do not have results on ClinicalTrials.gov, a summary, including the following elements: Study number, study period, design, methodology, indication and diagnosis, proper use instructions, inclusion and exclusion criteria, primary and secondary outcomes, baseline characteristics, number of patients screened/eligible/enrolled/lost to follow-up/withdrawn/analyzed, effectiveness/efficacy, and safety results. PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 D A list of ongoing studies that your organization has sponsored for this indication. In the list, please provide the ClinicalTrials.gov trial number or, if the trial is not registered, the protocol for the study including a study number, the study period, design, methodology, indication and diagnosis, proper use instructions, inclusion and exclusion criteria, and primary and secondary outcomes. D Description of whether the above studies constitute ALL Phase II and above clinical trials sponsored by your organization for this indication and an index outlining the relevant information in each submitted file. Your contribution is very beneficial to the Program. Materials submitted must be publicly available or able to be made public. Materials that are considered confidential; marketing materials; study types not included in the review; or information on indications not included in the review cannot be used by the EPC Program. This is a voluntary request for information, and all costs for complying with this request must be borne by the submitter. The draft of this review will be posted on AHRQ’s EPC Program website and available for public comment for a period of 4 weeks. If you would like to be notified when the draft is posted, please sign up for the email list at: https:// www.effectivehealthcare.ahrq.gov/ email-updates. The systematic review will answer the following questions. This information is provided as background. AHRQ is not requesting that the public provide answers to these questions. Key Questions (KQ) KQ 1: In adults diagnosed with cancer who have or are at risk for cancerassociated malnutrition, what is the effect of nutritional interventions prior to cancer treatment in preventing negative treatment outcomes such as effects on dose tolerance, hospital utilizations, adverse events and survival? a. Do the effects of nutritional interventions on preventing the negative outcomes associated with cancer treatment vary by cancer type, treatment type (chemotherapy, radiation, surgery) and stage of disease? b. Do the effects of nutritional interventions vary across the lifespan (e.g., adults aged ≥65 years vs. <65 years)? c. KQ1c: Compared to adults without muscle wasting, do nutritional interventions prevent the negative outcomes associated with cancer E:\FR\FM\28OCN1.SGM 28OCN1

Agencies

[Federal Register Volume 86, Number 206 (Thursday, October 28, 2021)]
[Notices]
[Pages 59716-59718]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23432]


=======================================================================
-----------------------------------------------------------------------

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 implement the Treasury Securities and Agency 
Debt and Mortgage-Backed Securities Reporting Requirements (FR 2956; 
OMB No. 7100-NEW). The Board has adopted an implementation timeline 
with the first reporting under this collection beginning on September 
1, 2022.

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 for the Federal 
Reserve Board, 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 Paperwork Reduction Act (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 Implementation of 
the Following Information Collection

    Report title: Treasury Securities and Agency Debt and Mortgage-
Backed Securities Reporting Requirements.
    Agency form number: FR 2956.
    OMB control number: 100-NEW.
    Frequency: Daily.
    Respondents: Depository institutions that meet the reporting 
thresholds and daily transact in trading of marketable U.S. Treasury 
securities and the trading of the debt and mortgage-backed securities 
(MBS) issued by agencies.
    Estimated number of respondents: Treasury securities, 10; Agency 
debt and MBS, 12.
    Estimated average hours per response: 3.
    Estimated annual burden hours: 16,500.
    General description of report: The FR 2956 will collect detailed 
data on depository institutions' daily transactions of marketable U.S. 
Treasury securities and of the debt and MBS issued by U.S. federal 
government agencies including government-sponsored enterprises 
(agencies). The report will have two parts: Part 1 will collect data on 
transactions in U.S. Treasury securities, and Part 2 will collect 
transactions in debt and MBS issued by agencies. Depository 
institutions subject to reporting under the FR 2956 collection will be 
required to report all the transaction details, information, and fields 
as described in the applicable Trade Reporting and Compliance Engine 
(TRACE) technical documentation, FAQs, and guides located at https://www.finra.org/filing-reporting/trace. This information will include, 
but is not limited to, the Committee on Uniform Securities 
Identification Procedures (CUSIP) number or similar identifier, the 
transaction size (volume), price of the transaction, date of trade 
execution, time of execution, and date of

[[Page 59717]]

settlement. The Board is adopting an implementation timeline for first 
reporting under this collection of September 1, 2022.
    Reporting transactions will be event-generated and estimated to 
occur daily. Depository institutions will be required to assess 
annually whether they meet the reporting criteria. If a depository 
institution meets the event-generated threshold to report based on the 
average of its daily transactions from October 1 of the previous year 
through September 30, the depository institution will be required to 
begin to report the implemented FR 2956 effective January 1 of the 
following year and continue reporting such transactions throughout that 
calendar year.\1\ If a depository institution that reports on the 
implemented FR 2956 falls below the threshold based on the average of 
its daily transactions from October 1 of the previous year through 
September 30, the depository institution will be required to continue 
to report through December 31 of that year but will not be required to 
report for the next calendar year.
---------------------------------------------------------------------------

    \1\ For the initial reporting under FR 2956 beginning on 
September 1, 2022, depository institutions should assess their 
transactions from October 1, 2020, through September 30, 2021, to 
determine whether they will be required to report.
---------------------------------------------------------------------------

    Every national bank, state member bank, state non-member bank, 
savings association, or U.S. branch and agency of a foreign bank filing 
a Notice of Government Securities Broker or Government Dealer 
Activities Form (Form G-FIN; OMB No. 7100-0224) with average daily 
transaction volumes of over $100 million for U.S. Treasury securities, 
or over $50 million for agency-issued debt and MBS, during the prior 
fiscal year will be subject to the proposed reporting requirements. 
Depository institutions subject to the reporting requirements of the 
adopted FR 2956 will electronically report transactions through the 
Board's data collection provider, the Financial Industry Regulatory 
Authority (FINRA), utilizing its Trade Reporting and Compliance Engine 
(TRACE).
    Legal authorization and confidentiality: The FR 2956 is authorized 
by sections 2A and 11 of the Federal Reserve Act (FRA). 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 11 of the FRA authorizes the Board to require reports from 
depository institutions 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.\3\
---------------------------------------------------------------------------

    \2\ 12 U.S.C. 225a. Treasury Securities, agency debt, and MBS 
are an important channel of monetary policy transmission. The 
information to be collected by the FR 2956 is not available from 
other sources, and collecting these transaction data will help the 
Board and FOMC better monitor and interpret fluctuations in supply 
and demand as well as interest rate movements in these key credit 
aggregates.
    \3\12 U.S.C. 248(a).
---------------------------------------------------------------------------

    The obligation to respond to the FR 2956 is mandatory. The 
information collected through the FR 2956 may generally be considered 
confidential under exemption 4 of the Freedom of Information Act as 
confidential commercial or financial information that is both 
customarily and actually treated as private.\4\
---------------------------------------------------------------------------

    \4\ 5 U.S.C. 552(b)(4).
---------------------------------------------------------------------------

    Current actions: On January 21, 2021, the Board published a notice 
in the Federal Register (86 FR 6329) requesting public comment for 60 
days on the implementation of the Treasury Securities and Agency Debt 
and Mortgage-Backed Securities Reporting Requirements. The comment 
period for this notice expired on March 22, 2021.

Detailed Discussion of Public Comments

    The Board received two public comments on the proposed FR 2956. One 
commenter raised a few technical questions regarding Market Participant 
Identity (MPID) as applied to reporting depository institutions under 
this information collection. To provide greater clarity, the Board 
anticipates FINRA will assign MPIDs to depository institutions subject 
to TRACE reporting and include these MPIDs in the Participant Master, 
which is available to all TRACE reporting participants. Depository 
institutions that are required to report and have a non-FINRA-member 
subscriber MPID(s) (for contra use only) will be reassigned a reporting 
MPID, which will be communicated to the corresponding covered 
alternative trading system(s) (ATS). Depository institutions that 
operate an ATS and are required to report will receive a reporting MPID 
for the ATS distinct from that of a trading desk. Depository 
institutions that are not required to report and are ATS subscribers 
will continue to be identified in ATS trade reports using their current 
MPIDs.
    One commenter also questioned whether depository institutions would 
be eligible to enter into Uniform Service Agreements with broker-
dealers and other depository institutions. The Board notes that 
depository institutions would be required to enter into the 
Participation Agreement, as do FINRA members, to use the TRACE system. 
In addition, depository institutions may enter into, and provide to 
FINRA, a Uniform Services Agreement executed with another depository 
institution or broker-dealer.
    In addition, the Board received two comments on the scope and 
applicability of the reporting requirement. As explained in the 
``General description of report'' section of this notice, only a 
depository institution that files a Notice of Government Securities 
Broker or Government Dealer Activities Form (Form G-FIN; OMB No. 7100-
0224) with average daily transaction volumes of over $100 million for 
U.S. Treasury debt, or over $50 million for agency-issued debt and MBS, 
during the prior fiscal year will be subject to the proposed reporting 
requirements. Consistent with TRACE reporting by FINRA members and the 
intent of this collection, reporting institutions will be required to 
report all Treasury transactions that they are party to, regardless of 
whether the institution is acting in a dealer capacity or whether 
activity was with clients inside or outside the United States. The 
reporting requirements will include all departments or divisions of a 
reporting institution.
    The Board received a comment requesting clarification on the 
supervisory and enforcement authority of the collection. As explained 
in the ``Legal authorization and confidentiality'' section of this 
notice, section 11 of the Federal Reserve Act authorizes the Board to 
require reports from depository institutions. This collection is being 
adopted under that authority and nothing in the proposed information 
collection alters or modifies the supervisory and enforcement authority 
of the Federal banking agencies over the depository institutions that 
are subject to the reporting. The Board is using FINRA as its data 
collection provider and utilizing its TRACE platform.
    The Board received a comment requesting clarification about the 
dissemination of Treasury trades as a result of this proposed 
information collection. The statement about inclusion of depository 
institution data in TRACE data products available to market 
participants referred to existing real time and aggregate data products 
and not the creation of new ones.

[[Page 59718]]

    The Board also received comments on the implementation timeline 
and, in particular, how coordinating with FINRA on its own proposed 
changes would be beneficial. Commenters noted the importance of enough 
lead time prior to reporting to allow for systems to be implemented or 
updated as needed. The Board understands the balance between minimizing 
compliance burdens on depository institutions as well as the critical 
need to gain insight into this segment of the Treasury securities and 
agency-issued debt and MBS markets. As a result, the Board intends to 
provide appropriate lead time to permit depository institutions the 
necessary time to prepare before the initial reporting under this 
collection will be required. In addition, the Board anticipates that 
any modifications adopted by FINRA and incorporated in the Board's 
reporting requirement in the future will also provide ample lead time 
to prepare to comply with any proposed modifications. In response to 
these comments, the Board is adopting an implementation timeline for 
first reporting under this collection of September 1, 2022.

    Board of Governors of the Federal Reserve System, October 21, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-23432 Filed 10-27-21; 8:45 am]
BILLING CODE 6210-01-P
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