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