Proposed Agency Information Collection Activities; Comment Request, 3807-3809 [2022-01418]
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3807
Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices
SUMMARY OF ESTIMATED ANNUAL BURDENS (OMB NO. 3064–0095)—Continued
Type of
burden
(obligation to
respond)
IC description
Frequency of
response
Number of
responses per
respondent
Number of
respondents
Hours per
response
Annual burden
(hours)
Ongoing Burden:
Bank Protection Act Compliance
Program—Routine Revisions.
Bank Protection Act Compliance
Program—Significant Revisions.
Recordkeeping
(Mandatory).
Recordkeeping
(Mandatory).
Annually .........
2,880
1
5
14,400
Annually .........
320
1
35
11,200
Total Annual Burden Hours ......
........................
........................
........................
........................
........................
50,450
Source: FDIC.
General Description of Collection: The
collection requires insured state
nonmember banks to comply with the
Bank Protection Act and to review bank
security programs The Bank Protection
Act of 1968 (12 U.S.C. 1881–1884)
requires each Federal supervisory
agency to promulgate rules establishing
minimum standards for security devices
and procedures to discourage financial
crime and to assist in the identification
of persons who commit such crimes. To
avoid the necessity of constantly
updating a technology-based regulation,
the FDIC takes a flexible approach to
implementing this statute. It requires
each insured nonmember bank to
designate a security officer who will
administer a written security program.
The security program must: (1) Establish
procedures for opening and closing for
business and for safekeeping valuables;
(2) establish procedures that will assist
in identifying persons committing
crimes against the bank; (3) provide for
initial and periodic training of
employees in their responsibilities
under the security program; and (4)
provide for selecting, testing, operating
and maintaining security devices as
prescribed in the regulation. In addition,
the FDIC requires the security officer to
report at least annually to the bank’s
board of directors on the effectiveness of
the security program.
There is no change in the method or
substance of the collection. The 48,683
increase in burden hours is the result of
the agency re-evaluating the time it
takes for recordkeeping and reporting
associated with the rule, and including
new implementation burdens for new
entities and entities reviewing their
policies in light of mergers and other
organizational changes.
2. Title: Mutual-to-Stock Conversion
of State Savings Banks.
OMB Number: 3064–0117.
Form Numbers: None.
Affected Public: Insured state savings
associations.
Burden Estimate:
SUMMARY OF ESTIMATED ANNUAL BURDEN (OMB NO. 3064–0117)
Information collection description
Type of
burden
(obligation to
respond)
Frequency of
response
Application or Notice to engage in certain activities ...........
Reporting .......
On occasion ...
5
250
1,250
Total Annual Burden (Hours) .......................................
........................
........................
........................
........................
1,250
Number of
respondents
Hours per
response
Annual burden
(hours)
Source: FDIC.
khammond on DSKJM1Z7X2PROD with NOTICES
General Description of Collection:
State savings associations must file a
notice of intent to convert to stock form,
and provide the FDIC with copies of
documents filed with state and federal
banking and/or securities regulators in
connection with any proposed mutualto-stock conversion. There is no change
in the method or substance of the
collection.
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the information collection,
including the validity of the
methodology and assumptions used; (c)
ways to enhance the quality, utility, and
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17:19 Jan 24, 2022
Jkt 256001
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Dated at Washington, DC, on January 19,
2022.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022–01313 Filed 1–24–22; 8:45 am]
BILLING CODE 6714–01–P
PO 00000
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
AGENCY:
ACTION:
Notice, request for comment.
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to extend for
three years, without revision, the Notice
Claiming Status as an Exempt Transfer
Agent (FR 4013; OMB No. 7100–0137).
SUMMARY:
Comments must be submitted on
or before March 28, 2022.
DATES:
You may submit comments,
identified by FR 4013, by any of the
following methods:
ADDRESSES:
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25JAN1
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3808
Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices
• Agency website: https://
www.federalreserve.gov/. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include the OMB
number or FR 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 confidential
business information, identifying
information, 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 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.
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 Paperwork
Reduction Act (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
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17:19 Jan 24, 2022
Jkt 256001
whether to approve a collection of
information, the Board will consider all
comments received from the public and
other agencies.
During the comment period for this
proposal, a copy of the proposed PRA
OMB submission, including the draft
reporting form and instructions,
supporting statement, and other
documentation, will 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.
Final versions of these documents will
be made available at https://
www.reginfo.gov/public/do/PRAMain, if
approved.
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: Notice Claiming Status as
an Exempt Transfer Agent.
Agency form number: FR 4013.
OMB control number: 7100–0137.
Frequency: On occasion.
Respondents: Board-regulated transfer
agents.
Estimated number of respondents:
Exemption notice: 1; exemption
disqualification notice: 1.
PO 00000
Frm 00055
Fmt 4703
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Estimated average hours per response:
Exemption notice: 2; exemption
disqualification notice: 2.
Estimated annual burden hours:
Exemption notice: 2; exemption
disqualification notice: 2.
General description of report: Transfer
agents, which are institutions that
provide securities transfer, registration,
monitoring, and other specified services
on behalf of securities issuers,1 are
generally subject to certain Securities
and Exchange Commission (SEC)
regulations. However, a transfer agent
that is regulated by and registered with
the Board (a Board-regulated transfer
agent) may request an exemption from
those regulations if it transfers and
processes a low volume of securities (a
low-volume transfer agent). A transfer
agent is Board-regulated if it is a state
member bank or a subsidiary thereof, a
bank holding company, or a savings and
loan holding company. A Boardregulated transfer agent may request an
exemption from the SEC regulations by
filing with the Board a notice certifying
that it qualifies as a low-volume transfer
agent. In addition, a Board-regulated
low-volume transfer agent that no longer
meets the requirements of being a lowvolume transfer agent must notify the
Board of that fact.
Legal authorization and
confidentiality: The FR 4013 is
authorized pursuant to sections 2,
17(a)(3), 17A(c), and 23(a) of the
Exchange Act,2 which, among other
things, authorize the Board to
promulgate regulations and establish
recordkeeping and reporting
requirements with respect to Boardregulated transfer agents.3
The exemption notice is mandatory
for Board-registered transfer agents
seeking the exemption. The obligation
to respond for the exemption notice,
therefore, is required to obtain a benefit.
The exemption disqualification notice is
mandatory for a Board-regulated transfer
agent that no longer qualifies for the
exemption.
The information collected in the FR
4013 regarding a Board-regulated
transfer agent’s volume of transactions
is public information through the filing
and publication of the transfer agent’s
Form TA–2 with the SEC. Therefore,
individual respondent data collected by
the FR 4013 are not confidential.
1 See 15 U.S.C. 78c(a)(25) (defining ‘‘transfer
agent’’).
2 15 U.S.C. 78b, 78q(a)(3), 78q–1(c), and 78w(a).
3 Additionally, the Board also has the authority to
require reports from bank holding companies (12
U.S.C. 1844(c)), savings and loan holding
companies (12 U.S.C. 1467a(b) and (g)), and state
member banks (12 U.S.C. 248(a) and 324).
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Federal Register / Vol. 87, No. 16 / Tuesday, January 25, 2022 / Notices
Board of Governors of the Federal Reserve
System, January 19, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022–01418 Filed 1–24–22; 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, with revision the Disclosure
Requirements of Subpart H of
Regulation H (Consumer Protection in
Sales of Insurance) (FR H–7; OMB No.
7100–0298).
AGENCY:
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.
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. 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.
khammond on DSKJM1Z7X2PROD with NOTICES
SUPPLEMENTARY INFORMATION:
VerDate Sep<11>2014
17:19 Jan 24, 2022
Jkt 256001
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, With Revision, of the Following
Information Collection
Report title: Disclosure Requirements
of Subpart H of Regulation H (Consumer
Protection in Sales of Insurance).
Agency form number: FR H–7.
OMB control number: 7100–0298.
Effective Date: January 25, 2022.
Frequency: On occasion.
Respondents: State member banks or
any other person at an office of a bank
or on behalf of a bank (collectively,
Covered Persons).
Estimated number of respondents:
Insurance and extension of credit, 341;
advertisements, 341.
Estimated average hours per response:
Insurance and extension of credit, 1.5
minutes; advertisements, 25 minutes.
Estimated annual burden hours:
Insurance and extension of credit, 5,371;
advertisements, 142.
General description of report: The
insurance consumer protection rules in
Regulation H require depository
institutions to prepare and provide
certain disclosures to consumers. The
disclosure requirements are codified at
12 CFR 208.81 et seq. and require
Covered Persons to make certain
disclosures: Before the completion of
the initial purchase of an insurance
product or annuity by a consumer; at
the time a consumer applies for an
extension of credit in connection with
which an insurance product or annuity
is solicited, offered, or sold; and in
advertisements and promotional
materials for insurance products or
annuities.
Legal authorization and
confidentiality: The Disclosure
Requirements of Subpart H of
Regulation H are authorized by section
305 of the Gramm-Leach-Bliley Act of
1999, which requires that the Board
issue regulations, including disclosure
requirements, applicable to retail sales
practices, solicitations, advertising, or
offers of insurance by depository
institutions.1 The disclosures required
under Subpart H of Regulation H are
mandatory.
Because the FR H–7 disclosures are
provided by state member banks to
customers, confidentiality issues should
generally not arise. In the event the
records are obtained by the Board as
part of the examination or supervision
of a financial institution, this
information may be considered
confidential pursuant to exemption 8 of
the Freedom of Information Act, which
1 12 U.S.C. 1831x. The Board also has the
authority to require reports from state member
banks. 12 U.S.C. 248(a) and 324.
PO 00000
Frm 00056
Fmt 4703
Sfmt 4703
3809
protects information contained in
‘‘examination, operating, or condition
reports’’ obtained in the bank
supervisory process.2
Current actions: On October 5, 2021,
the Board published a notice in the
Federal Register (86 FR 54978)
requesting public comment for 60 days
on the extension, with revision, of the
Disclosure Requirements of Subpart H
of Regulation H (Consumer Protection in
Sales of Insurance). The Board revised
the FR H–7 collection to account for one
existing disclosure requirement in
Regulation H that was not previously
cleared by the Board under the PRA.
The revision of the FR H–7 information
collection accounts for this disclosure
provision. This revision does not amend
Regulation H or add any new
information collection requirements.
The comment period for this notice
expired on December 6, 2021. The
Board did not receive any comments.
The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve
System, January 19, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022–01416 Filed 1–24–22; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
Board of Governors of the
Federal Reserve System.
ACTION: Notice, request for comment.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) invites
comment on a proposal to extend for
three years, without revision, the
Recordkeeping Provisions Associated
with the Interagency Statement on
Complex Structured Finance Activities
(FR 4022; OMB No. 7100–0311).
DATES: Comments must be submitted on
or before March 28, 2022.
ADDRESSES: You may submit comments,
identified by FR 4022, 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: regs.comments@
federalreserve.gov. Include the OMB
number or FR number in the subject line
of the message.
SUMMARY:
25
U.S.C. 552(b)(8).
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]]>Agencies
[Federal Register Volume 87, Number 16 (Tuesday, January 25, 2022)]
[Notices]
[Pages 3807-3809]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01418]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Notice Claiming Status as an Exempt Transfer Agent (FR
4013; OMB No. 7100-0137).
DATES: Comments must be submitted on or before March 28, 2022.
ADDRESSES: You may submit comments, identified by FR 4013, by any of
the following methods:
[[Page 3808]]
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 or FR 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 confidential
business information, identifying information, 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 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.
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 Paperwork Reduction Act (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.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement, and other documentation, will 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. Final
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.
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: Notice Claiming Status as an Exempt Transfer Agent.
Agency form number: FR 4013.
OMB control number: 7100-0137.
Frequency: On occasion.
Respondents: Board-regulated transfer agents.
Estimated number of respondents: Exemption notice: 1; exemption
disqualification notice: 1.
Estimated average hours per response: Exemption notice: 2;
exemption disqualification notice: 2.
Estimated annual burden hours: Exemption notice: 2; exemption
disqualification notice: 2.
General description of report: Transfer agents, which are
institutions that provide securities transfer, registration,
monitoring, and other specified services on behalf of securities
issuers,\1\ are generally subject to certain Securities and Exchange
Commission (SEC) regulations. However, a transfer agent that is
regulated by and registered with the Board (a Board-regulated transfer
agent) may request an exemption from those regulations if it transfers
and processes a low volume of securities (a low-volume transfer agent).
A transfer agent is Board-regulated if it is a state member bank or a
subsidiary thereof, a bank holding company, or a savings and loan
holding company. A Board-regulated transfer agent may request an
exemption from the SEC regulations by filing with the Board a notice
certifying that it qualifies as a low-volume transfer agent. In
addition, a Board-regulated low-volume transfer agent that no longer
meets the requirements of being a low-volume transfer agent must notify
the Board of that fact.
---------------------------------------------------------------------------
\1\ See 15 U.S.C. 78c(a)(25) (defining ``transfer agent'').
---------------------------------------------------------------------------
Legal authorization and confidentiality: The FR 4013 is authorized
pursuant to sections 2, 17(a)(3), 17A(c), and 23(a) of the Exchange
Act,\2\ which, among other things, authorize the Board to promulgate
regulations and establish recordkeeping and reporting requirements with
respect to Board-regulated transfer agents.\3\
---------------------------------------------------------------------------
\2\ 15 U.S.C. 78b, 78q(a)(3), 78q-1(c), and 78w(a).
\3\ Additionally, the Board also has the authority to require
reports from bank holding companies (12 U.S.C. 1844(c)), savings and
loan holding companies (12 U.S.C. 1467a(b) and (g)), and state
member banks (12 U.S.C. 248(a) and 324).
---------------------------------------------------------------------------
The exemption notice is mandatory for Board-registered transfer
agents seeking the exemption. The obligation to respond for the
exemption notice, therefore, is required to obtain a benefit. The
exemption disqualification notice is mandatory for a Board-regulated
transfer agent that no longer qualifies for the exemption.
The information collected in the FR 4013 regarding a Board-
regulated transfer agent's volume of transactions is public information
through the filing and publication of the transfer agent's Form TA-2
with the SEC. Therefore, individual respondent data collected by the FR
4013 are not confidential.
[[Page 3809]]
Board of Governors of the Federal Reserve System, January 19,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-01418 Filed 1-24-22; 8:45 am]
BILLING CODE 6210-01-P
