Privacy Act of 1974; System of Records, 49836-49838 [2022-17379]
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49836
Federal Register / Vol. 87, No. 155 / Friday, August 12, 2022 / Notices
FEDERAL RESERVE SYSTEM
Privacy Act of 1974; System of
Records
Board of Governors of the
Federal Reserve System.
ACTION: Notice of a modified system of
records.
AGENCY:
Pursuant to the provisions of
the Privacy Act of 1974, notice is given
that the Board of Governors of the
Federal Reserve System (Board)
proposes to modify an existing system
of records, entitled BGFRS–37, ‘‘FRB—
Electronic Applications.’’ This system
enables bank holding companies
(BHCs), savings and loan holding
companies (SLHCs), state member
banks, and foreign banks with
operations in the United States, or other
companies, and persons to submit an
application or notice to the Federal
Reserve System for approval or nonobjection, as appropriate, to conduct
certain transactions or engage in certain
activities.
DATES: Comments must be received on
or before September 12, 2022. This
modified system of records will become
effective September 12, 2022, without
further notice, unless comments dictate
otherwise.
The Office of Management and Budget
(OMB), which has oversight
responsibility under the Privacy Act,
requires a 30-day period prior to
publication in the Federal Register in
which to review the system and to
provide any comments to the agency.
The public is then given a 30-day period
in which to comment, in accordance
with 5 U.S.C. 552aI(4) and (11).
ADDRESSES: You may submit comments,
identified by BGFRS–37, ‘‘FRB—
Electronic Applications’’ 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 SORN name
and 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 will be made
available on the Board’s website at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx as submitted,
unless modified for technical reasons or
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SUMMARY:
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to remove sensitive personally
identifiable information. Public
comments may also be viewed
electronically and in-person in Room
M–4365A, 2001 C St. NW, Washington,
DC 20551, between 9:00 a.m. and 5:00
p.m. during federal business weekdays.
FOR FURTHER INFORMATION CONTACT:
David B. Husband, Senior Counsel,
(202) 530–6270, 582aishvid.b.husband@
frb.gov; Legal Division, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue NW, Washington, DC 20551. If
you are deaf, hard of hearing, or have a
speech disability, please dial 7–1–1 to
access telecommunication relay
services.
SUPPLEMENTARY INFORMATION: The Board
is modernizing the electronic
applications system and its filing
process by permitting external filers to
file applications, notices, requests for
determinations, and other applicationsrelated inquiries submitted by filers
electronically through a paperless
application process. The Board is
moving to a cloud-based system (Fed EZ
File) for use by the Board and the
Federal Reserve Banks, acting pursuant
to authority delegated by the Board
(collectively, ‘‘FRS’’). FRS staff will use
Fed EZ File to create, review, store, and
retrieve information, including
information obtained from individuals,
financial institutions, and other
business organizations, or their
authorized representatives (collectively,
‘‘filers’’), in connection with
applications, notices, requests for
determinations, and other applicationsrelated inquiries submitted by filers to
the FRS (collectively, ‘‘filings’’). These
transactions and activities include, for
example, acquisitions by a BHC or
SLHC, bank mergers, non-bank
acquisitions or new activities, BHC or
SLHC formations, financial holding
company elections, branch
establishments, changes in bank control,
community development and public
welfare investments, and the
appointment of directors or senior
executive officers by a BHC, SLHC, or
bank. This system will also enable FRS
staff to request additional information,
view business and supervisory
information from various entities as
needed, act on the filing, and deliver
official and related correspondence. FRS
staff will also manually input paperbased filings received by the FRS into
the EZ File system for the above
purposes.
Accordingly, the Board is revising the
SORN in order to incorporate the move
to a new cloud-based system and
generally update the SORN since its last
PO 00000
Frm 00038
Fmt 4703
Sfmt 4703
revision. In particular, the Board is
making changes to the purpose,
authority, category of individuals,
category of records, and the routine uses
sections. The Board has clarified the
intended purpose of the system and
expanded the category of individuals to
also include public commenters on
filings more accurately. The Board has
provided greater specificity to the
category of records section by
identifying in greater detail some of the
information types included in typical
filings.
The Board is also amending the
system-specific routine use to permit
the sharing of the information covered
by this system of records with other
financial institution regulatory agencies
as necessary on a confidential basis
consistent with explicit information
sharing agreements, rather than for
regulatory comment purposes only,
because the Board works with those
agencies on supervisory and regulatory
matters beyond those focused on
regulatory comments. The Board is also
eliminating the reference to ‘‘thrift
regulatory agencies’’ in the phrase
‘‘other bank and thrift regulatory
agencies’’ as outdated because the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank
Act, Pub. L. 111–203, 124 Stat. 1376
(2010)) dissolved the Office of Thrift
Supervision and replacing ‘‘bank’’ with
‘‘financial institution.’’ Thus, the Board
proposes to revise the system-specific
routine use to read: ‘‘to disclose certain
information to other financial
institution regulatory agencies pursuant
to explicit information sharing
agreements.’’
In the authority section, the Board is
revising the list of authorities to include
additional statutes and regulations that
authorize the Board to receive filings
from external parties and to reflect
statutory changes since the SORN’s last
issuance in 2008. In particular, the
Dodd-Frank Act was passed in 2010 and
made substantial changes to banking
laws and regulations, which affected the
authorities for this system of records.
For example, section 311 of Dodd-Frank
transferred authority to supervise and
regulate SLHCs from the Office of Thrift
Supervision to the Board. Accordingly,
the Board is adding the Home Owners’
Loan Act, as well as the Board’s
implementing Regulations LL and MM,
which authorize the Board to receive
filings from SLHCs as authorities.
Similarly, the Board is adding to the
authorities section 167 of the DoddFrank Act and the Board’s
implementing Regulation YY, which
required certain foreign banking
organizations to create a U.S.
E:\FR\FM\12AUN1.SGM
12AUN1
jspears on DSK121TN23PROD with NOTICES
Federal Register / Vol. 87, No. 155 / Friday, August 12, 2022 / Notices
intermediate holding company for
which foreign banking organizations
may request relief pursuant to section
252.153(c) of Regulation YY. Lastly, the
Board is also adding section 163(b) of
the Dodd-Frank Act, which required
certain large BHCs and nonbank
financial companies supervised by the
Board to provide written notice before
making certain acquisitions of large
nonbanking entities.
The Board is also revising the list of
legal authorities to include those which
were inadvertently omitted from or
incorrectly cited in the previous SORN.
This includes adding corrected
references to the U.S. Code provisions
corresponding to sections 9, 19, and 25
of the Federal Reserve Act, concerning
state banks as members of the Federal
Reserve System; bank reserves; and
foreign branches of domestic banks,
respectively. In addition, the Board is
revising the legal authority section to
include other statutory provisions under
which the Board receives filings,
including sections 23A and 23B of the
Federal Reserve Act and the Board’s
implementing Regulation W, concerning
depository institutions’ relations and
transactions with affiliates, and section
24A, concerning investments in bank
premises. Further, the Board is revising
the legal authorities to include sections
8, 18(c), 19, 32, and 44 of the Federal
Deposit Insurance Act, concerning
termination of insured depository
institution status; bank merger
transactions; participation in banking by
individuals convicted of, or who have
entered into a pretrial diversion or
similar program for, certain crimes;
changes in directors and senior
executive officers of insured depository
institution holding companies; and
interstate bank mergers, respectively.
The Board has also added references to
other relevant authorizing banking
statutes, such as the Foreign Bank
Supervision Enhancement Act and the
Depository Institution Management
Interlocks Act.
The Board is also updating the contact
information for the system manager, the
record source categories, the system
location information, and the policies
and practices for storage, retrieval, and
retention of records.
The Board is also making technical
changes to BGFRS–37 consistent with
the template laid out in OMB Circular
No. A–108. Accordingly, the Board has
made technical corrections and nonsubstantive language revisions to the
following sections: ‘‘Policies and
Practices for Storage of Records,’’
‘‘Policies and Practices for Retrieval of
Records,’’ ‘‘Policies and Practices for
Retention and Disposal of Records,’’
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‘‘Administrative, Technical and
Physical Safeguards,’’ ‘‘Record Access
Procedures,’’ ‘‘Contesting Record
Procedures,’’ and ‘‘Notification
Procedures.’’ The Board has also created
the following new sections: ‘‘Security
Classification’’ and ‘‘History.’’
SYSTEM NAME AND NUMBER:
BGFRS–37, ‘‘FRB—Electronic
Applications.’’
Unclassified.
SYSTEM LOCATION:
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW Washington,
DC 20551. Some data will be hosted by
third-party vendors, in government
clouds managed by BOX in Nevada and
California, Appian in Ohio, and
OneSpan in Virginia and Ohio.
SYSTEM MANAGER(S):
Vaishali Sack, Designated Agency
Applications Official, Supervision and
Regulation Division, Board of Governors
of the Federal Reserve System, 20th
Street and Constitution Avenue NW,
Washington, DC 20551, 202–452–5221,
586586aishaliali.d.sack@frb.gov.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
Sections 9, 19, 23A, 23B, 24A, 25, and
25A of the Federal Reserve Act (12
U.S.C. 321–338a, 461–506, 371c, 371c–
1, 371(d), 601–605, and 611–631); the
Change in Bank Control Act (12 U.S.C.
1817(j)); Sections 8, 18(c), 19, 32, and 44
of the Federal Deposit Insurance Act (12
U.S.C. 1818, 1828(c), 1829, 1831i, and
1831(u)); the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.);
Section 5 of the Bank Service Company
Act (12 U.S.C. 1865); the International
Banking Act of 1978, as amended (12
U.S.C. 3101 et seq.) and the Foreign
Bank Supervision Enhancement Act (12
U.S.C. 3101 note); the Depository
Institution Management Interlocks Act
(12 U.S.C. 3201 et seq.); the Home
Owners’ Loan Act (12 U.S.C. 1465–
1468); Sections 163(b) and 167 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C.
5363(b) and 5367); the Board’s
Regulation H (12 CFR part 208);
Regulation K (12 CFR part 211);
Regulation L (12 CFR part 212);
Regulation W (12 CFR part 223);
Regulation Y (12 CFR part 225);
Regulation LL (12 CFR part 238);
Regulation MM (12 CFR part 239);
Regulation YY (12 CFR part 252); and
Executive Order 9397.
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Fmt 4703
Sfmt 4703
PURPOSE(S) OF THE SYSTEM:
These records are collected and
maintained to assist the Board and the
Federal Reserve Banks (collectively,
‘‘FRS’’) in evaluating whether
individuals, financial institutions, and
other business organizations meet the
applicable statutory and regulatory
factors that are required to be
considered in a particular filing.
CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:
SECURITY CLASSIFICATION:
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49837
Persons who are parties to regulatory
filings submitted to the FRS, and public
commenters to such submissions.
CATEGORIES OF RECORDS IN THE SYSTEM:
In connection with their role in
filings, individuals provide information,
which may include, but is not limited
to the following: name (including
former names and/or nicknames);
contact information such as telephone
number, email address, etc.; address
(home, business, and/or mailing);
citizenship information, including place
and date of birth; and/or citizenship
status; government-issued
identification, such as driver’s license
number, Social Security number,
passport number and/or alien
registration number, and/or taxpayer
identification number; occupation and
employment history; financial and
credit information (including credit
history); education and professional
credentials; information about
compliance with applicable laws and
regulations, criminal history, and
involvement with court proceedings;
and related organizations. In addition,
submissions from members of the public
may contain unsolicited personally
identifiable information (‘‘PII’’) (such as
bank account information or social
security numbers) even though such PII
is not required for the individual to
provide comments or feedback.
RECORD SOURCE CATEGORIES:
The information is submitted by
individual filers, certain employees,
officers, directors, or shareholders of
financial institutions or other business
organizations, representatives of
individual or institutional filers, Federal
and state banking regulators, state
insurance regulators, and members of
the public. FRS staff may also provide
information to obtain access to the
system. FRS staff may also
independently obtain information
regarding filers from publicly available
sources.
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12AUN1
49838
Federal Register / Vol. 87, No. 155 / Friday, August 12, 2022 / Notices
ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM, INCLUDING CATEGORIES OF USERS AND
PURPOSES OF SUCH USES:
General routine uses A, B, C, D, G, I,
and J apply to this system. These
general routine uses are located at
https://www.federalreserve.gov/files/
SORN-page-general-routine-uses-ofboard-systems-of-records.pdf and are
published in the Federal Register at 83
FR 43872 at 43873–74 (August 28,
2018). These records may also be used
to disclose certain information to other
financial institution regulatory agencies
pursuant to explicit information sharing
agreements.
POLICIES AND PRACTICES FOR STORAGE OF
RECORDS:
Paper records are stored in locked file
cabinets with access limited to staff
with a need to know until the paper
records have been scanned and stored
electronically. Electronic records will be
stored at the Board and by third-party
vendors in FedRAMP approved
government cloud storage solutions.
POLICIES AND PRACTICES FOR RETRIEVAL OF
RECORDS:
Records can be searched for and
retrieved by authorized staff only, by
every data field on a record, and by the
contents of each record. Access to
records is limited to those persons
whose official duties require it.
POLICIES AND PRACTICES FOR RETENTION AND
DISPOSAL OF RECORDS:
Records are retained for 60 days
within the system and then transferred
to the Board’s electronic recordkeeping
system. Records are retained in the
Board’s electronic recordkeeping system
for 15 years, then destroyed when no
longer needed for reference.
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ADMINISTRATIVE, TECHNICAL, AND PHYSICAL
SAFEGUARDS:
The system has the ability to track
individual user actions within the
system. The audit and accountability
controls are based on NIST and Board
standards, which are based on
applicable laws and regulations. The
controls assist in detecting security
violations and performance or other
issues in the system. Access to the
system is restricted to authorized users
within the FRS who require access for
official business purposes. Users are
classified into different roles and
common access and usage rights are
established for each role. User roles are
used to delineate between the different
types of access requirements such that
users are restricted to information that
is required in the performance of their
duties. Periodic assessments and
reviews are conducted to determine
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Jkt 256001
whether users still require access, have
the appropriate role, and whether there
have been any unauthorized changes.
Records are encrypted at rest and in
transmission.
RECORD ACCESS PROCEDURES:
The Privacy Act allows individuals
the right to access records maintained
about them in a Board system of
records. Your request for access must:
(1) contain a statement that the request
is made pursuant to the Privacy Act of
1974; (2) provide either the name of the
Board system of records expected to
contain the record requested or a
concise description of the system of
records; (3) provide the information
necessary to verify your identity; and (4)
provide any other information that may
assist in the rapid identification of the
record you seek.
The Board handles all Privacy Act
requests as both a Privacy Act request
and as a Freedom of Information Act
request. The Board does not charge fees
to a requestor seeking to access or
amend his/her Privacy Act records.
You may submit your Privacy Act
request to the: Secretary of the Board,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
You may also submit your Privacy Act
request electronically by filling out the
required information at: https://
foia.federalreserve.gov/.
CONTESTING RECORD PROCEDURES:
The Privacy Act allows individuals to
seek amendment of information that is
erroneous, irrelevant, untimely, or
incomplete and is maintained in a
system of records that pertains to them.
To request an amendment to your
record, you should clearly mark the
request as a ‘‘Privacy Act Amendment
Request.’’ You have the burden of proof
for demonstrating the appropriateness of
the requested amendment and you must
provide relevant and convincing
evidence in support of your request.
Your request for amendment must: (1)
provide the name of the specific Board
system of records containing the record
you seek to amend; (2) identify the
specific portion of the record you seek
to amend; (3) describe the nature of and
reasons for each requested amendment;
(4) explain why you believe the record
is not accurate, relevant, timely, or
complete; and (5) unless you have
already done so in a related Privacy Act
request for access or amendment,
provide the necessary information to
verify your identity.
PO 00000
Frm 00040
Fmt 4703
Sfmt 4703
NOTIFICATION PROCEDURES:
Same as ‘‘Access procedures’’ above.
You may also follow this procedure in
order to request an accounting of
previous disclosures of records
pertaining to you as provided for by 5
U.S.C. 5I(c).
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
Certain portions of this system of
records may be exempt from 5 U.S.C.
552a(c)(3),I),I)(1), (e)(4)(G), (H), and (I),
and (f) of the Privacy Act pursuant to 5
U.S.C. 552a(k)(2).
HISTORY:
This SORN was previously published
in the Federal Register at 73 FR 54595
(September 22, 2008). The SORN was
also amended to incorporate two new
routine uses required by OMB at 83 FR
43872 (August 28, 2018).
Board of Governors of the Federal Reserve
System.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2022–17379 Filed 8–11–22; 8:45 am]
BILLING CODE 6210–01–P
GENERAL SERVICES
ADMINISTRATION
[Notice–MA–2022–03; Docket No. 2022–
0002; Sequence 3]
Temporary Waiver of Certain
Provisions of Federal Management
Regulation (FMR) Part 102–192
Regarding Mail Management Reporting
Requirements
Office of Government-wide
Policy, General Services Administration
(GSA).
ACTION: Publication of GSA Bulletin
FMR G–08.
AGENCY:
GSA has issued FMR Bulletin
G–08, which temporarily waives the
annual mail management reporting
requirements of large Federal agencies
as mandated by FMR §§ 102–192.85–
102–192.105. This FMR Bulletin G–08 is
available at https://www.gsa.gov/policyregulations/regulations/federalmanagement-regulation/federalmanagement-regulation-fmr-relatedfiles#MailManagement.
SUMMARY:
Applicability Date: This notice is
effective upon signature and
retroactively applies to relevant
reporting for fiscal years 2017 and
continues until further notice.
August 12, 2022.
FOR FURTHER INFORMATION CONTACT: For
clarification of content, contact Michael
DeMale, Office of Asset and
Transportation, GSA, at email
DATES:
E:\FR\FM\12AUN1.SGM
12AUN1
Agencies
[Federal Register Volume 87, Number 155 (Friday, August 12, 2022)]
[Notices]
[Pages 49836-49838]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17379]
[[Page 49836]]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Privacy Act of 1974; System of Records
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice of a modified system of records.
-----------------------------------------------------------------------
SUMMARY: Pursuant to the provisions of the Privacy Act of 1974, notice
is given that the Board of Governors of the Federal Reserve System
(Board) proposes to modify an existing system of records, entitled
BGFRS-37, ``FRB--Electronic Applications.'' This system enables bank
holding companies (BHCs), savings and loan holding companies (SLHCs),
state member banks, and foreign banks with operations in the United
States, or other companies, and persons to submit an application or
notice to the Federal Reserve System for approval or non-objection, as
appropriate, to conduct certain transactions or engage in certain
activities.
DATES: Comments must be received on or before September 12, 2022. This
modified system of records will become effective September 12, 2022,
without further notice, unless comments dictate otherwise.
The Office of Management and Budget (OMB), which has oversight
responsibility under the Privacy Act, requires a 30-day period prior to
publication in the Federal Register in which to review the system and
to provide any comments to the agency. The public is then given a 30-
day period in which to comment, in accordance with 5 U.S.C. 552aI(4)
and (11).
ADDRESSES: You may submit comments, identified by BGFRS-37, ``FRB--
Electronic Applications'' by any of the following methods:
Agency website: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Email: [email protected]. Include SORN name
and 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 will be made available on the Board's website
at https://www.federalreserve.gov/apps/foia/proposedregs.aspx as
submitted, unless modified for technical reasons or to remove sensitive
personally identifiable information. Public comments may also be viewed
electronically and in-person in Room M-4365A, 2001 C St. NW,
Washington, DC 20551, between 9:00 a.m. and 5:00 p.m. during federal
business weekdays.
FOR FURTHER INFORMATION CONTACT: David B. Husband, Senior Counsel,
(202) 530-6270, [email protected]; Legal Division, Board of
Governors of the Federal Reserve System, 20th Street and Constitution
Avenue NW, Washington, DC 20551. If you are deaf, hard of hearing, or
have a speech disability, please dial 7-1-1 to access telecommunication
relay services.
SUPPLEMENTARY INFORMATION: The Board is modernizing the electronic
applications system and its filing process by permitting external
filers to file applications, notices, requests for determinations, and
other applications-related inquiries submitted by filers electronically
through a paperless application process. The Board is moving to a
cloud-based system (Fed EZ File) for use by the Board and the Federal
Reserve Banks, acting pursuant to authority delegated by the Board
(collectively, ``FRS''). FRS staff will use Fed EZ File to create,
review, store, and retrieve information, including information obtained
from individuals, financial institutions, and other business
organizations, or their authorized representatives (collectively,
``filers''), in connection with applications, notices, requests for
determinations, and other applications-related inquiries submitted by
filers to the FRS (collectively, ``filings''). These transactions and
activities include, for example, acquisitions by a BHC or SLHC, bank
mergers, non-bank acquisitions or new activities, BHC or SLHC
formations, financial holding company elections, branch establishments,
changes in bank control, community development and public welfare
investments, and the appointment of directors or senior executive
officers by a BHC, SLHC, or bank. This system will also enable FRS
staff to request additional information, view business and supervisory
information from various entities as needed, act on the filing, and
deliver official and related correspondence. FRS staff will also
manually input paper-based filings received by the FRS into the EZ File
system for the above purposes.
Accordingly, the Board is revising the SORN in order to incorporate
the move to a new cloud-based system and generally update the SORN
since its last revision. In particular, the Board is making changes to
the purpose, authority, category of individuals, category of records,
and the routine uses sections. The Board has clarified the intended
purpose of the system and expanded the category of individuals to also
include public commenters on filings more accurately. The Board has
provided greater specificity to the category of records section by
identifying in greater detail some of the information types included in
typical filings.
The Board is also amending the system-specific routine use to
permit the sharing of the information covered by this system of records
with other financial institution regulatory agencies as necessary on a
confidential basis consistent with explicit information sharing
agreements, rather than for regulatory comment purposes only, because
the Board works with those agencies on supervisory and regulatory
matters beyond those focused on regulatory comments. The Board is also
eliminating the reference to ``thrift regulatory agencies'' in the
phrase ``other bank and thrift regulatory agencies'' as outdated
because the Dodd-Frank Wall Street Reform and Consumer Protection Act
(Dodd-Frank Act, Pub. L. 111-203, 124 Stat. 1376 (2010)) dissolved the
Office of Thrift Supervision and replacing ``bank'' with ``financial
institution.'' Thus, the Board proposes to revise the system-specific
routine use to read: ``to disclose certain information to other
financial institution regulatory agencies pursuant to explicit
information sharing agreements.''
In the authority section, the Board is revising the list of
authorities to include additional statutes and regulations that
authorize the Board to receive filings from external parties and to
reflect statutory changes since the SORN's last issuance in 2008. In
particular, the Dodd-Frank Act was passed in 2010 and made substantial
changes to banking laws and regulations, which affected the authorities
for this system of records. For example, section 311 of Dodd-Frank
transferred authority to supervise and regulate SLHCs from the Office
of Thrift Supervision to the Board. Accordingly, the Board is adding
the Home Owners' Loan Act, as well as the Board's implementing
Regulations LL and MM, which authorize the Board to receive filings
from SLHCs as authorities. Similarly, the Board is adding to the
authorities section 167 of the Dodd-Frank Act and the Board's
implementing Regulation YY, which required certain foreign banking
organizations to create a U.S.
[[Page 49837]]
intermediate holding company for which foreign banking organizations
may request relief pursuant to section 252.153(c) of Regulation YY.
Lastly, the Board is also adding section 163(b) of the Dodd-Frank Act,
which required certain large BHCs and nonbank financial companies
supervised by the Board to provide written notice before making certain
acquisitions of large nonbanking entities.
The Board is also revising the list of legal authorities to include
those which were inadvertently omitted from or incorrectly cited in the
previous SORN. This includes adding corrected references to the U.S.
Code provisions corresponding to sections 9, 19, and 25 of the Federal
Reserve Act, concerning state banks as members of the Federal Reserve
System; bank reserves; and foreign branches of domestic banks,
respectively. In addition, the Board is revising the legal authority
section to include other statutory provisions under which the Board
receives filings, including sections 23A and 23B of the Federal Reserve
Act and the Board's implementing Regulation W, concerning depository
institutions' relations and transactions with affiliates, and section
24A, concerning investments in bank premises. Further, the Board is
revising the legal authorities to include sections 8, 18(c), 19, 32,
and 44 of the Federal Deposit Insurance Act, concerning termination of
insured depository institution status; bank merger transactions;
participation in banking by individuals convicted of, or who have
entered into a pretrial diversion or similar program for, certain
crimes; changes in directors and senior executive officers of insured
depository institution holding companies; and interstate bank mergers,
respectively. The Board has also added references to other relevant
authorizing banking statutes, such as the Foreign Bank Supervision
Enhancement Act and the Depository Institution Management Interlocks
Act.
The Board is also updating the contact information for the system
manager, the record source categories, the system location information,
and the policies and practices for storage, retrieval, and retention of
records.
The Board is also making technical changes to BGFRS-37 consistent
with the template laid out in OMB Circular No. A-108. Accordingly, the
Board has made technical corrections and non-substantive language
revisions to the following sections: ``Policies and Practices for
Storage of Records,'' ``Policies and Practices for Retrieval of
Records,'' ``Policies and Practices for Retention and Disposal of
Records,'' ``Administrative, Technical and Physical Safeguards,''
``Record Access Procedures,'' ``Contesting Record Procedures,'' and
``Notification Procedures.'' The Board has also created the following
new sections: ``Security Classification'' and ``History.''
SYSTEM NAME AND NUMBER:
BGFRS-37, ``FRB--Electronic Applications.''
SECURITY CLASSIFICATION:
Unclassified.
SYSTEM LOCATION:
Board of Governors of the Federal Reserve System, 20th Street and
Constitution Avenue NW Washington, DC 20551. Some data will be hosted
by third-party vendors, in government clouds managed by BOX in Nevada
and California, Appian in Ohio, and OneSpan in Virginia and Ohio.
SYSTEM MANAGER(S):
Vaishali Sack, Designated Agency Applications Official, Supervision
and Regulation Division, Board of Governors of the Federal Reserve
System, 20th Street and Constitution Avenue NW, Washington, DC 20551,
202-452-5221, [email protected].
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
Sections 9, 19, 23A, 23B, 24A, 25, and 25A of the Federal Reserve
Act (12 U.S.C. 321-338a, 461-506, 371c, 371c-1, 371(d), 601-605, and
611-631); the Change in Bank Control Act (12 U.S.C. 1817(j)); Sections
8, 18(c), 19, 32, and 44 of the Federal Deposit Insurance Act (12
U.S.C. 1818, 1828(c), 1829, 1831i, and 1831(u)); the Bank Holding
Company Act of 1956 (12 U.S.C. 1841 et seq.); Section 5 of the Bank
Service Company Act (12 U.S.C. 1865); the International Banking Act of
1978, as amended (12 U.S.C. 3101 et seq.) and the Foreign Bank
Supervision Enhancement Act (12 U.S.C. 3101 note); the Depository
Institution Management Interlocks Act (12 U.S.C. 3201 et seq.); the
Home Owners' Loan Act (12 U.S.C. 1465-1468); Sections 163(b) and 167 of
the Dodd-Frank Wall Street Reform and Consumer Protection Act (12
U.S.C. 5363(b) and 5367); the Board's Regulation H (12 CFR part 208);
Regulation K (12 CFR part 211); Regulation L (12 CFR part 212);
Regulation W (12 CFR part 223); Regulation Y (12 CFR part 225);
Regulation LL (12 CFR part 238); Regulation MM (12 CFR part 239);
Regulation YY (12 CFR part 252); and Executive Order 9397.
PURPOSE(S) OF THE SYSTEM:
These records are collected and maintained to assist the Board and
the Federal Reserve Banks (collectively, ``FRS'') in evaluating whether
individuals, financial institutions, and other business organizations
meet the applicable statutory and regulatory factors that are required
to be considered in a particular filing.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
Persons who are parties to regulatory filings submitted to the FRS,
and public commenters to such submissions.
CATEGORIES OF RECORDS IN THE SYSTEM:
In connection with their role in filings, individuals provide
information, which may include, but is not limited to the following:
name (including former names and/or nicknames); contact information
such as telephone number, email address, etc.; address (home, business,
and/or mailing); citizenship information, including place and date of
birth; and/or citizenship status; government-issued identification,
such as driver's license number, Social Security number, passport
number and/or alien registration number, and/or taxpayer identification
number; occupation and employment history; financial and credit
information (including credit history); education and professional
credentials; information about compliance with applicable laws and
regulations, criminal history, and involvement with court proceedings;
and related organizations. In addition, submissions from members of the
public may contain unsolicited personally identifiable information
(``PII'') (such as bank account information or social security numbers)
even though such PII is not required for the individual to provide
comments or feedback.
RECORD SOURCE CATEGORIES:
The information is submitted by individual filers, certain
employees, officers, directors, or shareholders of financial
institutions or other business organizations, representatives of
individual or institutional filers, Federal and state banking
regulators, state insurance regulators, and members of the public. FRS
staff may also provide information to obtain access to the system. FRS
staff may also independently obtain information regarding filers from
publicly available sources.
[[Page 49838]]
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES
OF USERS AND PURPOSES OF SUCH USES:
General routine uses A, B, C, D, G, I, and J apply to this system.
These general routine uses are located at https://www.federalreserve.gov/files/SORN-page-general-routine-uses-of-board-systems-of-records.pdf and are published in the Federal Register at 83
FR 43872 at 43873-74 (August 28, 2018). These records may also be used
to disclose certain information to other financial institution
regulatory agencies pursuant to explicit information sharing
agreements.
POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
Paper records are stored in locked file cabinets with access
limited to staff with a need to know until the paper records have been
scanned and stored electronically. Electronic records will be stored at
the Board and by third-party vendors in FedRAMP approved government
cloud storage solutions.
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
Records can be searched for and retrieved by authorized staff only,
by every data field on a record, and by the contents of each record.
Access to records is limited to those persons whose official duties
require it.
POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
Records are retained for 60 days within the system and then
transferred to the Board's electronic recordkeeping system. Records are
retained in the Board's electronic recordkeeping system for 15 years,
then destroyed when no longer needed for reference.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
The system has the ability to track individual user actions within
the system. The audit and accountability controls are based on NIST and
Board standards, which are based on applicable laws and regulations.
The controls assist in detecting security violations and performance or
other issues in the system. Access to the system is restricted to
authorized users within the FRS who require access for official
business purposes. Users are classified into different roles and common
access and usage rights are established for each role. User roles are
used to delineate between the different types of access requirements
such that users are restricted to information that is required in the
performance of their duties. Periodic assessments and reviews are
conducted to determine whether users still require access, have the
appropriate role, and whether there have been any unauthorized changes.
Records are encrypted at rest and in transmission.
RECORD ACCESS PROCEDURES:
The Privacy Act allows individuals the right to access records
maintained about them in a Board system of records. Your request for
access must: (1) contain a statement that the request is made pursuant
to the Privacy Act of 1974; (2) provide either the name of the Board
system of records expected to contain the record requested or a concise
description of the system of records; (3) provide the information
necessary to verify your identity; and (4) provide any other
information that may assist in the rapid identification of the record
you seek.
The Board handles all Privacy Act requests as both a Privacy Act
request and as a Freedom of Information Act request. The Board does not
charge fees to a requestor seeking to access or amend his/her Privacy
Act records.
You may submit your Privacy Act request to the: Secretary of the
Board, Board of Governors of the Federal Reserve System, 20th Street
and Constitution Avenue NW, Washington, DC 20551.
You may also submit your Privacy Act request electronically by
filling out the required information at: https://foia.federalreserve.gov/.
CONTESTING RECORD PROCEDURES:
The Privacy Act allows individuals to seek amendment of information
that is erroneous, irrelevant, untimely, or incomplete and is
maintained in a system of records that pertains to them. To request an
amendment to your record, you should clearly mark the request as a
``Privacy Act Amendment Request.'' You have the burden of proof for
demonstrating the appropriateness of the requested amendment and you
must provide relevant and convincing evidence in support of your
request.
Your request for amendment must: (1) provide the name of the
specific Board system of records containing the record you seek to
amend; (2) identify the specific portion of the record you seek to
amend; (3) describe the nature of and reasons for each requested
amendment; (4) explain why you believe the record is not accurate,
relevant, timely, or complete; and (5) unless you have already done so
in a related Privacy Act request for access or amendment, provide the
necessary information to verify your identity.
NOTIFICATION PROCEDURES:
Same as ``Access procedures'' above. You may also follow this
procedure in order to request an accounting of previous disclosures of
records pertaining to you as provided for by 5 U.S.C. 5I(c).
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
Certain portions of this system of records may be exempt from 5
U.S.C. 552a(c)(3),I),I)(1), (e)(4)(G), (H), and (I), and (f) of the
Privacy Act pursuant to 5 U.S.C. 552a(k)(2).
HISTORY:
This SORN was previously published in the Federal Register at 73 FR
54595 (September 22, 2008). The SORN was also amended to incorporate
two new routine uses required by OMB at 83 FR 43872 (August 28, 2018).
Board of Governors of the Federal Reserve System.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2022-17379 Filed 8-11-22; 8:45 am]
BILLING CODE 6210-01-P