Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 71639-71640 [2022-25493]

Download as PDF Federal Register / Vol. 87, No. 225 / Wednesday, November 23, 2022 / Notices Disclosure—1.25. Section 244.18 Recordkeeping—40.5. Disclosure—1.25. Estimated annual burden hours: 340. General description of collection: In 2014, the Board, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), U.S. Securities and Exchange Commission (SEC), Federal Housing Finance Agency (FHFA), and Department of Housing and Urban Development (HUD) adopted a joint final rule (credit risk retention rule) that implemented the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (Exchange Act),1 which was added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.2 The Board’s credit risk retention rule, which applies to any securitizer of asset-backed securities (securitizer) that is a state member bank (SMB) or a subsidiary of an SMB, is codified in the Board’s Regulation RR—Credit Risk Retention (12 CFR part 244). Regulation RR includes a number of mandatory recordkeeping and disclosure requirements.3 Legal authorization and confidentiality: The FR RR is authorized pursuant to section 15G of the Exchange Act, which requires the Board, jointly with the OCC, FDIC, and SEC, to prescribe risk retention regulations for securitizers (15 U.S.C. 78o–11). The FR RR is mandatory. Records kept and information disclosed pursuant to the requirements of the FR RR are not submitted to the Board, so the issue of confidentiality will not normally arise. If the Board’s examiners obtain a copy of the records as part of an examination, the records may be exempt from disclosure under exemption 8 of the Freedom of Information Act, which exempts from disclosure matters that are ‘‘contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions’’ (5 U.S.C. 552(b)(8)). lotter on DSK11XQN23PROD with NOTICES1 1 15 U.S.C. 78o–11. 2 Public Law 111–203, 124 Stat. 1376 (2010). 3 The FR RR currently takes burden for the SEC’s credit risk retention rule insofar as it applies to securitizers that are, or are a subsidiary of, a bank holding company, savings and loan holding company, intermediate holding company, Edge or agreement corporation, foreign banking organization, or nonbank financial company supervised by the Board. The proposed extension of the FR RR would not include burden for the SEC’s rule, because it is not a collection of information conducted or sponsored by the Board. VerDate Sep<11>2014 16:45 Nov 22, 2022 Jkt 259001 Consultation outside the agency: The credit risk retention rule was adopted on an interagency basis. The Board consulted with the OCC, FDIC, and SEC with respect to the extension, without revision, of this information collection. Board of Governors of the Federal Reserve System, November 17, 2022. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2022–25496 Filed 11–22–22; 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. AGENCY: The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Transfer Agent Registration and Amendment Form and Transfer Agent Deregistration Form (Form TA–1 and Form TA–W); OMB No. 7100–0099). SUMMARY: 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, nuha.elmaghrabi@frb.gov, (202) 452–3884. 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 SUPPLEMENTARY INFORMATION: PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 71639 requested from the agency clearance officer, whose name appears above. Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection Collection title: Transfer Agent Registration and Amendment Form and Transfer Agent Deregistration Form. Collection identifier: Form TA–1 and Form TA–W. OMB control number: 7100–0099. Effective Date: December 23, 2022. Frequency: As needed. Respondents: The respondent panel for this collection of information consists of current and former transfer agents that are a state member bank (SMB) or a subsidiary thereof, a bank holding company (BHC), a savings and loan holding company (SLHC), or a subsidiary of a BHC that is a bank within the meaning of the Securities Exchange Act of 1934 (Exchange Act) and that is not required to register with the Office of the Comptroller of the Currency (OCC) or the Federal Deposit Insurance Corporation (FDIC). Estimated number of respondents: Registrations, 1; Amendments, 1; Deregistrations, 1. Estimated average hours per response: Registrations, 1.25; Amendments, 0.16; Deregistrations, 0.5. Estimated annual burden hours: Registrations, 1; Amendments, 0.16; Deregistrations, 1. General description of collection: The Exchange Act requires any person acting as a transfer agent 1 to register as such with the appropriate regulatory agency (ARA). The Board is the ARA for transfer agents listed in the respondents section above. Transfer agents for which the Board is the ARA must register with the Board using Form TA–1. Additionally, registered transfer agents for which the Board is their ARA may deregister by submitting Form TA–W. Legal authorization and confidentiality: This information collection is authorized under section 17A(c) of the Exchange Act.2 The collection is also authorized under sections 2, 17(a)(3), and 23(a) of the Exchange Act 3 and under the Board’s 1 Transfer agents are persons that provide securities transfer, registration, monitoring, and other specified services on behalf of securities issuers. See 15 U.S.C. 78c(25) (defining ‘‘transfer agent’’). 2 15 U.S.C. 78q–1(c) (requiring all transfer agents for securities registered under section 12 of the Exchange Act to register with the ARA by filing ‘‘an application for registration in such form and containing such information’’ as the ARA may prescribe). 3 12 U.S.C. 78b, 78q(a)(3) and 78w(a) (authorizing the Board to promulgate regulations and establish E:\FR\FM\23NON1.SGM Continued 23NON1 71640 Federal Register / Vol. 87, No. 225 / Wednesday, November 23, 2022 / Notices general authority to require reports from SMBs,4 BHCs,5 and SLHCs.6 The collection is mandatory for transfer agents for which the Board is the ARA. Information collected on the forms is available to the public upon request and is not considered confidential. Current actions: On July 6, 2022, the Board published a notice in the Federal Register (87 FR 40236) requesting public comment for 60 days on the extension, with revision, of the Form TA–1 and Form TA–W. The Board proposed to utilize its own Form TA–W for respondents to deregister rather than asking respondents to use an SEC form or submit a separate letter, as has been done in the past. This would allow the Board to have its OMB control number on the form and make any changes in the future if necessary. The draft Form TA–W asks the same type of information that is on the SEC deregistration form. The comment period for this notice expired on September 6, 2022. The Board did not receive any comments. The revisions will be implemented as proposed. 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, without revision, the Systemic Risk Report (FR Y–15; OMB No. 7100– 0352). 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, nuha.elmaghrabi@frb.gov, (202) 452–3884. 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 Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Collection title: Systemic Risk Report. Collection identifier: FR Y–15. OMB control number: 7100–0352. Frequency: Quarterly. Respondents: The FR Y–15 panel is comprised of top-tier U.S. bank holding companies (BHCs) and covered savings and loan holding companies (SLHCs) with $100 billion or more in total consolidated assets,1 foreign banking organizations (FBOs) with $100 billion or more in total combined U.S. assets, and any U.S. BHC designated as a global systemically important bank (GSIB) based on its method 1 score calculated under 12 CFR 217.404 as of December 31 of the previous calendar year.2 Estimated number of respondents: 52. Estimated average hours per response: Reporting, 404; Recordkeeping, 1. Estimated annual burden hours: Reporting, 84,032; Recordkeeping, 208. General description of collection: The FR Y–15 quarterly report collects systemic risk data from the respondents listed above. The Board uses the FR Y– 15 data to monitor, on an ongoing basis, the systemic risk profile of certain financial institutions that are subject to enhanced prudential standards under section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).3 In addition, the recordkeeping and reporting requirements with respect to Board-registered Transfer Agents). 4 12 U.S.C. 248(a) and 324. 5 12 U.S.C. 1844(c). 6 12 U.S.C. 1467a(b) and (g). 1 Covered SLHCs are those that are not substantially engaged in insurance or commercial activities. See 12 CFR 217.2. 2 See 12 CFR 217.402. 3 Public Law 111–203 (2010); 12 U.S.C. 5365. Board of Governors of the Federal Reserve System, November 17, 2022. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2022–25493 Filed 11–22–22; 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 AGENCY: lotter on DSK11XQN23PROD with NOTICES1 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. 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. VerDate Sep<11>2014 16:45 Nov 22, 2022 Jkt 259001 PO 00000 Frm 00072 Fmt 4703 Sfmt 4703 FR Y–15 is used to (i) facilitate the implementation of the surcharge for GSIBs, (ii) identify other financial institutions which may present significant systemic risk, and (iii) analyze the systemic risk implications of proposed mergers and acquisitions. Legal authorization and confidentiality: Sections 163 and 165 of the Dodd-Frank Act, as amended by the Economic Growth, Regulatory Relief, and Consumer Protection Act, authorize the Board to consider risk to U.S. financial stability in regulating and examining BHCs with $100 billion or more in consolidated assets and nonbank financial companies that are under the Board’s supervision.4 The Board is further authorized to impose prudential standards for such entities and to differentiate among companies on an individual basis or by category, taking into consideration their capital structure, complexity, financial activities, size, and any other riskrelated factors that the Board deems appropriate.5 This authorization also covers certain foreign banks with U.S. operations under the International Banking Act (IBA).6 Sections 165(b)(1)(B) and 165(f) of the DoddFrank Act authorize the Board to establish enhanced public disclosures for companies subject to prudential standards under section 165.7 In addition, the reporting requirements associated with the FR Y– 15 are authorized for BHCs pursuant to section 5 of the BHC Act; 8 for SLHCs pursuant to sections 10(b)(2) and 10(g) of the Home Owners’ Loan Act; 9 and for IHCs pursuant to section 5 of the BHC Act and sections 8(a) and 13(a) of the IBA.10 The FR Y–15 report is mandatory. Most information provided on the FR Y–15 is made public unless a reporting entity submits a specific request for confidentiality, either on the FR Y–15 or on the form from which the data item 12 U.S.C. 5363; 5365. 12 U.S.C. 5365(a)(2)(C). The Board is required to establish prudential standards for BHCs with assets equal to or greater than $250 billion and nonbank financial companies supervised by the Board that (A) are more stringent than the standards and requirements applicable to nonbank financial companies and bank holding companies that do not present similar risks to the financial stability of the United States; and (B) increase in stringency based on the considerations enumerated in section 165(b)(3). 12 U.S.C. 5365(a)(1). 6 12 U.S.C. 3106(a). Section 8(a)provides that certain foreign banks with U.S. operations will be treated as BHCs for purposes of the Bank Holding Company Act (BHC Act), and sections 163 and 165 of the Dodd-Frank Act amend the BHC Act. 7 12 U.S.C. 5365(b)(1)(B) and (f). 8 12 U.S.C. 1844. 9 12 U.S.C. 1467a(b)(2); 1467a(g). 10 12 U.S.C. 3106(a); 3108(a). 4 5 E:\FR\FM\23NON1.SGM 23NON1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 87, Number 225 (Wednesday, November 23, 2022)]
[Notices]
[Pages 71639-71640]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25493]


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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 extend for three years, with revision, the 
Transfer Agent Registration and Amendment Form and Transfer Agent 
Deregistration Form (Form TA-1 and Form TA-W); OMB No. 7100-0099).

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, [email protected], (202) 
452-3884.
    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 Extension for Three 
Years, With Revision, of the Following Information Collection

    Collection title: Transfer Agent Registration and Amendment Form 
and Transfer Agent Deregistration Form.
    Collection identifier: Form TA-1 and Form TA-W.
    OMB control number: 7100-0099.
    Effective Date: December 23, 2022.
    Frequency: As needed.
    Respondents: The respondent panel for this collection of 
information consists of current and former transfer agents that are a 
state member bank (SMB) or a subsidiary thereof, a bank holding company 
(BHC), a savings and loan holding company (SLHC), or a subsidiary of a 
BHC that is a bank within the meaning of the Securities Exchange Act of 
1934 (Exchange Act) and that is not required to register with the 
Office of the Comptroller of the Currency (OCC) or the Federal Deposit 
Insurance Corporation (FDIC).
    Estimated number of respondents: Registrations, 1; Amendments, 1; 
Deregistrations, 1.
    Estimated average hours per response: Registrations, 1.25; 
Amendments, 0.16; Deregistrations, 0.5.
    Estimated annual burden hours: Registrations, 1; Amendments, 0.16; 
Deregistrations, 1.
    General description of collection: The Exchange Act requires any 
person acting as a transfer agent \1\ to register as such with the 
appropriate regulatory agency (ARA). The Board is the ARA for transfer 
agents listed in the respondents section above. Transfer agents for 
which the Board is the ARA must register with the Board using Form TA-
1. Additionally, registered transfer agents for which the Board is 
their ARA may deregister by submitting Form TA-W.
---------------------------------------------------------------------------

    \1\ Transfer agents are persons that provide securities 
transfer, registration, monitoring, and other specified services on 
behalf of securities issuers. See 15 U.S.C. 78c(25) (defining 
``transfer agent'').
---------------------------------------------------------------------------

    Legal authorization and confidentiality: This information 
collection is authorized under section 17A(c) of the Exchange Act.\2\ 
The collection is also authorized under sections 2, 17(a)(3), and 23(a) 
of the Exchange Act \3\ and under the Board's

[[Page 71640]]

general authority to require reports from SMBs,\4\ BHCs,\5\ and 
SLHCs.\6\ The collection is mandatory for transfer agents for which the 
Board is the ARA. Information collected on the forms is available to 
the public upon request and is not considered confidential.
---------------------------------------------------------------------------

    \2\ 15 U.S.C. 78q-1(c) (requiring all transfer agents for 
securities registered under section 12 of the Exchange Act to 
register with the ARA by filing ``an application for registration in 
such form and containing such information'' as the ARA may 
prescribe).
    \3\ 12 U.S.C. 78b, 78q(a)(3) and 78w(a) (authorizing the Board 
to promulgate regulations and establish recordkeeping and reporting 
requirements with respect to Board-registered Transfer Agents).
    \4\ 12 U.S.C. 248(a) and 324.
    \5\ 12 U.S.C. 1844(c).
    \6\ 12 U.S.C. 1467a(b) and (g).
---------------------------------------------------------------------------

    Current actions: On July 6, 2022, the Board published a notice in 
the Federal Register (87 FR 40236) requesting public comment for 60 
days on the extension, with revision, of the Form TA-1 and Form TA-W. 
The Board proposed to utilize its own Form TA-W for respondents to 
deregister rather than asking respondents to use an SEC form or submit 
a separate letter, as has been done in the past. This would allow the 
Board to have its OMB control number on the form and make any changes 
in the future if necessary. The draft Form TA-W asks the same type of 
information that is on the SEC deregistration form. The comment period 
for this notice expired on September 6, 2022. The Board did not receive 
any comments. The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, November 17, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-25493 Filed 11-22-22; 8:45 am]
BILLING CODE 6210-01-P

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