Agency Information Collection Activities: Announcement of Board Approval under Delegated Authority and Submission to OMB, 46163-46164 [2023-15239]

Download as PDF Federal Register / Vol. 88, No. 137 / Wednesday, July 19, 2023 / Notices 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, nuha.elmaghrabi@frb.gov, (202) 452–3884. 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 (which contains more detail about the information collection and burden estimates than this notice), and other documentation, will be made available on the Board’s public website at https:// www.federalreserve.gov/apps/ reportingforms/home/review 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. ddrumheller on DSK120RN23PROD with NOTICES1 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 VerDate Sep<11>2014 00:36 Jul 19, 2023 Jkt 259001 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 Collection title: Reporting Requirements Associated with Regulation XX. Collection identifier: FR XX. OMB control number: 7100–0363. General description of collection: The Board’s Regulation XX—Concentration Limit (12 CFR part 251) implements section 14 of the Bank Holding Company Act of 1956 (BHC Act), which establishes a financial sector concentration limit that generally prohibits a financial company from merging or consolidating with, or otherwise acquiring, another company if the resulting company’s liabilities upon consummation would exceed 10 percent of the aggregate liabilities of all financial companies (a covered acquisition). Under section 14 of the BHC Act and Regulation XX, a financial company means (1) an insured depository institution, (2) a bank holding company, (3) a savings and loan holding company, (4) any other company that controls an insured depository institution, (5) a nonbank financial company designated by the Financial Stability Oversight Council for supervision by the Board, or (6) a foreign bank or company that is treated as a bank holding company for purposes of the BHC Act. Regulation XX includes certain reporting requirements that apply to financial companies (sections 251.3(e), 251.4(b), and 251.4(c)). In addition, section 251.6 of Regulation XX requires financial companies that do not report consolidated financial information to the Board or other appropriate Federal banking agency to report information on their total liabilities; the Board has implemented this requirement through the Financial Company (as defined) Report of Consolidated Liabilities (FR XX–1). Frequency: Event-generated, annual. Respondents: Financial companies. Total estimated number of respondents: Section 251.3(e): 1. Section 251.4(b): 1. Section 251.4(c): 1. PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 46163 Section 251.6 (FR XX–1): 35. Estimated average hours per response: Section 251.3(e): 5. Section 251.4(b): 10. Section 251.4(c): 10. Section 251.6 (FR XX–1): 9. Total estimated annual burden hours: 97.1 Board of Governors of the Federal Reserve System, July 13, 2023. Erin Cayce, Assistant Secretary of the Board. [FR Doc. 2023–15243 Filed 7–18–23; 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, without revision, the Reporting and Recordkeeping Requirements Associated with Regulation KK (FR KK; OMB No. 7100–0364). 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. 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 AGENCY: 1 More detailed information regarding this collection, including more detailed burden estimates, can be found in the OMB Supporting Statement posted at https://www.federalreserve.gov/ apps/reportingforms/home/review. On the page displayed at the link, you can find the OMB Supporting Statement by referencing the collection identifier, FR XX. E:\FR\FM\19JYN1.SGM 19JYN1 46164 Federal Register / Vol. 88, No. 137 / Wednesday, July 19, 2023 / Notices (which contain more detailed information about the information collections and burden estimates than this notice), 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/ reportingforms/home/review or may be requested from the agency clearance officer, whose name appears above. ddrumheller on DSK120RN23PROD with NOTICES1 Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection Collection title: Reporting and Recordkeeping Requirements Associated with Regulation KK.1 Collection identifier: FR KK. OMB control number: 7100–0364. General description of collection: Pursuant to sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Farm Credit Administration, and Federal Housing Finance Agency (collectively, the agencies) have adopted regulations, including the Board’s Regulation KK— Swaps Margin and Swaps Push-Out (12 CFR part 237), establishing capital requirements and initial and variation margin requirements for certain entities on certain non-cleared swaps and noncleared security-based swaps. These regulations include reporting and recordkeeping requirements.2 Frequency: Event generated. Respondents: Any swap entity 3 that is a state member bank (as defined in 12 1 The Board has modified the title of this information collection to reflect that the Board’s Regulation KK does not include any disclosure collections of information, as defined by the Paperwork Reduction Act (PRA). Specifically, the Board has determined that section 237.1(h), previously cleared as part of the FR KK, no longer includes a disclosure collection of information, because the conditions triggering the disclosure will not occur. In addition, the Board has determined to omit from the FR KK the following provisions of Regulation KK that were formerly referenced in the clearance, because it has determined that they do not constitute collections of information under the PRA: sections 237.1(d); 237.5(c)(2)(i); 237.8(c)(2); 237.8(d)(5), (12), and (13); 238.8(e); and 237.8(f)(2), (3), and (4). 2 See 80 FR 74839 (November 30, 2015); see also 79 FR 340 (January 3, 2014). The Board-specific rules have been codified in Regulation KK. 3 A ‘‘swap entity’’ means a person that is registered with the Commodity Futures Trading Commission as a swap dealer or major swap participant pursuant to the Commodity Exchange Act of 1936, or a person that is registered with the U.S. Securities and Exchange Commission as a security-based swap dealer or a major securitybased swap participant pursuant to the Securities Exchange Act of 1934 (12 CFR 237.2). VerDate Sep<11>2014 00:36 Jul 19, 2023 Jkt 259001 CFR 208.2(g)), bank holding company (as defined in 12 U.S.C. 1841), savings and loan holding company (as defined in 12 U.S.C. 1467a), foreign banking organization (as defined in 12 CFR 211.21(o)), foreign bank that does not operate an insured branch, state branch or state agency of a foreign bank (as defined in 12 U.S.C. 3101(b)(11) and (12)), or Edge or agreement corporation (as defined in 12 CFR 211.1(c)(2) and (3)), as well as any other entity determined to be a covered swap entity by the Board. Total estimated number of respondents: 1 for reporting requirements, 41 for recordkeeping requirements.4 Estimated average hours per response: Reporting Sections 237.8(c) and 237.8(d)–240. Reporting Section 237.8(f)(3)–50. Reporting Section 237.9(e)–10. Reporting Sections 237.22(a)(1) and 237.22(e) (Board only)–7. Recordkeeping Section 237.2 (definition of ‘‘eligible master netting agreement,’’ item 4)–1. Recordkeeping Section 237.7(c)–100. Recordkeeping Section 237.8(g)–2. Recordkeeping Section 237.8(h)–20. Recordkeeping Section 237.10–2. Total estimated annual burden hours: 5,452.5 Current actions: On March 1, 2023, the Board published a notice in the Federal Register (88 FR 12936) requesting public comment for 60 days on the extension, without revision, of the FR KK. The comment period for this notice expired on May 1, 2023. The Board did not receive any comments relevant to this collection or to the PRA. Board of Governors of the Federal Reserve System, July 13, 2023. Erin Cayce, Assistant Secretary of the Board. [FR Doc. 2023–15239 Filed 7–18–23; 8:45 am] BILLING CODE 6210–01–P 4 The burden table in the initial Federal Register notice incorrectly stated that the estimated number of respondents for the recordkeeping requirements is 1, and that the estimate has been corrected to 41, given that the requirements are ongoing for firms engaging in the activities covered by the regulation provisions at issue. 5 More detailed information regarding this collection, including more detailed burden estimates, can be found in the OMB Supporting Statement posted at https://www.federalreserve.gov/ apps/reportingforms/home/review. On the page displayed at the link, you can find the OMB Supporting Statement by referencing the collection identifier, FR KK. PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 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 Requirements Associated with Regulation H (Real Estate Lending Standards Regulation for State Member Banks) (FR H–5; OMB No. 7100–0261). DATES: Comments must be submitted on or before September 18, 2023. ADDRESSES: You may submit comments, identified by FR H–5, 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. • FAX: (202) 452–3819 or (202) 452– 3102. • Mail: Federal Reserve Board of Governors, Attn: Ann E. Misback, Secretary of the Board, Mailstop M– 4775, 2001 C St 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 M– 4365A, 2001 C St NW, Washington, DC 20551, between 9 a.m. and 5 p.m. on weekdays, except for Federal holidays. 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, SUMMARY: E:\FR\FM\19JYN1.SGM 19JYN1

Agencies

[Federal Register Volume 88, Number 137 (Wednesday, July 19, 2023)]
[Notices]
[Pages 46163-46164]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-15239]


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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, without revision, the 
Reporting and Recordkeeping Requirements Associated with Regulation KK 
(FR KK; OMB No. 7100-0364).

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

[[Page 46164]]

(which contain more detailed information about the information 
collections and burden estimates than this notice), 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/reportingforms/home/review 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, Without Revision, of the Following Information Collection

    Collection title: Reporting and Recordkeeping Requirements 
Associated with Regulation KK.\1\
---------------------------------------------------------------------------

    \1\ The Board has modified the title of this information 
collection to reflect that the Board's Regulation KK does not 
include any disclosure collections of information, as defined by the 
Paperwork Reduction Act (PRA). Specifically, the Board has 
determined that section 237.1(h), previously cleared as part of the 
FR KK, no longer includes a disclosure collection of information, 
because the conditions triggering the disclosure will not occur. In 
addition, the Board has determined to omit from the FR KK the 
following provisions of Regulation KK that were formerly referenced 
in the clearance, because it has determined that they do not 
constitute collections of information under the PRA: sections 
237.1(d); 237.5(c)(2)(i); 237.8(c)(2); 237.8(d)(5), (12), and (13); 
238.8(e); and 237.8(f)(2), (3), and (4).
---------------------------------------------------------------------------

    Collection identifier: FR KK.
    OMB control number: 7100-0364.
    General description of collection: Pursuant to sections 731 and 764 
of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-
Frank Act), the Board, Office of the Comptroller of the Currency, 
Federal Deposit Insurance Corporation, Farm Credit Administration, and 
Federal Housing Finance Agency (collectively, the agencies) have 
adopted regulations, including the Board's Regulation KK--Swaps Margin 
and Swaps Push-Out (12 CFR part 237), establishing capital requirements 
and initial and variation margin requirements for certain entities on 
certain non-cleared swaps and non-cleared security-based swaps. These 
regulations include reporting and recordkeeping requirements.\2\
---------------------------------------------------------------------------

    \2\ See 80 FR 74839 (November 30, 2015); see also 79 FR 340 
(January 3, 2014). The Board-specific rules have been codified in 
Regulation KK.
---------------------------------------------------------------------------

    Frequency: Event generated.
    Respondents: Any swap entity \3\ that is a state member bank (as 
defined in 12 CFR 208.2(g)), bank holding company (as defined in 12 
U.S.C. 1841), savings and loan holding company (as defined in 12 U.S.C. 
1467a), foreign banking organization (as defined in 12 CFR 211.21(o)), 
foreign bank that does not operate an insured branch, state branch or 
state agency of a foreign bank (as defined in 12 U.S.C. 3101(b)(11) and 
(12)), or Edge or agreement corporation (as defined in 12 CFR 
211.1(c)(2) and (3)), as well as any other entity determined to be a 
covered swap entity by the Board.
---------------------------------------------------------------------------

    \3\ A ``swap entity'' means a person that is registered with the 
Commodity Futures Trading Commission as a swap dealer or major swap 
participant pursuant to the Commodity Exchange Act of 1936, or a 
person that is registered with the U.S. Securities and Exchange 
Commission as a security-based swap dealer or a major security-based 
swap participant pursuant to the Securities Exchange Act of 1934 (12 
CFR 237.2).
---------------------------------------------------------------------------

    Total estimated number of respondents: 1 for reporting 
requirements, 41 for recordkeeping requirements.\4\
---------------------------------------------------------------------------

    \4\ The burden table in the initial Federal Register notice 
incorrectly stated that the estimated number of respondents for the 
recordkeeping requirements is 1, and that the estimate has been 
corrected to 41, given that the requirements are ongoing for firms 
engaging in the activities covered by the regulation provisions at 
issue.
---------------------------------------------------------------------------

    Estimated average hours per response:

Reporting Sections 237.8(c) and 237.8(d)-240.
Reporting Section 237.8(f)(3)-50.
Reporting Section 237.9(e)-10.
Reporting Sections 237.22(a)(1) and 237.22(e) (Board only)-7.
Recordkeeping Section 237.2 (definition of ``eligible master netting 
agreement,'' item 4)-1.
Recordkeeping Section 237.7(c)-100.
Recordkeeping Section 237.8(g)-2.
Recordkeeping Section 237.8(h)-20.
Recordkeeping Section 237.10-2.
    Total estimated annual burden hours: 5,452.\5\
---------------------------------------------------------------------------

    \5\ More detailed information regarding this collection, 
including more detailed burden estimates, can be found in the OMB 
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you 
can find the OMB Supporting Statement by referencing the collection 
identifier, FR KK.
---------------------------------------------------------------------------

    Current actions: On March 1, 2023, the Board published a notice in 
the Federal Register (88 FR 12936) requesting public comment for 60 
days on the extension, without revision, of the FR KK. The comment 
period for this notice expired on May 1, 2023. The Board did not 
receive any comments relevant to this collection or to the PRA.

    Board of Governors of the Federal Reserve System, July 13, 2023.
Erin Cayce,
Assistant Secretary of the Board.
[FR Doc. 2023-15239 Filed 7-18-23; 8:45 am]
BILLING CODE 6210-01-P
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