Agency Information Collection Activities: Announcement of Board Approval under Delegated Authority and Submission to OMB, 85886-85887 [2023-27055]

Download as PDF 85886 Federal Register / Vol. 88, No. 236 / Monday, December 11, 2023 / Notices (5 U.S.C. App 2 10(a)(2)) Federal Communications Commission. Jodie May, Division Chief, Competition Policy Division, Wireline Competition Bureau. [FR Doc. 2023–27071 Filed 12–8–23; 8:45 am] BILLING CODE 6712–01–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 Reports of Foreign Banking Organizations (FR Y– 7N, FR Y–7NS, and FR Y–7Q; OMB No. 7100–0125). 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 requested from the agency clearance officer, whose name appears above. lotter on DSK11XQN23PROD with NOTICES1 SUPPLEMENTARY INFORMATION: VerDate Sep<11>2014 17:35 Dec 08, 2023 Jkt 262001 Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection Collection title: Reports of Foreign Banking Organizations. Collection identifier: FR Y–7N, FR Y– 7NS, and FR Y–7Q. OMB control number: 7100–0125. Effective Date: December 31, 2023, asof date for FR Y–7Q respondents that are also required to file the FR Y–15 report; December 31, 2024, for all other FR Y–7Q respondents. General description of collection: The FR Y–7N and FR Y–7NS collect financial information for certain nonfunctionally regulated U.S. nonbank subsidiaries held by foreign banking organizations (FBOs) other than through a U.S. bank holding company (BHC), financial holding company (FHC), or U.S. bank. For purposes of these reports, an FBO is a foreign bank that operates a branch, agency, or commercial lending company subsidiary in the United States; controls a bank in the United States; or controls an Edge corporation acquired after March 5, 1987.1 FBOs file the FR Y–7N quarterly or annually or the FR Y–7NS annually predominantly based on asset size thresholds. The FR Y–7Q collects consolidated regulatory capital information from all FBOs either quarterly or annually. The Federal Reserve uses the data collected on the FR Y–7N, FR Y–7NS, and FR Y–7Q to assess an FBO’s ability to be a continuing source of strength to its U.S. operations and to determine compliance with applicable U.S. laws and regulations. Frequency: Quarterly, annually. Respondents: FR Y–7N/NS: Nonfunctionally regulated U.S. nonbank subsidiaries held by FBOs other than through a BHC, FHC, or U.S. bank; FR Y–7Q: All FBOs. Total estimated number of respondents: 210. Total estimated change in burden: 510. Total estimated annual burden hours: 2,610.2 Current actions: On May 27, 2022, the Board published a notice in the Federal Register (87 FR 32614) requesting public comment for 60 days on the extension, with revision, of the FR Y– 7N, FR Y–7NS, and FR Y–7Q. The 12 CFR 211.21(o). 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 Y–7N, FR Y–7NS, and FR Y–7Q. 1 2 PO 00000 Frm 00021 Fmt 4703 Sfmt 4703 Board proposed to revise the FR Y–7Q report to: (1) add a line item on Part 1A., Capital and Asset Information for the Top-tier Foreign Banking Organization, to collect the total combined U.S. assets net of intercompany balances and transactions on a quarterly average basis; (2) remove the option of filing on a fiscal year basis and to instead require the respondent to file on a calendar period basis; (3) change the filing deadline from 90 days after quarter-end to 30 days after quarter-end for quarterly filers and from 90 days after quarter-end to 45 days for annual filers; (4) remove line item 8, as-of financial date, in Part 1A and line item 6, as-of financial date, in Part 2, as the elimination of the fiscal year basis reporting makes these items unnecessary; and (5) make other minor clarifications and conforming edits to the form and instructions. The comment period for this notice expired on July 26, 2022. Detailed Discussion of Public Comments The Board received a joint comment from two trade associations and a comment from an individual banking organization, as well as additional feedback through industry outreach. The commenters did not support the proposed revisions. Commenters expressed concern that the proposed line item for top-tier FBOs to report total combined U.S. assets net of intercompany balances and transactions on a quarterly average using daily data would impose significant operational costs on FBOs that do not currently perform the calculation. Specifically, commenters recommended instead to require the line item only for FBOs that file the FR Y– 15 and are in Categories II and III (and potentially Category IV) of the enhanced prudential standards applicable to FBOs under Regulation YY. Commenters also recommended a longer implementation period and allowing averaging for the line item to use monthly data when calculating the averages. In response to the comments received, the Board has decided to implement the new line item 6(b) as an average combined U.S. operations asset calculation using monthly data. The calculation would consist of providing the average of the three month-end balances within the quarter. Annual filers would provide the average of the three month-end balances of the fourth quarter of that filing year. Respondents that currently file the FR Y–15 would have this line item automatically retrieved to the FR Y–7Q from the FR Y–15. The Board believes the modified E:\FR\FM\11DEN1.SGM 11DEN1 lotter on DSK11XQN23PROD with NOTICES1 Federal Register / Vol. 88, No. 236 / Monday, December 11, 2023 / Notices requirement accommodates required updates to FBO reporting systems. Commenters also recommended retaining the option for FBOs to file the FR Y–7Q on a fiscal year basis. Commenters stated that FBOs that follow a non-calendar fiscal year base their home country reporting requirements, internal and external financial reporting, and management information systems around the 90-day filing deadline for the FR Y–7Q. In response to the comments received, the Board will move forward with a modified approach so that only the following three items that capture U.S. assets would be required to be filed on a calendar period basis: Line item 6(a)— Total combined U.S. assets net of intercompany balances and transactions; Line item 6(b)—Total combined U.S. assets net of intercompany balances and transactions, based on a quarterly average; and Line item 7—Total onbranch assets. The remaining line items on the FRY–7Q will continue to be collected with fiscal filing as an option. The Board has also decided to retain line item 8, as-of financial date, in Part 1A and line item 6, as-of financial date, in Part 2, in order to continue the use of the fiscal filing option, which will only apply to non-U.S. asset line items. FR Y–7Q respondents that are required to file the FR Y–15 would have already submitted total combined U.S. assets net of intercompany balances and transactions, given that the FR Y–15 is due 50 calendar days after March 31, June 30 and September 30, and 65 days after December 31. Individual respondents that believe the information they are required to submit under the FR Y–7Q is nonpublic commercial or financial information, which is both customarily and treated as private by the respondent, may request confidential treatment of such information under exemption 4 of the FOIA. Finally, commenters expressed concern about shortening the filing deadline for the FR Y–7Q because firms may need more than 30 days to provide capital adequacy information to their home country supervisor before they report it on the FR Y–7Q. Commenters stated that modifying home country reporting frameworks to file the information on an accelerated timetable based on the FR Y–7Q would require significant resources. In response to the comments received, the Board has modified the proposal to stagger implementation filing deadlines. The modified proposal would be implemented in two phases. Under phase one, effective as of December 31, VerDate Sep<11>2014 17:35 Dec 08, 2023 Jkt 262001 2023, all FR Y–7Q filers that file the FR Y–15 would report no later than 70 days after the report date. The remaining filers would have 90 days to file the FR Y–7Q after calendar end. Under phase two, effective as of December 31, 2024, all remaining FR Y–7Q filers would report no later than 70 days after the report date. Moving this implementation date to December 31, 2024, from the originally proposed December 31, 2022, would allow additional time for respondents to implement the necessary system enhancements. Further, fiscal filers with a report date after the calendar quarter-end periods (e.g. January 31, April 30, July 31 and October 31) inherently have additional time to submit the FR Y–7Q. Board of Governors of the Federal Reserve System, December 5, 2023. Michele Taylor Fennell, Deputy Associate Secretary of the Board. [FR Doc. 2023–27055 Filed 12–8–23; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [60Day–24–1385; Docket No. CDC–2024– 0098] Proposed Data Collection Submitted for Public Comment and Recommendations Centers for Disease Control and Prevention (CDC), Department of Health and Human Services (HHS). ACTION: Notice with comment period. AGENCY: The Centers for Disease Control and Prevention (CDC), as part of its continuing effort to reduce public burden and maximize the utility of government information, invites the general public and other Federal agencies the opportunity to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995. This notice invites comment on a proposed information collection project titled Characteristics of Cases of Priority Fungal Diseases. These case report forms (CRFs) collect information on patient demographics, underlying conditions, diagnosis, treatments, healthcare utilization, and outcomes of patients with coccidioidomycosis, histoplasmosis, blastomycosis, Candida auris, triazoleresistant Aspergillus fumigatus infection or colonization, or antifungal-resistant dermatophytosis. SUMMARY: PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 85887 CDC must receive written comments on or before February 9, 2024. DATES: You may submit comments, identified by Docket No. CDC–2024– 0098 by either of the following methods: • Federal eRulemaking Portal: www.regulations.gov. Follow the instructions for submitting comments. • Mail: Jeffrey M. Zirger, Information Collection Review Office, Centers for Disease Control and Prevention, 1600 Clifton Road NE, MS H21–8, Atlanta, Georgia 30329. Instructions: All submissions received must include the agency name and Docket Number. CDC will post, without change, all relevant comments to www.regulations.gov. Please note: Submit all comments through the Federal eRulemaking portal (www.regulations.gov) or by U.S. mail to the address listed above. FOR FURTHER INFORMATION CONTACT: To request more information on the proposed project or to obtain a copy of the information collection plan and instruments, contact Jeffrey M. Zirger, Information Collection Review Office, Centers for Disease Control and Prevention, 1600 Clifton Road NE, MS H21–8, Atlanta, Georgia 30329; Telephone: 404–639–7570; Email: omb@ cdc.gov. SUPPLEMENTARY INFORMATION: Under the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3501–3520), Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. In addition, the PRA also requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each new proposed collection, each proposed extension of existing collection of information, and each reinstatement of previously approved information collection before submitting the collection to the OMB for approval. To comply with this requirement, we are publishing this notice of a proposed data collection as described below. The OMB is particularly interested in comments that will help: 1. Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; 2. Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; ADDRESSES: E:\FR\FM\11DEN1.SGM 11DEN1

Agencies

[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85886-85887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27055]


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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 
Reports of Foreign Banking Organizations (FR Y-7N, FR Y-7NS, and FR Y-
7Q; OMB No. 7100-0125).

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: Reports of Foreign Banking Organizations.
    Collection identifier: FR Y-7N, FR Y-7NS, and FR Y-7Q.
    OMB control number: 7100-0125.
    Effective Date: December 31, 2023, as-of date for FR Y-7Q 
respondents that are also required to file the FR Y-15 report; December 
31, 2024, for all other FR Y-7Q respondents.
    General description of collection: The FR Y-7N and FR Y-7NS collect 
financial information for certain non-functionally regulated U.S. 
nonbank subsidiaries held by foreign banking organizations (FBOs) other 
than through a U.S. bank holding company (BHC), financial holding 
company (FHC), or U.S. bank. For purposes of these reports, an FBO is a 
foreign bank that operates a branch, agency, or commercial lending 
company subsidiary in the United States; controls a bank in the United 
States; or controls an Edge corporation acquired after March 5, 
1987.\1\ FBOs file the FR Y-7N quarterly or annually or the FR Y-7NS 
annually predominantly based on asset size thresholds. The FR Y-7Q 
collects consolidated regulatory capital information from all FBOs 
either quarterly or annually.
---------------------------------------------------------------------------

    \1\ 12 CFR 211.21(o).
---------------------------------------------------------------------------

    The Federal Reserve uses the data collected on the FR Y-7N, FR Y-
7NS, and FR Y-7Q to assess an FBO's ability to be a continuing source 
of strength to its U.S. operations and to determine compliance with 
applicable U.S. laws and regulations.
    Frequency: Quarterly, annually.
    Respondents: FR Y-7N/NS: Non-functionally regulated U.S. nonbank 
subsidiaries held by FBOs other than through a BHC, FHC, or U.S. bank; 
FR Y-7Q: All FBOs.
    Total estimated number of respondents: 210.
    Total estimated change in burden: 510.
    Total estimated annual burden hours: 2,610.\2\
---------------------------------------------------------------------------

    \2\ 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 Y-7N, FR Y-7NS, and FR Y-7Q.
---------------------------------------------------------------------------

    Current actions: On May 27, 2022, the Board published a notice in 
the Federal Register (87 FR 32614) requesting public comment for 60 
days on the extension, with revision, of the FR Y-7N, FR Y-7NS, and FR 
Y-7Q. The Board proposed to revise the FR Y-7Q report to: (1) add a 
line item on Part 1A., Capital and Asset Information for the Top-tier 
Foreign Banking Organization, to collect the total combined U.S. assets 
net of intercompany balances and transactions on a quarterly average 
basis; (2) remove the option of filing on a fiscal year basis and to 
instead require the respondent to file on a calendar period basis; (3) 
change the filing deadline from 90 days after quarter-end to 30 days 
after quarter-end for quarterly filers and from 90 days after quarter-
end to 45 days for annual filers; (4) remove line item 8, as-of 
financial date, in Part 1A and line item 6, as-of financial date, in 
Part 2, as the elimination of the fiscal year basis reporting makes 
these items unnecessary; and (5) make other minor clarifications and 
conforming edits to the form and instructions. The comment period for 
this notice expired on July 26, 2022.

Detailed Discussion of Public Comments

    The Board received a joint comment from two trade associations and 
a comment from an individual banking organization, as well as 
additional feedback through industry outreach. The commenters did not 
support the proposed revisions.
    Commenters expressed concern that the proposed line item for top-
tier FBOs to report total combined U.S. assets net of intercompany 
balances and transactions on a quarterly average using daily data would 
impose significant operational costs on FBOs that do not currently 
perform the calculation. Specifically, commenters recommended instead 
to require the line item only for FBOs that file the FR Y-15 and are in 
Categories II and III (and potentially Category IV) of the enhanced 
prudential standards applicable to FBOs under Regulation YY. Commenters 
also recommended a longer implementation period and allowing averaging 
for the line item to use monthly data when calculating the averages.
    In response to the comments received, the Board has decided to 
implement the new line item 6(b) as an average combined U.S. operations 
asset calculation using monthly data. The calculation would consist of 
providing the average of the three month-end balances within the 
quarter. Annual filers would provide the average of the three month-end 
balances of the fourth quarter of that filing year. Respondents that 
currently file the FR Y-15 would have this line item automatically 
retrieved to the FR Y-7Q from the FR Y-15. The Board believes the 
modified

[[Page 85887]]

requirement accommodates required updates to FBO reporting systems.
    Commenters also recommended retaining the option for FBOs to file 
the FR Y-7Q on a fiscal year basis. Commenters stated that FBOs that 
follow a non-calendar fiscal year base their home country reporting 
requirements, internal and external financial reporting, and management 
information systems around the 90-day filing deadline for the FR Y-7Q.
    In response to the comments received, the Board will move forward 
with a modified approach so that only the following three items that 
capture U.S. assets would be required to be filed on a calendar period 
basis: Line item 6(a)--Total combined U.S. assets net of intercompany 
balances and transactions; Line item 6(b)--Total combined U.S. assets 
net of intercompany balances and transactions, based on a quarterly 
average; and Line item 7--Total on-branch assets. The remaining line 
items on the FRY-7Q will continue to be collected with fiscal filing as 
an option.
    The Board has also decided to retain line item 8, as-of financial 
date, in Part 1A and line item 6, as-of financial date, in Part 2, in 
order to continue the use of the fiscal filing option, which will only 
apply to non-U.S. asset line items. FR Y-7Q respondents that are 
required to file the FR Y-15 would have already submitted total 
combined U.S. assets net of intercompany balances and transactions, 
given that the FR Y-15 is due 50 calendar days after March 31, June 30 
and September 30, and 65 days after December 31. Individual respondents 
that believe the information they are required to submit under the FR 
Y-7Q is nonpublic commercial or financial information, which is both 
customarily and treated as private by the respondent, may request 
confidential treatment of such information under exemption 4 of the 
FOIA.
    Finally, commenters expressed concern about shortening the filing 
deadline for the FR Y-7Q because firms may need more than 30 days to 
provide capital adequacy information to their home country supervisor 
before they report it on the FR Y-7Q. Commenters stated that modifying 
home country reporting frameworks to file the information on an 
accelerated timetable based on the FR Y-7Q would require significant 
resources.
    In response to the comments received, the Board has modified the 
proposal to stagger implementation filing deadlines. The modified 
proposal would be implemented in two phases. Under phase one, effective 
as of December 31, 2023, all FR Y-7Q filers that file the FR Y-15 would 
report no later than 70 days after the report date. The remaining 
filers would have 90 days to file the FR Y-7Q after calendar end. Under 
phase two, effective as of December 31, 2024, all remaining FR Y-7Q 
filers would report no later than 70 days after the report date. Moving 
this implementation date to December 31, 2024, from the originally 
proposed December 31, 2022, would allow additional time for respondents 
to implement the necessary system enhancements. Further, fiscal filers 
with a report date after the calendar quarter-end periods (e.g. January 
31, April 30, July 31 and October 31) inherently have additional time 
to submit the FR Y-7Q.

    Board of Governors of the Federal Reserve System, December 5, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-27055 Filed 12-8-23; 8:45 am]
BILLING CODE 6210-01-P
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