Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 12340 [2024-03214]
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Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / Notices
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: Recordkeeping
Provisions Associated with Stress
Testing Guidance.
Collection identifier: FR 4202.
OMB control number: 7100–0348.
General description of collection: The
Stress Testing Guidance was issued
jointly by the Board, Federal Deposit
Insurance Corporation, and Office of the
Comptroller of the Currency on May 17,
2012. The interagency guidance outlines
high-level principles for stress testing
practices applicable to all Boardsupervised banking organizations with
more than $10 billion in total
consolidated assets.
Frequency: As needed.
Respondents: Board-supervised
banking organizations with more than
$10 billion in total consolidated assets.
These include state member banks, bank
holding companies, and all other
institutions for which the Board is the
primary federal supervisor.
Total estimated number of
respondents: 135.
Total estimated annual burden hours:
13,920.1
Board of Governors of the Federal Reserve
System, February 12, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024–03217 Filed 2–15–24; 8:45 am]
Final Approval Under OMB Delegated
Authority of the Extension for Three
Years, With Revision, of the Following
Information Collection
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
lotter on DSK11XQN23PROD with NOTICES1
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 4202.
VerDate Sep<11>2014
17:24 Feb 15, 2024
Jkt 262001
years, with revision, the Recordkeeping
and Disclosure Requirements
Associated with Regulation O (FR O;
OMB No. 7100–0382).
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
(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.federal
reserve.gov/apps/reportingforms/home/
review or may be requested from the
agency clearance officer, whose name
appears above.
Collection title: Recordkeeping and
Disclosure Requirements Associated
with Regulation O.
Collection identifier: FR O.
OMB control number: 7100–0382.
Date: March 18, 2024.
General description of collection: The
Board’s Regulation O—Loans to
Executive Officers, Directors, and
Principal Shareholders of Member
Banks (12 CFR part 215) governs any
extension of credit made by a member
bank to an executive officer, director, or
principal shareholder of the member
bank, of any company of which the
member bank is a subsidiary, and of any
other subsidiary of that company.
Regulation O prohibits extensions of
PO 00000
Frm 00039
Fmt 4703
Sfmt 9990
credit to insiders unless they are made
on substantially the same terms
(including interest rates and collateral)
as those prevailing at the time for
comparable transactions by the bank
with other persons who are not
employed by the bank and do not
involve more than the normal risk of
repayment or present other unfavorable
features. In addition, Regulation O
limits extensions of credit by a member
bank to individual insiders and to all
insiders, requires a member bank’s
board of directors to approve certain
large extensions of credit, and sets forth
recordkeeping and disclosure
requirements.
Frequency: Event-generated.
Respondents: Insured depository
institutions and uninsured member
banks.
Total estimated number of
respondents: 6,099.
Total estimated change in burden:
12,512.
Total estimated annual burden hours:
21,932.1
Current actions: On September 28,
2023, the Board published a notice in
the Federal Register (88 FR 66843)
requesting public comment for 60 days
on the extension, with revision, of the
FR O. The FR O PRA clearance
currently only lists member banks as
respondents. The Board proposed to
revise the FR O PRA clearance to reflect
that the information collections
included in Regulation O, by operation
of statute, apply in practice to all
insured depository institutions,
regardless of whether they are member
banks. This revision would be solely an
administrative law matter, and would
not actually impose new requirements
on any institutions. While the proposed
revision would not substantively
increase burden for any institution, the
administrative change would result in a
larger reported burden of 21,932 hours.
The comment period for this notice
expired on November 27, 2023. The
Board did not receive any comments.
The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve
System, February 12, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024–03214 Filed 2–15–24; 8:45 am]
BILLING CODE 6210–01–P
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 O.
E:\FR\FM\16FEN1.SGM
16FEN1
]]>Agencies
[Federal Register Volume 89, Number 33 (Friday, February 16, 2024)]
[Notices]
[Page 12340]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03214]
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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
Recordkeeping and Disclosure Requirements Associated with Regulation O
(FR O; OMB No. 7100-0382).
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 (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, With Revision, of the Following Information Collection
Collection title: Recordkeeping and Disclosure Requirements
Associated with Regulation O.
Collection identifier: FR O.
OMB control number: 7100-0382.
Date: March 18, 2024.
General description of collection: The Board's Regulation O--Loans
to Executive Officers, Directors, and Principal Shareholders of Member
Banks (12 CFR part 215) governs any extension of credit made by a
member bank to an executive officer, director, or principal shareholder
of the member bank, of any company of which the member bank is a
subsidiary, and of any other subsidiary of that company. Regulation O
prohibits extensions of credit to insiders unless they are made on
substantially the same terms (including interest rates and collateral)
as those prevailing at the time for comparable transactions by the bank
with other persons who are not employed by the bank and do not involve
more than the normal risk of repayment or present other unfavorable
features. In addition, Regulation O limits extensions of credit by a
member bank to individual insiders and to all insiders, requires a
member bank's board of directors to approve certain large extensions of
credit, and sets forth recordkeeping and disclosure requirements.
Frequency: Event-generated.
Respondents: Insured depository institutions and uninsured member
banks.
Total estimated number of respondents: 6,099.
Total estimated change in burden: 12,512.
Total estimated annual burden hours: 21,932.\1\
---------------------------------------------------------------------------
\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 O.
---------------------------------------------------------------------------
Current actions: On September 28, 2023, the Board published a
notice in the Federal Register (88 FR 66843) requesting public comment
for 60 days on the extension, with revision, of the FR O. The FR O PRA
clearance currently only lists member banks as respondents. The Board
proposed to revise the FR O PRA clearance to reflect that the
information collections included in Regulation O, by operation of
statute, apply in practice to all insured depository institutions,
regardless of whether they are member banks. This revision would be
solely an administrative law matter, and would not actually impose new
requirements on any institutions. While the proposed revision would not
substantively increase burden for any institution, the administrative
change would result in a larger reported burden of 21,932 hours. The
comment period for this notice expired on November 27, 2023. The Board
did not receive any comments. The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve System, February 12,
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-03214 Filed 2-15-24; 8:45 am]
BILLING CODE 6210-01-P
