Proposed Agency Information Collection Activities; Comment Request, 90283-90284 [2024-26706]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 89, Number 221 (Friday, November 15, 2024)]
[Notices]
[Pages 90283-90284]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26706]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Reporting and Recordkeeping Requirements Associated with 
Regulation W (FR W; 7100-0304).

DATES: Comments must be submitted on or before January 14, 2025.

ADDRESSES: You may submit comments, identified by FR W, 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 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 9:00 a.m. and 
5:00 p.m. on weekdays, except for Federal

[[Page 90284]]

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, 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.

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.

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/review or 
may be requested from the agency clearance officer, whose name appears 
above. On the page displayed at the link above, you can find the 
supporting information by referencing the collection identifier, FR W. 
Final versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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 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 and Recordkeeping Requirements 
Associated with Regulation W.
    Collection identifier: FR W.
    OMB control number: 7100-0304.
    General description of collection: The FR W information collection 
comprises the reporting requirements of Regulation W that are found in 
sections 223.15(b)(4), 223.31(d)(4), 223.41(d)(2), and 223.43(b) and 
the recordkeeping requirements found in sections 223.42(f)(6) and 
223.42(g)(3). This information is used to demonstrate compliance with 
sections 23A and 23B of the Federal Reserve Act (FRA) and to request 
certain exemptions from the Board. Sections 23A and 23B of the FRA are 
designed to protect a depository institution from exposure arising from 
certain transactions with affiliates. They also limit the ability of an 
insured depository institution to transfer the subsidy arising from 
access to the federal safety net to such affiliates. Regulation W 
implements sections 23A and 23B by defining terms used in the statute, 
explaining the statute's requirements, and exempting certain 
transactions. The regulation includes provisions requiring the 
reporting of information to the Board under certain circumstances, to 
determine whether a depository institution is complying with sections 
23A and 23B of the FRA and Regulation W and whether a proposed 
transaction is financially sound and consistent with the public 
interest.
    Frequency: Event generated.
    Respondents: Insured depository institutions and uninsured member 
banks.
    Total estimated number of respondents: 2.
    Total estimated annual burden hours: 56.

    Board of Governors of the Federal Reserve System, November 12, 
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-26706 Filed 11-14-24; 8:45 am]
BILLING CODE 6210-01-P