Regulation Q; Regulatory Capital Rule: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies, 102908-102909 [2024-29981]

Download as PDF 102908 Federal Register / Vol. 89, No. 243 / Wednesday, December 18, 2024 / Notices unit. Information submitted on the substances within a category should be reported for each individual chemical structure, to the extent possible (i.e., known or reasonably ascertainable). 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How will confidential business information be protected? A person seeking to protect from disclosure as ‘‘confidential business information’’ any information that person submits under TSCA must assert and substantiate a claim for protection from disclosure concurrent with submission of the information in accordance with the requirements of TSCA section 14 and 40 CFR 703, with limited exceptions provided in the statute. TSCA section 14(b) limits VerDate Sep<11>2014 18:09 Dec 17, 2024 Jkt 265001 confidentiality protections for health and safety studies and information from such studies, however, and while EPA considers confidential business information when conducting its review under 40 CFR 702.9(a), the Agency encourages submitters to minimize claims for protection from disclosure wherever possible to maximize transparency in EPA’s screening review. More information on asserting and submitting confidential business information claims under TSCA can be found at 40 CFR 703 and https:// www.epa.gov/tsca-cbi. Authority: 15 U.S.C. 2601 et seq. Dated: December 12, 2024. Michal Freedhoff, Assistant Administrator, Office of Chemical Safety and Pollution Prevention. [FR Doc. 2024–29829 Filed 12–17–24; 8:45 am] BILLING CODE 6560–50–P FEDERAL ELECTION COMMISSION Sunshine Act Meetings FEDERAL REGISTER CITATION NOTICE OF PREVIOUS ANNOUNCEMENT: 89 FR 89012. PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, November 14, 2024 at 11:00 a.m., Hybrid Meeting: 1050 First Street NE, Washington, DC (12th Floor) and virtual. CHANGE IN THE MEETING: The November 14, 2024 Open Meeting was canceled. CONTACT PERSON FOR MORE INFORMATION: Judith Ingram, Press Officer. Telephone: (202) 694–1220. (Authority: Government in the Sunshine Act, 5 U.S.C. 552b) Laura E. Sinram, Secretary and Clerk of the Commission. [FR Doc. 2024–30107 Filed 12–16–24; 11:15 am] BILLING CODE 6715–01–P FEDERAL RESERVE SYSTEM [Docket No. OP–1863] Regulation Q; Regulatory Capital Rule: Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies Board of Governors of the Federal Reserve System (Board). ACTION: Notice. AGENCY: The Board is providing notice of the 2024 aggregate global indicator amounts, as required under the Board’s rule regarding risk-based capital surcharges for global systemically important bank holding companies. SUMMARY: PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 DATES: December 18, 2024. FOR FURTHER INFORMATION CONTACT: Anna Lee Hewko, Associate Director, (202) 250–1577, Brian Chernoff, Manager, (202) 731–8914, Alexander Jiron, Senior Financial Institution Policy Analyst II, (202) 450–7350, or Aakash Jani, Senior Financial Institution Policy Analyst I, (202) 941–8305, Division of Supervision and Regulation; or Jay Schwarz, Deputy Associate General Counsel, (202) 452–2970, Mark Buresh, Senior Special Counsel, (202) 499–0261, Jonah Kind, Senior Counsel, (202) 309– 5287, or David Imhoff, Senior Attorney (202) 834–3222, Legal Division. Board of Governors of the Federal Reserve System, 20th and C NW, Washington, DC 20551. For the hearing impaired and users of Telecommunications Device for the Deaf (TDD) and TTY–TRS, please call 711 from any telephone, anywhere in the United States. SUPPLEMENTARY INFORMATION: The Board’s framework for determining riskbased capital surcharges for global systemically important bank holding companies (GSIB surcharge rule) establishes a methodology to identify global systemically important bank holding companies (GSIBs) in the United States based on indicators that are correlated with systemic importance.1 Under the GSIB surcharge rule, a firm must calculate its GSIB score using a specific formula (method 1). Method 1 uses five equally weighted categories that are correlated with systemic importance—size, interconnectedness, cross-jurisdictional activity, substitutability, and complexity—and subdivided into twelve systemic indicators. A firm divides its own measure of each systemic indicator by an aggregate global indicator amount. A firm’s method 1 score is the sum of its weighted systemic indicator scores expressed in basis points. A firm that calculates a method 1 score of 130 basis points or more is identified as a GSIB under the GSIB surcharge rule. The GSIB surcharge for a firm is the higher of the GSIB surcharge determined under method 1 and a second method, method 2, which is calculated based on measures of size, interconnectedness, cross-jurisdictional activity, complexity, and the firm’s reliance on short-term wholesale funding.2 The aggregate global indicator amounts used in the score calculation 1 See 12 CFR 217.402, 217.404. 2 uses similar inputs to those used in method 1 but replaces the substitutability category with a measure of a firm’s use of short-term wholesale funding. In addition, method 2 is calibrated differently from method 1. See 12 CFR 217.405. 2 Method E:\FR\FM\18DEN1.SGM 18DEN1 102909 Federal Register / Vol. 89, No. 243 / Wednesday, December 18, 2024 / Notices under method 1 are based on data collected by the Basel Committee on Banking Supervision (BCBS). The BCBS amounts are determined based on the sum of the systemic indicator amounts as reported by the 75 largest U.S. and foreign banking organizations as measured by the BCBS, and any other banking organization that the BCBS includes in its sample total for that year. The BCBS publicly releases these amounts, denominated in euros, each year.3 Pursuant to the GSIB surcharge rule, the Board publishes the aggregate global indicator amounts each year as denominated in U.S. dollars using the euro-dollar exchange rate provided by the BCBS.4 Specifically, to determine the 2024 aggregate global indicator amounts, the Board uses the year-end 2023 euro-denominated indicator amounts published by the BCBS and multiplies each of the eurodenominated indicator amounts by 1.105, the euro to U.S. dollar spot exchange rate on December 31, 2023.5 The aggregate global indicator amounts expressed in U.S. dollars for purposes of the 2024 method 1 score calculation under § 217.404(b)(1)(i)(B) of the GSIB surcharge rule are: AGGREGATE GLOBAL INDICATOR AMOUNTS IN U.S. DOLLARS (USD) FOR 2024 Systemic indicator Size ........................................................................ Interconnectedness ............................................... Total exposures ............................................................................... Intra-financial system assets ........................................................... Intra-financial system liabilities ........................................................ Securities outstanding ..................................................................... Payments activity ............................................................................ Assets under custody ...................................................................... Underwritten transactions in debt and equity markets ................... Notional amount of over-the-counter (OTC) derivatives ................. Trading and available-for-sale (AFS) securities .............................. Level 3 assets ................................................................................. Cross-jurisdictional claims ............................................................... Cross-jurisdictional liabilities ........................................................... Substitutability ........................................................ Complexity ............................................................. Cross-jurisdictional activity .................................... Authority: 12 U.S.C. 248(a), 321–338a, 481–486, 1462a, 1467a, 1818, 1828, 1831n, 1831o, 1831p–l, 1831w, 1835, 1844(b), 1851, 3904, 3906–3909, 4808, 5365, 5368, 5371. By order of the Board of Governors of the Federal Reserve System, acting through the Director of Supervision and Regulation under delegated authority. Ann E. Misback, Secretary of the Board. [FR Doc. 2024–29981 Filed 12–17–24; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Agency for Healthcare Research and Quality Notice of Meetings Agency for Healthcare Research and Quality (AHRQ), Department of Health and Human Services (HHS). ACTION: Notice of five AHRQ subcommittee meetings. AGENCY: The subcommittees listed below are part of AHRQ’s Health Services Research Initial Review Group (IRG) Committee. Grant applications are SUMMARY: khammond on DSK9W7S144PROD with NOTICES Aggregate global indicator amount (in USD) Category 3 The data used by the Board are available on the BCBS website at https://www.bis.org/bcbs/gsib/ denominators.htm. 4 12 CFR 217.404(b)(1)(i)(B); see also 80 FR 49082, 49086–87 (August 14, 2015). In addition, the Board VerDate Sep<11>2014 18:09 Dec 17, 2024 Jkt 265001 to be reviewed and discussed at these meetings. Each subcommittee meeting will be closed to the public. DATES: See below for dates of meetings: 1. Healthcare Safety and Quality Improvement Research (HSQR). Date: February 5–6, 2025. 2. Healthcare Effectiveness and Outcomes Research (HEOR). Date: February 5–6, 2025. 3. Health System and Value Research (HSVR). Date: February 13–14, 2025. 4. Healthcare Research Training (HCRT). Date: February 27–28, 2025. 5. Healthcare Information Technology Research (HITR). Date: February 27–28, 2025. ADDRESSES: Agency for Healthcare Research and Quality (Virtual Review), 5600 Fishers Lane, Rockville, Maryland 20857. FOR FURTHER INFORMATION CONTACT: (to obtain a roster of members, agenda or minutes of the non-confidential portions of the meetings.)Jenny Griffith, Committee Management Officer, Division of Policy, Coordination and Analysis, Office of Extramural Research Education and Priority Populations, Agency for Healthcare Research and Quality (AHRQ), 5600 Fishers Lane, maintains the GSIB Framework Denominators on its website, available at https:// www.federalreserve.gov/supervisionreg/basel/ denominators.htm. PO 00000 Frm 00058 Fmt 4703 Sfmt 9990 $115,205,051,188,518 11,253,226,663,114 11,388,383,441,235 19,247,590,871,111 3,527,103,136,881,927 219,479,268,261,988 7,962,804,019,185 733,514,990,056,729 4,278,831,961,372 803,127,442,989 28,416,427,492,687 23,524,643,383,930 Rockville, Maryland 20857, telephone (301) 427–1557. In accordance with the Federal Advisory Committee Act, 5 U.S.C. 1009(a)(2), AHRQ announces meetings of the above-listed scientific peer review groups, which are subcommittees of AHRQ’s Health Services Research Initial Review Group Committee. The subcommittee meetings will be closed to the public in accordance with the provisions set forth in 5 U.S.C. 1009(d), 5 U.S.C. 552b(c)(4), and 5 U.S.C. 552b(c)(6). The grant applications and the discussions could disclose confidential trade secrets or commercial property such as patentable material, and personal information concerning individuals associated with the grant applications, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. Agenda items for these meetings are subject to change as priorities dictate. SUPPLEMENTARY INFORMATION: Dated: December 12, 2024. Marquita Cullom, Associate Director. [FR Doc. 2024–29969 Filed 12–17–24; 8:45 am] BILLING CODE 4160–90–P 5 Foreign exchange rates provided by the BCBS. Available at https://www.bis.org/bcbs/gsib/ reporting_instructions.htm. E:\FR\FM\18DEN1.SGM 18DEN1

Agencies

[Federal Register Volume 89, Number 243 (Wednesday, December 18, 2024)]
[Notices]
[Pages 102908-102909]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-29981]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1863]


Regulation Q; Regulatory Capital Rule: Risk-Based Capital 
Surcharges for Global Systemically Important Bank Holding Companies

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Board is providing notice of the 2024 aggregate global 
indicator amounts, as required under the Board's rule regarding risk-
based capital surcharges for global systemically important bank holding 
companies.

DATES:  December 18, 2024.

FOR FURTHER INFORMATION CONTACT: Anna Lee Hewko, Associate Director, 
(202) 250-1577, Brian Chernoff, Manager, (202) 731-8914, Alexander 
Jiron, Senior Financial Institution Policy Analyst II, (202) 450-7350, 
or Aakash Jani, Senior Financial Institution Policy Analyst I, (202) 
941-8305, Division of Supervision and Regulation; or Jay Schwarz, 
Deputy Associate General Counsel, (202) 452-2970, Mark Buresh, Senior 
Special Counsel, (202) 499-0261, Jonah Kind, Senior Counsel, (202) 309-
5287, or David Imhoff, Senior Attorney (202) 834-3222, Legal Division. 
Board of Governors of the Federal Reserve System, 20th and C NW, 
Washington, DC 20551. For the hearing impaired and users of 
Telecommunications Device for the Deaf (TDD) and TTY-TRS, please call 
711 from any telephone, anywhere in the United States.

SUPPLEMENTARY INFORMATION: The Board's framework for determining risk-
based capital surcharges for global systemically important bank holding 
companies (GSIB surcharge rule) establishes a methodology to identify 
global systemically important bank holding companies (GSIBs) in the 
United States based on indicators that are correlated with systemic 
importance.\1\ Under the GSIB surcharge rule, a firm must calculate its 
GSIB score using a specific formula (method 1). Method 1 uses five 
equally weighted categories that are correlated with systemic 
importance--size, interconnectedness, cross-jurisdictional activity, 
substitutability, and complexity--and subdivided into twelve systemic 
indicators.
---------------------------------------------------------------------------

    \1\ See 12 CFR 217.402, 217.404.
---------------------------------------------------------------------------

    A firm divides its own measure of each systemic indicator by an 
aggregate global indicator amount. A firm's method 1 score is the sum 
of its weighted systemic indicator scores expressed in basis points. A 
firm that calculates a method 1 score of 130 basis points or more is 
identified as a GSIB under the GSIB surcharge rule. The GSIB surcharge 
for a firm is the higher of the GSIB surcharge determined under method 
1 and a second method, method 2, which is calculated based on measures 
of size, interconnectedness, cross-jurisdictional activity, complexity, 
and the firm's reliance on short-term wholesale funding.\2\
---------------------------------------------------------------------------

    \2\ Method 2 uses similar inputs to those used in method 1 but 
replaces the substitutability category with a measure of a firm's 
use of short-term wholesale funding. In addition, method 2 is 
calibrated differently from method 1. See 12 CFR 217.405.
---------------------------------------------------------------------------

    The aggregate global indicator amounts used in the score 
calculation

[[Page 102909]]

under method 1 are based on data collected by the Basel Committee on 
Banking Supervision (BCBS). The BCBS amounts are determined based on 
the sum of the systemic indicator amounts as reported by the 75 largest 
U.S. and foreign banking organizations as measured by the BCBS, and any 
other banking organization that the BCBS includes in its sample total 
for that year. The BCBS publicly releases these amounts, denominated in 
euros, each year.\3\ Pursuant to the GSIB surcharge rule, the Board 
publishes the aggregate global indicator amounts each year as 
denominated in U.S. dollars using the euro-dollar exchange rate 
provided by the BCBS.\4\ Specifically, to determine the 2024 aggregate 
global indicator amounts, the Board uses the year-end 2023 euro-
denominated indicator amounts published by the BCBS and multiplies each 
of the euro-denominated indicator amounts by 1.105, the euro to U.S. 
dollar spot exchange rate on December 31, 2023.\5\
---------------------------------------------------------------------------

    \3\ The data used by the Board are available on the BCBS website 
at https://www.bis.org/bcbs/gsib/denominators.htm.
    \4\ 12 CFR 217.404(b)(1)(i)(B); see also 80 FR 49082, 49086-87 
(August 14, 2015). In addition, the Board maintains the GSIB 
Framework Denominators on its website, available at https://www.federalreserve.gov/supervisionreg/basel/denominators.htm.
    \5\ Foreign exchange rates provided by the BCBS. Available at 
https://www.bis.org/bcbs/gsib/reporting_instructions.htm.
---------------------------------------------------------------------------

    The aggregate global indicator amounts expressed in U.S. dollars 
for purposes of the 2024 method 1 score calculation under Sec.  
217.404(b)(1)(i)(B) of the GSIB surcharge rule are:

                        Aggregate Global Indicator Amounts in U.S. Dollars (USD) for 2024
----------------------------------------------------------------------------------------------------------------
                                                                                             Aggregate global
                    Category                               Systemic indicator              indicator amount (in
                                                                                                   USD)
----------------------------------------------------------------------------------------------------------------
Size...........................................  Total exposures.......................     $115,205,051,188,518
Interconnectedness.............................  Intra-financial system assets.........       11,253,226,663,114
                                                 Intra-financial system liabilities....       11,388,383,441,235
                                                 Securities outstanding................       19,247,590,871,111
Substitutability...............................  Payments activity.....................    3,527,103,136,881,927
                                                 Assets under custody..................      219,479,268,261,988
                                                 Underwritten transactions in debt and         7,962,804,019,185
                                                  equity markets.
Complexity.....................................  Notional amount of over-the-counter         733,514,990,056,729
                                                  (OTC) derivatives.
                                                 Trading and available-for-sale (AFS)          4,278,831,961,372
                                                  securities.
                                                 Level 3 assets........................          803,127,442,989
Cross-jurisdictional activity..................  Cross-jurisdictional claims...........       28,416,427,492,687
                                                 Cross-jurisdictional liabilities......       23,524,643,383,930
----------------------------------------------------------------------------------------------------------------

    Authority: 12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 1818, 
1828, 1831n, 1831o, 1831p-l, 1831w, 1835, 1844(b), 1851, 3904, 3906-
3909, 4808, 5365, 5368, 5371.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of Supervision and Regulation 
under delegated authority.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2024-29981 Filed 12-17-24; 8:45 am]
BILLING CODE 6210-01-P
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