Federal Reserve System – Federal Register Recent Federal Regulation Documents

Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes to modify an existing system of records entitled BGFRS-20, ``FRBSurvey of Consumer Finances'' to account for changes necessitated by title III of the Foundations for Evidence-Based Policymaking Act of 2018 (Evidence Act). BGFRS-20 is a system of records that covers the Survey of Consumer Finances (SCF), which is a voluntary triennial survey of a representative sample of households that collects information on household finances, income, employment, attitudes and demographics.

In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On February 21, 2023, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051), and the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002), all of which are currently approved collections of information. These proposed revisions to the Call Reports and the FFIEC 002 result from the 2022 statutorily mandated review of the Call Reports, Call Report process revisions, and reporting of certain Federal Home Loan Mortgage Corporation and similar securitizations.

The Board, FDIC, and OCC (collectively, the agencies) are issuing final guidance on managing risks associated with third-party relationships. The final guidance offers the agencies' views on sound risk management principles for banking organizations when developing and implementing risk management practices for all stages in the life cycle of third-party relationships. The final guidance states that sound third-party risk management takes into account the level of risk, complexity, and size of the banking organization and the nature of the third-party relationship. The agencies are issuing this joint guidance to promote consistency in supervisory approaches; it replaces each agency's existing general guidance on this topic and is directed to all banking organizations supervised by the agencies.

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, with revision, the Registration of Mortgage Loan Originators (CFPB G; OMB No. 7100-0328).

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Filings Related to the Gramm-Leach-Bliley Act (FR 4010, FR 4011, FR 4012, FR 4017, FR 4019, FR 4023; OMB No. 7100-0292).

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Compensation and Salary Surveys (FR 29; OMB No. 7100-0290).

The Board of Governors of the Federal Reserve System (``Board'') has adopted final amendments to its Regulation D to revise the rate of interest paid on balances (``IORB'') maintained at Federal Reserve Banks by or on behalf of eligible institutions. The final amendments specify that IORB is 5.15 percent, a 0.25 percentage point increase from its prior level. The amendment is intended to enhance the role of IORB in maintaining the federal funds rate in the target range established by the Federal Open Market Committee (``FOMC'' or ``Committee'').