Notice2021-21596
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 5, 2021
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Policy Impact Survey (FR 3075; OMB No. 7100-0362).
Full Text
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<title>Federal Register, Volume 86 Issue 190 (Tuesday, October 5, 2021)</title>
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[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 54973-54974]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-21596]
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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, without revision, the
Policy Impact Survey (FR 3075; OMB No. 7100-0362).
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, Washington, DC 20551, (202) 452-3829.
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 <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents are also available on the Federal
Reserve Board's public website at <a href="https://www.federalreserve.gov/apps/reportforms/review.aspx">https://www.federalreserve.gov/apps/reportforms/review.aspx</a> 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, Without Revision, of the Following Information Collection
Report title: Policy Impact Survey.
Agency form number: FR 3075.
OMB control number: 7100-0362.
Frequency: On occasion.
Respondents: Bank holding companies, savings and loan holding
companies, any nonbank financial company that the Financial Stability
Oversight Council has determined should be supervised by the Board, and
the combined domestic operations of foreign banking organizations.
Estimated number of respondents: 14.
Estimated average hours per response: 700.
Estimated annual burden hours: 68,600.
General description of report: This survey collects information
from certain types of institutions regulated by the Board in order to
assess the effects of proposed, pending, or recently adopted policy
changes at the domestic and international levels. The Board uses the
survey to collect information used for certain quantitative impact
studies (QISs) \1\ sponsored by financial stability bodies such as the
Basel Committee on Banking Supervision (BCBS) and the Financial
Stability Board. Recent collections have included the Basel III
monitoring exercise, which monitors the global impact of the Basel III
framework,\2\ the global systemically important bank (G-SIB) exercise,
which assesses firms' systemic risk profiles,\3\ and a survey of the
domestic systemic risk footprint of large foreign banking
organizations. Since the collected data may change from survey to
survey, there is no fixed reporting form.
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\1\ A QIS is a survey of financial institutions that allows
supervisors to assess the quantitative impact of policy changes.
\2\ For more information on the Basel III monitoring exercise,
including recent examples of QISs sponsored by BCBS and conducted by
the Board, see <a href="http://www.bis.org/bcbs/qis/">www.bis.org/bcbs/qis/</a>.
\3\ For more information on the G-SIB exercise, see <a href="http://www.bis.org/bcbs/gsib/">www.bis.org/bcbs/gsib/</a>.
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Legal authorization and confidentiality: Information collected
under the FR 3075 is authorized by the Board's reporting authorities,
which are located in section 5(c) of the Bank Holding Company Act \4\
for bank holding companies and their subsidiaries, section 10(b)(2) of
the Home Owners' Loan Act \5\ for savings and loan holding companies
and their subsidiaries, section 161(a) of the Dodd-Frank Wall Street
Reform and Consumer Protection Act \6\ for nonbank financial companies
supervised by the Board, section 8(a) of the International Banking Act
and section 5(c) of the Bank Holding Company Act \7\ for the combined
domestic operations of certain foreign banking organizations, section 9
of the Federal Reserve Act \8\ for state member banks, sections 25 and
25A of the Federal Reserve Act \9\ for Edge and agreement corporations,
and section 7(c)(2) of the International Banking Act and section 7(a)
of the Federal Deposit Insurance Act \10\ for U.S. branches and
agencies of foreign banks. Response to the FR 3075 is voluntary.
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\4\ 12 U.S.C. 1844(c).
\5\ 12 U.S.C. 1467a(b)(2).
\6\ 12 U.S.C. 5361(a).
\7\ 12 U.S.C. 3106(a) and 1844(c).
\8\ 12 U.S.C. 324.
\9\ 12 U.S.C. 602 and 625.
\10\ 12 U.S.C. 3105(c)(2) and 1817(a).
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The questions asked on each survey will vary. The Board's ability
to keep confidential responses to the FR 3075 must therefore be
determined on a case-by-case basis. To the extent responses include
nonpublic commercial or financial information, which is both
customarily and actually treated as private by the respondent, such
information may be kept confidential pursuant to exemption 4 of the
Freedom of Information Act (FOIA).\11\ Some survey responses may also
contain information contained in or related to an examination of a
financial institution, which may be kept confidential under exemption 8
of the FOIA.\12\ To the extent a respondent submits personal, medical,
or similar files, the disclosure of which would constitute an
unwarranted invasion of privacy, the respondent may request
confidential treatment pursuant to exemption 6 of the FOIA.\13\
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\11\ 5 U.S.C. 552(b)(4).
\12\ 5 U.S.C. 552(b)(8).
\13\ 5 U.S.C. 552(b)(6).
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Aggregate survey information from the FR 3075 is not considered
confidential and may be cited in published material such as Board
studies or working papers, proposed or final rules, professional
journals, the Federal Reserve Bulletin, testimony and reports to the
Congress, or other vehicles.
Current actions: On May 26, 2021, the Board published a notice in
the Federal Register (86 FR 28345) requesting public comment for 60
days on the extension, without revision, of the Policy Impact Survey,
FR 3075. The comment period for this notice expired on July 26, 2021.
The Board did not receive any comments.
[[Page 54974]]
Board of Governors of the Federal Reserve System, September 29,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-21596 Filed 10-4-21; 8:45 am]
BILLING CODE 6210-01-P
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