Notice2021-21597
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, with revision, the Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322).
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 54974-54975]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-21597]
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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
Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322).
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: The Supervisory and Regulatory Survey.
Agency form number: FR 3052.
OMB control number: 7100-0322.
Frequency: On occasion.
Respondents: May include bank holding companies, state member
banks, savings and loan holding companies, intermediate holding
companies, U.S. branches and agencies of foreign banking organizations
(FBOs), Edge Act and agreement corporations, nonbank financial
companies that the Financial Stability Oversight Council has determined
should be supervised by the Board, and the combined domestic operations
of FBOs.
Estimated number of respondents: 5,000.
Estimated average hours per response: 0.5.
Estimated annual burden hours: 60,000.
General description of report: The FR 3052 collects information
from financial institutions specifically tailored to the Federal
Reserve's supervisory, regulatory, and operational responsibilities.
The Board utilizes the survey process, as needed, to collect
information on specific issues that affect its decision making. The
principal value of the FR 3052 is the flexibility it provides the
Federal Reserve to respond quickly to the need for data due to
unanticipated economic, financial, supervisory, or regulatory
developments. The Board cannot predict what specific information will
be needed, but such needs are generally very time-sensitive. Because
the relevant questions may change with each survey, there is no fixed
reporting form. Past surveys have collected information related to
energy lending exposure, cloud-based data exchange services, regulatory
capital, Comprehensive Capital Analysis and Review, operational risk
loss event history, transactions by government securities dealers, and
small debit card issuers.
Written qualitative questions or questionnaires may include
categorical questions, yes-no questions, ordinal questions, and open-
ended questions. Written quantitative surveys may include dollar
amounts, percentages, numbers of items, interest rates, and other such
information. Institutions might also be asked to provide copies of
existing documents (for example, pertaining to practices and
performances for a particular business activity). Before conducting a
survey, the Board reviews any information to be collected to determine
if the information is available by other means.
Legal authorization and confidentiality: The FR 3052 is authorized
by a number of statutes authorizing the Board to require reports of
condition from institutions subject to its supervision. These include
section 9 of the Federal Reserve Act (FRA),\1\ section 5 of the Bank
Holding Company Act,\2\ section 10 of the Home Owners' Loan Act,\3\
section 7 of the International Banking Act (IBA),\4\ section 8 of the
IBA,\5\ sections 25 and 25A of the FRA,\6\ and section 161 of the Dodd-
Frank Wall Street Reform and Consumer Protection Act.\7\ Survey
submissions under the FR 3052 are voluntary.
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\1\ 12 U.S.C. 324 (requiring state member banks to make reports
of condition ``in such form and [containing] such information as the
Board of Governors of the Federal Reserve System may require'').
\2\ 12 U.S.C. 1844(c)(1)(A) (authorizing the Board to require a
bank holding company and any subsidiary thereof to submit reports
regarding financial condition and compliance).
\3\ 12 U.S.C. 1467a(b)(2) (authorizing the Board to require a
savings and loan holding company and any subsidiary thereof to
submit reports containing such information concerning the operation
of the company or its subsidiaries as the Board may require).
\4\ 12 U.S.C. 3105(c)(2) (subjecting each branch or agency of a
foreign bank to the provisions of 12 U.S.C. 324 requiring reports of
financial condition as if it were a state member bank).
\5\ 12 U.S.C. 3106(a) (generally subjecting foreign banking
organizations to the Bank Holding Company Act).
\6\ 12 U.S.C. 602 and 625 (requiring Edge and agreement
corporations to ``make reports to the Board of Governors of the
Federal Reserve System at such times and in such form as it may
require'').
\7\ 12 U.S.C. 5361 (authorizing the Board to require reports of
financial condition and compliance from nonbank financial companies
subject to the Board's supervision).
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The questions asked on each survey will vary. The Board's ability
to keep confidential responses to the FR 3052 must therefore be
determined on a case-by-case basis. Much of the information collected
is likely to constitute nonpublic commercial or financial information,
which is both customarily and actually treated as private by the
respondent, and may be kept confidential by the Board pursuant to
exemption 4 of the Freedom of Information Act (FOIA).\8\ 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.\9\ Responses to the FR 3052 are
tabulated and summarized at the Board. This aggregate information is
not considered confidential, and aggregate survey information may be
cited in published material such as Board studies or working papers,
professional journals, the Federal Reserve Bulletin, testimony and
reports to the Congress, or other vehicles.
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\8\ 5 U.S.C. 552(b)(4).
\9\ 5 U.S.C. 552(b)(8).
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[[Page 54975]]
Current actions: On May 26, 2021, the Board published a notice in
the Federal Register (86 FR 28344) requesting public comment for 60
days on the extension, without revision, of the Supervisory and
Regulatory Survey (FR 3052). The comment period for this notice expired
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on July 26, 2021. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, September 29,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-21597 Filed 10-4-21; 8:45 am]
BILLING CODE 6210-01-P
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