Notice2022-07230
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
April 6, 2022
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 Reporting Provisions Associated with Regulation TT (FR TT; OMB No. 7100-0369).
Full Text
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<title>Federal Register, Volume 87 Issue 66 (Wednesday, April 6, 2022)</title>
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[Federal Register Volume 87, Number 66 (Wednesday, April 6, 2022)]
[Notices]
[Pages 19929-19930]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-07230]
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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
Reporting Provisions Associated with Regulation TT (FR TT; OMB No.
7100-0369).
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
[[Page 19930]]
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: Reporting Provisions Associated with Regulation TT.
Agency form number: FR TT.
OMB control number: 7100-0369.
Frequency: On occasion.
Respondents: Bank holding companies (BHCs) and savings and loan
holding companies (SLHCs) and all nonbank financial companies
designated for Board supervision by the Financial Stability Oversight
Council (FSOC).
Estimated number of respondents: 3.
Estimated average hours per response: 40.
Estimated annual burden hours: 120.
General description of report: The Board's Regulation TT--
Supervision and Regulation Assessments of Fees (12 CFR part 246)
implements the second section 11(s) of the Federal Reserve Act
(FRA),\1\ which directs the Board to collect assessments, fees, or
other charges (collectively, assessments) from BHCs and SLHCs that meet
a size threshold and from all nonbank financial companies designated
for Board supervision by the FSOC (collectively, assessed companies) in
an amount equal to the total expenses the Board estimates are necessary
or appropriate to carry out its supervisory and regulatory
responsibilities with respect to such companies. Pursuant to Regulation
TT, the Board issues an annual notice of assessment to each assessed
company. Assessed companies may file a written appeal with the Board
regarding the assessment.\2\
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\1\ 12 U.S.C. 248(s). The second section 11(s) of the Federal
Reserve Act was added by section 318 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act. There are two subsections of
section 11 of the Federal Reserve Act designated as (s). The
provision relating to assessments is described as the ``second''
subsection (s) as it was enacted later in time.
\2\ 12 CFR 246.5(b).
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Legal authorization and confidentiality: The FR TT is authorized
pursuant to the second section 11(s) of the FRA, which requires the
Board to collect the assessments, as described above, and section 11(i)
of the FRA,\3\ which provides that the Board shall make all rules and
regulations necessary to enable the Board to effectively perform the
duties, functions, or services specified in the FRA. The FR TT
reporting provisions are required to obtain a benefit.
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\3\ 12 U.S.C. 248(i).
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An assessed company may request confidential treatment of
information contained in its appeal pursuant to exemption 4 of the
Freedom of Information Act (FOIA), which protects nonpublic commercial
or financial information, which is both customarily and actually
treated as private by the respondent.\4\ Determinations of
confidentiality based on FOIA exemption 4 would be made on a case-by-
case basis.
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\4\ 5 U.S.C. 552(b)(4).
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Current actions: On December 10, 2021, the Board published a notice
in the Federal Register (86 FR 70498) requesting public comment for 60
days on the extension, without revision, of the FR TT. The comment
period for this notice expired on February 8, 2022. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, April 1, 2022.
Ann Misback,
Secretary of the Board.
[FR Doc. 2022-07230 Filed 4-5-22; 8:45 am]
BILLING CODE 6210-01-P
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