Notice2022-15901
Proposed Agency Information Collection Activities; Comment Request
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
July 26, 2022
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Reporting and Disclosure Requirements of Community Reinvestment Act (CRA)-Related Agreements (Regulation G) (FR G; OMB No. 7100-0299).
Full Text
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<title>Federal Register, Volume 87 Issue 142 (Tuesday, July 26, 2022)</title>
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[Federal Register Volume 87, Number 142 (Tuesday, July 26, 2022)]
[Notices]
[Pages 44392-44393]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-15901]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Reporting and Disclosure Requirements of Community
Reinvestment Act (CRA)-Related Agreements (Regulation G) (FR G; OMB No.
7100-0299).
DATES: Comments must be submitted on or before September 26, 2022.
ADDRESSES: You may submit comments, identified by FR G, by any of the
following methods:
<bullet> Agency website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments at <a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#85f7e0e2f6abe6eae8e8e0ebf1f6c5e3e0e1e0f7e4e9f7e0f6e0f7f3e0abe2eaf3"><span class="__cf_email__" data-cfemail="32405755411c515d5f5f575c4641725457565740535e405741574044571c555d44">[email protected]</span></a>. Include the OMB
number or FR number in the subject line of the message.
<bullet> FAX: (202) 452-3819 or (202) 452-3102.
<bullet> Mail: Federal Reserve Board of Governors, Attn: Ann E.
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St. NW,
Washington, DC 20551.
All public comments are available from the Board's website at
<a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a> as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any confidential
business information, identifying information, or contact information.
Public comments may also be viewed electronically or in paper in Room
M-4365A, 2001 C St. NW, Washington, DC 20551, between 9:00 a.m. and
5:00 p.m. on weekdays. For security reasons, the Board requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 452-3684. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
Additionally, commenters may send a copy of their comments to the
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.
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.
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. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement, and other documentation, will be
made available on the 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
versions of these documents will be made available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if approved.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board's estimate of the burden of the
proposed information collection, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Collection title: Reporting and Disclosure Requirements of
Community Reinvestment Act (CRA)-Related Agreements.
Collection identifier: FR G.
OMB control number: 7100-0299.
Frequency: Annually and quarterly.
Respondents: State member banks and their subsidiaries; bank
holding companies; savings and loan holding companies; affiliates of
bank holding companies and savings and loan holding companies, other
than banks, savings associations, and subsidiaries of banks and savings
associations; and nongovernmental entities or persons (NGEPs) that
enter into covered agreements with any of the aforementioned entities.
Estimated number of respondents: Reporting: insured depository
institutions (IDIs) and affiliates--Copy of agreements to agency, 1;
List of agreements to agency, 1; Annual report, 1; Filing NGEP annual
report, 1; Reporting: NGEP--Copy of agreements to agency, 2, Annual
report, 2; Disclosure: IDI and affiliates--Covered agreements to
public, 1, Agreements relating to activities of CRA affiliates, 1; and
Disclosure: NGEP Covered agreements to public, 2.
Estimated average hours per response: Reporting: IDI and
affiliates--Copy of agreements to agency, 1; List of
[[Page 44393]]
agreements to agency, 1; Annual report, 4; Filing NGEP annual report,
1; Reporting: NGEP--Copy of agreements to agency, 1, Annual report, 4;
Disclosure: IDI and affiliates--Covered agreements to public, 1,
Agreements relating to activities of CRA affiliates, 1; and Disclosure:
NGEP Covered agreements to public, 1.
Estimated annual burden hours: Reporting: IDI and affiliates--Copy
of agreements to agency, 2; List of agreements to agency, 2; Annual
report, 4; Filing NGEP annual report, 1; Reporting: NGEP--Copy of
agreements to agency, 2, Annual report, 8; Disclosure: IDI and
affiliates--Covered agreements to public, 2, Agreements relating to
activities of CRA affiliates, 2; and Disclosure: NGEP Covered
agreements to public, 2.
General description of report: Regulation G--Disclosure and
Reporting of CRA-Related Agreements \1\ implements section 711 of the
Gramm-Leach-Bliley Act (GLBA),\2\ which requires IDIs, affiliates of
IDIs, and NGEPs to disclose written agreements entered into in
connection with fulfillment of the CRA.\3\
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\1\ 12 CFR part 207.
\2\ Codified at 12 U.S.C. 1831y.
\3\ 12 U.S.C. 2901 et seq.
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Legal authorization and confidentiality: The disclosure and
reporting requirements of Regulation G are authorized pursuant to the
Board's authority to prescribe regulations to carry out the purposes of
section 711 of GLBA.\4\ The FR G disclosure and reporting requirements
are mandatory.
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\4\ 12 U.S.C. 1831y(h)(1).
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The disclosure and reporting requirements of section 711 and
Regulation G require relevant parties to disclose covered agreements to
the public.\5\ However, as explained in the preamble to Regulation G,
an entity subject to Regulation G may submit separate public and
complete versions of its covered agreements to the Board with a request
for confidential treatment for the complete version.\6\ As stated in
the preamble, the Board would release only the public version unless it
received a request under the Freedom of Information Act (FOIA) for the
entirety of the CRA-related agreement.\7\
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\5\ The Board noted in the preamble to Regulation G that section
711 would require disclosure of some types of information that an
agency might normally withhold from disclosure under the FOIA and
that the Board would not keep information confidential under the
FOIA that a party would be required to disclose under section 711.
Disclosure and Reporting of CRA-Related Agreements, 66 FR 2052,
2066-2067 (Jan. 10, 2001).
\6\ Id.
\7\ Id.
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Regulation G states that in responding to a request for a covered
agreement from an individual or entity under the public disclosure
provisions of section 711, an NGEP, insured depository institution, or
affiliate may withhold from the public information that the party
believes the relevant supervisory agency could withhold from disclosure
under the FOIA.\8\ Information contained in covered agreements may be
exempt from disclosure under exemption 4 of the FOIA, which protects
public commercial or financial information, which is both customarily
and actually treated as private by the respondent.\9\ Information
contained in covered agreements may also be exempt from disclosure
under exemption 6 of the FOIA, which protects personnel and medical
files the disclosure of which would constitute a clearly unwarranted
invasion of personal privacy, \10\ and under exemption 8 of the FOIA,
which protects information contained in ``examination, operating, or
condition reports'' obtained in the bank supervisory process.\11\
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\8\ 12 CFR 207.6(b)(2).
\9\ 5 U.S.C. 552(b)(4).
\10\ 5 U.S.C. 552(b)(6).
\11\ 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, July 20, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-15901 Filed 7-25-22; 8:45 am]
BILLING CODE 6210-01-P
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