Notice2022-25966
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
November 29, 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 Annual Daylight Overdraft Capital Report for U.S. Branches and Agencies of Foreign Banks (FR 2225; OMB No. 7100-0216).
Full Text
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<title>Federal Register, Volume 87 Issue 228 (Tuesday, November 29, 2022)</title>
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[Federal Register Volume 87, Number 228 (Tuesday, November 29, 2022)]
[Notices]
[Pages 73307-73308]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-25966]
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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 Annual Daylight Overdraft Capital Report for U.S.
Branches and Agencies of Foreign Banks (FR 2225; OMB No. 7100-0216).
DATES: Comments must be submitted on or before January 30, 2023.
ADDRESSES: You may submit comments, identified by FR 2225, 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#43312624306d202c2e2e262d3730032526272631222f312630263135266d242c35"><span class="__cf_email__" data-cfemail="04766163772a676b6969616a70774462616061766568766177617672612a636b72">[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, <a href="/cdn-cgi/l/email-protection#402e3528216e252c2d21272832212229002632226e272f36"><span class="__cf_email__" data-cfemail="b9d7ccd1d897dcd5d4d8ded1cbd8dbd0f9dfcbdb97ded6cf">[email protected]</span></a>, (202)
452-3884.
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: Annual Daylight Overdraft Capital Report for U.S.
Branches and Agencies of Foreign Banks.
Collection identifier: FR 2225.
OMB control number: 7100-0216.
Frequency: Annually.
Respondents: Foreign banking organizations (FBOs) with U.S.
branches or agencies.
Estimated number of respondents: 51.
Estimated average hours per response: 1.
Estimated annual burden hours: 51.
General description of collection: The FR 2225 is required for FBOs
that wish to, and are eligible to, establish a non-zero net debit cap
for their U.S. branches and agencies under the Federal Reserve Policy
on Payment System Risk. The FR 2225 reporting form collects information
needed to identify the respondent and its fiscal year end, and collects
four items to determine its year-end capital and assets for purposes of
daylight overdraft monitoring. Four items, converted into U.S. dollars,
are collected for the capital
[[Page 73308]]
and assets determination: worldwide capital for the reporting FBO (item
1); an adjustment to avoid double counting of capital used by any
direct or indirect subsidiary of the FBO that also has access to
Fedwire and has its own net debit cap (item 2); the FBO's total
daylight overdraft capital base for the U.S. branch and agency family
(item 3), which is used to calculate the net debit cap; and the
reporting FBO's total worldwide assets (item 4).
Legal authorization and confidentiality: This information
collection is authorized pursuant to section 7(a) of the International
Banking Act,\1\ which establishes reserve requirements for U.S.
branches and agencies of foreign banks, and pursuant to section 13(14)
of the Federal Reserve Act (FRA),\2\ which provides that ``each Federal
Reserve bank may receive deposits from, discount paper endorsed by, and
make advances to any branch or agency of a foreign bank in the same
manner and to the same extent that it may exercise such powers with
respect to a member bank if such branch or agency is maintaining
reserves with such Reserve bank pursuant to section 7 of the
International Banking Act of 1978.'' In addition, sections 11(i), 16,
and 19(f) of the FRA,\3\ which permit Reserve Banks to provide payment
services to member banks, provide authority for the collection of the
FR 2225 report in conjunction with the provisions above providing that
Federal Reserve Banks may provide certain services to certain FBOs to
the same extent that it may provide these services to a member bank.
The FR 2225 is required to obtain a benefit, specifically a non-zero
net debit cap.
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\1\ 12 U.S.C. 3105(a).
\2\ 12 U.S.C. 347d.
\3\ 12 U.S.C. 248(i), 248-1, and 464.
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The Board generally does not consider the information collected on
the FR 2225 report to be confidential, and the completed version of
this report generally is made available to the public upon request.
However, in certain instances, specific information collected on an
individual FBO's FR 2225 report may be exempt from disclosure, for
example, pursuant to exemption 4 of the Freedom of Information Act
(FOIA), which protects from public disclosure ``trade secrets and
commercial or financial information obtained from a person [that is]
privileged or confidential.'' \4\ In order to obtain confidential
treatment, a request for confidential treatment must be submitted by
the FBO in writing concurrently with the submission of the FR 2225
report. This written request must identify the specific data for which
confidential treatment is sought and must provide the legal
justification for the confidentiality request, as provided in the
Board's Rules Regarding Availability of Information (12 CFR part 261).
The Federal Reserve will review each request for confidential treatment
on a case-by-case basis to determine if confidential treatment is
appropriate.
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\4\ 5 U.S.C. 552(b)(4).
Board of Governors of the Federal Reserve System, November 22,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-25966 Filed 11-28-22; 8:45 am]
BILLING CODE 6210-01-P
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