Notice2022-25969
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
November 29, 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 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 228 (Tuesday, November 29, 2022)</title>
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[Federal Register Volume 87, Number 228 (Tuesday, November 29, 2022)]
[Notices]
[Pages 73303-73304]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-25969]
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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 and Disclosure Requirements of Community Reinvestment Act
(CRA)-Related Agreements (Regulation G) (FR G; OMB No. 7100-0299).
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#0e607b666f206b62636f69667c6f6c674e687c6c20696178"><span class="__cf_email__" data-cfemail="4628332e2768232a2b27212e3427242f0620342468212930">[email protected]</span></a>, (202) 452-3884.
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
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
[[Page 73304]]
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 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 collection: 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
nonpublic 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 information
about individuals in 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).
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Current actions: On July 26, 2022, the Board published an initial
notice in the Federal Register (87 FR 44392) requesting public comment
for 60 days on the extension, without revision, of the FR G. The
comment period for this notice expired on September 26, 2022. The Board
did not receive any comments.
Board of Governors of the Federal Reserve System, November 22,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-25969 Filed 11-28-22; 8:45 am]
BILLING CODE 6210-01-P
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