Notice2023-26572
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
December 4, 2023
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, with revision, the Market Risk Capital Rule (FR 4201; OMB No. 7100-0314).
Full Text
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<title>Federal Register, Volume 88 Issue 231 (Monday, December 4, 2023)</title>
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[Federal Register Volume 88, Number 231 (Monday, December 4, 2023)]
[Notices]
[Pages 84141-84142]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26572]
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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, with revision,
the Market Risk Capital Rule (FR 4201; OMB No. 7100-0314).
DATES: Comments must be submitted on or before February 2, 2024.
ADDRESSES: You may submit comments, identified by FR 4201, 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#0d7f686a7e236e6260606863797e4d6b6869687f6c617f687e687f7b68236a627b"><span class="__cf_email__" data-cfemail="3e4c5b594d105d5153535b504a4d7e585b5a5b4c5f524c5b4d5b4c485b10595148">[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, except for Federal holidays. For security
reasons, the
[[Page 84142]]
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#83edf6ebe2ade6efeee2e4ebf1e2e1eac3e5f1e1ade4ecf5"><span class="__cf_email__" data-cfemail="c3adb6aba2eda6afaea2a4abb1a2a1aa83a5b1a1eda4acb5">[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 (which contains more detail about
the information collection and burden estimates than this notice), and
other documentation, will be made available on the Board's public
website at <a href="https://www.federalreserve.gov/apps/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</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, With
Revision, the Following Information Collection
Collection title: Market Risk Capital Rule.
Collection identifier: FR 4201.
OMB control number: 7100-0314.
General description of collection: The market risk rule, which
requires banking organizations to hold capital to cover their exposure
to market risk, is a component of the Board's regulatory capital
framework, Regulation Q--Capital Adequacy of Bank Holding Companies,
Savings and Loan Holding Companies, and State Member Banks (12 CFR part
217). The rule includes information collections that permit the Board
to monitor the market risk profile of Board-regulated banking
organizations that have significant market risk. These information
collections provide current statistical data identifying market risk
areas on which to focus onsite and offsite examinations. They also
allow the Board to assess the levels and components of each reporting
institution's risk-based capital requirements for market risk and the
adequacy of the institution's capital under the market risk rule.
Proposed revisions: The Board proposes to revise the FR 4201
information collection to account for a recordkeeping requirement in
section 217.203(b)(2) of Regulation Q that had not been previously
cleared by the Board. Section 217.203(b)(2) requires subject banking
organizations to have a process for prudent valuation of their covered
positions that includes policies and procedures on the valuation of
positions, marking positions to market or to model, independent price
verification, and valuation adjustments or reserves. The valuation
process must consider, as appropriate, unearned credit spreads, close-
out costs, early termination costs, investing and funding costs,
liquidity, and model risk.
Frequency: Annual, quarterly, and on occasion.
Respondents: Bank holding companies, covered savings and loan
holding companies,\1\ U.S. intermediate holding companies of foreign
banking organizations, and state member banks (collectively, banking
organizations) that meet certain risk thresholds. The market risk rule
applies to any such banking organization with aggregate trading assets
and trading liabilities equal to (1) 10 percent or more of quarter-end
total assets or (2) $1 billion or more.
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\1\ For the definition of ``covered savings and loan holding
company,'' see 12 CFR 217.2.
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Total estimated number of respondents: 37.
Total estimated change in burden: 592.
Total estimated annual burden hours: 36,236.\2\
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\2\ More detailed information regarding this collection,
including more detailed burden estimates, can be found in the OMB
Supporting Statement posted at <a href="https://www.federalreserve.gov/apps/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</a>. On the page displayed at the link, you
can find the OMB Supporting Statement by referencing the collection
identifier, FR 4201.
Board of Governors of the Federal Reserve System, November 29,
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-26572 Filed 12-1-23; 8:45 am]
BILLING CODE 6210-01-P
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