Notice2024-09018
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 26, 2024
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, with revision, the Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation WW (FR WW; OMB No. 7100-0367).
Full Text
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<title>Federal Register, Volume 89 Issue 82 (Friday, April 26, 2024)</title>
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[Federal Register Volume 89, Number 82 (Friday, April 26, 2024)]
[Notices]
[Pages 32430-32431]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09018]
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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, with revision, the
Reporting, Recordkeeping, and Disclosure Requirements Associated with
Regulation WW (FR WW; OMB No. 7100-0367).
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#28465d4049064d4445494f405a494a41684e5a4a064f475e"><span class="__cf_email__" data-cfemail="a7c9d2cfc689c2cbcac6c0cfd5c6c5cee7c1d5c589c0c8d1">[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 (which contain more detailed
information about the information collections and burden estimates than
this notice), 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/reportingforms/review">https://www.federalreserve.gov/apps/reportingforms/review</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, With Revision, of the Following Information Collection
Collection title: Reporting, Recordkeeping, and Disclosure
Requirements Associated with Regulation WW.
Collection identifier: FR WW.
OMB control number: 7100-0367.
Dates: The revisions are applicable as of April 26, 2024.
General description of collection: The Board, Federal Deposit
Insurance Corporation (FDIC), and Office of the Comptroller of the
Currency (OCC) (collectively, the agencies) implemented a liquidity
coverage ratio (LCR) requirement and a net stable funding ratio (NSFR)
requirement, consistent with the international liquidity standards
published by the Basel Committee on Banking Supervision (BCBS), for
large and internationally active banking organizations. For the Board,
these standards are implemented through Regulation WW--Liquidity Risk
Measurement, Standards, and Monitoring (12 CFR part 249). The NSFR and
LCR requirements in Regulation WW apply to certain large state member
banks, covered depository institution holding companies, and U.S.
intermediate holding companies of foreign banking organizations, as
well as covered nonbank companies (together, covered companies). The
reporting, recordkeeping, and disclosure requirements contained in FR
WW are used to monitor covered companies' compliance with the LCR and
NSFR.
Frequency: The reporting requirements of the FR WW information
collection are submitted on an event-generated basis. The recordkeeping
requirements of the FR WW information collection are both event-
generated and ongoing. The disclosure requirements of the FR WW
information collection must be met on a quarterly basis (relating to
the LCR) as well as every second and fourth calendar quarter (relating
to the NSFR) and must remain publicly available for at least five years
after the initial disclosure date.
Respondents: The FR WW panel comprises covered companies, as
defined above. Certain requirements apply only to covered holding and
nonbank companies.
[[Page 32431]]
Total estimated number of respondents: 21.
Total estimated change in burden: (446).
Total estimated annual burden hours: 2,483.\1\
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\1\ 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/review">https://www.federalreserve.gov/apps/reportingforms/review</a>. On the page displayed at the link, you can
find the OMB Supporting Statement by referencing the collection
identifier, FR WW.
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Current actions: On December 5, 2023, the Board published a notice
in the Federal Register (88 FR 84328) requesting public comment for 60
days on the extension, with revision, of the FR WW. The Board proposed
to revise the FR WW to account for three recordkeeping requirements in
Regulation WW, contained in section 249.4(a) and sections 249.22(a)(1)
and (a)(4), which had not been previously cleared by the Board under
the PRA. In addition, the Board revised the estimated hours per
response for several requirements which lead to a net decrease in the
total burden hours. The comment period for this notice expired on
February 5, 2024. The Board did not receive any comments. The revisions
will be implemented as proposed.
Board of Governors of the Federal Reserve System, April 23,
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-09018 Filed 4-25-24; 8:45 am]
BILLING CODE 6210-01-P
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