Notice2024-09020
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 the Market Risk Capital Rule (FR 4201; OMB No. 7100-0314).
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 32429-32430]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09020]
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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
the Market Risk Capital Rule (FR 4201; OMB No. 7100-0314).
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#543a213c357a31383935333c2635363d143226367a333b22"><span class="__cf_email__" data-cfemail="fa948f929bd49f96979b9d92889b9893ba9c8898d49d958c">[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: Market Risk Capital Rule (see the current actions
section for information about a change to the collection title and
collection identifier).
Collection identifier: FR 4201.
OMB control number: 7100-0314.
Dates: The revisions are applicable as of April 26, 2024.
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
[[Page 32430]]
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.
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/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 4201.
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Current actions: On December 4, 2023, the Board published a notice
in the Federal Register (88 FR 84141) requesting public comment for 60
days on the extension, with revision, of the FR 4201. The Board
proposed revising the FR 4201 to account for a recordkeeping
requirement in section 217.203(b)(2) of Regulation Q that had not been
previously cleared by the Board. The comment period for this notice
expired on February 2, 2024. The Board did not receive any comments.
The revisions will be implemented as proposed. This information
collection is currently titled ``Market Risk Capital Rule'' with a
collection identifier of ``FR 4201.'' As part of this clearance, the
collection title will be changed to ``Reporting, Recordkeeping, and
Disclosure Requirements Associated with Regulation Q (Market Risk
Capital Rule)'' and the collection identifier will be updated to ``FR
Q-2.'' The purpose of this non-substantive change is to implement
consistent nomenclature for information collections contained within a
rule. This change would not modify the reporting, recordkeeping, or
disclosure requirements in any way.
Board of Governors of the Federal Reserve System, April 23,
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-09020 Filed 4-25-24; 8:45 am]
BILLING CODE P
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