Notice2024-12556
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
June 7, 2024
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 Consolidated Report of Condition and Income for Edge and Agreement Corporations (FR 2886b; OMB No. 7100-0086).
Full Text
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<title>Federal Register, Volume 89 Issue 111 (Friday, June 7, 2024)</title>
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[Federal Register Volume 89, Number 111 (Friday, June 7, 2024)]
[Notices]
[Pages 48644-48645]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-12556]
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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 Consolidated Report of Condition and Income for Edge and Agreement
Corporations (FR 2886b; OMB No. 7100-0086).
DATES: Comments must be submitted on or before August 6, 2024.
ADDRESSES: You may submit comments, identified by FR 2886b, 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#fe8c9b998dd09d9193939b908a8dbe989b9a9b8c9f928c9b8d9b8c889bd0999188"><span class="__cf_email__" data-cfemail="87f5e2e0f4a9e4e8eaeae2e9f3f4c7e1e2e3e2f5e6ebf5e2f4e2f5f1e2a9e0e8f1">[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 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#1f716a777e317a73727e78776d7e7d765f796d7d31787069"><span class="__cf_email__" data-cfemail="09677c6168276c6564686e617b686b60496f7b6b276e667f">[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. On the page displayed at the link above, you can
find the supporting information by referencing the collection
identifier, FR 2886b. 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;
[[Page 48645]]
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: Consolidated Report of Condition and Income for
Edge and Agreement Corporations.
Collection identifier: FR 2886b.
OMB control number: 7100-0086.
General description of collection: The FR 2886b reporting form is
filed quarterly or annually by Edge and agreement corporations
(collectively, Edges or Edge corporations). The Board is responsible
for authorizing, supervising, and assigning ratings to Edges. The Board
and the Federal Reserve Banks use the data collected by the FR 2886b to
supervise Edge corporations and to monitor and develop a better
understanding of Edge activities.
Proposed revisions: The Board proposes to revise the FR 2886b form
and instructions to be consistent with adopted changes to U.S.
generally accepted accounting principles (GAAP) related to troubled
debt restructurings, provisions for credit losses on off-balance sheet
credit exposures, and expected recoveries of amounts previously charged
off included within the allowances for credit losses. The Board also
proposes to revise the FR 2886b instructions by (1) specifying when
respondents should submit their reports if the submission deadline
falls on a weekend or holiday, and (2) adding a recordkeeping
requirement for respondents to maintain a record of the data submitted
for three years. These revisions are proposed to take effect as of the
December 31, 2024, as-of date.
Frequency: Quarterly and annually.
Respondents: Edge and agreement corporations.
Total estimated number of respondents: 64.
Total estimated change in burden: 96.
Total estimated annual burden hours: 1,432.
Board of Governors of the Federal Reserve System, June 4, 2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-12556 Filed 6-6-24; 8:45 am]
BILLING CODE 6210-01-P
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