Notice2024-14364
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
July 1, 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, without revision, the Recordkeeping Requirements Associated with Regulation F (FR F; OMB No. 7100-0331).
Full Text
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<title>Federal Register, Volume 89 Issue 126 (Monday, July 1, 2024)</title>
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[Federal Register Volume 89, Number 126 (Monday, July 1, 2024)]
[Notices]
[Pages 54464-54465]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-14364]
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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
Recordkeeping Requirements Associated with Regulation F (FR F; OMB No.
7100-0331).
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#3658435e5718535a5b57515e4457545f7650445418515940"><span class="__cf_email__" data-cfemail="244a514c450a41484945434c5645464d644256460a434b52">[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
[[Page 54465]]
available on the Federal Reserve 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 F.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Collection title: Recordkeeping Requirements Associated with
Regulation F.
Collection identifier: FR F.
OMB control number: 7100-0331.
General description of collection: The Board's Regulation F--
Limitations on Interbank Liabilities (12 CFR part 206) establishes
limits on depository institutions' credit exposure to individual
correspondents in order to mitigate the risk that the failure of a
correspondent would pose to an insured depository institution. Section
206.3 of Regulation F requires insured depository institutions to
establish and maintain policies and procedures designed to prevent
excessive exposure to correspondents.
Frequency: This information collection contains recordkeeping
requirements. The creation of written policies and procedures
concerning interbank liabilities is a mandatory one-time requirement.
Subsequent changes to these policies and procedures would be on
occasion, and they must be reviewed and approved by the depository
institution's board of directors at least annually. The policies and
procedures must be maintained, as amended.
Respondents: All depository institutions insured by the Federal
Deposit Insurance Corporation (FDIC). The Board takes burden under the
PRA with respect to all such entities.
Total estimated number of respondents: 4,655.
Total estimated annual burden hours: 4,753.
Current actions: On February 16, 2024 the Board published a notice
in the Federal Register (89 FR 12344) requesting public comment for 60
days on the extension, without revision, of the FR F. The comment
period for this notice expired on April 16, 2024. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, June 25, 2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-14364 Filed 6-28-24; 8:45 am]
BILLING CODE 6210-01-P
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