Notice2024-14365
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
July 1, 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 Treasury Securities and Agency Debt and Mortgage-Backed Securities Reporting Requirements (FR 2956; OMB No. 7100-0383).
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 126 (Monday, July 1, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 126 (Monday, July 1, 2024)]
[Notices]
[Pages 54462-54463]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-14365]
[[Page 54462]]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, with revision,
the Treasury Securities and Agency Debt and Mortgage-Backed Securities
Reporting Requirements (FR 2956; OMB No. 7100-0383).
DATES: Comments must be submitted on or before August 30, 2024.
ADDRESSES: You may submit comments, identified by FR 2956, 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#4e3c2b293d602d2123232b203a3d0e282b2a2b3c2f223c2b3d2b3c382b60292138"><span class="__cf_email__" data-cfemail="bdcfd8dace93ded2d0d0d8d3c9cefddbd8d9d8cfdcd1cfd8ced8cfcbd893dad2cb">[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#cca2b9a4ade2a9a0a1adaba4beadaea58caabeaee2aba3ba"><span class="__cf_email__" data-cfemail="543a213c357a31383935333c2635363d143226367a333b22">[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 2956. 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: Treasury Securities and Agency Debt and Mortgage-
Backed Securities Reporting Requirements.
Collection identifier: FR 2956.
OMB control number: 7100-0383.
General description of collection: The FR 2956 collects detailed
data on depository institutions' daily transactions trading of
marketable U.S. Treasury securities and transactions trading of the
debt and mortgage-backed securities (MBS) issued by U.S. federal
government agencies including government-sponsored enterprises
(agencies). The 2956 has two parts: Part 1 collects data on
transactions in U.S. Treasury debt, and Part 2 collects transactions in
debt and MBS issued by agencies. Every national bank, state member
bank, state non-member bank, savings association, or U.S. branch and
agency of a foreign bank filing a Notice by Financial Institutions of
Government Securities Broker or Government Securities Dealer Activities
(Form G-FIN; OMB No. 7100-0224) with average daily transaction volumes
of over $100 million, for U.S. Treasury debt, or over $50 million, for
agency-issued debt and MBS, during the prior fiscal year is subject to
the these reporting requirements. Depository institutions subject to
the reporting requirements of the FR 2956 electronically report
transactions through the Board's data collection vendor, the Financial
Industry Regulatory Authority (FINRA), utilizing its Trade Reporting
and Compliance Engine (TRACE). Broker-dealers that are members of FINRA
report transactions pursuant to the FINRA rules, and not the FR 2956.
The Board receives data on transactions executed by FINRA members.
Proposed revisions: The Board proposes to revise Part 1 of the FR
2956 report, which pertains to the reporting of transactions in U.S.
Treasury securities, by updating (i) the timeframe within which a
depository institution
[[Page 54463]]
subject to the reporting requirements of Part 1 of the FR 2956 must
report transactions in U.S. Treasury securities, and (ii) for
transactions executed electronically, the minimum increment of time
that must be used for reporting the execution times. The Board also
proposes certain technical and clarifying revisions to Part 2 of the FR
2956 report. Specifically, the revisions are intended to make the
definitions clearer and to correct an error.
Frequency: Daily, event-generated.
Respondents: Depository institutions that meet the above reporting
thresholds. Prime brokers or depository institutions who file Form G-
FIN and are FINRA members acting as an executing broker and that
therefore already are subject to TRACE reporting pursuant to FINRA
rules are exempt from this reporting requirement.
Total estimated number of respondents: 22.
Total estimated change in burden: (11,000).
Total estimated annual burden hours: 22,000.
Board of Governors of the Federal Reserve System, June 25, 2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-14365 Filed 6-28-24; 8:45 am]
BILLING CODE 6210-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 1, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.