Notice2024-16730
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 30, 2024
Issuing agencies
Federal Reserve System
Abstract
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the "agencies") may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On March 4, 2024, the Board, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, requested public comment for 60 days on a proposal to extend, without revision, the Country Exposure Report for U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which is currently an approved collection of information. The comment period for the proposal ended on May 3, 2024. As described in the SUPPLEMENTARY INFORMATION section, the agencies will extend the FFIEC 019 as proposed. The Board hereby gives notice of its plan to submit to OMB a request to approve the revision and extension of this information collection, and again invites comment on the proposal.
Full Text
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<title>Federal Register, Volume 89 Issue 146 (Tuesday, July 30, 2024)</title>
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[Federal Register Volume 89, Number 146 (Tuesday, July 30, 2024)]
[Notices]
[Pages 61119-61120]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-16730]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System (Board).
ACTION: Notice and request for comment.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (PRA), the Board, the Federal Deposit Insurance Corporation
(FDIC), and the Office of the Comptroller of the Currency (OCC)
(collectively, the ``agencies'') may not conduct or sponsor, and the
respondent is not required to respond to, an information collection
unless it displays a currently valid Office of Management and Budget
(OMB) control number. On March 4, 2024, the Board, under the auspices
of the Federal Financial Institutions Examination Council (FFIEC), of
which the agencies are members, requested public comment for 60 days on
a proposal to extend, without revision, the Country Exposure Report for
U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which is
currently an approved collection of information. The comment period for
the proposal ended on May 3, 2024. As described in the SUPPLEMENTARY
INFORMATION section, the agencies will extend the FFIEC 019 as
proposed. The Board hereby gives notice of its plan to submit to OMB a
request to approve the revision and extension of this information
collection, and again invites comment on the proposal.
DATES: Comments must be submitted on or before August 29, 2024.
ADDRESSES: Interested parties are invited to submit written comments,
identified by ``FFIEC 019,'' 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#a5d7c0c2d68bc6cac8c8c0cbd1d6e5c3c0c1c0d7c4c9d7c0d6c0d7d3c08bc2cad3"><span class="__cf_email__" data-cfemail="592b3c3e2a773a3634343c372d2a193f3c3d3c2b38352b3c2a3c2b2f3c773e362f">[email protected]</span></a>. Include the
reporting form 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 identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on weekdays. 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
OMB desk officer for the agencies by mail to the Office of Information
and Regulatory Affairs, U.S. Office of Management and Budget, New
Executive Office Building, Room 10235, 725 17th Street NW, Washington,
DC 20503; by fax to (202) 395-6974; or by email to
<a href="/cdn-cgi/l/email-protection#5f30362d3e002c2a3d32362c2c3630311f30323d713a302f71383029"><span class="__cf_email__" data-cfemail="8de2e4ffecd2fef8efe0e4fefee4e2e3cde2e0efa3e8e2fda3eae2fb">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: For further information about the
proposed extension without revision of the FFIEC 019 discussed in this
notice, please contact the agency staff member whose name appears
below. In addition, a copy of the FFIEC 019 form can be obtained at the
FFIEC's website (<a href="https://www.ffiec.gov/ffiec_report_forms.htm">https://www.ffiec.gov/ffiec_report_forms.htm</a>).
Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, (202)
452-3884, Office of the Chief Data Officer, Board of Governors of the
Federal Reserve System, 20th and C Streets NW, Washington, DC 20551.
Telecommunications Device for the Deaf users may call (202) 263-4869.
SUPPLEMENTARY INFORMATION: The Board is proposing to extend for three
years, without revision, the FFIEC 019.
Report Title: Country Exposure Report for U.S. Branches and
Agencies of Foreign Banks.
Form Number: FFIEC 019.
OMB control number: 7100-0213.
Frequency of Response: Quarterly.
Affected Public: Business or other for-profit.
Respondents: All branches and agencies of foreign banks domiciled
in the United States with total direct claims on foreign residents in
excess of $30 million.
Estimated Number of Respondents: 147.
Estimated Average Burden per Response: 10 hours.
Estimated Total Annual Burden: 5,880 hours.
I. General Description of Report
This information collection is required pursuant to sections 7 and
13 of the International Banking Act (12 U.S.C. 3105 and 3108) for the
Board, sections 7 and 10 of the Federal Deposit Insurance Act (12
U.S.C. 1817 and 1820) for the FDIC, and the National Bank Act (12
U.S.C. 161) as applied through section 4 of the International Banking
Act (12 U.S.C. 3102) for the OCC. The FFIEC 019 is given confidential
treatment consistent with 5 U.S.C. 552(b)(4) and (b)(8).
The FFIEC 019 report must be filed by each U.S. branch or agency of
a foreign bank that has total direct claims on foreign residents in
excess of $30 million. The branch or agency reports its total exposure
(1) to residents of its
[[Page 61120]]
home country, and (2) to the other five foreign nations to which its
exposure is largest and is at least $20 million. The home country
exposure must be reported regardless of the size of the total claims
for that nation.
Each respondent must report by country, as appropriate, the
information on its direct claims (assets such as deposit balances with
banks, loans, or securities), indirect claims (which include
guarantees), and total adjusted claims on foreign residents, as well as
information on commitments. The respondent also must report information
on claims on related non-U.S. offices that are included in total
adjusted claims on the home country, as well as a breakdown for the
home country and each other reported country of adjusted claims on
unrelated foreign residents by the sector of borrower or guarantor, and
by maturity (in two categories: one year or less, and over one year).
The Board collects and processes this report on behalf of all three
agencies.
II. Current Actions
On March 4, 2024, the Board published a notice in the Federal
Register (89 FR 15575) requesting comment for 60 days on a proposal to
extend for three years, without revision, the FFIEC 019. The comment
period for the proposal ended on May 3, 2024, and no comments were
received.
III. Request for Comment
Public comment is requested on all aspects of this notice. Comment
is also specifically invited on:
a. Whether the information collection is necessary for the proper
performance of the agencies' functions, including whether the
information has practical utility;
b. The accuracy of the agencies' estimate of the burden of the
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 the information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Comments submitted to the Board in response to this notice will be
shared with the other agencies. All comments will become a matter of
public record.
Board of Governors of the Federal Reserve System, July 25, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-16730 Filed 7-29-24; 8:45 am]
BILLING CODE 6210-01-P
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