Notice2024-21910
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
September 25, 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 Regulation YY (FR YY; OMB No. 7100-0350).
Full Text
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<title>Federal Register, Volume 89 Issue 186 (Wednesday, September 25, 2024)</title>
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[Federal Register Volume 89, Number 186 (Wednesday, September 25, 2024)]
[Notices]
[Pages 78304-78305]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-21910]
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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
Regulation YY (FR YY; OMB No. 7100-0350).
DATES: The revisions are applicable as of September 25, 2024.
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#f49a819c95da91989995939c8695969db4928696da939b82"><span class="__cf_email__" data-cfemail="f49a819c95da91989995939c8695969db4928696da939b82">[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/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 YY.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collection
Collection title: Reporting, Recordkeeping, and Disclosure
Requirements Associated with Regulation YY.
Collection identifier: FR YY.
OMB control number: 7100-0350.
General description of collection: Section 165 of the Dodd-Frank
Wall Street Reform and Consumer Protection Act authorizes the Board to
implement enhanced prudential standards and impose requirements related
to stress tests on certain financial companies. The Board has relied on
this authority to enact Regulation YY--Enhanced Prudential Standards
(12 CFR part 252). The enhanced prudential standards and other
requirements contained in Regulation YY include risk-based and leverage
capital requirements, liquidity standards, requirements for overall
risk management (including establishing a risk committee), stress test
requirements, and debt-to-equity limits for companies that the
Financial Stability Oversight Council has determined pose a grave
threat to financial stability. The FR YY information collection
includes reporting, recordkeeping, and disclosure requirements
contained in Regulation YY.
Frequency: Quarterly, biennial, annual, and event-generated.
Respondents: U.S. bank holding companies, domestic and foreign
nonbank systemically important financial institutions, state member
banks, foreign banking organizations, and U.S. intermediate holding
companies.
Total estimated number of respondents: 43.
Total estimated change in burden: 2,578.
Total estimated annual burden hours: 26,458.
Current actions: On March 29, 2024, the Board published a notice in
the Federal Register (89 FR 22150) requesting public comment for 60
days on the extension, with revision, of the FR YY. The Board proposed
to revise the FR YY to take into account existing provisions in
Regulation YY that included information collections, but had not been
included in previous clearances. The comment period for this notice
expired on May 28, 2024. The Board did not receive any comments. The
revisions will be implemented as proposed.
[[Page 78305]]
Board of Governors of the Federal Reserve System, September 17,
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-21910 Filed 9-24-24; 8:45 am]
BILLING CODE 6210-01-P
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