Notice2024-23125
Proposed Agency Information Collection Activities; Comment Request
Primary source
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Published
October 7, 2024
Issuing agencies
Treasury DepartmentComptroller of the CurrencyFederal Reserve SystemFederal Deposit Insurance Corporation
Abstract
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (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 January 19, 2024, the agencies under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to revise and extend the Foreign Branch Report of Condition (FFIEC 030) and the Abbreviated Foreign Branch Report of Condition (FFIEC 030S), which are currently approved collections of information. These proposed revisions would incorporate line items from the FR 2502q, Quarterly Report of Assets and Liabilities of Large Foreign Offices of U.S. Banks (OMB Control No. 7100-0079) into the FFIEC 030. There are no proposed revisions to the FFIEC 030S. As described in the SUPPLEMENTARY INFORMATION section, the agencies are proceeding with the proposed revisions, but with certain modifications. In addition, the agencies will make clarifying revisions to the instructions in response to a comment received. The agencies are giving notice that they are sending the collections to OMB for review.
Full Text
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<title>Federal Register, Volume 89 Issue 194 (Monday, October 7, 2024)</title>
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[Federal Register Volume 89, Number 194 (Monday, October 7, 2024)]
[Notices]
[Pages 81137-81140]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-23125]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); and Federal
Deposit Insurance Corporation (FDIC).
ACTION: Joint notice and request for comment.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (PRA), the OCC, the Board, and the FDIC (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 January 19, 2024, the agencies under the auspices of the Federal
Financial Institutions Examination Council (FFIEC), requested public
comment for 60 days on a proposal to revise and extend the Foreign
Branch Report of Condition (FFIEC 030) and the Abbreviated Foreign
Branch Report of Condition (FFIEC 030S), which are currently approved
collections of information. These proposed revisions would incorporate
line items from the FR 2502q, Quarterly Report of Assets and
Liabilities of Large Foreign Offices of U.S. Banks (OMB Control No.
7100-0079) into the FFIEC 030. There are no proposed revisions to the
FFIEC 030S. As described in the SUPPLEMENTARY INFORMATION section, the
agencies are proceeding with the proposed revisions, but with certain
modifications. In addition, the agencies will make clarifying revisions
to the instructions in response to a comment received. The agencies are
giving notice that they are sending the collections to OMB for review.
DATES: Comments must be submitted on or before November 6, 2024.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments, which should refer to the
``FFIEC 030 or FFIEC 030S,'' will be shared among the agencies.
OCC: You may submit comments, which should refer to ``FFIEC 030 or
[[Page 81138]]
FFIEC 030S,'' by any of the following methods:
<bullet> Email: <a href="/cdn-cgi/l/email-protection#3d4d4f5c54535b527d525e5e13494f585c4e135a524b"><span class="__cf_email__" data-cfemail="bececcdfd7d0d8d1fed1dddd90caccdbdfcd90d9d1c8">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Office of the Comptroller of
the Currency, Attention: 1557-0099, 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
<bullet> Fax: (571) 293-4835.
Instructions: You must include ``OCC'' as the agency name and
``1557-0099'' in your comment. In general, the OCC will publish
comments on <a href="http://www.reginfo.gov">www.reginfo.gov</a> without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection by the method set forth in the next
bullet.
<bullet> Viewing Comments Electronically: Go to <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Hover over the ``Information Collection Review'' drop-down menu and
select ``Information Collection Review.'' Underneath the ``Currently
under Review'' section heading, from the drop-down menu select
``Department of Treasury'' and then click ``submit.'' This information
collection can be located by searching OMB control number ``1557-0099''
or ``FFIEC 030 or FFIEC 030S.'' Upon finding the appropriate
information collection, click on the related ``ICR Reference Number.''
On the next screen, select ``View Supporting Statement and Other
Documents'' and then click on the link to any comment listed at the
bottom of the screen.
<bullet> For assistance in navigating <a href="http://www.reginfo.gov">www.reginfo.gov</a>, please
contact the Regulatory Information Service Center at (202) 482-7340.
Board: You may submit comments, which should refer to ``FFIEC 030
or FFIEC 030S,'' by any of the following methods:
<bullet> Agency website: <a href="http://www.federalreserve.gov">http://www.federalreserve.gov</a>. Follow the
instructions for submitting comments at: <a href="http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm">http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#9be9fefce8b5f8f4f6f6fef5efe8dbfdfefffee9faf7e9fee8fee9edfeb5fcf4ed"><span class="__cf_email__" data-cfemail="394b5c5e4a175a5654545c574d4a795f5c5d5c4b58554b5c4a5c4b4f5c175e564f">[email protected]</span></a>. Include ``FFIEC
030 or FFIEC 030S'' in the subject line of the message.
<bullet> Fax: (202) 395-6974.
<bullet> Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
In general, all public comments are available on 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, and will not be modified to remove confidential, contact
or any identifying information.
FDIC: You may submit comments, which should refer to ``FFIEC 030 or
FFIEC 030S,'' by any of the following methods:
<bullet> Agency Website: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a>. Follow the instructions for
submitting comments on the FDIC's website.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#0d6e6260606863797e4d4b49444e236a627b"><span class="__cf_email__" data-cfemail="492a2624242c273d3a090f0d000a672e263f">[email protected]</span></a>. Include ``FFIEC 030 or FFIEC
030S'' in the subject line of the message.
<bullet> Mail: Manuel E. Cabeza, Counsel, Attn: Comments, Room MB-
3128, Federal Deposit Insurance Corporation, 550 17th Street NW,
Washington, DC 20429.
<bullet> Hand Delivery: Comments may be hand delivered to the guard
station at the rear of the 550 17th Street Building (located on F
Street) on business days between 7:00 a.m. and 5:00 p.m.
<bullet> Public Inspection: All comments received will be posted
without change to <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</a> including any personal information provided.
Paper copies of public comments may be requested from the FDIC Public
Information Center by telephone at (877) 275-3342 or (703) 562-2200.
Written comments and recommendations for this information
collection also should be sent within 30 days of publication of this
document to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: For further information about the
proposed revisions to the information collections discussed in this
notice, please contact any of the agency staff whose names appear
below. In addition, copies of the report forms for the FFIEC 030 and
FFIEC 030S 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>).
OCC: Kevin Korzeniewski, Counsel, (202) 649-5490, Chief Counsel's
Office, Office of the Comptroller of the Currency. If you are deaf,
hard of hearing, or have a speech disability, please dial 7-1-1 to
access telecommunications relay services.
Board: 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 (TDD) users may call
(202) 263-4869.
FDIC: Manuel E. Cabeza, Counsel, (202) 898-3767, Legal Division,
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington,
DC 20429.
SUPPLEMENTARY INFORMATION: The agencies propose to extend for three
years, with revision, the FFIEC 030 and the FFIEC 030S.
I. Report Summary
Report Title: Foreign Branch Report of Condition.
Form Number: FFIEC 030 and FFIEC 030S.
Frequency of Response: Annually, and quarterly for significant
branches.
Affected Public: Business of other for profit.
OCC
OMB Control Number: 1557-0099.
Estimated Number of Respondents: 57 quarterly respondents (FFIEC
030); 42 annual respondents (FFIEC 030); 12 annual respondents (FFIEC
030S).
Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030
Quarterly); 2.98 burden hours (FFIEC 030 Annual) 0.95 burden hours
(FFIEC 030S).
Estimated Total Annual Burden: 1,028.04 burden hours.
Board
OMB Control Number: 7100-0071.
Estimated Number of Respondents: 21 quarterly respondents (FFIEC
030); 10 annual respondents (FFIEC 030); 9 annual respondents (FFIEC
030S).
Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030
Quarterly); 2.98 burden hours (FFIEC 030 Annual); 0.95 burden hours
(FFIEC 030S).
Estimated Total Annual Burden: 366.79 burden hours.
FDIC
OMB Control Number: 3064-0011 (FDIC).
Estimated Number of Respondents: 0 quarterly respondents (FFIEC
030); 4 annual respondents (FFIEC 030); 3 annual respondents (FFIEC
030S).
Estimated Average Burden per Response: 3.91 burden hours (FFIEC 030
[[Page 81139]]
Quarterly); 2.98 burden hours (FFIEC 030 Annual); 0.95 burden hours
(FFIEC 030S).
Estimated Total Annual Burden: 14.77 burden hours.
II. Legal Basis and Need for Collection
This information collection is mandatory: 12 U.S.C. 602 (Board); 12
U.S.C. 161 and 602 (OCC); and 12 U.S.C. 1828 (FDIC). This information
collection is given confidential treatment under 5 U.S.C. 552(b)(4) and
(8).
The FFIEC 030 collects asset and liability information for foreign
branches of insured U.S. banks and insured U.S. savings associations
(U.S. depository institutions) and is required for regulatory and
supervisory purposes. The information is used to analyze the foreign
operations of U.S. institutions. All foreign branches of U.S.
institutions regardless of charter type file this report as provided in
the instructions to the FFIEC 030 and FFIEC 030S. A U.S. depository
institution generally must file a separate report for each foreign
branch, but in some cases may consolidate filing for multiple foreign
branches in the same country, as described below.
A branch with either total assets of at least $2 billion or
commitments to purchase foreign currencies and U.S. dollar exchange of
at least $5 billion as of the end of a calendar quarter is considered a
``significant branch'' and an FFIEC 030 report is required to be filed
quarterly. A U.S. depository institution with a foreign branch having
total assets in excess of $250 million that does not meet either of the
criteria to file quarterly must file the entire FFIEC 030 report for
this foreign branch on an annual basis as of December 31, with respect
to this foreign branch.
A U.S. depository institution with a foreign branch having total
assets of $50 million, but less than or equal to $250 million that does
not meet the criteria to file the FFIEC 030 report must file the FFIEC
030S report for this foreign branch on an annual basis as of December
31. A U.S. depository institution with a foreign branch having total
assets of less than $50 million is exempt from filing the FFIEC 030 and
030S reports.
III. Current Actions
On January 19, 2024, the agencies proposed revisions to the FFIEC
030 that would incorporate line items from the FR 2502q. The comment
period for the January notice ended on March 19, 2024. The agencies
received comments from two banking associations. These comments were
generally supportive of the proposed new line items. After reviewing
the comments, the agencies are moving forward with the proposed
revisions to the FFIEC 030, with certain modifications. The specific
comments, the agencies' responses, and pertinent modifications follow.
First, one commenter urged the agencies to limit the scope of
respondents subject to the proposed Schedule RAL-A to those that meet
the current criteria to file the FR 2502q. The commenter stated that
there are significant scoping differences between the FR 2502q and the
FFIEC 030. The FR 2502q reporting is limited to branches with total
assets of $2 billion or more and that are located in the United Kingdom
(U.K.) or the Caribbean. The FFIEC 030 quarterly reporting
requirements, however, scope in any branch with either total assets of
at least $2 billion or commitments to purchase foreign currencies and
U.S. dollar exchange (a purchase of U.S. dollar exchange is equivalent
to a sale of foreign currency) of at least $5 billion as of the end of
a calendar quarter. The commenter stated that the FFIEC 030's reporting
scope, without the geographic limitation to branches in the U.K. and
the Caribbean, results in a much greater reporting burden on firms.
Furthermore, this commenter also stated that the proposed changes
and increased granularity of the items reported would necessitate both
the development of new systems, as well as modifications to existing
ones. For example, the commenter noted the amount to be reported on
proposed Schedule RAL-A, line item 5, ``Assets that are claims on U.S.
addressees other than depository institutions,'' includes new sub-line
items that are more granular than the amount currently reported in FR
2502q item 1.c, ``U.S. addresses other than depository institutions,''
and would increase burden to all filers of the FFIEC 030. This
reporting burden would be greatest on respondents that have newly
scoped-in entities that would be reporting this information for the
first time. In light of this, the commenter requested that, if the
scope of respondents on the proposed FFIEC 030 Schedule RAL-A is not
limited to those that currently meet the criteria to file the FR 2502q,
branches would need at least four quarters from publication of the
final forms and instructions to implement the revisions. However, if
the scope were limited to branches that meet the current criteria to
file the FR 2502q, branches would only need two additional quarters to
implement the proposal.
The agencies acknowledge that branches may need additional time to
develop their reporting systems to implement these changes. As such,
the agencies will delay the implementation date based on the branch
meeting the criteria to file the FR 2502q. Beginning as of the March
31, 2025, report date, all branches that are located in the U.K. or
Caribbean (that are not located in a U.S. military facility), and with
total assets of at least $2 billion (as reported in Schedule RAL, item
11) as of the end of the calendar quarter, must complete new Schedule
RAL-A. Beginning as of the December 31, 2025, report date, all branches
required to report the FFIEC 030 on a quarterly basis must complete new
Schedule RAL-A without any geographic limitation of being located in
the U.K. or Caribbean. Branches that file the FFIEC 030 on an annual
basis do not need to report the new items. The FFIEC 030 instructions
will be updated to reflect these changes.
Second, the commenter requested that the agencies clarify the
reporting of proposed Schedule RAL-A, line item 5, ``Assets that are
claims on U.S. addressees other than depository institutions,'' by
adding a Micro Data Reference Manual (MDRM) number and to include in
the instructions that this line item is not an aggregate total of its
sub-items. The commenter also requested that the agencies clarify
whether Schedule RAL-A, line item 6, ``Liabilities to U.S. addressees
other than depository institutions,'' is intended to extend to all
liabilities or if respondents should report only deposit liabilities.
In response, the agencies are revising the report form by adding a MDRM
to line item 5 on Schedule RAL-A and also clarifying in the
instructions that line item 5 on Schedule RAL-A is not an aggregate
total of sub-items 5.a through 5.d. The agencies are also clarifying in
the instructions of Scheduled RAL-A, line item 6, that it is intended
to extend to all liabilities and not only to deposit liabilities.
Lastly, separate from this proposal, on June 7, 2024, the Board
published in the Federal Register an initial notice \1\ requesting
public comment for 60 days on the extension with revision to the
Financial Statements of Foreign Subsidiaries of U.S. Banking
Organizations (FR 2314). The comment period of the June notice ended on
August 6, 2024, and the Board received a comment from a banking trade
organization regarding the proposed changes to the FFIEC 030.
Specifically, the commenter requested clarification on the reporting of
claims/liabilities with related institutions on the FFIEC 030. In the
proposed instructions of
[[Page 81140]]
Schedule RAL-A line items 5 and 6, it states to ``Report claims/
liabilities on U.S. addressees other than parent bank and other
depository institutions'' and contains no specific instructions on how
to treat claims/liabilities with related institutions. However, on the
proposed FR 2314 Schedule BS-Q line items 3 and 4, the instructions
explicitly state to ``exclude balances with related institutions.''
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\1\ See 89 FR 48639.
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The commenter requested that the Board work with the other agencies
to clarify that balances with related institutions, as defined in FFIEC
030S and reported in FFIEC 030 proposed Schedule RAL-A items 1-4,
should be excluded for the purposes of FFIEC 030 Schedule RAL-A items 5
and 6. In response to the commenter, to make the instructions more
parallel between the FFIEC 030 and FR 2314, the agencies will clarify
in the FFIEC 030 instructions to explicitly exclude balances with
related institutions from the amounts reported in Schedule RAL-A, items
5 and 6.
IV. Timing
The proposed revisions to the FFIEC 030 would be effective as of
the March 31, 2025, report date for branches that currently meet the
criteria to file the FR 2502q (i.e., those located in the U.K. or
Caribbean). For a branch that does not meet the current criteria to
file the FR 2502q, but files the FFIEC 030 on a quarterly basis, the
effective date for these new items will be as of December 31, 2025.
V. Request for Comment
Public comment is requested on all aspects of this joint notice.
Comment is 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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Comments submitted in response to this joint notice will be shared
among the agencies.
Patrick T. Tierney,
Assistant Director, Office of the Comptroller of the Currency.
Board of Governors of the Federal Reserve System.
Benjamin W. McDonough,
Deputy Secretary of the Board.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 1, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-23125 Filed 10-4-24; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P
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