Notice2024-26706
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
November 15, 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, without revision, the Reporting and Recordkeeping Requirements Associated with Regulation W (FR W; 7100-0304).
Full Text
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<title>Federal Register, Volume 89 Issue 221 (Friday, November 15, 2024)</title>
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[Federal Register Volume 89, Number 221 (Friday, November 15, 2024)]
[Notices]
[Pages 90283-90284]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-26706]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Reporting and Recordkeeping Requirements Associated with
Regulation W (FR W; 7100-0304).
DATES: Comments must be submitted on or before January 14, 2025.
ADDRESSES: You may submit comments, identified by FR W, 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#3a485f5d4914595557575f544e497a5c5f5e5f485b56485f495f484c5f145d554c"><span class="__cf_email__" data-cfemail="a7d5c2c0d489c4c8cacac2c9d3d4e7c1c2c3c2d5c6cbd5c2d4c2d5d1c289c0c8d1">[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
[[Page 90284]]
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#aec0dbc6cf80cbc2c3cfc9c6dccfccc7eec8dccc80c9c1d8"><span class="__cf_email__" data-cfemail="a0ced5c8c18ec5cccdc1c7c8d2c1c2c9e0c6d2c28ec7cfd6">[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/review">https://www.federalreserve.gov/apps/reportingforms/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 W.
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,
Without Revision, the Following Information Collection
Collection title: Reporting and Recordkeeping Requirements
Associated with Regulation W.
Collection identifier: FR W.
OMB control number: 7100-0304.
General description of collection: The FR W information collection
comprises the reporting requirements of Regulation W that are found in
sections 223.15(b)(4), 223.31(d)(4), 223.41(d)(2), and 223.43(b) and
the recordkeeping requirements found in sections 223.42(f)(6) and
223.42(g)(3). This information is used to demonstrate compliance with
sections 23A and 23B of the Federal Reserve Act (FRA) and to request
certain exemptions from the Board. Sections 23A and 23B of the FRA are
designed to protect a depository institution from exposure arising from
certain transactions with affiliates. They also limit the ability of an
insured depository institution to transfer the subsidy arising from
access to the federal safety net to such affiliates. Regulation W
implements sections 23A and 23B by defining terms used in the statute,
explaining the statute's requirements, and exempting certain
transactions. The regulation includes provisions requiring the
reporting of information to the Board under certain circumstances, to
determine whether a depository institution is complying with sections
23A and 23B of the FRA and Regulation W and whether a proposed
transaction is financially sound and consistent with the public
interest.
Frequency: Event generated.
Respondents: Insured depository institutions and uninsured member
banks.
Total estimated number of respondents: 2.
Total estimated annual burden hours: 56.
Board of Governors of the Federal Reserve System, November 12,
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-26706 Filed 11-14-24; 8:45 am]
BILLING CODE 6210-01-P
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