Notice2025-02256
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
February 5, 2025
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 Recordkeeping Provisions Associated with the Interagency Statement on Complex Structured Finance Activities (FR 4022; OMB No. 7100-0311).
Full Text
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<title>Federal Register, Volume 90 Issue 23 (Wednesday, February 5, 2025)</title>
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[Federal Register Volume 90, Number 23 (Wednesday, February 5, 2025)]
[Notices]
[Pages 9034-9035]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-02256]
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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 Recordkeeping Provisions Associated with the Interagency
Statement on Complex Structured Finance Activities (FR 4022; OMB No.
7100-0311).
DATES: Comments must be submitted on or before April 7, 2025.
ADDRESSES: You may submit comments, identified by FR 4022, 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, including attachments.
Preferred method.
<bullet> Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
<bullet> Hand Delivery/Courier: Same as mailing address.
<bullet> Other Means: <a href="/cdn-cgi/l/email-protection#413134232d2822222e2c2c242f3532012733236f262e37"><span class="__cf_email__" data-cfemail="c2b2b7a0aeaba1a1adafafa7acb6b182a4b0a0eca5adb4">[email protected]</span></a>. You must include the
OMB number or the FR number in the subject line of the message.
Comments received are subject to public disclosure. In general,
comments received will be made available on the Board's website at
<a href="https://www.federalreserve.gov/apps/proposals/">https://www.federalreserve.gov/apps/proposals/</a> without change and will
not be modified to remove personal or business information including
confidential, contact, or other identifying information. Comments
should not include any information such as confidential information
that would be not appropriate for public disclosure. Public comments
may also be viewed electronically or in person in Room M-4365A, 2001 C
St. NW, Washington, DC 20551, between 9 a.m. and 5 p.m. during Federal
business weekdays.
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#2d4358454c034841404c4a455f4c4f446d4b5f4f034a425b"><span class="__cf_email__" data-cfemail="5b352e333a753e37363a3c33293a39321b3d2939753c342d">[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
4022. 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;
[[Page 9035]]
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: Recordkeeping Provisions Associated with the
Interagency Statement on Complex Structured Finance Activities.
Collection identifier: FR 4022.
OMB control No.: 7100-0311.
General description of collection: This interagency guidance (the
Statement) \1\ states that certain financial institutions should
establish and maintain written policies and procedures for identifying,
evaluating, assessing, documenting, and controlling risks associated
with complex structured finance transactions (CSFTs) and should retain
certain documents related to elevated risk CSFTs,\2\ which are a
subcategory of CSFTs. The FR 4022 covers these information collections
for financial institutions that are subject to the Statement and that
are supervised by the Board.
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\1\ Interagency Statement on Sound Practices Concerning Elevated
Risk Complex Structured Finance Activities (the Statement) (January
11, 2007), available at <a href="https://www.federalregister.gov/documents/2007/01/11/07-55/interagency-statement-on-sound-practices-concerning-elevated-risk-complex-structured-finance">https://www.federalregister.gov/documents/2007/01/11/07-55/interagency-statement-on-sound-practices-concerning-elevated-risk-complex-structured-finance</a>.
\2\ See section III, part A, ``Identifying Elevated Risk
CSFTs,'' of the final interagency statement for more details.
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Frequency: On-going.
Respondents: State member banks, bank holding companies (other than
foreign banking organizations), savings and loan holding companies, and
U.S. branches and agencies of foreign banks.
Total estimated number of respondents: 14.
Total estimated annual burden hours: 140.
Board of Governors of the Federal Reserve System, January 31,
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-02256 Filed 2-4-25; 8:45 am]
BILLING CODE 6210-01-P
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