Notice2025-05649
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
April 2, 2025
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, without revision, the Reporting and Recordkeeping Requirements Associated with Regulation W (FR W; OMB No. 7100-0304).
Full Text
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<title>Federal Register, Volume 90 Issue 62 (Wednesday, April 2, 2025)</title>
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[Federal Register Volume 90, Number 62 (Wednesday, April 2, 2025)]
[Notices]
[Page 14445]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05649]
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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, without revision, the
Reporting and Recordkeeping Requirements Associated with Regulation W
(FR W; OMB No. 7100-0304).
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#204e5548410e454c4d41474852414249604652420e474f56"><span class="__cf_email__" data-cfemail="0e607b666f206b62636f69667c6f6c674e687c6c20696178">[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/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 Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of 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.
Current actions: On November 15, 2024, the Board published a notice
in the Federal Register (89 FR 90283) requesting public comment for 60
days on the extension, without revision, of the FR W. The comment
period for this notice expired on January 14, 2025. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, March 28,
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-05649 Filed 4-1-25; 8:45 am]
BILLING CODE 6210-01-P
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