Notice2025-07411
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
April 30, 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, with revision, the Recordkeeping and Disclosure Requirements Associated with Regulation CC (FR CC; OMB No. 7100-0235).
Full Text
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<title>Federal Register, Volume 90 Issue 82 (Wednesday, April 30, 2025)</title>
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[Federal Register Volume 90, Number 82 (Wednesday, April 30, 2025)]
[Notices]
[Pages 17932-17933]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07411]
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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, with revision,
the Recordkeeping and Disclosure Requirements Associated with
Regulation CC (FR CC; OMB No. 7100-0235).
DATES: Comments must be submitted on or before June 30, 2025.
ADDRESSES: You may submit comments, identified by FR CC, 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.
[[Page 17933]]
<bullet> Other Means: <a href="/cdn-cgi/l/email-protection#90e0e5f2fcf9f3f3fffdfdf5fee4e3d0f6e2f2bef7ffe6"><span class="__cf_email__" data-cfemail="3a4a4f58565359595557575f544e497a5c4858145d554c">[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 not be 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#620c170a034c070e0f03050a1003000b220410004c050d14"><span class="__cf_email__" data-cfemail="8fe1fae7eea1eae3e2eee8e7fdeeede6cfe9fdeda1e8e0f9">[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 CC.
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, With
Revision, the Following Information Collection
Collection title: Recordkeeping and Disclosure Requirements
Associated with Regulation CC.
Collection identifier: FR CC.
OMB control number: 7100-0235.
General description of collection: Regulation CC requires banks to
make funds deposited in transaction accounts available within specified
time periods, disclose their funds availability policies to customers,
begin accruing interest on such deposits promptly, and provide certain
notices in connection with the nonpayment of certain checks. Regulation
CC also requires banks to provide consumer awareness disclosures and
other notices regarding substitute checks. Regulation CC includes model
disclosure forms, clauses, notices, and commentary to ease compliance
with these requirements.
Proposed revisions: The Board proposes to revise the FR CC to take
into account sections 229.10(c)(3), 229.31(f), and 229.32(d) of
Regulation CC, which contain information collection provisions but had
not been included in previous clearances.
Section 229.10(c)(3) Special Deposit Slip
As a condition to making the funds available for withdrawal not
later than the business day after the banking day on which the funds
are deposited, a depositary bank may require that certain types of
checks be deposited with a special deposit slip or deposit envelope
that identifies the type of check. If a depositary bank requires the
use of a special deposit slip or deposit envelope, the bank must either
provide the special deposit slip or deposit envelope to its customers
or inform its customers how the slip or envelope may be prepared or
obtained and make the slip or envelope reasonably available.
229.31(f) and 229.32(d) Notices of Nonpayment
Paying bank notice in lieu of return--If a check is unavailable for
return, the paying bank may send in its place a copy of the front and
back of the returned check, or, if no such copy is available, a written
notice of nonpayment containing the information specified in section
229.31(c)(2) of Regulation CC.
Returning bank notice in lieu of return--If a check is unavailable
for return, the returning bank may send in its place a copy of the
front and back of the returned check, or, if no such copy is available,
a written notice of nonpayment containing the information specified in
section 229.31(c) of Regulation CC.
Frequency: Event-generated.
Respondents: State member banks and uninsured state branches and
agencies of foreign banks.
Total estimated number of respondents: 668 (except for Special
deposit slip and Notice of changes in policy, 100).
Total estimated change in burden: 25.
Total estimated annual burden hours: 134,352.
Board of Governors of the Federal Reserve System.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-07411 Filed 4-29-25; 8:45 am]
BILLING CODE 6210-01-P
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