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Notice2026-05156

Privacy Act of 1974; System of Records

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Published
March 17, 2026
Effective
April 16, 2026

Issuing agencies

Federal Reserve System

Abstract

Pursuant to the provisions of the Privacy Act of 1974, notice is given that the Board of Governors of the Federal Reserve System (Board) proposes to modify an existing system of records, entitled BGFRS-14, "FRB--General File of Reserve Bank and Branch Directors." BGFRS-14 is a system of records that enables Board staff to develop, implement, and communicate the Board's program regarding Federal Reserve Bank and Branch directors including the appointment of Class C directors and Board-appointed Branch directors; the eligibility, conduct, and service of all directors; the composition of Reserve Bank and Branch boards; and the interactions among the Board and the Federal Reserve Bank and Branch directors.

Full Text

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<title>Federal Register, Volume 91 Issue 51 (Tuesday, March 17, 2026)</title>
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[Federal Register Volume 91, Number 51 (Tuesday, March 17, 2026)]
[Notices]
[Pages 12802-12804]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-05156]


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FEDERAL RESERVE SYSTEM


Privacy Act of 1974; System of Records

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice of a modified system of records.

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SUMMARY: Pursuant to the provisions of the Privacy Act of 1974, notice 
is given that the Board of Governors of the Federal Reserve System 
(Board) proposes to modify an existing system of records, entitled 
BGFRS-14, ``FRB--General File of Reserve Bank and Branch Directors.'' 
BGFRS-14 is a system of records that enables Board staff to develop, 
implement, and communicate the Board's program regarding Federal 
Reserve Bank and Branch directors including the appointment of Class C 
directors and Board-appointed Branch directors; the eligibility, 
conduct, and service of all directors; the composition of Reserve Bank 
and Branch boards; and the interactions among the Board and the Federal 
Reserve Bank and Branch directors.

DATES: Comments must be received on or before April 16, 2026. This new 
system of records will become effective April 16, 2026, without further 
notice, unless comments dictate otherwise. The Office of Management and 
Budget (OMB), which has oversight responsibility under the Privacy Act, 
requires a 30-day period prior to publication in the Federal Register 
in which to review the system and to provide any comments to the 
agency. The public is then given a 30-day period in which to comment, 
in accordance with 5 U.S.C. 552a(e)(4) and (11).

ADDRESSES: You may submit comments, identified by BGFRS-14 ``FRB--
General File of Federal Reserve Bank and Branch Directors,'' by any of 
the following methods:
    <bullet> Agency Website: <a href="https://www.federalreserve.gov/apps/proposals/">https://www.federalreserve.gov/apps/proposals/</a>. Follow the instructions for submitting comments, including 
attachments. Preferred Method.
    <bullet> Mail: Benjamin W. McDonough, 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#fb8b8e99979298989496969e958f88bb9d8999d59c948d"><span class="__cf_email__" data-cfemail="3b4b4e59575258585456565e554f487b5d4959155c544d">[email&#160;protected]</span></a>. You must include the 
docket 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.

FOR FURTHER INFORMATION CONTACT: Alye Foster, Associate General 
Counsel, (202) 452-5289, or <a href="/cdn-cgi/l/email-protection#4425283d216a376a222b37302136042236266a232b32"><span class="__cf_email__" data-cfemail="690805100c471a470f061a1d0c1b290f1b0b470e061f">[email&#160;protected]</span></a>; Legal Division, 
Board of Governors of the Federal Reserve System, 20th Street and 
Constitution Avenue NW, Washington, DC 20551. For users of telephone 
systems via text telephone (TTY) or any TTY-based Telecommunications 
Relay Services, please call 711 from any telephone anywhere in the 
United States.

SUPPLEMENTARY INFORMATION: The Board is modifying BGFRS-14 to update 
the system to expand the system's purpose, the category of individuals 
and records covered by the system, the records source categories, and 
to amend the system-specific routine use. The Board is also taking the 
opportunity to update the system manager contact information, add a 
link to the Board's routine uses, and update the policies and practices 
for storage of Board records.
    BGFRS-14 outlines in its purpose and scope the broad purpose of the 
system, which is that the system facilitates the Board's oversight of 
the conduct and service of Federal Reserve Bank and Branch directors 
(``directors''). Upon reviewing the system, staff determined that while 
``oversight'' is a broad term, the purpose and use of the system could 
be revised to more directly identify matters encompassed by the term 
``oversight.'' Specifically, staff's oversight of the directors 
encompasses matters pertaining to the eligibility, conduct, and service 
related to all directors. It also includes the Board's appointment of 
Class C directors and Board-appointed Branch directors. This oversight 
also includes using the data to analyze the composition of Reserve Bank 
and Branch boards, for example, to track the Board's progress on 
ensuring that these boards include a variety of perspectives, 
backgrounds, and experiences. The data is also used to facilitate 
interactions between the Board and the directors, including through a 
variety of director conferences throughout the year. The Board is 
modifying the purpose of the system to clarify what the system 
encompasses.
    The Board has also determined that its oversight of the directors 
requires the collection of additional information. Specifically, the 
Board will collect information from additional record sources to 
include candidates for director positions in addition to both past and 
present directors. Therefore, the Board is modifying the category of 
records and category of individuals in the system to encompass 
biographical and background information for directors and candidates. 
The Board is also modifying the record sources categories to reflect 
the collection of contact information for director/candidate staff 
assistants and demographic information either on a voluntary basis from 
directors or candidates or from publicly available information.
    The Board is amending the existing system-specific routine use 
because the routine use was incorrectly drafted. Specifically, using 
the records as background information for determining qualifications 
for appointment and recording correspondence concerning such persons 
would not usually involve the disclosure of information outside of the 
Board. The Board is therefore modifying the use to cover only 
disclosures outside of the Board to provide information for news 
releases and other publications and is also

[[Page 12803]]

providing a link to the Board's routine uses.
    The Board is further modifying the system to indicate that the 
Board stores records in electronic form and that remaining paper 
records are now historical records, which the Board will maintain for 
the appropriate retention period. The Board is also updating the 
contact information for the system manager.
    The Board is also making technical changes to BGFRS-14 consistent 
with the template laid out in OMB Circular No. A-108. Accordingly, the 
Board has made technical corrections and non-substantive language 
revisions to the following categories: ``Policies and Practices for 
Storage of Records,'' ``Policies and Practices for Retrieval of 
Records,'' ``Policies and Practices for Retention and Disposal of 
Records,'' ``Administrative, Technical and Physical Safeguards,'' 
``Record Access Procedures,'' ``Contesting Record Procedures,'' and 
``Notification Procedures.'' The Board has also created the following 
new fields: ``Security Classification'' and ``History.''
SYSTEM NAME AND NUMBER:
    BGFRS-14 ``FRB--General File of Federal Reserve Bank and Branch 
Directors''

SECURITY CLASSIFICATION:
    Unclassified.

SYSTEM LOCATION:
    Board of Governors of the Federal Reserve System, 20th Street and 
Constitution Avenue NW, Washington, DC 20551.

SYSTEM MANAGER(S):
    Lila Stitely, Manager, Corporate Governance Oversight, Office of 
the Secretary, 20th Street and Constitution Avenue NW, Washington, DC 
20551, 202-973-7486, or <a href="/cdn-cgi/l/email-protection#4c2025202d6236623f3825382920350c2a3e2e622b233a"><span class="__cf_email__" data-cfemail="35595c59541b4f1b46415c4150594c755347571b525a43">[email&#160;protected]</span></a>.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
    Sections 3, 4, 11 and 21 of the Federal Reserve Act (12 U.S.C. 248, 
302, 485, and 521).

PURPOSE(S) OF THE SYSTEM:
    These records are collected and maintained to facilitate the Board 
in its oversight of the eligibility, conduct, and service of all 
Federal Reserve Bank and Branch directors; the appointment of Class C 
directors and Board-appointed Branch directors; the analysis of the 
composition of Reserve Bank and Branch boards of directors; and 
interactions among the Board and the Federal Reserve Bank and Branch 
directors.

CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
    Candidates for, and past and present directors of, the Federal 
Reserve Banks and their respective Branches, as well as their 
assistants.

CATEGORIES OF RECORDS IN THE SYSTEM:
    Biographical, background, and contact information for Federal 
Reserve Bank and Branch directors and candidates and other 
miscellaneous documentation (e.g., oaths of office, resignations) and 
correspondence regarding the conduct and service of Federal Reserve 
Bank and Branch directors. The system may also include contact 
information for assistants to candidates and Bank and Branch directors. 
The Board may collect demographic information from publicly available 
information or on a voluntary basis from director candidates and 
directors.

RECORD SOURCE CATEGORIES:
    Information is provided by the candidate or director to whom the 
record pertains, Federal Reserve Bank staff, candidate and director 
assistants, and publicly available information obtained by Board staff. 
Information is also provided by certain third parties, such as news and 
other information databases, on director candidates.

ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES 
OF USERS AND PURPOSES OF SUCH USES:
    General routine uses A, C, D, G, I, and J apply to this system. 
These general routine uses are located at <a href="https://www.federalreserve.gov/files/SORN-page-general-routine-uses-of-board-systems-of-records.pdf">https://www.federalreserve.gov/files/SORN-page-general-routine-uses-of-board-systems-of-records.pdf</a> and are published in the Federal Register at 83 
FR 43872 at 43873-74 (August 28, 2018). Records may be disclosed in 
order to provide information for news releases and other publications.

POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
    Historical paper records in this system are stored in file folders 
with access limited to staff with a need-to-know. Electronic records 
are stored on a secure server with access limited to staff with a need-
to-know.

POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
    Records can be retrieved by name.

POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
    Records pertaining to past and present directors, including 
potential directors who are recommended for Board consideration, are 
retained for at least five years after the annual cutoff, and may be 
retained longer, if necessary for administrative or reference purposes. 
Records pertaining to candidates who are not recommended for Board 
consideration may be destroyed when no longer needed.

ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
    Access to records is limited to those whose official duties require 
it. Paper records in this system are stored in file folders with access 
limited to staff with a need-to-know. The system has the ability to 
track individual user actions. The audit and accountability controls 
are based on National Institute of Standards and Technology (NIST) and 
Board standards, which, in turn, are based on applicable laws and 
regulations. The controls assist in detecting security violations and 
performance or other issues in the system. Access to the system is 
restricted to authorized users within the Board and Federal Reserve 
System who require access for official business purposes. Users are 
classified into different roles and common access and usage rights are 
established for each role. User roles are used to delineate between the 
different types of access requirements such that users are restricted 
to data that is required in the performance of their duties. Periodic 
assessments and reviews are conducted to determine whether users still 
require access, have the appropriate role, and whether there have been 
any unauthorized changes.

RECORD ACCESS PROCEDURES:
    The Privacy Act allows individuals the right to access records 
maintained about them in a Board system of records. Your request for 
access must: (1) contain a statement that the request is made pursuant 
to the Privacy Act of 1974; (2) provide either the name of the Board 
system of records expected to contain the record requested or a concise 
description of the system of records; (3) provide the information 
necessary to verify your identity; and (4) provide any other 
information that may assist in the rapid identification of the record 
you seek.
    Current or former Board employees may make a request for access by 
contacting the Board office that maintains the record. The Board 
handles all Privacy Act requests as both a Privacy Act request and as a 
Freedom of Information Act request. The Board does not charge fees to a 
requestor seeking to access or amend his/her Privacy Act records.
    You may submit your Privacy Act request to the--Secretary of the 
Board,

[[Page 12804]]

Board of Governors of the Federal Reserve System, 20th Street and 
Constitution Avenue NW, Washington, DC 20551.
    You may also submit your Privacy Act request electronically by 
filling out the required information at: <a href="https://foia.federalreserve.gov/">https://foia.federalreserve.gov/</a>.

CONTESTING RECORD PROCEDURES:
    The Privacy Act allows individuals to seek amendment of information 
that is erroneous, irrelevant, untimely, or incomplete and is 
maintained in a system of records that pertains to them. To request an 
amendment to your record, you should clearly mark the request as a 
``Privacy Act Amendment Request.'' You have the burden of proof for 
demonstrating the appropriateness of the requested amendment and you 
must provide relevant and convincing evidence in support of your 
request.
    Your request for amendment must: (1) provide the name of the 
specific Board system of records containing the record you seek to 
amend; (2) identify the specific portion of the record you seek to 
amend; (3) describe the nature of and reasons for each requested 
amendment; (4) explain why you believe the record is not accurate, 
relevant, timely, or complete; and (5) unless you have already done so 
in a related Privacy Act request for access or amendment, provide the 
necessary information to verify your identity.

NOTIFICATION PROCEDURES:
    Same as ``Access procedures'' above. You may also follow this 
procedure in order to request an accounting of previous disclosures of 
records pertaining to you as provided for by 5 U.S.C. 552a(c).

EXEMPTIONS PROMULGATED FOR THE SYSTEM:
    Certain portions of this system of records may be exempt from 5 
U.S.C. 552a(c)(3), (d), (e)(1), (e)(4)(G), (H), and (I), and (f) of the 
Privacy Act pursuant to 5 U.S.C. 552a(k)(5).

HISTORY:
    This SORN was previously published in the Federal Register at 73 FR 
24984 at 24997 (May 6, 2008). The SORN was also amended to incorporate 
two new routine uses required by OMB at 83 FR 43872 (August 28, 2018).

Board of Governors of the Federal Reserve System.
Benjamin W. McDonough,
Secretary of the Board.
[FR Doc. 2026-05156 Filed 3-16-26; 8:45 am]
BILLING CODE 6210-01-P


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