[Federal Register Volume 78, Number 28 (Monday, February 11, 2013)]
[Notices]
[Pages 9691-9694]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-02922]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Background. On June 15, 1984, the Office of Management and
Budget (OMB) delegated to the Board of Governors of the Federal Reserve
System (Board) its approval authority under the Paperwork Reduction Act
(PRA), pursuant to 5 CFR 1320.16, to approve of and assign OMB control
numbers to collection of information requests and requirements
conducted or sponsored by the Board under conditions set forth in 5 CFR
part 1320 Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the Paperwork Reduction Act
Submission, supporting statements, and approved collection of
information instruments are placed into OMB's public docket files. The
Federal Reserve may not conduct or sponsor, and the respondent is not
required to respond to, an information collection that has been
extended, revised, or implemented on or after October 1, 1995, unless
it displays a currently valid OMB control number.
DATES: Comments must be submitted on or before April 12, 2013.
ADDRESSES: You may submit comments, identified by FR G-FIN, FR G-FINW,
FR
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MSD-4, FR MSD-5, FR 4004, or FR 4198, by any of the following methods:
Agency Web site: www.federalreserve.gov. Follow the
instructions for submitting comments at www.federalreserve.gov/apps/foia/proposedregs.aspx.
Federal eRulemaking Portal: www.regulations.gov. Follow
the instructions for submitting comments.
Email: [email protected]. Include the OMB
control number in the subject line of the message.
FAX: 202-452-3819 or 202-452-3102.
Mail: Robert deV. Frierson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue NW.,
Washington, DC 20551.
All public comments are available from the Board's Web site at
www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, unless
modified for technical reasons. Accordingly, your comments will not be
edited to remove any identifying or contact information. Public
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between
9:00 a.m. and 5:00 p.m. on weekdays.
Additionally, commenters may send a copy of their comments to the
OMB Desk Officer--Shagufta Ahmed--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: A copy of the PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be made
available on the Federal Reserve Board's public Web site at:
www.federalreserve.gov/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears below.
Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division
of Research and Statistics, Board of Governors of the Federal Reserve
System, Washington, DC 20551 (202) 452-3829. Telecommunications Device
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors
of the Federal Reserve System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Request for Comment on Information Collection Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve'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 start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, With Minor Revision, the Following Report
Report title: Uniform Application for Municipal Securities
Principal or Municipal Securities Representative Associated with a Bank
Municipal Securities Dealer; Uniform Termination Notice for Municipal
Securities Principal or Municipal Securities Representative Associated
with a Bank Municipal Securities Dealer.
Agency form number: FR MSD-4; FR MSD-5.
OMB control number: 7100-0100; 7100-0101.
Frequency: On occasion.
Reporters: State member banks, bank holding companies, and foreign
dealer banks that are municipal securities dealers.
Estimated annual reporting hours: FR MSD-4, 20 hours; FR MSD-5, 13
hours.
Estimated average hours per response: FR MSD-4, 1 hour; FR MSD-5,
0.25 hours.
Number of respondents: FR MSD-4, 20; FR MSD-5, 50.
General description of report: These information collections are
mandatory pursuant to the Federal Reserve Act (12 U.S.C. 248(a)(1)) for
state member banks and (12 U.S.C. 3105(c)(2)) for foreign bank branches
and agencies. Sections 15B(a)-(b) and 17 of the Securities Exchange Act
(the Act) (15 U.S.C 78o-4(a)-(b) and 78q) authorize the Securities
Exchange Commission (SEC) and Municipal Securities Rulemaking Board
(MSRB) to promulgate rules requiring municipal security dealers to file
reports about associated persons with the SEC and the appropriate
regulatory agencies (ARAs). In addition, Section 15B(c) of the Act
provides that ARAs may enforce compliance with the SEC's and MSRB's
rules. 15 U.S.C. 78o-4(c). Section 23(a) of the Act also authorizes the
SEC, the Federal Reserve Board, and the other ARAs to make rules and
regulations in order to implement the provisions of the Act. 15 U.S.C.
78w(a). The Federal Reserve Board is the ARA for municipal securities
dealers that are state member banks and their divisions or departments,
and for state branches or agencies of foreign banks that engage in
municipal security dealer activities. 15 U.S.C. 78c(a)(34)(A)(ii).
Accordingly, the Federal Reserve Board's collection of Form MSD-4 and
MSD-5 for these institutions is authorized pursuant to 15 U.S.C. 78o-4,
78q, and 78w. Under the Freedom of Information Act, the Federal Reserve
Board regards the information provided by each respondent as
confidential (5 U.S.C. 552(b)(6)).
Abstract: These mandatory information collections are submitted on
occasion by state member banks (SMBs), bank holding companies (BHCs),
and foreign dealer banks that are municipal securities dealers. The FR
MSD 4 collects information (such as personal history and professional
qualifications) on an employee whom the bank wishes to assume the
duties of municipal securities principal or representative. The FR MSD
5 collects the date of, and reason for, termination of such an
employee.
Current Actions: On September 13, 2011, the MSRB (MSRB Notice 2011-
54) announced the creation of a new designation of registered person--
Municipal Securities Sales Limited Representative--which is a sub-
category of Municipal Securities Representative. To conform to MSRB
Notice 2011-54, the Federal Reserve proposes to make a minor revision
to the FR MSD-4 to add the Municipal Securities Sales Limited
Representative as a new type of qualification. The proposed reporting
form, in all other respects, would preserve the structure of the
current reporting form. Changes to the FR MSD-5 are not required at
this time.
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Proposals To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Reports
1. Report title: Written Security Program for State Member Banks.
Agency form number: FR 4004.
OMB control number: 7100-0112.
Frequency: On occasion.
Reporters: State member banks.
Estimated annual reporting hours: 22 hours.
Estimated average hours per response: 0.5 hours.
Number of respondents: 44.
General description of report: This recordkeeping requirement is
mandatory pursuant to section 3 of the Bank Protection Act (12 U.S.C.
1882(a)) and Regulation H (12 CFR 208.61). Because written security
programs are maintained at state member banks, no issue of
confidentiality under the Freedom of Information Act normally arises.
However, copies of such documents included in examination work papers
would, in such form, be confidential pursuant to exemption 8 of the
Freedom of Information Act (5 U.S.C. 552(b)(8)). In addition, the
records may also be exempt from disclosure under exemption 4 of the
Freedom of Information Act (5 U.S.C. 552(b)(4)).
Abstract: Each state member bank must develop and implement a
written security program and maintain it in the bank's records. There
is no formal reporting form and the information is not submitted to the
Federal Reserve.
2. Report title: Notice by Financial Institutions of Government
Securities Broker or Government Securities Dealer Activities; Notice by
Financial Institutions of Termination of Activities as a Government
Securities Broker or Government Securities Dealer.
Agency form number: FR G-FIN; FR G-FINW.
OMB control number: 7100-0224.
Frequency: On occasion.
Reporters: State member banks, foreign banks, uninsured state
branches or state agencies of foreign banks, commercial lending
companies owned or controlled by foreign banks, and Edge corporations.
Estimated annual reporting hours: 5 hours.
Estimated average hours per response: FR G-FIN, 1 hour; FR G-FINW,
0.25 hour.
Number of respondents: FR G-FIN, 4; FR G-FINW, 2.
General description of report: These information collections are
mandatory pursuant to the Securities and Exchange Act of 1934 (15
U.S.C. 78o-5(a)(1)(B)) which requires a financial institution that is a
broker or dealer of government securities dealer to notify the ARA that
it is a government securities broker or a government securities dealer,
or that it has ceased to act as such. In addition, 15 U.S.C. 78o-
5(b)(1) directs the Treasury to adopt rules requiring every government
securities broker and government securities dealer to collect
information and to provide reports to the applicable ARA, and 15 U.S.C.
78o-5(c)(2)(B) authorizes ARAs to enforce compliance with the
Treasury's rules. The Federal Reserve Board is an ARA. 15 U.S.C.
78c(a)(34)(G)(ii). Respondents file two copies of the notices directly
with the Federal Reserve Board. Under the statute, the Federal Reserve
Board forwards one copy to the SEC, and the notices are then made
public by the SEC. 15 U.S.C. 78o-5(a)(l)(B)(iii). While the statute
only requires the SEC to produce the notices to the public, the notices
are also available to the public upon request made to the Federal
Reserve Board. Accordingly, the Federal Reserve Board does not consider
these data to be confidential.
Abstract: The Government Securities Act of 1986 (the Act) requires
financial institutions to notify their ARA of their intent to engage in
government securities broker or dealer activity, to amend information
submitted previously, and to record their termination of such activity.
The Federal Reserve is the ARA for state member banks, foreign banks,
uninsured state branches or state agencies of foreign banks, commercial
lending companies owned or controlled by foreign banks, and Edge
corporations. The Federal Reserve uses the information in its
supervisory capacity to measure compliance with the Act.
3. Report title: Funding and Liquidity Risk Management Guidance.
Agency form number: FR 4198.
OMB control number: 7100-0326.
Frequency: Funding and liquidity risk management guidance,
Annually; Liquidity risk reports, monthly.
Reporters: Bank holding companies, state member banks, branches and
agencies of foreign banking organizations, Edge and agreement
corporations, and savings and loan holding companies.
Estimated annual reporting hours: Funding and liquidity risk
management guidance, Large institutions, 25,920 hours; mid-sized
institutions, 28,080 hours; small institutions, 520,720 hours;
Liquidity risk reports, 317,520 hours.
Estimated average hours per response: Funding and liquidity risk
management guidance, large institutions, 720 hours; mid-sized
institutions, 240 hours; small institutions, 80 hours; Liquidity risk
reports, 4 hours.
Number of respondents: Funding and liquidity risk management
guidance, Large institutions, 36; mid-sized institutions, 117; small
institutions, 6,509 ; Liquidity risk reports, 6,615.
General description of report: The Guidance is mandatory based on
the following relevant statutory provisions.
Section 9(6) of the Federal Reserve Act (12 U.S.C. 324)
requires state member banks to make reports of condition to their
supervising Reserve Bank in such form and containing such information
as the Board may require.
Section 5(c) of the Bank Holding Company Act (12 U.S.C.
1844(c)) requires a BHC and any subsidiary to keep the Board informed
as to its financial condition, [and] systems for monitoring and
controlling financial and operating risks.
Section 7(c)(2) of the International Banking Act of 1978
(12 U.S.C. 3105(c)(2)) requires branches and agencies of foreign
banking organizations to file reports of condition with the Federal
Reserve to the same extent and in the same manner as if the branch or
agency were a state member bank.
Section 25A of the Federal Reserve Act (12 U.S.C. 625)
requires Edge and agreement corporations to make reports to the Board
at such time and in such form as it may require.
Section 312 of the Dodd-Frank Act (12 U.S.C. 5412)
succeeded to the Board all powers of the OTS and its Director,
including the Director's authority to require SLHCs to ``maintain such
books and records as may be prescribed by the Director.'' The original
source for the authority of the OTS Director to examine S&Ls and SLHCs
is contained in 12 U.S.C. 1467a(b)(3) of the Home Owners' Loan Act.
Because the records required by the Guidance are maintained at the
institution, issues of confidentiality would not normally arise. Should
the documents be obtained during the course of an examination, such
information may be withheld from the public under the authority of the
Freedom of Information Act, 5 U.S.C. 552 (b)(8). In addition, some or
all of the information may be ``commercial or financial information''
protected from disclosure under 5 U.S.C. 552(b)(4).
Abstract: The Guidance summarizes the principles of sound liquidity
risk management that the Office of the Comptroller of the Currency, the
Federal Reserve, the Federal Deposit Insurance Corporation, and the
National Credit Union Administration (the agencies), have issued in the
past and, where
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appropriate, brings them into conformance with the ``Principles for
Sound Liquidity Risk Management and Supervision'' issued by the Basel
Committee on Banking Supervision (BCBS) in September 2008. While the
BCBS liquidity principles primarily focuses on large internationally
active financial institutions, the Guidance emphasizes supervisory
expectations for all domestic financial institutions including banks,
thrifts and credit unions.
Two sections of the Guidance that fall under the definition of an
information collection. Section 14 states that institutions should
consider liquidity costs, benefits, and risks in strategic planning and
budgeting processes. Section 20 requires that liquidity risk reports
provide aggregate information with sufficient supporting detail to
enable management to assess the sensitivity of the institution to
changes in market conditions, its own financial performance, and other
important risk factors.
Board of Governors of the Federal Reserve System, February 5,
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-02922 Filed 2-8-13; 8:45 am]
BILLING CODE 6210-01-P