[Federal Register Volume 78, Number 136 (Tuesday, July 16, 2013)]
[Notices]
[Pages 42521-42522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-16906]
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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: Notice is hereby given of the final approval of proposed
information collections by the Board of Governors of the Federal
Reserve System (Board) under OMB delegated authority, as per 5 CFR
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). 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.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer--Cynthia Ayouch--Office of the
Chief Data Officer, 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.
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.
Final approval under OMB delegated authority of the extension for
three
[[Page 42522]]
years, without revision, of the following report:
Report title: Reporting and Disclosure Requirements Associated with
the Policy on Payments System Risk.
Agency form number: FR 4102.
OMB control number: 7100-0315.
Frequency: Biennial.
Reporters: Payment and securities settlement systems.
Annual reporting hours: 210 hours.
Estimated average hours per response: 70 hours.
Number of respondents: 3.
General description of report: The Federal Reserve has determined
that sections 11(i) & (j), 13, 16, and 19(f) of the Federal Reserve Act
authorize the Board to exercise general supervision of the Reserve
Banks, to make rules and regulations to perform effectively its duties
and functions, and to determine and regulate fees charged by member or
nonmember banks for the collection or payment of checks, among other
things (12 U.S.C. 248(i) & (j), 248-1, 342, 360, and 464).
Additionally, depending upon the individual institution, the
information collection may be authorized under a more specific statute.
Specifically, the Board is authorized to collect information from state
member banks under section 9 of the Federal Reserve Act (12 U.S.C.
Sec. 324); from bank holding companies (and their subsidiaries) under
section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)); from
savings and loan holding companies under 12 U.S.C. 1467a(b)(3) and
5412; from Edge and agreement corporations under sections 25 and 25A of
the Federal Reserve Act (12 U.S.C. 602 and 625); and from U.S. branches
and agencies of foreign banks under section 7(c)(2) of the
International Banking Act of 1978 (12 U.S.C. 3105(c)(2)), and under
section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)).
Together, these statutory provisions provide the legal authorization
for the reporting and disclosure requirements associated with the FR
4102. Because the self-assessments are to be publicly disclosed and
because the Federal Reserve will not collect any information pursuant
to this information collection beyond what is made publicly available,
no confidentiality issue arises with regard to the FR 4102. The
reporting and disclosure requirements of the FR 4102 are mandatory.
Abstract: The FR 4102 was implemented in January 2007 as a result
of revisions to the Federal Reserve's Policy on Payment System Risk
(PSR policy). Under the revised policy, systemically important payment
and settlement systems as determined by the Board at that time and
subject to the Federal Reserve's authority are expected to complete and
disclose publicly self-assessments against the principles and minimum
standards in the policy. The self-assessment should be reviewed and
approved by the system's senior management and board of directors upon
completion and made readily available to the public. In addition, a
self-assessment should be updated following material changes to the
system or its environment and, at a minimum, reviewed by the system
every two years.
Current actions: On April 18, 2013, the Federal Reserve published a
notice in the Federal Register (78 FR 23253) seeking public comment for
60 days on the extension, without revision, of the FR 4102. The comment
period for this notice expired on June 17, 2013. The Federal Reserve
did not receive any comments.
Final approval under OMB delegated authority of the extension for
three years, with revision, of the following report:
Report title: Transfer Agent Registration and Amendment Form.
Agency form number: FR TA-1.
OMB control number: 7100-0099.
Frequency: On occasion.
Reporters: State member banks (SMBs) and their subsidiaries, bank
holding companies (BHCs), certain nondeposit trust company subsidiaries
of BHCs, and savings and loan holding companies (SLHCs).
Annual reporting hours: 4 hours.
Estimated average time per response: Registrations: 1.25 hours;
Amendments: 10 minutes.
Number of respondents: Registrations: 2; Amendments: 4.
General description of report: The FR TA-1 is mandatory and that
its collection is authorized by sections 17A(c), 17(a)(3), and 23(a)(1)
of the Securities Exchange Act of 1934 (the Act), as amended (15 U.S.C.
78q-1(c), 78q(a)(3), and 78w(a)(1)). Additionally, Section
3(a)(34)(B)(ii) of the Act (15 U.S.C. 78c(a)(34)(B)(ii)) provides that
the Board is the appropriate regulatory agency for purposes of various
filings by SMBs and their subsidiaries, BHCs, SLHCs and certain
nondepository trust company subsidiaries of BHCs that act as a clearing
agency or transfer agent. The registrations are public filings and are
not considered confidential.
Abstract: The Act requires any person acting as a transfer agent to
register as such and to amend registration information when it changes.
SMBs and their subsidiaries, BHCs, and certain nondeposit trust company
subsidiaries of BHCs register with the Federal Reserve System by
submitting Form TA-1. The information collected is available to the
public upon request and includes the company name, all business
addresses, and several questions about the registrant's proposed
activities as a transfer agent.
Current Actions: On April 18, 2013, the Federal Reserve published a
notice in the Federal Register (78 FR 23253) seeking public comment for
60 days on the extension, with revision, of the FR TA-1. The comment
period for this notice expired on June 17, 2013. The Federal Reserve
did not receive any comments. The revision will be implemented as
proposed.
Board of Governors of the Federal Reserve System, July 10, 2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-16906 Filed 7-15-13; 8:45 am]
BILLING CODE 6210-01-P