[Federal Register Volume 79, Number 101 (Tuesday, May 27, 2014)]
[Notices]
[Pages 30145-30146]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-12181]
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FINANCIAL STABILITY OVERSIGHT COUNCIL
Proposed Collections; Comment Requests
ACTION: Notice and request for comments.
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SUMMARY: The Financial Stability Oversight Council (the ``Council'')
invites members of the public and affected agencies to comment on
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). The Council is soliciting comments concerning its
collection of information related to its authority to designate
financial market utilities as systemically important. Section 804 of
the Dodd-Frank Wall Street Reform and Consumer Protection (the ``Dodd-
Frank Act'') provides the Council the authority to designate a
financial market utility (``FMU'') that the Council determines is or is
likely to become systemically important because the failure of or a
disruption to the functioning of the FMU could create, or increase, the
risk of significant liquidity or credit problems spreading among
financial institutions or markets and thereby threaten the stability of
the United States financial system. On July 27, 2011, the Council
published in the Federal Register a final rule (12 CFR part 1320) that
describes the criteria that will inform and the processes and
procedures established under the Dodd-Frank Act for the Council's
designation of FMUs as systemically important under the Dodd-Frank Act.
On July 18, 2012, the Council designated eight FMUs as systemically
important under Title VIII of the Dodd-Frank Act. The collection of
information under 12 CFR 1320.11 affords FMUs that are under
consideration for designation, or rescission of designation, an
opportunity to submit written materials to the Council in support of,
or in opposition to, designation or rescission of designation. The
collection of information under 12 CFR 1320.12 affords FMUs an
opportunity to contest a proposed determination of the Council by
requesting a hearing and submitting written materials (or, at the sole
discretion of the Council, oral testimony and oral argument). The
collection of information in 12 CFR 1320.14 affords FMUs an opportunity
to contest the Council's waiver or modification of the notice, hearing,
or other requirements contained in 12 CFR 1320.11 and 1320.12 by
requesting a hearing and submitting written materials (or, at the sole
discretion of the Council, oral testimony and oral argument). The
information collected from FMUs under 12 CFR 1320.20 will be used by
the Council to determine whether to designate an additional FMU or to
rescind the designation of a designated FMU.
DATES: Written comments must be received on or before July 28, 2014 to
be assured of consideration.
ADDRESSES: You may submit comments by any of the following methods:
Mail: Attn: Request for Comments (Financial Stability Oversight
Council Proposed Information Collection), Office of the Financial
Stability Oversight Council, Department of the Treasury, 1500
Pennsylvania Avenue NW., Washington, DC 20220.
Electronic Submission: [email protected]
Instructions: All submissions received must include the agency name
and the Federal Register document number that appears at the end of
this document. Comments received will be made available to the public
via regulations.gov or upon request, without change, and including any
personal information provided.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
about the filings or procedures should be directed to Executive
Director, Financial Stability Oversight Council, Department of the
Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220.
SUPPLEMENTARY INFORMATION:
Title: Designation of Financial Market Utilities
OMB Control Number: 1505-0239
Abstract: The collection of information under 12 CFR 1320.11
affords FMUs that are under consideration for designation, or
[[Page 30146]]
rescission of designation, an opportunity to submit written materials
to the Council in support of, or in opposition to, designation or
rescission of designation. The collection of information under 12 CFR
1320.12 affords FMUs an opportunity to contest a proposed determination
of the Council by requesting a hearing and submitting written materials
(or, at the sole discretion of the Council, oral testimony and oral
argument). The collection of information in 12 CFR 1320.14 affords FMUs
an opportunity to contest the Council's waiver or modification of the
notice, hearing, or other requirements contained in 12 CFR 1320.11 and
1320.12 by requesting a hearing and submitting written materials (or,
at the sole discretion of the Council, oral testimony and oral
argument). The information collected from FMUs under 12 CFR 1320.20
will be used by the Council to determine whether to designate an
additional FMU or to rescind the designation of a designated FMU.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit and not-for-profit
organization
Estimated Total Annual Burden Hours for All Collections: 500 hours
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information has practical utility; (b) the accuracy of the agency's
estimate of the burden of the collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; (d) ways to minimize the burden of the collection of
information 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.
David G. Clunie,
Executive Secretary.
[FR Doc. 2014-12181 Filed 5-23-14; 8:45 am]
BILLING CODE 4810-25-P