[Federal Register Volume 80, Number 17 (Tuesday, January 27, 2015)]
[Notices]
[Pages 4266-4267]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-00860]
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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
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 extension of a currently
approved collection of information related to its authority to
determine that certain nonbank financial companies shall be subject to
supervision by the Board of Governors of the Federal Reserve System
(Board of Governors) and enhanced prudential standards. Section 113 of
the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
``Dodd-Frank Act'') provides the Council the authority to determine
that a nonbank financial company shall be subject to Board of Governors
supervison and enhanced prudential standards if the Council determines
that material financial stress at the nonbank financial company, or the
nature, scope, size, scale, concentration,
[[Page 4267]]
interconnectedness, or the mix of activities of the nonbank financial
company, could pose a threat to financial stability. On April 11, 2012,
the Council published in the Federal Register a final rule and
interpretive guidance (77 FR 21637), 12 CFR part 1310, that describe
the manner in which the Council intends to apply the statutory
standards and considerations, and the processes and procedures the
Council intends to follow, in making determinations under Section 113
of the Dodd-Frank Act. The Council has made final determinations
regarding four nonbank financial companies. The Council uses
information collected under 12 CFR 1310.20 to assess whether a nonbank
financial company meets the standards for a Council determination under
Section 113 of the Dodd-Frank Act. The collection of information under
12 CFR 1310.21 affords a nonbank financial company an opportunity to
submit materials to contest the Council's consideration of the company
for a proposed determination and to contest a proposed determination.
The collection of information in 12 CFR 1310.22 provides a nonbank
financial company an opportunity to contest the Council's waiver or
modification of the notice or other procedural requirements contained
in 12 CFR 1310.21 by requesting a hearing. The Council uses information
collected under 12 CFR 1310.23 in a reevaluation of its determination
regarding a nonbank financial company subject to a Council
determination.
DATES: Written comments must be received on or before March 30, 2015 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 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: Determinations Regarding Certain Nonbank Financial
Companies.
OMB Control Number: 1505-0244.
Abstract: The Council uses information collected under 12 CFR
1310.20 to assess whether a nonbank financial company meets the
standards for a Council determination under Section 113 of the Dodd-
Frank Act. The collection of information under 12 CFR 1310.21 affords a
nonbank financial company an opportunity to submit materials to contest
the Council's consideration of the company for a proposed determination
and to contest a proposed determination. The collection of information
in 12 CFR 1310.22 provides a nonbank financial company an opportunity
to contest the Council's waiver or modification of the notice or other
procedural requirements contained in 12 CFR 1310.21 by requesting a
hearing. The Council uses information collected under 12 CFR 1310.23 in
its reevaluation of a determination regarding a nonbank financial
company subject to a Council determination.
Type of Review: Extension of a currently approved collection.
Affected Public: Nonbank financial companies.
Estimated Total Annual Burden Hours for all Collections: 500 hours.
Request for Comments: Comments submitted in response to this notice
will be summarized 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; and (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.
David G. Clunie,
Executive Secretary.
[FR Doc. 2015-00860 Filed 1-26-15; 8:45 am]
BILLING CODE 4810-25-P-P