Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices 9939 

1 12 U.S.C. 1844(c). 

2 12 U.S.C. 602 and 625. 

3 5 U.S.C. 552(b)(8). 4 5 U.S.C. 552(b)(4). 

screening in order to inspect and 

photocopy comments. 

Additionally, commenters may send a 

copy of their comments to the Office of 

Management and Budget (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: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, Washington, DC 20551, (202) 

452–3829. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. In exercising 

this delegated authority, the Board is 

directed to take every reasonable step to 

solicit comment. In determining 

whether to approve a collection of 

information, the Board will consider all 

comments received from the public and 

other agencies. 

A copy of the Paperwork Reduction 

Act (PRA) OMB submission, including 

the reporting form and instructions, 

supporting statement, and other 

documentation will be available at 

https://www.reginfo.gov/public/do/ 

PRAMain, if approved. These 

documents will also be made available 

on the Board’s public website at https:// 

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Request for Comment on Information 

Collection Proposal 

The Board invites public comment on 

the following information collection, 

which is being reviewed under 

authority delegated by the OMB under 

the PRA. Comments are invited on the 

following: 

a. Whether the proposed collection of 

information is necessary for the proper 

performance of the Board’s functions, 

including whether the information has 

practical utility; 

b. The accuracy of the Board’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 startup costs 

and costs of operation, maintenance, 

and purchase of services to provide 

information. 

At the end of the comment period, the 

comments and recommendations 

received will be analyzed to determine 

the extent to which the Board should 

modify the proposal. 

Proposal Under OMB Delegated 

Authority To Extend for Three Years, 

Without Revision, the Following 

Information Collection 

Report title: Recordkeeping 

Requirements Associated with Changes 

in Foreign Investments (Made Pursuant 

to Regulation K). 

Agency form number: FR 2064. 

OMB control number: 7100–0109. 

Frequency: On occasion. 

Respondents: Internationally active 

U.S. banking organizations (member 

banks, Edge Act and agreement 

corporations, and bank holding 

companies). 

Estimated number of respondents: 20. 

Estimated average hours per response: 

2. 

Estimated annual burden hours: 160. 

General description of report: This 

collection concerns internal records that 

internationally active U.S. banking 

organizations (such as internationally 

active member banks, Edge Act and 

agreement corporations, and bank 

holding companies) should maintain to 

demonstrate compliance with the 

investment provisions contained in 

Subpart A of Regulation K— 

International Banking Operations. 

Legal authorization and 

confidentiality: The FR 2064 is 

authorized pursuant to section 5(c) of 

the Bank Holding Company Act; 1 and 

sections 25(7) and 25A(17) of the 

Federal Reserve Act.2 The institutions’ 

obligation to retain the records is 

mandatory. 

The records related to the FR 2064 are 

retained at banking organizations. 

However, in the event the records are 

obtained by the Board as part of an 

examination or supervision of a 

financial institution, this information 

may be considered confidential 

pursuant to exemption 8 of the Freedom 

of Information Act (FOIA), which 

protects information contained in 

‘‘examination, operating, or condition 

reports’’ obtained in the bank 

supervisory process.3 Additionally, to 

the extent that such information 

obtained by the Board constitutes 

nonpublic commercial or financial 

information, which is both customarily 

and actually treated as private by the 

financial institution, the financial 

institution may request confidential 

treatment pursuant to exemption 4 of 

FOIA.4

Board of Governors of the Federal Reserve 

System, February 10, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–03092 Filed 2–16–21; 8:45 am] 

BILLING CODE 6210–01–P 

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: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, without revision, the 

Recordkeeping, Disclosure, and 

Reporting Requirements Associated 

with Securities Transactions Pursuant to 

Sections 208.34(c), (d), and (g) of 

Regulation H (FR H–3; OMB No. 7100– 

0196). 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, Washington, DC 20551, (202) 

452–3829. Office of Management and 

Budget (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. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https:// 

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 


jbell on DSKJLSW7X2PROD with NOTICES
9940 Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices 

1 12 U.S.C. 78o–5(a), (d). 

2The requirements of section 208.34 of 

Regulation H apply to all SMBs that effect more 

than 500 government securities brokerage 

transactions per year, unless the institution has 

filed a written notice, or is required to file notice, 

with the Board that it acts as a government 

securities broker or a government securities dealer. 

These requirements also do not apply to activities 

of foreign branches of SMBs; activities of 

nonmember, non-insured trust company 

subsidiaries of bank holding companies; or 

activities that are subject to regulations 

promulgated by the Municipal Securities 

Rulemaking Board. In addition, SMBs with an 

annual average of less than 200 securities 

transactions for customers over the prior three 

calendar years (exclusive of transactions in U.S. 

government and agency obligations) are exempt 

from these Regulation H recordkeeping, disclosure, 

and reporting requirements. See 12 CFR 

208.34(a)(1)(i)–(iv). 

3 15 U.S.C. 78w. The Board also has the authority 

to require reports from SMBs (12 U.S.C. 248(a) and 

324). 

4 5 U.S.C. 552(b)(8). 

5 5 U.S.C. 552(b)(4). 

the Federal Reserve Board’s public 

website at https://

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection: 

Report title: Recordkeeping, 

Disclosure, and Reporting Requirements 

Associated with Securities Transactions 

Pursuant to Sections 208.34(c), (d), and 

(g) of Regulation H. 

Agency form number: FR H–3. 

OMB control number: 7100–0196. 

Frequency: Event-generated, 

quarterly. 

Respondents: State member banks 

(SMBs), SMB officers/employees. 

Estimated number of respondents: 

SMBs (de novo): 1; SMBs with trust 

departments: 209; SMBs without trust 

departments: 545; SMB officers/ 

employees: 2,389. 

Estimated average hours per response: 

SMBs (de novo): recordkeeping, 40 

hours. SMBs with trust departments: 

recordkeeping, 2 hours; disclosure, 16 

hours. SMBs without trust departments: 

recordkeeping, 15 minutes; disclosure, 5 

hours. SMB officers/employees: 

reporting, 2 hours. 

Estimated annual burden hours: 

SMBs (de novo): recordkeeping, 40 

hours. SMBs with trust departments: 

recordkeeping, 10,032 hours; disclosure, 

40,128 hours. SMBs without trust 

departments: recordkeeping, 3,815 

hours; disclosure, 32,700 hours. SMB 

officers/employees: reporting, 19,112 

hours. 

General description of report: Section 

15C of the Securities Exchange Act of 

1934 (the Act), establishes federal 

regulation of brokers and dealers of 

government securities, including banks 

and other financial institutions, and 

directs those brokers and dealers to keep 

certain records.1 These requirements are 

implemented for SMBs by sections 

208.34(c), (d), and (g) of the Board’s 

Regulation H, which require that nonexempt state member banks 2 effecting 

securities transactions for customers 

establish and maintain a system of 

records of these transactions, furnish 

confirmations of transactions to 

customers that disclose certain 

information, and establish written 

policies and procedures relating to 

securities trading. 

Legal authorization and 

confidentiality: FR H–3 is authorized 

pursuant to Section 23 of the Act,3

which empowers the Board to make 

rules and regulations implementing 

those portions of the Act for which it is 

responsible. Because these records and 

disclosures would be maintained at 

each banking organization, the Freedom 

of Information Act (FOIA) would only 

be implicated if the Board obtained such 

records as part of the examination or 

supervision of a banking organization. 

In the event the records are obtained by 

the Board as part of an examination or 

supervision of a financial institution, 

this information may be considered 

confidential pursuant to exemption 8 of 

the FOIA, which protects information 

contained in ‘‘examination, operating, 

or condition reports’’ obtained in the 

bank supervisory process.4 In addition, 

the information may also be kept 

confidential under exemption 4 for the 

FOIA, which protects commercial or 

financial information obtained from a 

person that is privileged or 

confidential.5

Current actions: On October 14, 2020, 

the Board published a notice in the 

Federal Register (85 FR 65047) 

requesting public comment for 60 days 

on the extension, without revision, of 

FR H–3. The comment period for this 

notice expired on December 14, 2020. 

The Board did not receive any 

comments. 

Board of Governors of the Federal Reserve 

System, February 10, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–03093 Filed 2–16–21; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice, request for comment. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) invites 

comment on a proposal to extend for 

three years, without revision, the 

Interagency Guidance on Managing 

Compliance and Reputation Risks for 

Reverse Mortgage Products (FR 4029; 

OMB No. 7100–0330). 

DATES: Comments must be submitted on 

or before April 19, 2021. 

ADDRESSES: You may submit comments, 

identified by FR 4029, by any of the 

following methods: 

• Agency Website: https://

www.federalreserve.gov/. Follow the 

instructions for submitting comments at 

https://www.federalreserve.gov/apps/ 

foia/proposedregs.aspx. 

• Email: regs.comments@

federalreserve.gov. Include the OMB 

number in the subject line of the 

message. 

• Fax: (202) 452–3819 or (202) 452– 

3102. 

• Mail: Ann E. Misback, 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 website at https://

www.federalreserve.gov/apps/foia/ 

proposedregs.aspx as submitted, unless 

modified for technical reasons or to 

remove personally identifiable 

information at the commenter’s request. 

Accordingly, comments will not be 

edited to remove any identifying or 

contact information. Public comments 

may also be viewed electronically or in 

paper in Room 146, 1709 New York 

Avenue NW, Washington, DC 20006, 

between 9:00 a.m. and 5:00 p.m. on 

weekdays. For security reasons, the 

Board requires that visitors make an 

appointment to inspect comments. You 

may do so by calling (202) 452–3684. 

Upon arrival, visitors will be required to 

present valid government-issued photo 

identification and to submit to security 

screening in order to inspect and 

photocopy comments. 

Additionally, commenters may send a 

copy of their comments to the Office of 

Management and Budget (OMB) Desk 

Officer—Shagufta Ahmed—Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, New 

Executive Office Building, Room 10235, 


jbell on DSKJLSW7X2PROD with NOTICES