Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 13379 

2 77 FR 29458. The Stress Testing Guidance was 

issued jointly by the Board, the Federal Deposit 

Insurance Corporation, and the Office of the 

Comptroller of the Currency. 

3Board-supervised banking organizations include 

state member banks, bank holding companies, 

savings and loan holding companies, and all other 

institutions for which the Board is the primary 

federal supervisor. 

Estimated average hours per response: 

180. 

Estimated annual burden hours: 

18,000. 

General description of report: On May 

17, 2012, the Board published the 

Supervisory Guidance on Stress Testing 

for Banking Organizations With More 

Than $10 Billion in Total Consolidated 

Assets (Stress Testing Guidance) in the 

Federal Register.2 The Stress Testing 

Guidance outlines high-level principles 

for stress testing practices applicable to 

all Board-supervised banking 

organizations with more than $10 

billion in total consolidated assets.3

The Stress Testing Guidance 

recommends that banking organizations 

(i) have a stress testing framework that 

includes clearly defined objectives, 

well-designed scenarios tailored to the 

banking organization’s business and 

risks, well-documented assumptions, 

conceptually sound methodologies to 

assess potential impact on the banking 

organization’s financial condition, 

informative management reports, and 

recommended actions based on stress 

test results; and (ii) have policies and 

procedures for a stress testing 

framework. These recordkeeping 

activities are collections of information 

under the PRA. 

An organization should have written 

policies, approved and annually 

reviewed by the board, that direct and 

govern the implementation of the stress 

testing framework in a comprehensive 

manner. Policies, along with procedures 

to implement them, should 

• describe the overall purpose of 

stress testing activities; 

• articulate consistent and 

sufficiently rigorous stress testing 

practices across the entire organization; 

• indicate stress testing roles and 

responsibilities, including controls over 

external resources used for any part of 

stress testing (such as vendors and data 

providers); 

• describe the frequency and priority 

with which stress testing activities 

should be conducted; 

• indicate how stress test results are 

used and by whom, and 

• be reviewed and updated as 

necessary to ensure that stress testing 

practices remain appropriate and keep 

up to date with changes in market 

conditions, organization products and 

strategies, organization exposures and 

activities, the organization’s established 

risk appetite, and industry stress testing 

practices. 

Legal authorization and 

confidentiality: This voluntary 

information collection is authorized 

pursuant to section 11 of the Federal 

Reserve Act, 12 U.S.C. 248 (state 

member banks); sections 25 and 25A of 

the Federal Reserve Act, 12 U.S.C. 602 

and 625 (Edge and Agreement 

corporations); section 5 of the Bank 

Holding Company Act of 1956, 12 

U.S.C. 1844 (bank holding companies) 

and, in conjunction with section 8 of the 

International Banking Act, 12 U.S.C. 

3106 (foreign banking organizations); 

section 7(c) of the International Banking 

Act of 1978, 12 U.S.C. 3105(c) (branches 

and agencies of foreign banks); section 

10 of the Home Owners’ Loan Act, 12 

U.S.C. 1467a, (savings and loan holding 

companies), and section 165(i) of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act, 12 U.S.C. 

5365 (nonbank financial companies 

supervised by the Board). 

Because the collections of information 

associated with the FR 4202 do not 

involve the submission of information 

to the Board, no issues of confidentiality 

would normally arise. To the extent that 

the Board collects such information 

during an examination of the banking 

organization, confidential treatment 

may be afforded to that information 

under exemption 8 of the Freedom of 

Information Act (FOIA) (5 U.S.C. 

552(b)(8)), which protects information 

collected as part of the Board’s 

supervisory process. Additionally, 

individual respondents may request 

confidential treatment of information 

pursuant to exemption 4 of the FOIA (5 

U.S.C. 552(b)(4)), which protects ‘‘trade 

secrets and commercial or financial 

information obtained from a person 

[that is] privileged or confidential.’’ The 

Board will treat such information as 

confidential to the extent permitted by 

law, including the FOIA. 

Board of Governors of the Federal Reserve 

System, March 3, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–04762 Filed 3–5–21; 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, with revision, the GovernmentAdministered, General-Use Prepaid 

Card Surveys (FR 3063; OMB No. 7100– 

0343). The revisions are applicable as of 

the data collection administered during 

the first half of 2021. 

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 

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, With Revision, of the Following 

Information Collection: 

Report title: GovernmentAdministered, General-Use Prepaid 

Card Surveys. 

Agency form number: FR 3063. 

OMB control number: 7100–0343. 

Effective Date: As of the data 

collection administered during the first 

half of 2021. 

Frequency: Annually. 

Respondents: Depository institutions 

that administer general-use prepaid 

cards. 

Estimated number of respondents: 15. 

Estimated average hours per response: 

10. 

Estimated annual burden hours: 150. 

General description of report: The 

issuer survey (FR 3063a) collects data 


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13380 Federal Register / Vol. 86, No. 43 / Monday, March 8, 2021 / Notices 

1The government survey may be distributed to 

federal government agencies in addition to state and 

local governments and U.S. territories, but 

collections of information from federal government 

agencies are not subject to the Paperwork Reduction 

Act and, thus, are not included in this discussion. 

U.S. territories include American Samoa, Guam, 

Midway Islands, Northern Mariana Islands, Puerto 

Rico, and U.S. Virgin Islands. 

from issuers of governmentadministered, general-use prepaid cards 

including information on the pre-paid 

card program, the number of cards 

outstanding, card funding, ATM 

transactions, purchase transactions, fees 

paid by issuers to third parties, 

interchange fees, and cardholder fees. 

The issuer survey (FR 3063a) is 

mandatory. The government survey (FR 

3063b), which is being discontinued, 

was designed to collect data from state 

governments, the District of Columbia, 

and U.S. territories (collectively ‘‘state 

governments’’), and municipal 

government offices located within the 

United States (local government offices) 

that administer general-use prepaid card 

payment programs.1 It was intended 

that the FR 3063b survey would collect 

similar information from state 

governments and local government 

offices to supplement the information 

collected from card issuers in the FR 

3063a survey on the usage of generaluse prepaid cards in federal, state or 

local government-administered payment 

programs. However, the FR 3063b was 

voluntary, and the Board has not issued 

this survey to state governments or local 

government offices in the past three 

years because relevant information on 

the use of prepaid cards was obtained 

from the FR 3063a survey. 

The Board uses data from the FR 

3063a survey to support an annual 

report to Congress on the prevalence of 

use of general-use prepaid cards in 

federal, state, and local governmentadministered payment programs and on 

the interchange and cardholder fees 

charged with respect to such use of such 

cards. 

Legal authorization and 

confidentiality: The issuer survey is 

authorized by subsection 920(a)(7) of 

the Electronic Fund Transfer Act, 15 

U.S.C. 1693o–2(a)(7), which was added 

by section 1075(a) of the Dodd-Frank 

Wall Street Reform and Consumer 

Protection Act. This subsection requires 

the Board to submit an annual report to 

Congress on the prevalence of the use of 

general-use prepaid cards in federal, 

state, or local government-administered 

payment programs and the interchange 

transaction fees and card-holder fees 

charged with respect to the use of such 

general-use prepaid cards (15 U.S.C. 

1693o–2(a)(7)(D)). It also provides the 

Board with authority to require issuers 

to provide information to enable the 

Board to carry out the provisions of the 

subsection (15 U.S.C. 1693o–2(a)(3)(B)). 

The obligation of issuers to respond to 

the issuer survey is mandatory. The 

Board generally regards the information 

collected from each individual issuer on 

the FR 3063a survey as confidential 

commercial and financial information, 

which may be protected by exemption 

4 of the Freedom of Information Act (5 

U.S.C. 552(b)(4)). The Board, however, 

may publicly release aggregate or 

summary information in a way that does 

not reveal the individual issuer. 

Current actions: On November 19, 

2020, the Board published a notice in 

the Federal Register (85 FR 73708) 

requesting public comment for 60 days 

on the extension, with revision, of the 

Government-Administered, General-Use 

Prepaid Card Surveys. The Board 

proposed to revise and streamline the 

FR 3063a reporting structure to reduce 

burden on respondents by deleting 

various questions, which are no longer 

necessary to support the Board’s annual 

report. In addition, the Board proposed 

to discontinue the FR 3063b. The 

comment period for this notice expired 

on January 19, 2021. The Board did not 

receive any comments. The revisions 

will be implemented as proposed. 

Board of Governors of the Federal Reserve 

System, March 2, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–04689 Filed 3–5–21; 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 

Recordkeeping Requirements 

Associated with Regulation GG (FR GG; 

OMB No. 7100–0317). 

DATES: Comments must be submitted on 

or before May 7, 2021. 

ADDRESSES: You may submit comments, 

identified by FR GG, 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, 

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 


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