Federal Register / Vol. 88, No. 218 / Tuesday, November 14, 2023 / Notices 78025 

1More detailed information regarding this 

collection, including more detailed burden 

estimates, can be found in the OMB Supporting 

Statement posted at https://www.federalreserve.gov/ 

apps/reportingforms/home/review. On the page 

displayed at the link, you can find the OMB 

Supporting Statement by referencing the collection 

identifier, FR 2018. 

typically covers special topics of timely 

interest. 

Frequency: Quarterly. 

Respondents: Domestically chartered 

commercial banks and U.S. branches 

and agencies of foreign banks. Other 

types of respondents (such as other 

depository institutions, bank holding 

companies, or other financial entities) 

may also be surveyed if appropriate. 

Total estimated number of 

respondents:104. 

Total estimated annual burden hours: 

1,248. 1

Board of Governors of the Federal Reserve 

System, November 7, 2023. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2023–25092 Filed 11–13–23; 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 

Quarterly Report of Interest Rates on 

Selected Direct Consumer Installment 

Loans and the Quarterly Report of 

Credit Card Plans (FR 2835 and FR 

2835a; OMB No. 7100–0085). 

DATES: Comments must be submitted on 

or before January 16, 2024. 

ADDRESSES: You may submit comments, 

identified by FR 2835 and FR 2835a, 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 or FR number in the subject line 

of the message. 

• FAX: (202) 452–3819 or (202) 452– 

3102. 

• Mail: Federal Reserve Board of 

Governors, Attn: Ann E. Misback, 

Secretary of the Board, Mailstop M– 

4775, 2001 C St. 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 confidential 

business information, identifying 

information, or contact information. 

Public comments may also be viewed 

electronically or in paper in Room M– 

4365A, 2001 C St. NW, Washington, DC 

20551, between 9:00 a.m. and 5:00 p.m. 

on weekdays, except for Federal 

holidays. 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 for the Federal Reserve Board, 

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, nuha.elmaghrabi@frb.gov, (202) 

452–3884. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the Paperwork 

Reduction Act (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. 

During the comment period for this 

proposal, a copy of the proposed PRA 

OMB submission, including the draft 

reporting form and instructions, 

supporting statement (which contains 

more detail about the information 

collection and burden estimates than 

this notice), and other documentation, 

will be made available on the Board’s 

public website at https://www.federal

reserve.gov/apps/reportingforms/home/ 

review or may be requested from the 

agency clearance officer, whose name 

appears above. Final versions of these 

documents will be made available at 

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

PRAMain, if approved. 

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 

Collection title: Quarterly Report of 

Interest Rates on Selected Direct 

Consumer Installment Loans and the 

Quarterly Report of Credit Card Plans. 

Collection identifier: FR 2835 and FR 

2835a. 

OMB control number: 7100–0085. 

General description of collection: The 

FR 2835 collects information on interest 

rates on loans for new vehicles and 

loans for other consumer goods and 

personal expenses from a sample of 

commercial banks. The FR 2835a 

collects information on interest rates, 

finance charges, and loan balances for 

credit card accounts from a sample of 

commercial banks. The data from these 

reports help the Board analyze current 

household financial conditions and the 

implications of these conditions for 

household spending and, as such, these 

data provide valuable input to the 

monetary policymaking process. The 


khammond on DSKJM1Z7X2PROD with NOTICES
78026 Federal Register / Vol. 88, No. 218 / Tuesday, November 14, 2023 / Notices 

1More detailed information regarding this 

collection, including more detailed burden 

estimates, can be found in the OMB Supporting 

Statement posted at https://www.federalreserve.gov/ 

apps/reportingforms/home/review. On the page 

displayed at the link, you can find the OMB 

Supporting Statement by referencing the collection 

identifiers, FR 2835 and FR 2835a. 

1 Dodd-Frank Act section 111, 12 U.S.C. 5321. 

2 Dodd-Frank Act section 112(a)(1), 12 U.S.C. 

5322(a)(1). 

3 ‘‘Primary financial regulatory agency’’ is defined 

in section 2(12) of the Dodd-Frank Act, 12 U.S.C. 

5301(12). 

4 88 FR 26305 (Apr. 28, 2023). In a rule codified 

at 12 CFR 1310.3, the Council voluntarily 

committed that it would not amend or rescind 

certain guidance regarding nonbank financial 

company determinations set forth in Appendix A to 

12 CFR part 1310 without providing the public with 

notice and an opportunity to comment in 

accordance with the procedures applicable to 

legislative rules under 5 U.S.C. 553. Section 1310.3 

does not apply to the Council’s issuance of rules, 

guidance, procedures, or other documents that do 

not amend or rescind Appendix A, and accordingly, 

it does not apply to the Analytic Framework. 

Nonetheless, in the interest of transparency and 

accountability, the Council chose to publish the 

Proposed Framework and provide an opportunity 

for public comment. 

5 88 FR 41616 (June 27, 2023). 

6The comment letters are available at https://

www.regulations.gov/docket/FSOC-2023-0001. 

data are also used to create aggregate 

statistics on consumer loan terms that 

are published in the Federal Reserve’s 

monthly statistical releases, G.19 

Consumer Credit and G.20 Finance 

Companies, and in the Federal Reserve 

Bulletin. Some of the aggregates are 

used by the Board in the calculation of 

the aggregate household debt service 

and financial obligations ratios for the 

Federal Reserve’s quarterly Household 

Debt Service and Financial Obligations 

Ratios statistical release and by the 

Bureau of Economic Analysis to 

calculate interest paid by households as 

part of the National Income and Product 

Accounts. 

Frequency: Quarterly. 

Respondents: The FR 2835 panel 

comprises a sample of commercial 

banks. The FR 2835a panel comprises a 

sample of commercial banks with $1 

billion or more in credit card 

receivables and a representative group 

of smaller issuers. 

Total estimated number of 

respondents: 200. 

Total estimated annual burden hours: 

274.1

Board of Governors of the Federal Reserve 

System, November 7, 2023. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2023–25094 Filed 11–13–23; 8:45 am] 

BILLING CODE 6210–01–P 

FINANCIAL STABILITY OVERSIGHT 

COUNCIL 

Analytic Framework for Financial 

Stability Risk Identification, 

Assessment, and Response 

AGENCY: Financial Stability Oversight 

Council. 

ACTION: Publication of analytic 

framework. 

SUMMARY: The Financial Stability 

Oversight Council (Council) is 

publishing an analytic framework that 

describes the approach the Council 

expects to take in identifying, assessing, 

and responding to certain potential risks 

to U.S. financial stability. 

DATES: Effective Date: November 14, 

2023. 

FOR FURTHER INFORMATION CONTACT: Eric 

Froman, Office of the General Counsel, 

Treasury, at (202) 622–1942; Devin 

Mauney, Office of the General Counsel, 

Treasury, at (202) 622–2537; or Priya 

Agarwal, Office of the General Counsel, 

Treasury, at (202) 622–3773. 

SUPPLEMENTARY INFORMATION: 

I. Background 

Section 111 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (the Dodd-Frank Act) established 

the Financial Stability Oversight 

Council (the Council).1 The statutory 

purposes of the Council are ‘‘(A) to 

identify risks to the financial stability of 

the United States that could arise from 

the material financial distress or failure, 

or ongoing activities, of large, 

interconnected bank holding companies 

or nonbank financial companies, or that 

could arise outside the financial 

services marketplace; (B) to promote 

market discipline, by eliminating 

expectations on the part of shareholders, 

creditors, and counterparties of such 

companies that the Government will 

shield them from losses in the event of 

failure; and (C) to respond to emerging 

threats to the stability of the United 

States financial system.’’ 2

The Council’s duties under section 

112 of the Dodd-Frank Act reflect the 

range of approaches the Council may 

consider to identify, assess, and respond 

to potential threats to U.S. financial 

stability, which include collecting 

information from regulators, requesting 

data and analyses from the Office of 

Financial Research (the OFR), 

monitoring the financial services 

marketplace and financial regulatory 

developments, facilitating information 

sharing and coordination among 

regulators, recommending to the 

Council member agencies general 

supervisory priorities and principles, 

identifying regulatory gaps, making 

recommendations to the Board of 

Governors of the Federal Reserve 

System (the Federal Reserve) or other 

primary financial regulatory agencies,3

and designating certain entities or 

payment, clearing, and settlement 

activities for additional regulation. 

The Council’s Analytic Framework for 

Financial Stability Risk Identification, 

Assessment, and Response (the Analytic 

Framework) describes the approach the 

Council expects to take in identifying, 

assessing, and responding to certain 

potential risks to U.S. financial stability. 

The Analytic Framework is intended to 

help market participants, stakeholders, 

and other members of the public better 

understand how the Council expects to 

perform certain of its duties. It is not a 

binding rule and does not establish 

rights or obligations applicable to any 

person or entity. 

The Council issued for public 

comment the Proposed Analytic 

Framework for Financial Stability Risk 

Identification, Assessment, and 

Response (the Proposed Framework) on 

April 21, 2023.4 The comment period 

was initially set to close after 60 days; 

however, in response to public requests 

for additional time to review and 

comment on the Proposed Framework, 

the Council extended the comment 

period by 30 days,5 to July 27, 2023. 

Having carefully considered the 

comments it received, the Council voted 

to adopt the Analytic Framework at a 

public meeting on November 3, 2023. 

At the same time as the publication of 

the Proposed Framework, the Council 

also published proposed interpretive 

guidance (the Proposed Guidance) 

regarding its procedures for designating 

nonbank financial companies for 

prudential standards and Federal 

Reserve supervision under section 113 

of the Dodd-Frank Act. At its public 

meeting on November 3, 2023, the 

Council also adopted a final version of 

those procedures (the Final Guidance). 

In response to its request for public 

input, the Council received 37 

comments on the Proposed Framework, 

of which nine were from companies or 

trade associations in the investment 

management industry, two were from 

trade associations in the insurance 

industry, six were from other companies 

or trade associations, 10 were from 

various advocacy groups, five were from 

current or former state or federal 

government officials, two were from 

groups of academics, and three were 

from individuals.6 Most public 

comments submitted with respect to the 

Proposed Framework also commented 


khammond on DSKJM1Z7X2PROD with NOTICES