43870 Federal Register / Vol. 83, No. 167 / Tuesday, August 28, 2018 / Notices 

6 12 CFR 1003.2(e). 

7For the complete list of data points, see 12 CFR 

1003.4. 

8Section 104(a) of EGRRCPA also provides a 

partial exemption to the data collection and 

reporting requirements under HMDA for 

institutions that originate fewer than 500 open-end 

lines of credit in each of the two preceding calendar 

years and otherwise meet the applicable 

performance evaluation rating standards under 

CRA. However, institutions eligible for this partial 

exemption are already completely exempt from all 

data collection and reporting requirements under 

the temporary exemption provided by the Bureau’s 

final rules until January 1, 2020. 

9See Bureau Statement, which provides that for 

loans subject to the partial exemption, ‘‘the 

requirements of [HMDA section 304(b)(5) and (6)] 

shall not apply . . . [therefore,] institutions are 

exempt from the collection, recording, and 

reporting requirements for some, but not all, of the 

data points specified in current Regulation C.’’ 

10Section 104(a) of EGRRCPA does not define the 

terms ‘‘closed-end loan’’ or ‘‘open-end line of 

credit.’’ However, for purposes of estimating 

burden, the Board is making the assumption that 

these terms will be used consistent with how they 

are currently defined in Regulation C. See 12 CFR 

1002.2(d) and (o), which defines the term ‘‘closedend loan’’ and ‘‘open-end line of credit,’’ 

respectively. Further, for purposes of estimating 

burden, the Board is making the assumption that 

the loan volume thresholds for closed-end loans 

will be determined consistent with how such loan 

thresholds are currently used under Regulation C to 

determine if a transaction must be reported. See 12 

CFR 1003.3(c)(11) and (12), which provides how to 

determine the loan threshold volume for closed-end 

loan reporters and open-end line of credit reporters, 

respectively. 

report a covered loan if it has met the 

loan origination threshold for that loan 

category (open-end or closed-end). 

The final rules generally will require 

covered institutions to collect and 

report any mortgage loan secured by a 

dwelling, including open-end lines of 

credit, regardless of the loan’s purpose. 

However, the final rules exclude 

unsecured home-improvement loans 

(which historically were required to be 

reported), dwelling-secured loans that 

are made principally for a commercial 

or business purpose, agricultural– 

purpose loans, and other specifically 

excluded loans.6

The final rules also will require 

collection of additional data points. For 

covered institutions that are otherwise 

not eligible for the partial exemption 

under section 104(a) of EGRRCPA, as 

discussed further below, these 

additional data points will be reported 

in 2019. 

These new fields include 

• additional information about the 

applicant or borrower, such as age 

and credit score 

• information about the loan pricing, 

such as the borrower’s total cost to 

obtain a mortgage, temporary 

introductory rates, and borrower-paid 

origination charges 

• information about loan features, such 

as the loan term, prepayment 

penalties, or non-amortizing features 

(such as interest only or balloon 

payments) 

• additional information about property 

securing the loan, such as property 

value and property type 

In addition, the Bureau’s final rules 

amend several existing requirements, 

including the requirements for 

collection and reporting of information 

regarding an applicant’s or borrower’s 

ethnicity, race and sex.7

Effective May 24, 2018, an institution 

that is eligible for the partial exemption 

under section 104(a) of EGRRCPA will 

only need to report a subset of the data 

points required under HMDA if it 

originates fewer than 500 closed-end 

mortgage loans in each of the two 

preceding calendar years.8 Consistent 

with section 104(a) of EGRRCPA and the 

Bureau’s recent statement addressing 

the applicability of this statutory 

amendment to HMDA,9 the Board 

estimates that institutions eligible for 

the partial exemption will report 

approximately half the data points 

currently required by the Bureau’s final 

rules on the loans described above.10

The Bureau will collect the HMDA/ 

LAR data on behalf of the applicable 

Federal supervisory agency, and the 

data will be combined and aggregated 

for each Metropolitan Statistical Area 

(MSA). Certain aggregated data will 

continue to be publicly available, 

though the Bureau has yet to determine 

what the information collected in the 

new data fields will be disclosed once 

the final rules are fully effective. 

Legal authorization and 

confidentiality: The FR HMDA–LAR is 

authorized pursuant to section 304(j) of 

HMDA (12 U.S.C. 2803(j)), which 

requires that the Bureau prescribe by 

regulation the form of loan application 

register information that must be 

reported by covered financial 

institutions. Section 1003.5 of 

Regulation C implements this statutory 

provision, and requires covered 

financial institutions to submit reports 

to their appropriate federal agency. 

Section 304(h)(2)(A) of HMDA (12 

U.S.C. 2803(h)(2)(A)) designates the 

Board as the appropriate agency with 

respect to the entities described above. 

The FR HMDA–LAR is mandatory. 

HMDA requires the information 

collected on the FR HMDA–LAR to be 

made available to the general public in 

the form proscribed by the Bureau. The 

Bureau is authorized to redact or modify 

the scope of the information before it is 

publicly disclosed to protect the privacy 

of loan applicants and to protect 

depository institutions from liability 

under any federal or state privacy law 

(12 U.S.C. 2803(j)(2)(B)). The redacted 

information may be kept confidential 

under exemption 6 of the Freedom and 

Information Act, which protects from 

release information that, if disclosed, 

would ‘‘constitute a clearly unwarranted 

invasion of personal privacy’’ (5 U.S.C. 

552(b)(6)). 

Consultation outside the agency: The 

Board consulted with Bureau staff 

regarding the estimated burden of this 

information collection. 

Board of Governors of the Federal Reserve 

System, August 22, 2018. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2018–18542 Filed 8–27–18; 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 

Supervisory and Regulatory Survey (FR 

3052; OMB No. 7100–0322). 

DATES: Comments must be submitted on 

or before October 29, 2018. 

ADDRESSES: You may submit comments, 

identified by FR 3052, by any of the 

following methods: 

• Agency website: http://

www.federalreserve.gov. Follow the 

instructions for submitting comments at 

http://www.federalreserve.gov/apps/ 

foia/proposedregs.aspx. 

• Email: regs.comments@

federalreserve.gov. Include 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 http://

www.federalreserve.gov/apps/foia/ 

proposedregs.aspx as submitted, unless 

modified for technical reasons. 

Accordingly, your comments will not be 

edited to remove any identifying or 

contact information. Public comments 

may also be viewed electronically or in 

paper form in Room 3515, 1801 K Street 

NW, Washington, DC 20006, between 


daltland on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 83, No. 167 / Tuesday, August 28, 2018 / Notices 43871 

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 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: A 

copy of the PRA OMB submission, 

including the proposed reporting form 

and instructions, supporting statement, 

and other documentation will be placed 

into OMB’s public docket files, if 

approved. These documents will also be 

made available on the Federal Reserve 

Board’s public website at: http://

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears below. 

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. Telecommunications Device 

for the Deaf (TDD) users may contact 

(202) 263–4869, Board of Governors of 

the Federal Reserve System, 

Washington, DC 20551. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, the Office of Management and 

Budget (OMB) delegated to the Board 

authority under the Paperwork 

Reduction Act (PRA) to approve and 

assign OMB control numbers to 

collection of information requests and 

requirements 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. 

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 prior to giving final 

approval. 

Proposal to Under OMB Delegated 

Authority To Extend for Three Years, 

Without Revision, the Following 

Information Collection 

Report title: Supervisory and 

Regulatory Survey. 

Agency form number: FR 3052. 

OMB control number: 7100–0322. 

Frequency: On occasion. 

Respondents: Bank holding 

companies (BHCs), state member banks 

(SMBs), savings and loan holding 

companies (SLHCs), intermediate 

holding companies (IHCs), U.S branches 

and agencies of foreign banking 

organizations (FBOs), Edge and 

agreement corporations, nonbank 

financial companies that the Financial 

Stability Oversight Council (FSOC) has 

determined should be supervised by the 

Board, or the combined domestic 

operations of FBOs. 

Estimated number of respondents: 

5,000. 

Estimated average hours per response: 

0.5 hours. 

Estimated annual burden hours: 

60,000 hours. 

General description of report: The FR 

3052 collects information from financial 

institutions specifically tailored to the 

Federal Reserve’s supervisory, 

regulatory, and operational 

responsibilities. Examples of past 

surveys include collected information 

related to regulatory capital, operational 

risk loss event history, and transactions 

by securities dealers. The frequency and 

content of the questions depend on 

changing economic, regulatory, 

supervisory, or legislative 

developments. 

The Board utilizes the survey process, 

as needed, to collect information on 

specific issues that affect its decisionmaking. The principal value of the FR 

3052 is the flexibility it provides the 

Federal Reserve to respond quickly to 

the need for data due to unanticipated 

economic, financial, supervisory, or 

regulatory developments. The Board 

cannot predict what specific 

information will be needed, but such 

needs are generally very time sensitive. 

Because the relevant questions may 

change with each survey, there is no 

fixed reporting form. 

Written qualitative questions or 

questionnaires may include categorical 

questions, yes-no questions, ordinal 

questions, and open-ended questions. 

Written quantitative surveys may 

include dollar amounts, percentages, 

numbers of items, interest rates, and 

other such information. Institutions may 

also be required to provide copies of 

existing documents (for example, 

pertaining to practices and 

performances for a particular business 

activity). Before conducting a survey, 

the Board reviews any information to be 

collected to determine if the information 

is available by other means. 

Legal authorization and 

confidentiality: The FR 3052 is 

authorized pursuant to section 9 of the 

Federal Reserve Act (FRA) (12 U.S.C. 

324) for SMBs; section 5 of the Bank 

Holding Company Act (12 U.S.C. 

1844(c)(1)(A)) for BHCs and their 

subsidiaries; section 10 of the Home 

Owners’ Loan Act (12 U.S.C. 

1467a(b)(1)) for SLHCs and their 

subsidiaries; section 7(c)(2) of 

International Banking Act (IBA) (12 

U.S.C. 3105(c)(2)) for the U.S. branches 

and agencies of foreign banks; section 8 

of the IBA (12 U.S.C. 3106) for foreign 

banking organizations; sections 25 and 

25A of the FRA (12 U.S.C. 602 and 625) 

for Edge and agreement corporations; 

and section 161 of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (12 U.S.C. 5361) for nonbank 

financial companies designated by 

FSOC for supervision by the Board. 

The surveys would be conducted on 

a voluntary basis. The questions asked 

on each survey would vary, so the 

ability of the Board to maintain the 

confidentiality of information collected 

would be determined on a case by case 

basis. It is possible that the information 

collected would constitute confidential 

commercial or financial information, 

which may be kept confidential under 

exemption 4 to the Freedom of 

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

552(b)(4)). In circumstances where the 

Board collects information related to 

individuals, exemption 6 to FOIA 


daltland on DSKBBV9HB2PROD with NOTICES
43872 Federal Register / Vol. 83, No. 167 / Tuesday, August 28, 2018 / Notices 

would protect information ‘‘the 

disclosure of which would constitute a 

clearly unwarranted invasion of 

personal privacy’’ (5 U.S.C. 552(b)(6)). 

To the extent the information collected 

relates to examination, operating, or 

condition reports prepared for the use of 

an agency supervising financial 

institutions, such information may be 

kept confidential under exemption 8 to 

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

Board of Governors of the Federal Reserve 

System, August 23, 2018. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2018–18550 Filed 8–27–18; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Privacy Act of 1974; System of 

Records 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice of General Amendment 

to Federal Reserve Board of Governors 

Systems of Records. 

SUMMARY: Pursuant to the provisions of 

the Privacy Act of 1974, notice is given 

that the Board of Governors of the 

Federal Reserve System (Board) is 

amending its General Routine Uses of 

Board Systems of Records (General 

Routine Uses) that apply to the Board’s 

systems of records, by revising an 

existing routine use and adding a new 

routine use, both related to breach 

response. The changes are necessary in 

order to comply with Office of 

Management and Budget (OMB) 

Memorandum M–17–12, ‘‘Preparing for 

and Responding to a Breach of 

Personally Identifiable Information’’ 

(January 3, 2017), which sets forth the 

two required routine uses. Accordingly, 

the Board is revising Routine Use I, as 

prescribed by OMB, which allows the 

Board to disclose records as necessary to 

respond to a suspected or confirmed 

breach of the system of records where 

the Board has determined the breach 

poses a risk of harm to individuals, the 

Board, the Federal Government, or 

national security, and the disclosure is 

reasonably necessary to assist the Board 

in its efforts to respond to the breach or 

to prevent, minimize or remedy such 

harm. The Board is also adding Routine 

Use J as prescribed by OMB to allow the 

Board to assist another federal agency or 

federal entity in that agency’s or entity’s 

response to a suspected or confirmed 

breach or efforts to prevent, minimize, 

or remedy the risk of harm to 

individuals, the agency or entity, the 

Federal Government, or national 

security, resulting from a suspected or 

confirmed breach. 

These breach-response related uses 

are relevant and apply to all of the 

Board’s systems of records. Accordingly, 

the Board is revising its list of General 

Routine Uses and is amending all of the 

Board’s systems of records to include 

the revised Routine Use I and the new 

Routine Use J. These uses will ensure 

that the Board is able to respond as 

necessary in the event of a breach of 

personally identifiable information 

involving a Board system of records and 

assist other federal agencies or federal 

entities in their response. Breaches pose 

a risk of harm to individuals, and thus 

the revised and new routine uses will 

further enhance the Board’s ability to 

protect the privacy of individuals by 

allowing the Board to respond to the 

suspected or confirmed breach and 

prevent, minimize, or remedy the 

resulting harm posed by the breach. In 

order that the Board’s General Routine 

Uses will be contained in a single notice 

readily accessible by the public, the 

Board is republishing the General 

Routine Uses previously published on 

May 6, 2008 (73 FR 24985) which were 

not revised under this notice. 

DATES: Comments must be received on 

or before September 27, 2018. The 

revised systems of records notices and 

General Routine Uses will become 

effective September 27, 2018, without 

further notice, unless comments dictate 

otherwise. The Office of Management 

and Budget (OMB), which has oversight 

responsibility under the Privacy Act, 

requires a 30-day period prior to 

publication in the Federal Register in 

which to review the system and to 

provide any comments to the agency. 

The public is then given a 30-day period 

in which to comment, in accordance 

with 5 U.S.C. 552a(e)(4) and (11). The 

routine uses below were submitted to 

OMB on July 16, 2018. 

ADDRESSES: You may submit comments, 

identified by Board General Routine 

Uses and SORN Amendment, by any of 

the following methods: 

• Agency website: http://

www.federalreserve.gov. Follow the 

instructions for submitting comments at 

http://www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm. 

• Email: regs.comments@

federalreserve.gov. Include ‘‘Board 

General Routine Uses and SORN 

Amendment’’ 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 will be made 

available on the Board’s website at 

www.federalreserve.gov/generalinfo/ 

foia/ProposedRegs.cfm as submitted, 

unless modified for technical reasons or 

to remove personally identifiable 

information at the commenter’s request. 

Public comments may also be viewed 

electronically or in paper form in Room 

3515, 1801 K Street (between 18th and 

19th Streets 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. 

FOR FURTHER INFORMATION CONTACT: 

David B. Husband, Senior Attorney, 

Legal Division, (202) 530–6270, or 

david.b.husband@frb.gov; Alye S. 

Foster, Assistant General Counsel, Legal 

Division, or (202) 452–5289, or 

alye.s.foster@frb.gov. Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551, 

Telecommunications Device for the Deaf 

(TDD) users may contact (202) 263– 

4869. 

SUPPLEMENTARY INFORMATION: In 

accordance with the Privacy Act of 

1974, 5 U.S.C. 552a(r), a report of these 

systems of records is being filed with 

the Chair of the House Committee on 

Oversight and Government Reform, the 

Chair of the Senate Committee on 

Homeland Security and Governmental 

Affairs, and the Administrator of the 

Office of Information and Regulatory 

Affairs of the Office of Management and 

Budget. 

SYSTEM NAME AND NUMBER: 

BGFRS–1 Recruiting and Placement 

Records 

BGFRS–2 Personnel Security 

Systems 

BGFRS–3 Medical Records 

BGFRS–4 General Personnel 

Records 

BGFRS–5 EEO Discrimination 

Complaint File 

BGFRS–6 Disciplinary and Adverse 

Action Records 

BGFRS–7 Payroll and Leave Records 

BGFRS–8 Travel Records 

BGFRS–9 Supplier Files 

BGFRS–10 General Files on Board 

Members 

BGFRS–11 Official General Files 

BGFRS–12 Bank Officers Personnel 

System 


daltland on DSKBBV9HB2PROD with NOTICES