12340 Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / 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 

identifier, FR 4202. 

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 O. 

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: Recordkeeping 

Provisions Associated with Stress 

Testing Guidance. 

Collection identifier: FR 4202. 

OMB control number: 7100–0348. 

General description of collection: The 

Stress Testing Guidance was issued 

jointly by the Board, Federal Deposit 

Insurance Corporation, and Office of the 

Comptroller of the Currency on May 17, 

2012. The interagency guidance outlines 

high-level principles for stress testing 

practices applicable to all Boardsupervised banking organizations with 

more than $10 billion in total 

consolidated assets. 

Frequency: As needed. 

Respondents: Board-supervised 

banking organizations with more than 

$10 billion in total consolidated assets. 

These include state member banks, bank 

holding companies, and all other 

institutions for which the Board is the 

primary federal supervisor. 

Total estimated number of 

respondents: 135. 

Total estimated annual burden hours: 

13,920.1

Board of Governors of the Federal Reserve 

System, February 12, 2024. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2024–03217 Filed 2–15–24; 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 Recordkeeping 

and Disclosure Requirements 

Associated with Regulation O (FR O; 

OMB No. 7100–0382). 

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. 

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. 

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. 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 

(which contain more detailed 

information about the information 

collections and burden estimates than 

this notice), 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.federal

reserve.gov/apps/reportingforms/home/ 

review 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 

Collection title: Recordkeeping and 

Disclosure Requirements Associated 

with Regulation O. 

Collection identifier: FR O. 

OMB control number: 7100–0382. 

Date: March 18, 2024. 

General description of collection: The 

Board’s Regulation O—Loans to 

Executive Officers, Directors, and 

Principal Shareholders of Member 

Banks (12 CFR part 215) governs any 

extension of credit made by a member 

bank to an executive officer, director, or 

principal shareholder of the member 

bank, of any company of which the 

member bank is a subsidiary, and of any 

other subsidiary of that company. 

Regulation O prohibits extensions of 

credit to insiders unless they are made 

on substantially the same terms 

(including interest rates and collateral) 

as those prevailing at the time for 

comparable transactions by the bank 

with other persons who are not 

employed by the bank and do not 

involve more than the normal risk of 

repayment or present other unfavorable 

features. In addition, Regulation O 

limits extensions of credit by a member 

bank to individual insiders and to all 

insiders, requires a member bank’s 

board of directors to approve certain 

large extensions of credit, and sets forth 

recordkeeping and disclosure 

requirements. 

Frequency: Event-generated. 

Respondents: Insured depository 

institutions and uninsured member 

banks. 

Total estimated number of 

respondents: 6,099. 

Total estimated change in burden: 

12,512. 

Total estimated annual burden hours: 

21,932.1

Current actions: On September 28, 

2023, the Board published a notice in 

the Federal Register (88 FR 66843) 

requesting public comment for 60 days 

on the extension, with revision, of the 

FR O. The FR O PRA clearance 

currently only lists member banks as 

respondents. The Board proposed to 

revise the FR O PRA clearance to reflect 

that the information collections 

included in Regulation O, by operation 

of statute, apply in practice to all 

insured depository institutions, 

regardless of whether they are member 

banks. This revision would be solely an 

administrative law matter, and would 

not actually impose new requirements 

on any institutions. While the proposed 

revision would not substantively 

increase burden for any institution, the 

administrative change would result in a 

larger reported burden of 21,932 hours. 

The comment period for this notice 

expired on November 27, 2023. The 

Board did not receive any comments. 

The revisions will be implemented as 

proposed. 

Board of Governors of the Federal Reserve 

System, February 12, 2024. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2024–03214 Filed 2–15–24; 8:45 am] 

BILLING CODE 6210–01–P 


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