[Federal Register Volume 89, Number 33 (Friday, February 16, 2024)]
[Notices]
[Pages 12344-12345]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03218]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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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 F 
(FR F; OMB No. 7100-0331).

DATES: Comments must be submitted on or before April 16, 2024.

ADDRESSES: You may submit comments, identified by FR F, by any of the 
following methods:
    <bullet> Agency Website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#57253230247934383a3a32392324173132333225363b2532243225213279303821"><span class="__cf_email__" data-cfemail="b7c5d2d0c499d4d8dadad2d9c3c4f7d1d2d3d2c5d6dbc5d2c4d2c5c1d299d0d8c1">[email protected]</span></a>. Include the OMB 
number or FR number in the subject line of the message.
    <bullet> FAX: (202) 452-3819 or (202) 452-3102.
    <bullet> 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, <a href="/cdn-cgi/l/email-protection#315f4459501f545d5c50565943505358715743531f565e47"><span class="__cf_email__" data-cfemail="ef819a878ec18a83828e88879d8e8d86af899d8dc1888099">[email protected]</span></a>, (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.federalreserve.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, Following Information Collection

    Collection title: Recordkeeping Requirements Associated with 
Regulation F.
    Collection identifier: FR F.
    OMB control number: 7100-0331.
    General description of collection: The Board's Regulation F--
Limitations on Interbank Liabilities (12 CFR part 206) establishes 
limits on depository institutions' credit exposure to individual 
correspondents in order to mitigate the risk that the failure of a 
correspondent would pose to an insured depository institution.\1\ 
Section 206.3 of Regulation F requires insured depository institutions 
to establish and maintain policies and procedures designed to prevent 
excessive exposure to correspondents.
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    \1\ Correspondent means a U.S. depository institution or a 
foreign bank to which a bank has exposure but does not include a 
commonly controlled correspondent. 12 CFR 206.2(c).
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    Frequency: This information collection contains recordkeeping 
requirements. The creation of written policies and procedures 
concerning interbank liabilities is a mandatory one-time requirement. 
Subsequent changes to these policies and procedures would be on 
occasion, and they must be reviewed and approved by the depository 
institution's board of directors at least annually. The policies and 
procedures must be maintained, as amended.
    Respondents: All depository institutions insured by the Federal 
Deposit Insurance Corporation (FDIC).\2\
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    \2\ The Board takes burden under the Paperwork Reduction Act 
with respect to all such entities.
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    Total estimated number of respondents: 4,655.
    Total estimated annual burden hours: 4,753.\3\
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    \3\ More 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 F.


[[Page 12345]]


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    Board of Governors of the Federal Reserve System, February 12, 
2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-03218 Filed 2-15-24; 8:45 am]
BILLING CODE 6210-01-P


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