[Federal Register Volume 89, Number 186 (Wednesday, September 25, 2024)]
[Notices]
[Pages 78304-78305]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-21910]


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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 
Reporting, Recordkeeping, and Disclosure Requirements Associated with 
Regulation YY (FR YY; OMB No. 7100-0350).

DATES: The revisions are applicable as of September 25, 2024.

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#f49a819c95da91989995939c8695969db4928696da939b82"><span class="__cf_email__" data-cfemail="f49a819c95da91989995939c8695969db4928696da939b82">[email protected]</span></a>, (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. Board-approved 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.federalreserve.gov/apps/reportingforms/home/review or may 
be requested from the agency clearance officer, whose name appears 
above. On the page displayed at the link above, you can find the 
supporting information by referencing the collection identifier, FR YY.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collection

    Collection title: Reporting, Recordkeeping, and Disclosure 
Requirements Associated with Regulation YY.
    Collection identifier: FR YY.
    OMB control number: 7100-0350.
    General description of collection: Section 165 of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act authorizes the Board to 
implement enhanced prudential standards and impose requirements related 
to stress tests on certain financial companies. The Board has relied on 
this authority to enact Regulation YY--Enhanced Prudential Standards 
(12 CFR part 252). The enhanced prudential standards and other 
requirements contained in Regulation YY include risk-based and leverage 
capital requirements, liquidity standards, requirements for overall 
risk management (including establishing a risk committee), stress test 
requirements, and debt-to-equity limits for companies that the 
Financial Stability Oversight Council has determined pose a grave 
threat to financial stability. The FR YY information collection 
includes reporting, recordkeeping, and disclosure requirements 
contained in Regulation YY.
    Frequency: Quarterly, biennial, annual, and event-generated.
    Respondents: U.S. bank holding companies, domestic and foreign 
nonbank systemically important financial institutions, state member 
banks, foreign banking organizations, and U.S. intermediate holding 
companies.
    Total estimated number of respondents: 43.
    Total estimated change in burden: 2,578.
    Total estimated annual burden hours: 26,458.
    Current actions: On March 29, 2024, the Board published a notice in 
the Federal Register (89 FR 22150) requesting public comment for 60 
days on the extension, with revision, of the FR YY. The Board proposed 
to revise the FR YY to take into account existing provisions in 
Regulation YY that included information collections, but had not been 
included in previous clearances. The comment period for this notice 
expired on May 28, 2024. The Board did not receive any comments. The 
revisions will be implemented as proposed.


[[Page 78305]]


    Board of Governors of the Federal Reserve System, September 17, 
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-21910 Filed 9-24-24; 8:45 am]
BILLING CODE 6210-01-P


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