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[Federal Register Volume 89, Number 221 (Friday, November 15, 2024)]
[Notices]
[Pages 90286-90287]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26705]

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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 
Treasury Securities and Agency Debt and Mortgage-Backed Securities 
Reporting Requirements (FR 2956; OMB No. 7100-0383).

DATES: The revisions are effective December 16, 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, [email protected], (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

[[Page 90287]]

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 2956.

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

    Collection title: Treasury Securities and Agency Debt and Mortgage-
Backed Securities Reporting Requirements.
    Collection identifier: FR 2956.
    OMB control number: 7100-0383.
    General description of collection: The FR 2956 collects detailed 
data on depository institutions' daily transactions trading of 
marketable U.S. Treasury securities and transactions trading of the 
debt and mortgage-backed securities (MBS) issued by U.S. federal 
government agencies including government-sponsored enterprises 
(agencies). The 2956 has two parts: Part 1 collects data on 
transactions in U.S. Treasury debt, and Part 2 collects transactions in 
debt and MBS issued by agencies. Every national bank, state member 
bank, state non-member bank, savings association, or U.S. branch and 
agency of a foreign bank filing a Notice by Financial Institutions of 
Government Securities Broker or Government Securities Dealer Activities 
(Form G-FIN; OMB No. 7100-0224) with average daily transaction volumes 
of over $100 million, for U.S. Treasury debt, or over $50 million, for 
agency-issued debt and MBS, during the prior fiscal year is subject to 
the these reporting requirements. Depository institutions subject to 
the reporting requirements of the FR 2956 electronically report 
transactions through the Board's data collection vendor, the Financial 
Industry Regulatory Authority (FINRA), utilizing its Trade Reporting 
and Compliance Engine (TRACE). Broker-dealers that are members of FINRA 
report transactions pursuant to the FINRA rules, and not the FR 2956. 
The Board receives data on transactions executed by FINRA's broker-
dealer members from FINRA, but the depository institutions subject to 
the FR 2956 are not members of FINRA and are not subject to its rules.
    Frequency: Daily, event-generated.
    Respondents: Depository institutions that meet the above reporting 
thresholds. Prime brokers or depository institutions who file Form G-
FIN and are FINRA members acting as an executing broker and that 
therefore already are subject to TRACE reporting pursuant to FINRA 
rules are exempt from this reporting requirement.
    Total estimated number of respondents: 22.
    Total estimated change in burden: (11,000).
    Total estimated annual burden hours: 22,000.
    Current actions: On July 1, 2024, the Board published a notice in 
the Federal Register (89 FR 54462) requesting public comment for 60 
days on the extension, with revision, of the FR 2956. The Board 
proposed to revise Part 1 of the FR 2956 report, which pertains to the 
reporting of transactions in U.S. Treasury securities, by updating (i) 
the timeframe within which a depository institution subject to the 
reporting requirements of Part 1 of the FR 2956 must report 
transactions in U.S. Treasury securities, and (ii) for transactions 
executed electronically, the minimum increment of time that must be 
used for reporting the execution times. The Board also proposed certain 
technical and clarifying revisions to Part 2 of the FR 2956 report, 
intended to make the definitions clearer and to correct an error. The 
comment period for this notice expired on August 30, 2024. The Board 
did not receive any comments. The revisions will be implemented as 
proposed.

    Board of Governors of the Federal Reserve System, November 12, 
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-26705 Filed 11-14-24; 8:45 am]
BILLING CODE 6210-01-P
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