Federal Register / Vol. 87, No. 66 / Wednesday, April 6, 2022 / Notices 19933 

1See 31 U.S.C. 5311 et seq. 

2The terms ‘‘federal agency’’ and ‘‘federal 

branch’’ have the same meanings as in section 1 of 

the International Banking Act of 1978 (12 U.S.C. 

3101). See 12 CFR 211.21. 

3Section 8(s) of the FDIA authorizes the Board to 

prescribe regulations covering the entities required 

to comply with section 208.63 of the Board’s 

Regulation H (12 CFR 208.63) and sections 

211.5(m)(1) and 211.24(j)(1) of the Board’s 

Regulation K (12 CFR 211.5(m)(1) and 12 CFR 

211.24(j)(1)). See 12 U.S.C. 1813(c)(3), 1818(b)(3), 

and 1818(b)(4). 

General description of report: Section 

208.63 of the Board’s Regulation H— 

Membership of State Banking 

Institutions in the Federal Reserve 

System (12 CFR part 208) requires state 

member banks to establish and maintain 

in writing procedures reasonably 

designed to ensure and monitor 

compliance with the provisions of the 

Bank Secrecy Act (BSA) 1 and its 

implementing regulations. Sections 

211.5(m)(1) and 211.24(j)(1) of the 

Board’s Regulation K—International 

Banking Operations (12 CFR part 211) 

impose those same requirements on 

Edge Act and agreement corporations 

and, except for a federal branch or a 

federal agency 2 or a state branch that is 

insured by the FDIC, the U.S. branches, 

agencies, and representative offices of 

foreign banks supervised by the Board. 

Legal authorization and 

confidentiality: The FR K is authorized 

pursuant to section 8(s) of the Federal 

Deposit Insurance Act (FDIA), which 

requires the federal banking agencies, 

including the Board, to (1) prescribe 

regulations requiring the institutions 

they regulate to establish and maintain 

procedures reasonably designed to 

assure and monitor compliance with the 

BSA and (2) to review such procedures 

during the course of their examinations 

(12 U.S.C. 1818(s)).3 The FR K is 

mandatory. 

Because the records required by the 

FR K will be retained at banking 

organizations, the Freedom of 

Information Act (FOIA) would only be 

implicated if the Board’s examiners 

obtained a copy of the records as part 

of the examination or supervision of a 

banking institution. In that case, the 

records may be exempt from disclosure 

under exemption 8 of the FOIA, which 

protects examination materials from 

disclosure (5 U.S.C. 552(b)(8)). To the 

extent that information retained in 

response to the FR K constitutes 

nonpublic commercial or financial 

information, which is both customarily 

and actually treated as private by the 

respondent, it may also be kept 

confidential under exemption 4 of the 

FOIA (5 U.S.C. 552(b)(4)). Exemption 4 

protects ‘‘trade secrets and commercial 

or financial information obtained from a 

person [that is] privileged or 

confidential.’’ 

Current actions: On December 10, 

2021, the Board published a notice in 

the Federal Register (86 FR 70496) 

requesting public comment for 60 days 

on the extension, without revision, of 

the FR K. The comment period for this 

notice expired on February 8, 2022. The 

Board did not receive any comments. 

Board of Governors of the Federal Reserve 

System, April 1, 2022. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2022–07226 Filed 4–5–22; 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 

Recordkeeping Provisions Associated 

with Guidance on Leveraged Lending 

(FR 4203; OMB No. 7100–0354). 

DATES: Comments must be submitted on 

or before June 6, 2022. 

ADDRESSES: You may submit comments, 

identified by FR 4203, by any of the 

following methods: 

• Agency Website: https://

www.federalreserve.gov/. Follow the 

instructions for submitting comments at 

https://www.federalreserve.gov/apps/ 

foia/proposedregs.aspx. 

• Email: regs.comments@

federalreserve.gov. Include the OMB 

number or FR 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 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. 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, Washington, DC 20551, (202) 

452–3829. 

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, and other 

documentation, will be made available 

on the Board’s public website at https:// 

www.federalreserve.gov/apps/ 

reportforms/review.aspx 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 


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19934 Federal Register / Vol. 87, No. 66 / Wednesday, April 6, 2022 / Notices 

1 ‘‘Interagency Guidance on Leveraged Lending,’’ 

March 21, 2013, available at https://

www.federalreserve.gov/supervisionreg/srletters/ 

sr1303a1.pdf. The Guidance was published jointly 

by the Board, the Office of the Comptroller of the 

Currency, and the Federal Deposit Insurance 

Corporation. 

2 12 U.S.C. 324, 602, and 625, respectively. 

3 12 U.S.C. 1844(c). 

4 12 U.S.C. 1467a(b)(2) and (b)(3). 

5 12 U.S.C. 3105(c)(2). 

6 5 U.S.C. 552(b)(8). 

7 5 U.S.C. 552(b)(4). 

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, the Following 

Information Collection 

Report title: Recordkeeping Provisions 

Associated with Guidance on Leveraged 

Lending. 

Agency form number: FR 4203. 

OMB control number: 7100–0354. 

Frequency: On occasion. 

Respondents: The FR 4203 panel 

comprises all bank holding companies, 

savings and loan holding companies, 

state member banks, and state-chartered 

branches and agencies of foreign banks 

that engage in leveraged lending 

activities. 

Many community banks are not 

subject to the FR 4203 because they do 

not engage in leveraged lending. The 

limited number of community and 

smaller institutions that are involved in 

leveraged lending activities may discuss 

with the Federal Reserve System 

whether and, if so, how to implement 

these collections of information in a 

cost-effective manner that is appropriate 

for the complexity of their exposures 

and activities. 

Estimated number of respondents: 37. 

Estimated average hours per response: 

755. 

Estimated annual burden hours: 

27,935. 

General description of report: The 

guidance on leveraged lending 

(Guidance) 1 outlines high-level 

principles related to safe-and-sound 

leveraged lending activities. The 

Guidance includes a number of 

voluntary recordkeeping provisions that 

apply to financial institutions that are 

engaged in leveraged lending activities 

and for which the Board is the primary 

federal supervisor, including bank 

holding companies, savings and loan 

holding companies, state member banks, 

and state-chartered branches and 

agencies of foreign banks that engage in 

these activities. 

Legal authorization and 

confidentiality: The recordkeeping 

provisions of the Guidance are 

authorized pursuant to sections 9(6), 25, 

and 25A of the Federal Reserve Act 2

(for state member banks, agreement 

corporations, and Edge corporations, 

respectively); section 5(c) of the Bank 

Holding Company Act 3 (for bank 

holding companies); sections 10(b)(2) 

and 10(b)(3) of the Home Owners’ Loan 

Act 4 (savings and loan holding 

companies), and section 7(c)(2) of the 

International Banking Act 5 (statelicensed branches and agencies of 

foreign banks, other than insured 

branches). The recordkeeping 

provisions contained in the FR 4203 are 

voluntary. 

Because these records would be 

maintained at each banking 

organization, the Freedom of 

Information Act (FOIA) would only be 

implicated if the Board obtained such 

records as part of the examination or 

supervision of a banking organization. If 

the records were obtained by the Board 

as part of an examination or supervision 

of a financial institution, this 

information may be considered 

confidential pursuant to exemption 8 of 

the FOIA, which protects information 

contained in ‘‘examination, operating, 

or condition reports’’ obtained in the 

bank supervisory process.6 In addition, 

to the extent that information contained 

in these records constitutes nonpublic 

commercial or financial information, 

which is both customarily and actually 

treated as private by a banking 

organization, it may be kept confidential 

under exemption 4 of the FOIA, which 

exempts ‘‘trade secrets and commercial 

or financial information obtained from a 

person and privileged or confidential.’’ 7

Board of Governors of the Federal Reserve 

System, April 1, 2022. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2022–07225 Filed 4–5–22; 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, without revision, the Uniform 

Application for Municipal Securities 

Principal or Municipal Securities 

Representative Associated with a Bank 

Municipal Securities Dealer (Form 

MSD–4; OMB No. 7100–0100) and the 

Uniform Termination Notice for 

Municipal Securities Principal or 

Municipal Securities Representative 

Associated with a Bank Municipal 

Securities Dealer (Form MSD–5; OMB 

No. 7100–0101). 

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, Washington, DC 20551, (202) 

452–3829. 

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, 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/reportforms/review.aspx or 

may be requested from the agency 


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