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###### Federal Reserve System

# 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 the Interagency Statement on Complex Structured Finance Activities (FR 4022; OMB No. 7100-0311).

# DATES:

Comments must be submitted on or before April 7, 2025.

# ADDRESSES:

You may submit comments, identified by FR 4022, by any of the following methods:
      -  Agency Website: https://www.federalreserve.gov/​.                          Follow the instructions for submitting comments, including attachments.                          Preferred method. 
      -  Mail:                          Ann E. Misback, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551.                    
      -  Hand Delivery/Courier:                          Same as mailing address.                    
      -  Other Means: publiccomments@frb.gov.                          You must include the OMB number or the FR number in the subject line of the message.                    

                        Comments received are subject to public disclosure. In general, comments received will be made available on the Board's website at                         *https://www.federalreserve.gov/​apps/​proposals/​*                         without change and will not be modified to remove personal or business information including confidential, contact, or other identifying information. Comments should not include any information such as confidential information that would be not appropriate for public disclosure. Public comments may also be viewed electronically or in person in Room M-4365A, 2001 C St. NW, Washington, DC 20551, between 9 a.m. and 5 p.m. during Federal business weekdays.                    

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,                         *nuha.elmaghrabi@frb.gov,*                         (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/​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 4022. 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;                          ( print page 9035)    

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

*Collection title:*                     Recordkeeping Provisions Associated with the Interagency Statement on Complex Structured Finance Activities.                

*Collection identifier:*                     FR 4022.                

*OMB control No.:*                     7100-0311.                

*General description of collection:*                     This interagency guidance (the Statement) [1]                                          states that certain financial institutions should establish and maintain written policies and procedures for identifying, evaluating, assessing, documenting, and controlling risks associated with complex structured finance transactions (CSFTs) and should retain certain documents related to elevated risk CSFTs,[2]                                          which are a subcategory of CSFTs. The FR 4022 covers these information collections for financial institutions that are subject to the Statement and that are supervised by the Board.                

*Frequency:*                     On-going.                

*Respondents:*                     State member banks, bank holding companies (other than foreign banking organizations), savings and loan holding companies, and U.S. branches and agencies of foreign banks.                

*Total estimated number of respondents:*                     14.                

*Total estimated annual burden hours:*                     140.                

Board of Governors of the Federal Reserve System, January 31, 2025.

Benjamin W. McDonough,

Deputy Secretary and Ombuds of the Board.

# Footnotes

1.                             Interagency Statement on Sound Practices Concerning Elevated Risk Complex Structured Finance Activities (the Statement) (January 11, 2007), available at                         *https://www.federalregister.gov/​documents/​2007/​01/​11/​07-55/​interagency-statement-on-sound-practices-concerning-elevated-risk-complex-structured-finance.*
        Back to Citation      

2.                             See section III, part A, “Identifying Elevated Risk CSFTs,” of the final interagency statement for more details.                    
        Back to Citation      

[FR Doc. 2025-02256 Filed 2-4-25; 8:45 am]

BILLING CODE 6210-01-P