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[Federal Register Volume 90, Number 23 (Wednesday, February 5, 2025)]
[Notices]
[Pages 9034-9035]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02256]

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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 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: [email protected]. 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, [email protected], (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;

[[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.
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    \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.
    \2\ See section III, part A, ``Identifying Elevated Risk 
CSFTs,'' of the final interagency statement for more details.
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    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.
[FR Doc. 2025-02256 Filed 2-4-25; 8:45 am]
BILLING CODE 6210-01-P
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