Federal Register / Vol. 87, No. 90 / Tuesday, May 10, 2022 / Notices 28009 

1 12 U.S.C. 1844(c)(1)(A). 2 83 FR 42680 (August 27, 2018). 

market. In short, this collection helps 

foster competition in local 

telecommunications markets by 

ensuring that competing 

telecommunications providers can 

provide services to customers in 

multiple tenant environments. 

Federal Communications Commission. 

Marlene Dortch, 

Secretary, Office of the Secretary. 

[FR Doc. 2022–09940 Filed 5–9–22; 8:45 am] 

BILLING CODE 6712–01–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 Report of 

Institution-to-Aggregate Granular Data 

on Assets and Liabilities on an 

Immediate Counterparty Basis (FR 2510; 

OMB No. 7100–0376). 

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 

clearance officer, whose name appears 

above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: Report of Institution-toAggregate Granular Data on Assets and 

Liabilities on an Immediate 

Counterparty Basis. 

Agency form number: FR 2510. 

OMB control number: 7100–0376. 

Frequency: Quarterly. 

Respondents: Any bank holding 

company (BHC) that is organized under 

the laws of the United States or any U.S. 

state and that is identified as a global 

systemically important bank (G–SIB) 

holding company under the Board’s 

Regulation Q. 

Estimated number of respondents: 8. 

Estimated average hours per response: 

568. 

Estimated annual burden hours: 

18,176. 

General description of report: The FR 

2510 collects granular exposure data on 

the assets, liabilities, and off-balance 

sheet holdings of G–SIBs, providing 

breakdowns by country, instrument, 

currency, maturity, sector, and other 

factors, and also collects country 

exposure data on an immediate 

counterparty basis and detailed 

information on firms’ derivatives 

exposures. The information collected by 

the FR 2510 supports the Board’s 

supervision of U.S. G–SIBs by allowing 

for a more complete balance sheet 

analysis of these firms and allows the 

Board to more closely monitor the 

systemic impacts of such firms’ 

activities and investments. 

Legal authorization and 

confidentiality: The FR 2510 is 

authorized by section 5 of the Bank 

Holding Company Act (BHC Act). 

Section 5 of the BHC Act authorizes the 

Board to require a bank holding 

company and any subsidiary of such 

company to submit reports under oath 

to keep the Board informed as to its 

financial condition, systems for 

monitoring and controlling financial 

and operating risks, and transactions 

with depository institution subsidiaries 

of the bank holding company.1 The FR 

2510 is mandatory for U.S. G–SIBs. 

The information collected in the FR 

2510 is collected as part of the Board’s 

supervisory process and is therefore 

considered confidential pursuant to 

exemption 8 of the Freedom of 

Information Act (FOIA), which protects 

information contained in ‘‘examination, 

operating, or condition reports’’ 

obtained in the bank supervisory 

process. In addition, individual 

respondents may request that 

information be kept confidential 

pursuant to exemption 4 of the FOIA, 

which protects nonpublic commercial 

or financial information, which is both 

customarily and actually treated as 

private by the respondent. 

Determinations of confidentiality based 

on exemption 4 of the FOIA would be 

made on a case-by-case basis. 

Current actions: On October 18, 2021, 

the Board published a notice in the 

Federal Register (86 FR 57672) 

requesting public comment for 60 days 

on the extension, without revision, of 

the Report of Institution-to-Aggregate 

Granular Data on Assets and Liabilities 

on an Immediate Counterparty Basis. 

The comment period for this notice 

expired on December 17, 2021. The 

Board received one comment. 

Detailed Discussion of Public 

Comments 

First, the commenter identified 

certain reporting differences between 

the Country Exposure Report (FFIEC 

009; OMB No. 7100–0035) and the FR 

2510 and argued that reporting of 

similar items between the two reports 

should be more aligned in order to 

minimize reporting burden. 

Specifically, the commenter highlighted 

the difference in remaining maturity on 

debt securities held for trading between 

the FFIEC 009 and the FR 2510. On the 

FFIEC 009, only a single bucket 

containing maturities of one year or less 

is required, whereas the FR 2510 

requires four maturity buckets across 

the entire term structure. While the 

Board acknowledges the additional 

burden in reporting all maturity buckets 

in the FR 2510, this was part of the 

original design of the report and was 

meant to ‘‘provide significantly more 

detail regarding the balance sheet and 

derivatives exposures of U.S. G–SIBs.’’ 2

This original design was part of an 

internationally agreed upon process to 

facilitate the aggregation and analysis of 

consistent and comparable data from 

G–SIBs globally. In addition, the FR 

2510 collects a more fulsome set of 

remaining maturity information to better 

understand the credit market and 

liquidity profiles of U.S. G–SIBs, which 

may have systemic implications at the 

individual institution level or the 

aggregate level. The FFIEC 009, on the 

other hand, collects overall country risk 

exposures for banks of all sizes and such 

detail is not needed for smaller 

institutions. 


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28010 Federal Register / Vol. 87, No. 90 / Tuesday, May 10, 2022 / Notices 

3Specifically, the commenter asked for a delayed 

effective date of any changes made to the FR 2510. 

This comment is not applicable to the current 

extension of the FR 2510, as no revisions were 

proposed or are being adopted. 

4See 87 FR 3170 (January 20, 2022). 

The commenter also noted that the FR 

2510 instructions allow respondents to 

use either the final contractual maturity 

or the next repricing date, where 

applicable, for reporting the remaining 

maturity of debt securities. In contrast, 

the FFIEC 009 instructions do not offer 

firms this option and require the use of 

final contractual maturity. The Board 

recognizes that on the FR 2510, firms 

are allowed to report next repricing 

date; however, firms are not required to 

do so. FR 2510 respondents are free to 

report remaining maturity of debt 

securities data on the same basis as the 

FFIEC 009. Also, the option to use final 

contractual maturity or next repricing 

date is comparable to how remaining 

maturity of debt securities is reported 

on the Consolidated Financial 

Statements for Holding Companies (FR 

Y–9C; OMB No. 7100–0128), 

specifically on the Securities Schedule 

HC–B, line items M2 and M2(a)–M2(c). 

Additionally, the commenter 

identified an inconsistency between the 

FR 2510 and the FFIEC 009 with respect 

to the sector utilized for the reporting of 

central bank exposures. On the FR 2510, 

claims on central banks are reported in 

the ‘‘Unallocated’’ sector, which is 

designated for positions for which the 

sector of the counterparty is unknown 

or the sector information does not need 

to be reported. However, the reporting 

instructions to the FFIEC 009 require 

respondents to include central banks in 

the ‘‘Public’’ sector, which includes 

government departments and agencies. 

While the Board acknowledges that this 

difference can cause issues with 

comparability and can be burdensome 

for the reporting institutions, this 

distinction was intentional, as to avoid 

lumping claims on central banks 

together with claims banks have on 

governments such as sovereign bond 

and municipal security holdings. 

Second, the commenter highlighted a 

concern with the inconsistency of 

reporting debt securities on the FR 2510 

and the FR Y–9C. The FR 2510 requires 

debt securities to be broken out into the 

following three categories: Asset-backed 

securities (ABS), Other secured debt 

securities, and unsecured debt 

securities. This segmentation is not the 

same as found on the FR Y–9C, which 

requires respondents to break down 

debt securities into the following six 

groupings: U.S. Treasury securities, U.S. 

government agency and sponsored 

agency obligations, Securities issued by 

states and political subdivisions in the 

U.S., Mortgage-back securities (MBS), 

Asset-backed securities and structured 

financial products, and Other debt 

securities. The commenter pointed out 

that this discrepancy requires firms to 

look through and track features of 

securities that are not captured on other 

reports in great detail, creating 

significant burden. The commenter 

requested that the FR 2510 be modified 

to adopt the debt securities 

classification from the FR Y–9C. While 

the Board acknowledges the burden 

entailed in having two different 

classifications for the same debt 

securities, the internationally-agreed 

template for G–SIBs includes a different 

and less detailed breakdown than that 

which U.S. regulators have specified in 

various regulatory reports including the 

FR Y–9C, which is aggregated around 

several classes of securities that are 

idiosyncratic to and proportionately 

more important in U.S. debt markets. 

Finally, the commenter raised several 

process issues regarding rounding 

differences between the data reported 

on the FR 2510 and the FFIEC 009, 

synchronizing proposed future changes 

to these reports, and providing adequate 

lead time for any proposed revisions to 

the FR 2510.3 With respect to the 

rounding differences, the Federal 

Reserve regularly reviews and updates 

operational controls associated with 

Reporting Central outside of the 

clearance process and will review this 

recommendation accordingly. To the 

degree that there are future proposed 

changes to the FR 2510 or the FFIEC 

009, which apply to both reports, the 

Board will strive to make these changes 

on similar timelines and provide 

adequate lead time for such changes. 

The Board does not plan at this time to 

propose changes to the FR 2510 that are 

consistent with the current FFIEC 009 

proposal.4 Those proposed changes to 

the FFIEC 009 are not applicable to the 

FR 2510. 

The Board believes that the 

differences in reporting between the FR 

2510, the FFIEC 009, and the FR Y–9C 

are warranted for the reasons described 

above. Therefore, the Board will not 

adopt any revisions to the FR 2510 as 

part of the extension of this collection. 

Board of Governors of the Federal Reserve 

System, May 4, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–09979 Filed 5–9–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 

that are considered in acting on the 

applications are set forth in paragraph 7 

of the Act (12 U.S.C. 1817(j)(7)). 

The public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in paragraph 7 of 

the Act. 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington, DC 20551–0001, not later 

than May 25, 2022. 

A. Federal Reserve Bank of Chicago 

(Colette A. Fried, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690–1414: 

1. Suresh Alla, individually, and as 

general partner of Thornwood Holdings 

LP, both of Bettendorf, Iowa; to join the 

Alla Family Control Group, a group 

acting in concert, to acquire voting 

shares of AmBank Holdings, Inc., and 

thereby indirectly acquire voting shares 

of American Bank and Trust N.A., both 

of Davenport, Iowa. 

Board of Governors of the Federal Reserve 

System, May 5, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–10027 Filed 5–9–22; 8:45 am] 

BILLING CODE 6210–01–P 


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