Federal Register / Vol. 87, No. 108 / Monday, June 6, 2022 / Notices 34269 

Consolidated Liabilities (‘‘FR XX–1’’) to 

calculate liabilities of these institutions. 

Under Regulation XX, liabilities of a 

foreign banking organization’s U.S. 

operations are calculated using the riskweighted asset methodology for 

subsidiaries subject to the risk-based 

capital rule, plus the assets of all 

branches, agencies, and nonbank 

subsidiaries, calculated in accordance 

with applicable accounting standards. 

Liabilities attributable to the U.S. 

operations of a foreign financial 

company that is not a foreign banking 

organization are calculated in a similar 

manner to the method described for 

foreign banking organizations, and 

liabilities of a U.S. subsidiary not 

subject to the risk-based capital rule are 

calculated based on the U.S. 

subsidiary’s liabilities under applicable 

accounting standards. The Federal 

Reserve used information collected on 

the Capital and Asset Report for Foreign 

Banking Organizations (‘‘FR Y–7Q’’), the 

FR Y–9C, and the FR XX–1 to calculate 

liabilities of these institutions. 

By order of the Board of Governors of 

the Federal Reserve System, acting 

through the Director of Supervision and 

Regulation under delegated authority. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2022–12007 Filed 6–3–22; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Privacy Act of 1974; System of 

Records 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice of a modified system of 

records. 

SUMMARY: Pursuant to the provisions of 

the Privacy Act of 1974, notice is given 

that the Board of Governors of the 

Federal Reserve System (Board) 

proposes to modify an existing system 

of records, entitled BGFRS–5, ‘‘FRB— 

EEO Discrimination Complaint File.’’ 

BGFRS–5 includes documents relating 

to Equal Employment Opportunity 

(EEO) complaints and the subsequent 

decisions or determinations made by the 

Board affecting individuals under the 

Board’s EEO regulations and 

procedures. 

DATES: Comments must be received on 

or before July 6, 2022. This new system 

of records will become effective July 6, 

2022, without further notice, unless 

comments dictate otherwise. The Office 

of Management and Budget (OMB), 

which has oversight responsibility 

under the Privacy Act, requires a 30-day 

period prior to publication in the 

Federal Register in which to review the 

system and to provide any comments to 

the agency. The public is then given a 

30-day period in which to comment, in 

accordance with 5 U.S.C. 552a(e)(4) and 

(11). 

ADDRESSES: You may submit comments, 

identified by BGFRS–5 ‘‘FRB—EEO 

Discrimination Complaint File,’’ 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 SORN name 

and 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 will be made 

available on the Board’s website at 

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

foia/proposedregs.aspx as submitted, 

unless modified for technical reasons or 

to remove sensitive personally 

identifiable information. Public 

comments may also be viewed 

electronically and in-person in Room 

M–4365A, 2001 C St. NW, Washington, 

DC 20551, between 9:00 a.m. and 5:00 

p.m. during federal business weekdays. 

FOR FURTHER INFORMATION CONTACT: 

David B. Husband, Senior Counsel, 

(202) 530–6270, or david.b.husband@

frb.gov; Legal Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551. If 

you are deaf, hard of hearing, or have a 

speech disability, please dial 7–1–1 to 

access telecommunication relay 

services. 

SUPPLEMENTARY INFORMATION: The Board 

is modifying this system to reflect 

general updates to the system. 

Specifically, the Board is updating the 

system manager, the purpose of the 

system, the category of individuals in 

the system, the policies and practices 

for retention and disposal of records, 

and the administrative and technical 

safeguards. Accordingly, the Board is 

providing contact information for the 

system manager and is amending the 

purpose of the system to further identify 

the various equal employment 

opportunity statutes with which the 

Board strives to comply. The Board is 

adding contractors to the ‘‘Category of 

Individuals’’ section to reflect that 

contractor’s complaints may be stored in 

the system even if dismissed 

procedurally and is amending the 

‘‘Policies and Practices for Retention 

and Disposal of Records’’ section to 

reflect differences in the retention 

schedules between the informal and 

formal complaint process. In addition, 

the Board is updating this system of 

records to provide additional detail 

about the controls and other safeguards 

in place for records in the 

‘‘Administrative, Technical, and 

Physical Safeguards’’ section. The Board 

is also taking the opportunity to update 

the ‘‘Routine Uses’’ section to 

incorporate a link to the Board’s general 

routine uses. The Board is not amending 

or establishing any new routine uses. 

The Board is also making technical 

changes to BGFRS–5 consistent with the 

template laid out in OMB Circular No. 

A–108. Accordingly, the Board has 

made technical corrections and nonsubstantive language revisions to the 

following categories: ‘‘Policies and 

Practices for Storage of Records,’’ 

‘‘Policies and Practices for Retrieval of 

Records,’’ ‘‘Policies and Practices for 

Retention and Disposal of Records,’’ 

‘‘Administrative, Technical and 

Physical Safeguards,’’ ‘‘Record Access 

Procedures,’’ ‘‘Contesting Record 

Procedures,’’ and ‘‘Notification 

Procedures.’’ The Board has also created 

the following new fields: ‘‘Security 

Classification’’ and ‘‘History.’’ 

SYSTEM NAME AND NUMBER: 

BGFRS–5 ‘‘FRB—EEO Discrimination 

Complaint File.’’ 

SECURITY CLASSIFICATION: 

Unclassified. 

SYSTEM LOCATION: 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

SYSTEM MANAGER(S): 

Sheila Clark, Program Director— 

Office of Diversity and Inclusion 

(OD&I), Management Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551, 

(202) 452–2883, or sheila.clark@frb.gov. 

AUTHORITY FOR MAINTENANCE OF THE SYSTEM: 

Sections 10 and 11 of the Federal 

Reserve Act (12 U.S.C. 244 and 248). 

PURPOSE(S) OF THE SYSTEM: 

These records are collected and 

maintained to assist the Board in 

carrying out its responsibilities under 

the Title VII of the Civil Rights Act of 


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34270 Federal Register / Vol. 87, No. 108 / Monday, June 6, 2022 / Notices 

1964, the Rehabilitation Act of 1973, the 

Age in Discrimination in Employment 

Act of 1967, the Equal Pay Act of 1963, 

the Genetic Information and 

Nondiscrimination Act of 2008, and 

other nondiscrimination statutes. 

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM: 

Applicants for Board employment, 

and past and present Board employees 

who have filed a complaint of 

discrimination or appealed a 

determination made by an official of the 

Board relating to equal employment 

opportunity. Past and present 

contractors who file a complaint may 

also be covered by this system. 

CATEGORIES OF RECORDS IN THE SYSTEM: 

Documents relating to a complaint, 

and the decision or determination made 

by the Board affecting an individual 

under the Board’s EEO regulations and 

procedures. The records consist of the 

initial complaint or appeal letters or 

notices to the individual, record of 

hearings when conducted, materials 

placed into the record to support the 

decision or determination, affidavits or 

statements, testimonies of witnesses, 

investigative reports, instructions to the 

Board and/or individual about action to 

be taken to comply with decisions, and 

related correspondence, opinions and 

recommendations. 

RECORD SOURCE CATEGORIES: 

Information is provided by the 

individual to whom the record pertains, 

Board employees, testimonies of 

witnesses, official documents relating to 

the appeal, grievance, or complaints, 

and correspondence from organizations 

or persons. 

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

PURPOSES OF SUCH USES: 

General routine uses A, B, C, D, F, G, 

I, and J apply to this system. These 

general routine uses are located at 

https://www.federalreserve.gov/files/ 

SORN-page-general-routine-uses-ofboard-systems-of-records.pdf and are 

published in the Federal Register at 83 

FR 43872 at 43873–74 (August 28, 

2018). Records may also be used to 

disclose information to management as 

a data source for production of summary 

descriptive statistics and analytical 

studies in support of the function for 

which the records are collected and 

maintained, or for related personnel 

management functions or manpower 

studies and may also be utilized to 

respond to investigative or legal 

requests for statistical information 

(without personal identification of 

individuals). 

POLICIES AND PRACTICES FOR STORAGE OF

RECORDS: 

Paper records are stored in locked file 

cabinets with access limited to staff 

with a need to know. Electronic records 

are stored on a secure server with access 

limited to staff with a need to know. 

POLICIES AND PRACTICES FOR RETRIEVAL OF

RECORDS: 

Records can be retrieved by the 

individual’s name. 

POLICIES AND PRACTICES FOR RETENTION AND

DISPOSAL OF RECORDS: 

Records generated in the informal 

complaint process should be destroyed 

3 years after resolution of case and 7 

years after resolution of a cases in the 

formal complaint process. 

ADMINISTRATIVE, TECHNICAL, AND PHYSICAL

SAFEGUARDS: 

Paper records are secured by lock and 

key and electronic files are stored on 

secure servers. The system has the 

ability to track individual user actions 

within the system. The audit and 

accountability controls are based on 

NIST and Board standards which, in 

turn, are based on applicable laws and 

regulations. The controls assist in 

detecting security violations and 

performance or other issues in the 

system. Access to the system is 

restricted to authorized users within the 

Board who require access for official 

business purposes. Users are classified 

into different roles and common access 

and usage rights are established for each 

role. User roles are used to delineate 

between the different types of access 

requirements such that users are 

restricted to data that is required in the 

performance of their duties. Periodic 

assessments and reviews are conducted 

to determine whether users still require 

access, have the appropriate role, and 

whether there have been any 

unauthorized changes. 

RECORD ACCESS PROCEDURES: 

The Privacy Act allows individuals 

the right to access records maintained 

about them in a Board system of 

records. Your request for access must: 

(1) contain a statement that the request 

is made pursuant to the Privacy Act of 

1974; (2) provide either the name of the 

Board system of records expected to 

contain the record requested or a 

concise description of the system of 

records; (3) provide the information 

necessary to verify your identity; and (4) 

provide any other information that may 

assist in the rapid identification of the 

record you seek. 

Current or former Board employees 

may make a request for access by 

contacting the Board office that 

maintains the record. The Board 

handles all Privacy Act requests as both 

a Privacy Act request and as a Freedom 

of Information Act request. The Board 

does not charge fees to a requestor 

seeking to access or amend his/her 

Privacy Act records. 

You may submit your Privacy Act 

request to the—Secretary of the Board, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

You may also submit your Privacy Act 

request electronically by filling out the 

required information at: https://

foia.federalreserve.gov/. 

CONTESTING RECORD PROCEDURES: 

The Privacy Act allows individuals to 

seek amendment of information that is 

erroneous, irrelevant, untimely, or 

incomplete and is maintained in a 

system of records that pertains to them. 

To request an amendment to your 

record, you should clearly mark the 

request as a ‘‘Privacy Act Amendment 

Request.’’ You have the burden of proof 

for demonstrating the appropriateness of 

the requested amendment and you must 

provide relevant and convincing 

evidence in support of your request. 

Your request for amendment must: (1) 

provide the name of the specific Board 

system of records containing the record 

you seek to amend; (2) identify the 

specific portion of the record you seek 

to amend; (3) describe the nature of and 

reasons for each requested amendment; 

(4) explain why you believe the record 

is not accurate, relevant, timely, or 

complete; and (5) unless you have 

already done so in a related Privacy Act 

request for access or amendment, 

provide the necessary information to 

verify your identity. 

NOTIFICATION PROCEDURES: 

Same as ‘‘Access procedures’’ above. 

You may also follow this procedure in 

order to request an accounting of 

previous disclosures of records 

pertaining to you as provided for by 5 

U.S.C. 552a(c). 

EXEMPTIONS PROMULGATED FOR THE SYSTEM: 

Certain portions of this system of 

records may be exempt from 5 U.S.C. 

552a(c)(3), (d), (e)(1), (e)(4)(G), (H), and 

(I), and (f) of the Privacy Act pursuant 

to 5 U.S.C. 552a(k)(2). 

HISTORY: 

This SORN was previously published 

in the Federal Register at 73 FR 24984 

at 24991 (May 6, 2008). The SORN was 

also amended to incorporate two new 

routine uses required by OMB at 83 FR 

43872 (August 28, 2018). 


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Federal Register / Vol. 87, No. 108 / Monday, June 6, 2022 / Notices 34271 

Board of Governors of the Federal Reserve 

System. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2022–12034 Filed 6–3–22; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Privacy Act of 1974; System of 

Records 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Notice of a modified system of 

records. 

SUMMARY: Pursuant to the provisions of 

the Privacy Act of 1974, notice is given 

that the Board of Governors of the 

Federal Reserve System (Board) 

proposes to modify an existing system 

of records, entitled BGFRS–41, ‘‘FRB— 

Ethics Program Records,’’ which 

maintains information collected in 

connection with the administration of 

the Board’s Ethics Program and enables 

the Board to ensure public trust in the 

Board’s and the Federal Open Market 

Committee’s monetary responsibilities. 

DATES: This modified system of records 

will become effective upon publication 

in the Federal Register, without further 

notice, unless comments dictate 

otherwise. Comments must be received 

on or before July 6, 2022. 

The Office of Management and Budget 

(OMB), which has oversight 

responsibility under the Privacy Act, 

requires a 30-day period prior to 

publication in the Federal Register in 

which to review the system and to 

provide any comments to the agency. 

The public is then given a 30-day period 

in which to comment, in accordance 

with 5 U.S.C. 552a(e)(4) and (11). 

ADDRESSES: You may submit comments, 

identified by BGFRS–41 ‘‘FRB—Ethics 

Program Records,’’ 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 name and 

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 will be made 

available on the Board’s website at 

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

foia/proposedregs.aspx as submitted, 

unless modified for technical reasons or 

to remove sensitive personally 

identifiable information. Public 

comments may also be viewed 

electronically and in-person in Room 

M–4365A, 2001 C St. NW, Washington, 

DC 20551, between 9:00 a.m. and 5:00 

p.m. during federal business weekdays. 

FOR FURTHER INFORMATION CONTACT: 

David B. Husband, Senior Counsel, 

(202) 530–6270 or david.b.husband@

frb.gov; Legal Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551. If 

you are deaf, hard of hearing, or have a 

speech disability, please dial 7–1–1 to 

access telecommunication relay 

services. 

SUPPLEMENTARY INFORMATION: The Board 

is modifying this system of records to 

account for the addition to the system 

of information related to compliance by 

certain Board and Reserve Bank 

employees, including Board members 

and Reserve Bank presidents, with the 

rules and reporting requirements set out 

in the Federal Open Market Committee’s 

(FOMC) Investment and Trading Policy 

for FOMC Officials (‘‘investment and 

trading policy’’). As a result, the Board 

is updating the ‘‘Categories of Records 

in the System’’ section to indicate that 

the system will include investment and 

trading activity information collected 

for the purposes of administering the 

investment and trading policy. In 

addition, the Board is updating the 

‘‘Categories of Individuals Covered by 

the System’’ and ‘‘Record Source 

Categories’’ sections to indicate that the 

system will now include information 

relating to Reserve Bank personnel. In 

light of the purposes of the investment 

and trading policy and the new 

information that will be collected 

pursuant to the policy, the Board is also 

expanding the purpose of the system to 

align with the Board’s commitment to 

upholding the highest standards of 

ethical conduct and the maintenance of 

public trust, which is critical to the 

execution of the Board’s and the 

FOMC’s monetary policy 

responsibilities. 

Finally, in the ‘‘Categories of Records 

in the System’’ section, the Board is 

replacing the reference to ‘‘ethics 

inquiries’’ with a broader reference to 

‘‘ethics matters;’’ updating the System 

Manager; and updating the 

‘‘Administrative, Physical, and 

Technical Safeguards’’ section to better 

reflect the applicable safeguards. 

SYSTEM NAME AND NUMBER: 

BGFRS–41, ‘‘FRB—Ethics Program 

Records’’ 

SECURITY CLASSIFICATION: 

Unclassified. 

SYSTEM LOCATION: 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

SYSTEM MANAGER(S): 

Sean Croston, Alternate Designated 

Agency Ethics Official, Legal Division, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551, (202) 452–2810, or 

sean.d.croston@frb.gov. 

AUTHORITY FOR MAINTENANCE OF THE SYSTEM: 

12 U.S.C. 244; Ethics in Government 

Act of 1978, 5 U.S.C. app; Ethics Reform 

Act of 1989, Pub. L. 101–194; 5 CFR 

2638.104(c)(2). 

PURPOSE(S) OF THE SYSTEM: 

This system of records enables the 

Board to administer the Board’s Ethics 

Program consistent with applicable 

requirements in furtherance of the 

Board’s commitment to uphold the 

highest standards of ethical conduct. 

This system of records also enables the 

Board to ensure public trust in the 

Board’s as well as the Federal Open 

Market Committee’s monetary policy 

responsibilities. 

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM: 

Individuals covered by this system 

consist of prospective, current, and 

former Board and Federal Reserve Bank 

employees, including Board members 

and Reserve Bank presidents. 

CATEGORIES OF RECORDS IN THE SYSTEM: 

This system covers records regarding 

ethics matters involving prospective, 

current, and former Board and Reserve 

Bank employees. For example, the 

records may contain, without limitation: 

the prospective, current, or former 

employee’s name, address, telephone 

number, and email address; ethics 

advice (including waivers); 

compensated outside employment 

approvals (i.e., employment outside of 

or unrelated to the employee’s official 

Board duties); information in support of 

Public Financial Disclosure Reports and 

Confidential Financial Disclosure 

Reports that is not already covered by 

the government-wide system of record 

notices ‘‘OGE/GOVT–1, Executive 

Branch Public Financial Disclosure 

Reports and Other Name-Retrieved 


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