[Federal Register Volume 85, Number 41 (Monday, March 2, 2020)]
[Notices]
[Pages 12295-12296]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-04196]
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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 Reporting Requirements Associated with Regulation A (FR
A; OMB No. 7100-0373).
DATES: Comments must be submitted on or before May 1, 2020.
[[Page 12296]]
ADDRESSES: You may submit comments, identified by FRA, 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: [email protected]. Include the OMB
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 identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006,
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--Shagufta Ahmed--
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: A copy of the Paperwork Reduction Act
(PRA) OMB submission, including any reporting form and instructions,
the supporting statement, and other documentation will be placed into
OMB's public docket files, if approved. These documents will also 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 below.
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 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.
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;
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: Reporting Requirements Associated with Regulation A.
Agency form number: FR A.
OMB control number: 7100-0373.
Frequency: Event-generated.
Respondents: Entities or persons borrowing under an emergency
lending program or facility established pursuant to section 13(3) of
the Federal Reserve Act.\1\
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\1\ 12 U.S.C. 343(3).
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Estimated number of respondents: 5.
Estimated average hours per response: 8.
Estimated annual burden hours: 40.
General description of report: The Board has established, by
regulation, policies and procedures with respect to emergency lending
under section 13(3) of the Federal Reserve Act, as amended by sections
1101 and 1103 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (the Dodd-Frank Act). With the FR A information
collection, the Federal Reserve complies with the requirements of the
Federal Reserve Act, as amended by section 1101(a)(6) of the Dodd-Frank
Act.
Section 1101 of the Dodd-Frank Act amended section 13(3) to provide
that a Federal Reserve Bank may rely on a written certification from
the person or from the chief executive officer or other authorized
officer of the entity, at the time the person or entity initially
borrows under the program or facility, that the person or entity is not
insolvent. The amendments provide that a borrower is considered
insolvent if the borrower is in bankruptcy, resolution under Title II
of Public Law 111-203 (12 U.S.C. 5381 et seq.) or any other Federal or
State insolvency proceeding.
Legal authorization and confidentiality: The FR A is authorized
pursuant to section 13(3) of the Federal Reserve Act, which allows for
the written certification. A Federal Reserve Bank may not lend to an
entity that is insolvent. The obligation to respond, therefore, is
required to obtain a benefit.
The information collected under FR A may be kept confidential under
exemption 4 of the Freedom of Information Act, which protects
commercial or financial information obtained from a person that is
privileged or confidential.\2\
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\2\ 5 U.S.C. 552(b)(4).
Board of Governors of the Federal Reserve System, February 25,
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-04196 Filed 2-28-20; 8:45 am]
BILLING CODE 6210-01-P