2024-22637. Proposed Agency Information Collection Activities; Comment Request  

  • 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 Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates (FR Y-8; OMB No. 7100-0126).

    DATES:

    Comments must be submitted on or before December 2, 2024.

    ADDRESSES:

    You may submit comments, identified by FR Y-8, by any of the following methods:

    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 confidential business information, identifying information, or contact information. Public comments may also be viewed electronically or in paper in Room M-4365A, 2001 C St NW, Washington, DC 20551, between 9:00 a.m. and 5:00 p.m. on weekdays, except for Federal holidays. 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 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/​home/​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 Y-8. 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;

    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. ( print page 80242)

    Proposal Under OMB Delegated Authority To Extend for Three Years, Without Revision, the Following Information Collection

    Collection title: Holding Company Report of Insured Depository Institutions' Section 23A Transactions with Affiliates.

    Collection identifier: FR Y-8.

    OMB control number: 7100-0126.

    General description of collection: The FR Y-8 collects information on covered transactions between an insured depository institution and its affiliates that are subject to the quantitative limits and other requirements of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W— Transactions Between Member Banks and Their Affiliates (12 CFR part 223). The data to be reported vary based on the activities and subsidiaries of the insured depository institution. A respondent must file a separate FR Y-8 report for each U.S. insured depository institution it controls. The reports are used by the Federal Reserve System to monitor bank exposures to affiliates and to ensure banks' compliance with section 23A.

    Frequency: Quarterly.

    Respondents: U.S. top-tier bank holding companies, intermediate holding companies, and savings and loan holding companies; foreign banking organizations that directly own or control a U.S. subsidiary insured depository institution.

    Total estimated number of respondents: 590.

    Total estimated annual burden hours: 12,178.

    Board of Governors of the Federal Reserve System, September 27, 2024.

    Benjamin W. McDonough,

    Deputy Secretary and Ombuds of the Board.

    [FR Doc. 2024-22637 Filed 10-1-24; 8:45 am]

    BILLING CODE 6210-01-P

Document Information

Published:
10/02/2024
Department:
Federal Reserve System
Entry Type:
Notice
Action:
Notice, request for comment.
Document Number:
2024-22637
Dates:
Comments must be submitted on or before December 2, 2024.
Pages:
80241-80242 (2 pages)
PDF File:
2024-22637.pdf