[Federal Register Volume 88, Number 40 (Wednesday, March 1, 2023)]
[Notices]
[Pages 12933-12934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04138]
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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, with revision, the
Reporting, Recordkeeping, and Disclosure Requirements Associated with
Regulation Q (FR Q; OMB No. 7100-0313).
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.
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. Board-approved 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 (which contain more detailed
information about the information collections and burden estimates than
this notice), 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/reportingforms/home/review 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, With Revision, of the Following Information Collection
Collection title: Reporting, Recordkeeping, and Disclosure
Requirements Associated with Regulation Q.
Collection identifier: FR Q.
OMB control number: 7100-0313.
Effective Date: The revisions are applicable as of March 1, 2023.
General description of collection: The Board's Regulation Q--
Capital Adequacy of Bank Holding Companies, Savings and Loan Holding
Companies, and State Member Banks (12 CFR part 217) sets forth the
capital adequacy requirements for state member banks (SMBs), certain
bank holding companies (BHCs), U.S. intermediate holding companies
(IHCs), and certain covered savings and loan holding companies
(SLHCs).\1\
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\1\ The Board's capital rule generally does not apply to BHCs or
covered SLHCs that meet the requirements of the Small Bank Holding
Company and Savings and Loan Holding Company Policy Statement, 12
CFR part 225, Appendix C. For the definition of ``Covered savings
and loan holding company,'' see 12 CFR 217.2.
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The reporting, recordkeeping, and disclosure requirements included
in the FR Q information collection provide the Board and other
stakeholders, including market participants, with information regarding
the interaction between firms
[[Page 12934]]
and the regulatory capital framework. Specifically, the reporting and
recordkeeping requirements allow the Board to verify that firms are
appropriately implementing the capital framework; they also provide the
Board with information necessary for monitoring firms participating in
the advanced approaches framework. The disclosure requirements are
intended to support market discipline by providing information
regarding banking organizations' activities, overall risk profiles, and
risk management policies. Together, these requirements help to ensure
the safety and soundness of the financial system by facilitating the
identification of problems at firms and ensuring that firms have
implemented any corrective actions imposed by the Board, as well as by
allowing stakeholders to make meaningful assessments of firms'
financial position.
Frequency: Annual, quarterly.
Respondents: SMBs, certain BHCs, IHCs, and certain covered SLHCs.
Total estimated number of respondents:
Minimum Capital Ratios
Recordkeeping (Ongoing)--1,055.
Standardized Approach
Reporting (Ongoing)--1.
Recordkeeping (Initial Setup)--1.
Recordkeeping (Ongoing)--1,055.
Disclosure (Initial Setup)--1.
Disclosure (Ongoing)--38.
Advanced Approach
Reporting (Initial Setup)--1.
Reporting (Ongoing)--21.
Recordkeeping (Initial Setup)--1.
Recordkeeping (Ongoing)--21.
Recordkeeping (Ongoing quarterly)--21.
Disclosure (Initial setup)--1.
Disclosure (Ongoing)--21.
Disclosure (Ongoing quarterly)--21.
Disclosure (Ongoing quarterly Table 13)--27.
Estimated average hours per response:
Minimum Capital Ratios
Recordkeeping (Ongoing)--16.
Standardized Approach
Reporting (Ongoing)--1.
Recordkeeping (Initial Setup)--122.
Recordkeeping (Ongoing)--20.
Disclosure (Initial Setup)--226.25.
Disclosure (Ongoing)--131.25.
Advanced Approach
Reporting (Initial Setup)--161.
Reporting (Ongoing)--111.77.
Recordkeeping (Initial Setup)--299.
Recordkeeping (Ongoing)--429.
Recordkeeping (Ongoing quarterly)--20.
Disclosure (Initial setup)--328.
Disclosure (Ongoing)--5.78.
Disclosure (Ongoing quarterly)--41.5.
Disclosure (Ongoing quarterly Table 13)--5.
Total estimated change in burden: 34 hours.
Total estimated annual burden hours: 76,250.\2\
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\2\ More detailed information regarding this collection,
including more detailed burden estimates, can be found in the OMB
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you
can find the OMB Supporting Statement by referencing the collection
identifier, FR Q.
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Current actions: On November 4, 2022, the Board published a notice
in the Federal Register (87 FR 66701) requesting public comment for 60
days on the extension, with revision, of the FR Q. The Board proposed
to revise the FR Q information collection to account for a reporting
provision in section 217.37(c)(4)(i)(E) of Regulation Q and a
disclosure provision in section 217.124(a) of Regulation Q, which have
not been previously cleared by the Board under the PRA. The comment
period for this notice expired on January 3, 2023. The Board did not
receive any comments. The revisions will be implemented as proposed.
Board of Governors of the Federal Reserve System, February 23,
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-04138 Filed 2-28-23; 8:45 am]
BILLING CODE 6210-01-P