[Federal Register Volume 89, Number 221 (Friday, November 15, 2024)]
[Notices]
[Pages 90286-90287]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26705]
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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
Treasury Securities and Agency Debt and Mortgage-Backed Securities
Reporting Requirements (FR 2956; OMB No. 7100-0383).
DATES: The revisions are effective December 16, 2024.
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
[[Page 90287]]
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.
On the page displayed at the link above, you can find the supporting
information by referencing the collection identifier, FR 2956.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collection
Collection title: Treasury Securities and Agency Debt and Mortgage-
Backed Securities Reporting Requirements.
Collection identifier: FR 2956.
OMB control number: 7100-0383.
General description of collection: The FR 2956 collects detailed
data on depository institutions' daily transactions trading of
marketable U.S. Treasury securities and transactions trading of the
debt and mortgage-backed securities (MBS) issued by U.S. federal
government agencies including government-sponsored enterprises
(agencies). The 2956 has two parts: Part 1 collects data on
transactions in U.S. Treasury debt, and Part 2 collects transactions in
debt and MBS issued by agencies. Every national bank, state member
bank, state non-member bank, savings association, or U.S. branch and
agency of a foreign bank filing a Notice by Financial Institutions of
Government Securities Broker or Government Securities Dealer Activities
(Form G-FIN; OMB No. 7100-0224) with average daily transaction volumes
of over $100 million, for U.S. Treasury debt, or over $50 million, for
agency-issued debt and MBS, during the prior fiscal year is subject to
the these reporting requirements. Depository institutions subject to
the reporting requirements of the FR 2956 electronically report
transactions through the Board's data collection vendor, the Financial
Industry Regulatory Authority (FINRA), utilizing its Trade Reporting
and Compliance Engine (TRACE). Broker-dealers that are members of FINRA
report transactions pursuant to the FINRA rules, and not the FR 2956.
The Board receives data on transactions executed by FINRA's broker-
dealer members from FINRA, but the depository institutions subject to
the FR 2956 are not members of FINRA and are not subject to its rules.
Frequency: Daily, event-generated.
Respondents: Depository institutions that meet the above reporting
thresholds. Prime brokers or depository institutions who file Form G-
FIN and are FINRA members acting as an executing broker and that
therefore already are subject to TRACE reporting pursuant to FINRA
rules are exempt from this reporting requirement.
Total estimated number of respondents: 22.
Total estimated change in burden: (11,000).
Total estimated annual burden hours: 22,000.
Current actions: On July 1, 2024, the Board published a notice in
the Federal Register (89 FR 54462) requesting public comment for 60
days on the extension, with revision, of the FR 2956. The Board
proposed to revise Part 1 of the FR 2956 report, which pertains to the
reporting of transactions in U.S. Treasury securities, by updating (i)
the timeframe within which a depository institution subject to the
reporting requirements of Part 1 of the FR 2956 must report
transactions in U.S. Treasury securities, and (ii) for transactions
executed electronically, the minimum increment of time that must be
used for reporting the execution times. The Board also proposed certain
technical and clarifying revisions to Part 2 of the FR 2956 report,
intended to make the definitions clearer and to correct an error. The
comment period for this notice expired on August 30, 2024. The Board
did not receive any comments. The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve System, November 12,
2024.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2024-26705 Filed 11-14-24; 8:45 am]
BILLING CODE 6210-01-P