Rules and Regulations. Joint notice and request for comment

Agency: Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC)
Action: Joint notice and request for comment
Citation: FR Doc. 2019-22654

Summary

In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On June 25, 2019, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to extend for three years without revision the Market Risk Regulatory Report for Institutions Subject to the Market Risk Capital Rule (FFIEC 102), which is currently an approved collection of information for each agency. The comment period for the June 2019 notice ended on August 26, 2019. As described in the SUPPLEMENTARY INFORMATION section, no comments were received on the proposal; therefore, the FFIEC and the agencies will proceed with the extension of the FFIEC 102 as proposed. In addition, the agencies are giving notice that they are sending the collections to OMB for review.

Dates

Comments must be submitted on or before November 18, 2019.

Supplementary Information

On June 25, 2019, the agencies requested public comment on a proposal to extend for three years, without revision, the FFIEC 102. The comment period expired on August 26, 2019 and no comments were received. The FFIEC and the agencies will proceed with the extension of the FFIEC 102 as proposed and the agencies are sending the collections to OMB for review. Report Titles: Market Risk Regulatory Report for Institutions Subject to the Market Risk Capital Rule. Form Numbers: FFIEC 102. Frequency of Response: Quarterly. Affected Public: Business or other for profit. OCC OMB Number: 1557-0325. Estimated Number of Respondents: 13 national banks and federal savings associations. Estimated Average Time per Response: 12 hours per quarter. Estimated Total Annual Burden: 624 hours. Board OMB Number: 7100-0365. Estimated Number of Respondents: 38 state member banks, bank holding companies, savings and loan holding companies, and intermediate holding companies. Estimated Average Time per Response: 12 hours per quarter. Estimated Total Annual Burden: 1,824 hours. FDIC OMB Number: 3064-0199. Estimated Number of Respondents: 1 insured state nonmember bank and state savings association. Estimated Average Time per Response: 12 hours per quarter. Estimated Total Annual Burden: 48 hours. General Description of Reports The Market Risk Regulatory Report for Institutions Subject to the Market Risk Capital Rule (FFIEC 102) is filed quarterly with the agencies and provides information for market risk institutions, defined for this purpose as those institutions that are subject to the market risk capital rule as incorporated into Subpart F of the agencies' regulatory capital rule 1 (market risk institutions). Each market risk institution is required to file the FFIEC 102 for the agencies' use in assessing the reasonableness and accuracy of the institution's calculation of its minimum capital requirements under the market risk capital rule and in evaluating the institution's capital in relation to its risks. Additionally, the market risk information collected in the FFIEC 102: (a) Permits the agencies to monitor the market risk profile of, and evaluate the impact and competitive implications of, the market risk capital rule on individual market risk institutions and the industry as a whole; (b) provides the most current statistical data available to identify areas of market risk on which to focus for onsite and offsite examinations; (c) allows the agencies to assess and monitor the levels and components of each reporting institution's risk-based capital requirements for market risk and the adequacy of the institution's capital under the market risk capital rule; and (d) assists market risk institutions in validating their implementation of the market risk framework. 1 12 CFR 3.201 (OCC); 12 CFR 217.201 (Board); and 12 CFR 324.201 (FDIC). The market risk capital rule generally applies to any banking institution with aggregate trading assets and trading liabilities equal to (a) 10 percent or more of quarter-end total assets or (b) $1 billion or more. Statutory Basis and Confidential Treatment The quarterly FFIEC 102 information collection is mandatory for market risk institutions: 12 U.S.C. 161 (national banks), 12 U.S.C. 324 (state member banks), 12 U.S.C. 1844(c) (bank holding companies), 12 U.S.C. 1467a (b) (savings and loan holding companies), 12 U.S.C. 5365 (U.S. intermediate holding companies), 12 U.S.C. 1817 (insured state nonmember commercial and savings banks), and 12 U.S.C. 1464 (savings associations). The FFIEC 102 information collections are not given confidential treatment. Request for Comment The agencies invite comment on the following topics related to these collections of information: (a) Whether the information collections are necessary for the proper performance of the agencies' functions, including whether the information has practical utility; (b) The accuracy of the agencies' estimates of the burden of the information collections, 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 collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Comments submitted in response to this joint notice will be shared among the agencies. All comments will become a matter of public record. Dated: October 9, 2019. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System, October 9, 2019. Ann Misback, Secretary of the Board. Federal Deposit Insurance Corporation. Dated at Washington, DC, on October 9, 2019. Annmarie H. Boyd, Assistant Executive Secretary. [FR Doc. 2019-22654 Filed 10-16-19; 8:45 am]