[Federal Register Volume 75, Number 126 (Thursday, July 1, 2010)]
[Notices]
[Pages 38096-38097]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-15994]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
SUMMARY: Background. Notice is hereby given of the final approval of a
proposed information collection by the Board of Governors of the
Federal Reserve System (Board) under OMB delegated authority, as per 5
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). Board-approved collections of information are incorporated
into the official OMB inventory of currently approved collections of
information. Copies of the Paperwork Reduction Act Submission,
supporting statements and approved collection of information
instrument(s) are placed into OMB's public docket files. The Federal
Reserve may not conduct or sponsor, and the respondent is not required
to respond to, an information collection that has been extended,
revised, or implemented on or after October 1, 1995, unless it displays
a currently valid OMB control number.
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Michelle Shore--Division of Research and Statistics, Board of
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
OMB Desk Officer--Shagufta Ahmed--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 10235, Washington, DC 20503.
Report title: Reporting and Disclosure Requirements Associated with
the Policy on Payments System Risk.
Agency form number: FR 4102.
OMB control number: 7100-0315.
Frequency: Biennial.
Reporters: Payment and securities settlement systems.
[[Page 38097]]
Estimated annual reporting hours: 210 hours.
Estimated average hours per response: 70 hours.
Number of respondents: 3.
General description of report: This information collection is
mandatory and authorized pursuant the Federal Reserve Act (12 U.S.C.
248(i) & (j), 342, 248(o), 360, and 464). Also, in order to carry out
the purposes of the Expedited Funds Availability Act, Public Law 100-
86, 101 Stat. 635 (1985) (codified as amended at 12 U.S.C. 4001-4010),
the Federal Reserve is given the authority to ``regulate any aspect of
the payment system.'' 12 U.S.C. 4008(c)(1). Because the self-
assessments are to be publicly disclosed and because the Federal
Reserve will not collect any information pursuant to this information
collection beyond what is made publicly available, no confidentiality
issue arises with regard to the FR 4102.
Abstract: The FR 4102 was implemented in January 2007 as a result
of revisions to the Federal Reserve's Payments System Risk (PSR)
policy. Under the revised policy, systemically important payments and
settlement systems subject to the Federal Reserve's authority are
expected to complete and disclose publicly self-assessments against the
principles and minimum standards in the policy. The self-assessment
should be reviewed and approved by the system's senior management and
board of directors upon completion and made readily available to the
public. In addition, a self-assessment should be updated following
material changes to the system or its environment and, at a minimum,
reviewed by the system every two years.
Current Actions: On April 23, 2010, the Federal Reserve published a
notice in the Federal Register (75 FR 21293) seeking public comment for
60 days on the proposal to extend, without revision, the FR4102. The
comment period for this notice expired on June 22, 2010. The Federal
Reserve did not receive any comments.
Board of Governors of the Federal Reserve System, dated: June
28, 2010.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2010-15994 Filed 6-30-10; 8:45 am]
BILLING CODE 6210-01-P