Final Federal Register Notice

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common carriers providing ship-shore
pubic correspondence services.
The information is used by FCC
personnel during inspection and
investigations to insure compliance
with applicable rules. If this information
was not available, enforcement efforts
could be hindered; frequency
congestion in certain bands could
increase; and the financial viability of
some public coast radiotelephone
stations could be threatened.
Federal Communications Commission.
Marlene H. Dortch,
Secretary, Office of the Secretary, Office of
Managing Director.
[FR Doc. 2012–13449 Filed 6–1–12; 8:45 am]
BILLING CODE 6712–01–P

FEDERAL ELECTION COMMISSION
Sunshine Act Meeting
Federal Election Commission.
& TIME: Tuesday June 5, 2012 at
10:00 a.m.
PLACE: 999 E Street NW., Washington,
DC.
STATUS: This meeting will be closed to
the public.
ITEMS TO BE DISCUSSED:
Compliance matters pursuant to 2
U.S.C. 437g.
Audits conducted pursuant to 2
U.S.C. 437g, 438(b), and Title 25, U.S.C.
Matters concerning participation in
civil actions or proceedings or
arbitration.
Internal personnel rules and
procedures or matters affecting a
particular employee.
*
*
*
*
*
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer. Telephone:
(202) 694–1220.
AGENCY:
DATE

Shawn Woodhead Werth,
Secretary and Clerk of the Commission.
[FR Doc. 2012–13395 Filed 6–1–12; 8:45 am]
BILLING CODE 6715–01–M

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FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB With Request
for Comments
Board of Governors of the
Federal Reserve System.
SUMMARY: 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
AGENCY:

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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.
On February 22, 2012, the Federal
Reserve published a notice in the
Federal Register (77 FR 10525)
requesting public comment for 60 days
to revise, without extension, the Capital
Assessments and Stress Testing
information collection. The comment
period for this notice expired on April
23, 2012. The Federal Reserve received
six comment letters. The substantive
comments are summarized and
addressed below.
DATES: Comments must be submitted on
or before July 5, 2012.
ADDRESSES: You may submit comments,
identified by FR Y–14A/Q/M, by any of
the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email:
[email protected].
Include OMB number in the subject line
of the message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper form in Room MP–500 of the
Board’s Martin Building (20th and C
Streets NW.) between 9:00 a.m. and 5:00
p.m. on weekdays.
Additionally, commenters may send a
copy of their comments to the OMB

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Desk Officer—Shagufta Ahmed—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—Cynthia Ayouch—Division of
Research and Statistics, Board of
Governors of the Federal Reserve
System, Washington, DC 20551 (202)
452–3829. Telecommunications Device
for the Deaf (TDD) users may contact
(202) 263–4869, Board of Governors of
the Federal Reserve System,
Washington, DC 20551.
OMB Desk Officer—Shagufta
Ahmed—Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, Room 10235,
725 17th Street NW., Washington, DC
20503.
Final approval under OMB delegated
authority to revise, without extension,
the following report:
Report title: Capital Assessments and
Stress Testing information collection.
Agency form number: FR Y–14A/Q/
M.
OMB Control Number: 7100–0341.
Effective Date: June 30, 2012.
Frequency: Annually, quarterly, and
monthly.
Reporters: Large domestic bank
holding companies that participated in
the 2009 Supervisory Capital
Assessment Program (SCAP) and the
Comprehensive Capital Analysis and
Review 2011 (CCAR 2011) exercises
(BHCs).
Estimated annual reporting hours: FR
Y–14A: Summary, 15,580 hours; Macro
scenario, 589 hours; Counterparty credit
risk (CCR), 2,292 hours; Basel III/DoddFrank, 380 hours; and Regulatory capital
instruments, 380 hours. FR Y–14 Q:
Securities risk, 760 hours; Retail risk,
288,800 hours; Pre-provision net
revenue (PPNR), 47,500 hours;
Wholesale corporate loans, 3,840 hours;
Wholesale commercial real estate (CRE)
loans, 4,560 hours; Trading, private
equity, and other fair value assets
(Trading risk), 41,280 hours; Basel III/
Dodd-Frank, 1,140 hours; Regulatory
capital instruments, 2,280 hours; and
Operational risk, 2,128 hours. FR Y–
14M: Retail 1st lien mortgage, 72,240
hours; Retail home equity, 67,080 hours;
and Retail credit card, 56,760 hours.
Estimated average hours per response:
FR Y–14A: Summary, 820 hours; Macro
scenario, 31 hours; CCR, 382 hours;
Basel III/Dodd-Frank, 20 hours; and
Regulatory capital instruments, 20
hours. FR Y–14Q: Securities risk, 10

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hours; Retail risk, 3,800 hours; PPNR,
625 hours; Wholesale corporate loans,
60 hours; Wholesale CRE loans, 60
hours; Trading risk, 1,720 hours; Basel
III/Dodd-Frank, 20 hours; Regulatory
capital instruments, 40 hours; and
Operational risk, 28 hours. FR Y–14M:
Retail 1st lien mortgage, 430 hours;
Retail home equity, 430 hours; and
Retail credit card, 430 hours.
Number of respondents: FR Y–14A:
Summary, 19; Macro scenario, 19; CCR,
6; Basel III/Dodd-Frank, 19; and
Regulatory capital instruments, 19. FR
Y–14Q: Securities risk, 19; Retail risk,
19; PPNR, 19; Wholesale corporate
loans, 16; Wholesale CRE loans, 19;
Trading risk, 6; Basel III/Dodd-Frank,
19; Regulatory capital instruments, 19;
and Operational risk, 19. FR Y–14M:
Retail 1st lien mortgage, 14; Retail home
equity, 13; and Retail credit card, 11.
General description of report: The FR
Y–14 series of reports are authorized by
section 165 of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act of 2010 (Dodd-Frank Act), which
requires the Federal Reserve to ensure
that certain BHCs and nonbank financial
companies supervised by the Federal
Reserve are subject to enhanced riskbased and leverage standards in order to
mitigate risks to the financial stability of
the United States (12 U.S.C. 5365).
Additionally, section 5 of the BHC Act
authorizes the Board to issue regulations
and conduct information collections
with regard to the supervision of BHCs
(12 U.S.C. 1844).
As these data are collected as part of
the supervisory process, such
information may be afforded
confidential treatment under exemption
8 of the Freedom of Information Act (5
U.S.C. 552(b)(8)). In addition,
commercial and financial information
contained in these information
collections may be exempt disclosure
under exemption 4 (5 U.S.C. 552(b)(4)).
Such exemptions would be made on a
case-by-case basis.
Abstract: The FR Y–14A annually
collects large BHCs’ quantitative
projections of balance sheet, income,
losses, and capital across a range of
macroeconomic scenarios and
qualitative information on
methodologies used to develop internal
projections of capital across scenarios.
The FR Y–14Q collects granular data on
BHCs’ various asset classes and PPNR
for the reporting period, which are used
to support supervisory stress test
models and for continuous monitoring
efforts, on a quarterly basis. The new FR
Y–14M will collect one loan-level
collection for Domestic First Lien
Closed-End 1–4 Family Residential
Mortgage data, one loan-level collection

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for Domestic Home Equity Residential
Mortgage data, one account- and
portfolio-level collection for Domestic
Credit Card data, and one collection for
Address Matching data to supplement
the two mortgage collections.
Current actions: On February 22,
2012, the Federal Reserve published a
notice in the Federal Register (77 FR
10525) requesting public comment for
60 days to revise, without extension, the
FR Y–14 information collection. The
comment period expired on April 23,
2012. The Board received six comment
letters from four BHCs and four trade
associations.1 All substantive comments
are summarized and addressed below.
The FR Y–14A/Q/M revisions
proposed in the Federal Reserve’s
February 2012 Federal Register notice,
effective June 30, 2012, included (1)
implementing a new monthly schedule,
the FR Y–14M, which would collect
data previously collected on several
quarterly Retail Risk portfolio-level
worksheets (two new loan-level
collections and one new loan- and
portfolio-level collection), and
collecting detailed address matching
data for the two loan-level collections;
(2) revising the quarterly Wholesale Risk
schedule (corporate loan data
collection) by adding data items that
would allow the Federal Reserve to
derive an independent probability of
default, expanding the scope of loans
included in the collection by moving
loans from the CRE data collection to
the corporate loan data collection,
clarifying definitions of existing data
items, and requesting additional detail
about collateral securing a facility; (3)
revising the quarterly Wholesale Risk
schedule (CRE collection) by moving
loans to the corporate loan data
collection, adding a non-accrual data
item, and modifying the loan status data
item to include the number of days past
due; (4) implementing a new quarterly
Operational Risk schedule to gather data
that would support supervisory stress
test models to forecast the BHCs’
operational loss levels under various
macroeconomic conditions; and (5)
expanding the respondent panel (for the
FR Y–14 A/Q/M) to include large
banking organizations that meet an asset
threshold of $50 billion or more in total
consolidated assets (large BHCs), as
defined by the Capital Plan Rule (12
CFR 225.8).
Summary of Comments
The Federal Reserve received
comments from the industry by letter,
email, and orally through industry
1 Three trade associations submitted a joint
comment letter.

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outreach calls. Most of the comments
received requested clarification of the
instructions for the information to be
reported, or were technical in nature.
Response to these comments will be
addressed in the final FR Y–14 reporting
instructions. The following is a detailed
discussion of aspects of the proposed FR
Y–14 collection for which the Federal
Reserve received one or more
substantive comments and an
evaluation of, and response to, the
comments received.
A. General
In general, three trade associations
expressed support for the capital
adequacy and risk review process
proposed by the Federal Reserve and
appreciated the opportunity for public
comment on the proposed schedules.
However, the commenters noted their
concerns about the scope of the
information collection increasing since
the release of the Federal Reserve’s 2012
CCAR.
The trade associations commented
that the time schedule proposed for
submitting the data imposes burden on
the BHCs’ resources that are already
fully dedicated to submitting other
regulatory reports during the same time
period. The commenters requested that
the FR Y–14Q be submitted 60 days
after quarter end, as opposed to 40 days
(for the first, second, and third quarters)
and 45 days (for the fourth quarter) after
the quarter end. The Federal Reserve is
cognizant of the extra resources BHCs
must devote to prepare data
submissions for the first quarter data are
being implemented. However, the
Federal Reserve expects that subsequent
submissions would require fewer
resources given that BHCs would likely
automate much of the process. Further,
BHCs already aggregate the more
granular data reported in the FR Y–14Q
and the FR Y–14M schedules for their
Consolidated Financial Statements for
Bank Holding Companies (FR Y–9C;
OMB No. 7100–0128) reporting.
Therefore, the Federal Reserve will
allow BHCs to request approval to file
a late submission following major
revisions to data schedules.
One commenter suggested that the
Federal Reserve provide an acquiring
bank with one year to incorporate the
assets into its systems before requiring
data to be submitted for the FR Y–14.
The Federal Reserve has reached out to
several BHCs to inquire about the
challenges associated with providing
data on merged portfolios. Through
those inquiries, the Federal Reserve has
learned that the amount of time required
to integrate the risk information from a
new portfolio with the risk information

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from an existing portfolio varies greatly
depending on the similarities of the risk
information in the two portfolios. The
Federal Reserve will consider on a caseby-case basis requests from BHCs to file
a delayed submission for newly
acquired data (integrated with the
legacy portfolio) following an
acquisition.
Several commenters suggested that
BHCs with assets greater than $50
billion (covered companies) that have
not previously participated in CCAR
should receive extra time to make their
first submissions. While the Federal
Reserve believes that the proposed data
items reflected important elements of
any sound risk management system for
large BHCs, the Federal Reserve agrees
that BHCs not previously subject to
CCAR would benefit from additional
time to build their internal reporting
systems. As a result, the Federal Reserve
finalized the proposed schedules only
for the 19 BHCs that have previously
participated CCAR at this time. The
Federal Reserve may publish a separate
proposal to address data requirements
for the remaining covered companies in
the future.
B. FR Y–14M: Domestic First Lien
Closed-End 1–4 Family Residential
Mortgage (first lien), Domestic Home
Equity Residential Mortgage (Home
Equity), Domestic Credit Cards, and
Address Matching Schedules
The Federal Reserve proposed that
respondents would submit loan-level
monthly data schedules for material first
lien, home equity, and credit card
portfolios. Several commenters noted
that the monthly proposed schedules
contain a number of substantive data
items that are duplicative of data
collected by other agencies, namely the
Office of the Comptroller of the
Currency (OCC). The Federal Reserve
has reviewed the OCC’s data collections
and determined that the collections
differ in scope and substance. For
example, the universe of loans proposed
to be collected in the FR Y–14M
includes all loans owned or serviced by
the BHCs, while the OCC collects all
loans serviced by national banks.
Furthermore, there are definitional
differences between the data items
collected by the OCC and those
proposed by the Federal Reserve.
The agencies’ staff worked together to
ensure that data items included in the
final schedules (or data items
specifically suggested by the industry)
aligned to the extent possible with the
OCC data collections. In response to the
comments, the Federal Reserve will
broaden the scope of the monthly
Domestic Credit Card schedule to

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include all credit cards, not just those
reported on the FR Y–9C in Schedule
HC–C, Loans and Lease Financing
Receivables, data items 4.a, commercial
and industrial loans to U.S. addressees,
and 6.a, credit cards, as originally
proposed. In particular, this schedule
will now include credit card and charge
card loans included in data item 6.d,
other consumer loans. In addition, the
Federal Reserve is continuing to work
with the OCC and anticipates engaging
other agencies in discussions to
determine how best to collect the data
so as to satisfy each agency’s mandate
while imposing minimal burden on the
industry. If any future revisions are
required based on this more extensive
review, the agencies would publish
information collection notices in the
Federal Register to seek comment on
any future revisions to their collections.
One commenter requested clarity on
how to report ‘‘Income Source at
Origination’’ for purchased loans where
this information is not available. The
Federal Reserve will revise the four
choices of answers to read: Individual,
at origination; Household, at
origination; Individual, at acquisition;
and Household, at acquisition.
Several commenters noted that the
proposed first lien and home equity
schedules were not clear regarding
whether only loans owned by the
respondent or loans serviced by the
respondent would be reported. The
Federal Reserve will collect data on
both owned and serviced portfolios. In
making this final determination, the
Federal Reserve carefully weighed the
benefits of capturing servicing data
versus the burden imposed on the
respondents. During an industry
outreach call, one participant indicated
that the burden associated with
reporting the servicing portfolio loans
would be minimal because those data
are already aggregated. The collection of
the servicing portfolio loans will allow
the Federal Reserve to investigate other
potential risk factors, such as factors
associated from multiple loans being
collateralized by the same property.
One commenter suggested that the
data for BHC-owned loans serviced by
third parties be collected at the
portfolio-level with an extended due
date. The Federal Reserve will
implement the revisions as proposed, as
many of the data items in the schedules
will be used for ongoing internal risk
management. The Federal Reserve
expects that most respondents can
readily access the information for BHCowned loans. However, the Federal
Reserve recognizes that it may be more
difficult for the BHCs to initially submit
the data as requested for loans serviced

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by other entities. Over time the Federal
Reserve expects that BHCs will maintain
the data as requested by the Federal
Reserve in their internal systems. The
Federal Reserve will consider on a caseby-case basis request to file a delayed
submission for portfolio loans serviced
by others.
Two commenters noted that the
proposed first lien and home equity
schedules were unclear as to whether
real estate owned after foreclosure but
before the disposition of the property
would need to be reported. The
commenters suggested that many of the
data items in the first lien and home
equity schedules are related to loans,
and thus would not be available for real
estate owned. In light of the comments,
the Federal Reserve will require the
reporting of loans through the month
they were liquidated or transferred to
another servicer. The Federal Reserve
believes it is important to capture data
for the final month in order to
understand what happened to loans that
cease to be a part of the data collection
(to help determine, for example, if the
loan dropped out of the data collection
due to a prepayment, liquidation, or
servicer transfer).
Several commenters noted
inconsistencies between the definitions
for similar data items in the first lien
and home equity schedules. The
commenters requested standardized
data item definitions across the two
collections. The schedules were
reviewed and several definitions were
identified that could be standardized
(for example, Product Type, Income
Documentation, Property Type,
Refreshed Property Valuation Method,
Foreclosure Status, and Occupancy);
therefore, the Federal Reserve will
implement these standardized
definitions.
Several commenters noted that some
data items in the first lien and home
equity schedules would be difficult to
provide. In some cases, the commenters
suggested that the data items could be
provided at a portfolio-level but not at
a loan-level, while in other cases the
commenters noted that some data items
are not maintained for certain loan
types. The Federal Reserve carefully
considered these comments, and
reviewed the reporting instructions to
identify data items that would be
difficult to report at the loan-level.
Based on the review, the Federal
Reserve will (1) modify these loan-level
collections to include the reporting of
portfolio-level data for certain items
such as purchase impairments which
typically are unavailable at the loanlevel and (2) require that only certain
data items be reported for loans serviced

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for others or loans obtained through
mergers or acquisitions.
Several commenters suggested adding
a number of data items to the first lien
and home equity schedules. The Federal
Reserve reviewed the data items
proposed by the commenters, and
carefully weighed the value of having
the items versus the additional burden
on respondents. While, in most cases,
the Federal Reserve does not have
sufficient evidence to justify the
inclusion of the data items, there were
a few instances in which it was
determined that the value of having the
data items outweighed the burden
imposed on respondents.
One commenter suggested that the
address matching schedule be appended
to the first lien and home equity
schedules to reduce the number of
schedules. The Federal Reserve does not
believe incorporating this suggestion
would reduce the overall burden on
respondents and will maintain the
structure of schedules as proposed.
C. FR Y–14Q Wholesale Schedule
(Corporate Loan and CRE Collections)
One commenter suggested that
respondents should not be required to
provide a guarantor’s tax ID number.
The commenter noted that it is not
relevant for the information collection,
and expressed concerns about the
sensitivity of the information. The
Federal Reserve notes that while all
information reported in the FR Y–14 is
confidential supervisory information,
extra care should be taken to protect the
privacy of individuals; therefore the
Federal Reserve will implement the
instructions as proposed, which
indicate that if the guarantor is a natural
person, respondents should not report
the tax ID number.
One commenter noted that the
Federal Reserve should not model
probability of default (PD) on corporate
loans. Specifically, the commenter
stated that internal bank ratings produce
a better estimate of PD than would be
done based on the reported data. The
commenter also noted that the Federal
Reserve should use reporter generated
PDs when evaluating capital
submissions. The Federal Reserve notes
that the process of mapping the internal
ratings to a common scale introduces a
potential for inconsistency due to
possible differences in the way BHCs’
assign internal ratings. Collecting the
data necessary to calculate the PD on
corporate loans would enhance the
comparability of estimated PDs across
BHCs and promote greater consistency
in supervisory stress test estimates.
Therefore, the Federal Reserve will
implement the revision as proposed.

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Several commenters suggested that a
number of the data items requested in
the corporate loan collection may not be
readily available, and some of the data
items may not be available for certain
types of loans. The Federal Reserve
spoke with several BHCs to determine
whether the proposed data items would
be available in the BHCs’ credit risk
systems. These discussions revealed
that all of these BHCs use financial
spreading software and while the
systems varied, they capture all or most
of the proposed data items. Though it is
possible that some BHCs may not use
financial spreading software, which
would result in the increased burden,
the Federal Reserve believes the benefit
of the data outweighs the increased
burden and recommends implementing
the revision as proposed. The Federal
Reserve also recognizes that for certain
categories of borrowers the financial
information may not be readily
available. Therefore, the Federal Reserve
will revise the instructions to exclude
certain populations of loans on which
the Obligor Financial Information may
not be available.
One commenter noted that, in the
corporate loan collection, the Federal
Reserve should define obligor for
purposes of the Obligor Financial
Information section to be the ‘‘risk unit
underwritten by the BHC for the
purpose of approving the loan.’’ The
commenter further noted that, in cases
in which there are multiple obligors, it
is possible that a different obligor in the
credit agreement could drive default
risk. The Federal Reserve agrees with
the comment. These situations may be
rare, but could lead to an overestimation
of credit risk. The current structure of
the collection is based on the legal
borrowing entity. The Federal Reserve
believes that, for consistency, it is
important to retain the link between the
legal borrowing entity and the other
data items. However, the Federal
Reserve will allow a respondent to
submit the financial information in the
Obligor Financial Information section
for the entity that represents the primary
source of repayment (i.e. not a
guarantor). The Federal Reserve will
add three identification data items to
capture information about the entity
underwritten by the respondent in cases
in which that entity is different from the
obligor.
D. FR Y–14Q Operational Risk Schedule
A trade association provided a general
comment expressing support for
collecting quarterly data on operational
risk, but had concerns about
implementing the proposed new
schedule on operational risk.

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Several commenters requested that
the Federal Reserve not collect data on
legal reserves for pending and probable
litigation claims on the proposed
Operational Risk schedule. The
commenters had concerns that the
Federal Reserve may not be able to
guarantee the confidentiality of the
information in all cases; the data could
become discoverable in third-party
litigation; and should the information
make its way into the public domain, it
could significantly jeopardize the BHC’s
position in litigation. Based on the
comments received and subsequent
discussions with commenters, the
Federal Reserve’s preliminary view is
that these concerns are justified.
Accordingly, the Federal Reserve will
not require BHCs to submit these data
as part of the June collection. However,
the Federal Reserve will implement the
remainder of Operational Risk schedule
as proposed.
Furthermore, Federal Reserve will reopen the comment period on legal
reserves for an additional 30 days to
facilitate feedback on methods that
would enable the Federal Reserve to
collect legal reserves data in a fashion
that would protect the confidentiality of
the information. See the Supplementary
Information section below for additional
information.
One commenter suggested requiring
the submission of data on loss events of
$20,000 or more. Supervisory stress
testing of operational risk is focused on
estimating expected loss under certain
macroeconomic scenarios. As such, the
reporting of operational losses at and
above the BHC-established collection
threshold, versus a fixed threshold, is
necessary as the full distribution of
captured losses is important to expected
loss estimation. The Federal Reserve
will implement the revision as
proposed.
One commenter suggested providing
flexibility with how each loss event is
assigned to a business line(s), event
type(s), or accounting date(s). The
Federal Reserve agrees with this
comment and will revise the reporting
instructions. The instructions will no
longer require single loss events that
affect multiple business lines to be
‘‘aggregated’’ into one business line (the
business line which incurred the largest
loss amount). Instead, the revised
instructions will enable institutions to
report multiple records or transactions
for the same loss event and to
respectively assign those records or
transactions to the appropriate business
line.
One commenter also noted that
providing a single ‘‘Accounting Date’’
per loss event would be confusing,

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because BHCs do not typically have a
single accounting date for every loss
event. As described above, the reporting
instructions have been revised to
require the quarterly submission of the
BHCs’ complete history of operational
losses. This will enable BHCs to submit
multiple transactions or records for the
same loss event, as long as multiple
transactions or records contain the same
reference number for the respective
event.
Several commenters requested that
the data collection be revised to allow
BHCs’ to submit their entire operational
loss databases, rather than only
submitting new and amended events
every quarter. The commenters stated
that separating the new and amended
loss events would be burdensome. The
original proposal was written in the
spirit of reducing burden on the
respondents and therefore, based on the
comments, the Federal Reserve will
revise the instructions to require
submission of the entire database every
quarter.
One commenter suggested allowing
BHCs additional time to submit their
data after the quarter end. In order to
facilitate timely risk monitoring and
entry to supervisory models, operational
loss data must be submitted within time
schedule prescribed; therefore, the
Federal Reserve will implement the
time schedule requirements as
proposed.
One commenter suggested that certain
BHCs be exempt from using the
definitions of Level 1 and Level 2
Business Lines as described in the
instructions. The Federal Reserve
believes that having consistent
definitions of business lines is critical
for the comparability of data across
BHCs. BHCs should map their internal
business lines as defined in the
instructions. The Federal Reserve will
implement the requirements as
proposed.
SUPPLEMENTARY INFORMATION:

ebenthall on DSK5SPTVN1PROD with NOTICES

Request for Comment on Information
Collection Proposal
Abstract: As mentioned above in the
Current Actions section, the Federal
Reserve will not require BHCs to submit
legal reserves data as part of the June
collection. Instead, the Federal Reserve
is re-opening the public comment
period for 30 days and requesting
comments on collecting these data in
one or more of the following ways:
1. Collect the data on an aggregate
level rather than on a granular loss
event-level (for example, the number of
loss events and the average estimated
reserve amount for these events);

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2. Collect data on legal reserves in an
anonymous fashion such that neither
the identity of the BHC or the loss event
would be known; and
3. Collect the data in a way such that
BHCs would submit a combination of
actual and randomized data,2 so as not
to reveal how any particular data item
would or could tie back to an actual loss
event for a particular BHC.
In addition, the Federal Reserve also
is requesting comment on other
methods that would allow the Federal
Reserve to measure, understand, and
analyze these types of legal risk without
requiring a BHC to submit data on
specific legal reserves.
The collection of these data or any
new reporting requirements related to
these data would take effect no sooner
than the September 30, 2012, report
date.
Additional comments are also invited
on:
a. Whether the proposed collection of
information is necessary for the proper
performance of the agencies’ functions;
including whether the information has
practical utility;
b. The accuracy of the agencies’
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; and
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.
e. Estimates of capital or start up costs
and costs of operation, maintenance,
and purchase of services to provide
information.
All comments will become a matter of
public record. Written comments should
address the accuracy of the burden
estimates and ways to minimize burden
including the use of automated
collection techniques or the use of other
forms of information technology as well
as other relevant aspects of the
information collection request.
Board of Governors of the Federal Reserve
System.
Dated: May 29, 2012.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012–13397 Filed 6–1–12; 8:45 am]
BILLING CODE 6210–01–P
2 Randomizing survey responses have been a
common technique when asking sensitive questions
since the mid-1960’s. The Federal Reserve will
provide more detail on such techniques upon
request and anticipates that industry outreach calls
would be conducted if this reporting option is
selected.

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DEPARTMENT OF HEALTH AND
HUMAN SERVICES
[Document Identifier: OS–0990–NEW; 30day notice]

Agency Information Collection
Request. 30-Day Public Comment
Request
Office of the Secretary, HHS.
In compliance with the requirement
of section 3506(c)(2)(A) of the
Paperwork Reduction Act of 1995, the
Office of the Secretary (OS), Department
of Health and Human Services, is
publishing the following summary of a
proposed collection for public
comment. Interested persons are invited
to send comments regarding this burden
estimate or any other aspect of this
collection of information, including any
of the following subjects: (1) The
necessity and utility of the proposed
information collection for the proper
performance of the agency’s functions;
(2) the accuracy of the estimated
burden; (3) ways to enhance the quality,
utility, and clarity of the information to
be collected; and (4) the use of
automated collection techniques or
other forms of information technology to
minimize the information collection
burden.
To obtain copies of the supporting
statement and any related forms for the
proposed paperwork collections
referenced above, email your request,
including your address, phone number,
OMB number, and OS document
identifier, to
[email protected], or call
the Reports Clearance Office on (202)
690–5683. Send written comments and
recommendations for the proposed
information collections within 30 days
of this notice directly to the OS OMB
Desk Officer; faxed to OMB at 202–395–
5806.
Proposed Project: Survey of Primary
Care Physicians on Oral Health for the
Office on Women’s Health (OWH),—
OMB No. 0990–NEW, Department of
Health and Human Services (HHS).
Abstract: The Office on Women’s
Health (OWH) at the Department of
Health and Human Services is
requesting OMB approval to conduct a
new, one time survey of primary care
physicians regarding oral health. This
survey will provide the agency with
information on oral health knowledge,
attitudes, and professional experience
among practicing physicians throughout
the U.S. The study will explore
physicians’ level of understanding of
oral disease and what constitutes health
for the oral cavity, oral health training
and support needs, current practices
and barriers to further involvement.

AGENCY:

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