Final Federal Register Notice

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Abstract: The Federal Reserve uses
this voluntary survey to obtain
household-based information
specifically tailored to the Federal
Reserve’s policy, regulatory, and
operational responsibilities. Currently,
the University of Michigan’s Survey
Research Center (SRC) includes survey
questions on behalf of the Federal
Reserve in an addendum to their regular
monthly Survey of Consumer Attitudes
and Expectations. The SRC conducts the
survey by telephone with a sample of
500 households and asks questions of
special interest to the Federal Reserve
intermittently, as needed. The frequency
and content of the questions depend on
changing economic, regulatory, and
legislative developments. The Federal
Reserve primarily uses the survey to
study consumer financial decisions,
attitudes, and payment behavior.
3. Report title: Recordkeeping
Requirements Associated with the Real
Estate Lending Standards Regulation for
State Member Banks.
Agency form number: Reg H–5.
OMB control number: 7100–0261.
Frequency: Aggregate report,
quarterly; policy statement, annually.
Reporters: State member banks.
Estimated annual reporting hours:
17,000 hours.
Estimated average hours per response:
Aggregate report: 5 hours; Policy
statement: 20 hours.
Number of respondents: 850.
General description of report: This
information collection is mandatory
pursuant to section 304 of the Federal
Deposit Insurance Corporation
Improvement Act of 1991 (FDICIA) (12
U.S.C. 1828(o)) which authorizes the
Federal Reserve to require the
recordkeeping requirements associated
with the Board’s Regulation H (12 CFR
208.51). Since the information is not
collected by the Federal Reserve, no
issue of confidentiality under the
Freedom of Information Act (FOIA)
arises. However, information gathered
by the Federal Reserve during
examinations of state member banks
would be deemed exempt from
disclosure under exemption 8 of FOIA.
5 U.S.C. 552(b)(8). In addition,
exemptions 4 and 6 of FOIA, (5 U.S.C.
552(b)(4) and (b)(6)) also may apply to
certain data (specifically, individual
loans identified as in excess of
supervisory loan-to-value limits)
collected in response to these
requirements if gathered by the Federal
Reserve, depending on the particular
circumstances. These additional
exemptions relate to confidential
commercial and financial information,
and personal information, respectively.
Applicability of these exemptions

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would have to be determined on a caseby-case basis.
Abstract: State member banks must
adopt and maintain a written real estate
lending policy. In addition, banks must
identify their loans in excess of the
supervisory loan-to-value limits and
report (at least quarterly) the aggregate
amount of the loans to the bank’s board
of directors.
Current Actions: On July 24, 2014, the
Federal Reserve published a notice in
the Federal Register (79 FR 43045)
requesting public comment for 60 days
on the extension, without revision, of
the FR 29a, b, FR 3016, and Reg H–5.
The comment period for this notice
expired on September 22, 2014. The
Federal Reserve did not receive any
comments.
Board of Governors of the Federal Reserve
System, September 26, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014–23367 Filed 9–30–14; 8:45 am]
BILLING CODE 6210–01–P

FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB With Request
for Comment
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 Office of Management and Budget
(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.
On July 15, 2014, the Federal Reserve
published a notice in the Federal
Register (79 FR 41276) requesting
public comment for 60 days to extend,
with revision, the Capital Assessments
and Stress Testing information
collection. The comment period for this
AGENCY:

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notice expired on September 15, 2014.
The Federal Reserve received 8
comment letters. The substantive
comments are summarized and
addressed below. Comments requesting
clarification to item definitions will be
addressed in the final instructions.
DATES: Comments are to be submitted
on or before October 31, 2014.
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
on the http://www.federalreserve.gov/
apps/foia/proposedregs.aspx.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include the OMB
control number in the subject line of the
message.
• Fax: 202–452–3819 or 202–452–
3102.
• Mail: Robert deV. Frierson,
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 http://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, except
as necessary 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 in Room MP–500 of the Board’s
Martin Building (20th and C Streets
NW.), between 9 a.m. and 5 p.m. on
weekdays.
Additionally, commenters may send a
copy of their comments to the 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 or by fax to (202) 395–6974.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Acting
Clearance Officer—John Schmidt—
Office of the Chief Data Officer, 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—S Office of Information and
Regulatory Affairs, Office of
Management and Budget, New
Executive Office Building, Room 10235,

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Federal Register / Vol. 79, No. 190 / Wednesday, October 1, 2014 / Notices
725 17th Street NW.,Washington, DC
20503.
Final approval under OMB delegated
authority of the extension for three
years, with revision of 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 Dates: September 30, 2014
and December 31, 2014.
Frequency: Annually, semi-annually,
quarterly and monthly.
Reporters: Any top-tier U.S. bank
holding company (BHC) that has $50
billion or more in total consolidated
assets, as determined based on: (i) The
average of the BHC’s total consolidated
assets in the four most recent quarters
as reported quarterly on the BHC’s
Consolidated Financial Statements for
Bank Holding Companies (FR Y–9C)
(OMB No. 7100–0128); or (ii) the
average of the BHC’s total consolidated
assets in the most recent consecutive
quarters as reported quarterly on the
BHC’s FR Y–9Cs, if the BHC has not
filed an FR Y–9C for each of the most
recent four quarters. Reporting is
required as of the first day of the quarter
immediately following the quarter in
which it meets this asset threshold,
unless otherwise directed by the Federal
Reserve.
Estimated Annual Reporting Hours:
FR Y–14A: Summary, 67,848 hours;
Macro scenario, 2,046 hours;
Operational Risk, 456 hours; Regulatory
capital transitions, 759; and Regulatory
capital instruments, 660 hours. FR Y–
14Q: Securities risk, 1,584 hours; Retail
risk, 2,112 hours; Pre-provision net
revenue (PPNR), 93,852 hours;
Wholesale corporate loans, 8,556 hours;
Wholesale commercial real estate (CRE)
loans, 8,280 hours; Trading risk, 69,336
hours; Regulatory capital transitions,
3,036 hours; Regulatory capital
instruments, 5,280 hours; Operational
risk, 6,600 hours; Mortgage Servicing
Rights (MSR) Valuation, 1,152 hours;
Supplemental, 528 hours; and Retail
Fair Value Option/Held for Sale (Retail
FVO/HFS), 1,408 hours; Counterparty
credit risk (CCR), 16,632 hours; and
Balances, 2,112 hours; FR Y–14M: Retail
1st lien mortgage, 171,360 hours; Retail
home equity, 165,240 hours; and Retail
credit card, 110,160 hours. FR Y–14
Implementation, 21,600 hours; and OnGoing Automation for existing
respondents, 14,400 hours.
Estimated Average Hours Per
Response: FR Y–14A: Summary, 1,028
hours; Macro scenario, 31 hours;
Operational Risk, 12 hours; Regulatory
capital transitions, 23; and Regulatory

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capital instruments, 20 hours. FR Y–
14Q: Securities risk, 12 hours; Retail
risk, 16 hours; PPNR, 711 hours;
Wholesale corporate loans, 69 hours;
Wholesale CRE loans, 69 hours; Trading
risk, 1,926 hours; Regulatory capital
transitions, 23 hours; Regulatory capital
instruments, 40 hours; Operational risk,
34 hours; MSR Valuation, 24 hours;
Supplemental, 4 hours; and Retail FVO/
HFS, 16 hours; CCR, 441 hours; and
Balances, 16 hours; FR Y–14M: Retail
1st lien mortgage, 510 hours; Retail
home equity, 510 hours; and Retail
credit card, 510 hours. FR Y–14
Implementation, 7,200 hours; and OnGoing Automation for existing
respondents, 480 hours.
Number of Respondents: 33.
General Description of Report: The
FRY–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 bank holding companies
(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, they are subject
to confidential treatment under
exemption 8 of the Freedom of
Information Act (FOIA) (5 U.S.C.
552(b)(8)). In addition, commercial and
financial information contained in these
information collections may be exempt
from disclosure under exemption 4 of
FOIA (5 U.S.C. 552(b)(4)). Such
exemptions would be made on a caseby-case basis.
Abstract: The data collected through
the FR Y–14A/Q/M schedules provide
the Federal Reserve with the additional
information and perspective needed to
help ensure that large BHCs have strong,
firm-wide risk measurement and
management processes supporting their
internal assessments of capital adequacy
and that their capital resources are
sufficient given their business focus,
activities, and resulting risk exposures.
The annual Comprehensive Capital
Analysis and Review (CCAR) exercise is
also complemented by other Federal
Reserve supervisory efforts aimed at
enhancing the continued viability of
large BHCs, including continuous
monitoring of BHCs’ planning and
management of liquidity and funding
resources and regular assessments of

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credit, market and operational risks, and
associated risk management practices.
Information gathered in this data
collection is also used in the
supervision and regulation of these
financial institutions. In order to fully
evaluate the data submissions, the
Federal Reserve may conduct follow up
discussions with or request responses to
follow up questions from respondents,
as needed.
The semi-annual FR Y–14A 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.1
The quarterly FR Y–14Q collects
granular data on BHCs’ various asset
classes and PPNR for the reporting
period. The monthly FR Y–14M
comprises three loan- and portfoliolevel collections, and one detailed
address matching collection to
supplement two of the portfolio and
loan-level collections. Both the FR Y–
14Q and the FR Y–14M are used to
support supervisory stress test models
and for continuous monitoring efforts.
Current Actions: On July 15, 2014 the
Federal Reserve published a notice in
the Federal Register (79 FR 41276)
requesting public comment for 60 days
on the extension, with revision, of the
FR Y–14. The Federal Reserve proposed
to revise several schedules of the FR Y–
14A/Q/M reports effective September
30, 2014 and December 31, 2014, and to
expand the reporting panel to include
BHCs that currently rely on Supervision
and Regulation Letter SR 01–01. The
comment period for this notice expired
on September 15, 2014. All substantive
comments are summarized and
addressed below.
Summary of Comments
The Federal Reserve received eight
comment letters addressing the
proposed changes to this information
collection, including one from a BHC,
one from an individual, and six from
trade associations. Many of the
comments received requested
clarification of the instructions for the
information to be reported, or were
technical in nature. These comments
will be addressed in the final FR Y–
14A/Q/M reporting forms and
instructions. Other comments requested
clarification, but did not include
sufficient information. The Federal
Reserve will discuss these with the
1 BHCs that must re-submit their capital plan
generally also must provide a revised FR Y–14A in
connection with their resubmission.

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appropriate commenters to determine
the clarifications that should be made.
The Federal Reserve also received
several comments not directly related to
the proposed revisions to the FR Y–14
information collection regarding (1)
communications between respondents
and the Federal Reserve, (2) the
Frequently Asked Questions process, (3)
technical instructions and data
submission processes, and (4) edit
checks. The Federal Reserve appreciates
the suggestions provided through these
comment letters as well as feedback
provided in meetings with both
individual respondents and industry
groups and uses these suggestions in its
effort to continually improve its internal
processes and practices. The following
is a detailed discussion of aspects of the
proposed FR Y–14 collection for which
the Federal Reserve received substantive
comments and an evaluation of, and
responses to the comments received.
General Comments
In general, commenters expressed
concerns about the timing of
implementing new items, the overall
expansion of the information collection,
alignment with the Consolidated
Financial Statements for Bank Holding
Companies (FR Y–9C) (OMB No. 7100–
0128), the expansion of the reporting
panel, and the details of proposed items
on the Operational Risk and
Counterparty Schedules of the FR Y–
14Q. Specifically, several commenters
stated that given the scale and
granularity of certain proposed changes,
the associated effective date of
September 30, 2014, does not provide a
sufficient amount of time to build or
update data infrastructure or, most
importantly, to ensure compliance with
internal process controls and
governance. One of these commenters
suggested that all changes associated
with this proposal be effective
December 31, 2014, while the other
commenters suggested that the Federal
Reserve adopt a policy of providing a
six month minimum between the
proposal’s finalization and the effective
date for the FR Y–14A/Q/M reporting
forms. The Federal Reserve recognizes
the challenges associated with
implementing changes in a timely
manner, especially when the changes
are finalized close to the effective date,
and is considering longer-term options
to improve such timing in the future.
For the current proposal, the Federal
Reserve weighed the benefits for each of
the proposed changes with a September
30, 2014, effective date against the
estimated burden to the industry. As a
result, the Federal Reserve is delaying
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until December 31, 2014, as detailed in
the schedule-specific sections below.
Commenters provided views on
proposed changes relating to the
collection of regulatory capital
components under the revised capital
framework. As discussed in the FR Y–
14A/Q/M proposal, these changes were
intended to better align the regulatory
capital components that appear on the
FR Y–9C proposal.2 Following the IFR,
the Federal Reserve sought comment on
changes to the FR Y–9C, which
included two additional line items that
were not included in the proposed FR
Y–14 collection. One commenter
suggested that the Federal Reserve align
the FR Y–14A/Q schedule with
schedule HC–R, while another
requested that the aligning changes not
be made to the FR Y–14A/Q until the FR
Y–9C proposal is finalized and that in
the future changes should be proposed
to both report forms concurrently. The
Federal Reserve is adjusting the FR Y–
14A/Q/M schedules according to the
current FR Y–9C proposal. These
adjustments are necessary to align the
subcomponents of standardized riskweighted assets with total standardized
risk-weighted assets, and will likely
alleviate confusion about where
regulatory capital components should
be reported. The Federal Reserve agrees
that concurrent timing of proposals for
the two reporting forms would be ideal
and will explore options to improve the
timing for future proposals. The Federal
Reserve notes, however, that the timing
of changes to the FR Y–9C often are tied
to the changes to the Consolidated
Reports of Condition and Income (FFIEC
031, FFIEC 041) (OMB No. 7100–0036).
In regard to the expansion of the
reporting panel to include BHCs relying
on Supervision and Regulation Letter
SR 01–01 (‘‘SR 01–01 BHCs’’),3
commenters stated that an effective date
of September 30, 2014, does not provide
SR 01–01 BHCs sufficient time to build
and implement the significant data
reporting infrastructure necessary for
the FR Y–14A/Q/M report forms,
especially given that initial notification
was given in the July 15, 2014, Federal
Register publication. They also
recommended that the addition of SR
01–01 BHCs to the FR Y–14A/Q/M
reporting panel be delayed until these
BHCs are subject to the capital plan and
2 The proposal indicated that ‘‘the Federal
Reserve may modify the proposed revisions to the
FR Y–14 report prior to finalization of this proposal
as appropriate and consistent to align with any
additional changes being considered to the FR Y–
9C report.’’
3 Application of the Board’s Capital Adequacy
Guidelines to Bank Holding Companies Owned by
Foreign Banking Organizations.

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stress test rules,4 because the report
forms would effectively require early
compliance with certain provisions of
the capital plan and stress test rules. In
response to commenters’ concerns, the
Federal Reserve will delay the inclusion
of SR 01–01 BHCs in the FR Y–14A/Q/
M reporting panel until December 31,
2014. As a result of this change, SR 01–
01 BHCs have an additional three
months to develop the data reporting
infrastructure. In addition, SR 01–01
BHCs are not required to submit the FR
Y–14A, including the Summary and
Scenario schedules, for the September
30, 2014, as of date, which should
address concerns that the report forms
would effectively require early
compliance with the capital plan and
stress test rules. The Federal Reserve
understands and appreciates the effort
required to establish the systems and
processes for effective reporting as well
as the associated issues and
complexities, having worked through
these issues with and managed data
submissions of numerous BHCs over the
last few years. Including SR 01–01 BHCs
in the reporting panel will help ensure
a high standard of timeliness and
accuracy of data that are used for the
Comprehensive Capital Analysis and
Review (CCAR) and Dodd-Frank Act
Stress Test (DFAST) exercises when SR
01–01 BHCs become subject to the
capital plan and stress test rules.
Numerous commenters objected to the
proposed data items on the FR Y–14Q
Operational Risk schedule regarding
legal reserves for closed/settled
litigation with settlements above $250
thousand. Commenters expressed the
view that this information could violate
attorney-client privilege and that such
information may be inadvertently
shared with competitors or intentionally
shared with other government
organizations with whom the reporting
firm may be involved in litigation,
giving the other party insight into their
reserving practices. The Federal Reserve
takes the confidentiality of respondent
data very seriously and is cognizant of
respondents’ views of confidentiality
regarding their legal reserving practices.
In order to provide sufficient time to
facilitate feedback and carefully
consider methods that would enable the
Federal Reserve to collect legal reserves
data in a fashion that would protect the
confidentiality of the information, the
Federal Reserve will remove the
proposed collection of legal reserve
information and seek notice and
comment on a proposal on this subject
in the future.
4 See 12 CFR 225.8(c)(2)(i), 12 CFR 252.43(b)(2),
and 12 CFR 122.53(b)(2).

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Finally, commenters expressed
concern over the level of detail in the
proposed changes to the Counterparty
schedule, particularly the portions that
subset by both agreement and asset
category. The Federal Reserve views
collecting more detailed counterparty
data critical to assessing the
reasonableness of the BHC’s modelbased estimates used as key inputs to
supervisory stress test as well as
ensuring the comparability of results
across BHCs. However, the Federal
Reserve also recognizes the potential
operational difficulty in providing
granular counterparty information by
asset category for each netting
agreement. Therefore, the Federal
Reserve will provide an additional 30day public comment period in the final
Federal Register notice for the
agreement-level/asset category
counterparty information. This
extended comment period will facilitate
feedback on ways to collect
counterparty data to meet the needs of
the Federal Reserve while incurring the
least amount of burden to the industry.
See the Supplementary Information
section below for additional
information.
FR Y–14A
The majority of comments received
regarding the FR Y–14A requested
clarification of item definitions and will
be addressed in the final instructions.
However, as noted in the initial Federal
Register notice, the Federal Reserve
stated that many of the items related to
capital and risk-weighted assets would
be modified to align with schedule HC–
R of the FR Y–9C. Accordingly, several
of these items will be modified, added
and removed to be consistent with the
most recent FR Y–9C proposal.

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Schedule A—Summary
A.1.c.2—Standardized RWA. In order
to align with the proposed schedule
HC–R of the FR Y–9C, the Federal
Reserve will add the following two line
items: All other on-balance sheet
securitization exposures; and Offbalance sheet securitization exposures.
Schedule D—Regulatory Capital
Transitions
In order to align with the proposed
schedule HC–R of the FR Y–9C, the
Federal Reserve will add the following
two line items: All other on-balance
sheet securitization exposures; and Offbalance sheet securitization exposures.
Additionally, commenters requested
that the Federal Reserve revise the
proposed instructions regarding the
calculation of the supplementary
leverage ratio (SLR). The proposed

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instructions were based on the proposal
issued by Board, Federal Deposit
Insurance Corporation, and Office of the
Comptroller of the Currency on the SLR.
The agencies finalized these revisions in
September, 2014.5 As compared to the
proposal, the final rule requires that offbalance sheet items be calculated on a
monthly, rather than a daily, basis. The
Federal Reserve will make these
changes, as they will reduce burden on
institutions and will align the reporting
of the SLR with the final SLR rule.
FR Y–14Q
The majority of comments received
regarding the FR Y–14Q requested
clarification of item definitions, and the
Federal Reserve will address these
comments in the final instructions.
Some comments, however, resulted in
modification to data items and are
addressed below.
Schedule A—Retail (A.1 to A.10)
One commenter requested that the
Federal Reserve clarify whether or not
historical data must be submitted for
items related to charge-offs and
recoveries whose definitions were
proposed to be redefined to be
consistent with the FR Y–9C. The
Federal Reserve notes that historical
data are not required to be submitted for
such items at this time.
Schedule A.2—U.S. Auto
One commenter expressed concern
about being able to provide the loan-tovalue (LTV) segmentation variable based
on the wholesale instead of retail value
of the vehicle for the September 30,
2014, as of period, because they stated
this proposed modification would
require a major change to current
industry practices. The Federal Reserve
notes that a formal survey of
respondents was conducted in 2013
regarding this issue and determined that
almost all respondents at that time were
internally computing LTV based on the
wholesale value of the vehicle.
Therefore, the Federal Reserve will
finalize the modification as proposed,
however, respondents are encouraged to
discuss any data issues with their
Federal Reserve Bank Statistics contacts.
Schedule B—Securities
One commenter identified a possible
duplicative request for information
between items 3 and 14 on the proposed
schedule B.3 related to the effective
portion of hedges included in amortized
5 ‘‘Regulatory Capital Rules: Regulatory Capital,
Revisions to the Supplementary Leverage Ratio’’
(September 3, 2014), available at: http://
www.federalreserve.gov/newsevents/press/bcreg/
20140903b.htm. 12 CFR 217. 10(c)(4).

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cost basis. The Federal Reserve agrees
that the request could be seen as
duplicative and will modify item 14
accordingly. Another commenter stated
that proposed items 14 and 15 of the
same schedule are irrelevant and
difficult to provide given that they
request information regarding gains and
losses of hedging instruments since
inception of the hedging positions. The
Federal Reserve will modify both items
to include information regarding gains
and losses during the reporting quarter.
Finally, a commenter recommended that
the Federal Reserve add a field that
collects estimates of bond ratings for
instruments with no CUSIP number
based on issuer-specific information,
similar to what was collected from
certain firms during CCAR 2014. The
Federal Reserve will consider adding
such information to a future proposal.
Schedule D—Regulatory Capital
Transitions
Similar to the FR Y–14A Regulatory
Capital Transitions schedule, two line
items will be added in order to align
with the proposed schedule HC–R of the
FR Y–9C: All other on-balance sheet
securitization exposures; and Offbalance sheet securitization exposures.
Additionally, line item definitions will
be revised in accordance with the
Supplementary Leverage Ratio final
rule, as described above.
Schedule F—Trading
The Federal Reserve will revise the
instruction that provides that BHCs may
report these data as-of the most recent
date that corresponds to their weekly
internal risk reporting cycle as long as
it falls before the as-of-date.
Specifically, to provide additional
flexibility, these instructions will be
modified to state that the Federal
Reserve may provide for a different
weekly period over which data may be
reported. For instance, the Federal
Reserve may exercise this authority
where the weekly period would include
a quarter-end, a holiday, or a financial
emergency that could distort the
reported results.
Schedule H—Wholesale
A commenter noted that providing
only ‘‘Yes’’ and ‘‘No’’ options for the
Prepayment Penalty Flag item might not
be sufficient, because the terms of
prepayment penalties can vary
significantly between firms and may
include provisions that substitute for
prepayment penalties. Another
commenter requested clarification on
whether this item should include loans
which at any point included a
prepayment penalty. The Federal

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Federal Register / Vol. 79, No. 190 / Wednesday, October 1, 2014 / Notices

Reserve agrees that other forms of
prepayment penalties should be
captured and will expand the options to
the Prepayment Penalty Flag item to
include an option to identify loans that
at some point had some form of
prepayment penalty. The same
commenter also recommended adding
an option to the Guarantor Flag item to
capture instances of partial government
guarantee. The Federal Reserve notes
that option two of that item captures
instances of partial government
guarantee. Additionally, in response to
comments about the timing of the
changes, the Federal Reserve will move
the effective date from September 30,
2014, to December 31, 2014, for the
following changes: Schedule H.1—
Corporate Loan (1) adding an item that
captures the credit facility currency, and
(2) adding an item to collect the
industry code for the entity that is the
primary source of the repayment for the
credit facility; Schedule H.2—
Commercial Real Estate (1) modifying
item 20 (Amortization) to capture nonstandard amortization schedule by
allowing banks to report ‘-1’, (2) adding
an option to current item 21 (Recourse)
that indicates partial recourse and
modifying option 1 to indicate full
recourse, (3) modifying current item 25
(Loan Purpose) to include an option for
Mini-perm, (4) modify current item 39
(Property Size) to only capture credit
facilities secured by one property of one
type, (5) adding an item to collect the
date on which current occupancy was
determined, (6) adding an item that
collects the current value basis, and (7)
adding an item that captures the credit
facility currency.

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Schedule K—Supplemental
A commenter noted that the
information currently collected in
columns F (Auto Leases) and G (NonAuto Leases) is included in the
proposed FR Y–14Q Balances Schedule
and recommended removing those
columns and moving the remaining
information from Schedule K to the
proposed FR Y–14Q Balances Schedule.
The Federal Reserve agrees that the
information in columns F and G of
Schedule K is contained in the FR Y–
14Q Balances Schedule and will remove
those columns. However, the Federal
Reserve believes moving the remaining
information from Schedule K to the FR
Y–14Q Balances Schedule would
unnecessarily change the format of the
information collection and not give
institutions ample time to program their
systems for these changes. Therefore,
the Federal Reserve will keep the
remaining information on Schedule K.

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Schedule L—Counterparty
Several commenters expressed
concern about the level of granularity,
increase in frequency, and timing of the
proposed addition of the Derivative
Profile by Counterparty and Aggregate
sub-schedule and expansion of the
Securities Financing Transactions (SFT)
Profile by Counterparty and Aggregate
sub-schedule. More detailed
counterparty data would allow the
Federal Reserve to assess the
reasonableness of the BHC’s modelbased estimates used as key input to
supervisory stress tests, and ensure the
comparability of results across BHCs.
However, in order to reduce reporting
burden while the comment period is
extended, the Federal Reserve will
change the legal-entity, nettingagreement level of reporting on tables
L.5.2 and L.6.2 to a consolidated
counterparty level. Additionally, the
Federal Reserve will remove the subasset categories on table L.5.2 at this
time. The Federal Reserve will consider
any additional comments received
during the extended public comment
period and incorporate changes, as
appropriate, before finalizing these data
items.
FR Y–14M
The majority of comments received
regarding the FR Y–14M requested
clarification of item definitions, and the
Federal Reserve will address these
comments in the final instructions. One
comment, however, results in a
modification to the proposed items and
is addressed below.
Schedule A—Domestic First Lien
Closed-end 1–4 Family Residential
Loan
One commenter noted that reporting
information regarding first lien home
equity loans would require significant
time and effort because such a category
of loans does not exist on the FR Y–9C,
and that no industry standard exists for
first lien home equity loans. In response
the Federal Reserve will remove the
item Home Equity Loan Flag.
SUPPLEMENTARY INFORMATION:
Request for Comment on Information
Collection Proposal
Abstract: As mentioned above, the
Federal Reserve will provide an
additional 30-day public comment
period for the collection of counterparty
agreement-level/asset-category data, to
request further information on the data
items listed below. If the Federal
Reserve receives no relevant comments,
the revisions will be finalized, effective
December 31, 2014, as originally

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proposed. If institutions are concerned
about providing this information in a
public comment letter, the Federal
Reserve recommends they submit this
information anonymously.
Counterparty
1. Is there difficulty in providing
information in Tables L.5.1 and L.6.1
and if so what is/are the difficult(ies)?
2. Is there difficulty in providing
counterparty transaction information at
a netting set level, as in Tables L.5.2 and
L.6.2? If so, what are the difficulties
with regard to internal systems or the
netting agreements themselves?
3. Is there difficulty in providing
counterparty transaction information
segmented by asset categories in
general? If so, what are the difficulties
with regard to internal systems or the
asset categories/sub-categories
proposed?
4. Do respondents have counterparty
transactions, either derivatives or
securities financing transactions (SFTs),
which are not part of a master
agreement? If so please provide details
about the internal management of these
transactions, especially with regard to
collateral.
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, September 26, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014–23346 Filed 9–30–14; 8:45 am]
BILLING CODE 6210–01–P

FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies;
Correction
This notice corrects a notice (FR Doc.
2014–22822) published on pages 57553
and 57554 of the issue for Thursday,
September 25, 2014.
Under the Federal Reserve Bank of
Kansas City heading, the entry for
Robert Craig Duncan and Diana H.
Duncan Revocable Trust, R. Craig
Duncan and Diana H. Duncan as
trustees, all of Winfield, Kansas; Robert
E. Duncan Revocable Trust, R. Craig
Duncan, as trustee, both of Winfield,
Kansas; Jane Gary Duncan Revocable
Trust, Jane Gary Duncan, as Trustee,

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