The Board, the Office of the
Comptroller of the Currency (OCC), the Federal Deposit Insurance
Corporation (FDIC), the Commodity Futures Trading Commission
(CFTC), and the Securities and Exchange Commission (SEC)
(collectively, the agencies) adopted a final rule that implemented
section 13 of the Bank Holding Company Act of 1956 (BHC Act), which
was added by section 619 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act). Section 13 contains
certain prohibitions and restrictions on the ability of a banking
entity supervised by the agencies to engage in proprietary trading
or to have certain interests in, or relationships with, a hedge
fund or private equity fund. Section 248.20 and Appendix A of
Regulation VV - Proprietary Trading and Certain Interests in and
Relationships with Covered Funds require certain of the largest
banking entities engaged in significant trading activities to
collect, evaluate, and furnish data regarding covered trading
activities as an indicator of areas meriting additional attention
by the banking entity and the Board.
The decrease in burden reflects
an adjustment to the burden methodology used by the agencies and a
reduction in the number of respondents from the joint final rule
(84 FR 35008; July 22, 2019).
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
FRVV_20200214_83c.pdf
Ongoing Disclosure Section 248.11(a)(8)(i)