60-Day Federal Register Notice

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Federal Register / Vol. 85, No. 230 / Monday, November 30, 2020 / Notices

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The Agency reviews the safety
analyses and the public comments, and
determines whether granting the
exemption would likely achieve a level
of safety equivalent to, or greater than,
the level that would be achieved by the
current regulation (49 CFR 381.305).
The decision of the Agency must be
published in the Federal Register (49
CFR 381.315(b)) with the reason for the
grant or denial, and, if granted, the
specific person or class of persons
receiving the exemption, and the
regulatory provision or provisions from
which exemption is granted. The notice
must also specify the effective period of
the exemption (up to 5 years), and
explain the terms and conditions of the
exemption. The exemption may be
renewed (49 CFR 381.300(b)).
III. Background
The Commercial Motor Vehicle Safety
Act of 1986 (CMVSA) [49 U.S.C. chapter
313, implemented by 49 CFR part 383]
was designed to improve highway safety
by ensuring that truck and bus drivers
are qualified to drive a commercial
motor vehicle (CMV). States issue
drivers’ licenses to CMV operators, but
the Federal government sets minimum
requirements for the issuance of a
commercial driver’s license (CDL).
Subpart H of part 383 of the FMCSRs
sets forth the principal requirements
governing State testing of applicants for
a CDL.
On August 1, 2016, FMCSA published
a notice in the Federal Register
requesting public comment on
Minnesota’s application for exemption
from certain testing requirements in
§ 383.133 (81 FR 50592). Under
§ 383.133(c)(6) the CDL skills test must
be conducted in three parts in the
following order: pre-trip inspection,
vehicle control skills, and on-road
driving. Minnesota asked that it be
allowed to combine the second and
third parts (vehicle control skills and
on-road driving) and thus reduce the
skills tests to two parts. It also requested
to be exempted from using the
American Association of Motor Vehicle
Administrators (AAMVA) 2005 Test
Model Score Sheet. Finally, it requested
to be exempted from the requirement
that applicants must pass the pre-trip
inspection portion of the exam before
proceeding to the balance of the test.
The Agency received 12 comments.
Many commenters voiced opposition to
Minnesota’s request for relief from using
the AAMVA Score Sheet during testing.
Most commenters opposed allowing
Minnesota to shorten the testing to two
parts and to allow applicants who fail
the initial portion of the test to proceed
to the on-road testing. Generally, those

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opposed felt that granting the
exemptions would compromise the
standardization of testing among the
various States. On May 9, 2017, FMCSA
denied Minnesota’s application for
exemption for the following reasons:
• FMCSA opposed allowing a State to
amend the AAMVA test model score
sheet, which has been tested and
validated for use by all States in testing
prospective CMV drivers. When a CDL
driver moves to a new State and seeks
to transfer his or her CDL to that State,
universal use of the score sheet assures
the new State that the driver met a
baseline standard for safety when his or
her CDL was first issued.
• FMCSA opposed combining the
skills test. Under the proposed
exemption, an individual could pass
Minnesota’s combined test even though
he or she has exceeded the maximum
point deduction allowed when the two
portions (basic controls or on-the road)
of the skills test are given separately.
• FMCSA opposed allowing CDL
applicants to operate CMVs at highway
speeds when they have not
demonstrated the proper handling of the
vehicle at lower speeds during the basic
controls test.
Request for Reconsideration of Agency
Decision
Minnesota requests that FMCSA
reconsider its denial of the exemption
described. The State asks to be exempt
from using the AAMVA 2005 Test
Model Score Sheet and asserts that
FMCSA’s position is moot because
Minnesota’s score sheet evaluates the
same driving skills and contains the
same inspection elements as the
AAMVA scoresheet. Details are
provided in the State’s request for
reconsideration.
Minnesota asks that it be allowed to
combine vehicle control skills and onroad driving and thus have two parts to
its skills test. Minnesota argues that
FMCSA’s finding in the denial letter
does not accurately describe how its
scoring is applied.
Finally, Minnesota asks to be
exempted from the requirement that
applicants must pass the pre-trip
inspection portion of the exam before
proceeding to the balance of the test.
Minnesota contends that the order in
which the elements of the CDL test are
conducted does not result in unsafe
conditions or the operation of a CMV at
highway speeds. Minnesota explained
that exam stations are located in low
traffic speed residential and downtown
areas across the State. Once the vehicle
inspection is completed, drivers travel
at low speeds per traffic signs to the
location where backing exercises are

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conducted. The basic controls segment
consists of backing maneuvers with
potential pull ups and is performed at
very low speed. Consequently, drivers
do not proceed to highway speeds prior
to completing the basic control skills.
A copy of FMCSA’s May 9, 2017,
letter denying Minnesota’s original
application and of the State’s request for
reconsideration is in the docket listed at
the beginning of this notice.
V. Request for Comments
In accordance with 49 U.S.C.
31315(b)(6), FMCSA requests public
comment from all interested persons on
Minnesota’s request for reconsideration
of its application for an exemption. All
comments received before the close of
business on the comment closing date
indicated at the beginning of this notice
will be considered and will be available
for examination in the docket at the
location listed under the ADDRESSES
section of this notice. Comments
received after the comment closing date
will be filed in the public docket and
will be considered to the extent
practicable. In addition to late
comments, FMCSA will also continue to
file, in the public docket, relevant
information that becomes available after
the comment closing date. Interested
persons should continue to examine the
public docket for new material.
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2020–26353 Filed 11–27–20; 8:45 am]
BILLING CODE 4910–EX–P

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities; Comment
Request
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.
AGENCY:

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

SUMMARY:

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TKELLEY on DSKBCP9HB2PROD with NOTICES

Federal Register / Vol. 85, No. 230 / Monday, November 30, 2020 / Notices
to, an information collection unless it
displays a currently valid Office of
Management and Budget (OMB) control
number. The Federal Financial
Institutions Examination Council
(FFIEC), of which the agencies are
members, has approved the agencies’
publication for public comment of a
proposal to revise and extend the
Consolidated Reports of Condition and
Income (Call Reports) (FFIEC 031,
FFIEC 041, and FFIEC 051), which are
currently approved collections of
information. The agencies are requesting
comment on an adjustment to the
measurement date for certain total asset
thresholds that trigger additional
reporting requirements in the Call
Reports for report dates in 2021 only
due to institution asset growth in 2020
related to participation in various
coronavirus disease 2019 (COVID–19)
related stimulus activities.
DATES: Comments must be submitted on
or before January 29, 2021.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the ‘‘Call Report
Reporting Revisions,’’ will be shared
among the agencies.
OCC: You may submit comments,
which should refer to ‘‘Call Report
Reporting Revisions,’’ by any of the
following methods:
• Email: [email protected].
• Mail: Chief Counsel’s Office, Office
of the Comptroller of the Currency,
Attention: 1557–0081, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0081’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection by the following
method:

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• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0081.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
Board: You may submit comments,
which should refer to ‘‘Call Report
Reporting Revisions,’’ by any of the
following methods:
• Agency website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Email: regs.comments@
federalreserve.gov. Include ‘‘Call Report
Reporting Revisions’’ in the subject line
of the message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available on
the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information.
FDIC: You may submit comments,
which should refer to ‘‘Call Report
Reporting Revisions,’’ by any of the
following methods:
• Agency Website: https://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC’s website.
• Federal eRulemaking Portal:
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Email: [email protected].
Include ‘‘Call Report Reporting
Revisions’’ in the subject line of the
message.
• Mail: Manuel E. Cabeza, Counsel,
Attn: Comments, Room MB–3128,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.

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• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
(located on F Street) on business days
between 7:00 a.m. and 5:00 p.m.
• Public Inspection: All comments
received will be posted without change
to https://www.fdic.gov/regulations/
laws/federal/ including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
Additionally, commenters may send a
copy of their comments to the OMB
desk officers for the agencies by mail to
the Office of Information and Regulatory
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
[email protected].
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the information collections
discussed in this notice, please contact
any of the agency staff whose names
appear below. In addition, copies of the
report forms for the Call Reports can be
obtained at the FFIEC’s website (https://
www.ffiec.gov/ffiec_report_forms.htm).
OCC: Kevin Korzeniewski, Counsel,
Chief Counsel’s Office, (202) 649–5490.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, Board of Governors of the
Federal Reserve System, 20th and C
Streets NW, Washington, DC 20551.
Telecommunications Device for the Deaf
(TDD) users may call (202) 263–4869.
FDIC: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
I. Report Summary
The agencies propose to extend for
three years, with revision, the FFIEC
031, FFIEC 041, and FFIEC 051 Call
Reports.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: FFIEC 031
(Consolidated Reports of Condition and
Income for a Bank with Domestic and
Foreign Offices), FFIEC 041
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only), and FFIEC 051
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only and Total Assets Less Than
$5 Billion).
Frequency of Response: Quarterly.

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Federal Register / Vol. 85, No. 230 / Monday, November 30, 2020 / Notices

Affected Public: Business or other forprofit.
Type of Review: Revision and
extension of currently approved
collections.
OCC:
OMB Control No.: 1557–0081.
Estimated Number of Respondents:
1,111 national banks and federal savings
associations.
Estimated Average Burden per
Response: 41.92 burden hours per
quarter to file.
Estimated Total Annual Burden:
186,292 burden hours to file.
Board:
OMB Control No.: 7100–0036.
Estimated Number of Respondents:
739 state member banks.
Estimated Average Burden per
Response: 45.40 burden hours per
quarter to file.
Estimated Total Annual Burden:
134,202 burden hours to file.
FDIC:
OMB Control No.: 3064–0052.
Estimated Number of Respondents:
3,263 insured state nonmember banks
and state savings associations.
Estimated Average Burden per
Response: 39.96 burden hours per
quarter to file.
Estimated Total Annual Burden:
521,558 burden hours to file.
The estimated average burden hours
collectively reflect the estimates for the
FFIEC 031, the FFIEC 041, and the
FFIEC 051 reports for each agency.
When the estimates are calculated by
type of report across the agencies, the
estimated average burden hours per
quarter are 85.81 (FFIEC 031), 55.20
(FFIEC 041), and 35.27 (FFIEC 051). The
agencies believe the change to the
measurement date for the total asset
thresholds used to determine additional
reporting requirements for report dates
in 2021 only that is proposed in this
notice will not result in a change in the
burden estimates currently approved by
OMB. These estimates do not include
increases in burden for report dates in
2021 that would have resulted from
institutions growing above asset
thresholds within the Call Report
because these institutions would now be
afforded threshold relief. Instead, the
agencies periodically reevaluate their
burden estimates based on the data
items that are regularly completed by
institutions. Therefore, the burden
estimates for these reports would
remain the same if these revisions are
finalized. The estimated burden per
response for the quarterly filings of the
Call Report is an average that varies by
agency because of differences in the
composition of the institutions under

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each agency’s supervision (e.g., size
distribution of institutions, types of
activities in which they are engaged,
and existence of foreign offices).
Type of Review: Extension and
revision of currently approved
collections.
Legal Basis and Need for Collections
The Call Report information
collections are mandatory: 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state
member banks), 12 U.S.C. 1817 (insured
state nonmember commercial and
savings banks), and 12 U.S.C. 1464
(federal and state savings associations).
At present, except for selected data
items and text, these information
collections are not given confidential
treatment.
Banks and savings associations
submit Call Report data to the agencies
each quarter for the agencies’ use in
monitoring the condition, performance,
and risk profile of individual
institutions and the industry as a whole.
Call Report data serve a regulatory or
public policy purpose by assisting the
agencies in fulfilling their shared
missions of ensuring the safety and
soundness of financial institutions and
the financial system and protecting
consumer financial rights, as well as
agency-specific missions affecting
national and state-chartered institutions,
such as conducting monetary policy,
ensuring financial stability, and
administering federal deposit insurance.
Call Reports are the source of the most
current statistical data available for
identifying areas of focus for on-site and
off-site examinations. Among other
purposes, the agencies use Call Report
data in evaluating institutions’ corporate
applications, including interstate merger
and acquisition applications for which
the agencies are required by law to
determine whether the resulting
institution would control more than 10
percent of the total amount of deposits
of insured depository institutions in the
United States. Call Report data also are
used to calculate institutions’ deposit
insurance assessments and national
banks’ and federal savings associations’
semiannual assessment fees.
II. Current Action
During 2020, relief measures enacted
by Congress through the Coronavirus
Aid, Relief, and Economic Security Act
(CARES Act) 1 in response to the strains
on the U.S. economy and disruptions to
the financial markets as a result of
COVID–19 have led to unprecedented
growth at many institutions, including
loans made through the Paycheck
1 Public

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Protection Program (PPP). This rapid
growth has caused the assets of some
institutions to rise above certain assetbased thresholds, and may cause other
community institutions to do so in the
near future. Much of this growth,
especially growth related to PPP
lending, is likely to be temporary, and
the increase in assets currently held by
an institution may not reflect a change
in the institution’s longer-term risk
profile.
The Call Report contains various total
asset thresholds that are measured
annually as of the June 30 report date
and trigger additional reporting
requirements once crossed, generally
starting with the Call Reports for the
first calendar quarter of the next
calendar year. These thresholds include
the $100 million, $300 million, $1
billion, $5 billion, and $10 billion in
total asset threshold within the Call
Reports. The agencies are particularly
focused on these total asset thresholds
set at $10 billion or less, as these
thresholds could impact a significant
number of smaller community
institutions. These institutions may
have fewer resources to implement
systems changes and incur transition
costs to comply with the additional
reporting requirements associated with
crossing one of those thresholds.
Many community institutions may
have unexpectedly crossed these total
asset thresholds during 2020 due to
participation in CARES Act relief
programs or other COVID–19-related
stimulus activities, which would
otherwise trigger additional reporting
obligations starting in calendar year
2021. The agencies expect some of these
institutions may fall below the relevant
total asset threshold as of June 30, 2021,
for example, after forgiveness of PPP
loans and redemption of borrowings
obtained through the Board’s PPP
liquidity facility. The agencies do not
want to create a short-term increase in
burden on these community institutions
to comply with the additional reporting
for a single year. For community
institutions that remain above a total
asset threshold as of the June 30, 2021,
measurement date, the one-year
reporting relief the agencies propose
below would assist those institutions in
focusing on COVID–19-related stimulus
activities in the near term while
providing additional time to comply
with any additional reporting
requirements starting in 2022 rather
than 2021.
The agencies are not proposing to
permit an alternate measurement date
for larger total asset thresholds within
the Call Reports, as the additional data
items required at higher total assets

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Federal Register / Vol. 85, No. 230 / Monday, November 30, 2020 / Notices
thresholds have increased relevance for
agency supervisory monitoring. The
agencies also are not proposing to
permit an alternate measurement date
for other asset thresholds tied to specific
activities, such as thresholds based on
trading assets, mortgage banking
activities, or securitization activities, as
levels of these activities generally would
not be impacted by an institution’s
participation in various COVID–19related stimulus activities.
A. FFIEC 051 Eligibility
The agencies have adopted rules
establishing criteria for eligibility to use
the FFIEC 051 Call Report.2 The current
Call Report instructions permit an
institution to file the FFIEC 051 version
of the Call Report if it meets certain
criteria consistent with those rules. One
criterion is that an institution must have
total consolidated assets of $5 billion or
less in its Call Report as of June 30,
2020, when evaluating eligibility to use
the FFIEC 051 for report dates in
calendar year 2021. Due to the asset
growth considerations discussed above,
the agencies have revised their rules on
FFIEC 051 eligibility 3 and are proposing
to temporarily revise the instructions for
the FFIEC 051 to permit an institution
to use the lesser of the total
consolidated assets reported in its Call
Report as of December 31, 2019, or June
30, 2020, when evaluating eligibility to
use the FFIEC 051 for report dates in
calendar year 2021. An institution must
still meet the other criteria for eligibility
for the FFIEC 051 in the Call Report
instructions. The banking agencies also
reserve the right to require an institution
otherwise eligible to use the FFIEC 051
to file the FFIEC 041 instead based on
supervisory needs. The agencies are
proposing this relief for calendar year
2021 only. An institution would be
required to use the total consolidated
assets it reports in its Call Report as of
June 30, 2021, when determining
eligibility to use the FFIEC 051 in
calendar year 2022, consistent with the
existing instructions for the FFIEC 051.

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B. Community Bank Leverage Ratio
Eligibility
The agencies also have adopted rules
permitting institutions that meet certain
criteria to use the community bank
leverage ratio (CBLR) framework to
measure their regulatory capital.4 The
2 See

definition of covered depository institutions.
12 CFR 52.2 (OCC); 12 CFR 208.121 (Board); 12 CFR
304.12 (FDIC).
3 https://www.fdic.gov/news/press-releases/2020/
pr20127.html.
4 See 12 CFR 3.12 (OCC); 12 CFR 217.12 (Board);
12 CFR 324.12 (FDIC).

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agencies have revised these rules 5 to
allow institutions that temporarily
exceed the $10 billion total asset
threshold in those rules to use the CBLR
framework from December 31, 2020, to
December 31, 2021, provided they meet
the other qualifying criteria for this
framework. Institutions that elect to use
the CBLR framework under this
temporary relief would report CBLR
information in Call Report Schedule
RC–R, Part I, except that item 32 (Total
assets) on that schedule should reflect
the lesser of the institution’s total assets
as of December 31, 2019, or as of the
quarter-end report date.
C. Call Report Data Item Thresholds
All three versions of the Call Report
also include total asset thresholds for
reporting certain additional data items.
Reporting of these data items in a given
calendar year is determined based on
whether an institution has crossed the
total asset threshold based on the total
consolidated assets reported as of June
30 of the prior year. For the reasons
described above, the agencies propose to
permit an institution to use the lesser of
the total consolidated assets reported in
its Call Report as of December 31, 2019,
or June 30, 2020, when determining
whether the institution has crossed a
total asset threshold to report additional
data items in its Call Reports for report
dates in calendar year 2021. The
agencies are proposing this relief for
calendar year 2021 only. An institution
would be required to use the total
consolidated assets reported in its Call
Report as of June 30, 2021, when
determining whether it must complete
any additional items subject to the total
asset threshold in calendar year 2022.
As noted above, the regulatory reporting
burden relief is limited to community
institutions with total asset thresholds
up to $10 billion, as these thresholds are
most relevant for community
institutions.
The Call Report total asset thresholds
that would be impacted by this
proposed change in measurement date
are:
• For the FFIEC 041 and FFIEC 051
only, the $100 million threshold to
report ‘‘Other borrowed money’’ in
Schedule RC–K, item 13.
• For the FFIEC 041 and FFIEC 051
only, the $300 million threshold 6 to
report additional agricultural lending
5 https://www.fdic.gov/news/press-releases/2020/
pr20127.html.
6 These same items also have a 5 percent activity
threshold for institutions with less than $300
million in total consolidated assets. For these items,
an institution would measure the 5 percent
threshold as of the same date as of which it
measures total consolidated assets.

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information in Schedule RI,
Memorandum item 6; Schedule RI–B,
Part I, Memorandum item 3; Schedule
RC–C, Memorandum item 1.f.(5);
Schedule RC–K, Memorandum item 1;
and Schedule RC–N, Memorandum
items 1.f.(5) and 4.
• For the FFIEC 031 and FFIEC 041
only, the $300 million threshold to
report certain information on credit card
lines in Schedule RC–L, items 1.b.(1)
and (2).
• For the FFIEC 041 only, the $300
million threshold to report cash and
balances due from depository
institutions in Schedule RC–A; certain
derivatives information in Schedule RI,
Memorandum item 10, and Schedule
RC–N, Memorandum item 6; and certain
additional loan information in Schedule
RI–B, Part I, Memorandum items 2.a,
2.c, and 2.d; Schedule RC–C, Part I,
items 2.a, 2.b, 2.c, 4.a, 4.b, 9.b.(1),
9.b.(2), 10.a, and 10.b, column A;
Schedule RC–C, Part I, Memorandum
items 1.e.(1), 1.e.(2), and 5; and
Schedule RC–N, Memorandum items
1.e.(1), 1.e.(2), and 3.a through 3.d.
• The $1 billion threshold to report
components of deposit fee income in
Schedule RI, Memorandum items 15.a
through 15.d; disaggregated credit loss
allowance data in Schedule RI–C;
components of transaction and
nontransaction savings consumer
deposit account products in Schedule
RC–E, Memorandum items 6.a, 6.b,
7.a.(1), 7.a.(2), 7.b.(1), and 7.b.(2); and
estimated uninsured deposits in
Schedule RC–O, Memorandum item 2.
• For the FFIEC 031 and FFIEC 041
only, the $1 billion threshold to report
information on certain income from
mutual funds and annuities in Schedule
RI, Memorandum item 2; and financial
and performance standby letters of
credit conveyed to others in Schedule
RC–L, items 2.a and 3.a.
• For the FFIEC 031 and FFIEC 041
only, the $10 billion threshold to report
additional information on derivatives in
Schedule RI, Memorandum items 9.a
and 9.b, and Schedule RC–L, items 16.a
and 16.b.(1) through 16.b.(8); holdings
of asset-backed securities and structured
financial products in Schedule RC–B,
Memorandum items 5.a through 5.f and
6.a through 6.g; and securitizations in
Schedule RC–S, items 6 and 10, and
Memorandum items 3.a.(1), 3.a.(2),
3.b.(1), and 3.b.(2).
• For the FFIEC 031 only, the $10
billion threshold to report additional
information on deposits in foreign
offices in Schedule RC–E, Part II.

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76662

Federal Register / Vol. 85, No. 230 / Monday, November 30, 2020 / Notices

III. Request for Comment
Public comment is requested on all
aspects of this joint notice. Comment is
specifically invited on:
(a) Whether the proposed revisions to
the collections of information that are
the subject of this notice 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 as they are
proposed to be revised, 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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
Board of Governors of the Federal Reserve
System.
Michelle Taylor Fennell,
Deputy Associate Secretary of the Board.
Dated at Washington, DC, on or about
November 24, 2020.
Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2020–26388 Filed 11–27–20; 8:45 am]
BILLING CODE 4810–33– 6210–01– 6714–01–P

DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Financial
Crimes Enforcement Network Due
Diligence Programs for Correspondent
Accounts for Foreign Financial
Institutions and Private Banking
Accounts
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.

TKELLEY on DSKBCP9HB2PROD with NOTICES

AGENCY:

The Department of the
Treasury will submit the following
information collection requests to the
Office of Management and Budget
(OMB) for review and clearance in
accordance with the Paperwork

SUMMARY:

VerDate Sep<11>2014

20:03 Nov 27, 2020

Jkt 253001

Reduction Act of 1995, on or after the
date of publication of this notice. The
public is invited to submit comments on
these requests.
DATES: Comments should be received on
or before December 30, 2020 to be
assured of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Molly Stasko by emailing
[email protected], calling (202) 622–
8922, or viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Financial Crimes Enforcement Network
(FinCEN)
1. Title: Due diligence programs for
correspondent accounts for foreign
financial institutions and private
banking accounts (31 CFR 1010.610 and
31 CFR 1010.620).
OMB Control Number: 1506–0046.
Type of Review: Extension without
change of a currently approved
collection.
Description: The legislative
framework generally referred to as the
Bank Secrecy Act (BSA) consists of the
Currency and Financial Transactions
Reporting Act of 1970, as amended by
the Uniting and Strengthening America
by Providing Appropriate Tools
Required to Intercept and Obstruct
Terrorism Act of 2001 (USA PATRIOT
Act) (Pub. L. 107–56) and other
legislation. The BSA is codified at 12
U.S.C. 1829b, 12 U.S.C. 1951–1959, 31
U.S.C. 5311–5314 and 5316–5332, and
notes thereto, with implementing
regulations at 31 CFR Chapter X.
The BSA authorizes the Secretary of
the Treasury, inter alia, to require
financial institutions to keep records
and file reports that are determined to
have a high degree of usefulness in
criminal, tax, and regulatory matters, or
in the conduct of intelligence or
counter-intelligence activities, to protect
against international terrorism, and to
implement anti-money laundering
(AML) programs and compliance
procedures. Regulations implementing
Title II of the BSA appear at 31 CFR
chapter X. The authority of the
Secretary to administer the BSA has
been delegated to the Director of
FinCEN.

PO 00000

Frm 00149

Fmt 4703

Sfmt 4703

Section 312 of the USA PATRIOT Act
added subsection (h) to 31 U.S.C. 5318
of the BSA. Section 312 mandates that
each financial institution that
establishes, maintains, administers, or
manages a correspondent account or a
private banking account in the United
States for non-U.S. persons subject such
accounts to certain anti-money
laundering compliance measures. In
particular, a financial institution must
establish appropriate, specific, and,
where necessary, enhanced, due
diligence (EDD) or enhanced scrutiny
policies, procedures, and controls that
are reasonably designed to detect and
report instances of money laundering
through those accounts. The regulations
implementing the due diligence
requirements for maintaining foreign
correspondent accounts and private
banking accounts are found at 31 CFR
1010.610 and 31 CFR 1010.620,
respectively, and apply to covered
financial institutions defined as banks,
brokers or dealers in securities, futures
commission merchants, introducing
brokers in commodities, and mutual
funds.
Form: Not applicable.
Affected Public: Businesses or other
for-profit institutions; Not-for-profit
institutions.
Estimated Number of Respondents:
16,938.
Frequency of Response: As required.
Estimated Total Number of Annual
Responses: 16,938.
Estimated Time per Response: 2
hours.
Estimated Total Annual Burden
Hours: 33,876 hours.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: November 23, 2020.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2020–26286 Filed 11–27–20; 8:45 am]
BILLING CODE 4810–02–P

UNIFIED CARRIER REGISTRATION
PLAN
Sunshine Act Meeting Notice; Unified
Carrier Registration Plan Board
Subcommittee Meeting
December 3, 2020, from
Noon to 2 p.m., Eastern time.
PLACE: This meeting will be accessible
via conference call and via Zoom
Meeting and Screenshare. Any
interested person may call (i) 1–929–
205–6099 (US Toll) or 1–669–900–6833
(US Toll) or (ii) 1–877–853–5247 (US
Toll Free) or 1–888–788–0099 (US Toll
Free), Meeting ID: 965 1818 4622, to
listen and participate in this meeting.
TIME AND DATE:

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