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pdfSupporting Statement for the
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation Q
(FR Q; OMB No. 7100-0313)
Summary
The Board of Governors of the Federal Reserve System (Board), under authority
delegated by the Office of Management and Budget (OMB), has extended for three years, with
revision, the Reporting, Recordkeeping, and Disclosure Requirements Associated with
Regulation Q (FR Q; OMB No. 7100-0313). The Board’s Regulation Q - Capital Adequacy of
Bank Holding Companies, Savings and Loan Holding Companies, and State Member Banks
(12 CFR Part 217) sets forth the capital adequacy requirements for state member banks (SMBs),
certain bank holding companies (BHCs), U.S. intermediate holding companies (IHCs), and
certain covered savings and loan holding companies (SLHCs) (collectively, Board-regulated
institutions).
The Board revised the FR Q information collection to account for a reporting provision in
section 217.37(c)(4)(i)(E) of Regulation Q and a disclosure provision in section 217.124(a) of
Regulation Q, which have not been previously cleared by the Board under the Paperwork
Reduction Act (PRA).
The current estimated total annual burden for the FR Q is 76,216 hours, and would
increase to 76,250 hours. The revisions would result in an increase of 34 hours. There are no
required reporting forms associated with this information collection.
Background and Justification
Section 1831o(c) of the Federal Deposit Insurance Act requires each federal banking
agency to adopt a risk-based capital requirement, under the prompt corrective action framework
in that section. The International Lending Supervision Act of 1983 (ILSA) (12 U.S.C. §
3907(a)(1)) mandates that each federal banking agency require banking institutions to achieve
and maintain adequate capital by establishing minimum levels of capital or by other methods that
the applicable federal banking agency may deem appropriate. In order to implement these and
other statutory requirements (e.g., section 5 of the Bank Holding Company Act of 1956 (BHC
Act)), the Board, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller
of the Currency (OCC) have issued rules establishing minimum capital requirements and overall
capital adequacy standards for banking organizations. The Board’s capital rule is located in
Regulation Q1 and applies to SMBs, certain BHCs, IHCs, and certain covered SLHCs. 2
1
12 CFR Part 217.
The Board’s capital rule generally does not apply to BHCs or covered SLHCs that meet the requirements of the
Small Bank Holding Company and Savings and Loan Holding Company Policy Statement, 12 CFR Part 225,
Appendix C. For the definition of “Covered savings and loan holding company,” see 12 CFR 217.2.
2
Description of Information Collection
The reporting requirements in Regulation Q are found in sections 217.37(c)(4)(i)(E),
217.123, 217.124, 217.132(b)(2)(iii)(A), 217.132(b)(3), 217.132(d)(1), 217.132(d)(1)(iii),
217.132(d)(2)(iv), and 217.153. The recordkeeping requirements in Regulation Q are found in
sections 217.3(d), 217.35(b)(3)(i)(A), 217.37(c)(4)(i)(E), 217.41(b)(3), 217.41(c)(2)(i),
217.41(c)(2)(ii), 217.121(b), 217.122, 217.132(d)(3)(vi), 217.132(d)(3)(viii), 217.132(d)(3)(ix),
217.132(d)(3)(x), 217.132(d)(3)(xi), 217.141(b)(3), 217.141(c)(1), and 217.141(c)(2)(i)-(ii).3 The
disclosure requirements in Regulation Q are found in sections 217.42(e)(2), 217.62, 217.63,
217.124(a), 217.142, 217.172, and 217.173 Tables 2, 3, 4, 5, 9, 12, and 13. No other federal law
mandates these reporting, recordkeeping, and disclosure requirements, and the information is not
available from other sources.
Minimum Capital Ratios
Recordkeeping Requirements
Section 217.3(d) provides for termination and close-out netting across multiple types of
transactions or agreements if the bank obtains a written legal opinion verifying the validity and
enforceability of the agreement under certain circumstances and maintains sufficient written
documentation of this legal review.
Standardized Approach
Reporting Requirements
Section 217.37(c)(4)(i)(E) requires Board-regulated institutions to obtain the prior
approval of the Board for, and notify the Board if the Board-regulated institution makes any
material changes to, these policies and procedures.
Recordkeeping Requirements
Section 217.35(b)(3)(i)(A) requires, for a cleared transaction with a qualified central
counterparty (QCCP), that a client Board-regulated institution apply a risk weight of 2 percent,
provided that the collateral posted by the institution to the QCCP is subject to certain
arrangements and the client bank has conducted a sufficient legal review (and maintains
sufficient written documentation of the legal review) to conclude with a well-founded basis that
the arrangements, in the event of a legal challenge, would be found to be legal, valid, binding,
and enforceable under the law of the relevant jurisdictions.
Section 217.37(c)(4)(i)(E) requires that a Board-regulated institution have policies and
procedures describing how it determines the period of significant financial stress used to
3
The Board previously included sections 217.402 and 217.403 in the FR Q clearance as provisions that include
recordkeeping requirements. References to these sections are being removed from the FR Q clearance, as they do
not include information collections, as defined by the PRA.
2
calculate its own internal estimates for haircuts and be able to provide empirical support for the
period used.
Section 217.41(b)(3) provides that, for synthetic securitizations, a Board-regulated
institution may recognize for risk-based capital purposes the use of a credit risk mitigant to
hedge underlying exposures if certain conditions are met, including the institution’s having
obtained a well-reasoned opinion from legal counsel that confirms the enforceability of the credit
risk mitigant in all relevant jurisdictions.
Section 217.41(c)(2)(i) requires that a Board-regulated institution support a
demonstration of its comprehensive understanding of a securitization exposure by conducting
and documenting an analysis of the risk characteristics of each securitization exposure prior to its
acquisition, taking into account a number of specified considerations.
Section 217.41(c)(2)(ii) requires that, on an on-going basis (no less frequently than
quarterly), a Board-regulated institution must evaluate, review, and update as appropriate the
analysis required under this section for each securitization exposure.
Disclosure Requirements
Section 217.42(e)(2) addresses risk-weighted assets for securitization exposures and
requires that a Board-regulated institution that provides support to a securitization in excess of
the Board-regulated institution’s contractual obligation to provide credit support to the
securitization publicly disclose that is has provided such implicit support to the securitization, as
well as the risk-based capital impact to the Board-regulated institution of providing such implicit
support.
Section 217.62 sets forth disclosure requirements related to a Board-regulated
institution’s capital requirements. Section 217.62(a) specifies a quarterly frequency for the
disclosure of information in the applicable tables set out in section 217.63 and, if a significant
change occurs, such that the most recent reported amounts are no longer reflective of the Boardregulated institution’s capital adequacy and risk profile, it also requires the institution to disclose,
as soon as practicable thereafter, a brief discussion of the change and its likely impact. This
section allows for annual disclosure of qualitative information that typically does not change
each quarter, provided that any significant changes are disclosed in the interim. Section
217.62(b) requires that a Board-regulated institution have a formal disclosure policy approved by
the board of directors that addresses its approach for determining the disclosures it makes. The
policy is required to address the associated internal controls and disclosure controls and
procedures. Section 217.62(c) requires a Board-regulated institution with total consolidated
assets of $50 billion or more that is not an advanced approaches Board-regulated institution, if it
concludes that specific commercial or financial information required to be disclosed under
section 217.62 is exempt from disclosure by the Board under the Freedom of Information Act
(5 U.S.C. § 552), to disclose more general information about the subject matter of the
requirement and the reason the specific items of information have not been disclosed.
3
Section 217.63 sets forth disclosure requirements for Board-regulated institutions with
total consolidated assets of $50 billion or more that are not advanced approaches banks. Section
217.63(a) requires a Board-regulated institution to make the disclosures in Tables 1 through 10.
The institution must make these disclosures publicly available for each of the last three years
(that is, twelve quarters). Section 217.63(b) requires quarterly disclosure of a Board-regulated
institution’s common equity tier 1 capital, additional tier 1 capital, tier 2 capital, tier 1 and total
capital ratios, including the regulatory capital elements and all the regulatory adjustments and
deductions needed to calculate the numerator of such ratios; total risk-weighted assets, including
the different regulatory adjustments and deductions needed to calculate total risk-weighted
assets; regulatory capital ratios during any transition periods, including a description of all the
regulatory capital elements and all regulatory adjustments and deductions needed to calculate the
numerator and denominator of each capital ratio during any transition period; and a
reconciliation of regulatory capital elements as they relate to its balance sheet in any audited
consolidated financial statements.
Tables 1 through 10 in section 217.63 set forth qualitative and quantitative disclosure
requirements for scope of application, capital structure, capital adequacy, capital conservation
buffer, credit risk, counterparty credit risk-related exposures, credit risk mitigation,
securitizations, equities not subject to Subpart F (Risk-Weighted Assets - Market Risk) of the
rule, and interest rate risk for non-trading activities.
Advanced Approaches
Reporting Requirements
Section 217.123 requires an advanced approaches Board-regulated institution to notify
the Board of changes to advance systems and requires submission of a plan for returning to
compliance with qualification requirements.
Section 217.124 requires an advanced approaches Board-regulated institution to notify
the Board when it makes a material change to its advanced systems and to develop an
implementation plan after any mergers.
Section 217.132(b)(2)(iii)(A) addresses counterparty credit risk of repo-style transactions,
eligible margin loans, and over-the-counter derivative contracts and allows an institution, with
the prior written approval of the Board, to calculate haircuts using its own internal estimates of
the volatilities of market prices and foreign exchange rates. To receive Board approval to use its
own internal estimates, an institution must satisfy the minimum quantitative standards outlined in
this section, including maintaining policies and procedures that describe how it determines the
period of significant financial stress used to calculate the Board-regulated institution’s own
internal estimates for haircuts under this section and must be able to provide empirical support
for the period used. The Board-regulated institution must obtain the prior approval of the Board
for and notify the Board if the Board-regulated institution makes any material changes to these
policies and procedures.
4
Section 217.132(b)(3) provides that, with the prior written approval of the Board, an
advanced approaches Board-regulated institution may estimate exposure at default (EAD) for a
netting set using a value-at-risk (VaR) model that meets certain requirements.
Section 217.132(d)(1) allows the use of the internal models methodology to determine
EAD for counterparty credit risk for derivative contracts with prior written approval by the
Board.
Section 217.132(d)(1)(iii) allows the use of the internal models methodology for
derivative contracts, eligible margin loans, and repo-style transactions subject to a qualifying
cross-product netting agreement with prior written approval.
Section 217.132(d)(2)(iv) provides that for risk-weighted assets using the internal models
methodology (IMM), an advanced approaches Board-regulated institution uses an internal model
to estimate the expected exposure (EE) for a netting set and then calculates EAD based on that
EE. An advanced approaches Board-regulated institution must calculate two EEs and two EADs
(one stressed and one unstressed) for each netting as outlined in this section.
Section 217.153 provides that an advanced approaches Board-regulated institution must
receive prior written approval from the Board before it can use the internal models approach. 4
Recordkeeping Requirements
Section 217.121 requires that each advanced approaches Board-regulated institution
adopt a written implementation plan that addresses in detail how the institution complies, or
plans to comply, with the qualification requirements set forth in section 217.122, and must
maintain a comprehensive and sound planning and governance process to oversee the
implementation efforts described in the plan. Section 217.121 also requires an advanced
approaches Board-regulated institution to document its process for identifying, measuring,
monitoring, controlling, and internally reporting operational risk; verify the accurate and timely
reporting of risk-based capital requirements; and monitor, validate, and refine its advanced
systems. In addition, if an advanced approaches Board-regulated institution uses multiple rating
or segmentation systems to differentiate degrees of credit risk for its wholesale and retail
exposures, section 217.122(b)(1)(ii) requires that the institution’s rationale for assigning an
obligor or exposure to a particular system be documented and applied in a manner that best
reflects the obligor or exposure's level of risk.
Section 217.132(d)(3)(vi) requires that an advanced approaches Board-regulated
institution, in order to obtain agency approval to calculate the distributions of exposures upon
which the EAD calculation is based, must demonstrate to the satisfaction of the agency that it has
been using for at least one year an internal model that broadly meets the minimum standards,
with which the institution must maintain compliance. The institution must have procedures to
identify, monitor, and control wrong-way risk throughout the life of an exposure. The procedures
must include stress testing and scenario analysis.
4
This provision was provision was previously misidentified as a recordkeeping requirement and has been
reclassified as a reporting requirement.
5
Section 217.132(d)(3)(viii) requires that when estimating model parameters based on a
stress period, an advanced approaches Board-regulated institution must use at least three years of
historical data that include a period of stress to the credit default spreads of the institution ’s
counterparties. The institution must review the data set and update the data as necessary,
particularly for any material changes in its counterparties. The institution must demonstrate at
least quarterly, and maintain documentation of such demonstration, that the stress period
coincides with increased credit default swap or other credit spreads of the institution’s
counterparties. The institution must have procedures to evaluate the effectiveness of its stress
calibration that include a process for using benchmark portfolios that are vulnerable to the same
risk factors as the institution’s portfolio. The agency may require the institution to modify its
stress calibration to better reflect actual historic losses of the portfolio.
Section 217.132(d)(3)(ix) requires that an advanced approaches Board-regulated
institution subject its internal model to an initial validation and annual model review process.
The model review should consider whether the inputs and risk factors, as well as the model
outputs, are appropriate. As part of the model review process, the institution must have a
backtesting program for its model that includes a process by which unacceptable model
performance will be determined and remedied.
Section 217.132(d)(3)(x) requires that an advanced approaches Board-regulated
institution must have policies for the measurement, management, and control of collateral and
margin amounts.
Section 217.132(d)(3)(xi) requires that an advanced approaches Board-regulated
institution have a comprehensive stress testing program that captures all credit exposures to
counterparties, and incorporates stress testing of principal market risk factors and
creditworthiness of counterparties.
Section 217.141 addresses operational criteria for recognizing the transfer of risk. Section
217.141(b)(3) requires a well-reasoned legal opinion confirming the enforceability of the credit
risk mitigant in all relevant jurisdictions. Section 217.141(c)(1) and 217.141(c)(2)(i) require an
advanced approaches institution to demonstrate its comprehensive understanding of a
securitization exposure for each securitization exposure by conducting an analysis of the risk
characteristics of a securitization exposure prior to acquiring the exposure and do cument such
analysis within three business days after acquiring the exposure. Section 217.141(c)(2)(ii)
requires that, on an ongoing basis (no less frequently than quarterly), a bank must evaluate,
review, and update as appropriate the analysis required under this section for each securitization
exposure.
Disclosure Requirements
Section 217.124(a) permits a Board-regulated institution that merges with or acquires a
company that does not calculate its risk-based capital requirements using advanced systems to
use a standardized approach to determine the risk-weighted asset amounts for the merged or
acquired company’s exposures. A Board-regulated institution that takes advantage of this
provision must disclose publicly the amounts of risk-weighted assets and qualifying capital using
6
advance approaches for the acquiring Board-regulated institution and standard approaches for the
acquired company.
Section 217.142, which outlines the capital treatment for securitization exposures,
requires that an advanced approaches Board-regulated institution that provides support to a
securitization in excess of the Board-regulated institution’s contractual obligation to provide
credit support to the securitization disclose publicly that it has provided such implicit support to
the securitization, as well as the regulatory capital impact to the institution of providing such
implicit support.
Section 217.172 specifies that each advanced approaches Board-regulated institution
must publicly disclose its total and tier 1 risk-based capital ratios and their components.
Section 217.173 requires an advanced approaches Board-regulated institution to make the
qualitative and quantitative disclosures described in Tables 1 through 12. The institution must
make these disclosures publicly available for each of the last three years (that is, twelve quarters)
or such shorter period beginning on January 1, 2014. Table 2 to section 217.173 addresses
disclosures related to capital structure; Table 3 to section 217.173 addresses disclosures related
to capital adequacy; Table 4 to section 217.173 addresses disclosures related to capital
conservation and countercyclical capital buffers; Table 5 to section 217.173 addresses general
disclosures related to credit risk; Table 9 to section 217.173 addresses disclosures related to
securitizations; Table 12 to section 217.173 addresses disclosures related to interest rate risk for
non-trading activities; and Table 13 to section 217.173 addresses disclosures related to
supplementary leverage ratios.
Respondent Panel
The FR Q panel comprises SMBs, certain BHCs, U.S. IHCs, and certain covered
SLHCs.5
Frequency
The FR Q is submitted, retained, and disclosed annually and quarterly.
Revisions to the FR Q
The Board revised the FR Q to account for a reporting provision in section
217.37(c)(4)(i)(E) of Regulation Q and a disclosure provision in section 217.124(a) of
Regulation Q, which have not been previously cleared by the Board under the PRA.
Section 217.37 of Regulation Q relates to when a Board-regulated institution may
recognize the credit risk mitigation benefits of financial collateral that secures a transaction. With
the prior written approval of the Board, a Board-regulated institution may calculate haircuts
using its own internal estimates of the volatilities of market prices and foreign exchange rates. A
Board-regulated institution must have policies and procedures that describe how it determines
5
See footnote 2.
7
the period of significant financial stress used to calculate the Board-regulated institution's own
internal estimates for haircuts under this section and must be able to provide empirical support
for the period used. Section 217.37(c)(4)(i)(E) requires Board-regulated institutions to obtain the
prior approval of the Board for, and notify the Board if the Board-regulated institution makes any
material changes to, these policies and procedures.
Subpart E of Regulation Q requires a Board-regulated institution to have a rigorous
process for assessing its overall capital adequacy in relation to its risk profile and a
comprehensive strategy for maintaining an appropriate level of capital. Section 217.124(a)
permits a Board-regulated institution that merges with or acquires a company that does not
calculate its risk-based capital requirements using advanced systems to use a standardized
approach to determine the risk-weighted asset amounts for the merged or acquired company’s
exposures. A Board-regulated institution that takes advantage of this provision must disclose
publicly the amounts of risk-weighted assets and qualifying capital using advance approaches for
the acquiring Board-regulated institution and standard approaches for the acquired company.
Time Schedule for Information Collection
The reporting, recordkeeping, and disclosure requirements are ongoing or are required
annually or quarterly.
Public Availability of Data
No data that is collected pursuant to these reporting and recordkeeping requirements are
made available to the public.
Legal Status
Section 38 of the Federal Deposit Insurance Act (12 U.S.C. § 1831o) and section 908 of
the ILSA (12 U.S.C. § 3907(a)(1)) require each appropriate Federal banking agency to develop
capital standards and to ensure that banking institutions maintain adequate capital. The Board is
the appropriate Federal banking agency for SMBs, and thus, these provisions authorize the FR Q
with respect to SMBs (12 U.S.C. § 1813(q)). The FR Q is authorized for BHCs by section 5(b) of
the BHC Act, which authorizes the Board to “issue such regulations and orders, including
regulations and orders relating to the capital requirements for [BHCs], as may be necessary to
enable it to administer and carry out the purposes of this chapter and prevent evasions thereof”
(12 U.S.C. § 1844(b)). The FR Q is authorized for SLHCs by section 10(g) of the Home Owners’
Loan Act (HOLA), which states that “[t]he Board is authorized to issue such regulations and
orders, including regulations and orders relating to capital requirements for [SLHCs], as the
Board deems necessary or appropriate to enable the Board to administer and carry out the
purposes of this section, and to require compliance therewith and prevent evasions thereof”
(12 U.S.C. § 1467a(g)).
Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank Act), as amended by section 401 of the Economic Growth, Regulatory Relief, and
Consumer Protection Act, requires the Board to establish prudential standards for nonban k
8
financial companies supervised by the Board, as well as certain large BHCs supervised by the
Board, that are more stringent than the standards and requirements applicable to companies that
do not present similar risks to financial stability (12 U.S.C. § 5365). These include risk-based
capital requirements and leverage limits (12 U.S.C. § 5365(b)(1)(A)(i)).6 The Board has
required, pursuant to section 165(b)(1)(B)(iv) of the Dodd-Frank Act (12 U.S.C. §
5365(b)(1)(B)(iv)), certain foreign banking organizations subject to section 165 of the DoddFrank Act to form IHCs, and section 165 of the Dodd-Frank Act authorizes the FR Q with
regards to these IHCs.
The reporting requirements contained in the FR Q are also authorized by the Board’s
reporting authorities, which are contained in section 9(6) of the Federal Reserve Act for SMBs
(12 U.S.C. § 324), section 5(c) of the BHC Act for BHCs and their subsidiaries (12 U.S.C. §
1844(c)), and section 10(b)(2) of HOLA for SLHCs (12 U.S.C. § 1467a(b)(2)). Additionally,
with respect to SMBs, the reporting requirements contained in the FR Q are authorized by
section 11(a) of the Federal Reserve Act, which authorizes the Board to “require such statements
and reports as it may deem necessary” from member banks (12 U.S.C. § 248(a)). The
information collections associated with the FR Q are mandatory.
The disclosure requirements in Regulation Q must be made publicly and therefore are
generally not confidential. If a Board-regulated institution described in section 217.61 of
Regulation Q concludes that specific commercial or financial information that it would otherwise
be required to disclose under sections 217.62 or 217.63 of Regulation Q would be exempt from
disclosure by the Board under the Freedom of Information Act (FOIA) (5 U.S.C. § 552), then the
Board-regulated institution is not required to disclose that specific information, but must disclose
more general information about the subject matter of the requirement, together with the fact that,
and the reason why, the specific items of information have not been disclosed.
The information submitted pursuant to the reporting requirements in Regulation Q is
likely to be nonpublic commercial or financial information, which is both customarily and
actually treated as private by the respondent, and therefore eligible for confidential treatment
pursuant to exemption 4 of FOIA (5 U.S.C. § 552(b)(4)).
Because the information required to be retained pursuant to the recordkeeping
requirements in Regulation Q is not routinely reported to the Board, it would likely only come
into the Board’s possession through the supervisory process. Under these circumstances,
information collected under the recordkeeping requirements would be eligible for confidential
treatment pursuant to exemption 8 of FOIA, which protects information contained in or related to
examination, operating, or condition reports prepared by, on behalf of, or for the use of an
agency responsible for the regulation or supervision of financial institutions (5 U.S.C. §
552(b)(8)). Additionally, information retained pursuant to these requirements may be nonpublic
commercial or financial information, which is both customarily and actually treated as private by
the respondent, and therefore may be eligible for confidential treatment pursuant to exemption 4
of FOIA (5 U.S.C. § 552(b)(4)).
6
See 12 U.S.C. § 5371.
9
Consultation Outside the Agency
The Board worked with the FDIC and OCC to confirm the burden estimates for this
renewal.
Public Comments
On November 4, 2022, the Board published an initial notice in the Federal Register (87
FR 66701) requesting public comment for 60 days on the extension, with revision, of the FR Q.
The comment period for this notice expired on January 3, 2023. The Board did not receive any
comments. The Board adopted the extension, with revision, of the FR Q as originally proposed.
On March 1, 2023, the Board published a final notice in the Federal Register (88 FR 12933).
Estimate of Respondent Burden
As shown in the table below, the estimated total annual burden for the FR Q is 76,216
hours, and would increase to 76,250 hours with the revisions. These reporting, recordkeeping,
and disclosure requirements represent approximately 1.10 percent of the Board’s total paperwork
burden.
FR Q
Current
Initial Setup
Standardized Approach
Recordkeeping
Sections 217.35(b)(3)(i)(A),
217.37(c)(4)(i)(E),
217.41(b)(3), and
217.41(c)(2)(i)
Disclosure
Sections 217.42(e)(2), 217.62,
and 217.63
Advanced Approach
Reporting
Sections 217.132(b)(2)(iii)(A)
and 217.132(d)(2)(iv)
Recordkeeping
Estimated
number of
respondents7
Estimated
annual
frequency
Estimated
average hours
per response
1
1
122
122
1
1
226.25
226
1
1
160
160
7
Estimated
annual burden
hours
Of these respondents, 434 of the 1,055 respondents are considered small entities as defined by the Small Business
Administration (i.e., entities with less than $850 million in total assets), https://www.sba.gov/document/supporttable-size-standards. Regulation Q mitigates impact on small institutions by exempting less than $3 billion BHCs
and SLHCs.
10
Sections 217.132(d)(3)(vi),
217.132(d)(3)(viii),
217.132(d)(3)(ix),
217.132(d)(3)(x),
217.132(d)(3)(xi),
217.141(b)(3), 217.141(c)(1),
217.141(c)(2)(i)-(ii), and
217.153
Disclosure
Section 217.173 Tables 2, 3, 4,
5, 9, and 12
Current Initial Setup Total
Ongoing
Minimum Capital Ratios
Recordkeeping
Section 217.3(d)
Standardized Approach
Recordkeeping
Sections 217.35(b)(3)(i)(A),
217.37(c)(4)(i)(E), and
217.41(c)(2)(ii)
Disclosure
Sections 217.42(e)(2), 217.62,
and 217.63
Advanced Approach
Reporting
Sections 217.123, 217.124,
217.132(b)(2)(iii)(A),
217.132(b)(3), 217.132(d)(1),
217.132(d)(1)(iii), and
217.132(d)(2)(iv)
Recordkeeping
Sections 217.121(b), 217.122,
217.132(d)(3)(ix), and
217.132(d)(3)(xi)
Sections 217.132(d)(3)(viii)
and 217.141(c)(2)(i)-(ii)
Disclosure
Sections 217.142 and 217.172
Sections 217.173 Tables 2, 3,
4, 5, 9, and 12
Section 217.173 Table 13
Risk-based Capital Surcharge
for GSIBs
Recordkeeping
1
1
300
300
1
1
328
328
1,136
1,055
1
16
16,880
1,055
1
20
21,100
38
4
131.25
19,950
21
1
111.77
2,347
21
1
429
9,009
21
4
20
1,680
21
1
21
27
4
4
11
5.78
41
5
121
3,444
540
Sections 217.402 and 217.403
Current Ongoing Total
18
1
0.5
Current Total
Proposed
Initial Setup
Standardized Approach
Recordkeeping
Sections 217.35(b)(3)(i)(A),
217.37(c)(4)(i)(E),
217.41(b)(3), and
217.41(c)(2)(i)
Disclosure
Sections 217.42(e)(2), 217.62,
and 217.63
Advanced Approach
Reporting
Sections 217.132(b)(2)(iii)(A),
217.132(d)(2)(iv), and 217.153
Recordkeeping
Sections 217.132(d)(3)(vi),
217.132(d)(3)(viii),
217.132(d)(3)(ix),
217.132(d)(3)(x),
217.132(d)(3)(xi),
217.141(b)(3), 217.141(c)(1),
and 217.141(c)(2)(i)-(ii)
Disclosure
Section 217.173 Tables 2, 3, 4,
5, 9, and 12
Proposed Initial Setup Total
Ongoing
Minimum Capital Ratios
Recordkeeping
Section 217.3(d)
Standardized Approach
Reporting
Section 217.37(c)(4)(i)(E)
Recordkeeping
Sections 217.35(b)(3)(i)(A),
217.37(c)(4)(i)(E), and
217.41(c)(2)(ii)
Disclosure
9
75,080
76,216
1
1
122
122
1
1
226.25
226
1
1
161
161
1
1
299
299
1
1
328
328
1,136
1,055
1
16
16,880
1
1
1
1
1,055
1
20
21,100
12
Sections 217.42(e)(2), 217.62,
and 217.63
Advanced Approach
Reporting
Sections 217.123, 217.124,
217.132(b)(2)(iii)(A),
217.132(b)(3), 217.132(d)(1),
217.132(d)(1)(iii), and
217.132(d)(2)(iv)
Recordkeeping
Sections 217.121(b), 217.122,
217.132(d)(3)(ix), and
217.132(d)(3)(xi)
Sections 217.132(d)(3)(viii)
and 217.141(c)(2)(i)-(ii)
Disclosure
Sections 217.142 and 217.172
Sections 217.124(a) and
217.173 Tables 2, 3, 4, 5, 9,
and 12
Section 217.173 Table 13
Proposed Ongoing Total
38
4
131.25
19,950
21
1
111.77
2,347
21
1
429
9,009
21
4
20
1,680
21
1
21
27
4
4
5.78
41.5
5
121
3,486
540
75,114
Proposed Total
76,250
Change
34
The estimated total annual cost to the public for the FR Q is $4,607,257, and would
increase to $4,609,313 with the revisions.8
Sensitive Questions
This collection of information contains no questions of a sensitive nature, as defined by
OMB guidelines.
Estimate of Cost to the Federal Reserve System
The estimated cost to the Federal Reserve System is negligible.
8
Total cost to the public was estimated using the following formula: percent of staff time, multiplied by annual
burden hours, multiplied by hourly rates (30% Office & Administrative Support at $21, 45% Financial Managers at
$74, 15% Lawyers at $71, and 10% Chief Executives at $102). Hourly rates for each occupational group are the
(rounded) mean hourly wages from the Bureau of Labor Statistics (BLS), Occupational Employment and Wages,
May 2021, published March 31, 2022, https://www.bls.gov/news.release/ocwage.t01.htm. Occupations are defined
using the BLS Standard Occupational Classification System, https://www.bls.gov/soc/.
13
| File Type | application/pdf |
| File Modified | 2023-03-24 |
| File Created | 2023-03-24 |