Frww_20240430

Supporting Statement for the
Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation WW
(FR WW; OMB No. 7100-0367)
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 WW (FR WW; OMB No. 7100-0367). 1 The Board, Federal Deposit Insurance
Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively, the
agencies) implemented a liquidity coverage ratio (LCR) requirement and a net stable funding
ratio (NSFR) requirement, consistent with the international liquidity standards published by the
Basel Committee on Banking Supervision (BCBS), for large and internationally active banking
organizations. 2 For the Board, these standards are implemented through Regulation WW –
Liquidity Risk Measurement, Standards, and Monitoring (12 CFR Part 249). The NSFR and
LCR requirements in Regulation WW apply to certain large state member banks, covered
depository institution holding companies, 3 and U.S. intermediate holding companies of foreign
banking organizations, as well as covered nonbank companies (together, covered companies). 4
The reporting, recordkeeping, and disclosure requirements contained in FR WW are used to
monitor covered companies’ compliance with the LCR and NSFR.
The Board revised the FR WW to account for three recordkeeping requirements in
Regulation WW, contained in section 249.4(a) and section 249.22(a)(1) and (a)(4), which had
not been previously cleared by the Board under the Paperwork Reduction Act (PRA).
The current estimated total annual burden for the FR WW is 2,929 hours and decreased to
2,483 hours. The adopted revisions resulted in a decrease of 446 hours.

Background and Justification
There is no formal reporting form for this collection of information (the FR WW designation is for internal
purposes only).
2
The standards published by the BCBS are not legally binding on participating member countries or their regulated
banking organizations unless and until such standards are adopted into a member country’s law or regulation.
3
Covered depository institution holding companies include top-tier bank holding companies and savings and loan
holding companies, with certain exceptions. See 12 CFR 249.3 (defining “covered depository institution holding
company”).
4
A covered nonbank company means a company that the Financial Stability Oversight Council has determined
under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (12
U.S.C. § 5323) shall be supervised by the Board of Governors of the Federal Reserve System and for which such
determination is still in effect and for which the Board has required by separate rule or order to comply with the
requirements of Regulation WW. 12 CFR 249.3. Generally, a company (except a covered nonbank company) is
subject to Regulation WW only if it has $100 billion or more in total consolidated assets, subject to certain caveats
applying to Category IV firms, or is a state member bank subsidiary of a company of a qualifying size and/or has
assets of its own above a certain threshold. Under section 249.1(b)(iii), the Board may also apply Regulation WW to
other Board-regulated institutions in certain cases. For more detail regarding the scope of Regulation WW, see 12
CFR 249.1(b).
1

The 2007-2008 financial crisis demonstrated significant weaknesses in the liquidity
positions of banking organizations, many of which experienced difficulty meeting their
obligations due to a breakdown of the funding markets. Banking organizations’ failure to
adequately address these challenges was in part due to lapses in basic liquidity risk management
practices. In order to strengthen liquidity and promote a more resilient financial sector in
implementing countries by improving the banking sector’s ability to absorb shocks arising from
financial and economic stress, the BCBS endorsed certain international standards for liquidity
risk management and the agencies implemented these standards in the United States in the form
of the LCR and NSFR requirements.
Under the LCR, each institution is required to hold high-quality liquid assets (HQLA)
such as central bank reserves and certain government and corporate debt that can be converted
easily and quickly into cash in an amount equal to or greater than its projected cash outflows
minus its projected cash inflows during a 30-day stress period, as calculated under the rule. The
NSFR establishes a quantitative metric to measure the stability of the funding profile of certain
large banking organizations and requires these banking organizations to maintain minimum
amounts of stable funding to support their assets, commitments, and derivatives exposures over a
one-year time horizon. The LCR focuses on short-term liquidity risks and benefits the financial
system as a whole by improving the ability of covered companies to absorb potential market and
liquidity shocks in a severe stress scenario over a short term. The NSFR is designed to reduce the
likelihood that disruptions to a banking organization’s regular sources of funding will
compromise its liquidity position, promote effective liquidity risk management, and support the
ability of banking organizations to provide financial intermediation to businesses and households
across a range of market conditions.
The Board’s LCR and NSFR regulations are set forth in Regulation WW. The reporting,
recordkeeping, and disclosure requirements in Regulation WW that make up FR WW are used to
monitor covered companies’ compliance with the LCR and NSFR. This information is not
available from other sources.
Description of Information Collection
The reporting, recordkeeping, and disclosure requirements in Regulation WW are found
in sections 249.4, 249.22, 249.40, 249.90, 249.91, 249.109, 5 249.110, 249.130, and 249.131.
Reporting Requirements
LCR Reporting Requirements
Section 249.40(a) requires a covered company to notify the Board on any business day
when its LCR is calculated to be less than the minimum requirement set by section 249.10.
Section 249.40(b) requires that if an institution is required to calculate its LCR on the last
The previous version of this Supporting Statement erroneously referred to 12 CFR 249.108(b), when it should have
referenced 12 CFR 249.109(b). This error has been corrected in this updated version. The substance of the
requirements described is unchanged.

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2

business day of each calendar month and its LCR is below the minimum requirement in section
249.10 on the last business day of a calendar month or if the Board has determined that the
institution is otherwise materially noncompliant, then the institution must promptly consult with
the Board to determine whether the institution must provide to the Board a liquidity plan for
achieving compliance. In addition, section 249.40(b) requires that if an institution is required to
calculate its LCR every business day and its LCR is below the minimum requirement in section
249.1 for three consecutive business days or if the Board has determined that the institution is
otherwise materially noncompliant, the institution must promptly provide a liquidity plan to the
Board. The liquidity plan must include, as applicable, (1) an assessment of the institution’s
liquidity position; (2) the actions the institution has taken and will take to achieve full
compliance, including a plan for adjusting the institution’s risk profile, risk management, and
funding sources in order to achieve full compliance and a plan for remediating any operational or
management issues that contributed to noncompliance; (3) an estimated timeframe for achieving
full compliance; and (4) a commitment to provide a progress report to the Board at least weekly
until full compliance is achieved.
NSFR Reporting Requirements
Section 249.110 requires a covered company to take certain actions following any NSFR
shortfall. Section 249.110(a) requires a covered company to notify the Board of the shortfall no
later than 10 business days (or such other period as the Board may otherwise require by written
notice) following the date that any event has occurred that would cause or has caused the covered
company’s NSFR to be less than 1.0. Section 249.110(b) requires a covered company to submit
to the Board, within 10 business days of certain triggering events (or such other period as the
Board may otherwise require by written notice), its plan for remediation of its NSFR to at least
1.0. Specifically, this submission is required if the covered company has or should have provided
notice to the Board that its NSFR is or will become less than 1.0, the covered company’s reports
or disclosures to the Board indicate the NSFR is less than 1.0, or the Board notifies the covered
company that a plan is required and the reason such plan is required. Section 249.110(b) also
requires a covered company that has submitted such a plan to submit at least monthly, or such
other frequency as required by the Board, a report on its progress to achieve compliance.
The NSFR remediation plan must include, as applicable, (1) an assessment of the covered
company’s liquidity profile; (2) the actions the covered company has taken and will take to
achieve a NSFR equal to or greater than 1.0, as required under section 249.100, including (a) a
plan for adjusting the covered company’s liquidity profile, and (b) a plan for remediating any
operational or management issues that contributed to noncompliance with the NSFR
requirement; and (3) an estimated timeline for achieving full compliance with section 249.100.
Recordkeeping Requirements
Section 249.4(a)(1) requires that in order for a covered company to recognize an
agreement as a qualified master netting agreement for the purposes of section 249.3, the covered
company must conduct a sufficient legal review to conclude with a well-founded basis (and
maintain sufficient written documentation of that legal review) that: (i) the agreements meets the
definition of qualifying master netting agreement under section 249.3, and (ii) in the event of

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legal challenge, the relevant judicial and administrative authorities would find the agreement to
be legal, valid, binding, and enforceable under the law of the relevant jurisdictions. Section
249.4(a)(2) also requires that the covered company establish and maintain written procedures to
monitor possible changes in relevant law and to ensure that the agreement continues to satisfy
the requirements of the definition of qualifying master netting agreement under section 249.3.
Section 249.22(a)(1) requires that a covered company demonstrate its operational
capacity to monetize its HQLA by implementing and maintaining procedures and systems to
monetize any HQLA at any time in accordance with relevant standard settlement periods and
procedures and periodically monetizing a sample of the HQLA that reflects the composition of
the covered company’s eligible HQLA. Section 249.22(a)(2) requires that, with respect to each
asset eligible for inclusion in a covered company’s HQLA amount, the covered company must
implement policies that require the eligible HQLA to be under the control of the management
function in the covered company responsible for managing liquidity risk. The management
function must evidence its control over the HQLA by segregating the HQLA from other assets,
with the sole intent to use the HQLA as a source of liquidity, or demonstrating the ability to
monetize the assets and making the proceeds available to the liquidity management function
without conflicting with a business or risk management strategy of the covered company. Section
249.22(a)(4) requires that the covered company implement and maintain policies and procedures
that determine the composition of its eligible HQLA on each calculation date, according to
certain required steps. In addition, section 249.22(a)(5) requires that a covered company have a
documented methodology that results in a consistent treatment for determining that the covered
company’s eligible HQLA meet the requirements of section 249.22.
Section 249.109(b) requires that, to the extent a covered company includes in its own
available stable funding (ASF) the stable funding of a consolidated subsidiary, the covered
company must implement and maintain written procedures to identify and monitor applicable
statutory, regulatory, contractual, supervisory, or other restrictions on transferring assets from
any of its consolidated subsidiaries. These procedures must document which types of
transactions the covered company could use to transfer assets from a consolidated subsidiary to
the covered company and how these types of transactions comply with applicable statutory,
regulatory, contractual, supervisory, or other restrictions.
Disclosure Requirements
LCR Disclosure Requirements
Section 249.90 requires that a covered depository institution holding company, U.S.
intermediate holding company, or covered nonbank company (together, covered holding and
nonbank companies) provide timely public disclosures regarding the LCR requirement each
calendar quarter, which must include of all the information required under section 249.91. A
covered holding or nonbank company must provide the required disclosures beginning with the
first calendar quarter that includes the date that is 18 months after the covered holding or
nonbank company first became subject to subpart J of section 249. 6 A covered holding or
nonbank company must disclose publicly, in a direct and prominent manner, the required
6

Except as provided by sections 249.50(c)(1) and (2).

4

information on its public internet site or in its public financial or other public regulatory reports.
The disclosures must remain publicly available for at least five years after the initial disclosure
date.
Section 249.91 requires a covered holding or nonbank company to publicly disclose
information about certain components of its LCR calculation in a standardized format (Table 1 to
249.91(a) Disclosure Template). A covered holding or nonbank company must disclose both
average unweighted amounts and average weighted amounts for the covered company’s HQLA,
cash outflow amounts, and cash inflow amounts. A covered holding or nonbank company is
required to calculate all disclosed amounts on a consolidated basis and express the results in
millions of U.S. dollars or as a percentage, as applicable. A covered holding or nonbank
company is also generally required to calculate all disclosed amounts as simple averages of the
components used to calculate its daily LCR over a calendar quarter.
In addition, section 249.91 requires a covered holding or nonbank company to provide a
qualitative discussion of factors that have a significant effect on its LCR. A covered holding or
nonbank company’s qualitative discussion may include: (1) the main drivers of the LCR, (2)
changes in the LCR over time and causes of such changes, (3) the composition of eligible
HQLA, (4) concentration of funding sources, (5) derivative exposures and potential collateral
calls, (6) currency mismatch in the LCR, and (7) the covered holding or nonbank company’s
centralized liquidity management function and its interaction with other functional areas of the
covered company. If the covered holding or nonbank company believes that this qualitative
discussion would seriously prejudice its position by resulting in public disclosure of specific
commercial or financial information that is either proprietary or confidential in nature, the
covered holding or nonbank company is not required include those specific items in its
qualitative discussion, but must provide more general information about the items that had a
significant effect on its LCR, together with the fact that, and the reason why, more specific
information was not discussed.
NSFR Disclosure Requirements
Section 249.130 requires that a covered holding or nonbank company publicly disclose in
the second and fourth calendar quarter of each year the information regarding the NSFR, as
specified by section 249.131, calculated for each of the two immediately preceding calendar
quarters.
A covered holding or nonbank company must provide the required disclosures regarding
the NSFR beginning with the first calendar quarter that includes the date that is 18 months after
the covered holding or nonbank company first became subject to the minimum stable funding
requirement in section 249.100. A covered holding or nonbank company must disclose publicly,
in a direct and prominent manner, the required information on its public internet site or in its
public financial or other public regulatory reports. These disclosures must remain publicly
available for at least five years after the initial disclosure date.
Section 249.131 requires a covered holding or nonbank company to publicly disclose
information about certain components of its NSFR calculation in a standardized format (Table 1

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to 249.131(a) Disclosure Template). A covered holding or nonbank company must disclose both
average unweighted amounts (grouped according to maturity) and average weighted amounts of:
(1) ASF items, including capital and securities, retail funding, and wholesale funding, along with
other liabilities; and (2) required stable funding (RSF) items, including total HQLA, certain zero
percent RSF assets, operational deposits placed at financial sector entities, loans and securities,
and undrawn commitments. A covered holding or nonbank company must calculate its disclosed
amounts on a consolidated basis, in millions of U.S. dollars or as a percentage, as applicable, and
as simple averages of daily amounts for each calendar year.
In addition, section 249.131 requires a covered holding or nonbank company to provide a
qualitative discussion of factors that have a significant effect on its NSFR. A covered holding or
nonbank company’s qualitative discussion may include: (1) the main drivers of the NSFR, (2)
changes in the NSFR over time and causes of such changes, (3) concentrations of funding
sources and changes in funding structure, and (4) concentrations of ASF and RSF within a
covered company’s corporate structure. If the covered holding or nonbank company believes that
this qualitative discussion would seriously prejudice its position by resulting in public disclosure
of specific commercial or financial information that is either proprietary or confidential in nature,
the covered holding or nonbank company is not required include those specific items in its
qualitative discussion, but must provide more general information about the items that had a
significant effect on its LCR, together with the fact that, and the reason why, more specific
information was not discussed.
Respondent Panel
The FR WW panel comprises covered companies, as defined above. Certain
requirements apply only to covered holding and nonbank companies, as defined above.
Frequency and Time Schedule
The reporting requirements of the FR WW information collection are submitted on an
event-generated basis. The recordkeeping requirements of the FR WW information collection are
both event-generated and ongoing. The disclosure requirements of the FR WW information
collection must be met on a quarterly basis (relating to the LCR) as well as every second and
fourth calendar quarter (relating to the NSFR) and must remain publicly available for at least five
years after the initial disclosure date.
Adopted Revisions to the FR WW
The Board revised the FR WW information collection to account for three recordkeeping
requirements in Regulation WW, contained in section 249.4(a) and section 249.22(a)(1) and
(a)(4), which had not been previously cleared by the Board under the Paperwork Reduction Act.
As discussed above, section 249.4(a) requires covered companies to produce and maintain
certain records that document the compliance of their qualifying master netting agreement with
the requirements of section 249.3, and that establish and document procedures for ensuring that
these agreements remain compliant with the requirement of the regulation. In addition, as also
discussed above, section 249.22(a)(1) requires covered companies to demonstrate their capacity

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to monetize HQLA by implementing and maintaining procedures and systems to monetize any
HQLA at any time in accordance with relevant settlement periods and procedures and
periodically demonstrating its ability to monetize HQLA accordingly. Moreover, section
249.22(a)(4) requires that the covered company implement and maintain policies and procedures
that determine the composition of its eligible HQLA on each calculation date, according to
certain required steps.
Public Availability of Data
As discussed above and in the Legal Status section below, this information collection
requires certain covered companies to make public disclosures of certain data related to the LCR
on a quarterly basis and certain data related to the NSFR every second and fourth calendar
quarter. These disclosures must remain publicly available for at least five years after the initial
disclosure date. The data that firms report under the reporting requirements are generally not
made publicly available. The information involved in the recordkeeping requirements is also
generally not made publicly available.
Legal Status
The FR WW is authorized pursuant to section 5 of the Bank Holding Company Act (12
U.S.C. § 1844); sections 9 and 11 of the Federal Reserve Act (12 U.S.C. §§ 248, 324, and 334);
section 10 of the Home Owners Loan Act (12 U.S.C. § 1467a); and sections 165, 166, and 168 of
the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. §§ 5365, 5366,
5368) (Dodd-Frank Act).
Section 5(b) of the Bank Holding Company Act authorizes the Board to issue such
regulations and orders as may be necessary to enable it to administer and effectively carry out the
purposes of the Act, while section 5(c) of the Bank Holding Company Act authorizes the Board
to require bank holding companies to submit reports to the Board regarding their financial
condition.
Section 9 of the Federal Reserve Act requires member banks to file reports of condition
to the Federal Reserve Bank of which they become a member. These reports of condition are
required to be “in such form and … [to] contain such information as the Board … may require.”
Section 9 of the Federal Reserve Act also requires member banks to make reports regarding
nonbank affiliates that “contain such information as in the judgment of the Board … shall be
necessary to disclose fully the relations between such affiliate and such bank and to enable the
Board to inform itself as to the effect of such relations upon the affairs of such bank.” Section 11
of the Federal Reserve Act authorizes the Board to require of member banks “such statements
and reports as it may deem necessary.”
Section 10 of the Home Owners Loan Act requires a savings and loan holding company
to file “such reports as may be required by the Board” and provides that such reports “shall
contain such information concerning the operations of such savings and loan holding company
and its subsidiaries as the Board may require.”

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Section 165 of the Dodd-Frank Act requires the Board to establish prudential standards
for large bank holding companies and certain nonbank companies supervised by the Board; these
standards include liquidity requirements. Section 166 of the Dodd-Frank Act requires that the
Board, in consultation with the Financial Stability Oversight Council and FDIC, establish
regulations to provide for the early remediation of financial distress of bank holding companies
and certain nonbank companies supervised by the Board, which may involve requiring certain
reporting and recordkeeping from the companies. Section 168 of the Dodd-Frank Act authorizes
the Board to issue regulations to implement certain of the statute’s provisions, including sections
165 and 166.
The obligation to respond is mandatory, as authorized by the statutory provisions
described in the discussion of legal authorization.
FR WW contains reporting requirements, recordkeeping requirements, and disclosure
requirements, each of which correspond to a distinct confidentiality status.
Reporting Requirements
FR WW contains two types of reporting requirements, those related to the LCR and those
related to the NSFR. In each case, the reporting requirements involve notifying the Board of
shortfalls of the LCR and NSFR and, in certain circumstances, providing the Board with a
liquidity or remediation plan, respectively, to address any shortcomings. As discussed further
below, covered depository institution holding companies, U.S. intermediate holding companies,
and covered nonbank companies (together, covered holding and nonbank companies) are
required to make public disclosures about the level and calculation of their LCR and NSFR. 7
However, the remediation plans are not required to be made public. Moreover, covered
companies that are not covered holding and nonbank companies (i.e., state member banks) are
not required to make public disclosures about the level and calculation of their LCR and NSFR,
and so the shortfall notifications made to the Board do not contain information otherwise
available to the public. The remediation plans for this subset of covered companies are also not
required to be made public.
Although covered holding and nonbank companies are required to make public
disclosures about the level and calculation of their LCR and NSFR, the disclosure standards
require firms to disclose only average numbers and do not require reporting of past shortfalls.
As a result, temporary shortfalls may not be reflected in public disclosures. To the extent that
notifications to the Board of particular shortfalls contain only information that is made available
to the public, the information would not be considered confidential and would not raise an issue
of confidentiality. However, to the extent that the notifications that firms make to the Board of
particular shortfalls contain information that is not available to the public at all or has not yet
been made available to the public, it would be considered confidential information. Moreover,
for state member banks, which are not required to make public disclosures about the level and
calculation of their LCR and NSFR, the shortfall reporting requirements are confidential
Publicly traded companies may also be required to make public disclosures regarding this information under
applicable securities law.

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information. This confidential information submitted by both groups of firms would be exempt
from disclosure pursuant to exemptions 4 and 8 of the Freedom of Information Act (FOIA). 8
Exemption 4 covers confidential commercial or financial information that is customarily
and actually treated as private by its owner and provided to the government under an assurance
of privacy. 9 To the extent a covered holding or nonbank company does customarily and actually
keep shortfall information not reflected in its public disclosures private and to the extent a state
member bank does customarily and actually keep information regarding its LCR and NSFR
shortfalls private, this information would be exempt from disclosure under exemption 4.
Exemption 8 covers matters 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. As documents related to the holding and
nonbank companies’ and state member banks’ condition reports prepared for the use of the
Board, an agency responsible for the regulation and supervision of financial institutions, the
shortfall notifications for state member banks would also be exempt from disclosure under
exemption 8.
As information that covered companies submit to the Board but do not disclose to the
public, the remediation plans would also be exempt from disclosure under exemptions 4 and 8 of
the FOIA. To the extent the firms do customarily and actually keep remediation plans private in
practice, this information would be exempt from disclosure under exemption 4. Moreover, as
documents related to the firms’ condition reports prepared for the use of the Board, the
remediation plans would also be exempt from disclosure under exemption 8.
Recordkeeping Requirements
FR WW also contains recordkeeping requirements. These requirements ensure that
covered companies maintain sufficient documentation, policies, and procedures related to
qualified master netting agreements, managing and monetizing HQLA, determining the
composition of HQLA, and managing and calculating ASF when such funding is held by
consolidated subsidiaries. These records are maintained at each covered company and are
generally not collected by the Board, so no issue of confidentiality usually arises in connection
with these requirements. However, in the event the Board obtained the records in connection
with an examination of a covered company, the records would be exempt from disclosure under
exemption 8, as documents related to the examination reports prepared by or for the use of the
Board, an agency responsible for the regulation or supervision of financial institutions.
Disclosure Requirements
FR WW’s disclosure provisions require covered holding and nonbank companies to make
public disclosures about the level and calculation of their LCR and NSFR, and significant factors
driving these ratios. These disclosures are made available to the public, so no issue of
confidentiality under the FOIA is raised in connection with the records.
8
9

5 U.S.C. §§ 552(b)(4), (b)(8), respectively.
See Food Marketing Institute v. Argus Leader Media, 139 S. Ct. 2356, 2364 (2019).

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Consultation Outside the Agency
The Board consulted with the FDIC and OCC with respect to the extension, with
revision, of this information collection.
Public Comments
On December 5, 2023, the Board published an initial notice in the Federal Register (88
FR 84328) requesting public comment for 60 days on the extension, with revision, of the FR
WW. The comment period for this notice expires on February 5, 2024. The Board did not receive
any comments. On April 26, 2024, the Board published a final notice in the Federal Register (89
FR 32430).
Estimate of Respondent Burden
As shown in the table below, the estimated total annual burden for the FR WW is 2,929
hours and would decrease to 2,483 hours with the adopted revisions. The burden estimate was
produced using the standard Board burden calculation methodology, which has caused some of
the estimated hours per response to change, leading to a net decrease in the total estimated
burden. These reporting, recordkeeping, and disclosure requirements represent less than 1
percent of the Board’s total paperwork burden.

FR WW
Current
Reporting
Sections 249.40(a) and
249.110(a)
Sections 249.40(b) and
249.110(b)
Sections 249.40(b)(3)(iv) and
249.110(b)
Recordkeeping
Sections 249.22(a)(2),
249.22(a)(5), and 249.109(b)
Sections 249.40(b) and
249.110(b)
Disclosure

Estimated
number of
respondents 10

Estimated
annual
frequency

Estimated
average hours
per response

Estimated
annual burden
hours

1

12

0.5

6

1

1

0.5

1

1

4

0.5

2

20

1

40

800

1

1

200

200

Of these respondents, none 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/support-table-size-standards.

10

10

Sections 249.90, 249.91,
249.130, and 249.131
Current Total
Adopted
Reporting
Sections 249.40(a) and
249.110(a)
Sections 249.40(b) and
249.110(b) 11
Sections 249.40(b)(3)(iv) and
249.110(b)
Recordkeeping
Sections 249.22(a) and
249.109(b)
Section 249.4(a)
Disclosure
Sections 249.90, 249.91,
249.130, and 249.131

20

4

24

1

12

0.5

6

1

1

44.5

45

1

4

0.5

2

20
20

1
1

25
0.5

500
10

20

4

24

1,920
2,929

1,920

Proposed Total

2,483

Change

(446)

The estimated total annual cost to the public for the FR WW is $204,591 and would
decrease to $173,438 with the adopted revisions. 12
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 for collecting and processing this
information collection is negligible.
The Board determined that the recordkeeping burden previously associated with Sections 249.40(b) and
249.110(b) was actually reporting burden and has recategorized it as such in the burden table.
12
Total cost to the responding public is estimated using the following formula: total burden hours, multiplied by the
cost of staffing, where the cost of staffing is calculated as a percent of time for each occupational group multiplied
by the group’s hourly rate and then summed (30% Office & Administrative Support at $23, 45% Financial
Managers at $84, 15% Lawyers at $85, and 10% Chief Executives at $124). Hourly rates for each occupational
group are the (rounded) mean hourly wages from the Bureau of Labor Statistics (BLS), Occupational Employment
and Wages, May 2023, published April 3, 2024 https://www.bls.gov/news.release/ocwage.t01.htm#. Occupations
are defined using the BLS Standard Occupational Classification System, https://www.bls.gov/soc/.
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