FED is inviting comments on a proposal to extend for three years, without revision, the Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322). FR 3052 collects information from financial institutions specifically tailored to the supervisory, regulatory, and operational responsibilities of FED. Examples of past surveys include collected information related to regulatory capital, operational risk loss event history, and transactions by securities dealers. The frequency and content of the questions depend on changing economic, regulatory, supervisory, or legislative developments. Comments must be submitted on or before October 29, 2018.
The surveys would be conducted on a voluntary basis. The questions asked on each survey would vary, so the ability of FED to maintain the confidentiality of information collected would be determined on a case-by-case basis. Before conducting a survey, FED reviews any information to be collected to determine if the information is available by other means. Estimated number of respondents for this information collection is 5,000. Respondents include bank holding companies, state member banks, savings and loan holding companies, intermediate holding companies, U.S branches and agencies of foreign banking organizations (FBOs), edge and agreement corporations, nonbank financial companies that FSOC has determined should be supervised by FED, or the combined domestic operations of FBOs. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the Board should modify the proposal prior to giving final approval. Comments are invited on the following:
- Whether the proposed collection of information is necessary for the proper performance of the Board's functions; including whether the information has practical utility
- The accuracy of the FED estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used
- Ways to enhance the quality, utility, and clarity of the information to be collected
- Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology
- Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information
Comment Due Date: October 29, 2018
Keywords: Americas, US, Banking, FR 3052, Reporting, Supervisory and Regulatory Survey, FED
Previous ArticleCFTC Simplifies Rules on CCO Duties and Annual Compliance Reporting
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).