View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0376
ICR Reference No:
201904-7100-009
Status:
Historical Active
Previous ICR Reference No:
Agency/Subagency:
FRS
Agency Tracking No:
FR 2510
Title:
Report of Institution-to-Aggregate Granular Data on Assets and Liabilities on an Immediate Counterparty Basis
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Delegated
OIRA Conclusion Action:
Approved without change
Conclusion Date:
04/30/2019
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/30/2019
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2022
36 Months From Approved
Responses
40
0
0
Time Burden (Hours)
26,176
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
The FR 2510 will collect granular exposure data on the assets, liabilities, and off-balance sheet holdings of U.S. G-SIBs, providing breakdowns by instrument, currency, maturity, and sector. The FR 2510 will also collect data covering detailed positions for each U.S. G-SIB’s top 35 countries of exposure, on an immediate-counterparty basis, as reported in the consolidated Country Exposure Report (FFIEC 009; OMB No. 7100-0035), broken out by instrument and counterparty sector, with limited further breakouts by remaining maturity, subject to a $2 billion minimum threshold for country exposure. Further, the FR 2510 will collect information on financial derivatives by instrument type and foreign exchange derivatives by currency. The FR 2510 will allow the Federal Reserve to conduct a more complete balance sheet analysis of U.S. G-SIBs. Additionally, the FR 2510 will provide the Federal Reserve with valuable systemic information through the collection of more granular data regarding common or correlated exposures and funding dependencies than is currently collected by existing reports by providing more information about U.S. G-SIBs’ consolidated exposures and funding positions to different countries according to instrument, counterparty sector, currency and remaining maturity.
Authorizing Statute(s):
US Code:
12 USC 1844
Name of Law: Bank Holding Company Act of 1956
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
83 FR 43680
08/27/2018
30-day Notice:
Federal Register Citation:
Citation Date:
84 FR 16487
04/19/2019
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
One-Time Implementation
FR 2510
Report of Institution-to-Aggregate Granular Data on Assets and Liabilities on an Immediate Counterparty Basis
Ongoing
FR 2510
Report of Institution-to-Aggregate Granular Data on Assets and Liabilities on an Immediate Counterparty Basis
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
40
0
0
40
0
0
Annual Time Burden (Hours)
26,176
0
0
26,176
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The estimated total annual burden for the FR 2510 is 26,176 hours. The estimated one-time implementation burden for respondents to prepare their systems for submitting the data is 1,000 hours per respondent, for a total of 8,000 hours. The estimated ongoing annual burden for this information collection is 568 hours per response, for a total of 18,176 hours annually. The estimated burden for completing Table 1 and Table 2 of the I–A IC Schedule is 85 hours and 469 hours, respectively. The estimated burden for completing the Financial Derivatives schedule is 4 hours. The estimated burden for completing the Foreign Exchange Derivatives Schedule is 10 hours.
Annual Cost to Federal Government:
$303,200
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
Yes
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Brenda Simms 202 475-6340 brenda.simms@frb.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/30/2019
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