60-Day Federal Register Notice

FR1 -0178 Market Risk Capital Requirements 87 FR 25015 April 27 2022.pdf

Market Risk Capital Requirements

60-Day Federal Register Notice

OMB: 3064-0178

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Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices
visibility improvement in Federal Class
I areas in a multi-pollutant context.
DATES: The meeting will be held on June
2, 2022 starting at 9:30 a.m. and ending
at 12:00 p.m.
ADDRESSES: Crowne Plaza Princeton
Conference Center, 900 Scudders Mill
Road, Plainsboro, NJ 08536, (609) 936–
4200.
FOR FURTHER INFORMATION CONTACT: For
documents and press inquiries contact:
Ozone Transport Commission, 89 South
Street, Suite 602, Boston, MA 02111,
(617) 259–2005; email: ozone@
otcair.org; website: https://
www.otcair.org.
The Clean
Air Act Amendments of 1990 contain
Section 184 provisions for the Control of
Interstate Ozone Air Pollution. Section
184(a) establishes an Ozone Transport
Region (OTR), which is currently
comprised of the States of Connecticut,
Delaware, parts of Maine, Maryland,

SUPPLEMENTARY INFORMATION:

3 ...................

MEDIA .......................................................

4 ...................

MEDIA .......................................................

*

*
*
*
*
The meeting will be webcast with
open captioning at: www.fcc.gov/live.
Open captioning will be provided as
well as a text only version on the FCC
website. Other reasonable
accommodations for people with
disabilities are available upon request.
In your request, include a description of
the accommodation you will need and
a way we can contact you if we need
more information. Last minute requests
will be accepted but may be impossible
to fill. Send an email to: fcc504@fcc.gov
or call the Consumer & Governmental
Affairs Bureau at 202–418–0530.
Additional information concerning
this meeting may be obtained from the
Office of Media Relations, (202) 418–
0500. Audio/Video coverage of the
meeting will be broadcast live with
open captioning over the internet from
the FCC Live web page at www.fcc.gov/
live.
Marlene Dortch,
Secretary.
lotter on DSK11XQN23PROD with NOTICES1

Massachusetts, New Hampshire, New
Jersey, New York, Pennsylvania, Rhode
Island, Vermont, parts of Virginia, and
the District of Columbia. The purpose of
the OTC is to address ground-level
ozone formation, transport, and control
within the OTR.
The Mid-Atlantic/Northeast Visibility
Union (MANE–VU) was formed at in
2001 in response to EPA’s issuance of
the Regional Haze rule. MANE–VU’s
members include: Connecticut,
Delaware, the District of Columbia,
Maine, Maryland, Massachusetts, New
Hampshire, New Jersey, New York,
Pennsylvania, Rhode Island, Vermont,
the Penobscot Indian Nation, and the St.
Regis Mohawk Tribe, along with EPA
and Federal Land Managers.
Type of Meeting: Open.
Agenda: Copies of the final agenda
will be available from the OTC office
(617) 259–2005; by email: ozone@
otcair.org or via the OTC website at
https://www.otcair.org.

[FR Doc. 2022–09059 Filed 4–25–22; 11:15 am]
BILLING CODE 6712–01–P

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Dated: April 21, 2022.
David Cash,
Regional Administrator, EPA Region 1.
[FR Doc. 2022–08980 Filed 4–26–22; 8:45 am]
BILLING CODE 6560–50–P

FEDERAL COMMUNICATIONS
COMMISSION
[FR ID 83571]

Sunshine Act Meetings: Deletion of
Items From April 21, 2022 Open
Meeting
April 20, 2022.

The following items were released by
the Commission on April 19, 2022 and
deleted from the list of items scheduled
for consideration at the Thursday, April
21, 2022, Open Meeting. These items
were previously listed in the
Commission’s Sunshine Notice on
Thursday, April 14, 2022.

Title: Restricted Adjudicatory Matter.
Summary: The Commission will consider a restricted adjudicatory matter.
Title: Restricted Adjudicatory Matter.
Summary: The Commission will consider a restricted adjudicatory matter.

FEDERAL DEPOSIT INSURANCE
CORPORATION
[OMB No. 3064–0001; –0178]

Agency Information Collection
Activities: Proposed Collection
Renewal; Comment Request
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Notice and request for comment.
AGENCY:

The FDIC, as part of its
obligations under the Paperwork
Reduction Act of 1995 (PRA), invites the
general public and other Federal
agencies to take this opportunity to
comment on the renewal of the existing
information collections described below
(OMB Control No. 3064–0001 and
–0178).
DATES: Comments must be submitted on
or before June 27, 2022.
ADDRESSES: Interested parties are
invited to submit written comments to
the FDIC by any of the following
methods:
• Agency Website: https://
www.fdic.gov/resources/regulations/
federal-register-publications/.
• Email: comments@fdic.gov. Include
the name and number of the collection
in the subject line of the message.
• Mail: Manny Cabeza (202–898–
3767), Regulatory Counsel, MB–3128,
SUMMARY:

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Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.
• Hand Delivery: Comments may be
hand-delivered to the guard station at
the rear of the 17th Street NW building
(located on F Street NW), on business
days between 7:00 a.m. and 5:00 p.m.
All comments should refer to the
relevant OMB control number. A copy
of the comments may also be submitted
to the OMB desk officer for the FDIC:
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT:
Manny Cabeza, Regulatory Counsel,
202–898–3767, mcabeza@fdic.gov, MB–
3128, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal
to renew the following currently
approved collection of information:
1. Title: Interagency Charter and
Federal Deposit Insurance Application.
OMB Number: 3064–0001.
Form Number: 6200–05.
Affected Public: Banks or Savings
Associations wishing to become FDIC
insured depository institutions.
Burden Estimate:

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25016

Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices
SUMMARY OF ESTIMATED ANNUAL BURDEN
[OMB No. 3064–0001]
Type of burden
(obligation to respond)

Information collection description
Interagency Charter and Federal Deposit Insurance Application.

Frequency
of response

Reporting (Mandatory) ...

I

On Occasion

I

Number of
responses per
respondent

Number of
respondents

I

20

1

I

Hours per
response

I

Annual burden
(hours)

125

2,500

I

Source: FDIC.

lotter on DSK11XQN23PROD with NOTICES1

General Description of Collection: The
Federal Deposit Insurance Act requires
financial institutions to apply to the
FDIC to obtain deposit insurance. This
collection provides FDIC with the
information needed to evaluate the
applications.

There is no change in the method or
substance of the collection. The
decrease in burden hours is the result of
economic fluctuation. In particular, the
number of respondents has decreased
while the hours per response and
frequency of responses have remained
the same.

Estimated
number of
respondents

Estimated
number of
responses per
respondent

..........
..........
..........
..........
..........

1
1
1
1
1

1
1
1
1
1

40
16
16
8
24

40
16
16
8
24

Annual ..........
Annual ..........
Annual ..........
Semiannual ...

1
1
1
1

1
1
1
4

8
8
24
40

8
8
24
160

Quarterly .......
Quarterly .......

1
1

4
4

480
480

1,920
1,920

Recordkeeping ...............
Recordkeeping ...............

Quarterly .......
Periodically ...

1
1

4
100

8
2

32
200

Recordkeeping ...............
Third-Party Disclosure ....
Third-Party Disclosure ....

Annual ..........
Quarterly .......
Annual ..........

1
1
1

1
4
1

40
8
12

40
32
12

.........................................

.......................

....................

........................

....................

4,460

Frequency
of response

Information collection description

Type of burden

Identification of Trading Positions (IC–1) .........................
Trading and Hedging Strategies (IC–2) ............................
Active Management of Covered Positions (IC–3) ............
Prior Written Approval to Use Internal Models (IC–4) ......
Documentation of Internal Models and Other Activities
(IC–5).
Prior Approval for Certain Capital Standards (IC–6) ........
Demonstrate Appropriateness of Proxies (IC–7) ..............
Retention of Subportfolio Information (IC–8) ....................
Stressed VaR-based Measure Quantitative Requirements (IC–9).
Incremental Risk Modeling Prior Approval (IC–10) ..........
Comprehensive Risk Measurement Prior Approval (IC–
11).
Recordkeeping for Stress Tests (IC–12) ..........................
Demonstrate Understanding of Securitization Positions
and Performance (IC–13).
Disclosure Policy (IC–14) .................................................
Quantitative Market Risk Disclosures (IC–15) ..................
Qualitative Market Risk Disclosures (IC–16) ....................

Recordkeeping ...............
Recordkeeping ...............
Recordkeeping ...............
Reporting ........................
Recordkeeping ...............

Annual
Annual
Annual
Annual
Annual

Reporting ........................
Recordkeeping ...............
Recordkeeping ...............
Recordkeeping & Reporting.
Reporting ........................
Reporting ........................

Total Annual Burden Hours .......................................

General Description of Collection: The
FDIC’s market risk capital rules (12 CFR
part 324, subpart F) enhance risk
sensitivity, increase transparency
through enhanced disclosures and
include requirements for the public
disclosure of certain qualitative and
quantitative information about the
market risk of state nonmember banks
and state savings associations (covered
FDIC-supervised institutions). The
market risk rule applies only if a bank
holding company or bank has
aggregated trading assets and trading
liabilities equal to 10 percent or more of
quarter-end total assets or $1 billion or
more (covered FDIC-supervised
institutions). Currently, only one FDIC
regulated entity meets the criteria of the
information collection requirements that
are located at 12 CFR 324.203 through
324.212. The collection of information
is necessary to ensure capital adequacy
appropriate for the level of market risk.
Section 324.203(a)(1) requires covered

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FDIC-supervised institutions to have
clearly defined policies and procedures
for determining which trading assets
and trading liabilities are trading
positions and specifies the factors a
covered FDIC-supervised institution
must take into account in drafting those
policies and procedures. Section
324.203(a)(2) requires covered FDIC
supervised institutions to have clearly
defined trading and hedging strategies
for trading positions that are approved
by senior management and specifies
what the strategies must articulate.
Section 324.203(b)(1) requires covered
FDIC-supervised institutions to have
clearly defined policies and procedures
for actively managing all covered
positions and specifies the minimum
requirements for those policies and
procedures. Sections 324.203(c)(4)
through 324.203(c)(10) require the
annual review of internal models and
specify certain requirements for those
models. Section 324.203(d) requires the

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2. Title: Market Risk Capital
Requirements.
OMB Number: 3064–0178.
Form Number: None.
Affected Public: Insured state
nonmember banks and state savings
associations.
Burden Estimate:

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Estimated
time per
response
(hours)

Estimated
annual burden
(hours)

internal audit group of a covered FDIC
supervised institution to prepare an
annual report to the board of directors
on the effectiveness of controls
supporting the market risk measurement
systems. Section 324.204(b) requires
covered FDIC-supervised institutions to
conduct quarterly back testing. Section
324.205(a)(5) requires institutions to
demonstrate to the FDIC the
appropriateness of proxies used to
capture risks within value-at-risk
models. Section 324.205(c) requires
institutions to develop, retain, and make
available to the FDIC value-at-risk and
profit and loss information on sub
portfolios for two years. Section
324.206(b)(3) requires covered FDIC
supervised institutions to have policies
and procedures that describe how they
determine the period of significant
financial stress used to calculate the
institution’s stressed value-at-risk
models and to obtain prior FDIC
approval for any material changes to

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Federal Register / Vol. 87, No. 81 / Wednesday, April 27, 2022 / Notices
these policies and procedures. Section
324.207(b)(1) details requirements
applicable to a covered FDIC-supervised
institution when the covered FDICsupervised institution uses internal
models to measure the specific risk of
certain covered positions. Section
324.208 requires covered FDICsupervised institutions to obtain prior
written FDIC approval for including
equity positions in its incremental risk
modeling. Section 324.209(a) requires
prior FDIC approval for the use of a
comprehensive risk measure. Section
324.209(c)(2) requires covered FDICsupervised institutions to retain and
report the results of supervisory stress
testing. Section 324.210(f)(2)(i) requires
covered FDIC supervised institutions to
document an internal analysis of the
risk characteristics of each
securitization position in order to
demonstrate an understanding of the
position. Section 324.212 applies to
certain covered FDIC supervised
institutions that are not subsidiaries of
bank holding companies, and requires
quarterly quantitative disclosures,
annual qualitative disclosures, and a
formal disclosure policy approved by
the board of directors that addresses the
approach for determining the market
risk disclosures it makes.
Relative to the 2019 information
collection request (ICR), the set of
information collections (ICs) included
in the above burden estimates has been
revised. A detailed review of the 18 ICs
included in the 2019 ICR showed that
seven of the ICs appear inconsistent
with the requirements in subpart F or
potentially repeat other identified PRA
requirements in subpart F. Those seven
ICs have been deleted from the set of ICs
retained in this renewal.1 Additionally,
a detailed review of subpart F found five
provisions that require covered
institutions to conduct third-party
disclosure, recordkeeping, or reporting
and were not included in the 2019 ICR.
The PRA requirements of these five
provisions have been introduced as ICs
in the burden estimate above.2 Lastly, a
review of the 2019 Supporting
Statement for the Federal Reserve’s

lotter on DSK11XQN23PROD with NOTICES1

1 The

ICs deleted from the 2019 ICR are: IC 4—
Review of internal models; IC 5—Internal audit
report; IC 6—Backtesting adjustments to risk-based
capital ratio calculations; IC 10—Modeled specific
risk; IC 13—Requirements of stress testing; IC 14—
Securitization position; IC 17—Quantitative
disclosures for each portfolio of covered positions
(IC numbers refer to those in the 2019 ICR memo).
2 The newly-introduced ICs are: IC 4—Prior
approval to use internal models (324.203(c)(1)); IC
5—Documentation of internal models and other
activities (324.203(f)); IC 6—Prior approval for
certain capital standards (324.204(a)(2)(vi)(B)); IC
12—Recordkeeping for stress tests (324.209(c)(2));
and IC 13—Demonstrate understanding of
securitization positions (324.210(f)(1)).

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approved information collection (OMB
No. 7100–0314) for its Market Risk
Capital Requirements regulations (12
CFR 217 subpart F) shows that the OMB
No. 7100–0314 list of ICs corresponds
with the modified set of ICs in this
renewal, and would therefore promote
consistency among how the banking
agencies estimate the PRA burden for
the market risk capital rule.3
Request for Comment
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the information collection,
including the validity of the
methodology and assumptions used; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology. All comments will become
a matter of public record.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 21,
2022.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2022–08916 Filed 4–26–22; 8:45 am]
BILLING CODE 6714–01–P

FEDERAL MARITIME COMMISSION
Notice of Agreements Filed
The Commission hereby gives notice
of filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit
comments, relevant information, or
documents regarding the agreements to
the Secretary by email at Secretary@
fmc.gov, or by mail, Federal Maritime
Commission, 800 North Capitol Street,
Washington, DC 20573. Comments will
be most helpful to the Commission if
received within 12 days of the date this
notice appears in the Federal Register,
and the Commission requests that
comments be submitted within 7 days
on agreements that request expedited
review. Copies of agreements are
available through the Commission’s
website (www.fmc.gov) or by contacting
the Office of Agreements at (202)-523–
5793 or tradeanalysis@fmc.gov.
Agreement No.: 201382.
3 See https://www.reginfo.gov/public/do/
PRAOMBHistory?ombControlNumber=7100-0314.

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25017

Agreement Name: Volkswagen
Konzernlogistik GmbH & Co. OHG/EPS
Chartering (UK) Limited Space Charter
Agreement.
Parties: Volkswagen Konzernlogistik
GmbH & Co. OHG and EPS Chartering
(UK) Limited.
Filing Party: Ashley Craig; Venable
LLP.
Synopsis: The Agreement authorizes
the parties to charter space to each other
in the trades between the U.S. East and
Gulf Coasts, on one hand, and ports in
Mexico, Canada, and Germany, on the
other hand.
Proposed Effective Date: 4/14/2022.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/61515.
Agreement No.: 201383.
Agreement Name: Hyundai Glovis/
Liberty Space Charter Agreement.
Parties: Hyundai Glovis Co., Ltd. and
Liberty Global Logistics LLC.
Filing Party: Wayne Rohde; Cozen
O’Connor.
Synopsis: The Agreement authorizes
the parties to charter space to each other
in all U.S. trades.
Proposed Effective Date: 6/2/2022.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/61518.
Agreement No.: 201384.
Agreement Name: Hyundai Glovis/
Liberty Korea Space Charter Agreement.
Parties: Hyundai Glovis Co., Ltd. and
Liberty Global Logistics LLC.
Filing Party: Wayne Rohde; Cozen
O’Connor.
Synopsis: The Agreement authorizes
the parties to charter space to/from one
another in the trade between Korea and
the Pacific Coast of the United States.
Proposed Effective Date: 4/19/2022.
Location: https://www2.fmc.gov/
FMC.Agreements.Web/Public/
AgreementHistory/61516.
Dated: April 21, 2022.
William Cody,
Secretary.
[FR Doc. 2022–08917 Filed 4–26–22; 8:45 am]
BILLING CODE 6730–02–P

FEDERAL TRADE COMMISSION
[File No. 211 0131]

American Securities Partners/Ferro;
Analysis of Agreement Containing
Consent Orders To Aid Public
Comment
Federal Trade Commission.
Proposed consent agreement;
request for comment.

AGENCY:
ACTION:

The consent agreement in this
matter settles alleged violations of

SUMMARY:

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