90 FR 62 pgs. 14444-14445 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Type: NOTICEVolume: 90Number: 62Pages: 14444 - 14445
Pages: 14444, 14445FR document: [FR Doc. 2025-05646 Filed 4-1-25; 8:45 am]
Agency: Federal Reserve System
Official PDF Version: PDF Version
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
AGENCY:
Board of Governors of the Federal Reserve System.
SUMMARY:
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Provisions Associated with the Guidance on Sound Incentive Compensation Policies (FR 4027; OMB No. 7100-0327).
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer-Nuha Elmaghrabi-Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, nuha.elmaghrabi@frb.gov, (202) 452-3884.
Office of Management and Budget (OMB) Desk Officer for the Federal Reserve Board, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
SUPPLEMENTARY INFORMATION:
On June 15, 1984, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. The OMB inventory, as well as copies of the PRA Submission, supporting statements (which contain more detailed information about the information collections and burden estimates than this notice), and approved collection of information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal Reserve Board's public website at https://www.federalreserve.gov/apps/reportingforms/review or may be requested from the agency clearance officer, whose name appears above. On the page displayed at the link above, you can find the supporting information by referencing the collection identifier, FR 4027.
Final Approval Under OMB Delegated Authority of the Extension for Three Years, Without Revision, of the Following Information Collection
Collection title: Recordkeeping Provisions Associated with the Guidance on Sound Incentive Compensation Policies.
Collection identifier: FR 4027.
OMB control number: 7100-0327.
General description of collection: The interagency Guidance on Sound Incentive Compensation Policies (the Guidance) is intended to assist banking organizations in designing and implementing incentive compensation arrangements that do not encourage imprudent risk-taking and that are consistent with the safety and soundness of the organization. The Guidance contains voluntary recordkeeping activities. With respect to organizations regulated by the Board, the voluntary Guidance applies to U.S. bank holding companies, savings and loan holding companies, state member banks, Edge and agreement corporations, and the U.S. operations of foreign banks with a branch, agency, or commercial lending company subsidiary in the United States (collectively, banking organizations).
Frequency: As needed.
[top] Respondents: Banking organizations, as defined above.
Total estimated number of respondents: 5,122.
Total estimated annual burden hours: 205,440.
Current actions: On October 29, 2024, the Board published a notice in the Federal Register (89 FR 85971) requesting public comment for 60 days on the extension, without revision, of the FR 4027. The comment period for this notice expired on December 30, 2024. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, March 28, 2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-05646 Filed 4-1-25; 8:45 am]
BILLING CODE 6210-01-P