43605Federal Register / Vol. 81, No. 128 / Tuesday, July 5, 2016 / Notices
same link. For optimal viewing, a high
speed internet connection is
recommended. The Community Banking
meeting videos are made available on-
demand approximately two weeks after
the event.
Federal Deposit Insurance Corporation.
Dated: June 29, 2016.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–15789 Filed 7–1–16; 8:45 am]
BILLING CODE 6714–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities: Comment
Request
AGENCY: Office of the Comptroller of the
Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint notice and request for
comment.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act (PRA) of 1995 (44 U.S.C.
chapter 35), the OCC, the Board, and the
FDIC (the agencies) may not conduct or
sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number. The agencies,
under the auspices of the Federal
Financial Institutions Examination
Council (FFIEC), have approved the
publication for public comment of a
proposal to revise and extend the
Market Risk Regulatory Report for
Institutions Subject to the Market Risk
Capital Rule (FFIEC 102), which is
currently an approved collection of
information for each agency. The
agencies propose to modify this
collection effective December 31, 2016,
to (1) have institutions provide their
Legal Entity Identifier (LEI) on the
reporting form, only if they already have
one, and (2) add U.S. Intermediate
Holding Companies (IHCs) to the
Board’s respondent panel.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the FFIEC and the
agencies should modify the proposed
revisions prior to giving final approval.
The agencies will then submit the
revisions to OMB for review and
approval.
DATES: Comments must be submitted on
or before September 6, 2016.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the OMB control
number, will be shared among the
agencies.
OCC: Because paper mail in the
Washington, DC, area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible, to prainfo@
occ.treas.gov. Alternatively, comments
may be sent to: Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency,
Attention: 1557–0325 (FFIEC 102), 400
7th Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219. In
addition, comments may be sent by fax
to (571) 465–4326.
You may personally inspect and
photocopy comments at the OCC, 400
7th Street SW., Washington, DC 20219.
For security reasons, the OCC requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 649–6700 or for persons
who are deaf or hard of hearing, TTY,
(202) 649–5597. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
include any information in your
comments or supporting materials that
you consider confidential or
inappropriate for public disclosure.
Board: You may submit comments,
which should refer to ‘‘FFIEC 102’’ by
any of the following methods:
• Agency Web site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/apps/
foia/ProposedRegs.aspx.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include reporting
form number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Robert DeV. Frierson,
Secretary, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at http://
www.federalreserve.gov/apps/foia/
ProposedRegs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room 3515, 1801 K Street
(between 18th and 19th Streets) NW.,
Washington, DC 20006, between 9:00
a.m. and 5:00 p.m. on weekdays.
FDIC: You may submit comments,
which should refer to ‘‘FFIEC 102,’’ by
any of the following methods:
• Agency Web site: http://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC Web site.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: comments@FDIC.gov.
Include ‘‘FFIEC 102’’ in the subject line
of the message.
• Mail: Manuel E. Cabeza, Counsel,
Room MB–3105, Attn: Comments,
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 550 17th Street Building
(located on F Street) on business days
between 7:00 a.m. and 5:00 p.m.
Public Inspection: All comments
received will be posted without change
to http://www.fdic.gov/regulations/laws/
federal/ including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
Additionally, commenters may send a
copy of their comments to the OMB
desk officer for the agencies by mail to
the Office of Information and Regulatory
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW.,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the FFIEC 102 discussed in
this notice, please contact any of the
agency clearance officers whose names
appear below. In addition, copies of the
FFIEC 102 reporting form and
instructions are available on the FFIEC’s
Web site (http://www.ffiec.gov/ffiec_
report_forms.htm).
OCC: Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490, or for persons
VerDate Sep<11>2014 17:27 Jul 01, 2016 Jkt 238001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1
sradovich on DSK3GDR082PROD with NOTICES
same link. For optimal viewing, a high
speed internet connection is
recommended. The Community Banking
meeting videos are made available on-
demand approximately two weeks after
the event.
Federal Deposit Insurance Corporation.
Dated: June 29, 2016.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–15789 Filed 7–1–16; 8:45 am]
BILLING CODE 6714–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities: Comment
Request
AGENCY: Office of the Comptroller of the
Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint notice and request for
comment.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act (PRA) of 1995 (44 U.S.C.
chapter 35), the OCC, the Board, and the
FDIC (the agencies) may not conduct or
sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number. The agencies,
under the auspices of the Federal
Financial Institutions Examination
Council (FFIEC), have approved the
publication for public comment of a
proposal to revise and extend the
Market Risk Regulatory Report for
Institutions Subject to the Market Risk
Capital Rule (FFIEC 102), which is
currently an approved collection of
information for each agency. The
agencies propose to modify this
collection effective December 31, 2016,
to (1) have institutions provide their
Legal Entity Identifier (LEI) on the
reporting form, only if they already have
one, and (2) add U.S. Intermediate
Holding Companies (IHCs) to the
Board’s respondent panel.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which the FFIEC and the
agencies should modify the proposed
revisions prior to giving final approval.
The agencies will then submit the
revisions to OMB for review and
approval.
DATES: Comments must be submitted on
or before September 6, 2016.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the OMB control
number, will be shared among the
agencies.
OCC: Because paper mail in the
Washington, DC, area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible, to prainfo@
occ.treas.gov. Alternatively, comments
may be sent to: Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency,
Attention: 1557–0325 (FFIEC 102), 400
7th Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219. In
addition, comments may be sent by fax
to (571) 465–4326.
You may personally inspect and
photocopy comments at the OCC, 400
7th Street SW., Washington, DC 20219.
For security reasons, the OCC requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 649–6700 or for persons
who are deaf or hard of hearing, TTY,
(202) 649–5597. Upon arrival, visitors
will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
include any information in your
comments or supporting materials that
you consider confidential or
inappropriate for public disclosure.
Board: You may submit comments,
which should refer to ‘‘FFIEC 102’’ by
any of the following methods:
• Agency Web site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/apps/
foia/ProposedRegs.aspx.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include reporting
form number in the subject line of the
message.
• Fax: (202) 452–3819 or (202) 452–
3102.
• Mail: Robert DeV. Frierson,
Secretary, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at http://
www.federalreserve.gov/apps/foia/
ProposedRegs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room 3515, 1801 K Street
(between 18th and 19th Streets) NW.,
Washington, DC 20006, between 9:00
a.m. and 5:00 p.m. on weekdays.
FDIC: You may submit comments,
which should refer to ‘‘FFIEC 102,’’ by
any of the following methods:
• Agency Web site: http://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC Web site.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: comments@FDIC.gov.
Include ‘‘FFIEC 102’’ in the subject line
of the message.
• Mail: Manuel E. Cabeza, Counsel,
Room MB–3105, Attn: Comments,
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 550 17th Street Building
(located on F Street) on business days
between 7:00 a.m. and 5:00 p.m.
Public Inspection: All comments
received will be posted without change
to http://www.fdic.gov/regulations/laws/
federal/ including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
Additionally, commenters may send a
copy of their comments to the OMB
desk officer for the agencies by mail to
the Office of Information and Regulatory
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW.,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the FFIEC 102 discussed in
this notice, please contact any of the
agency clearance officers whose names
appear below. In addition, copies of the
FFIEC 102 reporting form and
instructions are available on the FFIEC’s
Web site (http://www.ffiec.gov/ffiec_
report_forms.htm).
OCC: Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490, or for persons
VerDate Sep<11>2014 17:27 Jul 01, 2016 Jkt 238001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1
sradovich on DSK3GDR082PROD with NOTICES
43606 Federal Register / Vol. 81, No. 128 / Tuesday, July 5, 2016 / Notices
1 12 CFR 3.201 (OCC); 12 CFR 217.201 (Board);
and 12 CFR 324.201 (FDIC). The market risk capital
rule generally applies to any banking institution
with aggregate trading assets and trading liabilities
equal to (a) 10 percent or more of quarter-end total
assets or (b) $1 billion or more. The statutory
provisions that grant the agencies the authority to
impose capital requirements are 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state member
banks), 12 U.S.C. 1844(c) (bank holding companies),
12 U.S.C. 1467a(b) (savings and loan holding
companies), 12 U.S.C. 5365 (U.S. intermediate
holding companies), 12 U.S.C. 1817 (insured state
nonmember commercial and savings banks), and 12
U.S.C. 1464 (savings associations).
2 Financial Stability Oversight Council 2015
Annual Report, page 14, http://www.treasury.gov/
initiatives/fsoc/studies-reports/Documents/
2015%20FSOC%20Annual%20Report.pdf.
3 FR Y–6, Annual Report of Holding Companies;
FR Y–7, Annual Report of Foreign Banking
Organizations; and FR Y–10, Report of Changes in
Organizational Structure (OMB No. 7100–0297).
4 80 FR 38202 (July 2, 2015).
5 77 FR 76628 (December 28, 2012).
who are deaf or hard of hearing, TTY,
(202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Washington, DC 20219.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, Board of Governors of the
Federal Reserve System, 20th and C
Streets NW., Washington, DC 20551.
Telecommunications Device for the Deaf
(TDD) users may call (202) 263–4869.
FDIC: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION: The
agencies are proposing to revise and
extend for three years the FFIEC 102,
which is currently an approved
collection of information for each
agency.
Report Title: Market Risk Regulatory
Report for Institutions Subject to the
Market Risk Capital Rule.
Form Number: FFIEC 102.
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
OCC:
OMB Control No.: 1557–0325.
Estimated Number of Respondents: 12
national banks and federal savings
associations.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden: 576
burden hours to file.
Board:
OMB Control No.: 7100–0365.
Estimated Number of Respondents: 31
state member banks, bank holding
companies, savings and loan holding
companies, and intermediate holding
companies.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden:
1,488 burden hours to file.
FDIC:
OMB Control No.: 3064–0199.
Estimated Number of Respondents: 1
insured state nonmember bank and state
savings association.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden: 48
burden hours to file.
General Description of Report
This quarterly information collection
is mandatory for market risk
institutions, defined for this purpose as
those institutions that are subject to the
market risk capital rule as incorporated
into Subpart F of the agencies’
regulatory capital rules (market risk
institutions).1 All data reported in the
FFIEC 102 are available to the public.
Each market risk institution is required
to file the FFIEC 102 for the agencies’
use in assessing the reasonableness and
accuracy of the institution’s calculation
of its minimum capital requirements
under the market risk capital rule and
in evaluating the institution’s capital in
relation to its risks. Additionally, the
market risk information collected in the
FFIEC 102: (a) Permits the agencies to
monitor the market risk profile of and
evaluate the impact and competitive
implications of the market risk capital
rule on individual market risk
institutions and the industry as a whole;
(b) provides the most current statistical
data available to identify areas of market
risk on which to focus for onsite and
offsite examinations; (c) allows the
agencies to assess and monitor the
levels and components of each reporting
institution’s risk-based capital
requirements for market risk and the
adequacy of the institution’s capital
under the market risk capital rule; and
(d) assists market risk institutions in
validating their implementation of the
market risk framework.
Discussion of Proposed Revisions
1. Reporting the Legal Entity Identifier
The Legal Entity Identifier (LEI) is a
20-digit alpha-numeric code that
uniquely identifies entities that engage
in financial transactions. The recent
financial crisis spurred the development
of a Global LEI System (GLEIS).
Internationally, regulators and market
participants have recognized the
importance of the LEI as a key
improvement in financial data systems.
The Group of Twenty (G–20) nations
directed the Financial Stability Board to
lead the coordination of international
regulatory work and deliver concrete
recommendations on the GLEIS by mid-
2012, which in turn were endorsed by
the G–20 later that same year. In January
2013, the LEI Regulatory Oversight
Committee (ROC), which includes
regulators from around the world, was
established to oversee the GLEIS on an
interim basis. With the establishment of
the full Global LEI Foundation in 2014,
the ROC continues to review and
develop broad policy standards for LEIs.
The OCC, the Board, and the FDIC are
all members of the ROC.
The LEI system is designed to
facilitate several financial stability
objectives, including the provision of
higher quality and more accurate
financial data. In the United States, the
Financial Stability Oversight Council
(FSOC) has recommended that
regulators and market participants
continue to work together to improve
the quality and comprehensiveness of
financial data both nationally and
globally. In this regard, the FSOC also
has recommended that its member
agencies promote the use of the LEI in
reporting requirements and
rulemakings, where appropriate.2
Effective beginning October 31, 2014,
the Board started requiring holding
companies to provide their LEI on the
cover pages of the FR Y–6, FR Y–7, and
FR Y–10 reports 3 only if a holding
company already has an LEI. Thus, if a
reporting holding company does not
have an LEI, it is not required to obtain
one for purposes of these Board reports.
Additionally, effective for December
2015, the Board expanded the collection
of the LEI to all holding company
subsidiary banking and nonbanking
legal entities reportable on certain
schedules of the FR Y–10 and in one
section of the FR Y–6 and FR Y–7 if an
LEI has already been issued for the
reportable entity.4 With respect to the
FFIEC 102, the agencies are proposing to
have reporting institutions provide their
LEI on the cover page of each report
beginning December 31, 2016, only if an
institution already has an LEI. As with
the Board reports, an institution that
does not have an LEI would not be
required to obtain one for purposes of
reporting it on the FFIEC 102.
2. Changes to the Board’s Respondent
Panel
On December 14, 2012, the Board
invited comment on a notice of
proposed rulemaking (proposed
Regulation YY) 5 that would have
required a Foreign Banking
Organization (FBO) with $50 billion in
VerDate Sep<11>2014 17:27 Jul 01, 2016 Jkt 238001 PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1
sradovich on DSK3GDR082PROD with NOTICES
1 12 CFR 3.201 (OCC); 12 CFR 217.201 (Board);
and 12 CFR 324.201 (FDIC). The market risk capital
rule generally applies to any banking institution
with aggregate trading assets and trading liabilities
equal to (a) 10 percent or more of quarter-end total
assets or (b) $1 billion or more. The statutory
provisions that grant the agencies the authority to
impose capital requirements are 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state member
banks), 12 U.S.C. 1844(c) (bank holding companies),
12 U.S.C. 1467a(b) (savings and loan holding
companies), 12 U.S.C. 5365 (U.S. intermediate
holding companies), 12 U.S.C. 1817 (insured state
nonmember commercial and savings banks), and 12
U.S.C. 1464 (savings associations).
2 Financial Stability Oversight Council 2015
Annual Report, page 14, http://www.treasury.gov/
initiatives/fsoc/studies-reports/Documents/
2015%20FSOC%20Annual%20Report.pdf.
3 FR Y–6, Annual Report of Holding Companies;
FR Y–7, Annual Report of Foreign Banking
Organizations; and FR Y–10, Report of Changes in
Organizational Structure (OMB No. 7100–0297).
4 80 FR 38202 (July 2, 2015).
5 77 FR 76628 (December 28, 2012).
who are deaf or hard of hearing, TTY,
(202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Washington, DC 20219.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, Board of Governors of the
Federal Reserve System, 20th and C
Streets NW., Washington, DC 20551.
Telecommunications Device for the Deaf
(TDD) users may call (202) 263–4869.
FDIC: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION: The
agencies are proposing to revise and
extend for three years the FFIEC 102,
which is currently an approved
collection of information for each
agency.
Report Title: Market Risk Regulatory
Report for Institutions Subject to the
Market Risk Capital Rule.
Form Number: FFIEC 102.
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
OCC:
OMB Control No.: 1557–0325.
Estimated Number of Respondents: 12
national banks and federal savings
associations.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden: 576
burden hours to file.
Board:
OMB Control No.: 7100–0365.
Estimated Number of Respondents: 31
state member banks, bank holding
companies, savings and loan holding
companies, and intermediate holding
companies.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden:
1,488 burden hours to file.
FDIC:
OMB Control No.: 3064–0199.
Estimated Number of Respondents: 1
insured state nonmember bank and state
savings association.
Estimated Burden per Response: 12
burden hours per quarter to file.
Estimated Total Annual Burden: 48
burden hours to file.
General Description of Report
This quarterly information collection
is mandatory for market risk
institutions, defined for this purpose as
those institutions that are subject to the
market risk capital rule as incorporated
into Subpart F of the agencies’
regulatory capital rules (market risk
institutions).1 All data reported in the
FFIEC 102 are available to the public.
Each market risk institution is required
to file the FFIEC 102 for the agencies’
use in assessing the reasonableness and
accuracy of the institution’s calculation
of its minimum capital requirements
under the market risk capital rule and
in evaluating the institution’s capital in
relation to its risks. Additionally, the
market risk information collected in the
FFIEC 102: (a) Permits the agencies to
monitor the market risk profile of and
evaluate the impact and competitive
implications of the market risk capital
rule on individual market risk
institutions and the industry as a whole;
(b) provides the most current statistical
data available to identify areas of market
risk on which to focus for onsite and
offsite examinations; (c) allows the
agencies to assess and monitor the
levels and components of each reporting
institution’s risk-based capital
requirements for market risk and the
adequacy of the institution’s capital
under the market risk capital rule; and
(d) assists market risk institutions in
validating their implementation of the
market risk framework.
Discussion of Proposed Revisions
1. Reporting the Legal Entity Identifier
The Legal Entity Identifier (LEI) is a
20-digit alpha-numeric code that
uniquely identifies entities that engage
in financial transactions. The recent
financial crisis spurred the development
of a Global LEI System (GLEIS).
Internationally, regulators and market
participants have recognized the
importance of the LEI as a key
improvement in financial data systems.
The Group of Twenty (G–20) nations
directed the Financial Stability Board to
lead the coordination of international
regulatory work and deliver concrete
recommendations on the GLEIS by mid-
2012, which in turn were endorsed by
the G–20 later that same year. In January
2013, the LEI Regulatory Oversight
Committee (ROC), which includes
regulators from around the world, was
established to oversee the GLEIS on an
interim basis. With the establishment of
the full Global LEI Foundation in 2014,
the ROC continues to review and
develop broad policy standards for LEIs.
The OCC, the Board, and the FDIC are
all members of the ROC.
The LEI system is designed to
facilitate several financial stability
objectives, including the provision of
higher quality and more accurate
financial data. In the United States, the
Financial Stability Oversight Council
(FSOC) has recommended that
regulators and market participants
continue to work together to improve
the quality and comprehensiveness of
financial data both nationally and
globally. In this regard, the FSOC also
has recommended that its member
agencies promote the use of the LEI in
reporting requirements and
rulemakings, where appropriate.2
Effective beginning October 31, 2014,
the Board started requiring holding
companies to provide their LEI on the
cover pages of the FR Y–6, FR Y–7, and
FR Y–10 reports 3 only if a holding
company already has an LEI. Thus, if a
reporting holding company does not
have an LEI, it is not required to obtain
one for purposes of these Board reports.
Additionally, effective for December
2015, the Board expanded the collection
of the LEI to all holding company
subsidiary banking and nonbanking
legal entities reportable on certain
schedules of the FR Y–10 and in one
section of the FR Y–6 and FR Y–7 if an
LEI has already been issued for the
reportable entity.4 With respect to the
FFIEC 102, the agencies are proposing to
have reporting institutions provide their
LEI on the cover page of each report
beginning December 31, 2016, only if an
institution already has an LEI. As with
the Board reports, an institution that
does not have an LEI would not be
required to obtain one for purposes of
reporting it on the FFIEC 102.
2. Changes to the Board’s Respondent
Panel
On December 14, 2012, the Board
invited comment on a notice of
proposed rulemaking (proposed
Regulation YY) 5 that would have
required a Foreign Banking
Organization (FBO) with $50 billion in
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