[Federal Register: August 13, 2009 (Volume 74, Number 155)]
[Notices]
[Page 40867-40868]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13au09-96]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
[Docket ID OCC-2009-0009]
FEDERAL RESERVE SYSTEM
[Docket No. OP-1362]
FEDERAL DEPOSIT INSURANCE CORPORATION
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
[Docket ID OTS-2009-0011]
NATIONAL CREDIT UNION ADMINISTRATION
Proposed Interagency Guidance--Funding and Liquidity Risk
Management
AGENCY: Office of the Comptroller of the Currency, Treasury (OCC);
Board of Governors of the Federal Reserve System (Board); Federal
Deposit Insurance Corporation (FDIC); Office of Thrift Supervision,
Treasury (OTS); and National Credit Union Administration (NCUA).
ACTION: Request for public comment; correction.
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SUMMARY: This notice corrects the notice published on July 6, 2009 on
the proposed guidance on funding and liquidity risk management. The
Federal Reserve is correcting the Affected Public and Estimated Burden
sections of Part III (Paperwork Reduction Act) and the Office of the
Comptroller of the Currency, Treasury; Board of Governors of the
Federal Reserve System; Federal Deposit Insurance Corporation; Office
of Thrift Supervision, Treasury; and National Credit Union
Administration (the agencies) are correcting a footnote regarding the
definition of ``financial institution.''
DATES: Comments must be submitted on or before September 4, 2009.
FOR FURTHER INFORMATION CONTACT: James Embersit, Deputy Associate
Director, Market and Liquidity Risk, 202-452-5249 or Mary Arnett,
Supervisory Financial Analyst, Market and Liquidity Risk, 202-721-4534
or Brendan Burke, Supervisory Financial Analyst, Supervisory Policy and
Guidance, 202-452-2987.
SUPPLEMENTARY INFORMATION: In the Federal Register issue of July 6,
2009 (74 FR 32035), the agencies, in conjunction with the Conference of
State Bank Supervisors (CSBS), requested comment on the proposed
guidance on funding and liquidity risk management (proposed Guidance).
The proposed Guidance summarizes the principles of sound liquidity risk
management that the agencies have issued in the past and, where
appropriate, brings them into conformance with the ``Principles for
Sound Liquidity Risk Management and Supervision'' issued by the Basel
Committee on Banking Supervision (BCBS) in September 2008. While the
BCBS liquidity principles primarily focuses on large internationally
active financial institutions, the proposed guidance emphasizes
supervisory expectations for all domestic financial institutions
including banks, thrifts and credit unions.
The Federal Reserve is correcting the Affected Public and Estimated
Burden sections of Part III (Paperwork Reduction Act) to read:
Affected Public
FRB: Bank holding companies, state member banks, state-licensed
branches and agencies of foreign banks (other than insured branches),
and corporations organized or operating under sections 25 or 25A of the
Federal Reserve Act (Agreement corporations and Edge corporations).
Estimate of Respondent Burden:
FRB: Number of respondents: 6,156 total (29 large (over $100
billion in assets); 117 mid-size ($10--$100 billion); and 6,010 small
(less than $10 billion).
Burden under Section 14: 720 hours per large respondent, 240 hours
per mid-size respondent, and 80 hours per small respondent.
Burden under Section 20: 4 hours per month.
Total estimated annual burden: 825,248 hours.
In addition, the OCC, Board, FDIC, OTS, and NCUA are correcting
footnote 4 (74 FR 32038) to read:
Unless otherwise indicated, this interagency guidance uses the term
``financial institutions'' or ``institutions'' to include banks, saving
associations, credit unions, affiliated holding companies, state and
federally chartered
[[Page 40868]]
U.S. branches and agencies of foreign banks, and Edge and agreement
corporations. Federally insured credit unions (FICUs) do not have
holding company affiliations and therefore references to holding
companies contained within this guidance are not applicable to FICUs.
[THIS SIGNATURE PAGE PERTAINS TO THE NOTICE AND REQUEST FOR COMMENT
TITLED, ``PROPOSED INTERAGENCY GUIDELINES--FUNDING LIQUIDITY RISK
MANAGEMENT.'']
By order of the Board of Governors of the Federal Reserve
System.
Robert deV. Frierson,
Deputy Secretary of the Board.
[THIS SIGNATURE PAGE PERTAINS TO THE NOTICE AND REQUEST FOR COMMENT
TITLED, ``PROPOSED INTERAGENCY GUIDELINES--FUNDING LIQUIDITY RISK
MANAGEMENT.'']
Dated: August 4, 2009.
John C. Dugan,
Comptroller of the Currency.
[THIS SIGNATURE PAGE PERTAINS TO THE NOTICE AND REQUEST FOR COMMENT
TITLED, ``PROPOSED INTERAGENCY GUIDELINES--FUNDING LIQUIDITY RISK
MANAGEMENT.'']
Dated at Washington, DC, the 3rd day of August, 2009.
By order of the Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[THIS SIGNATURE PAGE PERTAINS TO THE NOTICE AND REQUEST FOR COMMENT
TITLED, ``PROPOSED INTERAGENCY GUIDELINES--FUNDING LIQUIDITY RISK
MANAGEMENT.'']
Dated: August 7, 2009.
By the Office of Thrift Supervision.
John E. Bowman,
Acting Director.
[THIS SIGNATURE PAGE PERTAINS TO THE NOTICE AND REQUEST FOR COMMENT
TITLED, ``PROPOSED INTERAGENCY GUIDELINES--FUNDING LIQUIDITY RISK
MANAGEMENT.'']
Dated: August 3, 2009.
By the National Credit Union Administration Board.
Mary F. Rupp,
Secretary of the Board.
[FR Doc. E9-19406 Filed 8-12-09; 8:45 am]
BILLING CODE 6210-01-P