Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

On September 30, 2024, the Board published a notice in the Federal Register (89 FR 79592) requesting public comment for 60 days on the extension, with revision, of the FR 2420. The Board proposed to add data items to the FR 2420 reporting form concerning short-term bank funding from the Federal Home Loan Banks (FHLBs) in the form of secured borrowings known as advances with one year or less to maturity at origination, as well as interest-bearing deposits placed by FHLBs without a specified maturity. In addition, the Board proposed to add an item to the time deposits section of the FR 2420 requiring respondents to denote which deposits are brokered transactions. The Board proposed to revise the FR 2420 instructions to add guidance related to submission of these new data items. Among other instruction revisions, the Board proposed to remove references to the London Interbank Offered Rate (LIBOR) in the instructions to reflect the cessation of U.S. dollar LIBOR. The comment period for this notice expired on November 29, 2024. The Board did not receive any comments. The revisions will be implemented as proposed.