The Federal Reserve Board is seeking public comments on a proposal to extend the information collection known as the Report of Institution-to-Aggregate Granular Data on Assets and Liabilities (FR 2510) for another three years without changes. This report collects detailed data on the financial positions of large banking organizations, such as their assets, liabilities, and derivatives, which help the Board monitor the systemic impact of these institutions. Comments on whether the information collection is necessary, as well as suggestions to improve its quality or reduce its burden, are requested by February 4, 2025. The Board may adjust the proposal based on feedback received during this comment period.
Simple Explanation
The Federal Reserve Board wants people to share their thoughts about a plan to keep collecting important money data from big banks for three more years. They're asking if this collection is still needed and how it can be less troublesome for banks that have to report this information.