[Federal Register Volume 59, Number 247 (Tuesday, December 27, 1994)]
[Unknown Section]
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From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-31716]
[[Page Unknown]]
[Federal Register: December 27, 1994]
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FEDERAL RESERVE SYSTEM
Agency Forms Under Review
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice.
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Background
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act of
1980, as per 5 CFR 1320.9, to approve of and assign OMB control numbers
to collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR 1320.9.
Board-approved collections of information will be incorporated into the
official OMB inventory of currently approved collections of
information. A copy of the OMB 83I and supporting statement and the
approved collection of information instrument(s) will be placed into
OMB's public docket files. The following forms, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collection, along with an analysis of comments
and recommendations received, will be submitted to the Board for final
approval under OMB delegated authority.
DATES: Comments must be submitted on or before January 26, 1995.
ADDRESSES: Comments, which should refer to the OMB Docket number (or
Agency form number in the case of a new information collection that has
not yet been assigned an OMB number), should be addressed to Mr.
William W. Wiles, Secretary, Board of Governors of the Federal Reserve
System, 20th and C Streets, NW., Washington, DC 20551, or delivered to
the Board's mail room between 8:45 a.m. and 5:15 p.m., and to the
security control room outside of those hours. Both the mail room and
the security control room are accessible from the courtyard entrance on
20th Street between Constitution Avenue and C Street, NW. Comments
received may be inspected in room B-1122 between 9 a.m. and 5 p.m.,
except as provided in section 261.8 of the Board's Rules Regarding
Availability of Information, 12 CFR 261.8(a).
A copy of the comments may also be submitted to the OMB desk
officer for the Board: Milo Sunderhauf, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form, the
request for clearance (OMB 83I), supporting statement, instructions,
and other documents that will be placed into OMB's public docket files
once approved may be requested from the agency clearance officer, whose
name appears below. Mary M. McLaughlin, Federal Reserve Board Clearance
Officer (202-452-3829), Division of Research and Statistics, Board of
Governors of the Federal Reserve System, Washington, DC 20551. For the
hearing impaired only, Telecommunications Device for the Deaf (TDD)
Dorothea Thompson (202-452-3544), Board of Governors of the Federal
Reserve System, Washington, DC 20551.
Proposal to approve under OMB delegated authority the extension,
with revisions, of the following reports:
1. Report title: Annual Survey of Eligible Bankers Acceptances
Agency form number: FR 2006
OMB Docket number: 7100-0055
Frequency: Annually
Reporters: U.S. commercial banks, U.S. branches and agencies of foreign
banks and Edge and agreement corporations
Annual reporting hours: 65
Estimated average hours per response: 0.65
Number of respondents: 101
Small businesses are not affected.
General description of report: This information collection is voluntary
[12 U.S.C. Secs. 248(a), 625, and 3105(b)] and is given confidential
treatment [5 U.S.C. Sec. 552(b)(4)].
This report provides detailed information on eligible U.S. dollar
acceptances that are payable in the United States. The data are used
for constructing the monetary aggregates and a measure of short-and
intermediate-term business credit and have been relied upon to provide
information to the Federal Reserve's Open Market Trading Desk.
Abstract: The Federal Reserve proposes to reduce the reporting
frequency from once a month to once a year, and to eliminate nine of
the thirteen items on the report. The panel selection criterion for
future panel additions would change from the 100 most active issuers to
those whose acceptances outstanding exceed $50 million on their
quarterly condition reports. The proposed revisions would reduce the
annual reporting burden for this report by 97 percent.
2. Report title: Notice by Financial Institutions of, and Termination
of, Activities as a Government Securities Broker or Government
Securities Dealer
Agency form number: FR G-FIN and FR G-FINW
OMB Docket number: 7100-0224 Frequency: On occasion
Reporters: State member banks, foreign banks, state-chartered branches
and agencies of foreign banks, and commercial lending companies owned
or controlled by foreign banks
Annual reporting hours: 37
Estimated average hours per response: 1
Number of respondents: 37
Small businesses are affected.
General description of report: This information collection is mandatory
[15 U.S.C. Sec. 78o-5(a)(1)(B)(ii)] and is not given confidential
treatment.
Abstract: Each financial institution that acts as a government
securities broker or dealer is required to notify its appropriate
federal regulatory agency of its broker-dealer activities by filing an
FR G-FIN, unless exempted from the notice requirement by Treasury
Department regulation. Financial institutions that have previously
filed an FR G-FIN and that have terminated their broker-dealer
activities must notify their appropriate federal regulatory agency by
filing an FR G-FINW. The revisions involve clarifying the instructions
as to the appropriate regulatory authority for various categories of
government securities brokers and dealers to reflect the Government
Securities Act Amendments of 1993.
3. Report title: Uniform Application for Municipal Securities Principal
or Municipal Securities Representative Associated with a Bank Municipal
Securities Dealer; Uniform Termination Notice for Municipal Securities
Principal or Municipal Securities Representative Associated with a Bank
Municipal Securities Dealer
Agency form number: FR MSD-4, MSD-5
OMB Docket number: 7100-0100, 7100-0101
Frequency: On occasion
Reporters: State member banks who engage in activities as municipal
securities dealers, and persons who are or seek to be associated with
such dealers as municipal securities principals or representatives
Annual reporting hours: 303, 33
Estimated average hours per response: 2.75, 0.25
Number of respondents: 110, 133
Small businesses are not affected.
General description of report: This information collection is mandatory
[15 U.S.C. Secs. 78o-4(b)(2)(A) and 78o-4(c)(5)] and is given
confidential treatment [5 U.S.C. Sec. 552(b)(6)].
Abstract: The filing of this application is required of a Municipal
Securities Dealer Bank (MSD) and a person associated with a MSD, prior
to such person functioning in a professional capacity. This application
serves to verify compliance with the rules of the Municipal Securities
Rulemaking Board and with related securities and banking laws. It is
also used as a source document for entry into an interagency computer
system of records. The MSD-5 notice must be filed within 30 days after
a person associated in a professional capacity with a bank municipal
securities dealer terminates employment. The notice is a compliance
vehicle for rules of the Municipal Securities Rulemaking Board and for
related securities and banking laws. It is also a source document for
updating information on an interagency computer system of records. The
proposed revisions involve changing the phrasing of one item on the FR
MSD-4.
4. Report title: Uniform Form for Registration as a Transfer Agent and
for Amendment to Registration
Agency form number: FR TA-1
OMB Docket number: 7100-0099
Frequency: On occasion
Reporters: State member banks, bank holding companies, and nondeposit
trust company subsidiaries of bank holding companies
Annual reporting hours: 19
Estimated average hours per response: 0.53
Number of respondents: 36
Significant effect on small businesses is not expected.
General description of report: This information collection is mandatory
[Section 17A(c) of the Securities Exchange Act of 1934; and 12 CFR
208.8(f)(2)] and is not given confidential treatment.
Abstract: This interagency form fulfills the statutory registration
requirements for entities acting as transfer agents and enables certain
basic information changes concerning the transfer agents to become
known by the supervisory agencies. Minor changes to the form are
proposed to clarify the reporting of information relative to the
location(s) where transfer agent activities are conducted and relative
to those instances where transfer agents contract to either perform
transfer activities for others or have transfer activities performed
for themselves.
Proposal to approve under OMB delegated authority the extension,
without revision, of the following report:
1. Report title: Notice Claiming Status as an Exempt Transfer Agent
Agency form number: FR 4013
OMB Docket number: 7100-0137
Frequency: On occasion
Reporters: State member banks, bank holding companies, and trust
company subsidiaries of bank holding companies that are subject to
supervision by the Federal Reserve Board
Annual reporting hours: 20
Estimated average hours per response: 2
Number of respondents: 10
Small businesses are not affected.
General description of report: This information collection is
authorized by law (Sec. 17A(c)(1) of the Securities Exchange Act of
1934, 15 U.S.C. Sec. 78q-1(c)(1) as amended by the Securities Acts
Amendments of 1975) and is voluntary. The collection of the data by the
Federal Reserve from state member banks, subsidiaries of state member
banks, bank holding companies, and subsidiaries of bank holding
companies (except national banks and state nonmember banks that are
insured by the FDIC) is authorized by law (15 U.S.C.
Sec. 78c(a)(34)(B)(ii)). Individual respondent data are not regarded as
confidential.
Abstract: This voluntary notice provides a method for state member
banks, bank holding companies, and trust companies that are subject to
Federal Reserve supervision and that are engaged as a transfer agent on
behalf of an issuer of securities to claim exemption from several of
the Securities and Exchange Commission's rules applicable to registered
transfer agents.
By order of the Board of Governors of the Federal Reserve
System, December 20, 1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-31716 Filed 12-23-94; 8:45am]
BILLING CODE 6210-01-P
