95-31463. Agency Forms Under Review  

  • [Federal Register Volume 60, Number 250 (Friday, December 29, 1995)]
    [Notices]
    [Pages 67356-67357]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 95-31463]
    
    
    
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    THE FEDERAL RESERVE SYSTEM
    
    
    Agency Forms Under Review
    
    AGENCY: Board of Governors of the Federal Reserve System (Board)
    ACTION: Notice and request for comment.
    Proposed Agency Information Collection Activities; Comment
    
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    BACKGROUND: In accordance with the requirements of the Paperwork 
    Reduction Act of 1995 (44 U.S.C. chapter 35), the Board may not conduct 
    or sponsor, and the respondent is not required to respond to, an 
    information collection that has been extended, revised, or implemented 
    on or after October 1, 1995, unless it displays a currently valid 
    Office of Management and Budget (OMB) control number. The following 
    currently approved collection of information has received approval from 
    the Federal Financial Institutions Examination Council (FFIEC), of 
    which the Board is a member, and is hereby published for comment. At 
    the end of the comment period, the comments and recommendations 
    received will be analyzed to determine the extent to which the 
    information collection may be modified prior to the Board's submission 
    to OMB for review and approval. Comments are invited on:
        (a) Whether the collection of information is necessary for the 
    proper performance of the federal banking agencies' functions, 
    including whether the information has practical utility;
        (b) The accuracy of the Board's estimate of the burden of the 
    information collection, including the validity of the methodology and 
    assumptions used;
        (c) Ways to enhance the quality, utility, and clarity of the 
    information to be collected; and
        (d) Ways to minimize the burden of information collection on 
    respondents, including through the use of automated collection 
    techniques or other forms of information technology.
    DATES: Comments must be submitted on or before February 27, 1996.
    ADDRESSES: Comments, which should refer to the OMB control number, 
    should be addressed to Mr. William W. Wiles, Secretary, Board of 
    Governors of the Federal Reserve System, 20th and C Streets, N.W., 
    Washington, D.C. 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, N.W. Comments received may be 
    inspected in room M-P-500 between 9:00 a.m. and 5:00 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, D.C. 20503.
    
    [[Page 67357]]
    
    FOR FURTHER INFORMATION CONTACT: A copy of the reporting form and 
    instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
    supporting statement, 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, Board Clearance Officer, (202) 452-3829, 
    Division of Research and Statistics, Board of Governors of the Federal 
    Reserve System, 20th and C Streets, N.W., Washington, D.C. 20551. 
    Telecommunications Device for the Deaf (TDD) users may contact Dorothea 
    Thompson, (202) 452-3544, Board of Governors of the Federal Reserve 
    System, 20th and C Streets, N.W., Washington, D.C. 20551.
    SUPPLEMENTARY INFORMATION: Proposal to extend, without revision, the 
    following currently approved collection of information:
    Title: Report of Assets and Liabilities of a Non-U.S. Branch that is 
    Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-
    U.S.) Bank
    Form Number: FFIEC 002S
    OMB Number: 7100-0273.
    Frequency of Response: Quarterly.
    Affected Public: U.S. branches and agencies of foreign banks.
    Estimated Number of Respondents: 130
    Estimated Time per Response: 6 burden hours.
    Estimated Total Annual Burden: 3,120 burden hours.
        General Description of Report: This information collection is 
    mandatory: 12 U.S.C. 3105(b)(2), 1817(a), and 3102(b) and is given 
    confidential treatment (5 U.S.C. 552(b)(8)).
    Small businesses are not affected.
        Abstract: On a quarterly basis, all U.S. branches and agencies of 
    foreign banks (U.S. branches) are required to file detailed schedules 
    of assets and liabilities in the form of a condition report and a 
    variety of supporting schedules (FFIEC 002). This report is a uniform 
    report established by the FFIEC, which the Federal Reserve collects and 
    processes on behalf of all three federal bank regulatory agencies, that 
    is, the Board, the Office of the Comptroller of the Currency, and the 
    Federal Deposit Insurance Corporation.
        A separate supplement (FFIEC 002S) collects information on assets 
    and liabilities of any non-U.S. branch that is managed or controlled by 
    a U.S. office of the foreign bank. Managed or controlled means that the 
    majority of the responsibility for business decisions, including but 
    not limited to decisions with regard to lending or asset management or 
    funding or liability management, or the responsibility for 
    recordkeeping in respect of assets or liabilities for that foreign 
    branch resides at the U.S. branch or agency. A separate supplement must 
    be completed for each applicable foreign branch. The supplements must 
    be filed quarterly along with the U.S. branch's or agency's FFIEC 002.
        Data collected on the FFIEC 002S are used
        (1) To monitor deposit and credit transactions of U.S. residents;
        (2) For monitoring the impact of policy changes;
        (3) For analyzing structural issues concerning foreign bank 
    activity in U.S. markets;
        (4) For understanding flows of banking funds and indebtedness of 
    developing countries in connection with data collected by the 
    International Monetary Fund (IMF) and the Bank for International 
    Settlements (BIS) that are used in economic analysis; and (5) to 
    provide information to assist in the supervision of U.S. offices of 
    foreign banks, which often are managed jointly with these branches.
    CURRENT ACTIONS: The proposal to extend, without revision, the Report 
    of Assets and Liabilities of a Non-U.S. Branch That is Managed or 
    Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank 
    (FFIEC 002S) that is the subject of this notice has been approved by 
    the FFIEC. Clarifications or conforming changes would be made to 
    several instructions.
    REQUEST FOR COMMENT: Comments submitted in response to this Notice will 
    be summarized or included in the Board's requests for OMB approval. All 
    comments will become a matter of public record. Written comments should 
    address the accuracy of the burden estimates and ways to minimize 
    burden including the use of automated collection techniques or the use 
    of other forms of information technology as well as other relevant 
    aspects of the information collection request.
    
        Board of Governors of the Federal Reserve System, December 22, 
    1995.
    Jennifer J. Johnson,
    Deputy Secretary of the Board.
    [FR Doc. 95-31463 Filed 12-28-95; 8:45am]
    BILLING CODE 6210-01-F
    
    

Document Information

Published:
12/29/1995
Department:
Federal Reserve System
Entry Type:
Notice
Action:
Notice and request for comment. Proposed Agency Information Collection Activities; Comment
Document Number:
95-31463
Dates:
Comments must be submitted on or before February 27, 1996.
Pages:
67356-67357 (2 pages)
PDF File:
95-31463.pdf