[Federal Register Volume 61, Number 22 (Thursday, February 1, 1996)]
[Notices]
[Page 3713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2076]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
AGENCY: Board of Governors of the Federal Reserve System (Board)
ACTION: Notice and request for 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 agencies'
submission of them to OMB for review and approval. Comments are invited
on:
(a) whether the collection of information is necessary for the
proper performance of the agencies' functions, including whether the
information has practical utility;
(b) the accuracy of the agencies' 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 April 1, 1996.
ADDRESSES: Interested parties are invited to submit written comments
the agency listed below. All comments should refer to the OMB control
number.
Written comments 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 agencies: Milo Sunderhauf, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, D.C. 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the reporting form and
instructions may be requested from the agency clearance officers 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. For
the hearing impaired only, Telecommunications Device for the Deaf
(TDD), 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: Monthly Consolidated Foreign Currency Report
Form Number: FFIEC 035
OMB Number: 7100-0178.
Frequency of Response: Monthly.
Affected Public: U.S. banks and U.S. branches and agencies of foreign
banks.
Estimated Number of Respondents: 116
Estimated Time per Response: 12.68 burden hours.
Estimated Total Annual Burden: 17,651 burden hours.
General Description of Report: This information collection is
mandatory: 12 U.S.C. 248(a) and 1844(c) and is given confidential
treatment.
Small businesses are not affected.
Abstract: The data collected on the monthly report is used
primarily by the three federal bank regulatory agencies (i.e., the
Board, the Office of the Comptroller of the Currency, and the Federal
Deposit Insurance Corporation) to monitor the foreign exchange
activities of individual U.S. banks and banking institutions. On an
aggregate basis, the three agencies make considerable use of the data
in monitoring and analyzing developments in foreign exchange markets.
Such data are used to identify changing market practices and bank
reactions to disruptions in foreign exchange markets. On an individual
bank basis, the data are used in monitoring a bank's foreign exchange
activities to assure that they are being conducted in a safe and sound
manner. The report is collected and processed by the Federal Reserve on
behalf of the three agencies. The proposed extension, without revision,
of the Monthly Consolidated Foreign Currency Report (FFIEC 035) that is
the subject of this notice has been approved by the FFIEC for
implementation as of the March 31, 1996, report date.
Request for Comment
Comments submitted in response to this Notice will be summarized or
included in the agencies' 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, January 26,
1996.
William W. Wiles,
Secretary of the Board.
[FR Doc. 96-2076 Filed 1-31-96; 8:45AM]
BILLING CODE 6210-01-F
