[Federal Register Volume 59, Number 27 (Wednesday, February 9, 1994)]
[Unknown Section]
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From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2887]
[[Page Unknown]]
[Federal Register: February 9, 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 SF 83 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 February 24, 1994.
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: Gary Waxman, 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 (SF 83), 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 (TTD)
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: Weekly Report of Eurodollar Liabilities Held by
Selected U.S. Addressees at Foreign Offices of U.S. Banks.
Agency form number: FR 2050.
OMB Docket number: 7100-0068.
Frequency: Weekly.
Reporters: Large foreign branches and banking subsidiaries of U.S.
banks.
Annual reporting hours: 11,284.
Estimated average hours per response: 3.5.
Number of respondents: 62 branches, 0 banking subsidiaries. Small
businesses are not affected.
General description of report: This information collection is
voluntary [12 U.S.C. 248(a)(2)] and is given confidential treatment [5
U.S.C. 552(b)(4)].
This report collects data on overnight and term Eurodollars held by
certain U.S. residents in selected foreign branches of U.S. commercial
banks and Edge and agreement corporations. The data are used for the
construction of the Eurodollar components of the monetary aggregates
and for analysis of banks' liability management practices.
The report has been renamed and now includes data formerly
collected on the Weekly Report of Foreign Branch Liabilities to, and
Custody Holdings for, U.S. Addresses (FR 2077; OMB No. 7100-0176),
which has been discontinued. The reporting panel has been broadened to
include foreign banking subsidiaries, although currently none meets the
cutoff. The panel will be composed of those institutions with a weekly
average of $200 million in total Eurodollar liabilities to U.S.
addressees other than depository institutions and all money market
mutual funds. Other changes include the following:
(1) The overnight Eurodollar item now collected on the FR 2050
and the two term Eurodollar items now collected on the FR 2077 would
be collected in the body of the new combined report, with the
following redefinitions: (a) The item on negotiable term Eurodollar
holdings held in custody would be redefined to exclude those held
for depository institutions, consistent with the exclusion of
depository institution holdings from the other two items; and (b)
all three items would be redefined to also exclude Eurodollar
liabilities to all money market mutual funds, which now are
included.
(2) A memorandum item would be added to the report to segregate
overnight Eurodollars held by institution-only money market mutual
funds.
(3) The two term Eurodollar data items would be expanded from
single-day (Wednesday) coverage to daily data reported weekly,
consistent with the coverage of the overnight Eurodollar item. Daily
data also would be collected for the new memorandum item.
The combined report will be implemented as of the reporting week
beginning Tuesday, March 29, 1994.
2. Report title: Quarterly Report of Assets and Liabilities of
Large Foreign Offices of U.S. Banks.
Agency form number: FR 2502q.
OMB Docket number: 7100-0079.
Frequency: Quarterly.
Reporters: Large foreign branches and banking subsidiaries of U.S.
banks.
Annual reporting hours: 9,045.
Estimated average hours per response: 3.75.
Number of respondents: 588 branches, 15 banking subsidiaries. Small
businesses are not affected.
General description of report: This information collection is
required [12 U.S.C. 248(a)(2), 602, and 625] and is given confidential
treatment [5 U.S.C. 552(b)(4)].
This report collects asset and liability information from foreign
branches and subsidiaries of U.S. commercial banks and Edge and
agreement corporations. The data are used in the construction of the
monetary aggregates and to monitor flows of funds between banks and
their branches. The report also provides information on foreign branch
claims to individual countries, which aids in monitoring the total
exposure of U.S. banks to individual countries. Also, data from this
report are combined with data from the Department of the Treasury to
form the basis of information that is compiled by the Bank for
International Settlements (BIS) from all G-10 countries on
international banking market developments.
The report has been renamed and now includes some of the data
formerly collected on the Monthly Report on Foreign Branch Assets and
Liabilities (FR 2502; OMB No. 7100-0078), which has been discontinued.
The reporting panel has been broadened to include large foreign banking
subsidiaries. The FR 2502 items on customer detail on transactions with
U.S. residents and claims and liabilities vis-a-vis other non-U.S.
offices of the parent have been reformatted and are collected in the
memoranda section. Data on Eurodollar liabilities, both overnight and
term, payable to certain U.S. addresses, which excluded liabilities
held by depository institutions, have been redefined to also exclude
liabilities held by all money market mutual funds. An item has been
added to collect liabilities held by institution-only money market
mutual funds. The report's overnight and term Eurodollar items have
been expanded from single-day coverage to five days of data. The
remaining items from the former FR 2502 report have been dropped,
resulting in a 66 percent net decrease in reporting burden.
3. Report title: Application for Employment with the Board of
Governors of the Federal Reserve System.
Agency form number: N.A.
OMB Docket number: 7100-0181.
Frequency: On occasion.
Reporters: Individuals.
Annual reporting hours: 10,099.
Estimated average hours per response: 1.
Number of respondents: 10,099.Small businesses are not affected.
General description of report: This information collection is
required to obtain a benefit (12 U.S.C. 244 and 248(1)) and is given
confidential treatment (5 U.S.C. 552(a) and 552(b) (2) and (6)).
The Application for Employment with the Board of Governors of the
Federal Reserve System collects information needed to determine the
qualifications, suitability, and availability of applications for
employment with the Board and of current Board employees for
reassignment, reinstatement, transfer, or promotion. The completed form
may also be used to examine, rate, or assess the applicant's
qualifications and to determine if the applicant is entitled to rights
or benefits under certain laws and regulations. The proposed revisions
include the deletion of certain items, the addition of items,
clarification of Federal Reserve Board personnel policies, and minor
editorial changes.
4. Report title: Report of Condition and Income for Edge and
Agreement Corporations.
Agency form number: FR 2886b.
OMB Docket number: 7100-0086.
Frequency: Quarterly.
Reporters: Edge and Agreement corporations.
Annual reporting hours: 2,301.
Estimated average hours per response: 6.6.
Number of respondents: 49 banking corporations, 38 investment
corporations. Small businesses are not affected.
General description of report: This information collection is
required and authorized by law [12 U.S.C. 602 and 625]. Certain
respondent data are given confidential treatment [5 U.S.C. 552(b)(4)].
This report collects balance sheet and income data from Edge and
Agreement corporations. The data are used to supplement examination
reports and support the applications process, to monitor aggregate
institutional trends, and to measure the effect of and compliance with
the Board's Regulation K. The significant revisions proposed consist of
the collection of all branch activities of both banking and investment
Edge corporations (both domestic and foreign) into one consolidated
report; the addition of a new schedule to collect selected items from
individual branches; the addition of a new schedule to collect
information on risk based capital; the addition of a new schedule to
collect additional information on securities to comply with the
implementation of Financial Accounting Standards Board (FASB) Statement
115; and the addition of a new balance sheet item to collect
information on subordinated notes and debentures.
Proposal To Approve Under OMB Delegated Authority the Extension,
Without Revisions, of the Following Reports
1. Report title: Request for Proposal; Request for Price
Quotations.
Agency form number: N.A.
OMB Docket number: 7100-0180.
Frequency: On occasion.
Reporters: Vendors, suppliers.
Annual reporting hours: 6,580.
Estimated average hours per response: .854
Number of respondents: 7,700. Small businesses are affected.
General description of report: This information collection is
required to obtain a benefit [12 U.S.C. 244] and is not given
confidential treatment, unless requested otherwise by the respondent.
The Federal Reserve Board utilizes these two procurement forms in
obtaining competitive proposals and contracts. Depending upon the
product or services for which the Federal Reserve Board is seeking
competitive bids, the vendor or supplier is requested to provide either
basic price information for providing the goods or services (Request
for Price Quotation) or a document covering not only price information,
but the means of performing a particular service and a description of
the qualification of the contractor's staff who will perform the
service (Request for Proposal).
2. Report title: Ongoing Intermittent Survey of Households.
Agency form number: FR 3016.
OMB Docket number: 7100-0150.
Frequency: Up to four times a year.
Reporters: Households and individuals.
Annual reporting hours: 240.
Estimated average hours per response: .25.
Number of respondents: 500. Small businesses are affected.
General description of report: This information collection is
voluntary [12 U.S.C. 225a, 263, 1828(c), 1842, 1843, and 4008, and 15
U.S.C. 1693b(a)]. No issues of confidentiality arise under the Freedom
of Information Act [FOIA] or under the Privacy Act.
This survey provides the Federal Reserve with considerable
flexibility in obtaining household-based information specifically
tailored to the Federal Reserve's policy and regulatory and operational
responsibilities.
Board of Governors of the Federal Reserve System, February 2,
1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-2887 Filed 2-8-94; 8:45 am]
BILLING CODE 6210-01-P
