[Federal Register Volume 63, Number 43 (Thursday, March 5, 1998)]
[Notices]
[Pages 10915-10916]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5753]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Proposed Collection;
Comment Request
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, as
per 5 CFR 1320.16, 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
Appendix A.1. The Federal Reserve 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 OMB control number. Board-
approved collections of information will be incorporated into the
official OMB inventory of currently approved collections of
information. A copy of the OMB 83-I and supporting statement and the
approved collection of information instruments will be placed into
OMB's public docket files. The following information collection, which
is being handled under this delegated authority, has received initial
Board approval and is 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. Comments
are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed 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 May 4, 1998.
ADDRESSES: Comments, which should refer to the OMB control number or
agency form number, should be addressed to William W. Wiles, Secretary,
Board of Governors of the Federal Reserve System, 20th and C Streets,
N.W., 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, 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 261.14 of the Board's Rules Regarding Availability
of Information, 12 CFR 261.14(a).
A copy of the comments may also be submitted to the OMB desk
officer for the Board: Alexander T. Hunt, 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 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, Chief, Financial Reports Section (202-452-
3829), Division of Research and Statistics, Board of Governors of the
Federal Reserve System, Washington, DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact Diane Jenkins (202-452-3544),
Board of Governors of the Federal Reserve System, Washington, DC 20551.
Proposal to approve under OMB delegated authority the extension for
three years, without revision, of the following reports:
1. Report titles: Notice By Financial Institutions of Government
Securities Broker or Government Securities Dealer Activities; Notice By
Financial Institutions of Termination of Activities as a Government
Securities Broker or Government Securities Dealer
Agency form numbers: FR G-FIN, FR G-FINW
OMB control number: 7100-0224
Frequency: on occasion
Reporters: state member banks, foreign banks, uninsured state-chartered
branches or state-chartered agencies of foreign banks, commercial
lending companies owned or controlled by foreign banks, and Edge
corporations
Annual reporting hours: 33 (32 hours for FR G-FIN; 1 hour for FR G-
FINW)
Estimated average hours per response: 1 hour for FR G-FIN; 15 minutes
for FR G-FINW
Number of respondents: 37 (32 for FR G-FIN; 5 for FR G-FINW)
Small businesses are affected.
General description of report: This information collection is
mandatory (15 U.S.C. 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
regulatory authority of its broker-dealer activities, unless exempted
from the notice requirement by Treasury Department regulation.
Notification is required to record the intent to engage in government
securities broker or dealer activity, to
[[Page 10916]]
amend information submitted previously, and to record termination of
such activity. Financial institutions use forms G-FIN and G-FINW to
fulfill these notification requirements. The Federal Reserve uses the
information in its supervisory capacity to measure compliance with the
Government Securities Act of 1986.
Board of Governors of the Federal Reserve System, March 2, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-5753 Filed 3-4-98; 8:45AM]
BILLING CODE 6210-01-F
