[Federal Register Volume 63, Number 98 (Thursday, May 21, 1998)]
[Notices]
[Pages 27972-27973]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13641]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
SUMMARY:
Background. Notice is hereby given of the final approval of
proposed information collections by the Board of Governors of the
Federal Reserve System (Board) under OMB delegated authority, as per 5
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). Board-approved collections of information are incorporated
into the official OMB inventory of currently approved collections of
information. Copies of the OMB 83-Is and supporting statements and
approved collection of information instruments are placed into OMB's
public docket files. 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.
FOR FURTHER INFORMATION CONTACT:
Chief, Financial Reports Section--Mary M. McLaughlin--Division of
Research and Statistics, Board of Governors of the Federal Reserve
System, Washington, DC 20551 (202-452-3829)
OMB Desk Officer--Alexander T. Hunt--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503 (202-395-7860)
Final approval under OMB delegated authority of the extension for
three years, without revision, of the following reports:
1. Report title: Annual Survey of Eligible Bankers Acceptances
Agency form number: FR 2006
OMB Control number: 7100-0055
Frequency: annual
Reporters: U.S. commercial banks, U.S. branches and agencies of
foreign banks, Edge and agreement corporations
Annual reporting hours: 46
Estimated average hours per response: 0.65
Number of respondents: 70
Small businesses are not affected.
General description of report: This information collection is
voluntary (12 U.S.C. 248(a), 625, and 3105(b)) and is given
confidential treatment (5 U.S.C. 522(b)(4)).
Abstract: The FR 2006 report provides information on eligible U.S.
dollar acceptances that are payable in the
[[Page 27973]]
United States. The data are used for constructing the monetary
aggregates, a nonfinancial debt aggregate, and a measure of short- and
intermediate-term business credit.
2. Report title: Notice of Proposed Stock Redemption
Agency form number: FR 4008
OMB control number: 7100-0131
Frequency: on occasion
Reporters: bank holding companies
Annual reporting hours: 822
Estimated average hours per response: 15.5
Number of respondents: 53
Small businesses are not affected.
General description of report: This information collection is
mandatory (12 U.S.C. 1844(c)) and is not given confidential treatment.
Abstract: The Federal Reserve System requires a bank holding
company (BHC), other than a well-run company, to give written notice to
its District Federal Reserve Bank before purchasing or redeeming its
equity securities (collectively, redeeming or redemption) if the
consideration paid for the proposed redemption and other redemptions
over the preceding twelve months is 10 percent or more of the company's
consolidated net worth. There is no formal reporting form; the BHC
notifies the Federal Reserve by letter prior to making the proposed
redemption. The Federal Reserve uses the information to fulfill its
statutory obligation to supervise bank holding companies.
3. Report title: Notice Claiming Status as an Exempt Transfer Agent
Agency form number: FR 4013
OMB control number: 7100-0137
Frequency: on occasion
Reporters: banks, bank holding companies, and trust companies
Annual reporting hours: 16
Estimated average hours per response: 2
Number of respondents: 8
Small businesses are affected.
General description of report: This information collection is
voluntary (15 U.S.C. 78q-l(c)(1)) and is not given confidential
treatment.
Abstract: Banks, bank holding companies, and trust companies
subject to the Federal Reserve's supervision that are low-volume
transfer agents voluntarily file the FR 4013 notice on occasion with
the Federal Reserve Board. Transfer agents are institutions that
provide securities transfer, registration, monitoring, and other
specified services on behalf of securities issuers. The purpose of the
notice, which is effective until the agent withdraws it, is to claim
exemption from certain rules and regulations of the Securities and
Exchange Commission (SEC). The Federal Reserve uses the notices for
supervisory purposes because the SEC has assigned to the Federal
Reserve responsibility for collecting the notices and verifying their
accuracy through examinations of the respondents. The notice is made by
letter; there is no reporting form.
4. 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 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, May 15, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-13641 Filed 5-20-98; 8:45AM]
Billing Code 6210-01-F
