[Federal Register Volume 62, Number 153 (Friday, August 8, 1997)]
[Notices]
[Page 42795]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-20919]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Submission to OMB Under
Delegated Authority
Background
Notice is hereby given of the final approval of a proposed
information collection 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). 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 report:
1. Report title: Report of Changes in Foreign Investments (Made
Pursuant to Regulation K)
Agency form number: FR 2064
OMB Control number: 7100-0109
Frequency: On occasion
Reporters: U.S. member banks, bank holding companies, and Edge and
agreement corporations
Annual reporting hours: 750
Estimated average hours per response: 0.50
Number of respondents: 50
Small businesses are not affected.
General description of report: This information collection is
mandatory (12 U.S.C. 602, 625 and 1844) and is given confidential
treatment (5 U.S.C. 552(b) (4)).
Abstract: Member banks, Edge and agreement corporations, and bank
holding companies are required to file the FR 2064 to record changes in
their international investments. Sections 25 and 25A of the Federal
Reserve Act (FRA) and Sections 4(c)(13) and 4 (c)(14) of the Bank
Holding Company Act govern the formation of Edge and agreement
corporations and export trading companies and the international and
foreign activities of U.S. banking organizations, including those of
national banks, state member banks, Edge and agreement corporations,
and bank holding companies. Pursuant to these statutory provisions, the
Board adopted various regulatory provisions, all of which were
consolidated in the Board's Regulation K, setting forth the procedures
for making investments and engaging in activities under these statutes.
Investments made under these procedures are reported on the FR 2064
whenever the reporting criteria are met. The FR 2064 report is filed no
later than the last day of the month following the month in which the
reportable investment occurred.
On December 29, 1995, the Board published proposed revisions to the
FR 2064 in the Federal Register (60 FR 67357 - 67359) to be implemented
as of March 31, 1996. On April 4, 1996, the Board published another
notice (61 FR 15070) indicating that the implementation of these
changes would be delayed while the Board contemplated revisions to
Regulation K. Since the Board is still reviewing possible revisions to
Regulation K, the FR 2064 has been extended for three years without
change. When the review of Regulation K is complete, the Board will
coordinate changes to the FR 2064 with any changes to the relevant
portions of Regulation K. Respondents should continue to use the
current form and instructions until further notice.
Board of Governors of the Federal Reserve System, August 4,
1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-20919 Filed 8-7-97; 8:45 am]
Billing Code 6210-01-F
