96-24916. Agency Information Collection Activities: Submission to OMB Under Delegated Authority  

  • [Federal Register Volume 61, Number 190 (Monday, September 30, 1996)]
    [Notices]
    [Pages 51116-51117]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 96-24916]
    
    
    
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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 
    proposed information collections by the Board of Governors of the 
    Federal Reserve System (Board) under OMB delegated authority, as per 5 
    CFR Sec. 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:
    
    Federal Reserve Board Clearance Officer--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, Without 
    Revision, of the Following Reports
    
        1. Report title: Report of Broker Carrying Margin Accounts.
        Agency form number: FR 2240.
        OMB Control number: 7100-0001.
        Frequency: annual.
        Reporters: Securities brokers and dealers that carry margin 
    accounts.
        Annual reporting hours: 246.
        Estimated average hours per response: 2.7.
        Number of respondents: 91.
        Small businesses are affected.
        General description of report: This information collection is 
    mandatory (15 U.S.C. Sec. 78q(g)) and is given confidential treatment 
    (5 U.S.C. Sec. 552(b)(4)).
        Abstract: In order to fulfill the Board's responsibility to 
    regulate margin credit under the Securities Exchange Act of 1934, the 
    FR 2240 collects certain balance sheet information required from 
    securities brokers and dealers carrying margin accounts.
    
        2. Report title: OTC Margin Stock Report.
        Agency form number: FR 2048.
        OMB Control number: 7100-0004.
        Frequency: quarterly.
        Reporters: Corporations with over-the-counter stock traded on the 
    NASDAQ SmallCap market.
        Annual reporting hours: 75.
        Estimated average hours per response: 0.25.
        Number of respondents: 75.
        Small businesses are not affected.
        General description of report: This information collection is 
    voluntary (15 U.S.C. 78g and 78w) and is not considered confidential 
    under the Freedom of Information Act (5 U.S.C. 552).
        Abstract: The FR 2048 is used to survey corporations with over-the-
    counter (OTC) stock traded on the National Association of Securities 
    Dealers Automated Quotations System's (NASDAQ) SmallCap Market. These 
    securities are being considered for initial and continued inclusion on 
    the Board's List of Marginable OTC Stocks published each February, May, 
    August, and November. The OTC List is part of the information the 
    Federal Reserve uses in fulfilling its statutory obligation to regulate 
    margin credit as mandated by the Securities Exchange Act of 1934.
    
        3. Report title: Consumer Satisfaction Questionnaire.
        Agency form number: FR 1379.
        OMB Control number: 7100-0135.
        Frequency: On occasion.
        Reporters: Individuals.
        Annual reporting hours: 8.
        Estimated average hours per response: .25.
        Number of respondents: 30.
        Small businesses are not affected.
        General description of report: This information collection is 
    voluntary (15 U.S.C. 57a) and is not generally given confidential 
    treatment, however, some respondents may provide information not 
    specifically solicited on the form which may be exempt from disclosure 
    (5 U.S.C. 552(b)(4), (b)(6), or (b7)) upon specific request from the 
    respondent.
        Abstract: The FR 1379 is used to determine whether complainants are 
    satisfied with the way the Federal Reserve System handled their 
    complaints and to solicit suggestions for improving the complaint-
    handling process. The questionnaire is sent to consumers whose 
    complaints against state member banks were referred by the Board of 
    Governors to the appropriate Federal Reserve Bank for resolution.
    
        4. Report title: Application for a Foreign Organization to Become a 
    Bank Holding Company.
        Agency form number: FR Y-1f.
        OMB control number: 7100-0119.
        Frequency: On occasion.
        Reporters: Foreign organizations seeking initial entry into the 
    United States through the acquisition of a domestic bank.
        Annual reporting hours: 154.
        Estimated average hours per response: 77.
        Number of respondents: 2.
        Small businesses are not affected.
        General description of report: This information collection is 
    mandatory for any foreign organization seeking to become a U.S. bank 
    holding company, and is authorized by the Bank Holding Company Act (12 
    U.S.C. 1842(a) and 1844 (a) through (c)) and by Regulation Y (12 CFR 
    Secs. 225.5(a) and 225.11(f)). The FR Y-1f is not confidential unless 
    the applicant specifically requests confidential treatment and the 
    Board approves the request. For the Board to grant confidentiality, the 
    applicant must demonstrate that disclosure of certain information would 
    likely result in substantial harm to the competitive position of the 
    bank holding company, its substitutes, or the bank to be acquired, or 
    that disclosure of personal information would result in clearly 
    unwarranted invasion of personal privacy.
        Abstract: The application is filed by any company that is organized 
    under the laws of a foreign country and that is seeking initial entry 
    into the United States via establishment or acquisition of a U.S. 
    subsidiary bank. The application must contain the most recent 
    information available so that the staff can analyze the applicant's 
    current competitive position, its financial condition, and its 
    compliance with relevant statutory factors. While the application 
    collects the minimum amount of information needed, the instructions 
    explicitly state that the applicant may submit any additional 
    information that it wants the Federal Reserve to consider; thus the 
    applicant has latitude to present its best case. No other supervisory 
    information is collected.
    
    Final Approval Under OMB Delegated Authority to Discontinue the 
    Following Reports
    
        1. Report title: Survey of Debits to Selected Deposit Accounts.
        Agency form number: FR 2573.
        OMB control number: 7100-0081.
        Frequency: Monthly.
        Reporters: Selected commercial banks.
        Annual reporting hours: 3,000.
        Estimated average hours per response: 1.0.
        Number of respondents: 250.
        Small businesses are 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. Sec. 552(b)(4)).
        Abstract: The report collects the amount of debits (withdrawals 
    during
    
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    the month) for three deposit categories, which cover the major types of 
    deposits that money stock holders can use directly or indirectly for 
    transaction purposes: (1) demand deposits of individuals, partnerships, 
    corporations, and of states and political subdivisions; (2) other 
    checkable deposits (ATS, NOW, and telephone and preauthorized transfer 
    accounts); and (3) savings deposits (including money market deposit 
    accounts). The Federal Reserve has used the FR 2573 data, together with 
    deposit balance data obtained in large part from weekly deposits 
    reports, in constructing universe estimates of bank debits and in 
    calculating deposit turnover rates, which are published in the Federal 
    Reserve's monthly statistical release, ``Debits and Deposit Turnover at 
    Commercial Banks (G.6).'' These data have aided in explaining the 
    behavior of the transaction accounts component of the monetary 
    aggregates.
        The usefulness of the FR 2573 data in understanding the behavior of 
    the monetary aggregates has diminished in recent years as the 
    distinction between transaction accounts and savings accounts has 
    become increasingly blurred. Further, the emphasis on monetary 
    aggregates as policy targets has decreased. In addition, respondent 
    participation has declined over the last several years. For these 
    reasons, the Federal Reserve will discontinue the survey and the 
    related statistical release effective following the collection of the 
    August 1996 survey and publication of the related statistical data.
    
        2. Report title: Quarterly Report of Condition for a New York State 
    Investment Company and Its Domestic Subsidiaries.
        Agency form number: FR 2886a.
        OMB control number: 7100-0207.
        Frequency: quarterly.
        Reporters: New York State investment companies
        Annual reporting hours: 360.
        Estimated average hours per response: 18.
        Number of respondents: 5.
        Small businesses are not affected.
        General description of report: This information collection is 
    mandatory (12 U.S.C. 3105(b)(1)) and is authorized by state law (New 
    York State Banking Law Sec. 513). Data from Schedule M, ``Due to/Due 
    from Related Banking Institutions in the U.S. and in Foreign 
    Countries,'' is given confidential treatment (5 U.S.C. 552(b)(4)).
        Abstract: This report collects selected balance sheet items from 
    New York State investment companies chartered under Article XII of New 
    York state banking law that are engaged in banking and that are 
    majority owned by foreign banks. The Federal Reserve uses data from the 
    FR 2886a to construct various banking statistics, including money 
    stock, bank credit aggregates, and nondeposit sources of funds for 
    commercial banks. The New York State Banking Department uses data from 
    the FR 2886a for supervisory purposes.
        Over the last few years the number of respondents required to file 
    this report has declined with asset coverage shrinking significantly. 
    Because of the very small number of respondents and the diminished 
    importance that they represent in the construction of the Board's 
    various banking statistics, the Federal Reserve will discontinue the 
    collection of this report effective following the September 30, 1996 
    reporting date. The New York State Banking Department will continue to 
    collect the FR 2886a on their own behalf for supervisory purposes.
    
        Board of Governors of the Federal Reserve System, September 24, 
    1996.
    Jennifer J. Johnson,
    Deputy Secretary of the Board.
    [FR Doc. 96-24916 Filed 9-27-96; 8:45 am]
    BILLING CODE 6210-01-P
    
    
    

Document Information

Published:
09/30/1996
Department:
Federal Reserve System
Entry Type:
Notice
Document Number:
96-24916
Pages:
51116-51117 (2 pages)
PDF File:
96-24916.pdf