[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