[Federal Register Volume 59, Number 53 (Friday, March 18, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-6426]


[[Page Unknown]]

[Federal Register: March 18, 1994]


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FEDERAL RESERVE SYSTEM

 

Agency Forms Under Review

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 
1320.9 (OMB Regulations on Controlling Paperwork Burdens on the 
Public).
FOR FURTHER INFORMATION CONTACT: 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. Gary Waxman, OMB Desk Officer (202-395-7340), 
Office of Information and Regulatory Affairs, Office of Management and 
Budget, New Executive Office Building, room 3208, Washington, DC 20503

Final approval under OMB delegated authority of the extension with 
revisions (or the implementation) 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), 353 et seq., 461, 602, and 625] 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. Addressees (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 collected on the FR 2050 and the 
two term Eurodollar items collected on the FR 2077 are now collected in 
the body of the new combined report, with the following redefinitions:
    (a) The item on negotiable term Eurodollar holdings held in custody 
has been 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 have been redefined to also exclude Eurodollar 
liabilities to all money market mutual funds, which had been included.
    (2) A memorandum item has been added to the report to segregate 
overnight Eurodollars held by institution-only money market mutual 
funds.
    (3) The two term Eurodollar data items have been expanded from 
single-day (Wednesday) coverage to daily data reported weekly, 
consistent with the coverage of the overnight Eurodollar item. Daily 
data also are 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), 353 et seq., 461, 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 Asset 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. addressees, 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 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: 4,041
Estimated average hours per response: 11.6
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 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.

Final Approval under OMB delegated authority of 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, March 14, 
1994.
Jennifer J. Johnson,
Associate Secretary of the Board
[FR Doc. 94-6426 Filed 3-17-94; 8:45 am]
BILLING CODE 6210-01-F