[Federal Register Volume 59, Number 122 (Monday, June 27, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-15442]


[[Page Unknown]]

[Federal Register: June 27, 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 July 5, 1994. This 
shortened comment period is due to the fact that all thirty-nine 
primary dealers have consulted with Federal Reserve staff regarding 
these changes and have implemented all of the necessary programming 
changes.

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 9:00 a.m. and 5:00 
p.m., except as provided in Sec. 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: Milo Sunderhauf, 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 (TDD) 
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 
Revision, of the Following Report(s):

    1. Report title: Government Securities Dealers Reports.
    Agency form number: FR 2004A, B, C, and WI.
    OMB Docket number: 7100-0003.
    Frequency: Weekly and on occasion.
    Reporters: Primary dealers in U.S. government securities.
    Annual reporting hours: 11,544.
    Estimated average hours per response: 1.
    Number of respondents: 39.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary [12 U.S.C. 248(a)(2), 353-359a, and 461] and is given 
confidential treatment [5 U.S.C. 552(b)(4)].
    This group of reports (the ``FR 2004 series'') is used to collect 
data on positions, transactions and financing activity from U.S. 
government securities dealers. Data needs with respect to the FR 2004 
series have changed in light of the Joint Report on the Government 
Securities Market submitted to the Congress in January 1992 by the 
Federal Reserve, the U.S. Treasury Department, and the Securities and 
Exchange Commission. Based on that report, significant changes to the 
FR 2004 series of reports have been recommended. A summary of those 
changes follows.
    For the Weekly Report of Dealer Positions (FR 2004A):
     Money market instruments and the addendum section are 
eliminated.
     Pass-through mortgage-backed securities and all other 
mortgage-backed securities are combined into one category.
     Federal agency securities are combined into one maturity 
category and two maturity categories of Treasury securities are 
eliminated.
     Option positions are reduced to long and short categories 
rather than purchased and sold calls, purchased and sold puts.
     Forward positions are reported with immediate positions 
under the title ``outright positions''. For the Weekly Report of 
Cumulative Transactions (FR 2004B):
     The addendum section is eliminated and the Treasury, 
agency and mortgage-backed categories are abbreviated as on the 
proposed revised FR 2004A.
     ``Buys'' and ``Sells'' categories are combined.
     Primary Dealers are combined with ``customers'' (now 
called ``with others'') rather than brokers, and the ``all other'' 
category is eliminated.
     Forward transactions are reported with immediate positions 
under the title ``outright transactions''.
    For the Weekly Report of Dealer Financing (FR 2004C):
     Customer categories are eliminated.
     Term agreements are reduced to one category.
     The categories ``cash collateral'' and ``securities and 
LC's'' are eliminated and replaced by securities received as pledge or 
pledged.
     Fails are condensed on the proposed report.
    For the Daily Report of Dealer Positions in Treasury Financings (FR 
2004WI):
     Gross long and short positions are replaced by purchases 
and sales.
     Net financing commitments are added.
    For the new Report of Specific Issues (FR 2004SI):
     This is an entirely new report that is similar to the 
addendum sections of the current FR 2004A and B, except that it 
incorporates financing and fails. It is designed to collect information 
on specific Treasury securities for market surveillance purposes. It 
will be collected weekly on a routine basis. Also, the Federal Reserve 
will have the authority to call for reporting of any issue daily, on an 
as-needed basis.
    For the Report of Suggested Evidence of Accuracy (FR 2004B.1):
     Eliminated.

Board of Governors of the Federal Reserve System, June 21, 1994.
William W. Wiles,
Secretary of the Board.
[FR Doc. 94-15442 Filed 6-24-94; 8:45am]
BILLING CODE 6210-01-P