[Federal Register Volume 61, Number 2 (Wednesday, January 3, 1996)]
[Notices]
[Pages 163-166]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-00030]



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FEDERAL RESERVE SYSTEM


Agency Forms Under Review

AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice and a request for public comments.

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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 
1995, as per 5 CFR 1320.16, 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 Appendix A.1. 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. Board-
approved collections of information will be incorporated into the 
official OMB inventory of currently approved collections of 
information. A copy of the OMB 83-I and supporting statement and the 
approved collection of information instrument will be placed into OMB's 
public docket files. The following information collections, 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. Comments 
are invited on:
    (a) Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    (b) The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, including the validity of the 
methodology and assumptions used;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (d) Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.
DATES: Comments must be submitted on or before March 4, 1996.
ADDRESSES: Comments, which should refer to the OMB control 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, N.W., 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, N.W. Comments 
received may be inspected in room M-P-500 between 9:00 a.m. and 5:00 
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: 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: Robert T. Maahs, Supervisory Financial 
Analyst (202/872-4935) or Tina Robertson, Supervisory Financial Analyst 
(202/452-2949). A copy of the proposed form and instructions, the 
Paperwork Reduction Act Submission (OMB 83-I), supporting statement, 
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. Telecommunications 
Device for the Deaf (TDD) users may contact Dorothea Thompson (202-452-
3544), Board of Governors of the Federal Reserve System, Washington, DC 
20551.
SUPPLEMENTARY INFORMATION:
    General Information
    Under the Bank Holding Company Act of 1956, as amended, the Board 
is responsible for the supervision and 

[[Page 164]]
regulation of all bank holding companies. The FR Y-9 and FR Y-11 series 
of reports historically have been, and continue to be, the primary 
source of financial information on bank holding companies and their 
nonbanking activities between on-site inspections. Financial 
information, as well as ratios developed from the Y series reports, are 
used to detect emerging financial problems, to review performance for 
pre-inspection analysis, to evaluate bank holding company mergers and 
acquisitions, and to analyze a holding company's overall financial 
condition and performance as part of the Federal Reserve System's 
overall analytical effort.
    Proposal to approve under OMB delegated authority the revision of 
the following reports:
    1. Report title: Consolidated Financial Statements for Bank Holding 
Companies
Agency form number: FR Y-9C
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 183,927
Estimated average hours per response: Range from 5 to 1,250 hours
Number of respondents: 1,354
Small businesses are affected.
    General description of report: The information collection is 
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)]. 
Confidential treatment is not routinely given to the data in these 
reports. However, confidential treatment for the reporting information, 
in whole or in part, can be requested in accordance with the 
instructions to the form.
    Data reported on the FR Y-9C, Schedule HC-H, Column A, requiring 
information on ``assets past due 30 through 89 days and still 
accruing'' and memoranda item 2 are confidential pursuant to Section 
(b)(8) of the Freedom of Information Act [5 U.S.C. 552(b)(8)].
    The FR Y-9C consolidated financial statements are currently filed 
by top-tier bank holding companies with total consolidated assets of 
$150 million or more and by lower-tier bank holding companies that have 
total consolidated assets of $1 billion or more. In addition, all 
multibank bank holding companies with debt outstanding to the general 
public or engaged in certain nonbank activities, regardless of size, 
must file the FR Y-9C. The following bank holding companies are exempt 
from filing the FR Y-9C, unless the Board specifically requires an 
exempt company to file the report: bank holding companies that are 
subsidiaries of another bank holding company and have total 
consolidated assets of less than $1 billion; bank holding companies 
that have been granted a hardship exemption by the Board under section 
4(d) of the Bank Holding Company Act; and foreign banking organizations 
as defined by section 211.23(b) of Regulation K.
    The report includes a balance sheet, income statement, and 
statement of changes in equity capital with supporting schedules 
providing information on securities, loans, risk-based capital, 
deposits, interest sensitivity, average balances, off-balance sheet 
activities, past due loans, and loan charge-offs and recoveries.
    The Federal Reserve proposes the following revisions to the FR Y-9C 
that would be effective with the March 31, 1996 reporting date. Most of 
the proposed new items are needed to maintain consistency with 
comparable items recently proposed or previously added to the 
commercial bank Reports of Condition and Income (Call Report).
    A. Revisions related to consistent reporting with the Call Report
Schedule HC, Balance Sheet
    (1) Revise the reporting requirements for item 17, ``Other borrowed 
money with original maturity of one year or less,'' and item 18, 
``Other borrowed money with original maturity of more than one year,'' 
to collect information based on remaining maturity instead of original 
maturity as currently reported. This change in reporting will also 
require a revision to line item 5 of Schedule HC-D, ``Interest 
Sensitivity,'' to exclude the portion of long-term debt reported in 
Schedule HC, item 18. Such reporting will no longer be applicable 
because of the revisions to reporting ``other borrowed money.''
Schedule HC-B, Part I, Loans and Lease Financing Receivables
    (1) Add a line item to report the amount of bankers acceptances of 
other banks that are included in loans to depository institutions.
    (2) Add a memorandum item to report the amount of commercial paper 
included in loans.
Schedule HC-C, Deposit Liabilities in Domestic Offices
    (1) Add two memorandum items to report:
    (a) brokered deposits less than $100,000 with a remaining maturity 
of one year or less, and
    (b) brokered deposits less than $100,000 with a remaining maturity 
of more than one year.
    (2) Add a memorandum item to report the amount of time deposits 
greater than $100,000 with a remaining maturity of one year or less.
    (3) Add a memorandum item to report the amount of foreign office 
time deposits with a remaining maturity of one year or less.
Schedule HC-F, Off-Balance-Sheet Items
    (1) Add two line items to report the outstanding amount of small 
business obligations sold with recourse and the amount of recourse 
retained.
Schedule HI, Income Statement
    (1) Combine the portion of item 5(c), ``Trading gains (losses) and 
fees from foreign exchange'' with item 5(d), ``Other gains (losses) and 
fees from trading assets and liabilities,'' into one line item.
    (2) Add a line item to report ``other gains (losses) from foreign 
transactions,'' which is currently included in line 5(c).
    (3) Delete memorandum item 3, ``estimated foreign tax credits 
(included in applicable income taxes, item 9 and 12 ).''
Schedule HI-B, Charge-offs and Recoveries and Changes in Allowance for 
Loan and Lease Losses
    (1) Add a line item to report the amount of credit losses on off-
balance-sheet derivative contracts.
    B. Other FR Y-9C revisions
Schedule HC-A, Securities
    (1) Move the footnote disclosure on page 21, ``Net unrealized 
losses on equity securities with readily determinable fair values 
reported in Schedule HC-A, items 4.b and 5.b (net of tax effect),'' 
into the body of Schedule HC-A.
Schedule HC-G, Memoranda
    Add two line items to report:
    (a) The amount of excess servicing fees receivable (other than 
excess residential mortgage servicing fees receivable) and
    (b) The amount of excess servicing fees receivable that represent a 
credit enhancement for securitized receivables.
Schedule HC-I, Risk-Based Capital
    (1) Combine line items 10 and 11 on Schedule HC-I, Part II, into 
one line item and change the caption to ``credit equivalent amount of 
off-balance-sheet derivative contracts'' (an identical caption change 
will occur on Schedule HC-J, Part II, line 6).
    (2) Delete memorandum item 6(a) of Part I, discounted value of 
purchased mortgage servicing rights.
    2. Report title: Parent Company Only Financial Statements for Large 
Bank Holding Companies
Agency form number: FR Y-9LP
OMB control number: 7100-0128
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 29,562
Estimated average hours per response: Range from 2.0 to 13.5 hours
Number of respondents: 1,646
Small businesses are affected. 

[[Page 165]]

    General description of report: The information collection is 
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)]. 
Confidential treatment is not routinely given to the information in 
these reports. However, confidential treatment for the report 
information, in whole or in part, can be requested in accordance with 
the instructions to the form.
    The FR Y-9LP includes standardized financial statements filed 
quarterly on a parent company only basis from each bank holding company 
that files the FR Y-9C. In addition, for tiered bank holding companies, 
a separate FR Y-9LP must be filed for each lower tier bank holding 
company if the top tier bank holding company files the FR Y-9C. The 
following bank holding companies are exempt from filing the FR Y-9LP, 
unless the Board specifically requires an exempt company to file the 
report: bank holding companies that have been granted a hardship 
exemption by the Board under section 4(d) of the Bank Holding Company 
Act; and foreign banking organizations as defined by section 211.23(b) 
of Regulation K.
    The Federal Reserve proposes the following revisions to the FR Y-
9LP. The proposed revisions are needed to maintain consistency with 
comparable items on the FR Y-9C, and would be effective with the March 
31, 1996 reporting date.
Schedule PC, Parent Company Only Balance Sheet
    Revise the reporting requirements for line item 13, ``Borrowings 
with an original maturity of one year or less,'' and line item 14, 
``Other borrowed funds with an original maturity of greater than one 
year,'' to collect information based on remaining maturity instead of 
original maturity as currently reported.
Schedule PC-B, Memoranda
    Revise the reporting requirements of line item 2, ``Amount of 
borrowings included in Schedule PC, items 14 through 16 and item 18 
that is scheduled to mature with one year (exclude short-term debt),'' 
to exclude line item 14 because line item 14 of Schedule PC will be 
based on remaining maturity and will no longer be applicable to this 
line item.
    3. Report title: Quarterly Financial Statements of Nonbank 
Subsidiaries of Bank Holding Companies
Agency form number: FR Y-11Q
OMB control number: 7100-0244
Frequency: Quarterly
Reporters: Bank holding companies
Annual reporting hours: 6,696
Estimated average hours per response: Range from 3.0 to 8.0 hours
Number of respondents: 270
Small businesses are affected.
    General description of report: The information collection is 
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)]. 
Confidential treatment is not routinely given to most of the data in 
these reports. However, confidential treatment for the report 
information, in whole or in part, can be requested in accordance with 
the instructions to the form. FR Y-11Q, memorandum item 7.a ``loans and 
leases past due 30 through 89 days'' and FR Y-11Q, memorandum item 7.d, 
``loans and leases restructured and included in past due and nonaccrual 
loans'' are confidential pursuant to Section (b)(8) of the Freedom of 
Information Act [5 U.S.C. 552(b)(8)].
    The FR Y-11Q is filed quarterly by the top tier bank holding 
companies for each nonbank subsidiary of a bank holding company with 
total consolidated assets of $150 million or more in which the nonbank 
subsidiary has total assets of 5 percent or more of the top-tier bank 
holding company's consolidated Tier 1 capital, or where the nonbank 
subsidiary's total operating revenue equals 5 percent or more of the 
top-tier bank holding company's consolidated total operating revenue. 
The report consists of a balance sheet, income statement, off-balance-
sheet items, information on changes in equity capital, and a memoranda 
section.
    The Federal Reserve proposes the following revisions to the FR Y-
11Q to be effective with the March 31, 1996 reporting date:
Balance Sheet
    (1) Delete line items 11 and 18, ``Balances with nonrelated 
institutions.''
    (2) Revise the reporting requirements of line item 15, ``Borrowing 
with original maturity of one year or less (including federal funds 
purchased),'' and line item 16, ``Borrowing with an original maturity 
of more than one year (including subordinated debt),'' to collect 
information based on remaining maturity instead of original maturity as 
currently reported.
    (3) Delete memorandum item 13, ``Borrowings scheduled to mature in 
less than one year.''
Income Statement
    Add a line item to report the amount of equity in the undistributed 
income (losses) of subsidiaries.
    4. Report title: Annual Financial Statements of Nonbank 
Subsidiaries
Agency form number: FR Y-11I
OMB control number: 7100-0244
Frequency: Annual
Reporters: Bank holding companies
Annual reporting hours: 13,216
Estimated average hours per response: Range from .4 to 8.0 hours
Number of respondents: 4,130
Small businesses are affected.
    General description of report: The information collection is 
mandatory [12 U.S.C. 1844(b) and (c)] and [12 CFR 225.5(b)]. 
Confidential treatment is not routinely given to the data in these 
reports. However, confidential treatment for the report information, in 
whole or in part, can be requested in accordance with the instructions 
to the form. FR Y-11I, Schedule A, item 7.a, ``loans and leases past 
due 30 through 89 days '' and FR Y-11I, Schedule A, item 7.d, ``loans 
and leases restructured and included in past due and nonaccrual loans'' 
are confidential pursuant to Section (b)(8) of the Freedom of 
Information Act [5 U.S.C. 552(b)(8)].
    The FR Y-11I is filed annually by the top tier bank holding 
companies for each of their nonbank subsidiaries that are not required 
to file a quarterly FR Y-11Q. The FR Y-11I report consists of similar 
balance sheet, income statement, off-balance-sheet, and change in 
equity capital information that is included on the FR Y-11Q. In 
addition, the FR Y-11I also includes a loan schedule to be submitted 
only by respondents engaged in credit extending activities.
    The Federal Reserve proposes the following revisions to the FR Y-
11I to be effective with the December 31, 1996 reporting date:
Balance Sheet
    (1) Delete line items 11 and 18, ``Balances with nonrelated 
institutions.''
    (2) Revise the reporting requirements of line item 15, ``Borrowing 
with original maturity of one year or less (including federal funds 
purchased),'' and line item 16, ``Borrowing with an original maturity 
of more than one year (including subordinated debt),'' to collect 
information based on remaining maturity instead of original maturity as 
currently reported.
Income Statement
    Add a line item to report the amount of equity in the undistributed 
income (losses) of subsidiaries.
REGULATORY FLEXIBILITY ACT ANALYSIS
    The Board certifies that the above bank holding company reporting 
requirements are not expected to have a significant economic impact on 
small entities within the meaning of the Regulatory Flexibility Act (5 
U.S.C. 601 et seq.). The reporting requirements for the small companies 
require significantly fewer items of data to be submitted than the 
amount of information required of large bank holding companies.
    The information that is collected on the reports is essential for 
the detection of emerging financial problems, the assessment of a 
holding company's 

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financial condition and capital adequacy, the performance of pre-
inspection reviews, and the evaluation of expansion activities through 
mergers and acquisitions. The imposition of the reporting requirements 
is essential for the Board's supervision of bank holding companies 
under the Bank Holding Company Act.

    Board of Governors of the Federal Reserve System, December 27, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-00030 Filed 1-2-96; 8:45AM]
Billing Code 6210-01-F