[Federal Register Volume 61, Number 22 (Thursday, February 1, 1996)]
[Notices]
[Page 3713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2076]



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FEDERAL RESERVE SYSTEM

Proposed Agency Information Collection Activities; Comment

AGENCY: Board of Governors of the Federal Reserve System (Board)

ACTION: Notice and request for comment.

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BACKGROUND: In accordance with the requirements of the Paperwork 
Reduction Act of 1995 (44 U.S.C. chapter 35), the Board 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 
Office of Management and Budget (OMB) control number. The following 
currently approved collection of information has received approval from 
the Federal Financial Institutions Examination Council (FFIEC), of 
which the Board is a member, and is hereby published for comment. At 
the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the 
information collection may be modified prior to the agencies' 
submission of them to OMB for review and approval. Comments are invited 
on:

    (a) whether the collection of information is necessary for the 
proper performance of the agencies' functions, including whether the 
information has practical utility;

    (b) the accuracy of the agencies' estimate of the burden of the 
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 April 1, 1996.
ADDRESSES: Interested parties are invited to submit written comments 
the agency listed below. All comments should refer to the OMB control 
number.
    Written comments should be addressed to Mr. William W. Wiles, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, N.W., Washington, D.C. 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 agencies: Milo Sunderhauf, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, D.C. 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the reporting form and 
instructions may be requested from the agency clearance officers whose 
name appears below.
    Mary M. McLaughlin, Board Clearance Officer, (202) 452-3829, 
Division of Research and Statistics, Board of Governors of the Federal 
Reserve System, 20th and C Streets, N.W., Washington, D.C. 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, 20th and C Streets, N.W., Washington, D.C. 
20551.
SUPPLEMENTARY INFORMATION:
    Proposal to extend, without revision, the following currently 
approved collection of information:
Title: Monthly Consolidated Foreign Currency Report
Form Number: FFIEC 035
OMB Number: 7100-0178.
Frequency of Response: Monthly.
Affected Public: U.S. banks and U.S. branches and agencies of foreign 
banks.
Estimated Number of Respondents: 116
Estimated Time per Response: 12.68 burden hours.
Estimated Total Annual Burden: 17,651 burden hours.
    General Description of Report: This information collection is 
mandatory: 12 U.S.C. 248(a) and 1844(c) and is given confidential 
treatment.

Small businesses are not affected.

    Abstract: The data collected on the monthly report is used 
primarily by the three federal bank regulatory agencies (i.e., the 
Board, the Office of the Comptroller of the Currency, and the Federal 
Deposit Insurance Corporation) to monitor the foreign exchange 
activities of individual U.S. banks and banking institutions. On an 
aggregate basis, the three agencies make considerable use of the data 
in monitoring and analyzing developments in foreign exchange markets. 
Such data are used to identify changing market practices and bank 
reactions to disruptions in foreign exchange markets. On an individual 
bank basis, the data are used in monitoring a bank's foreign exchange 
activities to assure that they are being conducted in a safe and sound 
manner. The report is collected and processed by the Federal Reserve on 
behalf of the three agencies. The proposed extension, without revision, 
of the Monthly Consolidated Foreign Currency Report (FFIEC 035) that is 
the subject of this notice has been approved by the FFIEC for 
implementation as of the March 31, 1996, report date.

Request for Comment

    Comments submitted in response to this Notice will be summarized or 
included in the agencies' requests for OMB approval. All comments will 
become a matter of public record. Written comments should address the 
accuracy of the burden estimates and ways to minimize burden including 
the use of automated collection techniques or the use of other forms of 
information technology as well as other relevant aspects of the 
information collection request.


    Board of Governors of the Federal Reserve System, January 26, 
1996.

William W. Wiles,

Secretary of the Board.

[FR Doc. 96-2076 Filed 1-31-96; 8:45AM]

BILLING CODE 6210-01-F