[Federal Register Volume 61, Number 63 (Monday, April 1, 1996)]
[Notices]
[Pages 14306-14308]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7812]



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FEDERAL RESERVE SYSTEM


Agency information collection activities: Proposed collection; 
comment request

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 
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 instruments 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 collections, 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 the following:
    (a) whether the proposed collections of information are 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 collections, 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 collections on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.
    DATES: Comments must be submitted on or before May 31, 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

[[Page 14307]]
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: Copies of the proposed forms and 
instructions, the Paperwork Reduction Act Submissions (OMB 83-I), 
supporting statements, 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.
    Proposal to approve under OMB delegated authority the extension, 
with revision, of the following reports:
    1. Report title: Weekly Report of Assets and Liabilities for Large 
Banks and Weekly Report of Selected Assets
Agency form number: FR 2416 and FR 2644
OMB control number: 7100-0075
Frequency: Weekly
Reporters: U.S. commercial banks
    Annual reporting hours: As the proposal calls for reductions in 
both the number of items and the number of respondents, the burden that 
the Federal Reserve imposes on the public by collecting the FR 2416 
will be less than the current burden. Since the number of items 
collected on the FR 2644 is increasing while the authorized panel size 
remains constant, the burden imposed by the collection of this report 
will increase. Estimates of the burdens of the revised reports will be 
prepared in consultation with respondents.
    Estimated average hours per response: The Federal Reserve requests 
estimates from respondents.
Number of respondents: 139 on the FR 2416 and 1,100 on the less 
detailed FR 2644
Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. Secs.  225(a) and 248(a)(2)) and is given 
confidential treatment (5 U.S.C. Sec.  552(b)(4)).
    Abstract: These two voluntary reports are mainstays of the 
reporting system from which data for analysis of current banking 
developments are derived. The FR 2416 is used on a stand-alone basis as 
the ``large domestic bank series.'' Both reports, together with data 
from other sources, are used for constructing weekly estimates of bank 
credit, of sources and uses of bank funds, and of a balance sheet for 
the banking system as a whole. These estimates also are used in 
constructing the bank credit component of the domestic non-financial 
debt aggregate monitored by the Federal Open Market Committee (FOMC).
    The Federal Reserve publishes the data in aggregate form in two 
statistical releases that are followed closely by other government 
agencies, the banking industry, the financial press, and other users. 
These are the weekly statistical releases Assets and Liabilities of 
Commercial Banks in the United States (H.8) which provides a balance 
sheet for the banking industry as a whole and Weekly Consolidated 
Condition Report of Large Commercial Banks in the United States (H.4.2) 
which provides aggregates both for large commercial banks and for large 
U.S. branches and agencies of foreign banks.
    2. Report title: Weekly Report of Assets and Liabilities for Large 
U.S. Branches and Agencies of Foreign Banks
Agency form number: FR 2069
OMB control number: 7100-0030
Frequency: Weekly
Reporters: Large U.S. branches and agencies of foreign banks
    Annual reporting hours: As the proposal calls for increasing the 
number of FR 2069 respondents and the number of items collected, the 
burden that the Federal Reserve imposes on the public by collecting the 
FR 2069 will increase. An estimate of the burden of the revised report 
will be prepared in consultation with respondents.
    Estimated average hours per response: The Federal Reserve requests 
estimates from respondents.
Number of respondents: 90
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. Sec.  3105(b)(2)) and is given confidential 
treatment (5 U.S.C. Sec.  552(b)(4)).
    Abstract: This voluntary report is a mainstay of the reporting 
system from which data for analysis of current banking developments are 
derived. The report, together with data from other sources, is used for 
constructing weekly estimates of bank credit, of sources and uses of 
bank funds, and of a balance sheet for the banking system as a whole.
    The Federal Reserve publishes the data in aggregate form in two 
statistical releases that are followed closely by other government 
agencies, the banking industry, the financial press, and other users. 
These are the weekly statistical releases Assets and Liabilities of 
Commercial Banks in the United States (H.8) which provides a balance 
sheet for the banking industry as a whole and Weekly Consolidated 
Condition Report of Large Commercial Banks in the United States (H.4.2) 
which provides aggregates both for large commercial banks and for large 
U.S. branches and agencies of foreign banks.
    3. Report title: Domestic Finance Company Report of Consolidated 
Assets and Liabilities
Agency form number: FR 2248
OMB control number: 7100-0005
Frequency: Monthly
Reporters: Finance companies
Annual reporting hours: 1,920
Estimated average hours per response: 1.3I10Number of respondents: 120
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. Sec. 225(a)) and is given confidential treatment 
(5 U.S.C. Sec. 552(b)(4)).
    Abstract: The FR 2248 collects balance sheet data on major 
categories of consumer and business credit receivables and on major 
short-term liabilities. For quarter-end months (March, June, September, 
and December), the report collects information on other assets and 
liabilities outstanding as well as information on capital accounts in 
order to provide a full balance sheet.
    The authorized size of the FR 2248 reporting panel is 142 finance 
companies; the Federal Reserve proposes to reduce the authorized panel 
size to 120 finance companies. The current FR 2248 reporting form 
broadly classifies finance company assets as retail, wholesale, lease, 
or other. The Federal Reserve proposes to reorganize the form by 
classifying assets as consumer-, real estate-, business-, or lease-
related to make the form more compatible with respondents' accounting 
procedures and thus reduce burden. There are no changes to the 
liabilities items. In the supplemental section, several items were 
added, and securitization items were reorganized to be consistent with 
the proposed assets classifications.
    4. Report title: Finance Company Survey
Agency form number: FR 3033s
OMB control number: 7100-0277
Frequency: One-time
Reporters: Finance companies
Annual reporting hours: 840
Estimated average hours per response: 1.4
Number of respondents: 600

[[Page 14308]]

Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. Secs. 225(a), 263, 353-359) and is given 
confidential treatment (5 U.S.C. Sec. 552(b)(4)).
    Abstract: The FR 3033s survey, which is collected about every five 
years, asks for detailed information on the assets and liabilities of a 
stratified random sample of domestic finance companies. The sample is 
based on the responses from the first stage of the survey, the Finance 
Company Questionnaire (FR 3033p; OMB No. 7100-0277). From the FR 3033p 
questionnaires returned, the Federal Reserve will determine which of 
the respondents are eligible for the FR 3033s panel. Companies will be 
removed from the potential FR 3033s panel if they report that they are 
out of business, are not a finance company, or are a subsidiary of a 
bank. The survey sample will be stratified by size groups based on 
total receivables and by specialization in receivables and will include 
all FR 3033p respondents that reported at least $10 million in total 
receivables. For coverage of smaller respondents, the survey sample 
will include all smaller companies that currently file the FR 2248 plus 
a sufficient number of other smaller companies to provide adequate 
representation. Proportional allocation will be used to draw a random 
sample.
    The 1990 FR 3033s reporting form broadly classified finance company 
assets as retail, wholesale, lease, or other. The Federal Reserve 
proposes to reorganize the information by classifying assets as 
consumer-, real estate-, business-, or lease-related to make the form 
more compatible with existing accounting procedures of the respondents 
and to make the form easier to complete. There is one minor 
consolidation in the liabilities items. In the supplemental section, 
several items were added, and securitization items were reorganized to 
be consistent with the proposed assets classifications.
    Board of Governors of the Federal Reserve System, March 26, 1996
William W. Wiles,
Secretary of the Board.
[FR Doc. 96-7812 Filed 3-29-96; 8:45 am]
Billing Code 6210-01-F