[Federal Register Volume 62, Number 153 (Friday, August 8, 1997)]
[Notices]
[Page 42795]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-20919]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Submission to OMB Under 
Delegated Authority

Background

    Notice is hereby given of the final approval of a proposed 
information collection by the Board of Governors of the Federal Reserve 
System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB 
Regulations on Controlling Paperwork Burdens on the Public). 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.
FOR FURTHER INFORMATION CONTACT:
Chief, Financial Reports Section--Mary M. McLaughlin--Division of 
Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202-452-3829)
OMB Desk Officer--Alexander T. Hunt--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503 (202-395-7860)
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    1. Report title: Report of Changes in Foreign Investments (Made 
Pursuant to Regulation K)
Agency form number: FR 2064
OMB Control number: 7100-0109
Frequency: On occasion
Reporters: U.S. member banks, bank holding companies, and Edge and 
agreement corporations
Annual reporting hours: 750
Estimated average hours per response: 0.50
Number of respondents: 50
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 602, 625 and 1844) and is given confidential 
treatment (5 U.S.C. 552(b) (4)).
    Abstract: Member banks, Edge and agreement corporations, and bank 
holding companies are required to file the FR 2064 to record changes in 
their international investments. Sections 25 and 25A of the Federal 
Reserve Act (FRA) and Sections 4(c)(13) and 4 (c)(14) of the Bank 
Holding Company Act govern the formation of Edge and agreement 
corporations and export trading companies and the international and 
foreign activities of U.S. banking organizations, including those of 
national banks, state member banks, Edge and agreement corporations, 
and bank holding companies. Pursuant to these statutory provisions, the 
Board adopted various regulatory provisions, all of which were 
consolidated in the Board's Regulation K, setting forth the procedures 
for making investments and engaging in activities under these statutes. 
Investments made under these procedures are reported on the FR 2064 
whenever the reporting criteria are met. The FR 2064 report is filed no 
later than the last day of the month following the month in which the 
reportable investment occurred.
    On December 29, 1995, the Board published proposed revisions to the 
FR 2064 in the Federal Register (60 FR 67357 - 67359) to be implemented 
as of March 31, 1996. On April 4, 1996, the Board published another 
notice (61 FR 15070) indicating that the implementation of these 
changes would be delayed while the Board contemplated revisions to 
Regulation K. Since the Board is still reviewing possible revisions to 
Regulation K, the FR 2064 has been extended for three years without 
change. When the review of Regulation K is complete, the Board will 
coordinate changes to the FR 2064 with any changes to the relevant 
portions of Regulation K. Respondents should continue to use the 
current form and instructions until further notice.
    Board of Governors of the Federal Reserve System, August 4, 
1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-20919 Filed 8-7-97; 8:45 am]
Billing Code 6210-01-F