[Federal Register Volume 63, Number 43 (Thursday, March 5, 1998)]
[Notices]
[Pages 10915-10916]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5753]


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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, 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 collection, which 
is being handled under this delegated authority, has received initial 
Board approval and is 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 the following:
    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 May 4, 1998.
ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to 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 261.14 of the Board's Rules Regarding Availability 
of Information, 12 CFR 261.14(a).
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Alexander T. Hunt, 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 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, Chief, Financial Reports Section (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 Diane Jenkins (202-452-3544), 
Board of Governors of the Federal Reserve System, Washington, DC 20551.
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following reports:
    1. Report titles: Notice By Financial Institutions of Government 
Securities Broker or Government Securities Dealer Activities; Notice By 
Financial Institutions of Termination of Activities as a Government 
Securities Broker or Government Securities Dealer
Agency form numbers: FR G-FIN, FR G-FINW
OMB control number: 7100-0224
Frequency: on occasion
Reporters: state member banks, foreign banks, uninsured state-chartered 
branches or state-chartered agencies of foreign banks, commercial 
lending companies owned or controlled by foreign banks, and Edge 
corporations
Annual reporting hours: 33 (32 hours for FR G-FIN; 1 hour for FR G-
FINW)
Estimated average hours per response: 1 hour for FR G-FIN; 15 minutes 
for FR G-FINW
Number of respondents: 37 (32 for FR G-FIN; 5 for FR G-FINW)
Small businesses are affected.
    General description of report: This information collection is 
mandatory (15 U.S.C. 78o-5(a)(1)(B)(ii)) and is not given confidential 
treatment.
    Abstract: Each financial institution that acts as a government 
securities broker or dealer is required to notify its appropriate 
regulatory authority of its broker-dealer activities, unless exempted 
from the notice requirement by Treasury Department regulation. 
Notification is required to record the intent to engage in government 
securities broker or dealer activity, to

[[Page 10916]]

amend information submitted previously, and to record termination of 
such activity. Financial institutions use forms G-FIN and G-FINW to 
fulfill these notification requirements. The Federal Reserve uses the 
information in its supervisory capacity to measure compliance with the 
Government Securities Act of 1986.
    Board of Governors of the Federal Reserve System, March 2, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-5753 Filed 3-4-98; 8:45AM]
BILLING CODE 6210-01-F