[Federal Register Volume 63, Number 98 (Thursday, May 21, 1998)]
[Notices]
[Pages 27972-27973]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13641]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY:
    Background. Notice is hereby given of the final approval of 
proposed information collections 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). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the OMB 83-Is and supporting statements and 
approved collection of information instruments are placed into OMB's 
public docket files. 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 reports:
1. Report title: Annual Survey of Eligible Bankers Acceptances
    Agency form number: FR 2006
    OMB Control number: 7100-0055
    Frequency: annual
    Reporters: U.S. commercial banks, U.S. branches and agencies of 
foreign banks, Edge and agreement corporations
    Annual reporting hours: 46
    Estimated average hours per response: 0.65
    Number of respondents: 70
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a), 625, and 3105(b)) and is given 
confidential treatment (5 U.S.C. 522(b)(4)).
    Abstract: The FR 2006 report provides information on eligible U.S. 
dollar acceptances that are payable in the

[[Page 27973]]

United States. The data are used for constructing the monetary 
aggregates, a nonfinancial debt aggregate, and a measure of short- and 
intermediate-term business credit.
2. Report title: Notice of Proposed Stock Redemption
    Agency form number: FR 4008
    OMB control number: 7100-0131
    Frequency: on occasion
    Reporters: bank holding companies
    Annual reporting hours: 822
    Estimated average hours per response: 15.5
    Number of respondents: 53
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)) and is not given confidential treatment.
    Abstract: The Federal Reserve System requires a bank holding 
company (BHC), other than a well-run company, to give written notice to 
its District Federal Reserve Bank before purchasing or redeeming its 
equity securities (collectively, redeeming or redemption) if the 
consideration paid for the proposed redemption and other redemptions 
over the preceding twelve months is 10 percent or more of the company's 
consolidated net worth. There is no formal reporting form; the BHC 
notifies the Federal Reserve by letter prior to making the proposed 
redemption. The Federal Reserve uses the information to fulfill its 
statutory obligation to supervise bank holding companies.
3. Report title: Notice Claiming Status as an Exempt Transfer Agent
    Agency form number: FR 4013
    OMB control number: 7100-0137
    Frequency: on occasion
    Reporters: banks, bank holding companies, and trust companies
    Annual reporting hours: 16
    Estimated average hours per response: 2
    Number of respondents: 8
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 78q-l(c)(1)) and is not given confidential 
treatment.
    Abstract: Banks, bank holding companies, and trust companies 
subject to the Federal Reserve's supervision that are low-volume 
transfer agents voluntarily file the FR 4013 notice on occasion with 
the Federal Reserve Board. Transfer agents are institutions that 
provide securities transfer, registration, monitoring, and other 
specified services on behalf of securities issuers. The purpose of the 
notice, which is effective until the agent withdraws it, is to claim 
exemption from certain rules and regulations of the Securities and 
Exchange Commission (SEC). The Federal Reserve uses the notices for 
supervisory purposes because the SEC has assigned to the Federal 
Reserve responsibility for collecting the notices and verifying their 
accuracy through examinations of the respondents. The notice is made by 
letter; there is no reporting form.
    4. 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 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, May 15, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-13641 Filed 5-20-98; 8:45AM]
Billing Code 6210-01-F