[Federal Register Volume 63, Number 165 (Wednesday, August 26, 1998)]
[Notices]
[Pages 45507-45508]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-22873]


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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, with revision, of the following report:
1. Report title: Bank Holding Company Report of Changes in Investments 
and Activities
    Agency form number: FR Y-6A
    OMB Control number: 7100-0124
    Effective date: November 1, 1998
    Frequency: on occasion
    Reporters: bank holding companies
    Annual reporting hours : 9,233
    Estimated average hours per response: 0.85
    Number of respondents: 2,263
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(b) and (c)) and is not routinely given 
confidential treatment. However, confidential treatment for the report 
information can be requested, in whole or part, in accordance with the 
instructions to the form.
    Abstract: The Bank Holding Company Report of Changes in Investments 
and Activities is an event-generated report filed by top-tier bank 
holding companies to report changes in regulated investments and 
activities made pursuant to the Bank Holding Company Act and Regulation 
Y. The report collects information relating to acquisitions, 
divestitures, changes in activities, and legal authority. The number of 
FR Y-6As submitted varies depending on the reportable activity engaged 
in by each bank holding company.
    The Federal Reserve has approved the following revisions to the FR 
Y-6A:
    (1) Simplification of the method in which investments are reported 
to provide only one legal code for the forty-six exempt nonbank 
activities permissible under Section 4(c)8 of the Bank Holding Company 
Act, eliminating forty-five codes;
    (2) Removal of the regulatory provision field from the Investments/
Activities Schedule and the addition of a new field to this schedule to 
capture the accounting method used (``Pooling of Interest'' or 
``Purchase or Assumption'') for mergers when the survivor is a bank;
    (3) Minor formatting changes to the cover page and the Investments/
Activities Schedule; and
    (4) Clarification of the instructions for reporting general 
partnerships, limited partnerships, and non-voting equity investments.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
1. Report title: Report of Foreign (Non-U.S.) Currency Deposits
    Agency form number: FR 2915
    OMB Control number: 7100-0237
    Frequency: quarterly
    Reporters: depository institutions
    Annual reporting hours: 390
    Estimated average hours per response: 0.5
    Number of respondents: 195
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(2) and 3105(b)(2)) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2915 collects weekly averages of the amounts 
outstanding for foreign (non-U.S.) currency deposits held at U.S. 
offices of depository institutions, converted to U.S. dollars and 
included in the FR 2900 (OMB No. 7100-0087), the principal deposits 
report that is used for the calculation of required reserves and for 
the construction of the monetary aggregates. Foreign currency deposits 
are subject to reserve requirements and, therefore, are included in the 
FR 2900. However, foreign currency deposits are not included in the 
monetary aggregates. The FR 2915 data are used to back foreign currency 
deposits out of the FR 2900 data for construction and interpretation of 
the monetary aggregates. The FR 2915 data also are used to monitor the 
volume of foreign currency deposits.
2. Report title: Written Security Program for State Member Banks
    Agency form number: FR 4004
    OMB Control number: 7100-0112
    Frequency: on occasion
    Reporters: state member banks
    Annual reporting hours: 47
    Estimated average hours per response: 0.5
    Number of respondents: 94
Small businesses are affected.
    General description of report: This recordkeeping requirement is 
mandatory (12 U.S.C. 1882, 248(a)(1), and 325). Because written 
security programs are maintained at state member banks, no issue of 
confidentiality under the Freedom of Information Act arises.
    Abstract: The FR 4004 information collection is a recordkeeping 
requirement contained in the Board's Regulation P (12 CFR 216), which

[[Page 45508]]

implements the Bank Protection Act of 1968. (Note that the final rule 
revising Regulation H adopted by the Board on July 7, 1998, 
incorporates the provisions of Regulation P into Regulation H and 
rescinds Regulation P effective October 1, 1998 (63 FR 37629).) Each 
state member bank must develop and implement a written security program 
and maintain it in the bank's records. There is no formal reporting 
form and the information is not submitted to the Federal Reserve.
3. Report title: Annual Report on Status of Disposition of Assets 
Acquired in Satisfaction of Debts Previously Contracted
    Agency form number: FR 4006
    OMB Control number: 7100-0129
    Frequency: annual
    Reporters: bank holding companies
    Annual reporting hours: 3,000
    Estimated average hours per response: 5
    Number of respondents: 600
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1842(a), 1843(c)(2), and 1844(c)) and may be given 
confidential treatment upon request (5 U.S.C. 552(b)(4)).
    Abstract: Bank holding companies that have acquired assets or 
shares through foreclosure in the ordinary course of collecting a debt 
previously contracted are required to submit the report for assets or 
shares that have been held beyond two years from the acquisition date. 
The report does not have a required format; bank holding companies 
submit the information in a letter. The letter contains information on 
the progress made to dispose of such assets or shares and allows the 
bank holding company to request an extension of time for holding such 
assets or shares.
4. Report title: Notice of Branch Closure
    Agency form number: FR 4031
    OMB Control number: 7100-0264
    Frequency: on occasion
    Reporters: state member banks
    Annual reporting hours: 783
    Estimated average hours per response: reporting: 2; disclosure: 1; 
recordkeeping: 8
    Number of respondents: reporting and disclosure: 226; 
recordkeeping: 13
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1831r-1) and may be given confidential treatment 
upon request (5 U.S.C. 552(b)(4)).
    Abstract: These reporting, recordkeeping, and disclosure 
requirements regarding the closing of any branch of an insured 
depository institution are imposed by section 228 of the Federal 
Deposit Insurance Corporation Improvement Act of 1991. There is no 
reporting form associated with the reporting portion of this 
information collection; state member banks notify the Federal Reserve 
by letter prior to closing a branch. The Federal Reserve uses the 
information to fulfill its statutory obligation to supervise state 
member banks.
5. Report title: Survey to Obtain Information on the Relevant Market in 
Individual Merger Cases
    Agency form number: FR 2060
    OMB Control number: 7100-0232
    Frequency: on occasion
    Reporters: small businesses and consumers
    Annual reporting hours: 55
    Estimated average hours per response: 10 minutes for small 
businesses, 6 minutes for consumers
    Number of respondents: 25 small businesses and 50 consumers per 
survey
Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 1817(j), 1828(c), and 1841 et seq.) and is given 
confidential treatment (5 U.S.C. 552(b)(4) and (b)(6)).
    Abstract: This telephone survey is designed to determine from what 
sources small businesses and consumers obtain financial services. The 
information is needed for specific merger and acquisition applications 
to determine relevant banking markets in the analysis of local market 
competition.
    Final approval under OMB delegated authority of the implementation 
of the following report:
1. Report title: Selected Balance Sheet Items for Discount Window 
Borrowers
    Agency form number: FR 2046
    OMB Control number: 7100-0289
    Frequency: on occasion
    Reporters: depository institutions
    Annual reporting hours: 3,091
    Estimated average hours per response: .75 hours for adjustment or 
extended credit borrowers; .25 hours for seasonal credit borrowers
    Number of respondents: 424 adjustment credit borrowers and 316 
seasonal credit borrowers, based on 1996 borrowing. There was no 
extended credit borrowing during 1996, which was representative of most 
recent years.
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. Secs.  347b and 248(a)(2) and (i)) and is given 
confidential treatment (5 Sec.  U.S.C. 552(b)(4)).
    Abstract: The Federal Reserve's Regulation A, ``Extensions of 
Credit by Federal Reserve Banks,'' (12 CFR 201) requires that Reserve 
Banks review balance sheet data in order to guard against inappropriate 
discount window borrowing situations. Currently, borrowers are 
requested to report certain balance sheet data for a period that 
encompasses the dates of borrowing. There is considerable variation 
across Districts in the specific data elements collected, in the time 
periods for which data are requested, and in the formats in which data 
are reported. The FR 2046 report standardizes these aspects of data 
collection across Reserve Banks.
    The Federal Reserve received two comments on the FR 2046 proposal. 
Two Reserve Banks submitted letters in support of the proposal.
    Board of Governors of the Federal Reserve System, August 20, 
1998.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 98-22873 Filed 8-25-98; 8:45AM]
Billing Code 6210-01-F