[Federal Register Volume 64, Number 51 (Wednesday, March 17, 1999)]
[Notices]
[Pages 13204-13205]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-6427]



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FEDERAL RESERVE SYSTEM


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

AGENCY: Board of Governors of the Federal Reserve System
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 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. West--Division of Research 
and Statistics, Board of Governors of the Federal Reserve System, 
Washington, DC 20551. (202-452-3829)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.
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 Net Debit Cap
    Agency form number: FR 2226
    OMB control number: 7100-0217
    Frequency: annual
    Reporters: depository institutions, Edge and agreement 
corporations, U.S. branches and agencies of foreign banks
    Annual reporting hours: 2,160
    Estimated average hours per response: 1.0
    Number of respondents: 2,160
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(i), 248-l, and 464) and is given confidential 
treatment (5 U.S.C. 552 (b)(4)).
    Abstract: The Federal Reserve's payment system risk reduction 
policy relies in part on the efforts of individual institutions to 
identify, control, and reduce their exposure. Institutions that incur 
daylight overdrafts in their Federal Reserve accounts and wish to 
establish a capacity for overdrafts greater than that afforded by an 
exempt cap, or that use interaffiliate transfer arrangements, submit 
the FR 2226 resolutions.
    Final approval under OMB delegated authority of the extension for 
three years, with minor revision, of the following reports:
    1. Report title: Annual Daylight Overdraft Capital Report for U.S. 
Branches and Agencies of Foreign Banks
    Agency form number: FR 2225
    OMB control number: 7100-0216
    Frequency: annual
    Reporters: foreign banks with U.S. branches or agencies
    Annual reporting hours: 50
    Estimated average hours per response: 1.0
    Number of respondents: 50
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(i), 248-l, and 464) and is not given 
confidential treatment.
    Abstract: This report was implemented in March 1986 as part of the 
procedures used to administer the Federal Reserve's Payments System 
Risk Policy. Foreign banks with U.S. branches or agencies have the 
option of filing the FR 2225 to provide the Federal Reserve with their 
parent bank's worldwide capital figure. A percentage of this figure is 
used in place of publicly available data to calculate the bank's 
daylight overdraft limit. Because the FR 2225 data are based on the 
capital of the worldwide bank, not just its United States offices, 
foreign banks seeking to maximize their daylight overdraft limit may 
find it advantageous to file the FR 2225.
    Currently the FR 2225 data are treated as confidential. Because 
much of the data reported by respondents is publicly available, 
however, the Federal Reserve has determined upon review that it does 
not have the authority to treat all reports filed as confidential. The 
Federal Reserve changed the confidentiality statement on the form to a 
question to provide respondents an opportunity to request 
confidentiality treatment for any portion of the report.
    2. Report titles:
    Registration Statement for Persons Who Extend Credit Secured by 
Margin Stock (Other than Banks, Brokers, or Dealers);
    Deregistration Statement for Persons Registered Pursuant to 
Regulation U;
    Statement of Purpose for an Extension of Credit Secured by Margin 
Stock by a Person Subject to Registration Under Regulation U;
    Annual Report;
    Statement of Purpose for an Extension of Credit by a Creditor;
    Statement of Purpose for an Extension of Credit Secured by Margin 
Stock
    Agency form numbers: FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, FR U-1
    OMB control numbers:
    7100-0011: FR G-1, FR G-2, FR G-4
    7100-0018: FR G-3
    7100-0019: FR T-4
    7100-0115: FR U-1
    Frequency:
    FR G-1, FR G-2, FR G-3, FR T-4, FR U-1: on occasion
    FR G-4: annual
    Reporters: individuals and businesses
    Annual reporting hours: 1,688 reporting; 254,032 recordkeeping
    Estimated average hours per response:
    FR G-1: 2.5
    FR G-2: 15 minutes
    FR G-3: 10 minutes
    FR G-4: 2.0
    FR T-4: 10 minutes
    FR U-1: 10 minutes
    Number of respondents:
    FR G-1: 96
    FR G-2: 71
    FR G-3: 810
    FR G-4: 715
    FR T-4: 125
    FR U-1: 6,971
Small businesses are affected.
    General description of reports: This information collection is 
mandatory (FR G-1, FR G-3, FR G-4, FR T-4, FR U-1) or required to 
obtain a benefit (FR G-2) (15 U.S.C. 78g and 78w). The information in 
the FR G-1 and FR G-4 is given confidential treatment (5 U.S.C. 552 
(b)(4)). The FR G-2 does not contain confidential information. The FR 
G-3, FR T-4, and FR U-1 are not submitted to the Federal Reserve and, 
as such, no issue of confidentiality arises.
    Abstract: The Securities Exchange Act of 1934 authorizes the 
Federal Reserve to regulate securities credit issued by banks, brokers 
and dealers, and other lenders. The purpose statements, FR U-1, FR T-4, 
and FR G-3, are recordkeeping requirements for banks, brokers and 
dealers, and other lenders, respectively, to document the purpose of 
their loans secured by margin stock. Other lenders also must register 
and deregister with the Federal Reserve using the FR G-1 and FR G-2, 
respectively, and must file an annual report (FR G-4). The Federal 
Reserve

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uses the data to identify lenders subject to Regulation U (which now 
incorporates Regulation G), to verify compliance with Regulations T, U, 
and X, and to monitor margin credit.
    The revisions update the reports for recent modifications in the 
applicable regulations. The Federal Reserve amended Regulations G, T, 
U, and X effective April 1, 1998, to reflect changes in the Federal 
Reserve's statutory authority made by the National Securities Markets 
Improvement Act of 1996. None of the modifications result in 
substantive changes in the information collections.
    Board of Governors of the Federal Reserve System, March 11, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-6427 Filed 3-16-99; 8:45AM]
Billing Code 6210-01-F