[Federal Register Volume 64, Number 143 (Tuesday, July 27, 1999)]
[Notices]
[Pages 40599-40600]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-19088]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY:
    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. 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.
    Request for comment on information collection proposals.
    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, 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 September 27, 1999.
ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW, 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, NW. 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

[[Page 40600]]

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. West, 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, with revision the following report:
    1. Report title: Application for a Foreign Organization to Become a 
Bank Holding Company.
    Agency form number: FR Y-1f.
    OMB control number: 7100-0119
    Frequency: Event-generated.
    Reporters: Foreign Banking Organizations.
    Annual reporting hours: 280 hours.
    Estimated average hours per response: 70 minutes.
    Number of respondents: 4 foreign banking organizations.
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1842(a) and 1844(a) and (c) and by Regulation Y 
(12 CFR 225.5(a) and 225.11(f)). The information provided in the 
application is not confidential unless the applicant specifically 
requests it and the Board approves the request.
    Abstract: Under the Bank Holding Company Act (BHCA), submission of 
this application is mandatory for any company organized under the laws 
of a foreign country seeking initial entry into the United States 
through the establishment or acquisition of a U.S. subsidiary bank. 
Applicants provide financial and managerial information and must 
discuss the competitive effects of the proposed transaction and how the 
proposed transaction would enhance the convenience and needs of the 
community to be served.
    2. Report title: Consumer Satisfaction Questionnaire.
    Agency form number: FR 1379.
    OMB control number: 7100-0135.
    Frequency: Event-generated.
    Reporters: Consumers.
    Annual reporting hours: 60 hours.
    Estimated average hours per response: 20 minutes.
    Number of respondents: 180 consumers.
Small businesses are affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 57 (a)(f)(1)) and is not given confidential 
treatment however, some respondents may provide information not 
specifically solicited on the form which may be exempt from disclosure 
under the Freedom of Information Act (5 U.S.C. 552 (b)(4), (b)(6), and 
(b)(7)).
    Abstract: The FR 1379 is used to determine whether complainants are 
satisfied with the way the Federal Reserve System handled their 
complaints and to solicit suggestions for improving the complaint-
handling process. The proposed revised questionnaire has been designed 
to collect more details related to the information already requested in 
the current questionnaire and to capture information about the 
demographic characteristics of consumers who file complaints about 
state member banks. Currently, the questionnaire is sent to consumers 
whose complaints against state member banks were referred by the Board 
of Governors to the appropriate Federal Reserve Bank for resolution. 
The Board plans to extend distribution of the questionnaire to all 
consumers who have complaints against state member banks.

    Board of Governors of the Federal Reserve System, July 21, 1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-19088 Filed 7-26-99; 8:45AM]
Billing Code 6210-01-F