[Federal Register Volume 64, Number 166 (Friday, August 27, 1999)]
[Notices]
[Pages 46914-46915]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-22262]
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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 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 instrument(s) 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); 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 Condition for Foreign Subsidiaries of
U.S. Banking Organizations and Financial Information for Foreign
Subsidiaries of U.S. Banking Organizations.
Agency form number: FR 2314 a, b, and c.
OMB control number: 7100-0073.
Frequency: Quarterly and annually.
Reporters: Foreign subsidiaries of U.S. banks, bank holding
companies, and Edge and agreement corporations.
Annual reporting hours: 6,825 burden hours.
Estimated average hours per response: 1.5 to 10.5 hours.
Number of respondents: 1,362.
Small businesses are not affected.
General description of report: This information collection is
mandatory (12 U.S.C. 324, 602, 625, and 1844(c)) data are exempt from
disclosure pursuant to Sections (b)(4) and (b)(8) of the Freedom of
Information Act (5 U.S.C. 552(b)(4) and (8)).
Abstract: The FR 2314 is the only source of comprehensive and
systematic data on the assets, liabilities, and earnings of the foreign
bank and nonbank subsidiaries of U.S. banking organizations and is used
to monitor the growth, profitability, and activities of these foreign
companies. The FR 2314a collects information on assets and liabilities
and includes several memoranda items on contingent liabilities and
twelve supporting schedules. The supporting schedules provide detail on
cash and balances due from depository institutions, securities, loans
and lease financing receivables, other assets, claims on related
organizations, deposits, other liabilities, liabilities to related
organizations, changes in capital and reserve accounts, income and
expenses, assets held in trading accounts, and past due and nonaccrual
loans and leases. The FR 2314b collects somewhat less information on
assets and liabilities, off-balance-sheet items, income and expenses,
and securities. The FR 2314c is a brief one-page report that collects
information on total assets, equity capital, net income, and off-
balance-sheet items.
Final Approval Under OMB Delegated Authority of the Extension for
Three Years, With Revisions, of the Following Reports
1. Report title: Domestic Finance Company Report of Assets and
Liabilities.
Agency form number: FR 2248.
OMB control number: 7100-0005.
Frequency: Monthly.
Reporters: Domestic finance companies.
[[Page 46915]]
Annual reporting hours: 800 burden hours.
Estimated average hours per response: 40 minutes.
Number of respondents: 100
Small businesses are not affected.
General description of report: This information collection is
voluntary (12 U.S.C. 225(a)). Individual respondents data are
confidential under section (b)(4) of the Freedom of Information Act (5
U.S.C. 552(b)(4)).
Abstract: The FR 2248 collects balance sheet data on major
categories of consumer and business credit receivables and on major
short-term liabilities. For quarter-end months (March, June, September,
and December), the report collects information on other assets and
liabilities outstanding as well as information on capital accounts in
order to provide a full balance sheet. The Federal Reserve reduced the
authorized size of the FR 2248 reporting panel from 120 finance
companies to 100 finance companies.
2. Report title: Financial Statements for a Bank Holding Company
Subsidiary Engaged in Bank-Ineligible Securities Underwriting and
Dealing.
Agency form number: FR Y-20.
OMB control number: 7100-0248.
Effective date: September 30, 1999.
Frequency: Quarterly.
Reporters: Bank holding companies.
Annual reporting hours: 2,568 burden hours.
Estimated average hours per response: 12.35 hours.
Number of respondents: 52.
Small businesses are not affected.
General description of report: This information collection is
mandatory (12 U.S.C. 1844(b) and (c)). Individual respondents data are
confidential under section (b)(4) of the Freedom of Information Act (5
U.S.C. 552(b)(4)).
Abstract: The FR Y-20 report is filed by bank holding companies
that have received the Board's approval by Order to engage in limited
underwriting and dealing in securities, including all types of debt and
equity securities that a bank may not underwrite or deal in directly.
The FR Y-20 report contains a balance sheet (Schedule SUD), a
supporting schedule of securities owned, including money market
obligations (Schedule SUD-A), a statement of income (Schedule SUD-I),
and a statement of changes in stockholders' equity (Schedule SUD-SE).
Several of these schedules also include various memoranda items, such
as intercompany liabilities, off-balance sheet items, and year-to-date
income and expenses.
Current Actions: The Federal Reserve is making several limited
changes to the FR Y-20. The first is amending the cover page of the
report to include a structure indicator box to denote if the report is
prepared on a consolidated or unconsolidated basis of accounting. The
Federal Reserve is also making the following changes to the report's
balance sheet: (1) the inclusion of a line item for Loans and leases
held for trading (line item 11), and (2) the inclusion of a contra-
asset line item, Allowance for losses from loans and leases held for
trading (line item 11.a). In addition, the Federal Reserve is changing
the statement of income by: (1) adding a structure indicator box on the
first page to denote whether a consolidated, unconsolidated or parent-
only statement of income is being submitted and (2) amending expense
line item 16 to include exchange fees. The FR Y-20 instructional
changes include providing organizational reporting structure guidance
and revising the instructions due to changes in Board Orders and Board
Legal Division opinions, changes in accounting standards, and guidance
promulgated by the Financial Accounting Standards Board and the
American Institute of Certified Public Accounts. The instructions also
include other clarifications and minor editorial changes.
Discontinuance of the Following Report Under OMB Delegated
Authority
1. Report title: Report of Broker Carrying Margin Accounts.
Agency form number: FR 2240.
OMB control number: 7100-0001.
Effective Date: Wednesday, June 30, 1999.
Frequency: Annual.
Reporters: Member firms of the New York or American Stock Exchange
that carry customer margin accounts as of the end of June.
Annual reporting hours: 246 burden hours.
Estimated average hours per response: 2.7 hours.
Number of respondents: 91.
Small businesses are affected.
General description of report: The Board's Legal Division
previously has determined that this report is authorized by law (15
U.S.C. 78q(g)). Individual respondent data are regarded as confidential
under the Freedom of Information Act (5 U.S.C. 552(b)(4)).
Abstract: The FR 2240 collects certain balance sheet information
from securities brokers and dealers carrying margin accounts in order
to regulate margin credit.
Current Actions: The Division of Research and Statistics is
discontinuing the FR 2240. The report has become unnecessary because
the vast majority of reporters already submits margin credit data to
the New York Stock Exchange, which makes the data available on an
aggregate basis to the Board of Governors and the general public.
Board of Governors of the Federal Reserve System, August 23,
1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-22262 Filed 8-26-99; 8:45am]
Billing Code 6210-01-F