[Federal Register Volume 65, Number 8 (Wednesday, January 12, 2000)]
[Notices]
[Pages 1893-1894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-673]



[[Page 1893]]

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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 March 13, 2000.

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 a.m. and 5 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 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, Without Revision, of the Following Report

    1. Report title: Interagency Notice of Change in Control, 
Interagency Notice of Change in Director or Senior Executive Officer, 
and Interagency Biographical and Financial Report.
    Agency form numbers: FR 2081a, FR 2081b, and FR 2081c.
    OMB control number: 7100-0134.
    Frequency: On occasion.
    Reporters: Financial institutions and certain of their officers and 
shareholders.
    Annual reporting hours: Interagency Notice of Change in Control--
4,800 hours; Interagency Notice of Change in Director or Senior 
Executive Officer--150 hours; Interagency Biographical and Financial 
Report--5,100 hours; Total--10,050 hours.
    Estimated average hours per response: Interagency Notice of Change 
in Control--30 hours; Interagency Notice of Change in Director or 
Senior Executive Officer--2 hours; Interagency Biographical and 
Financial Report--4 hours.
    Number of respondents: Interagency Notice of Change in Control--
160; Interagency Notice of Change in Director or Senior Executive 
Officer--75; Interagency Biographical and Financial Report--1,275.
    Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1817(j) and 12 U.S.C. 1831(i)) and is not given 
confidential treatment.
    Abstract: In 1996 a Federal Financial Institutions Examination 
Council task force adapted, reformatted, and retitled the three 
reports, pursuant to the Riegle Community Development and Regulatory 
Improvement Act of 1994.
    The Federal Reserve uses the biographical portions of the 
collections to evaluate the competence, experience, character, and 
integrity of persons proposed as organizers, senior executive officers, 
directors, or principal shareholders. The financial portion is used to 
evaluate the financial ability of persons proposed as organizers, 
senior executive officers, directors, or principal shareholders. The 
reports are also used to allow or disapprove proposed acquisitions. The 
reporting forms allow applicants greater efficiency in the interagency 
application process including eliminating duplicative filings.

Proposals To Approve Under OMB Delegated Authority the Extension 
for Three Years, With Revisions, of the Following Reports

    1. Report title: The Weekly Report of Eurodollar Liabilities Held 
by Selected U.S. Addressees at Foreign Offices of U.S. Banks.
    Agency form number: FR 2050.
    OMB control number: 7100-0068.
    Frequency: Weekly.
    Reporters: Foreign branches and banking subsidiaries of U.S. 
depository institutions.
    Annual reporting hours: 2,236 burden hours.
    Estimated average hours per response: 1.0 hour.
    Number of respondents: 43.
    Small businesses are not affected.

[[Page 1894]]

    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a)(2), 353 et seq., 461, 602, and 625). 
Individual respondents data are confidential under section (b)(4) of 
the Freedom of Information Act (5 U.S.C. 552(b)(4)).
    Abstract: The report collects data on Eurodollar deposits payable 
to nonbank U.S. addressees from foreign branches and subsidiaries of 
U.S. commercial banks and Edge and agreement corporations. The data are 
used for the construction of the Eurodollar component of the monetary 
aggregates and for analysis of banks' liability management practices.
    Current Actions: The Federal Reserve proposes that the reporting 
cutoff be raised from a weekly average of $350 million to $500 million 
in Eurodollar liabilities.
    2. Report title: The Quarterly Report of Assets and Liabilities of 
Large Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Reporters: Large foreign branches and banking subsidiaries of U.S. 
depository institutions.
    Annual reporting hours: 13,132 hours.
    Estimated average hours per response: 3.5 hours.
    Number of respondents: 938.
    Small businesses are not affected.
    General description of report: This information collection is 
required (12 U.S.C.248(a)(2), 353 et seq., 461, 602, and 625) and is 
given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The report collects gross assets and liability positions 
from foreign branches and subsidiaries of U.S. commercial banks and 
Edge and agreement corporations vis-a-vis individual countries. A 
separate schedule collects information on Eurodollar liabilities 
payable to certain U.S. addressees.
    Current Actions: The Federal Reserve proposes to add the European 
Central Bank to the country list. In addition, the instructions would 
be clarified to say that U.S. banks report only for subsidiaries that 
have a banking charter and are engaged in banking business.

Proposal To Approve Under OMB Delegated Authority To Conduct, 
Without Revision, of the Following Report

    1. Report title: The Quinquennial Finance Company Questionnaire and 
Survey.
    Agency form number: FR 3033p/s.
    OMB control number: 7100-0277.
    Frequency: One-time.
    Reporters: Domestic finance companies.
    Annual reporting hours: Questionnaire, 750 hours; Survey, 840 
hours.
    Estimated average hours per response: Questionnaire, 0.25 hours; 
Survey, 1.4 hours.
    Number of respondents: Questionnaire, 3000; Survey, 600.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a, 263, and 353-359) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: Since 1995 the Federal Reserve has conducted surveys of 
domestic finance companies every five years on consumer and business 
credit and on major assets and liabilities of finance companies. The 
first stage is a simple questionnaire (FR 3033p) which is sent to all 
domestic finance companies. The questionnaire asks for information on 
each company's total receivables, areas of specialization, and other 
characteristics. From the universe of FR 3033p respondents, the Federal 
Reserve will draw a stratified random sample for the survey itself (FR 
3033s). The survey will request detailed information, as of June 30, 
2000, from both sides of the respondents' balance sheet.

Proposal To Approve Under OMB Delegated Authority To Conduct the 
Following Surveys

    1. Report title: Customer Satisfaction Survey of Federal Reserve 
Bulletin Subscribers, and Customer Satisfaction Survey of Publication 
Subscribers.
    Agency form numbers: FR 1371; and FR 1372.
    OMB control number: 7100-0291.
    Frequency: One-time.
    Reporters: Federal Reserve Bulletin subscribers; and Federal 
Reserve publications subscribers.
    Annual reporting hours: FR 1371, 100; and FR 1372, 100.
    Estimated average hours per response: 0.25 hours per survey.
    Number of respondents: 400 per survey.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C 248i). The individual date is not considered 
confidential.
    Abstract: The Customer Satisfaction Survey of Federal Reserve 
Bulletin Subscribers (FR 1371) would solicit comments on the content 
and usefulness of the Federal Reserve's monthly Bulletin from a sample 
of subscribers. The staff is focusing on the Bulletin because the Board 
devotes substantial resources to this publication and would use the 
information from this survey to determine whether the Board should 
continue to publish the Bulletin in its current form. The Customer 
Satisfaction Survey of Publication Subscribers (FR 1372) would solicit 
comments on the quality of the customer service provided by the Board's 
Publications Services Department. The information would be used to 
assess whether the needs of the Board's subscribers are being met in a 
courteous and expeditious manner and whether changes should be made to 
the ordering and payment policies and processes in order to increase 
efficiency and customer satisfaction.

Discontinuation of the Following Report

    1. Report title: Report of Medium Term Note Issuance.
    Agency form number: FR 2600.
    OMB control number: 7100-0245.
    Effective Date: Friday, March 31, 2000.
    Frequency: Monthly, quarterly, or semi-annually.
    Reporters: U.S. firms filing SEC shelf registration statements for 
medium term notes.
    Annual reporting hours: 94 burden hours.
    Estimated average hours per response: 0.083 hours.
    Number of respondents: 424.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 225a and 353 et seq.). Respondent data are not 
regarded as confidential.
    Abstract: The FR 2600 collects information on the monthly volume of 
medium-term notes issued by corporations.
    Current Actions: The Federal Reserve proposes to discontinue the FR 
2600. The report has become unnecessary because data are now obtained 
from the Depository Trust Corporation, a national clearing house that 
collects data on medium-term notes issued in the course of its business 
of clearing and settling securities and acting as trustee for holders 
of securities.

    Board of Governors of the Federal Reserve System, January 6, 
2000.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 00-673 Filed 1-11-00; 8:45 am]
BILLING CODE 6210-01-P