[Federal Register Volume 65, Number 61 (Wednesday, March 29, 2000)]
[Notices]
[Pages 16617-16618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-7689]


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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 May 30, 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 Reports

    1. Report title: Senior Loan Officer Opinion Survey on Bank Lending 
Practices.
    Agency form numbers: FR 2018.
    OMB control number: 7100-0058.
    Frequency: Up to six times per year.
    Reporters: Large U.S. commercial banks and large U.S. branches and 
agencies of foreign banks.
    Annual reporting hours: 1,008.
    Estimated average hours per response: 2.0.
    Number of respondents: 84.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a), 324, 335, 3101, 3102, and 3105) and is 
given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2018 is conducted with a senior loan officer at 
each respondent bank, generally by means of a telephone interview, up 
to six times a year. The interview is administered by a Reserve Bank 
officer having in-depth knowledge of bank lending practices. The 
reporting panel consists of sixty large domestically chartered 
commercial

[[Page 16618]]

banks, distributed as evenly as possible across Federal Reserve 
Districts, and twenty-four large U.S. branches and agencies of foreign 
banks. The purpose of the survey is to provide primarily qualitative 
information pertaining not only to current price and flow developments 
but also to evolving techniques and practices in the U.S. banking 
sector. A significant fraction of the questions in each survey consists 
of unique questions on topics of timely interest. There is the option 
to survey other types of respondents (such as other depository 
institutions, bank holding companies, or corporations) should the need 
arise. The FR 2018 survey provides crucial information for monitoring 
and understanding the evolution of lending practices at banks and 
developments in credit markets generally.
    2. Report title: Senior Financial Officer Survey.
    Agency form number: FR 2023.
    OMB control number: 7100-0223.
    Frequency: Up to four times per year.
    Reporters: Commercial banks, other depository institutions, 
corporations or large money-stock holders.
    Annual reporting hours: 240.
    Estimated average hours per response: 1.0.
    Number of respondents: 60.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a, 248(a), and 263); confidentiality will be 
determined on a case-by-case basis.
    Abstract: The FR 2023 requests qualitative and limited quantitative 
information about liability management and the provision of financial 
services from a selection of sixty large commercial banks or, if 
appropriate, from other depository institutions or corporations. 
Responses are obtained from a senior officer at each participating 
institution through a telephone interview conducted by Reserve Bank or 
Board staff. The survey is conducted when major informational needs 
arise and cannot be met from existing data sources. The survey does not 
have a fixed set of questions; each survey consists of a limited number 
of questions directed at topics of timely interest.
    3. Report title: Consolidated Report of Condition and Income for 
Edge and Agreement Corporations.
    Agency form number: FR 2886b.
    OMB control number: 7100-0086.
    Frequency: Quarterly.
    Reporters: Edge and agreement corporations.
    Annual reporting hours: 3,566.
    Estimated average hours per response: 14.7 banking corporations, 
8.5 investment corporations.
    Number of respondents: 30 banking corporations, 53 investment 
corporations.
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 602 and 625) and is given confidential treatment 
(5 U.S.C. 552(b)(4)).
    Abstract: This report collects a balance sheet, income statement, 
and ten supporting schedules from banking Edge corporations and 
investment (nonbanking) Edge corporations. Information collected on the 
FR 2886b is used by the Federal Reserve to supervise Edge corporations, 
identify present and potential problems, and monitor and develop a 
better understanding of activities within the industry.
    The Federal Reserve proposes to make several clarifying updates to 
the reporting instructions to reflect the implementation of FASB 
Statement No. 133, ``Accounting for Derivative Instruments and Hedging 
Activities,'' to address the reporting of inactive corporations, and to 
clarify the reporting of certain International Banking Facility 
transactions.

Proposal To Approve under OMB Delegated Authority the Extension for 
Three Years, With Revision, of the Following Report:

    1. Report title: Report of Repurchase Agreements (RPs) on U.S. 
Government and Federal Agency Securities with Specified Holders.
    Agency form number: FR 2415.
    OMB control number: 7100-0074.
    Frequency: Weekly, quarterly, or annually.
    Reporters: U.S.-chartered commercial banks, U.S. branches and 
agencies of foreign banks, and thrift institutions.
    Annual reporting hours: 2,754.
    Estimated average hours per response: 0.5.
    Number of respondents: 84 weekly, 153 quarterly, and 528 annually.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a)(2) and 3105(b)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: This report collects one data item--repurchase agreements 
(RPs) in denominations of $100,000 or more, in immediately-available 
funds, on U.S. government and federal agency securities, transacted 
with specified holders. It is filed by three reporting panels of 
depository institutions with different reporting frequencies (weekly, 
quarterly, and annual). The weekly panel reports daily data once each 
week. The quarterly panel files daily data for four one-week reporting 
periods that contain quarter-end dates. The annual panel reports daily 
data only for the week encompassing June 30 each year. Data from the FR 
2415 supply information necessary for construction of the M3 monetary 
aggregate.
    Current Actions: The Federal Reserve proposes two changes to this 
report: (1) to raise the thresholds for re-screening existing 
respondents on two of the three reporting panels (weekly and quarterly) 
and (2) to adjust the cutoff for screening thrift institutions that do 
not file the FR 2415 to accommodate a definition change on the report 
of condition for thrift institutions. The Federal Reserve estimates the 
proposed revision would decrease the annual reporting burden by 314 
hours and annual respondent costs by approximately $6,280.

    Board of Governors of the Federal Reserve System, March 23, 
2000.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 00-7689 Filed 3-28-00; 8:45 am]
BILLING CODE 6210-01-P