[Federal Register Volume 66, Number 54 (Tuesday, March 20, 2001)]
[Notices]
[Pages 15717-15719]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-6778]


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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 Proposal

    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 21, 2001.

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 mailed electronically to 
[email protected]. Comments addressed to Ms. Johnson may 
be delivered to the Board's mailroom between 8:45 a.m. and 5:15 p.m., 
and to the security control room outside of those hours. Both the 
mailroom 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 Sec. 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

[[Page 15718]]

name appears below. Mary M. West, Federal Reserve Board Clearance 
Officer (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 Capria 
Mitchell (202) 872-4984, 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: Notice of Proposed Stock Redemption.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Reporters: Bank holding companies.
    Annual reporting hours: 310 hours.
    Estimated average hours per response: 15.5 hours.
    Number of respondents: 20.
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)) and is not given confidential treatment.
    Abstract: The Federal Reserve System requires a bank holding 
company (BHC), other than a well-run company, to give written notice to 
its District Federal Reserve Bank before purchasing or redeeming its 
equity securities (collectively, redeeming or redemption) if the 
consideration paid for the proposed redemption and other redemptions 
over the preceding twelve months is 10 percent or more of the company's 
consolidated net worth. There is no reporting form; the BHC notifies 
the Federal Reserve by letter prior to making the proposed redemption. 
The Federal Reserve uses the information to fulfill its statutory 
obligation to supervise bank holding companies.
    2. Report title: Notice Claiming Status as an Exempt Transfer 
Agent.
    Agency form number: FR 4013.
    OMB control number: 7100-0137.
    Frequency: On occasion.
    Reporters: Banks, bank holding companies, and trust companies.
    Annual reporting hours: 12 hours.
    Estimated average hours per response: 2 hours.
    Number of respondents: 6.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 78q-1(c)(1)) and is not given confidential 
treatment.
    Abstract: Banks, bank holding companies, and trust companies 
subject to the Federal Reserve's supervision that are low-volume 
transfer agents voluntarily file the FR 4013 notice on occasion with 
Federal Reserve Board. Transfer agents are institutions that provide 
securities transfer, registration, monitoring, and other specified 
services on behalf of securities issuers. The purpose of the notice, 
which is effective until the agent withdraws it, is to claim exemption 
from certain rules and regulations of the Securities and Exchange 
Commission (SEC). The Federal Reserve uses the notices for supervisory 
purposes because the SEC has assigned to the Federal Reserve 
responsibility for collecting the notices and verifying their accuracy 
through examinations of the respondents. The notice is made by letter; 
there is no reporting form.
    3. Report title: Survey to Obtain Information on the Relevant 
Market in Individual Merger Cases.
    Agency form number: FR 2060.
    OMB control number: 7100-0232.
    Frequency: On occasion.
    Reporters: Small businesses and consumers.
    Annual reporting hours: 37 hours.
    Estimated average hours per response: 10 minutes for small 
businesses, 6 minutes for consumers.
    Number of respondents: 25 small businesses and 50 consumers per 
survey.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 1817(j), 1828 (c), and 1841 et seq.) and is given 
confidential treatment (5 U.S.C. 552(b)(4) and (b)(6)).
    Abstract: The Federal Reserve uses this telephone survey to 
determine the sources from which small businesses and consumers in a 
particular geographical area obtain financial services. The information 
is needed for specific merger and acquisition applications to determine 
relevant banking markets in the analysis of local market competition.

Proposal to Approve Under OMB Delegated Authority the Extension for 
Three Years, With Revision, of the Following Reports

    1. Report title: Weekly Report of Assets and Liabilities for Large 
Banks.
    Agency form number: FR 2416.
    OMB control number: 7100-0075.
    Frequency: Weekly.
    Reporters: U.S.-chartered commercial banks.
    Annual reporting hours: 18,850 hours.
    Estimated average hours per response: 7.25 hours.
    Number of respondents: 50.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225(a) and 248(a)(2)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    2. Report title: Weekly Report of Selected Assets.
    Agency form number: FR 2644.
    OMB control number: 7100-0075.
    Frequency: Weekly.
    Reporters: U.S.-chartered commercial banks.
    Annual reporting hours: 66,924 hours.
    Estimated average hours per response: 1.17 hours.
    Number of respondents: 1,100.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225(a) and 248(a)(2)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    3. Report title: Weekly Report of Assets and Liabilities for Large 
U.S. Branches and Agencies of Foreign Banks.
    Agency form number: FR 2069.
    OMB control number: 7100-0030.
    Frequency: Weekly.
    Reporters: U.S. branches and agencies of foreign (non-U.S.) banks.
    Annual reporting hours: 27,891 hours.
    Estimated average hours per response: 5.83 hours.
    Number of respondents: 92.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 3105(b)(2)) and is given confidential treatment (5 
U.S.C. 552(b)(4)).
    Abstract: The FR 2416 is a detailed, 47 item balance sheet that 
covers domestic offices of large U.S. chartered commercial banks. The 
FR 2644 collects 17 items covering investments and loans plus total 
assets and three memorandum items, two that disaggregate total 
borrowings between bank and nonbank sources and one for mortgage-backed 
securities. The FR 2069 is a detailed, 29 item balance sheet that 
covers large U.S. branches and agencies of foreign banks. These reports 
are collected as of each Wednesday.
    These three voluntary reports are mainstays of the Federal 
Reserve's reporting system from which data for analysis of current 
banking developments are derived. The FR 2416 is used on a standalone 
basis as the ``large domestic bank series.'' The other two reports are 
samples for estimating outstandings for the universe, using data for 
benchmarks from the quarterly commercial bank Consolidated Reports of 
Condition and Income (FFIEC 031-034; OMB No. 7100-0036) and the Report 
of Assets and Liabilities of U.S. Branches and Agencies of Foreign 
Banks (FFIEC 002; OMB No. 7100-0032) (Call

[[Page 15719]]

Reports). Data from all three reports, together with data from other 
sources, are used for constructing weekly estimates of bank credit, of 
sources and uses of bank funds, and of a balance sheet for the banking 
system as a whole. These estimates are used in constructing the bank 
credit component of the domestic nonfinancial debt aggregate.
    The Federal Reserve publishes the data in aggregate form in a 
statistical release that is followed closely by other government 
agencies, the banking industry, the financial press, and other users. 
This weekly H.8 statistical release, ``Assets and Liabilities of 
Commercial Banks in the United States,'' provides a balance sheet for 
the banking industry as a whole and disaggregated by its large 
domestic, small domestic, and foreign related components.
    Current Actions: The Federal Reserve proposes to revise the FR 2416 
and FR 2644 to conform with the March 31, 2001, and June 30, 2001, 
changes to the Consolidated Reports of Condition and Income (Call 
Report) (proposed FFIEC 031/041; OMB No. 7100-0036). These proposed 
changes to the FR 2416 and FR 2644 would be effective with the reports 
for July 4, 2001. The Federal Reserve will work with individual 
respondents that wish to implement the changes early due to 
reprogramming their systems for the March Call Report changes. The 
Federal Reserve also proposes to conform the FR 2069, beginning with 
the report for July 4, 2001, to changes, eliminations and reductions in 
detail on the Report of Assets and Liabilities of U.S. Branches and 
Agencies of Foreign Banks (FFIEC 002; OMB No. 71000032) effective June 
30, 2001.
    In addition to these revisions, on the FR 2416, The Federal Reserve 
proposes a minor redefinition of ``Commercial real estate loans'' to 
include loans secured by farmland. The Federal Reserve determined that 
real estate loans secured by farmland, currently reported in ``All 
other loans secured by real estate,'' are used primarily for the 
financing of land for production (a commercial purpose), rather than 
for financing the improvements on the land, such as farmhouses. Thus, 
the bulk of farm real estate loans have a commercial, rather than a 
residential, character.

    Board of Governors of the Federal Reserve System, March 14, 
2001.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 01-6778 Filed 3-19-01; 8:45 am]
BILLING CODE 6210-01-P