[Federal Register Volume 66, Number 77 (Friday, April 20, 2001)]
[Notices]
[Pages 20306-20307]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-9798]


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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:

[[Page 20307]]

    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 June 19, 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 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, 
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.

Discontinuation of the Following Report

    Report title: Annual Survey of Eligible Bankers Acceptances.
    Agency form number: FR 2006.
    OMB control number: 7100-0055.
    Frequency: Annual.
    Reporters: U.S. commercial banks, U.S. branches and agencies of 
foreign banks, and Edge and agreement corporations with significant 
issuance of U.S dollar-denominated acceptances.
    Annual reporting hours: 27 hours.
    Estimated average hours per response: 0.65 hours.
    Number of respondents: 41.
    Small businesses are not affected.
    General description of report: The Board's Legal Division has 
previously determined that the FR 2006 is authorized by law (12 U.S.C. 
248(a), 625, and 3105(b)) and is voluntary. Individual respondent data 
are regarded as confidential under the Freedom of Information Act (5 
U.S.C. 522(b)(4)).
    Abstract: This voluntary survey provides detailed information on 
eligible U.S. dollar acceptances that are payable in the United States. 
The data have been used at the Board in constructing the monetary and 
credit aggregates, in constructing the domestic nonfinancial debt 
aggregate monitored by the Federal Open Market Committee (FOMC), and in 
calculating short- and intermediate-term business credit.
    Current actions: The Federal Reserve proposes to discontinue the FR 
2006 report. The usefulness of the report has declined in recent years 
due to three factors: (1) In December 1998 the Board stopped 
calculating L, the monetary aggregate that contained bankers 
acceptances (BAs); (2) Board staff has replaced the FR 2006 with the 
Consolidated Reports of Condition and Income as the source of BAs for 
calculating the debt aggregate; and (3) The relatively small size of 
the BA market at present has called into question the need for this 
survey. As a result, Board staff feels that estimates of BAs derived 
from the Call Report can be used in calculating short- and 
intermediate-term business credit.

    Board of Governors of the Federal Reserve System, April 16, 
2001.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 01-9798 Filed 4-19-01; 8:45 am]
BILLING CODE 6210-01-P