[Federal Register Volume 66, Number 150 (Friday, August 3, 2001)]
[Notices]
[Pages 40702-40703]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-19373]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

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

[[Page 40703]]

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: Federal Reserve Board Clearance 
Officer--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 Reports

    1. Report title: Report of Selected Balance Sheet Items for 
Discount Window Borrowers.
    Agency form number: FR 2046.
    OMB Control number: 7100-0289.
    Frequency: On occasion.
    Reporters: Depository institutions.
    Annual reporting hours: 2,654 hours.
    Estimated average hours per response: 0.75 hours for adjustment or 
extended credit borrower; 0.25 hours for seasonal credit borrowers.
    Number of respondents: 684.
    Small businesses are affected.
    General description of report: This information collection is 
required by sections 10B, 11(a)(2), and 11(i) of the Federal Reserve 
Act (12 U.S.C. 347b and 248(a)(2) and (i)) and individual respondent 
data are regarded as confidential (5 U.S.C. 552(b)(4)).
    Abstract: The Federal Reserve's Regulation A, ``Extensions of 
Credit by Federal Reserve Banks,'' requires that Reserve Banks review 
balance sheet data in order to guard against inappropriate discount 
window borrowing situations. Borrowers report certain balance sheet 
data for a period that encompasses the dates of borrowing.
    2. Report title: Annual Report on Status of Disposition of Assets 
Acquired in Satisfaction of Debts Previously Contracted.
    Agency form number: FR 4006.
    OMB Control number: 7100-0129.
    Frequency: Annual.
    Reporters: Bank holding companies.
    Annual reporting hours: 3,000 hours.
    Estimated average hours per response: 5 hours.
    Number of respondents: 600.
    Small businesses are affected.
    General description of report: This information collection is 
required (12 U.S.C.Secs. 1842(a) and 1843(c)(2)) and may be given 
confidential treatment upon request (5 U.S.C. Sec. 552(b)(4)).
    Abstract: Bank holding companies that have acquired assets or 
shares through foreclosure in the ordinary course of collecting a debt 
previously contracted (DPC) are required to submit the report annually 
for assets or shares that have been held beyond two years from the 
acquisition date. The report does not have a required format; bank 
holding companies submit the information in a letter. The letter 
contains information on the progress made to dispose of such assets or 
shares and also requests permission for a one-year extension to hold 
them, as applicable. The Federal Reserve may grant requests for up to 
three one-year extensions. This report is required pursuant to the 
Board's authority under the Bank Holding Company Act and Regulation Y. 
The Federal Reserve uses the information to fulfill its statutory 
obligation to supervise bank holding companies.
    3. Report title: Notice of Branch Closure.
    Agency form number: FR 4031.
    OMB Control number: 7100-0264.
    Frequency: On occasion.
    Reporters: State member banks.
    Annual reporting hours: 783 hours.
    Estimated average hours per response: 2 hours for reporting 
requirements; 1 hour for disclosure requirements; 8 hours for 
recordkeeping requirements.
    Number of respondents: 226.
    Small businesses are affected.
    General description of report: This information collection is 
required (12 U.S.C. 1831r-l(a)(1)) and may be given confidential 
treatment upon request (5 U.S.C. Sec. 552(b)(4)).
    Abstract: These reporting, recordkeeping, and disclosure 
requirements regarding the closing of any branch of an insured 
depository institution are imposed by section 228 of the Federal 
Deposit Insurance Corporation Improvement Act of 1991 (FDICIA). There 
is no reporting form associated with the reporting portion of this 
information collection; state member banks notify the Federal Reserve 
by letter prior to closing a branch. The Federal Reserve uses the 
information to fulfill its statutory obligation to supervise state 
member banks.

Final Approval Under OMB Delegated Authority of the Reinstatement 
For One Year, Without Revision, of the Following Report

    1. Report title: Report of Terms of Credit Card Plans.
    Agency form number: FR 2572.
    OMB Control number: 7100-0239.
    Frequency: Semiannual.
    Reporters: Commercial banks, savings and loans, savings banks, and 
finance companies.
    Annual reporting hours: 75 hours.
    Estimated average hours per response: 0.25 hours.
    Number of respondents: 150.
    Small businesses are not affected.
    General description of report: The Board is authorized to collect 
this voluntary information collection (15 U.S.C. 1646(b)). The data are 
not considered confidential.
    Abstract: This report was collected for the last time as of January 
31, 2000; it was discontinued prior to the July 2000 reporting date 
pursuant to the Federal Reports Elimination and Sunset Act of 1995 
(Sunset Act) (PL 104-66). In December 2000, the Congress approved the 
American Homeownership and Economic Opportunity Act of 2000 (Act) that 
restored the reporting of this information collection, along with forty 
others. Title XI of the Act states that section 3003(a)(1) of the 
Sunset Act ``shall not apply to any report required to be submitted 
under any of the following provisions of law: * * * Section 8 of the 
Fair Credit and Charge Card Disclosure Act of 1998 (15 U.S.C. 1637 
note); * * *''. Upon reinstatement, this report will collect data on 
credit card pricing and availability from a sample of at least 150 
financial institutions that offer credit cards. The information will be 
reported to the Congress and made available to the public in order to 
promote competition within the industry.

    Board of Governors of the Federal Reserve System, July 30, 2001.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 01-19373 Filed 8-2-01; 8:45 am]
BILLING CODE 6210-01-P