[Federal Register Volume 66, Number 207 (Thursday, October 25, 2001)]
[Notices]
[Pages 54009-54011]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-26862]


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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

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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 December 24, 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, N.W., 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, N.W. Comments received may be inspected in room M-P-500 between 
9:00 a.m. and 5:00 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.

SUPPLEMENTARY INFORMATION:

Proposals to Approve Under OMB Delegated Authority the Extension 
for Three Years, Without Revision, of the Following Reports:

1. Report title: Annual Salary Survey, ad hoc surveys, and Compensation 
Trend Survey.
Agency form number: FR 29a, b, c.
OMB control number: 7100-0290.
Frequency: FR 29a, once each year; FR 29b, on occasion; FR 29c, once 
each year.
Reporters: Employers considered competitors for Federal Reserve 
employees.
Annual reporting hours: FR 29a, 270 hours; FR 29b, 30 hours; FR 29c, 
1,300 hours.
Estimated average hours per response: FR 29a, 6 hours; FR 29b, 1 hour; 
FR 29c, 2 hours.
Number of respondents: FR 29a, 45; FR 29b, 10; FR 29c, 650.
Small businesses are affected.
    General description of report: This information collection is 
voluntary (sections 10(4) and 11(1) of the Federal Reserve Act (12 
U.S.C. 244 and 248(1)) and is given confidential treatment (5 U.S.C 552 
(b)(4) and (b)(6)).
    Abstract: The surveys collect information on salaries, employee 
compensation policies, and other employee programs from employers that 
are considered competitors for Federal Reserve employees. The data from 
the surveys primarily are used to determine the appropriate salary 
structure and salary adjustments for Federal Reserve employees.
2. Report title: Recordkeeping and Disclosure Requirements Associated 
with Securities Transactions Pursuant to Regulation H.
Agency form number: Reg H-3.
OMB control number: 7100-0196.
Frequency: Development of policy statement, one-time; Trust company 
report, quarterly; Transactions recordkeeping, on occasion; and 
Disclosure, on occasion
Reporters: State member banks and trust companies.
Annual reporting hours: 158,423 hours.
Estimated average hours per response: Development of policy statement, 
0.50 hours; Trust company report, 0.25 hours; Transaction 
recordkeeping, 0.05 Hours; and Disclosure, 0.05 hours.
Number of respondents: 1,509.
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 325). If the records maintained by state member 
banks come into the possession of the Federal Reserve, they are given 
confidential treatment (5 U.S.C. Secs.  552(b)(4), (b)(6), and (b)(8)).
    Abstract: State-chartered member banks and trust companies 
effecting securities transactions for customers must establish and 
maintain a system of records, furnish confirmations to customers, and 
establish written policies and procedures relating to securities 
trading. They are required to maintain records for three years 
following the transaction. These requirements are necessary for 
customer protection, to avoid or settle customer disputes, and to 
protect the bank against potential liability arising under the anti-
fraud and insider trading provisions of the Securities Exchange Act of 
1934.

Proposal to Approve Under OMB Delegated Authority the Extension for 
Three Years, with Revision, of the Following Report:

1. Report title: Application for Employment with the Board of Governors 
of the Federal Reserve System.
Agency form number: FR 28.
OMB control number: 7100-0181.
Frequency: On occasion.
Reporters: Employment applicants.
Annual reporting hours: 8,625 hours.
Estimated average hours per response: 1 hour.
Number of respondents: 8,500.
Small businesses are not affected.
    General description of report: This information collection is 
required to obtain a benefit (sections 10(4) and 11(1) of the Federal 
Reserve Act (12 U.S.C. Sec.  244 and 248(1)). The Board is required to 
treat the information collected on the Application as confidential 
pursuant to the requirements of the Privacy Act (5 U.S.C. Sec.  552a). 
Individual respondent data are regarded as confidential under the 
Freedom of Information Act (5 U.S.C. Secs.  552(b)(2) and (b)(6)).
    Abstract: The Application collects information to determine the 
qualifications, suitability, and availability of applicants for 
employment with the Board. The Application asks about education, 
training, employment, and other information covering the period since 
the applicant left high school.
    Current Actions: The Federal Reserve will add two short 
supplemental forms to the Application. One form will be given to all 
applicants and collects information about the gender and race of the 
applicant. The information from this form will be used to assist the 
Board with federal equal opportunity record keeping, reporting, and 
other

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legal requirements. The second form will be filled out by applicants 
for Research Assistant positions in the divisions of Monetary Affairs, 
International Finance, and Research and Statistics. The survey will 
serve to streamline the recruiting process by attempting to determine 
an applicant=s interest in the policy and research topics that are 
germane to individual research sections.

Proposal to Implement Under OMB Delegated Authority the Following 
Report:

1. Report title: Surveys of Board Publications.
Agency form number: FR 1373 a and b.
OMB control number: to be assigned.
Frequency: FR 1373a, 1.5; FR 1373b small-panel, 8; and FR 1373b large-
panel,
2. Reporters: FR 1373a, educators who have previously requested 
materials from the Board; FR 1373b, current subscribers of Board 
publications.
Annual reporting hours: 762 hours.
Estimated average hours per response: FR 1373a, 30 minutes; FR 1373b, 
15 minutes.
Number of respondents: FR 1373a, 400; FR 1373b small-panel, 131; FR 
1373b large-panel, 400.
Small businesses are affected.
    General description of report: This information collection is 
voluntary. The FR 1373a survey is authorized pursuant to the Federal 
Trade Commission Improvement Act (15 U.S.C. Sec. 57(a)); the FR 1373b 
survey is authorized pursuant to 12 U.S.C. Sec. 248(i). The specific 
information collected is not considered confidential.
    Abstract: Data from the FR 1373a survey would help the Board staff 
to 1) conduct periodic reviews and evaluations of the consumer 
education resources available to consumers and consumer educators, and 
to 2) evaluate consumer education resources under consideration for 
distribution. Data from the FR 1373b survey would help the Board staff 
to evaluate Board publications that are available to the public. The 
staff would use the FR 1373b data to help determine if the Board should 
continue to issue certain publications and, if so, whether the public 
would like to see changes in the method of information delivery, 
issuance frequency, content, or format/appearance.
    Board of Governors of the Federal Reserve System, October 19, 2001

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 01-26862 Filed 10-24-01; 8:45 am]
BILLING CODE 6210-01-S