[Federal Register Volume 68, Number 51 (Monday, March 17, 2003)]
[Notices]
[Pages 12698-12699]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6060]


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FEDERAL RESERVE SYSTEM


Agency information collection activities: Announcement of Board 
approval under delegated authority and submission to OMB

AGENCY: Board of Governors of the Federal Reserve System

ACTION: Notice

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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-I's and supporting statements and 
approved collection of information instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer Cindy Ayouch--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829). OMB Desk Officer Joseph Lackey--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.

Final Approval Under OMB Delegated Authority of The Extension For Three 
Years, With Minor Revision of The Following Reports:

    1. Report title: The Weekly Report of Eurodollar Liabilities Held 
by Selected U.S. Addressees at Foreign Offices of U.S. Banks.
    Agency form number: FR 2050.
    OMB Control number: 7100-0068.
    Frequency: Weekly.
    Reporters: Foreign branches and banking subsidiaries of U.S. 
depository institutions.
    Annual reporting hours: 1,872 hours.

[[Page 12699]]

    Estimated average hours per response: 1.0 hour.
    Number of respondents: 36.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a)(2), 353 et seq., 461, 602, and 625). 
Individual respondent's data are confidential under section (b)(4) of 
the Freedom of Information Act (5 U.S.C. 552(b)(4)).
    Abstract: The report collects data on Eurodollar deposits payable 
to nonbank U.S. addressees from foreign branches and subsidiaries of 
U.S. commercial banks and Edge and agreement corporations. The data are 
used for the construction of the Eurodollar component of the monetary 
aggregates and for analysis of banks' liability management practices.
    Current action: The Federal Reserve will raise the reporting 
threshold from a weekly average of $500 million to $550 million in 
total Eurodollar liabilities.
    2. Report title: The Quarterly Report of Assets and Liabilities of 
Large Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Reporters: Large foreign branches and banking subsidiaries of U.S. 
depository institutions.
    Annual reporting hours: 32,662 hours.
    Estimated average hours per response: 3.5 hours.
    Number of respondents: 2,333.
    Small businesses are not affected.
    General description of report: This information collection is 
required (12 U.S.C. 248(a)(2), 353 et seq., 461, 602, and 625) and is 
given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The report collects gross assets and liability positions 
from foreign branches and subsidiaries of U.S. commercial banks and 
Edge and agreement corporations vis-a-vis individual countries. A 
separate schedule collects information on Eurodollar liabilities 
payable to certain U.S. addressees.
    Current action: The Federal Reserve will revise the country list in 
the body of the reporting form to conform to the Department of State's 
official country list. Claims and liabilities that are not allocated by 
country of customer will be further broken out into that portion that 
is attributable to the fair value of derivatives contracts. Claims on 
and liabilities to other non-U.S. offices of the parent bank will be 
further broken out into that portion that is attributable to 
unallocated claims and liabilities. In addition, the instructions will 
be clarified with respect to the year-end panel review process and the 
definition of unallocated claims. Finally, the single data item 
collected on Schedule A will be reported as a seven-day average (one 
number) instead of daily (five numbers).

    Board of Governors of the Federal Reserve System, March 4, 2003.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 03-6060 Filed 3-14-03; 8:45 am]
BILLING CODE 6210-01-S