[Federal Register Volume 68, Number 234 (Friday, December 5, 2003)]
[Notices]
[Pages 68083-68085]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30213]


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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: 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-I's 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 proposals

    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 February 3, 2004.

ADDRESSES: Comments may be mailed to Ms. Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, N.W., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by e-mail 
to [email protected], or faxing them to the Office of 
the Secretary at 202-452-3819 or 202-452-3102. Members of the public 
may inspect comments in Room MP-500 between 9:00 a.m. and 5:00 p.m. on 
weekdays pursuant to 261.12, except as provided in 261.14, of the 
Board's Rules Regarding Availability of Information, 12 CFR 261.12 and 
261.14.
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Joseph Lackey, Office of

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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.
    Cindy Ayouch, 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 (202-263-4869), Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

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 and Weekly Report of Selected Assets
    Agency form numbers: FR 2416 and FR 2644
    OMB control number: 7100-0075
    Frequency: Weekly
    Reporters: U.S.-chartered commercial banks
    Annual reporting hours: FR 2416: 18,850 hours; FR 2644: 73,216 
hours
    Estimated average hours per response: FR 2416: 7.25 hours; FR 2644: 
1.28 hours
    Number of respondents: FR 2416: 50; FR 2644: 1,100
    General description of reports: These information collections are 
voluntary (12 U.S.C. Sec. Sec.  225(a) and 248(a)(2)). Individual 
respondent data are regarded as confidential under the Freedom of 
Information Act (5 U.S.C. Sec.  552(b)(4)).
    Abstract: The FR 2416, FR 2644, and the Weekly Report of Assets and 
Liabilities for Large U.S. Branches and Agencies of Foreign Banks (FR 
2069; OMB No. 7100-0030) are referred to collectively as the bank 
credit reports. The FR 2416 is a detailed balance sheet that covers 
domestic offices of large U.S.-chartered commercial banks. The FR 2644 
collects less-detailed information on investments, loans, total assets, 
and several memoranda items, covering domestic offices of small U.S.-
chartered commercial banks. The bank credit 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 stand-alone 
basis as the ``large domestic bank series.'' The FR 2644 collects 
sample data, which are used to estimate universe levels using data from 
the quarterly commercial bank Consolidated Reports of Condition and 
Income (FFIEC 031 and 041; OMB No. 7100-0036) (Call Report). Data from 
the bank credit 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.
    The Federal Reserve publishes the data in aggregate form in the 
weekly H.8 statistical release, Assets and Liabilities of Commercial 
Banks in the United States, which is followed closely by other 
government agencies, the banking industry, the financial press, and 
other users. This release provides a balance sheet for the banking 
industry as a whole and data disaggregated by its large domestic, small 
domestic, and foreign-related components.
    Current actions: The Federal Reserve proposes to make the following 
modifications to the FR 2416: 1) split other assets into two items, 2) 
split other liabilities into two items, and 3) combine three memoranda 
items breaking out U.S. Treasury securities. The Federal Reserve 
proposes to make the following modifications to the FR 2644: 1) split 
other loans secured by real estate into two items, 2) add an item for 
net due from own foreign offices, and 3) add an item for net due to own 
foreign offices. The respondent burden estimates are currently under 
review. The proposed revisions would be implemented as of June 2004.
    2. 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 banks
    Annual reporting hours: 19,692 hours
    Estimated average hours per response: 5.41 hours
    Number of respondents: 70
    General description of report: This information collection is 
voluntary (12 U.S.C. Sec. Sec.  248(a)(2) and 3105(a)(2)). Individual 
respondent data are regarded as confidential under the Freedom of 
Information Act (5 U.S.C. Sec.  552(b)(4)).
    Abstract: The FR 2069 is a detailed balance sheet that covers large 
U.S. branches and agencies of foreign banks. This report, along with 
the FR 2416 and FR 2644, is 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 FR2069 collects sample data, 
which are used to estimate universe levels using data from the 
quarterly Report of Assets and Liabilities of U.S. Branches and 
Agencies of Foreign Banks (FFIEC 002; OMB No. 7100-0032) (Call Report). 
Data from the bank credit 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.
    The Federal Reserve publishes the data in aggregate form in the 
weekly H.8 statistical release, Assets and Liabilities of Commercial 
Banks in the United States, which is followed closely by other 
government agencies, the banking industry, the financial press, and 
other users. This release provides a balance sheet for the banking 
industry as a whole and data disaggregated by its large domestic, small 
domestic, and foreign-related components.
    Current actions: The Federal Reserve proposes to make the following 
modifications to the FR 2069: 1) combine items for federal funds 
purchased with banks and other borrowed money owed to banks and 2) 
combine items for federal funds purchased with others and other 
borrowed money owed to others. The respondent burden estimates are 
currently under review. The proposed revisions would be implemented as 
of June 2004.
    3. Report title: Annual Report of Bank Holding Companies
    Agency form number: FR Y-6
    OMB control number: 7100-0124
    Frequency: Annual
    Reporters: top-tier domestic Bank Holding Companies (BHCs)
    Annual reporting hours: 21,913 hours
    Estimated average hours per response: 4.25 hours
    Number of respondents: 5,156
    General description of report: This information collection is 
mandatory Section 5(c)(1)(A) of the BHC Act (12 U.S.C. Sec.  
1844(c)(1)(A)); Section 8(a) of the International Banking Act (12 
U.S.C. Sec.  3106(a)); Sections 11(a)(1), 25 and 25A of the Federal 
Reserve Act (12 U.S.C. Sec. Sec.  248(a)(1), 602, and 611a); Section 
211.13(c) of Regulation K (12 CFR 211.13(c)); and Section 225.5(b) of 
Regulation Y (12 CFR 225.5(b)). Individual respondent data are not 
considered as confidential. However, a company may request confidential 
treatment pursuant to sections (b)(4) and

[[Page 68085]]

(b)(6) of the Freedom of Information Act (5 U.S.C. Sec. Sec.  522(b)(4) 
and (b)(6)).
    Abstract: The FR Y-6 is an annual report filed by all BHCs 
containing financial data, an organization chart, and information about 
shareholders. The Federal Reserve uses the data to monitor holding 
company operations and determine holding company compliance with the 
provisions of the BHC Act and Regulation Y (12 CFR 225).
    Current actions: The Federal Reserve proposes to revise the FR Y-\6 
by requiring that only top-tier BHCs file the FR Y-6 report, 
eliminating Report Item 1(a) that requires a BHC to submit a copy of 
its Securities and Exchange Commission form 10-K, adding three minor 
items to the cover page, and clarifying several areas in the 
instructions. The proposed FR Y-6 revisions would be effective with 
fiscal years beginning after December 31, 2003.
    4. Report titles: Report of Changes in Organizational Structure and 
Report of Changes in FBO Organizational Structure
    Agency form numbers: FR Y-10 and FR Y-10F
    OMB control number: 7100-0297
    Frequency: Event generated
    Reporters: FR Y-10: Top-tier domestic BHCs; financial holding 
companies (FHCs), and unaffiliated state member banks; FR Y-10F: 
foreign banking organizations (FBOs) and FHCs
    Annual reporting hours: FR Y-10: 9,792 hours; FR Y-10F: 1,635 hours
    Estimated average hours per response: FR Y-10: 1 hour; FR Y-10F: 1 
hour
    Number of respondents: FR Y-10: 2,448; FR Y-10F: 327
    General description of reports: These information collections are 
mandatory Sections 4(k) and 5(c)(1)(A) of the BHC Act (12 U.S.C. 
Sec. Sec.  1843(k), 1844(c)(1)(A)); Section 8(a) of the International 
Banking Act (12 U.S.C. Sec.  3106(a)); Sections 11(a)(1), 25(7) and 25A 
of the Federal Reserve Act (12 U.S.C. Sec. Sec.  248(a)(1), 602, and 
611a); Section 211.13(c) of Regulation K (12 CFR 211.13(c)); and 
Sections 225.5(b) and 225.87 of Regulation Y (12 CFR 225.5(b) and 
225.87). Individual respondent data are not considered as confidential. 
However, a company may request confidential treatment pursuant to 
sections (b)(4) and (b)(6) of the Freedom of Information Act (5 U.S.C. 
Sec. Sec.  522(b)(4) and (b)(6)).
    Abstract: The FR Y-10 is an event-generated report filed by top-
tier domestic BHCs, including FHCs, and state member banks unaffiliated 
with a BHC or FHC, to capture changes in their regulated investments 
and activities. The Federal Reserve uses the data to monitor structure 
information on subsidiaries and regulated investments of these entities 
engaged in both banking and nonbanking activities.
    The FR Y-10F is an event-generated report filed by FBOs, including 
FHCs, to capture changes in their regulated investments and activities. 
The Federal Reserve uses the data to ensure compliance with U.S. 
banking laws and regulations and to determine the risk profile of the 
FBO structure.
    Current actions: The Federal Reserve proposes to revise the FR Y-10 
and FR Y-10F forms and instructions in an effort to reduce respondent 
burden. The proposed revisions to the reporting forms consist primarily 
of reorganizing line items into separate schedules for banking and 
nonbanking investments. In addition, the Federal Reserve proposes to 
replace the Federal Reserve System activity codes with the North 
American Industrial Classification System codes and to reorganize and 
clarify the instructions. The Federal Reserve is considering the 
usefulness of a conversion table for converting the Federal Reserve 
Activity Codes to NAICS codes. The proposed revisions to the FR Y-10 
and FR Y-10F would be implemented as of May 31, 2004.

    Board of Governors of the Federal Reserve System, December 1, 
2003.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 03-30213 Filed 12-4-03; 8:45 am]
BILLING CODE 6210-01-S