[Federal Register Volume 68, Number 245 (Monday, December 22, 2003)]
[Notices]
[Pages 71108-71109]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E3-00603]


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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.
SUMMARY: 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 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, without revision, of the following reports:

    1. Report title: Semiannual Report of Derivatives Activity.
    Agency form number: FR 2436.
    OMB Control number: 7100-0286.
    Frequency: Semiannual.
    Reporters: Large U.S. dealers of over-the-counter (OTC) 
derivatives.
    Annual reporting hours: 1,400.
    Estimated average hours per response: 100.
    Number of respondents: 7.
    General description of report: This information collection is 
voluntary (12 U.S.C. Sec. Sec.  248(a), 353-359, and 461) and is given 
confidential treatment (5 U.S.C. Sec.  552(b)(4)).
    Abstract: The FR 2436 collects derivatives market statistics from 
seven large U.S. dealers of over-the-counter (OTC) derivatives. Data 
are collected on notional amounts and gross market values of the 
volumes outstanding of broad categories of foreign exchange, interest 
rate, equity- and commodity- linked over-the-counter derivatives 
contracts across a range of underlying currencies, interest rates, and 
equity markets.
    This collection of information complements the ongoing triennial 
Survey of Foreign Exchange and Derivatives Market Activity (FR 3036; 
OMB No. 7100-0285). The FR 2436 collects similar data on the 
outstanding volume of derivatives, but not on derivatives turnover. As 
with the FR 3036, the Federal Reserve conducts this report in 
coordination with other central banks and forwards the aggregated data 
furnished by U.S. reporters to the Bank for International Settlements 
(BIS), which publishes global market statistics that are aggregations 
of national data.
    2. Report title: Domestic Branch Notification.
    Agency form number: FR 4001.
    OMB Control number: 7100-0097.
    Frequency: On occasion.
    Reporters: State member banks.
    Annual reporting hours: 599 hours.
    Estimated average hours per response: 30 minutes for expedited 
notifications; 1 hour for nonexpedited notifications.
    Number of respondents: 474 expedited; 362 nonexpedited.
    General description of report: This information collection is 
mandatory (12 U.S.C. 321) and is not given confidential treatment.
    Abstract: The Federal Reserve System requires a state member bank 
to file a notification whenever it proposes to establish a domestic 
branch. There is no formal reporting form; banks notify the Federal 
Reserve by letter prior to making the proposed investment. The Federal 
Reserve uses the information to fulfill its statutory obligation to 
supervise state member banks.

Final approval under OMB delegated authority of the implementation of 
the following report:

    Report title: Central Bank Survey of Foreign Exchange and 
Derivatives Market Activity.

[[Page 71109]]

    Agency form number: FR 3036.
    OMB control number: 7100-0285.
    Frequency: One-time.
    Reporters: Financial institutions that serve as intermediaries in 
the wholesale foreign exchange and derivatives market and dealers.
    Annual reporting hours: 3,945.
    Estimated average hours per response: Turnover survey: 51 hours; 
outstandings survey: 15 hours for FR 2436 reporters, 60 hours for non-
FR 2436 reporters.
    Number of respondents: 60.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a), 353-359, and 461) and is given 
confidential treatment (5 U.S.C. Sec.  552(b)(4)).
    Abstract: The FR 3036 is the U.S. part of a global data collection 
that is conducted by central banks every three years. More than fifty 
central banks plan to conduct the survey in 2004. The Bank for 
International Settlements (BIS) compiles national data from each 
central bank to produce global market statistics.
    The Federal Reserve System and other government agencies use the 
survey to monitor activity in the foreign exchange and derivatives 
markets. Respondents use the published data to gauge their market 
share.
    Board of Governors of the Federal Reserve System, December 16, 
2003.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E3-00603 Filed 12-19-03; 8:45 am]
BILLING CODE 6210-01-S