[Federal Register Volume 69, Number 86 (Tuesday, May 4, 2004)]
[Notices]
[Page 24601]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-9959]


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FEDERAL RESERVE SYSTEM


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

SUMMARY: Notice is hereby given of the final approval of proposed 
information collection 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 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: Acting Federal Reserve Clearance 
Officer--Michelle Long--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
    OMB Desk Officer--Mark Menchik--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 Implementation of 
the Following Information Collection

    1. Report Title: Proposed Policy to Increase Depository Institution 
Recirculation of Currency.
    Agency Form Number: FR 4101.
    OMB Control Number: 7100-0305.
    Frequency: On occasion.
    Reporters: Depository institutions.
    Annual Reporting Hours: 11,175 hours.
    Estimated Average Hours per Response: Proof-of-concept program: 12 
hours (application), 15 minutes (inventory tracking); custodial 
inventory program: 12 hours (application), 15 minutes (inventory 
tracking).
    Number of Respondents: Proof-of-concept program: 15; custodial 
inventory program: 15.
    General Description of Report: This information collection is 
required to obtain a benefit (12 U.S.C. 248, 248(a), (b) and (c)) and 
is given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: In October 2003, the Federal Reserve published for 
comment in the Federal Register a proposed rulemaking (Docket No. OP-
1164) that would amend its cash services policy by adding two elements: 
(1) a custodial inventory program and (2) a recirculation fee. Before 
undertaking a permanent custodial inventory program, the Board 
authorized Reserve Banks to implement a one-year proof-of-concept 
program in 2004, including an application to participate and an 
Internet-based inventory tracking system. The Federal Reserve will 
evaluate the results of the program after six months of operation and 
will decide whether to implement a permanent custodial inventory 
program in 2005.
    If the Board approves implementation of a permanent program then a 
final rulemaking will be published announcing the permanent program.\1\ 
In the interim, the Federal Reserve must meet its requirement under the 
Paperwork Reduction Act to implement the information collection 
associated with the application and Internet-based inventory tracking 
system. No comments were received on the information collection part of 
the rule.
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    \1\ In order for the Federal Reserve to meet its requirement 
under the Paperwork Reduction Act, the Federal Reserve authorized 
the implementation of the application and Internet-based tracking 
system on March 25, 2004.

    Board of Governors of the Federal Reserve System, April 27, 
2004.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 04-9959 Filed 5-3-04; 8:45 am]
BILLING CODE 6210-01-P