[Federal Register Volume 71, Number 67 (Friday, April 7, 2006)]
[Notices]
[Pages 17869-17870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-5125]


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FEDERAL RESERVE SYSTEM


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

ACTION: Board of Governors of the Federal Reserve System

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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-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: Federal Reserve Board 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, or e-mail to 
[email protected].

Final approval under OMB delegated authority of the extension for three 
years, with revision of the following reports:

    1. Report title: 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: 826 hours
    Estimated average hours per response: 3.5 hours
    Number of respondents: 59
    General description of report: This information collection is 
required (12 U.S.C. Sec. Sec.  248(a) (2), 353 et seq., 461, 602, and 
625) and is given confidential treatment (5 U.S.C. Sec.  552(b) (4)).
    Abstract: This reporting form collects data quarterly on the 
geographic distribution of the assets and liabilities of major foreign 
branches and subsidiaries of U.S. commercial banks and of Edge and 
agreement corporations. Data from this reporting form comprise a piece 
of the flow of funds data that are compiled by the Federal Reserve.
    Current Actions: On January 24, 2006, the Federal Reserve published 
a notice soliciting comments on the proposed revisions to the Quarterly 
Report of Assets and Liabilities of Large Foreign Offices of U.S. Banks 
(71 FR 3844). The comment period ended on March 27, 2006. The Federal 
Reserve will implement the following revisions, effective for the March 
31, 2006 report date: (1) discontinue Schedule A as a result of the 
elimination of M3 and (2) reduce the reporting panel to require offices 
located only in the Caribbean and the United Kingdom to file the FR 
2502q. In addition, the Federal Reserve will implement the following 
revisions, effective for the June 30, 2006 report date: (1) discontinue 
Memorandum item 3a; (2) revise the instructions for data to be reported 
in the unallocated data items; and (3) conform the names of several 
countries and one region to the country list compiled by the U.S. 
Treasury.

The Federal Reserve received one comment letter from a federal agency 
describing its use of the data to prepare economic account information 
and estimates of international transactions. The revisions will be 
implemented as originally proposed.

    2. Report title: Consolidated Report of Condition and Income for 
Edge and Agreement Corporations
    Agency form number: FR 2886b
    OMB control number: 7100-0086
    Frequency: Quarterly
    Reporters: Edge and agreement corporations
    Annual reporting hours: 3,055
    Estimated average hours per response: 14.7 banking corporations, 
8.5 investment corporations
    Number of respondents: 19 banking corporations, 57 investment 
corporations
    General description of report: This information collection is 
mandatory (12 U.S.C. Sec. Sec.  602 and 625). For Edge corporations 
engaged in banking, information collection on schedules RC-M and RC-V 
are held confidential pursuant to Section (b)(4) of the Freedom of 
Information Act (5 U.S.C. 552(b)(4)). For investment Edge corporations, 
only information collected on schedule RC-M are given confidential 
treatment pursuant to Section (b)(4) of the Freedom of Information Act 
(5 U.S.C. 552(b)(4).
    Abstract: This reporting form comprises a balance sheet, income 
statement, two schedules reconciling changes in capital and reserve 
accounts, and ten supporting schedules, and it parallels the commercial 
bank Consolidated Reports of Condition and Income (Call Report)(FFIEC 
031; OMB No. 7100-0036). The Federal Reserve uses the data collected on 
the FR 2886b to supervise Edge corporations, identify present and 
potential problems, and monitor and develop a better understanding of 
activities within the industry.
    Current action: On January 24, 2006, the Federal Reserve published 
a notice soliciting comments on the proposed revisions to the FR 2886b 
(71 FR 3844). The comment period ended on March 27, 2006. The notice 
described the Federal Reserve's proposal to delete three data items 
related to bankers acceptances, consistent with proposed changes to the 
Call Report and to make minor clarifications to the reporting form and 
instructions. The Federal Reserve did not receive any comments on the 
proposed revisions. The revisions will be effective as of March 31, 
2006.


[[Page 17870]]


    Board of Governors of the Federal Reserve System, April 4, 2006.
Jennifer J. Johnson
Secretary of the Board.
[FR Doc. E6-5125 Filed 4-6-06; 8:45 am]
BILLING CODE 6210-01-S