[Federal Register Volume 71, Number 84 (Tuesday, May 2, 2006)]
[Notices]
[Pages 25842-25843]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-6603]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (44 U.S.C. chapter 35), the Board, the Federal Deposit 
Insurance Corporation (FDIC), and the Office of the Comptroller of the 
Currency (OCC) (collectively, the ``agencies'') may not conduct or 
sponsor, and the respondent is not required to respond to, an 
information collection unless it displays a currently valid Office of 
Management and Budget (OMB) control number. The Federal Financial 
Institutions Examination Council (FFIEC), of which the agencies are 
members, has approved the agencies' publication for public comment of a 
proposal to extend, without revision, the Country Exposure Report for 
U.S. Branches and Agencies of Foreign Banks (FFIEC 019), which is a 
currently approved information collection. At the end of the comment 
period, the comments and recommendations received will be analyzed to 
determine the extent to which the FFIEC should modify the

[[Page 25843]]

reports. The Board will then submit the reports to OMB for review and 
approval.

DATES: Comments must be submitted on or before July 3, 2006.

ADDRESSES: Interested parties are invited to submit written comments to 
the agency listed below. All comments, which should refer to the OMB 
control number, will be shared among the agencies.
    You may submit comments, identified by FFIEC 019, by any of the 
following methods:
     Agency Web Site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments on the http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include docket 
number in the subject line of the message.
     FAX: 202-452-3819 or 202-452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted, 
except as necessary for technical reasons. Accordingly, your comments 
will not be edited to remove any identifying or contact information. 
Public comments may also be viewed electronically or in paper in Room 
MP-500 of the Board's Martin Building (20th and C Streets, NW.) between 
9 a.m. and 5 p.m. on weekdays.
    Additionally, commenters should send a copy of their comments to 
the Desk Officer for the agencies by mail to U.S. Office of Management 
and Budget, 725 17th Street NW., 10235, Washington, DC 20503 
or by fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: Additional information or a copy of 
the collection may be requested from Michelle Long, Federal Reserve 
Board Clearance Officer, 202-452-3829, Division of Research and 
Statistics, Board of Governors of the Federal Reserve System, 20th and 
C Streets, NW., Washington, DC 20551. Telecommunications Device for the 
Deaf (TDD) users may call 202-263-4869, Board of Governors of the 
Federal Reserve System, 20th and C Streets, N.W., Washington, DC 20551.

SUPPLEMENTARY INFORMATION:
    Proposal to extend for three years, without revision, the following 
currently approved collection of information:
    Report Title: Country Exposure Report for U.S. Branches and 
Agencies of Foreign Banks.
    Form Number: FFIEC 019.
    OMB Number: 7100-0213.
    Frequency of Response: Quarterly.
    Affected Public: U.S. branches and agencies of foreign banks.
    Estimated Number of Respondents: 185.
    Estimated Average Time per Response: 10 hours.
    Estimated Total Annual Burden: 7,400 hours.

General Description of Reports

    This information collection is mandatory: 12 U.S.C. 3906 for all 
agencies; 12 U.S.C. 3105 and 3108 for the Board; sections 7 and 10 of 
the Federal Deposit Insurance Act (12 U.S.C. 1817, 1820) for the FDIC; 
and the National Bank Act (12 U.S.C. 161) for the OCC. The FFIEC 019 
information collection is given confidential treatment under the 
Freedom of Information Act (5 U.S.C. 552(b)(8)).

Abstract

    All individual U.S. branches and agencies of foreign banks that 
have more than $30 million in direct claims on residents of foreign 
countries must file the FFIEC 019 report quarterly. Currently, all 
respondents report adjusted exposure amounts to the five largest 
countries having at least $20 million in total adjusted exposure. The 
agencies collect this data to monitor the extent to which such branches 
and agencies are pursuing prudent country risk diversification policies 
and limiting potential liquidity pressures. No changes are proposed to 
the FFIEC 019 reporting form or instructions.

Request for Comment

    Comments are invited on:
    a. Whether the information collection is necessary for the proper 
performance of the agencies' functions, including whether the 
information has practical utility;
    b. The accuracy of the agencies' estimate of the burden of the 
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;
    d. Ways to minimize the burden of the information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Comments submitted in response to this notice will be shared among 
the agencies. All comments will become a matter of public record. 
Written comments should address the accuracy of the burden estimate and 
ways to minimize burden including the use of automated collection 
techniques or the use of other forms of information technology as well 
as other relevant aspects of the information collection request.

    Board of Governors of the Federal Reserve System, April 27, 
2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-6603 Filed 5-1-06; 8:45 am]
BILLING CODE 6210-01-P