[Federal Register Volume 71, Number 141 (Monday, July 24, 2006)]
[Notices]
[Pages 41804-41805]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-11704]


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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: 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: Report of Transaction Accounts, Other Deposits and 
Vault Cash
    Agency form number: FR 2900
    OMB control number: 7100-0087
    Frequency: Weekly, quarterly
    Reporters: Depository institutions
    Annual reporting hours: 586,166 hours
    Estimated average hours per response: 3.50 hours
    Number of respondents: 2,752 weekly and 6,093 quarterly
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: Nonexempt institutions-defined as those with net 
transaction accounts greater than the exemption amount or with total 
deposits equal to or greater than the reduced reporting limit-file the 
fifteen-item FR 2900 weekly if their total deposits are equal to or 
greater than the nonexempt deposit cutoff and quarterly if their total 
deposits are less than the nonexempt deposit cutoff. U.S. branches and 
agencies of foreign banks and banking Edge and agreement corporations 
are required to submit FR 2900 data weekly regardless of their deposit 
size. These mandatory data are used by the Federal Reserve for 
administering Regulation D (Reserve Requirements of Depository 
Institutions) and for constructing, analyzing, and monitoring the 
monetary and reserve aggregates.
    Current Actions: On May 8, 2006, the Federal Reserve published a 
notice soliciting comments on the proposed revisions to the Report of 
Transaction Accounts, Other Deposits and Vault Cash (71 FR 26763). The 
comment period ended on July 7, 2006. The Federal Reserve will 
implement the following revisions: (1) Raise the nonexempt deposit 
cutoff to $229.1 million (compared with an indexed level of $181.1 
million) and set the reduced reporting limit at its indexed value of 
$1.206 billion beginning in September 2006; (2) calculate the nonexempt 
deposit cutoff and the reduced reporting limit using the sum of total 
transaction accounts, savings deposits, and small time deposits, rather 
than total deposits, beginning with the September 2007 panel shift; and 
(3) index the nonexempt deposit cutoff and the reduced reporting limit 
annually to 80 percent of the June-to-June growth in total transaction 
accounts, savings deposits, and small time deposits at all depository 
institutions. The actual values of the nonexempt deposit cutoff and the 
reduced reporting limit to be used in September 2007 will be announced 
under the usual schedule, in October 2006.

The Federal Reserve received one comment letter from a federal agency 
describing its use of these data. The revisions will be implemented as 
originally proposed.

    2. Report title: Annual Report of Total Deposits and Reservable 
Liabilities
    Agency form number: FR 2910a
    OMB control number: 7100-0175
    Frequency: Annually
    Reporters: Depository institutions
    Annual reporting hours: 5,317 hours
    Estimated average hours per response: 45 to 60 minutes, depending 
on entity type
    Number of respondents: 5,605
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a) and 461) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: Currently, the three-item FR 2910a is generally filed by 
exempt institutions whose net transaction accounts are greater than the 
exemption amount and whose total deposits (as shown on their December 
Call Report) are greater than the exemption amount but less than the 
reduced reporting limit. Respondents submit single-day data as of June 
30. These mandatory data are used by the Federal Reserve for 
administering Regulation D (Reserve Requirements of Depository 
Institutions) and for constructing, analyzing, and monitoring the 
monetary and reserve aggregates.
    Current Actions: On May 8, 2006, the Federal Reserve published a 
notice soliciting comments on the proposed revisions to the Annual 
Report of Total Deposits and Reservable Liabilities (71 FR 26763). The 
comment period ended on July 7, 2006. The Federal Reserve will 
implement the following revisions effective for the June 30, 2007, 
report date: (1) Replace data item 1, ``Total Deposits,'' with ``Total 
Transaction Accounts, Savings Deposits, and Small Time Deposits;'' (2) 
delete the parenthetical text from data item 1, ``(If the amount 
reported for this item is less than or equal to $7.0 million, Items 2 
and 2.a need not be completed);'' (3) change the reporting form title 
from, ``Annual Report of Total Deposits and Reservable Liabilities,'' 
to ``Annual Report of Deposits and Reservable Liabilities;'' and (4) 
require depository

[[Page 41805]]

institutions to submit either a positive or negative value in data item 
2.a, ``Net Transaction Accounts,'' rather than reporting negative 
values as zero, as is currently required.
    3. Report title: Allocation of Low Reserve Tranche and Reservable 
Liabilities Exemption
    Agency form number: FR 2930/2930a
    OMB control number: 7100-0088
    Frequency: Annually and on occasion
    Reporters: Depository institutions
    Annual reporting hours: 40 hours
    Estimated average hours per response: 15 minutes
    Number of respondents: 160
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2930 and FR 2930a collect data on the allocation 
of the low reserve tranche and reservable liabilities exemption amount 
for depository institutions having offices (or groups of offices) that 
file separate FR 2900 deposit reports. The FR 2930 is filed by U.S. 
branches and agencies of foreign banks and banking Edge and agreement 
corporations; the FR 2930a is filed by other types of depository 
institutions. Both reporting forms collect the same data. However, the 
instructions and explanatory information differ. These mandatory data 
are used to calculate the reserve requirement of an institution that 
submits separate FR-2900 data for two or more offices, that institution 
is required to allocate, using the FR 2930, the low reserve tranche and 
the exemption among those offices.
    Current Actions: On May 8, 2006, the Federal Reserve published a 
notice soliciting comments on the proposed revisions to the Allocation 
of Low Reserve Tranche and Reservable Liabilities Exemption (71 FR 
26763). The comment period ended on July 7, 2006. The Federal Reserve 
will combine the FR 2930 and FR 2930a into one reporting form (FR 2930) 
that would be used by any entity type (both foreign-related and 
domestic institutions). The instructions for the FR 2930 reporting form 
will be modified to reflect this change. Both of these revisions will 
be effective September 30, 2006.

Final approval under OMB delegated authority of the extension for three 
years, without revision of the following report:

    Report title: Report of Foreign (Non-U.S.) Currency Deposits
    Agency form number: FR 2915
    OMB control number: 7100-0237
    Frequency: Quarterly
    Reporters: Depository institutions
    Annual reporting hours: 214 hours
    Estimated average hours per response: 30 minutes
    Number of respondents: 107
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(2), and 347(d)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2915 collects seven-day averages of the amounts 
outstanding for foreign (non-U.S.) currency-denominated deposits held 
at U.S. offices of depository institutions, converted to U.S. dollars 
and included in the institution's FR 2900 data. Foreign currency 
deposits are subject to reserve requirements and, therefore, are 
included in the FR 2900 data submission. All weekly and quarterly FR 
2900 respondents offering foreign currency deposits file the six-item 
FR 2915 quarterly, on the same reporting schedule as quarterly FR 2900 
respondents. Data collected on the FR 2915 are mainly used in the 
construction of the monetary aggregates. These data are included in 
deposit data submitted on the FR 2900 for reserve requirement purposes, 
but they are not included in the monetary aggregates. The FR 2915 is 
the only source of data on such deposits.

    Board of Governors of the Federal Reserve System, July 19, 2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6-11704 Filed 7-21-06; 8:45 am]
BILLING CODE 6210-01-S