[Federal Register Volume 71, Number 221 (Thursday, November 16, 2006)]
[Notices]
[Pages 66780-66781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-19405]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System
SUMMARY: Background. On June 15, 1984, the Office of Management and 
Budget (OMB) delegated to the Board of Governors of the Federal Reserve 
System (Board) its approval authority under the Paperwork Reduction 
Act, as per 5 CFR 1320.16, to approve of and assign OMB control numbers 
to collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. 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 instruments 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.

Request for comment on information collection proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, along with an analysis of comments and 
recommendations received, will be submitted to the Board for final 
approval under OMB delegated authority. Comments are invited on the 
following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed 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; and
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.

DATES: Comments must be submitted on or before January 16, 2007.

ADDRESSES: You may submit comments, identified by FR 2004 (OMB No. 
7100-0003), by any of the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.

[[Page 66781]]

     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: [email protected]. Include the OMB 
control 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, 
N.W., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfmas submitted, 
unless modified 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, N.W.) between 9 
a.m. and 5 p.m. on weekdays.

FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
supporting statement, and other documents that will be placed into 
OMB's public docket files once approved may be requested from the 
agency clearance officer, whose name appears below.
    Michelle Long, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the 
Federal Reserve System, Washington, DC 20551. Telecommunications Device 
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following reports:

    Report title: The Government Securities Dealers Reports: Weekly 
Report of Dealer Positions (FR 2004A), Weekly Report of Cumulative 
Dealer Transactions (FR 2004B), Weekly Report of Dealer Financing and 
Fails (FR 2004C), Weekly Report of Specific Issues (FR 2004SI), Daily 
Report of Specific Issues (FR 2004SD), and Daily Report of Dealer 
Activity in Treasury Financing (FR 2004WI)
    Agency form number: FR 2004
    OMB control number: 7100-0003
    Frequency: Weekly, Daily
    Reporters: Primary dealers in the U.S. government securities market
    Annual reporting hours: FR 2004A, 1,716 hours; FR 2004B, 2,288 
hours; FR 2004C, 1,430 hours; FR 2004SI, 2,288 hours; FR 2004SD, 1,100 
hours; FR 2004WI, 3,520 hours
    Estimated average hours per response: FR 2004A, 1.5 hours; FR 
2004B, 2.0 hours; FR 2004C, 1.25 hours; FR 2004SI, 2.0 hours; FR 
2004SD, 2.0 hours; FR 2004WI, 1.0 hour
    Number of respondents: 22
    General description of report: This information collection is 
required to obtain or retain a benefit [12 U.S.C. Sec. Sec.  248(a)(2), 
353-359, and 461(c)] and is given confidential treatment [5 U.S.C. 
Sec. Sec.  552 (b)(4) and (b)(8)].
    Abstract: The FR 2004A collects weekly data on dealers' outright 
positions in Treasury and other marketable debt securities. The FR 
2004B collects cumulative weekly data on the volume of transactions 
made by dealers in the same instruments for which positions are 
reported on the FR 2004A. The FR 2004C collects weekly data on the 
amounts of dealer financing and fails. The FR 2004SI collects weekly 
data on outright, financing, and fails positions in current or on-the-
run issues. Under certain circumstances this information is also 
collected on a daily basis on the FR 2004SD for on-the-run and off-the-
run securities. The FR 2004WI collects daily data on positions in to-
be-issued Treasury coupon securities, mainly the trading on a when-
issued delivery basis. Data from the FR 2004SI, SD and WI are available 
to the Interagency Working Group (IAWG), which includes the Department 
of the Treasury, the Federal Reserve Bank of New York, the Federal 
Reserve Board, the Securities and Exchange Commission, and the 
Commodity Futures Trading Commission.
    Current actions: The Federal Reserve proposes to revise the FR 2004 
information collection by adding an attestation requirement to each of 
the reporting forms. The addition of this attestation requirement from 
a senior officer would help ensure that the proper level of review 
occurs before FR 2004 data are submitted, and help to mitigate the risk 
of the Federal Reserve publishing misleading data. Since all FR 2004 
data are sent electronically through the Internet Electronic Submission 
(IESUB) system to the Federal Reserve, the proposed signature 
requirement would be completed weekly and retained with the primary 
dealer's files. To verify that the proper level of management is 
attesting to the accuracy of the data, an annual requirement to submit 
a copy of the attestation to the Federal Reserve for all of the FR 2004 
reporting forms is also being proposed. These attestations would be 
required with the submission of the last as-of date of each year.
    In addition, the Federal Reserve proposes to revise the FR 2004SI 
and FR 2004SD reporting forms by replacing the two counterparty data 
items ``with broker-dealer'' and ``with all others'' with two data 
items ``Specific'' and ``General'' for financing transactions. The 
greater detail on the type of transaction used to fund a position would 
provide more useful information than the identity type of the 
counterparty and would improve the IAWG's ability to conduct Treasury 
market surveillance.

    Board of Governors of the Federal Reserve System, November 13, 
2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6-19405 Filed 11-15-06; 8:45 am]
BILLING CODE 6210-01-S