[Federal Register Volume 72, Number 88 (Tuesday, May 8, 2007)]
[Notices]
[Pages 26116-26117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-8753]


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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 Paperwork Reduction Act 
Submission, 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 proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, 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 July 9, 2007.

ADDRESSES: You may submit comments, identified by FR 2046 (OMB No. 
7100-0289) or FR 4006 (OMB No. 7100-0129), 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.
     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, 
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, 
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, NW.) between 9 a.m. 
and 5 p.m. on weekdays.
    Additionally, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street, NW., Washington, DC 20503 
or by fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission, 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 Shore, 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.

[[Page 26117]]

Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following reports:

    1. Report title: Report of Selected Balance Sheet Items for 
Discount Window Borrowers
    Agency form number: FR 2046
    OMB control number: 7100-0289
    Frequency: On occasion
    Reporters: Depository institutions
    Annual reporting hours: 894
    Estimated average hours per response: Primary and Secondary Credit, 
0.75 hour; Seasonal Credit, 0.25 hour
    Number of respondents: 171
    General description of report: This information collection is 
required to obtain or retain a benefit pursuant to section 10B of the 
Federal Reserve Act [12 U.S.C. Sec.  347b] and is given confidential 
treatment [5 U.S.C. Sec.  552(b)(4)].
    Abstract: The Federal Reserve(s Regulation A, Extensions of Credit 
by Federal Reserve Banks, requires that the Federal Reserve review 
balance sheet data in determining whether to extend credit and to help 
ascertain whether undue use is made of such credit. Borrowers report 
certain balance sheet data for a period that encompasses the dates of 
borrowing. There are no proposed changes to the FR 2046; however, the 
Federal Reserve is clarifying the instructions.
    2. Report title: Request for Extension of Time to Dispose of Assets 
Acquired in Satisfaction of Debts Previously Contracted
    Agency form number: FR 4006
    OMB control number: 7100-0129
    Frequency: Annual
    Reporters: Bank holding companies
    Annual reporting hours: 180 hours
    Estimated average hours per response: 5 hours
    Number of respondents: 36
    General description of report: This information collection is 
required to obtain a benefit pursuant to section 4(c)(2) of the Bank 
Holding Company Act [12 U.S.C. Sec.  1843(c)(2)] and may be given 
confidential treatment upon request. The Federal Reserve has 
established a procedure for requesting an extension in its Regulation Y 
[12 C.F.R. Sec.  225.22(d)(1)(ii)].
    Abstract: A bank holding company that acquired voting securities or 
assets through foreclosure in the ordinary course of collecting a debt 
previously contracted may not retain ownership of those shares or 
assets for more than two years without prior Federal Reserve approval. 
There is no formal reporting form, and each request for extension must 
be filed at the appropriate Reserve Bank of the bank holding company. 
The Federal Reserve uses the information provided in the request to 
fulfill its statutory obligation to supervise bank holding companies.

    Board of Governors of the Federal Reserve System, May 3, 2007.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E7-8753 Filed 5-7-07; 8:45 am]
BILLING CODE 6210-01-S