[Federal Register Volume 72, Number 137 (Wednesday, July 18, 2007)]
[Notices]
[Pages 39429-39430]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-13900]


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FEDERAL RESERVE SYSTEM


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

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 Paperwork Reduction Act Submission, 
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 Shore -- Division of Research and Statistics, Board 
of Governors of the Federal Reserve

[[Page 39430]]

System, Washington, DC 20551 (202-452-3829)
    OMB Desk Officer -- Alexander T. Hunt -- Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.

Final approval under OMB delegated authority of 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 hours
    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.
    Current Actions: On May 8, 2007, the Federal Reserve published a 
notice in the Federal Register (72 FR 26116) requesting public comment 
for 60 days on the extension, without revision, of the FR 2046. The 
comment period for this notice expired on July 9, 2007. The Federal 
Reserve did not receive any comments.

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.
    Current Actions: On May 8, 2007, the Federal Reserve published a 
notice in the Federal Register (72 FR 26116) requesting public comment 
for 60 days on the extension, without revision, of the FR 4006. The 
comment period for this notice expired on July 9, 2007. The Federal 
Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, July 13, 2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-13900 Filed 7-17-07; 8:45 am]
BILLING CODE 6210-01-S