[Federal Register Volume 72, Number 151 (Tuesday, August 7, 2007)]
[Notices]
[Pages 44136-44138]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-15298]


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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

[[Page 44137]]

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 October 9, 2007.

ADDRESSES: You may submit comments, identified by FR 1373a,b: 7100-
0301; or Regulation CC: 7100-0235, 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 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, 
N.W., 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.

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

    1. Report title: Studies of Board Publications
    Agency form number: FR 1373a,b
    OMB control number: 7100-0301
    Frequency: FR 1373a, one or two times per year; FR 1373b, small-
panel survey: five times per year; large-panel survey, three times per 
year
    Reporters: FR 1373a: community-based educators, key stakeholders, 
and other educators who have previously requested consumer education 
materials from the Federal Reserve; FR 1373b: current subscribers of 
the publications being surveyed.
    Annual reporting hours: FR 1373a: survey, 300 hours; panel 
discussion, 68 hours. FR 1373b: small-panel, 80 hours; large-panel 300 
hours.
    Estimated average hours per response: FR 1373a: survey, 30 minutes; 
panel discussion, 90 minutes. FR 1373b: small-panel, 15 minutes; large-
panel 15 minutes.
    Number of respondents: FR 1373a: survey, 400; panel discussion, 45. 
FR 1373b: small-panel, 64; large-panel, 400.
    General description of report: This information collection is 
voluntary. The FR 1373a study is authorized pursuant to the Federal 
Trade Commission Improvement Act (15 U.S.C. Sec.  57a(f)); the FR 1373b 
study is authorized pursuant to the Federal Reserve Act (12 U.S.C. 
Sec.  248(i)). The specific information collected is not considered 
confidential.
    Abstract: The Federal Reserve uses the FR 1373a to: 1) conduct 
periodic reviews and evaluations of the consumer education materials 
and 2) develop and evaluate consumer education materials under 
consideration for distribution. The FR 1373b data help the Federal 
Reserve determine if it should continue to issue certain publications 
and, if so, whether the public would like to see changes in the method 
of information delivery, frequency, content, format, or appearance.
    2. Report title: Disclosure Requirements in Connection with 
Regulation CC (Expedited Funds Availability Act (EFAA))
    Agency form number: Reg CC
    OMB control number: 7100-0235
    Frequency: Event-generated
    Reporters: State member banks and uninsured state branches and 
agencies of foreign banks
    Annual reporting hours: 210,882 hours
    Estimated average hours per response: Banks: Specific availability 
policy disclosure and initial disclosures, 1 minute; notice in specific 
policy disclosure, 3 minutes; notice of exceptions, 3 minutes; 
locations where employees accept consumer deposits, 15 minutes; annual 
notice of new automated teller machines (ATMs), 5 hours; ATM changes in 
policy, 20 hours; notice of nonpayment, 1 minute; expedited recredit 
for consumers, 15 minutes; expedited recredit for banks, 15 minutes; 
consumer awareness, 1 minute. Consumers: expedited recredit claim 
notice, 15 minutes.
    Number of respondents: 1,105
    General description of report: This information collection is 
mandatory. Reg CC is authorized pursuant the EFAA, as amended, and the 
Check 21 Act (12 U.S.C. Sec.  4008 and 12 U.S.C. 5014, respectively). 
Because the Federal Reserve does not collect any information, no issue 
of confidentiality arises. However, if, during a compliance examination 
of a financial institution, a

[[Page 44138]]

violation or possible violation of the EFAA or the Check 21 Act is 
noted then information regarding such violation may be kept 
confidential pursuant to Section (b)(8) of the Freedom of Information 
Act. 5U.S.C. Sec.  552(b)(8).
    Abstract: Regulation CC requires banks to make funds deposited in 
transaction accounts available within specified time periods, disclose 
their availability policies to customers, and begin accruing interest 
on such deposits promptly. The disclosures are intended to alert 
customers that their ability to use deposited funds may be delayed, 
prevent unintentional (and potentially costly) overdrafts, and allow 
customers to compare the policies of different banks before deciding at 
which bank to deposit funds. The regulation also requires notice to the 
depositary bank and to a customer of nonpayment of a check. Model 
disclosure forms, clauses, and notices are appended to the regulation 
to ease compliance.

    Board of Governors of the Federal Reserve System, August 2, 
2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-15298 Filed 8-6-07; 8:45 am]
BILLING CODE 6210-01-S