[Federal Register Volume 72, Number 245 (Friday, December 21, 2007)]
[Notices]
[Pages 72725-72727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-24785]


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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 
(PRA), 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 February 19, 2008.

ADDRESSES: You may submit comments, identified by FR G-1, FR G-2, FR G-
3, FR G-4, FR T-4, FR U-1, FR 2225, FR 2226, or FR 3016 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 form in Room MP-
500 of the Board's Martin Building (20th and C Streets, N.W.) between 
9:00 a.m. and 5:00 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 PRA OMB submission 
including, the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public website at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.

[[Page 72726]]

    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 titles: Registration Statement for Persons Who Extend 
Credit Secured by Margin Stock (Other Than Banks, Brokers, or Dealers); 
Deregistration Statement forPersons Registered Pursuant to Regulation 
U; Statement of Purpose for an Extension ofCredit Secured by Margin 
Stock by a Person Subject to Registration Under Regulation U;Annual 
Report; Statement of Purpose for an Extension of Credit by a Creditor; 
andStatement of Purpose for an Extension of Credit Secured by Margin 
Stock.
    Agency form numbers: FR G-1, FR G-2, FR G-3, FR G-4, FR T-4, FR U-1
    OMB control numbers: 7100-0011: FR G-1, FR G-2, FR G-4; 7100-0018: 
FR G-3; 7100-0019: FR T-4; and 7100-0115: FR U-1
    Frequency: FR G-1, FR G-2, FR G-3, FR T-4, and FR U-1: on occasion 
FR G-4: annual
    Reporters: Individuals and business
    Annual reporting hours: 1,366 reporting; 107,757 recordkeeping
    Estimated average hours per response: FR G-1: 2.5 hours; FR G-2: 15 
minutes; FR G-3: 10 minutes; FR G-4: 2.0 hours; FR T-4: 10 minutes; and 
FR U-1: 10 minutes
    Number of respondents: FR G-1: 61; FR G-2: 36; FR G-3: 602; FR G-4: 
602;FR T-4: 5,100; and FR U-1: 6,931
    General description of report: These information collections are 
mandatory (15 U.S.C. Sec.  Sec.  78g). The information in the FR G-1 
and FR G-4 is given confidential treatment under the Freedom of 
Information Act (5 U.S.C. Sec.  Sec.  552(b)(4) and (6)). The FR G-2 
does not contain confidential information. The FR G-3, FR T-4, and FR 
U-1 are not submitted to the Federal Reserve and, as such, no issue of 
confidentiality arises.
    Abstract: The Securities Exchange Act of 1934 authorizes the 
Federal Reserve to regulate securities credit extended by brokers and 
dealers, banks, and other lenders. The purpose statements, FR T-4, FR 
U-1, and FR G-3, are recordkeeping requirements for brokers and 
dealers, banks, and other lenders, respectively, to document the 
purpose of their loans secured by margin stock. Margin stock is defined 
as (1) stocks that are registered on a national securities exchange or 
any over-the-counter security designated for trading in the National 
Market System, (2) debt securities (bonds) that are convertible into 
margin stock, and (3) shares of most mutual funds. Lenders other than 
brokers and dealers and banks must register and deregister with the 
Federal Reserve using the FR G-1 and FR G-2, respectively, and they 
must file an annual report (FR G-4) while registered. The Federal 
Reserve uses the data to identify lenders subject to Regulation U, to 
verify their compliance with the regulation, and to monitor margin 
credit.
    2. Report title: Annual Daylight Overdraft Capital Report for U.S. 
Branches and Agencies of Foreign Banks
    Agency form number: FR 2225
    OMB control number: 7100-0216
    Frequency: Annual
    Reporters: Foreign banks with U.S. branches or agencies
    Annual reporting hours: 54
    Estimated average hours per response: 1.0 hour
    Number of respondents: 54
    General description of report: This information collection is 
required to respond in order to obtain or retain a benefit, i.e., in 
order for the U.S. branch or agency of an FBO to establish and maintain 
a non-zero net debit cap. The information submitted by respondents is 
not confidential; however, respondents may request confidential 
treatment for portions of the report. Data may be considered 
confidential and exempt from disclosure under section (b)(4) of the 
Freedom of Information Act if it constitutes commercial or financial 
information and it would customarily not be released to the public by 
the person from whom it was obtained (5 U.S.C. Sec.  552(b)(4)).
    Abstract: This report was implemented in March 1986 as part of the 
procedures used to administer the Federal Reserve's Payments System 
Risk (PSR) policy. A key component of the PSR policy is a limit, or a 
net debit cap, on an institution's negative intraday balance in its 
Reserve Bank account. The Federal Reserve calculates an institution's 
net debit cap by applying the multiple associated with the net debit 
cap category to the institution's capital. For foreign banking 
organizations (FBOs), a percentage of the FBO's capital measure, known 
as the U.S. capital equivalency, is used to calculate the FBO's net 
debit cap. Currently, an FBO with U.S. branches or agencies may 
voluntarily file the FR 2225 to provide the Federal Reserve with its 
capital measure. Because an FBO that files the FR 2225 may be able to 
use its total capital in determining its U.S capital equivalency 
measure, which is then used to calculate its net debit cap, an FBO 
seeking to maximize its daylight overdraft capacity may find it 
advantageous to file the FR 2225. An FBO that does not file FR 2225 may 
use an alternative capital measure based on its nonrelated liabilities.
    3. Report title: Ongoing Intermittent Survey of Households
    Agency form number: FR 3016
    OMB control number: 7100-0150
    Frequency: On occasion
    Reporters: Households and individuals
    Annual reporting hours: 683 hours
    Estimated average hours per response: Division of Research & 
Statistics, 1.58 minutes; Division of Consumer & Community Affairs, 3 
minutes; Other divisions, 5 minutes; and Non-SRC surveys, 90 minutes
    Number of respondents: 600
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a, 263, and 15 U.S.C. 1691b). No issue of 
confidentiality normally arises because names and any other 
characteristics that would permit personal identification of 
respondents are not reported to the Federal Reserve Board. However, 
exemption 6 of the Freedom of Information Act (5 U.S.C. 552(b)(6)) 
would exempt this information from disclosure.
    Abstract: The Federal Reserve uses this voluntary survey to obtain 
household-based information specifically tailored to the Federal 
Reserve's policy, regulatory, and operational responsibilities. 
Currently, the University of Michigan's Survey Research Center (SRC) 
includes survey questions on behalf of the Federal Reserve in an 
addendum to their regular monthly Survey of Consumer Attitudes and 
Expectations. The SRC conducts the survey by telephone with a sample of 
500 households and asks questions of special interest to Federal 
Reserve Board staff intermittently, as needed. The frequency and 
content of the questions depend on changing economic, regulatory, and 
legislative developments.

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

    Report title: Report of Net Debit Cap
    Agency form number: FR 2226
    OMB control number: 7100-0217
    Frequency: Annual

[[Page 72727]]

    Reporters: Depository institutions, Edge and agreement 
corporations, U.S. branches and agencies of foreign banks
    Annual reporting hours: 1,623 hours
    Estimated average hours per response: 1.0 hour
    Number of respondents: 1,623
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(i), 248-1, and 464). The information submitted 
by respondents for the payments system risk reduction program may be 
accorded confidential treatment under the Freedom of Information Act 
(FOIA) (5 U.S.C. Sec.  552 (b)(4)). In addition, information reported 
in connection with the second and third resolutions may be protected 
under Section (b)(8) of FOIA, to the extent that such information is 
based on the institution's CAMELS rating, and thus is related to 
examination reports prepared by, on behalf of, or for the use of an 
agency responsible for the regulation or supervision of financial 
institutions (5 U.S.C. Sec.  552(b)(8)).
    Abstract: Federal Reserve Banks collect these data annually to 
provide information that is essential for their administration of the 
Federal Reserve's Payments System Risk (PSR) policy. The reporting 
panel includes all financially healthy depository institutions with 
access to the discount window. The Report of Net Debit Cap comprises 
three resolutions, which are filed by a depository institution's board 
of directors depending on its needs. The first resolution is used to 
establish a de minimis net debit cap and the second resolution is used 
to establish a self-assessed net debit cap. The third resolution is 
used to establish simultaneously a self-assessed net debit cap and 
maximum daylight overdraft capacity. Copies of the model resolutions 
are located in Appendix B, of the PSR policy, that can be found at 
http://www.federalreserve.gov/paymentsystems/psr/relpol.htm.
    Current actions: In an effort to streamline the resolutions filed 
by institutions eligible for maximum daylight overdraft capacity, two 
former resolutions were combined into one: resolution 3a, 
collateralized capacity, and resolution 3b, in-transit securities. 
These resolutions were replaced by the maximum daylight overdraft 
capacity resolution that combines the board of directors' approval of 
the institution's self-assessment as well as its maximum daylight 
overdraft capacity level.

    Board of Governors of the Federal Reserve System, December 17, 
2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-24785 Filed 12-20-07; 8:45 am]
BILLING CODE 6210-01-S