[Federal Register Volume 74, Number 135 (Thursday, July 16, 2009)]
[Notices]
[Pages 34577-34579]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-16911]


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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 
Part 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 September 14, 2009.

ADDRESSES: You may submit comments, identified by FR 2900, FR 2910a, FR 
2915, FR 2930, FR 3052, or FR 3053 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 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 http://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, 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 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 Web site at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.
    Cynthia Ayouch, Federal Reserve Board Acting 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: Report of Transaction Accounts, Other Deposits and 
Vault Cash.
    Agency form number: FR 2900.
    OMB control number: 7100-0087.
    Frequency: Weekly, quarterly.
    Reporters: Depository institutions.
    Estimated annual reporting hours: 598,738 hours.
    Estimated average time per response: 3.50 hours.
    Number of respondents: 2,914 weekly and 4,885 quarterly.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: Institutions with net transaction accounts greater than 
the

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exemption amount are called nonexempt institutions. Institutions with 
total transaction accounts, savings deposits, and small time deposits 
greater than or equal to the reduced reporting limit, regardless of the 
level of their net transaction accounts, are also referred to as 
nonexempt institutions. Nonexempt institutions submit FR 2900 data 
either weekly or quarterly. An institution is required to report weekly 
if its total transaction accounts, savings deposits, and small time 
deposits are greater than or equal to the nonexempt deposit cutoff. If 
the nonexempt institution's total transaction accounts, savings 
deposits, and small time deposits are less than the nonexempt deposit 
cutoff, then the institution must report quarterly. U.S. branches and 
agencies of foreign banks and banking Edge and agreement corporations 
submit the FR 2900 data on a weekly basis, regardless of their size. 
These mandatory data are used by the Federal Reserve for administering 
Regulation D (Reserve Requirements of Depository Institutions) and for 
constructing, analyzing, and monitoring the monetary and reserve 
aggregates.
    2. Report title: Annual Report of Deposits and Reservable 
Liabilities.
    Agency form number: FR 2910a.
    OMB control number: 7100-0175.
    Frequency: Annually.
    Reporters: Depository institutions.
    Annual reporting hours: 3,605 hours.
    Estimated average time per response: 45 minutes.
    Number of respondents: 4,807.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), and 461) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2910a is an annual report generally filed by 
depository institutions that are exempt from reserve requirements under 
the Garn-St Germain Depository Institutions Act of 1982 and whose total 
deposits, measured from depository institutions' December quarterly 
condition reports, are greater than the exemption amount but less than 
the reduced reporting limit. The report contains three data items that 
are to be submitted for a single day, June 30: (1) Total transaction 
accounts, savings deposits, and small time deposits; (2) reservable 
liabilities; and (3) net transaction accounts. The data collected on 
this report serves two purposes. First, the data are used to determine 
which depository institutions will remain exempt from reserve 
requirements and consequently eligible for reduced reporting for 
another year. Second, the data are used in the annual indexation of the 
low reserve tranche, the exemption amount, the nonexempt deposit 
cutoff, and the reduced reporting limit. These mandatory data are used 
by the Federal Reserve for administering Regulation D (Reserve 
Requirements of Depository Institutions) and for constructing, 
analyzing, and monitoring the monetary and reserve aggregates.
    3. Report title: Report of Foreign (Non-U.S.) Currency Deposits.
    Agency form number: FR 2915.
    OMB control number: 7100-0237.
    Frequency: Quarterly.
    Reporters: Depository institutions.
    Annual reporting hours: 230 hours.
    Estimated average time per response: 30 minutes.
    Number of respondents: 115.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(2) and 347(d)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: All FR 2900 respondents, both weekly and quarterly, that 
offer deposits denominated in foreign currencies at their U.S. offices 
file the FR 2915. FR 2915 data are used to remove foreign currency 
deposits from aggregated FR 2900 data in constructing the monetary 
aggregates. All weekly and quarterly FR 2900 respondents offering 
foreign currency deposits file the FR 2915 quarterly, on the same 
reporting schedule as quarterly FR 2900 respondents. The FR 2915 is the 
only source of data on such deposits.
    4. Report title: Allocation of Low Reserve Tranche and Reservable 
Liabilities Exemption.
    Agency form number: FR 2930.
    OMB control number: 7100-0088.
    Frequency: Annually and on occasion.
    Reporters: Depository institutions.
    Annual reporting hours: 33 hours.
    Estimated average time per response: 15 minutes.
    Number of respondents: 133.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2930 provides information on the allocation of the 
low reserve tranche and the reservable liabilities exemption for 
depository institutions with offices in more than one State or Federal 
Reserve District or for those operating under operational convenience. 
For calculation of required reserves on net transaction accounts, there 
is a low reserve tranche within which deposits are reserved at a lower 
reserve requirement ratio than are amounts in excess of the low reserve 
tranche. Within the low reserve tranche, deposits under the reservable 
liabilities exemption amount are reserved at zero. All U.S. offices of 
the same parent depository institution share one low reserve tranche 
and one reservable liabilities exemption. This report provides the 
basis for allocating these amounts across separate reporting offices.
    Proposal to approve under OMB delegated authority the 
implementation of the following reports:
    1. Report title: Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100--to be assigned.
    Frequency: On occasion.
    Reporters: Financial businesses.
    Estimated annual reporting hours: 60,000 hours.
    Estimated average time per response: 30 minutes.
    Estimated number of respondents: 5,000.
    General description of report: This information collection is 
authorized pursuant to the: Federal Reserve Act, Sections 2A, 9, 12A, 
25, and 25A (12 U.S.C. 225a, 324, 263, 602, and 625); Bank Holding 
Company Act, Section 5(c) (12 U.S.C. 1844(c)); International Banking 
Act of 1978, Section 7(c)(2) (12 U.S.C. 3105(c)(2)); and Federal 
Deposit Insurance Act, Section 7(a) (12 U.S.C. 1817(a)). Generally, 
respondent participation is voluntary. However, with respect to 
collections of information from state member banks, bank holding 
companies (and their subsidiaries), Edge and agreement corporations, 
and U.S. branches and agencies of foreign banks supervised by the 
Federal Reserve, the Federal Reserve could make the surveys mandatory. 
The ability of the Federal Reserve to maintain the confidentiality of 
information provided by respondents to the FR 3052 surveys would be 
determined on a case-by-case basis depending on the type of information 
provided for a particular survey. Depending upon the survey questions, 
confidential treatment could be warranted under subsections (b)(4), 
(b)(6), and (b)(8) of the Freedom of Information Act. 5 U.S.C. 
552(b)(4), (6), and (8).
    Abstract: The supervision and policy functions of the Federal 
Reserve have occasional need to gather data on an ad-hoc basis from the 
banking and financial industries on their financial condition (outside 
of the standardized regulatory reporting process) to respond to changes 
in economic or other factors. Further, the data may relate to a 
particular business activity that requires a more detailed presentation 
of the information than is available through regulatory

[[Page 34579]]

reports [such as the (FFIEC 031 and FFIEC 041; OMB No. 7100-0036) 
(FFIEC 002; OMB No. 7100-0032) (FR 2886b; OMB No. 7100-0086) and the 
(FR Y-9C; OMB No. 7100-0128]. These data may be particularly needed in 
times of critical economic or regulatory changes or when issues of 
immediate supervisory concern arise from Federal Reserve supervisory 
initiatives and working groups or requests from Board Members and the 
Congress. The Federal Reserve would use this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, and other responsibilities. The 
Federal Reserve proposes to conduct the FR 3052 up to 24 times per 
year. The frequency and content of the questions would depend on 
changing economic, regulatory, or legislative developments.
    2. Report title: Consumer Protection Surveys.
    Agency form number: FR 3053.
    OMB control number: 7100--to be assigned.
    Frequency: On occasion.
    Reporters: Consumers, households, and financial and non-financial 
businesses.
    Estimated annual reporting hours: 6,550 hours.
    Estimated average time per response:
    Consumer studies: Quantitative and general studies, .5 hours; 
financial institution consumers, .5 hours; qualitative studies, 1.5 
hours;
    Financial institution study: Financial institution staff, 1.5 
hours; and
    Stakeholder studies: Stakeholder clientele, .5 hours; stakeholder 
staff, 1.5 hours.

    Estimated number of respondents:
    Consumer studies: Quantitative and general studies, 2,000; 
financial institution consumers, 500; qualitative studies, 100;
    Financial institution study: Financial institution staff, 25; and
    Stakeholder studies: Stakeholder clientele, 500; stakeholder staff, 
100.

    General description of report: This information collection is 
authorized pursuant to the: Home Mortgage Act, Section 806 (12 U.S.C. 
2804(a)); Community Reinvestment Act, Section 806 (12 U.S.C. 2905); 
Competitive Equality Banking Act, Section 1204 (12 U.S.C. 3806); 
Expedited Funds Availability Act, Section 609 (12 U.S.C. 4008); Truth 
in Saving Act, Section 269 (12 U.S.C. 4308); Federal Trade Commission 
Act, Section 18(f) (15 U.S.C. Sec.  57a(f)); Truth in Lending Act, 
Section 105 (15 U.S.C. 1604); Mortgage Disclosure Improvement Act, 
Sections 2501 through 2503 of the Housing and Economic Recovery Act of 
2008 (15 U.S.C. 1638(b)(2)); Higher Education Opportunity Act of 2008, 
Section 1021(a) (15 U.S.C. 1638(e)(5)); Consumer Leasing Act of 1976, 
Section 1021(a)(15 U.S.C. 1667f); Fair Credit Reporting Act, Section 
621 (15 U.S.C. 1681s(e)); Equal Credit Opportunity Act, Section 703 (15 
U.S.C. 1691b(a)); Electronic Funds Transfer Act, Section 904 (15 U.S.C. 
1693b); Gramm-Leach-Bliley Act, Section 504 (15 U.S.C. 6804); and Flood 
Disaster Protections Act of 1973, Section 102 (42 U.S.C. 4012a). 
Respondent participation in these surveys is voluntary. The ability of 
the Federal Reserve to maintain the confidentiality of information 
provided by respondents to the FR 3053 surveys will be determined on a 
case-by-case basis depending on the type of information provided for a 
particular survey. Depending upon the survey questions, confidential 
treatment could be warranted under the Freedom of Information Act. 5 
U.S.C. 552(b)(4) and (6).
    Abstract: The Federal Reserve would use this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, informational, and other 
responsibilities. This survey would gather qualitative and quantitative 
information directly from: Consumers (consumer studies), financial 
institutions and other financial companies offering consumer financial 
products and services (financial institution study), and other 
stakeholders, such as State or local agencies, community development 
organizations, brokers, appraisers, settlement agents, software 
vendors, and consumer groups (stakeholder studies). The Federal Reserve 
proposes to conduct the FR 3053 up to 20 times per year. The frequency 
and content of the questions would depend on changing economic, 
regulatory, or legislative developments.

    Board of Governors of the Federal Reserve System, July 13, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9-16911 Filed 7-15-09; 8:45 am]
BILLING CODE 6210-01-P