[Federal Register Volume 76, Number 236 (Thursday, December 8, 2011)]
[Notices]
[Pages 76730-76732]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-31431]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: 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), 
pursuant to 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.

DATES: Comments must be submitted on or before February 6, 2012.

ADDRESSES: You may submit comments, identified by FR 2644, FR 2835, FR 
2835a, or FR 2502q, 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.
     Email: [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 may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed --Office of Information and Regulatory 
Affairs, 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.
    Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829). Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869), Board of 
Governors of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: 

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

[[Page 76731]]

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;
    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; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposals To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision of the Following Reports

    1. Report title: Weekly Report of Selected Assets and Liabilities 
of Domestically Chartered Commercial Banks and U.S. Branches and 
Agencies of Foreign Banks.
    Agency form number: FR 2644.
    OMB control number: 7100-0075.
    Frequency: Weekly.
    Reporters: Domestically chartered commercial banks and U.S. 
branches and agencies of foreign banks.
    Estimated annual reporting hours: 120,575 hours.
    Estimated average hours per response: 2.65 hours.
    Number of respondents: 875.
    General description of report: The FR 2644 is authorized by section 
2A and 11(a)(2) of the Federal Reserve Act (12 U.S.C. 225(a) and 
248(a)(2)) and by section 7(c)(2) of the International Banking Act (12 
U.S.C. 3105(c)(2)) and is voluntary. Individual respondent data are 
regarded as confidential under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: The FR 2644 is the primary source of high-frequency data 
used in the analysis of current banking developments. The FR 2644 
collects sample data that are used to estimate universe levels using 
data from the quarterly commercial bank Consolidated Reports of 
Condition and Income (FFIEC 031 and 041; OMB No. 7100-0036) and the 
Report of Assets and Liabilities of U.S. Branches and Agencies of 
Foreign Banks (FFIEC 002; OMB No. 7100-0032) (Call Reports). Data from 
the FR 2644, together with data from other sources, are used to 
construct weekly estimates of bank credit, balance sheet data for the 
U.S. banking industry, sources and uses of banks' funds, and to analyze 
banking developments.
    Current actions: No changes are proposed to the FR 2644; however, 
going forward, the Federal Reserve would modify the FR 2644 
instructions as needed to maintain consistency with any instructional 
revisions to the Call Reports that might occur during the three year 
extension period.
    2. Report title: Quarterly Report of Interest Rates on Selected 
Direct Consumer Installment Loans; Quarterly Report of Credit Card 
Plans.\1\
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    \1\ This family of reports also contains the following voluntary 
reports, which have fewer than 10 respondents and do not require an 
OMB control number: Automobile Finance Terms (FR 2005) and the 
Passenger Auto Contract Collection Trends (FR 2012). The Federal 
Reserve proposes to combine FR 2005 and the FR 2012 into one 
reporting form, the Automobile Finance Company Report (FR 2512) with 
no changes to the data items reported.
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    Agency form number: FR 2835; FR 2835a.
    OMB control number: 7100-0085.
    Frequency: Quarterly.
    Reporters: Commercial banks.
    Estimated annual reporting hours: FR 2835, 132 hours; FR 2835a: 100 
hours.
    Estimated average hours per response: FR 2835, .22 hours; FR 2835a: 
.50 hours.
    Number of respondents: FR 2835, 150; FR 2835a, 50.
    General description of report: These information collections are 
voluntary (12 U.S.C. 248(a)(2)). The FR 2835a individual respondent 
data are given confidential treatment (5 U.S.C. 552 (b)(4)). The FR 
2835 data, however, are not given confidential treatment.
    Abstract: The FR 2835 collects information from a sample of 
commercial banks on interest rates charged on loans for new vehicles 
and loans for other consumer goods and personal expenses. The data are 
used for the analysis of household financial conditions.
    The FR 2835a collects information on two measures of credit card 
interest rates from a sample of commercial banks with $1 billion or 
more in credit card receivables and a representative group of smaller 
issuers. The data are used to analyze the credit card market and draw 
implications for the household sector.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, With Revision of the Following Report

    1. Report title: Quarterly Report of Assets and Liabilities of 
Large Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Reporters: Major foreign branches and banking subsidiaries of U.S. 
depository institutions that are located in the Caribbean or the United 
Kingdom.
    Estimated annual reporting hours: 574 hours.
    Estimated average hours per response: 3.5 hours.
    Number of respondents: 41.
    General description of report: This information collection is 
required (12 U.S.C. 248(a)(2), 461, 602, and 625) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2502q collects data quarterly on the geographic 
distribution of the assets and liabilities of major U.K. or Caribbean 
branches and subsidiaries of U.S. commercial banks, bank holding 
companies, including financial holding companies, and of banking Edge 
and agreement corporations. Data from this reporting form comprise a 
piece of the flow of funds data that are compiled by the Federal 
Reserve. FR 2502q data also helps the Federal Reserve understand the 
nature of activities of foreign offices of U.S. banks, particularly the 
scope of cross-border activity that is conducted by different foreign 
offices in the United Kingdom and the Caribbean.
    Current Actions: The Federal Reserve proposes several revisions to 
the FR 2502q reporting form and instructions. The reporting form would 
be modified by removing Netherland Antilles (Country code: 37206) from 
the list of reportable countries and adding Curacao and Saint Maarten 
to the country list with Bonaire, St. Eustatius and Saba to be covered 
in Other Latin America and Caribbean. These proposed changes to the FR 
2502q country list are necessary since Netherland Antilles was 
dissolved in October 2010 and the dissolution resulted in the creation 
of Curacao and Saint Maarten as separate countries and Bonaire, St. 
Eustatius and Saba as municipalities of the Netherlands.
    In addition, the Federal Reserve proposes the following revisions 
to the FR 2502q instructions: (1) Clarify that entities located outside 
of the United Kingdom and the Caribbean are not required to file the 
report and (2) clarify that securities purchased and sold under resale 
and repurchase agreements can be netted if they meet the

[[Page 76732]]

requirements outlined in FASB Interpretation No. 41, ``Offsetting of 
Amounts Related to Certain Repurchase and Reverse Repurchase 
Agreements'' (FIN 41).
    The FR 2502q instructions would also be modified to indicate that 
countries or dependencies not listed on the reporting form should be 
summed in each proposed regional subtotal, rather than current data 
item, ``UNALLOCATED''. In addition, the Federal Reserve would make 
minor changes to the FR 2502q instructions to enhance clarity.


    Board of Governors of the Federal Reserve System, December 2, 
2011.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2011-31431 Filed 12-7-11; 8:45 am]
BILLING CODE 6210-01-P