[Federal Register Volume 77, Number 100 (Wednesday, May 23, 2012)]
[Notices]
[Pages 30532-30535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-12473]


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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 July 23, 2012.

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.
     Email: regs.comments@ federalreserve.gov. Include OMB 
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 
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 
9:00 a.m. and 5:00 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

[[Page 30533]]

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 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.
    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 and quarterly.
    Reporters: Depository institutions.
    Estimated annual reporting hours: 549,878 hours.
    Estimated average time per response: 3.50 hours.
    Number of respondents: 2,669 weekly and 4,580 quarterly.
    General description of report: This information collection is 
mandatory by the Federal Reserve Act (12 U.S.C. 248(a), 461, 603, and 
615) and Regulation D (12 CFR part 204). The data are given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: Institutions with net transaction accounts greater than 
the 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 or may elect 
to report weekly. U.S. branches and agencies of foreign banks and 
banking Edge and agreement corporations submit the FR 2900 data weekly, 
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: 3,503 hours.
    Estimated average time per response: 45 minutes.
    Number of respondents: 4,670.
    General description of report: This information collection is 
mandatory by the Federal Reserve Act (12 U.S.C. 248(a) and 461) and 
Regulation D (12 CFR part 204). The data are 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 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: 284 hours.
    Estimated average time per response: 30 minutes.
    Number of respondents: 142.
    General description of report: This information collection is 
mandatory by the Federal Reserve Act (12 U.S.C. 248(a) and 347(d)) and 
Regulation D (12 CFR part 204). The data are 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: 32 hours.
    Estimated average time per response: 15 minutes.
    Number of respondents: 126.
    General description of report: This information collection is 
mandatory by

[[Page 30534]]

the Federal Reserve Act (12 U.S.C. 248(a), 461, 603, and 615) and 
Regulation D (12 CFR part 204). The data are 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.
    5. Report title: Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100-0322.
    Frequency: On occasion.\1\
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    \1\ The Federal Reserve conducts the survey as needed up to 24 
times per year.
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    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, (12 U.S.C. 225a, 324, 
263, 602, and 625); Bank Holding Company Act, (12 U.S.C. 1844(c)); 
International Banking Act of 1978, (12 U.S.C. 3105(c)(2)); and Federal 
Deposit Insurance Act, (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 is 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 Federal Reserve 
have occasionally needed 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) and decisions that 
organizations have made to adjust to the changes in the economy. 
Further, the data may relate to a particular business activity that 
requires a more detailed presentation of the information than is 
available through regulatory 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 (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 uses this event-
driven survey to obtain information specifically tailored to the 
Federal Reserve's supervisory, regulatory, operational, and other 
responsibilities. The Federal Reserve conducts the survey as needed up 
to 24 times per year. The frequency and content of the questions depend 
on changing economic, regulatory, supervisory, or legislative 
developments.
    6. Report title: Consumer Financial Stability Surveys.
    Agency form number: FR 3053.
    OMB control number: 7100-0323.
    Frequency: On occasion.\2\
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    \2\ The Federal Reserve conducts the survey as needed up to 20 
times per year.
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    Reporters: Individuals, 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, 0.5 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, 0.5 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: Community Reinvestment Act, (12 U.S.C. 
2905); Competitive Equality Banking Act, (12 U.S.C. 3806); Expedited 
Funds Availability Act, (12 U.S.C. 4008); Truth in Lending Act, (15 
U.S.C. 1604); Fair Credit Reporting Act, (15 U.S.C. 1681s(e)); Equal 
Credit Opportunity Act, (15 U.S.C. 1691b); Electronic Funds Transfer 
Act, (15 U.S.C. 1693b); Gramm-Leach-Bliley Act, (15 U.S.C. 6801(b)); 
and Flood Disaster Protections Act of 1973, (42 U.S.C. 4012a). 
Additionally, depending upon the survey respondent, the information 
collection may be authorized under a more specific statute. 
Specifically, 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)). 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 uses this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, informational, and other 
responsibilities. The studies are used to 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 conducts the FR 3053 up to 20 times per year, although 
the survey may not be conducted that frequently. The frequency and 
content of the questions depends on changing economic, regulatory, or 
legislative developments as well as changes in the financial services 
industry itself.


[[Page 30535]]


    Board of Governors of the Federal Reserve System, May 18, 2012.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2012-12473 Filed 5-22-12; 8:45 am]
BILLING CODE 6210-01-P