[Federal Register Volume 80, Number 141 (Thursday, July 23, 2015)]
[Notices]
[Pages 43774-43776]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18056]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: Notice is hereby given of the final approval of proposed 
information collections by the Board of Governors of the Federal 
Reserve System (Board) under OMB delegated authority, as per 5 CFR 
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). 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 
instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, 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.
    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.
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following report:
    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: 192,473.
    Estimated average hours per response: 1.25 hours for weekly filers 
and 3 hours for quarterly filers.
    Number of respondents: 2,053 weekly and 4,919 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 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.
    Current Actions: On May 12, 2015 the Federal Reserve published a 
notice in the Federal Register (80 FR 27171) requesting public comment 
for 60 days on the extension, with revision, of the Report of 
Transaction Accounts, Other Deposits, and Vault Cash. The comment 
period for this notice expired on July 13, 2015. The Federal Reserve 
received one comment supporting the revisions. The revisions will be 
implemented as proposed, effective with an October 2015 as-of date.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
    1. 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 hours per response: 0.5 hours.
    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,

[[Page 43775]]

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.
    Current Actions: On May 14, 2015, the Federal Reserve published a 
notice in the Federal Register (80 FR 27686) requesting public comment 
for 60 days on the extension, without revision, of the Supervisory and 
Regulatory Survey. The comment period for this notice expired on July 
13, 2015. The Federal Reserve did not receive any comments. The 
information collection will be extended for three years, without 
revision, as proposed.
    2. 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: Consumer Surveys: Quantitative 
and general surveys, 4,000 hours, Financial institution consumers, 
1,000 hours, and Qualitative surveys, 600 hours; Financial institution 
survey: Financial institution staff, 150 hours; Stakeholder surveys: 
Stakeholder clientele, 500 hours and Stakeholder staff, 300 hours.
    Estimated average hours per response: Consumer surveys: 
Quantitative and general surveys, 0.5 hours, Financial institution 
consumers, 0.5 hours and Qualitative surveys, 1.5 hours; Financial 
institution survey: Financial institution staff, 1.5 hours; Stakeholder 
surveys: Stakeholder clientele, 0.5 hours and Stakeholder staff, 1.5 
hours.
    Number of respondents: Consumer surveys: Quantitative and general 
surveys, 2000 respondents, Financial institution consumers, 500 
respondents and Qualitative surveys, 100 respondents; Financial 
institution surveys: Financial institution staff, 25 respondents; 
Stakeholder surveys: Stakeholder clientele, 500 respondents and 
Stakeholder staff, 100 respondents.
    General description of report: This information collection is 
generally voluntary (Federal Reserve Act, Sections 2A and 12A (12 
U.S.C. 225a and 263)). In addition, depending upon the survey questions 
asked, the information collection may be authorized under one or more 
consumer protection statutes (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 and 1693o-2); Gramm-Leach-Bliley Act, (15 U.S.C. 
6801(b)); and Flood Disaster Protections Act of 1973, (42 U.S.C. 
4012a)). Additionally, depending on the survey respondent, the 
information collection may be authorized under a more specific statute 
(Federal Reserve Act, Section 9, 25, and 25A (12 U.S.C. 324, 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))). 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 authorized under the specific statutes noted above, the 
Federal Reserve could make the obligation to respond mandatory. In 
circumstances where the Board collects that data or the contractor 
provides the identifying information to the Board, such information 
could possibly be protected from Freedom of Information Act (FOIA) 
disclosure by FOIA exemptions 4 and 6 (5 U.S.C. 552(b)(4) and (6)).
    Abstract: Board staff uses this event-driven survey to obtain 
information specifically tailored to the Federal Reserve's supervisory, 
regulatory, operational, informational, and other responsibilities. 
Board staff is authorized to conduct 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. Respondents comprise individuals, 
households, and financial and non-financial businesses. The annual 
burden is estimated to be 6,550 hours, based on twenty surveys: Three 
quarterly consumer-focused, one quarterly financial institution study, 
and two semi-annual stakeholder-focused surveys. The surveys are used 
to gather qualitative and quantitative information directly from: 
Consumers (consumer surveys), financial institutions and other 
financial companies offering consumer financial products and services 
(financial institution survey), and other stakeholders, such as state 
or local agencies, community development organizations, brokers, 
appraisers, settlement agents, software vendors, and consumer groups 
(stakeholder surveys).
    Current Actions: On May 14, 2015, the Federal Reserve published a 
notice in the Federal Register (80 FR 27686) requesting public comment 
for 60 days on the extension, without revision, of the Consumer 
Financial Stability Surveys. The comment period for this notice expired 
on July 13, 2015. The Federal Reserve did not receive any comments. The 
information collection will be extended for three years, without 
revision, as proposed.
    3. Report title: Annual Report of Deposits and Reservable 
Liabilities.
    Agency form number: FR 2910a.
    OMB control number: 7100-0175.
    Frequency: Annually.

[[Page 43776]]

    Reporters: Depository institutions.
    Estimated annual reporting hours: 2,551.
    Estimated average hours per response: 0.75 hours.
    Number of respondents: 3,401.
    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 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.
    Current Actions: On May 12, 2015 the Federal Reserve published a 
notice in the Federal Register (80 FR 27171) requesting public comment 
for 60 days on the extension, without revision, of the Annual Report of 
Deposits and Reservable Liabilities. The comment period for this notice 
expired on July 13, 2015. The Federal Reserve did not receive any 
comments. The information collection will be extended for three years, 
without revision, as proposed.
    4. 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.
    Estimated annual reporting hours: 288.
    Estimated average hours per response: 0.5 hours.
    Number of respondents: 144.
    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 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 quarterly on the same reporting schedule as quarterly 
FR 2900 respondents. Foreign currency deposits are subject to reserve 
requirements and, therefore, are included in the FR 2900 data. However, 
because foreign currency deposits are not included in the monetary 
aggregates, the FR 2915 data are used to net foreign currency-
denominated deposits from the FR 2900 data in order to exclude them 
from measures of the monetary aggregates. The FR 2915 is the only 
source of data on such deposits.
    Current Actions: On May 12, 2015 the Federal Reserve published a 
notice in the Federal Register (80 FR 27171) requesting public comment 
for 60 days on the extension, without revision, of the Report of 
Foreign (Non-U.S.) Currency Deposits. The comment period for this 
notice expired on July 13, 2015. The Federal Reserve did not receive 
any comments. The information collection will be extended for three 
years, without revision, as proposed.
    5. 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.
    Estimated annual reporting hours: 30.
    Estimated average hours per response: 0.25 hours.
    Number of respondents: 120.
    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 204). The data are given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: Institutions with offices (or groups of offices) in more 
than one state or Federal Reserve District, or those operating under 
operational convenience, are required to file the FR 2930 at least 
annually. An institution's net transaction accounts up to the exemption 
amount ($14.5 million in 2015) are reserved at zero percent. Net 
transaction accounts up to the low reserve tranche ($103.6 million in 
2015) are reserved at 3 percent while amounts in excess of this amount 
are reserved at 10 percent. Only a single exemption amount and a single 
low reserve tranche are allowed per depository institution (including 
subsidiaries). Therefore, an institution that submits separate FR 2900 
reports covering different offices is required to file the FR 2930 at 
least annually to allocate its reservable liabilities exemption and low 
reserve tranche among its offices. The Federal Reserve Board does not 
propose any changes to this report.
    Current Actions: On May 12, 2015 the Federal Reserve published a 
notice in the Federal Register (80 FR 27171) requesting public comment 
for 60 days on the extension, without revision, of the Allocation of 
Low Reserve Tranche and Reservable Liabilities Exemption. The comment 
period for this notice expired on July 13, 2015. The Federal Reserve 
did not receive any comments. The information collection will be 
extended for three years, without revision, as proposed.

    Board of Governors of the Federal Reserve System, July 20, 2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-18056 Filed 7-22-15; 8:45 am]
BILLING CODE 6210-01-P