[Federal Register Volume 83, Number 35 (Wednesday, February 21, 2018)]
[Notices]
[Pages 7474-7475]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03544]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Reports of Deposits (FR 2900; OMB No. 7100-0087).

DATES: Comments must be submitted on or before April 23, 2018.

ADDRESSES: You may submit comments, identified by FR 2900, FR 2910a, FR 
2915, or FR 2930, by any of the following methods:
     Agency Website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx .
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, 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 website at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx 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 
3515, 1801 K Street (between 18th and 19th Streets NW), Washington, DC 
20006 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 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/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. In exercising this delegated authority, the 
Board is directed to take every reasonable step to solicit comment. In 
determining whether to approve a collection of information, the Board 
will consider all comments received from the public and other agencies.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve

[[Page 7475]]

should modify the proposal prior to giving final approval.

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

    Report title: Report of Transaction Accounts, Other Deposits, and 
Vault Cash (FR 2900); Annual Report of Deposits and Reservable 
Liabilities (FR 2910a); Report of Foreign (Non-U.S.) Currency Deposits 
(FR 2915); and Allocation of Low Reserve Tranche and Reservable 
Liabilities Exemption (FR 2930).
    Agency form number: FR 2900; FR 2910a; FR 2915; and FR 2930.
    OMB control number: 7100-0087.
    Frequency: Weekly, quarterly, annually, and on occasion.
    Respondents: Depository institutions.
    Estimated number of respondents: FR 2900 (Weekly), 2,007; FR 2900 
(Quarterly), 4,395; FR 2910a, 2,941; FR 2915, 122; and FR 2930, 93.
    Estimated average hours per response: FR 2900 (Weekly), 1.25; FR 
2900 (Quarterly), 3; FR 2910a, 0.75; FR 2915, 0.5; and FR 2930, 0.25.
    Estimated annual burden hours: FR 2900 (Weekly), 130,455; FR 2900 
(Quarterly), 52,740; FR 2910a, 2,206; FR 2915, 244; FR 2930, 23.
    General description of reports: Data from these mandatory reports 
are used by the Board for administering Regulation D (Reserve 
Requirements of Depository Institutions) and for constructing, 
analyzing, and monitoring the monetary and reserve aggregates. The FR 
2900 is the primary source of data used for the calculation of required 
reserves and applied vault cash, and for the construction and analysis 
of the monetary aggregates. Data are also used for indexing the 
exemption amount and low reserve tranche amount each year, as required 
by statute and for indexing the nonexempt deposit cutoff and reduced 
reporting limit each year, as determined by the Board, amounts which 
determine whether depository institutions file the FR 2900 either 
weekly or quarterly. The FR 2910a is generally submitted by exempt 
institutions whose total deposits (as shown on their December Call 
Report) \1\ are greater than the exemption amount. 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 to exclude them from measures of the monetary 
aggregates. The FR 2930 data are collected when the low reserve tranche 
and reservable liabilities exemption thresholds are adjusted toward the 
end of each calendar year or upon the establishment of an office 
outside the home state or Federal Reserve District.
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    \1\ In this document, the term Call Report refers to the 
Consolidated Reports of Condition and Income (FFIEC 031, FFIEC 041, 
and FFIEC 051; OMB No. 7100-0036) filed by commercial banks, Report 
of Assets and Liabilities of U.S. Branches and Agencies of Foreign 
Banks (FFIEC 002; OMB No. 7100-0032), Statement of Financial 
Condition (NCUA 5300; OMB No. 3133-0004) filed by credit unions, and 
Consolidated Report of Condition and Income for Edge and Agreement 
Corporations (FR 2886b; OMB No. 7100-0086).
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    Proposed revisions: The Board proposes raising the nonexempt 
deposit cutoff to $1 billion, substantially increasing the cutoff from 
its indexed amount of $457.5 million that is set to take effect in 
September 2018. This proposed increase in the nonexempt deposit cutoff 
would reduce reporting burden on depository institutions while 
maintaining accurate measurements of the money and reserves aggregates. 
With this increase, the Board estimates that approximately 1,000 
depository institutions would become newly eligible to elect to shift 
from weekly to quarterly FR 2900 reporting. However, consistent with 
current policy, newly eligible institutions for quarterly reporting may 
elect to continue reporting weekly. There are no changes proposed for 
the FR 2910a, FR 2915, or FR 2930.
    Legal authorization and confidentiality: The information collected 
on these reports is authorized under sections 11, 25(7), and 25A(17) of 
the Federal Reserve Act (FRA), and section 7 of the International 
Banking Act (IBA). Section 11 of the FRA (12 U.S.C. 248(a)) authorizes 
the Board to require reports from each member bank as it may deem 
necessary and authorizes the Board to prescribe reports of liabilities 
and assets from insured depository institutions to enable the Board to 
discharge its responsibility to monitor and control monetary and credit 
aggregates. Sections 25(7) and 25A(17) of the FRA (12 U.S.C. 604a and 
625) authorize the Board to require Edge and agreement corporations to 
make reports to the Board. Section 7 of the IBA (12 U.S.C. 3105(c)(2)) 
authorizes the Board to require reports from U.S. branches and agencies 
of foreign banks. The FR 2900, FR 2910a, FR 2915, and FR 2930 are all 
mandatory. The release of data collected on these forms would likely 
cause substantial harm to the competitive position of the respondent if 
made publicly available. The data collected on these forms, therefore, 
may be kept confidential under exemption 4 of the Freedom of 
Information Act, which protects from disclosure trade secrets and 
commercial or financial information (5 U.S.C. 552(b)(4)).

    Board of Governors of the Federal Reserve System, February 15, 
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-03544 Filed 2-20-18; 8:45 am]
 BILLING CODE 6210-01-P