[Federal Register Volume 83, Number 36 (Thursday, February 22, 2018)]
[Notices]
[Pages 7725-7726]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03549]


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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, without 
revision, the Quarterly Report of Assets and Liabilities of Large 
Foreign Offices of U.S. Banks (FR 2502q; OMB No. 7100-0079).

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

ADDRESSES: You may submit comments, identified by FR 2502q, 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

[[Page 7726]]

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 should modify the proposal prior to giving final approval.
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following report:
    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.
    Respondents: U.S. commercial banks, bank holding companies, 
including financial holding companies, and banking Edge and agreement 
corporations (U.S. banks) for their large branches and banking 
subsidiaries that are located in the United Kingdom or the Caribbean.
    Estimated number of respondents: 27.
    Estimated average hours per response: 1.
    Estimated annual burden hours: 108.
    General description of report: The FR 2502q collects, for each 
reporting office, claims on and liabilities to residents of the United 
States and of all countries as of each quarter-end. Additional details 
are collected about positions vis-[agrave]-vis U.S. residents. 
Positions vis-[agrave]-vis other non-U.S. offices of the parent bank 
and positions arising from derivatives contracts are also broken out. 
The data are used in constructing a piece of the Financial Accounts of 
the United States that are compiled by the Board and in preparing the 
U.S. International Transactions Accounts and the International 
Investment Position that are compiled by the Bureau for Economic 
Analysis (BEA), an agency of the Department of Commerce.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information in the 2502q from (1) bank holding companies 
pursuant to section 5 of the Bank Holding Company Act (12 U.S.C. 
1844(c)), which authorizes the Board to require a bank holding company 
and any subsidiary to submit reports, (2) Edge and agreement 
corporations pursuant to sections 25(7) and 25A(17) of the Federal 
Reserve Act (``FRA'') (12 U.S.C. 604a and 625), which authorize the 
Board to require Edge and agreement corporations to make reports to the 
Board, and (3) depository institutions pursuant to section 11(a)(2) of 
the FRA (12 U.S.C. 248(a)(2)), which 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. 
The FR 2502q report is mandatory. The information from this collection 
would not be accorded confidential treatment because release of the 
information is not likely to result in substantial harm to the 
competitive position of the respondents. If confidential treatment is 
requested by a respondent, the Board will review the request to 
determine if confidential treatment is appropriate.

    Board of Governors of the Federal Reserve System, February 15, 
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-03549 Filed 2-21-18; 8:45 am]
BILLING CODE 6210-01-P