[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22489-22490]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10264]


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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: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
Reports of Deposits (FR 2900; OMB No. 7100-0087). The revisions are 
applicable as of September 2018.

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 
or by fax to (202) 395-6974.

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. 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.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years With Revision, of the Following Reports

    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.
    Effective Date: June 14, 2018.
    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 (1) indexing the 
exemption amount and low reserve tranche amount each year, as required 
by statute, and (2) indexing the nonexempt deposit cutoff and reduced 
reporting limit each year, as determined by the Board. The amounts of 
the deposit cutoff and reporting limit 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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    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

[[Page 22490]]

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)).
    Current actions: On February 21, 2018, the Federal Reserve 
published a notice in the Federal Register (83 FR 7474) requesting 
public comment for 60 days on the extension, with revision, of the 
Reports of Deposits (FR 2900; OMB No. 7100-0087). 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. The comment 
period for this notice expired on April 23, 2018. The Federal Reserve 
did not receive any comments. The revisions will be implemented as 
proposed.

    Board of Governors of the Federal Reserve System, May 9, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10264 Filed 5-14-18; 8:45 am]
 BILLING CODE 6210-01-P