[Federal Register Volume 84, Number 84 (Wednesday, May 1, 2019)]
[Notices]
[Pages 18537-18538]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-08779]
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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
Central Bank Survey of Foreign Exchange and Derivatives Market Activity
(FR 3036; OMB No. 7100-0285).
DATES: The revisions are applicable for the April Turnover survey.
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.
Office of Management and Budget (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, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve 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 PRA submission, supporting statements and approved collection of
information instrument(s) are placed into OMB's public docket files.
The Board 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 Information Collection
Report title: Central Bank Survey of Foreign Exchange and
Derivatives Market Activity.
Agency form number: FR 3036.
[[Page 18538]]
OMB control number: 7100-0285.
Effective Date: April 2019.
Frequency: Triennially.
Respondents: Financial institutions that serve as intermediaries in
the wholesale foreign exchange and derivatives market.
Estimated number of respondents: 21.
Estimated average hours per response: 55.
Estimated annual burden hours: 1,155.
General description of report: The survey is a comprehensive source
of global information on the volume of foreign exchange and derivatives
trading and, as such, is useful to the Federal Reserve System and other
government agencies in understanding market developments and trends and
for conducting Federal Reserve and U.S. Treasury foreign exchange
operations. Survey data are also used by market participants to gain a
perspective on the market that is not available from data at the firm
level. Academics and the general public also use the survey's data for
research and analysis.
Legal authorization and confidentiality: The FR 3036 is authorized
pursuant to sections 2A and 12A of the Federal Reserve Act (FRA).
Section 2A of the FRA requires that the Board and the Federal Open
Market Committee (FOMC) maintain long-run growth of the monetary and
credit aggregates commensurate with the economy's long run potential to
increase production, so as to promote effectively the goals of maximum
employment, stable prices, and moderate long-term interest rates (12
U.S.C. 225a). Under section 12A of the FRA, the FOMC is required to
implement regulations relating to the open market operations conducted
by Federal Reserve Banks. Those transactions must be governed with a
view to accommodating commerce and business and with regard to their
bearing upon the general credit situation of the country (12 U.S.C.
263). The Board and the FOMC use the information obtained from the FR
3036 to help fulfill these obligations.
The FR 3036 is a voluntary survey. Because the release of this
information would cause substantial harm to the competitive position of
the entity from whom the information was obtained, the information
collected on the FR 3036 may be granted confidential treatment under
exemption (b)(4) of the Freedom of Information Act, 5 U.S.C. 552(b)(4),
which protects from disclosure ``trade secrets and commercial or
financial information obtained from a person and privileged or
confidential.''
Current actions: On February 7, 2019, the Board published a notice
in the Federal Register (84 FR 2506) requesting public comment for 60
days on the extension, with revision, of the Central Bank Survey of
Foreign Exchange and Derivatives Market Activity. The comment period
for this notice expired on April 8, 2019. The Board did not receive any
comments. The revisions will be implemented as proposed.
Board of Governors of the Federal Reserve System, April 25,
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-08779 Filed 4-30-19; 8:45 am]
BILLING CODE 6210-01-P