[Federal Register Volume 85, Number 171 (Wednesday, September 2, 2020)]
[Notices]
[Pages 54577-54578]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19335]


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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: Report of Transaction Accounts, Other 
Deposits, and Vault Cash; Annual Report of Deposits and Reservable 
Liabilities; Report of Foreign (Non-U.S.) Currency Deposits; and 
Allocation of Low Reserve Tranche and Reservable Liabilities Exemption 
(FR 2900, FR 2910a, FR 2915, FR 2930; OMB No. 7100-0087).

DATES: Comments must be submitted on or before November 2, 2020.

ADDRESSES: You may submit comments, identified by FR 2900; FR 2910a; FR 
2915; and FR 2930, by any of the following methods:
     Agency website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the 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 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any identifying or 
contact information. Public comments may also be viewed electronically 
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006, 
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the 
Board requires that visitors make an appointment to inspect comments. 
You may do so by calling (202) 452-3684. Upon arrival, visitors will be 
required to present valid government-issued photo identification and to 
submit to security screening in order to inspect and photocopy 
comments.
    Additionally, commenters may send a copy of their comments to the 
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.

FOR FURTHER INFORMATION CONTACT: A copy of the Paperwork Reduction Act 
(PRA) OMB submission, including the reporting form and instructions, 
supporting statement, and other documentation will be placed into OMB's 
public docket files, if approved. These documents will also be made 
available on the Board's public website at https://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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information conducted or sponsored by the Board. In 
exercising this delegated authority, the Board is directed to take 
every reasonable step to

[[Page 54578]]

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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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 Board 
should modify the proposal.

Proposal under OMB Delegated Authority to Extend for Three Years, With 
Revision, the Following Information Collection

    Report title: Reports of Deposits: Report of Transaction Accounts, 
Other Deposits, and Vault Cash; Annual Report of Deposits and 
Reservable Liabilities; Report of Foreign (Non-U.S.) Currency Deposits; 
and Allocation of Low Reserve Tranche and Reservable Liabilities 
Exemption.
    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): 1,000; FR 2900 
(Quarterly): 0; FR 2910a: 0; FR 2915: 116; and FR 2930: 0.
    Estimated average hours per response: FR 2900 (Weekly): 1.0; FR 
2900 (Quarterly): 0; FR 2910a: 0; FR 2915: 0.5; and FR 2930: 0.
    Estimated annual burden hours: FR 2900 (Weekly): 52,000; FR 2900 
(Quarterly): 0; FR 2910a: 0; FR 2915: 232; and FR 2930: 0.
    General description of report: Data from these mandatory reports 
are used by the Board for administering reserve requirements and for 
constructing, analyzing, and monitoring the monetary aggregates. The FR 
2900 is the primary source of data for the construction and analysis of 
the monetary aggregates and was used for the calculation of required 
reserves and applied vault cash. The FR 2910a report has been a key 
data source for determining which depository institutions need to file 
the FR 2900. FR 2900 respondents that offer deposits denominated in 
foreign currencies at their U.S. offices file the FR 2915. 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 used in the calculation of reserve requirements; 
typically, depository institutions file this report after being 
informed of updates to key reserve requirement thresholds toward the 
end of each calendar year or upon the establishment of an office 
outside the home state or Federal Reserve District.
    Proposed revisions: The Board proposes to take steps to reduce 
reporting burden associated with reserve requirements by discontinuing 
the collection of the FR 2910a and FR 2930, ceasing the quarterly 
collection of the FR 2900, and refocusing items on the weekly 
collection of the FR 2900 and the FR 2915 to those that support the 
construction and analysis of the monetary aggregates.
    Legal authorization and confidentiality: The FR 2900 report and the 
FR 2915 report are authorized to be collected from depository 
institutions (commercial banks, credit unions, and savings and loan 
associations) pursuant to section 11(a)(2) of the Federal Reserve Act 
(FRA); from agreement corporations pursuant to section 25(5) and (7) of 
the FRA and section 604a of the FRA; from banking Edge corporations 
pursuant to section 25A(17) of the FRA; and from branches and agencies 
of foreign banks pursuant to section 7 of the International Banking 
Act. The FR 2900 and FR 2915 are mandatory.
    The data collected under the FR 2900 is considered confidential 
commercial and financial information, and respondents are assured that 
the data being collected will be treated as confidential by the Federal 
Reserve (except that aggregate data, which does not identify any 
individual institution, may be disclosed). Accordingly, the data 
collected on these reports is considered confidential pursuant to 
exemption 4 of the Freedom of Information Act, which protects 
confidential commercial or financial information from public 
disclosure.

    Board of Governors of the Federal Reserve System, August 27, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-19335 Filed 9-1-20; 8:45 am]
BILLING CODE 6210-01-P