Federal Register / Vol. 85, No. 246 / Tuesday, December 22, 2020 / Notices 83555 

NOTICE OF INTENT TO TERMINATE RECEIVERSHIPS—Continued 

Fund Receivership name City State 

Date of 

appointment 

of receiver 

10195 ..... The Park Avenue Bank ...................................................................................... New York ................... NY 03/12/2010 

10217 ..... Tamalpais Bank .................................................................................................. San Rafael ................. CA 04/16/2010 

10312 ..... Darby Bank and Trust Company ........................................................................ Vidalia ........................ GA 11/12/2010 

10525 ..... Proficio Bank ....................................................................................................... Cottonwood Heights .. UT 03/03/2017 

10533 ..... Resolute Bank .................................................................................................... Maumee ..................... OH 10/25/2019 

The liquidation of the assets for each 

receivership has been completed. To the 

extent permitted by available funds and 

in accordance with law, the Receiver 

will be making a final dividend 

payment to proven creditors. 

Based upon the foregoing, the 

Receiver has determined that the 

continued existence of the receiverships 

will serve no useful purpose. 

Consequently, notice is given that the 

receiverships shall be terminated, to be 

effective no sooner than thirty days after 

the date of this notice. If any person 

wishes to comment concerning the 

termination of any of the receiverships, 

such comment must be made in writing, 

identify the receivership to which the 

comment pertains, and be sent within 

thirty days of the date of this notice to: 

Federal Deposit Insurance Corporation, 

Division of Resolutions and 

Receiverships, Attention: Receivership 

Oversight Department 34.6, 1601 Bryan 

Street, Dallas, TX 75201. 

No comments concerning the 

termination of the above-mentioned 

receiverships will be considered which 

are not sent within this time frame. 

Authority: 12 U.S.C. 1819. 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on December 16, 

2020. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2020–28134 Filed 12–21–20; 8:45 am] 

BILLING CODE 6714–01–P 

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, FR 2915; OMB No. 

7100–0087). The revisions to the weekly 

collection of the FR 2900 are effective 

for the report as-of-date April 12, 2021. 

The revisions to the FR 2915 are 

applicable for the report as-of-date June 

21, 2021. The quarterly collection of the 

FR 2900 and the FR 2910a are 

discontinued as of January 1, 2021. The 

final quarterly submission of the FR 

2900 is for the as-of-date December 21, 

2020, while the last FR 2910a was 

submitted on June 30, 2020. The FR 

2930 is also being discontinued, 

effective January 31, 2021; the last filing 

of this report is for January 14, 2021. 

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. 

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 PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve 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 above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, With Revision, of the Following 

Information Collection 

Report title: Reports of Deposits. 

Agency form number: FR 2900 and FR 

2915. 

OMB control number: 7100–0087. 

Effective dates: FR 2900 (weekly): 

April 12, 2021; FR 2900 (quarterly): 

January 1, 2021; FR 2910a: January 1, 

2021; FR 2915: June 21, 2021; FR 2930: 

January 31, 2021. 

Frequency: Quarterly and weekly. 

Respondents: Depository institutions. 

Estimated number of respondents: FR 

2900: 1,000; FR 2915: 116. 

Estimated average hours per response: 

FR 2900: 1.0; FR 2915: 0.5. 

Estimated annual burden hours: FR 

2900: 52,000; FR 2915: 232. 

General description of report: Data 

from these mandatory reports are used 

by the Board to support the calculation 

and analysis of the U.S. monetary 

aggregates and to meet the Board’s 

obligations under Section 19(b) of the 

Federal Reserve Act to index key 

thresholds used in the calculation of 

reserve requirements. The FR 2900 is 

the primary source of data for the 

construction and analysis of the 

monetary aggregates and was used until 

recently for the calculation of reserve 

requirements. FR 2900 respondents that 

offer deposits denominated in foreign 

currencies at their U.S. offices file the 

FR 2915. Foreign currency deposits are 

not included in the monetary aggregates, 

and 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. 

Legal authorization and 

confidentiality: The FR 2900 and FR 

2915 reports 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 sections 25(5) and (7) 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 reports 

are mandatory. 

The data collected under the FR 2900 

and FR 2915 reports are considered 


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83556 Federal Register / Vol. 85, No. 246 / Tuesday, December 22, 2020 / Notices 

1Currently, nine bankers’ banks and eleven 

corporate credit unions submit FR 2900 reports 

weekly, and three bankers’ banks submit the FR 

2900 quarterly. The revisions to this information 

collection, as originally proposed, would likely 

affect four of these institutions and these 

institutions would be required to submit FR 2900 

reports weekly. 

2The last report as-of-date for bankers’ banks and 

CCUs that file the FR 2900 weekly is April 5, 2021; 

for FR 2900 quarterly filers, the last report as-ofdate is December 21, 2020. 

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. 

Current actions: On September 2, 

2020, the Board published a notice in 

the Federal Register (85 FR 54577) 

requesting public comment for 60 days 

on the extension, with revision, of the 

Report of Deposits. The notice proposed 

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 

quarterly collection of the FR 2915 to 

those that support the construction and 

analysis of the monetary aggregates. The 

comment period for this notice expired 

on November 2, 2020. The Board 

received five comments. 

Detailed Discussion of Public 

Comments 

Of the five comments, three were from 

depository institutions, one was from a 

trade association, and one was from a 

federal agency. The public comments 

sought clarification of the proposed 

changes, which the Board has addressed 

below and, in some cases, through 

amendments to the FR 2900 instructions 

described below. 

One depository institution asked for 

more information on the reporting 

requirements for U.S. branches and 

agencies of foreign banks. As noted in 

the proposal, the Board plans to 

maintain its current practice of 

requiring banking Edge and agreement 

corporations and U.S. branches and 

agencies of foreign banks to report 

weekly on the FR 2900, regardless of 

size, because the deposit flows of these 

institutions are large enough and 

different enough from those of other 

depository institutions that weekly 

reporting of data is needed to support 

the construction of monetary aggregates. 

Another depository institution 

requested clarification on the proposal’s 

treatment of the reporting of demand 

deposit items: A.1.a, demand deposits 

due to depository institutions; A.1.b, 

demand deposits due to the U.S. 

government; and A.1.c, demand 

deposits due to other. The Board will 

discontinue collecting items A.1.a and 

A.1.b, and will renumber and rename 

A.1.c to ‘‘A.1, Demand deposits due to 

the public (excluding demand deposits 

due to depository institutions and 

demand deposits due to the U.S. 

government).’’ 

The third depository institution 

requested clarification of the effective 

date of the proposed changes. The 

effective dates of the proposed changes 

vary by report form and are detailed 

above and in the Proposed Revisions 

section of the Supporting Statement for 

the Reports of Deposits that 

accompanied the Board’s request for 

public comment. 

The fourth comment letter was from 

a trade association. The commenter 

provided one suggestion and made four 

requests for clarification on the 

proposal. The commenter suggested the 

Board do more to align items reported 

on the FR 2900, FR Y–9C, and FR 2886b 

reports, as well as on the Call Reports, 

to reduce burden on reporters. In the 

development of the proposal, the Board 

evaluated the interaction of the 

proposed changes to the FR 2900 with 

other report forms. The Board did not 

find it appropriate, however, to 

continue to collect items on the FR 2900 

that are no longer needed for the Board’s 

purposes, even if discontinuing those 

items led to some lack of alignment with 

other report forms, such as the Call 

Report. The same commenter also asked 

the Board to amend the FR 2900 

instructions to include guidance on how 

to report retail sweep arrangements. The 

final version of the FR 2900 instructions 

includes such guidance. The commenter 

also requested that the Board specify 

whether personal or nonpersonal 

ineligible acceptances and obligations 

issued by affiliates and maturing in 

more than seven days should be 

included on the proposed annual item 

E.1 Reservable Liabilities. The 

instructions have been amended to 

specify that only the nonpersonal 

portion of ineligible acceptances and 

obligations issued by affiliates and 

maturing in more than seven days 

should be included. The commenter 

also sought confirmation on the 

treatment of savings deposits in 

Regulation CC (Availability of Funds 

and Collection of Checks, 12 CFR part 

229) as a result of the recent 

amendments to Regulation D. Because 

Regulation CC continues to exclude 

accounts described in 12 CFR 

204.2(d)(2) from the Regulation CC 

‘‘account’’ definition, the recent 

amendments to Regulation D did not 

result in savings deposits (accounts 

described in 12 CFR 204.2(d)(2)) being 

covered by Regulation CC. Lastly, the 

commenter requested that the Board 

clarify its expectations of reporters for 

explaining movements in data, which 

the commenter noted can be very 

burdensome. The Board continues to 

expect Federal Reserve System staff to 

work with reporters to explain 

movements in data and submit revisions 

if necessary to ensure data quality while 

remaining sensitive to minimizing such 

requests where feasible. 

The fifth and final comment was from 

a U.S. government agency. The agency 

raised concerns that the elimination of 

total transaction accounts, deductions 

from transaction accounts, and 

ineligible acceptances and obligations 

issued by affiliates and maturing in 

seven days from the FR 2900 would 

affect their data production. These 

concerns have been addressed. 

The Board has also considered the 

continued collection of FR 2900 reports 

from bankers’ banks and corporate 

credit unions (CCUs).1 Data reported on 

the FR 2900 by bankers’ banks and 

CCUs have historically been used to 

administer reserve requirements, but not 

for the construction of the monetary 

aggregates. The monetary aggregates 

measure money in the hands of the 

nonbank public in the United States. 

Deposits at bankers’ banks and CCUs 

represent funds of depository 

institutions and not nonbank depositors, 

and therefore data regarding these 

deposits have historically been 

excluded from construction of the 

monetary aggregates. As noted above, all 

reserve requirement ratios have been set 

to zero percent since March 2020. 

Because FR 2900 report data from 

bankers’ banks and CCUs will not be 

used for either administration of reserve 

requirements or construction of the 

monetary aggregates, the Board has 

determined to discontinue collecting FR 

2900 reports from these institutions.2

Board of Governors of the Federal Reserve 

System, December 17, 2020. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2020–28218 Filed 12–21–20; 8:45 am] 

BILLING CODE 6210–01–P 


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