59112 Federal Register / Vol. 71, No. 194 / Friday, October 6, 2006 / Notices 

1Abbreviated Financial Statements of Foreign 

Subsidiaries of U.S. Banking Organizations (FR 

2314S; OMB No. 7100–0073), filed for subsidiaries 

with assets between $50 million and $250 million. 

the FFIEC 030 have been approved by 

the FFIEC as originally proposed and 

are summarized below. The agencies 

will implement the changes as of the 

December 31, 2006, reporting date. 

Listing of Revisions 

A. Revisions to the FFIEC 030 

The agencies will reduce reporting 

burden by eliminating five reporting 

items for branches with total assets in 

excess of $250 million because the 

aggregate amounts reported in these 

items have declined substantially to a 

nominal amount. The five items being 

eliminated are: 

• Asset item 6.d, ‘‘Loans to foreign 

governments and official institutions.’’

Amounts will be included in current 

item 6.e, ‘‘Loans and lease financing 

receivables: To all others.’’

• Asset item 7, ‘‘Customers’’ liability 

to this bank on acceptances 

outstanding.’’ Amounts will be included 

in current item 13, ‘‘Other assets.’’

• Asset item 9, ‘‘Accrued interest 

receivable.’’ Amounts will be included 

in current item 13, ‘‘Other assets.’’

• Liability item 19, ‘‘Bank’s liability 

on acceptances executed and 

outstanding.’’ Amounts will be included 

in current item 24, ‘‘Other liabilities.’’

• Liability item 20, ‘‘Accrued taxes 

and other expenses.’’ Amounts will be 

included in current item 24, ‘‘Other 

liabilities.’’

B. Implementation of the FFIEC 030S 

The agencies are creating an 

abbreviated or ‘‘short’’ report (FFIEC 

030S) containing five items that 

branches with total assets between $50 

million and $250 million will file on an 

annual basis in lieu of the FFIEC 030 

form. The scope of the FFIEC 030S is 

comparable to a report filed with the 

Federal Reserve by U.S. banking 

organizations for their foreign 

subsidiaries.1 The items for this report 

are considered the minimum 

information needed to serve as 

indicators of higher business volume, 

risk, and complexity in small-sized 

foreign branches. The reported 

information will also be used to monitor 

potential developments that may pose 

risks to the overall operations of the 

parent bank. The items for the FFIEC 

030S are: 

• Gross due from related institutions 

(a combination of current FFIEC 030 

asset items 11 and 12) 

• Total assets (current FFIEC 030 

asset item 14) 

• Gross due to related institutions (a 

combination of current FFIEC 030 

liability items 22 and 23) 

• Total gross notional amount of 

derivative contracts (a combination of 

current FFIEC 030 derivative items 26, 

27, 28, and 31) 

• Commercial and similar letters of 

credit, standby letters of credit, and 

foreign office guarantees (a combination 

of current FFIEC 030 off-balance sheet 

items 29 and 30) 

C. Exempt Entities 

The agencies will exempt foreign 

branches with total assets below $50 

million from both the FFIEC 030 and 

FFIEC 030S annual filing requirements. 

Request for Comment 

Comments are invited on: 

a. Whether the information 

collections are necessary for the 

agencies’ duties and responsibilities, 

including whether the information has 

practical utility; 

b. The accuracy of the agencies’

estimates of the burden of the 

information collections, 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 the 

information collections on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

e. Estimates of capital or start up costs 

and costs of operation, maintenance, 

and purchase of services to provide the 

requested information. 

Comments submitted in response to 

this notice will be shared among the 

agencies. All comments will become a 

matter of public record. Written 

comments should address the accuracy 

of the burden estimates and ways to 

minimize burden, including the use of 

automated collection techniques or the 

use of other forms of information 

technology, as well as other relevant 

aspects of the information collection 

request. 

Dated: September 29, 2006. 

Stuart Feldstein, 

Assistant Director, Legislative and Regulatory 

Activities Division. 

Board of Governors of the Federal Reserve 

System, October 2, 2006. 

Jennifer J. Johnson, 

Secretary of the Board. 

Dated at Washington, DC, this 27th day of 

September, 2006. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 06–8529 Filed 10–5–06; 8:45 am] 

BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Sunshine Act Meeting; Notice of 

Agency Meeting 

Pursuant to the provisions of the 

‘‘Government in the Sunshine Act’’ (5 

U.S.C. 552b), notice is hereby given that 

the Federal Deposit Insurance 

Corporation’s Board of Directors will 

meet in open session at 10 a.m. on 

Tuesday, October 10, 2006, to consider 

the following matters: 

SUMMARY AGENDA: No substantive 

discussion of the following items is 

anticipated. These matters will be 

resolved with a single vote unless a 

member of the Board of Directors 

requests that an item be moved to the 

discussion agenda. 

Disposition of minutes of previous 

Board of Directors’ meetings. 

Summary reports, status reports, and 

reports of actions taken pursuant to 

authority delegated by the Board of 

Directors. 

DISCUSSION AGENDA: 

Memorandum and resolution re: Final 

Rule to Implement the One-Time 

Assessment Credit. 

Memorandum and resolution re: Final 

Rule to Implement Assessment 

Dividend Requirements. 

The meeting will be held in the Board 

Room on the sixth floor of the FDIC 

Building located at 550-17th Street, 

NW., Washington, DC. 

The FDIC will provide attendees with 

auxiliary aids (e.g., sign language 

interpretation) required for this meeting. 

Those attendees needing such assistance 

should call (703) 562–6067 (Voice or 

TTY), to make necessary arrangements. 

Requests for further information 

concerning the meeting may be directed 

to Mr. Robert E. Feldman, Executive 

Secretary of the Corporation, at (202) 

898–7122. 

Dated: October 3, 2006. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 06–8544 Filed 10–3–06; 4:19 pm] 

BILLING CODE 6714–01–M 


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