60244 Federal Register / Vol. 62, No. 216 / Friday, November 7, 1997 / Notices

considerably—from its current twelve

channels trunked in three-channel

groups at thirteen sites, to

approximately thirty sites with ‘‘a small

number’’ of additional channels. Amoco

estimates that this system will serve as

many as 200 ‘‘participants,’’ employing

approximately 8,000 portable units.

3. This system will also incorporate

the 6 GHz point-to-point microwave

network that SOSCO currently operates

in the Gulf of Mexico as a common

carrier pursuant to § 101.701 of the

Commission’s Rules. Under the plan

outlined in the Request, SOSCO is to be

the principal point-to-point bandwidth

provider to transport the 900 MHz

traffic between sites in the Gulf to

interconnection points with on-shore

common carriers. Additionally, Amoco

proposes to have SOSCO provide local

exchange and long distance service to

the ‘‘participants’’ in the 900 MHz

system at a profit.

4. Interested parties may file

comments on Amoco’s Request no later

than December 10, 1997. Parties

interested in submitting reply comments

must do so no later than December 24,

1997. All comments should reference

Amoco’s Request and the File No. DA

97–2300, and should be filed with the

Office of Secretary, Federal

Communications Commission, 1919 M

Street, N.W., Room 222, Washington,

DC 20554. A copy of each filing should

be sent to International Transcription

Service, Inc. (ITS), 1231 20th Street,

N.W.,Washington, DC 20036, (202) 857–

3800 and to James Moskowitz, Federal

Communications Commission, Wireless

Telecommunications Bureau, Public

Safety and Private Wireless Division,

2025 M Street, N.W., Room 8010,

Washington, D.C. 20554.

5. The full text of the petition,

comments, and reply comments may be

obtained from International

Transcription Service, Inc. (ITS), 1231

20th Street, N.W., Washington, DC

20036, (202) 857–3800.

Federal Communications Commission.

David E. Horowitz,

Division Chief, Public Safety & Private

Wireless Division.

[FR Doc. 97–29403 Filed 11–6–97; 8:45 am]

BILLING CODE 6712–01–P

FEDERAL ELECTION COMMISSION

Sunshine Act Meeting

FEDERAL REGISTER NUMBER: 97–28967.

PREVIOUSLY ANNOUNCED DATE AND TIME:

Wednesday, November 5, 1997, 10:00

a.m., Meeting open to the public. The

Public Hearing on Recordkeeping and

Reporting Notice of Proposed

Rulemaking has been CANCELLED.

DATE AND TIME: Wednesday, November

12, 1997 at 10:00 a.m.

PLACE: 999 E Street, NW., Washington,

DC.

STATUS: This meeting will be closed to

the public.

ITEMS TO BE DISCUSSED:

Compliance matters pursuant to 2

U.S.C. § 437g.

Audits conducted pursuant to 2 U.S.C.

§ 437g, § 438(b), and Title 26, U.S.C.

Matters concerning participation in civil

actions or proceedings or arbitration.

Internal personnel rules and procedures

or matters affecting a particular

employee.

DATE AND TIME: Thursday, November 13,

1997 at 10:00 a.m.

PLACE: 999 E Street, NW., Washington,

DC (ninth floor).

STATUS: This meeting will be open to the

public.

ITEMS TO BE DISCUSSED:

Correction and Approval of Minutes.

Advisory Opinion 1997–22: Business

Council of Alabama by William F.

O’Connor, Jr., President.

Briefing: Status of Systems Development

Project.

Administrative Matters.

PERSON TO CONTACT FOR INFORMATION:

Mr. Ron Harris, Press Officer,

Telephone: (202) 219–4155.

Marjorie W. Emmons,

Secretary of the Commission.

[FR Doc. 97–29662 Filed 11–5–97; 3:06 pm]

BILLING CODE 6715–01–M

FEDERAL RESERVE SYSTEM

Agency Information Collection

Activities: Proposed Collection;

Comment Request

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Notice.

Background:

On June 15, 1984, the Office of

Management and Budget (OMB)

delegated to the Board of Governors of

the Federal Reserve System (Board) its

approval authority under the Paperwork

Reduction Act, as per 5 CFR 1320.16, to

approve of and assign OMB control

numbers to collection of information

requests and requirements conducted or

sponsored by the Board under

conditions set forth in 5 CFR 1320

Appendix A.1. 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. Board-approved collections of

information will be incorporated into

the official OMB inventory of currently

approved collections of information.

Copies of the OMB 83-Is, supporting

statements, and the approved collection

of information instruments will be

placed into OMB’s public docket files.

The following information collections,

which are being handled under this

delegated authority, have received

initial Board approval and are hereby

published for comment. At the end of

the comment period, the proposed

information collections, along with an

analysis of comments and

recommendations received, will be

submitted to the Board for final

approval under OMB delegated

authority. Comments are invited on the

following:

a. whether the proposed collections of

information are necessary for the proper

performance of the Federal Reserve’s

functions; including whether the

information has practical utility;

b. the accuracy of the Federal

Reserve’s estimates 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; and 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.

DATES: Comments must be submitted on

or before January 6, 1998.

ADDRESSES: Comments, which should

refer to the OMB control number or

agency form number, should be

addressed to William W. Wiles,

Secretary, Board of Governors of the

Federal Reserve System, 20th and C

Streets, N.W., Washington, DC 20551, or

delivered to the Board’s mail room

between 8:45 a.m. and 5:15 p.m., and to

the security control room outside of

those hours. Both the mail room and the

security control room are accessible

from the courtyard entrance on 20th

Street between Constitution Avenue and

C Street, N.W. Comments received may

be inspected in room M-P-500 between

9:00 a.m. and 5:00 p.m., except as

provided in section 261.8 of the Board’s

Rules Regarding Availability of

Information, 12 CFR 261.8(a).

A copy of the comments may also be

submitted to the OMB desk officer for

the Board: Alexander T. Hunt, Office of

Information and Regulatory Affairs,
Federal Register / Vol. 62, No. 216 / Friday, November 7, 1997 / Notices 60245

Office of Management and Budget, New

Executive Office Building, Room 3208,

Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: A

copy of the proposed form and

instructions, the Paperwork Reduction

Act Submission (OMB 83-I), supporting

statement, and other documents that

will be placed into OMB’s public docket

files once approved may be requested

from the agency clearance officer, whose

name appears below.

Mary M. McLaughlin, Chief, Financial

Reports Section (202-452-3829),

Division of Research and Statistics,

Board of Governors of the Federal

Reserve System, Washington, DC 20551.

Telecommunications Device for the Deaf

(TDD) users may contact Diane Jenkins

(202-452-3544), Board of Governors of

the Federal Reserve System,

Washington, DC 20551.

For further information on the

proposal concerning the FR Y-9C report,

contact Robert T. Maahs, Supervisory

Financial Analyst (202-872-4935).

Proposal to approve under OMB

delegated authority the extension for

three years, with revision, of the

following report:

1. Report title: Government Securities

Dealers Reports

Agency form number: FR 2004A, FR

2004B, FR 2004C, FR 2004SI, FR

2004WI

OMB control number: 7100-0003

Frequency: weekly and on occasion

Reporters: primary dealers in U.S.

government securities

Annual reporting hours: 11,817

Estimated average hours per response:

1.0 (FR 2004A, B, C, SI); 0.25 (FR

2004WI)

Number of respondents: 39

Small businesses are not affected.

General description of report: This

information collection is voluntary (12

U.S.C. 248(a)(2), 353-359, and 461) and

is given confidential treatment (5 U.S.C.

552(b)(4)).

Abstract:This group of reports is used

to collect data on positions,

transactions, and financing activity in

the government securities market from

primary dealers in U.S. government

securities. The Federal Reserve uses the

data to monitor the condition of the U.S.

government securities market in its

surveillance of the market and to assist

the U.S. Department of the Treasury.

Three revisions are proposed for

implementation in January 1998. On the

FR 2004A and FR 2004B a line would

be added to report position and

transaction volumes with respect to

Treasury Inflation-Index Securities. On

the FR 2004A and FR 2004B four lines

would be added to provide greater detail

regarding the dealers’ federal agency

securities positions and transaction

volumes. On the FR 2004C, two

columns of matched-book financing

transactions would be deleted. The

revisions, on a net basis, would have no

effect on the current annual reporting

burden.

Proposal to approve under OMB

delegated authority the extension for

three years, without revision, of the

following reports:

1. Report title: Domestic Branch

Notification

Agency form number: FR 4001

OMB control number: 7100-0097

Frequency: On occasion

Reporters: State member banks

Annual reporting hours: 201

Estimated average hours per response:

30 minutes for expedited notifications;

1 hour for nonexpedited notifications

Number of respondents: 316 expedited,

43 nonexpedited

Small businesses are affected.

General description of report: This

information collection is mandatory (12

U.S.C. 321) and is not given confidential

treatment.

Abstract: The Federal Reserve System

requires a state member bank to file a

notification whenever it proposes to

establish a domestic branch. There is no

formal reporting form; banks notify the

Federal Reserve by letter prior to

making the proposed investment. The

Federal Reserve uses the information to

fulfill its statutory obligation to obtain

public comment on such proposals

before acting on them, and to otherwise

supervise state member banks.

2. Report title: Investment in Bank

Premises Notification

Agency form number: FR 4014

OMB control number: 7100-0139

Frequency: On occasion

Reporters: State member banks

Annual reporting hours: 8

Estimated average hours per response:

30 minutes

Number of respondents: 15

Small businesses are affected.

General description of report: This

information collection is mandatory (12

U.S.C. 371d) and is not given

confidential treatment.

Abstract: The Federal Reserve System

requires a state member bank to file a

notification whenever it proposes to

make an investment in bank premises

that results in its total bank premises

investment exceeding its capital stock

and surplus or, if the bank is well

capitalized and in good condition,

exceeding 150 percent of its capital

stock and surplus. There is no formal

reporting form; banks notify the Federal

Reserve by letter prior to making the

proposed investment. The Federal

Reserve uses the information to fulfill

its statutory obligation to supervise state

member banks.

3. Report title: Reports Related to

Securities of State Member Banks as

Required by Regulation H

Agency form number: N/A

OMB control number: 7100-0091

Frequency: On occasion

Reporters: State member banks

Annual reporting hours: 2,146

Estimated average hours per response:

5.11 hours

Number of respondents: 30

Small businesses are not affected.

General description of report: This

information collection is mandatory (15

U.S.C. section 78l(i)) and is not given

confidential treatment.

Abstract: The Federal Reserve’s

Regulation H requires certain state

member banks to submit information

related to their securities to the Board of

Governors of the Federal Reserve

System on the same forms that bank

holding companies and nonbank

entities use to submit similar

information to the Securities and

Exchange Commission. The information

is used primarily for public disclosure

and is available to the public upon

request.

Proposal to approve under OMB

delegated authority the elimination of

certain requested information, without

extension, from the following reports:

1. Report title: Weekly Report of

Assets and Liabilities for Large Banks

Agency form number: FR 2416

OMB control number: 7100-0075

Frequency: weekly

Reporters: U.S. commercial banks

Annual reporting hours: The proposal is

estimated to reduce the annual reporting

burden from 46,592 hours to 44,928

hours.

Estimated average hours per response:

The proposal is estimated to reduce the

burden per response from 7 hours to

6.75 hours.

Number of respondents: 128

Small businesses are not affected.

General description of report: This

information collection is voluntary (12

U.S.C. §§ 225(a) and 248(a)(2)) and is

given confidential treatment (5 U.S.C. §

552(b)(4) and (8)).

Abstract: The Board proposes to

eliminate two items from the FR 2416,

the large domestic bank series of the

three voluntary weekly condition/bank

credit reports. The FR 2416 is a detailed

balance sheet report that is collected as

of each Wednesday from a sample of

about 128 large U.S.-chartered

commercial banks. All three reports,

together with data from other sources,

are used to construct weekly estimates

of bank credit, sources and uses of bank

funds, and a balance sheet for the
60246 Federal Register / Vol. 62, No. 216 / Friday, November 7, 1997 / Notices

1 62 FR 45295 (1997).

banking system as a whole. These

estimates also are used in constructing

the bank credit component of the

domestic non-financial debt aggregate

monitored by the Federal Open Market

Committee.

The Board proposes to eliminate two

items, ‘‘Commercial paper outstanding

issued by related institutions of the

reporting bank, issued through

commercial paper brokers and dealers’’

(Memorandum item 7.a) and

‘‘Commercial paper outstanding issued

by related institutions of the reporting

bank, issued directly’’ (Memorandum

item 7.b). The information collected in

these two items is now obtained by the

Federal Reserve from another source,

eliminating the need to maintain them

on the FR 2416. The revisions would be

effective with data as-of January 7, 1998.

2. Report title: Consolidated Financial

Statements for Bank Holding Companies

Agency form number: FR Y-9C

OMB control number: 7100-0128

Frequency: Quarterly

Reporters: Bank holding companies

Annual reporting hours: 196,462

Estimated average hours per response:

Ranges from 5 to 1,250 hours

Number of respondents: 1,457

Small businesses are affected.

General Information: Under the Bank

Holding Company Act of 1956, as

amended, the Board is responsible for

the supervision and regulation of all

bank holding companies. The FR Y-9

series of reports has historically been,

and continues to be, the primary source

of financial information on bank

holding company activities between onsite inspections. Financial information,

as well as ratios developed from these

reports, are used to detect emerging

financial problems, to review

performance for pre-inspection analysis,

to evaluate bank holding company

mergers and acquisitions, and to analyze

holding companies overall financial

condition and performance as part of

the Federal Reserve System’s overall

supervisory responsibilities.

General description of report: The

information collection is mandatory 12

U.S.C. 1844(b) and (c) and 12 CFR

225.5(b). Confidential treatment is not

routinely given to the data in these

reports. However, confidential treatment

for the reporting information, in whole

or in part, can be requested in

accordance with the instructions to the

form.

Data reported on the FR Y-9C,

Schedule HC-H, Column A, requiring

information on ‘‘assets past due 30

through 89 days and still accruing’’ and

memoranda item 2 are confidential

pursuant to Section (b)(8) of the

Freedom of Information Act 5 U.S.C.

552(b)(8).

The FR Y-9C consolidated financial

statements are currently filed by top-tier

bank holding companies with total

consolidated assets of $150 million or

more and by lower-tier bank holding

companies that have total consolidated

assets of $1 billion or more. In addition,

all multibank bank holding companies

with debt outstanding to the general

public or engaged in certain nonbank

activities, regardless of size, must file

the FR Y-9C. The following bank

holding companies are exempt from

filing the FR Y-9C, unless the Board

specifically requires an exempt

company to file the report: bank holding

companies that are subsidiaries of

another bank holding company and

have total consolidated assets of less

than $1 billion; bank holding companies

that have been granted a hardship

exemption by the Board under section

4(d) of the Bank Holding Company Act;

and foreign banking organizations as

defined by section 211.23(b) of

Regulation K.

The report includes a balance sheet,

income statement, and statement of

changes in equity capital with

supporting schedules providing

information on securities, loans, riskbased capital, deposits, average

balances, off-balance sheet activities,

past due loans, and loan charge-offs and

recoveries.

On August 27, 1997, the Federal

Reserve announced in the Federal

Register1 modifications to the prudential

limits or firewalls that currently apply

to bank holding companies engaged in

securities underwriting and dealing

activities through section 20

subsidiaries. The modifications are

effective October 31, 1997.

The Federal Reserve announced that

as one of its modifications to the

firewalls, it was eliminating the

required capital deductions that related

to the section 20 subsidiary in

determining capital adequacy. The

Federal Reserve stated that ‘‘the capital

deductions (and resulting

deconsolidation for regulatory capital

purposes) are inconsistent with

generally accepted accounting

principles (GAAP) and have therefore

created confusion and imposed costs by

requiring bank holding companies to

prepare financial statements on two

bases.’’ Therefore, the Federal Reserve is

proposing to grant prompt reporting

relief to bank holding companies with

section 20 subsidiaries by eliminating

Schedule HC-J from the FR Y-9C

effective with the December 31, 1997,

reporting date.

The estimated time per response is an

average of all bank holding companies

filing this report. The response time for

a given bank holding company varies

depending on the size and the types of

activities in which they are engaged.

The time per response for a bank

holding company is estimated to range

from 5 to 1,250 hours, depending on

individual circumstances. Although the

proposed revisions will provide

significant reporting relief for the 26

bank holding companies with section 20

subsidiaries that must currently

complete Schedule HC-J, the effect on

the average burden of all FR Y-9C

respondents is only an estimated

reduction of 15 minutes per response.

Board of Governors of the Federal Reserve

System, November 3, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–29437 Filed 11–6–97; 8:45AM]

Billing Code 6210–01–F

FEDERAL RESERVE SYSTEM

Change in Bank Control Notices;

Acquisitions of Shares of Banks or

Bank Holding Companies

The notificants listed below have

applied under the Change in Bank

Control Act (12 U.S.C. 1817(j)) and §

225.41 of the Board’s Regulation Y (12

CFR 225.41) to acquire a bank or bank

holding company. The factors that are

considered in acting on the notices are

set forth in paragraph 7 of the Act (12

U.S.C. 1817(j)(7)).

The notices are available for

immediate inspection at the Federal

Reserve Bank indicated. The notices

also will be available for inspection at

the offices of the Board of Governors.

Interested persons may express their

views in writing to the Reserve Bank

indicated for that notice or to the offices

of the Board of Governors. Comments

must be received not later than

November 21, 1997.

A. Federal Reserve Bank of Chicago

(Philip Jackson, Applications Officer)

230 South LaSalle Street, Chicago,

Illinois 60690-1413:

1. Paul H. and Neva M. Johnson,

Algona, Iowa; to acquire voting shares of

Mid-Iowa Bancshares Company, Algona,

Iowa, and thereby indirectly acquire

Iowa State Bank, Algona, Iowa.

Board of Governors of the Federal Reserve

System, November 3, 1997.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 97–29406 Filed 11–6–97; 8:45 am]

BILLING CODE 6210–01–F