64846 Federal Register / Vol. 62, No. 236 / Tuesday, December 9, 1997 / Notices

General description of report: This

information collection would be

voluntary (12 U.S.C. 248(a)(2), 353-359,

and 3105(c)) and would be given

confidential treatment (5 U.S.C.

552(b)(4)).

Abstract: The proposed Central Bank

Survey of Foreign Exchange and

Derivatives Market Activity is part of an

ongoing triennial series. The data from

the survey would provide information

about the size and structure of the global

markets for foreign exchange and

financial derivatives transactions. The

Federal Reserve would be one of fortyfour central banks conducting surveys.

Aggregate results from each central

bank’s survey will be provided to the

Bank for International Settlements,

which will compile global market

statistics. The proposed survey would

be conducted in April and June of 1998

by the Federal Reserve Bank of New

York.

The proposed survey has two parts, a

turnover survey and a survey of

outstanding derivatives contracts. The

proposed changes from the 1995 survey

are intended to reduce the reporting

burden. The most significant revisions

are those made to the derivatives

outstandings part of the survey to align

it with the Semiannual Report of

Derivatives Activity (FR 2436) which is

discussed below.

2. Report title: Semiannual Report of

Derivatives Activity

Agency form number: FR 2436

OMB control number: 7100-0284

Frequency: semiannual

Reporters: large U.S. dealers of over-thecounter (OTC) derivatives

Annual reporting hours: 2,600

Estimated average hours per response:

100

Number of respondents: 13

Small businesses are not affected.

General description of report: This

information collection would be

voluntary (12 U.S.C. 248(a), 353-359,

and 461) and would be given

confidential treatment (5 U.S.C.

552(b)(4)).

Abstract: The FR 2436 is proposed to

collect derivatives market statistics from

a sample of thirteen large U.S. dealers

of OTC derivatives. The report would

collect information on notional amounts

and gross market values of the volumes

outstanding of broad categories of

foreign exchange, interest rate, equityand commodity-linked over-the-counter

derivatives instruments across a range of

underlying currencies, interest rates,

and equity markets.

This collection of information would

complement the ongoing triennial

Survey of Foreign Exchange and

Derivatives Market Activity (FR 3036)

and would be implemented

concurrently with the 1998 FR 3036.

The FR 2436 would collect similar data

on the outstanding volume of

derivatives, but not on derivatives

turnover. As with the FR 3036, the

Federal Reserve would conduct this

report in coordination with other central

banks and would forward the aggregated

data furnished by U.S. reporters to the

Bank for International Settlements,

which would publish global market

statistics that are aggregations of

national data.

Board of Governors of the Federal Reserve

System, December 3, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–32157 Filed 12–8–97; 8:45AM]

Billing Code 6210–01–F

FEDERAL RESERVE SYSTEM

Agency Information Collection

Activities: Submission to OMB Under

Delegated Authority

Background

Notice is hereby given of the final

approval of a proposed information

collection by the Board of Governors of

the Federal Reserve System (Board)

under OMB delegated authority, as per

5 CFR 1320.16 (OMB Regulations on

Controlling Paperwork Burdens on the

Public). 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.

FOR FURTHER INFORMATION CONTACT:

Chief, Financial Reports Section—Mary

M. McLaughlin—Division of Research

and Statistics, Board of Governors of

the Federal Reserve System,

Washington, DC 20551 (202-452-3829)

OMB Desk Officer—Alexander T.

Hunt—Office of Information and

Regulatory Affairs, Office of

Management and Budget, New

Executive Office Building, Room

3208, Washington, DC 20503 (202-

395-7860)

Final approval under OMB delegated

authority of the extension for three

years, without revision, of the following

report:

1. Report title: Recordkeeping

Requirements Associated with Real

Estate Appraisal Standards for Federally

Related Transactions Pursuant to

Regulations H and Y

Agency form number: none

OMB Control number: 7100-0250

Frequency: on occasion

Reporters: state member banks and bank

holding company (BHC) subsidiaries

Annual reporting hours: 61,220 (27,940

for state member banks and 33,280 for

BHC subsidiaries

Estimated average hours per response:

.25

Number of respondents: 2,040 (1,016

state member banks and 1,024 BHC

subsidiaries)

Small businesses are affected.

General description of report: This

recordkeeping is mandatory (U.S.C.

Sections 3310, 3331-3351). Since the

Federal Reserve does not collect this

information, confidentiality under the

Freedom of Information Act (FOIA) is

generally not at issue. The issue of the

confidentiality of the information,

however, might arise if the Federal

Reserve were to obtain a copy of the

appraisal during an examination or

inspection. In such a case, the

documents would be exempt (5 U.S.C.

552(b)(8)). The information also would

be exempt if disclosure would likely

cause substantial harm to the institution

from which it was obtained (5 U.S.C.

552(b)(4)).

Abstract: This information collection

is a recordkeeping requirement

contained in the Board’s Regulation H

(12 C.F.R. 208.18) and Regulation Y (12

C.F.R. 225.61) that implements Title XI

of the Financial Institutions Reform,

Recovery, and Enforcement Act of 1989.

The purpose of the statute is to provide

that federal financial and public policy

interests in real estate related

transactions will be protected by

requiring that real estate appraisals used

in connection with federally related

transactions are performed in writing, in

accordance with uniform standards, by

individuals whose competency has been

demonstrated and whose professional

conduct will be subject to effective

supervision.

The Federal Deposit Insurance

Corporation, the Office of the Controller

of the Currency, and the Office of Thrift

Supervision have parallel requirements

for the institutions they supervise.

Board of Governors of the Federal Reserve

System, December 3, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–32158 Filed 12–8–97; 8:45AM]

Billing Code 6210–01–F

GENERAL ACCOUNTING OFFICE

Federal Accounting Standards

Advisory Board

AGENCY: General Accounting Office.

ACTION: Notice of public hearing on

December 18.