[Federal Register Volume 65, Number 209 (Friday, October 27, 2000)]
[Notices]
[Pages 64443-64444]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-27604]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY:

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 part 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the OMB 83-Is and supporting 
statements and approved collection of information instruments are 
placed into OMB's public docket files. 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.

Request for Comment on Information Collection Proposals

    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 collection of information is 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 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; 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 December 26, 2000.

ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th and C 
Streets, NW., Washington, DC 20551, or mailed electronically to 
<a href="/cdn-cgi/l/email-protection#4e3c2b293d602d2123232b203a3d0e282b2a2b3c2f223c2b3d2b3c382b60292138"><span class="__cf_email__" data-cfemail="4f3d2a283c612c2022222a213b3c0f292a2b2a3d2e233d2a3c2a3d392a61282039">[email protected]</span></a>. Comments addressed to Ms. Johnson 
also may be 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, NW. 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 261.14 of the 
Board's Rules Regarding Availability of Information, 12 CFR 261.14(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, 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. West, 
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.
    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: 156 hours.
    Estimated average hours per response: 30 minutes for expedited 
notifications; 1 hour for nonexpedited notifications.
    Number of respondents: 169 expedited; 71 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 
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: 3 hours.
    Estimated average hours per response: 30 minutes.
    Number of respondents: 5.
    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 fifteen days 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: The Daily Report of Dealer Activity in Treasury 
Financing.
    Agency form number: FR 2004WI.
    OMB control number: 7100-0003.
    Frequency: Daily.
    Reporters: Primary dealers in the U.S. government securities 
market.
    Annual reporting hours: 4,640 hours.
    Estimated average hours per response: 1 hour.
    Number of respondents: 29 dealers.

[[Page 64444]]

    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248 (a)(2), 353-359, and 461(c)). Completing the 
FR 2004 reports by nondepository institutions is not a mandatory 
obligation, and it may be deemed to be voluntary; however, it is 
required to be completed by those nondepository institution dealers who 
desire to be primary dealers. Individual respondent data are regarded 
as confidential under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: The FR 2004WI collects daily information on a next-
business-day basis on positions in to-be-issued Treasury coupon 
securities, mainly the trading on a when-issued delivery basis.
    4. Report title: Semiannual Report of Derivatives Activity.
    Agency form number: FR 2436.
    OMB control number: 7100-0286.
    Frequency: Semiannual.
    Reporters: large U.S. dealers of over-the-counter (OTC) 
derivatives.
    Annual reporting hours: 1,800 hours.
    Estimated average hours per response: 100.
    Number of respondents: 9.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248 (a), 353-359, and 461) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2436 collects derivatives market statistics from a 
sample of nine large U.S. dealers of over-the-counter (OTC) 
derivatives. Data are collected on notional amounts and gross market 
values of the volumes of broad categories of foreign exchange, interest 
rate, equity- and commodity-linked OTC derivatives instruments across a 
range of underlying currencies, interest rates, and equity markets.
    This collection of information complements the ongoing triennial 
Survey of Foreign Exchange and Derivatives Market Activity (FR 3036). 
The FR 2436 collects similar data on the outstanding volume of 
derivatives, but not on derivatives turnover. As with the FR 3036, the 
Federal Reserve conducts this report in coordination with other central 
banks and forwards the aggregated data furnished by U.S. reporters to 
the Bank of International Settlements (BIS), which publishes global 
market statistics that are aggregations of national data.
    5. Report title: Reports Related to Securities Issued by State 
Member Banks as Required by Regulation H.
    Agency form number: Reg H-1.
    OMB control number: 7100-0091.
    Frequency: On occasion.
    Reporters: State member banks.
    Annual reporting hours: 2,085 hours.
    Estimated average hours per response: 5.11.
    Number of respondents: 24.
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (15 U.S.C. 781(i)) and is not given confidential treatment.
    Abstract: The Federal Reserve's Regulation H requires certain state 
member banks to submit information relating 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 (SEC). The 
information is primarily used for public disclosure and is available to 
the public upon request.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision of the following reports:
    1. Report title: The Government Securities Dealers Reports: The 
Weekly Report of Dealer Positions (FR 2004A), The Weekly Report of 
Cumulative Dealer Transactions (FR 2004B), The Weekly Report of Dealer 
Financing and Fails (FR 2004C), and The Weekly Report of Specific 
Issues (FR 2004SI).
    Agency form number: FR 2004.
    OMB control number: 7100-0003.
    Frequency: Weekly.
    Reporters: Primary dealers in the U.S. government securities 
market.
    Annual reporting hours: 14,239 hours.
    Estimated average hours per response: FR 2004A, 1.5 hours; FR 
2004B, 2 hours; FR 2004 C 1.5 hours; FR 2004SI, 3 hours.
    Number of respondents: 29 dealers.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248 (a)(2), 353-359, and 461(c)). Completing the 
FR 2004 reports by nondepository institutions is not a mandatory 
obligation, and it may be deemed to be voluntary; however, it is 
required to be completed by those nondepository institution dealers who 
desire to be primary dealers. Individual respondent data are regarded 
as confidential under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: The FR 2004A collects data as of Wednesday of each week 
on dealers' outright positions in Treasury and other marketable debt 
securities as well as their positions in futures and options on 
underlying marketable debt securities. The FR 2004B collects data 
cumulated for the week ended Wednesday on the volume of transactions 
made by dealers in the same instruments for which positions are 
reported on the FR 2004A. The FR 2004C collects data as of Wednesday of 
each week on the amounts of dealer financing and fails. The FR 2004SI 
collects data as of Wednesday of each week on outright, financing, 
options, and fails positions in current or on-the-run issues. Under 
certain circumstances FR 2004SI data can also be collected on a daily 
basis for on-the-run and off-the-run securities.
    Current actions: The staff proposes several revisions to the 
reports to address changes in the market conditions. Futures and 
options data are being deleted from the FR 2004A, B, and SI because few 
dealers report much activity in this area and these data have proved to 
be of limited use in market surveillance. Items are being added to the 
FR 2004A and B to gain a better picture of the corporate securities 
markets. Items are being consolidated on the FR 2004C because the 
transactions categories currently reported have not provided 
significant insight into the functioning of funding markets and, 
therefore, add reporting burden without adequate benefit. The revised 
reporting forms would be implemented as of July 4, 2001, and would 
impose 22 percent less burden on respondents.

    Board of Governors of the Federal Reserve System, October 23, 
2000.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 00-27604 Filed 10-26-00; 8:45 am]
BILLING CODE 6210-01-P


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