[Federal Register Volume 62, Number 51 (Monday, March 17, 1997)]
[Notices]
[Pages 12646-12647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-6578]


-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM

Agency information collection activities: Submission to OMB under 
delegated authority

BACKGROUND

    Notice is hereby given of the final approval of proposed 
information collections 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, with revision, of the following reports:

[[Page 12647]]

    1. Report title: Application for Employment with the Board of 
Governors of the Federal Reserve System (``Application'')
Agency form number: FR 28
OMB Control number: 7100-0181
Frequency: on occasion
Reporters: applicants for employment with the Board
Annual reporting hours: 8,500
Estimated average hours per response: 1.0
Number of respondents: 8,500
Small businesses are not affected.
    General description of report: This information collection is 
required to obtain or retain a benefit (12 U.S.C. 244 and 248(1)) and 
is given confidential treatment under the Privacy Act (5 U.S.C. 552(a)) 
and the Freedom of Information Act (5 U.S.C. 552(b)(2) and (b)(6)).
    Abstract: The purpose of the Application is to collect information 
to determine the qualifications, suitability, and availability of 
applicants for employment with the Board. The Application asks about 
education, training, employment, and other information covering the 
period since the applicant left high school.
    Several items were substantively revised. No items were deleted. 
The Board revised the text of the Application to comply with current 
law, to reflect changes in societal language preferences, and to 
reflect changes in the Board's Rules Regarding Equal Opportunity.
    2. Report title: Weekly Report of Eurodollar Liabilities Held by 
Selected U.S. Addressees at Foreign Offices of U.S. Banks
Agency form number: FR 2050
OMB control number: 7100-0068
Frequency: Weekly
Reporters: Large foreign branches and banking subsidiaries of U.S. 
banks
Annual reporting hours: 2,860
Estimated average hours per response: 1.0
Number of respondents: 54 branches, 1 subsidiary
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a)(2), 353 et seq., 461, 602, and 625) and is 
given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: This report collects data on overnight and term 
Eurodollars held by certain U.S. residents in selected foreign branches 
and subsidiaries of U.S. commercial banks and Edge and agreement 
corporations. The data are used for the construction of the Eurodollar 
component of the monetary aggregates and for analysis of banks' 
liability management practices.
    The revised reporting threshold has been raised from a weekly 
average of $200 million to $350 million in Eurodollar liabilities. 
Additions and deletions to the reporting panel will be made only 
annually. The number of data items collected has been reduced from 4 to 
2. As a result of the redefinition of the M2 monetary aggregate in 
February 1996, the overnight Eurodollar component of M2 was moved to 
the non-M2 component of M3, where the term component currently is 
included. Since the separation of the two nonnegotiable Eurodolllar 
items (overnight and term) is no longer necessary, they have been 
combined into a single item, and the memorandum item has been dropped 
from the report.
    The revised report will be implemented as of the reporting week 
ending Monday, March 31, 1997.
    3. Report title: Quarterly Report of Assets and Liabilities of 
Large Foreign Offices of U.S. Banks
Agency form number: FR 2502q
OMB control number: 7100-0079
Frequency: Quarterly
Reporters: Large foreign branches and banking subsidiaries of U.S. 
banks
Annual reporting hours: 7,266
Estimated average hours per response: 3.5
Number of respondents: 483 branches, 36 subsidiaries
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(2), 353 et seq., 461, 602, and 625) and is 
given confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: This report collects assets and liability information 
from foreign branches and subsidiaries of U.S. commercial banks and 
Edge and agreement corporations. A separate schedule collects 
information on Eurodollar liabilities payable to certain U.S. 
addressees. The data are used in the construction of the monetary 
aggregates and to monitor flows of funds between banks and their 
branches. The data also are combined with data from other sources to 
develop a profile of the total exposure of U.S. banks to individual 
countries. Together with data from the Department of the Treasury, the 
FR 2502q provides information that the Bank for International 
Settlements compiles from all G-10 countries on international banking 
market developments. In addition, data from the FR 2502q are used by 
the Department of Commerce to estimate the capital accounts portions of 
the balance of payments.
    The revised reporting threshold for branches has been raised from 
$150 million to $500 million in total assets. The number of data items 
collected on the Eurodollar schedule has been reduced from three to 
one, and updates and clarifications were made to the reporting form and 
instructions.
    The revised report will be implemented on the March 31, 1997, as-of 
date.
    Board of Governors of the Federal Reserve System, March 11, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-6578 Filed 3-14-97; 8:45AM]
Billing Code 6210-01-F