15184 Federal Register / Vol. 62, No. 61 / Monday, March 31, 1997 / Notices

Dated: March 25, 1997.

By order of the Federal Maritime

Commission.

Joseph C. Polking,

Secretary.

[FR Doc. 97–8043 Filed 3–28–97; 8:45 am]

BILLING CODE 6730–01–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. A

copy of the OMB 83-I and supporting

statement and the approved collection

of information instrument 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 collection, 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 May 30, 1997.

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,

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.

Proposal to approve under OMB

delegated authority the extension for

three years, with revision, the following

report:

1. Report title: Report of Repurchase

Agreements (RPs) on U.S. Government

and Federal Agency Securities with

Specified Holders

Agency form number: FR 2415

OMB control number: 7100-0074

Frequency: weekly, quarterly, or

annually

Reporters: U.S.-chartered commercial

banks, U.S. branches and agencies of

foreign banks, and thrift institutions

Annual reporting hours: 4,037

Estimated average hours per response:

0.5

Number of respondents: 120 weekly,

208 quarterly, and 1,002 annually

Small businesses are not affected.

General description of report: This

information collection is voluntary (12

U.S.C. 248(a)(2)) and is given

confidential treatment (5 U.S.C.

552(b)(4)).

Abstract: Since 1980, the Federal

Reserve has collected two reports

providing detailed data on

nonreservable borrowings (primarily

federal funds and repurchase agreement

(RP) transactions) from large

commercial banks for construction of

the RP components of the monetary

aggregates and for other analytical

purposes. Over time, three other sample

reports have been added to this

reporting framework to provide RP data

from other depository institutions for

the construction of the monetary

aggregates. The Federal Reserve

proposes a complete overhaul of this

reporting framework, resulting in a

simplified reporting system and

significant reductions in item coverage.

The revised framework would be

implemented as of the end of June 1997.

Under the proposed revised reporting

system, the Federal Reserve would

collect a single report containing a

single item: RPs in denominations of

$100,000 or more, in immediatelyavailable funds, on U.S. government and

federal agency securities, transacted

with specified holders. Respondents

would submit the report weekly,

quarterly, or annually based on their RP

activity. The Federal Reserve estimates

that revised reporting system will

reduce annual respondent burden by

16,890 hours and annual respondent

costs by approximately $338 thousand.

The revised report will replace the

following system of existing reports: the

Report of Selected Borrowings, the Daily

Telephone Report of Selected

Borrowings, the Weekly Report of

Repurchase Agreements (FR 2415, FR

2415a, FR 2415t, respectively; OMB No.

7100-0074); and the Quarterly and

Annual Reports of Repurchase

Agreements (RPs) on U.S. Government

and Federal Agency Securities with

Specified Holders (FR 2090a and FR

2090a: OMB No. 7100-0205).

Board of Governors of the Federal Reserve

System, March 25, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–8056 Filed 3–28–97; 8:45AM]

Billing Code 6210–01–F