3120 Federal Register / Vol. 63, No. 13 / Wednesday, January 21, 1998 / Notices

It is further ordered, that the Motion

of Orient Overseas Container Lines, Inc.

to be dismissed as a party to Docket No.

97–18 is denied;

It is further ordered, that any person

having an interest and desiring to

intervene in this proceeding in

connection with the APL/MOL/HMM

Reciprocal Slot Exchange Agreement,

Agreement No. 203–011596, shall file a

petition for leave to intervene in

accordance with Rule 72 of the

Commission’s rules of practice and

procedure, 46 CFR 502.72. Such petition

shall be accompanied by the petitioner’s

memorandum of law and affidavits of

fact, if any, and shall be filed no later

than the day fixed below;

It is further ordered, that affidavits of

fact and memoranda of law addressing

issues with respect to both the Four

Party Agreement and the New

Agreement shall be filed by

Respondents and any intervenors in

support of Respondents no later than

February 20, 1998;

It is further ordered, that reply

affidavits and memoranda of law

addressing issues with respect to both

the Four Party Agreement and the New

Agreement shall be filed by the Bureau

of Enforcement and any intervenors in

opposition to Respondent no later than

March 20, 1998;

It is further ordered, that rebuttal

affidavits and memoranda of law

addressing issues with respect to both

the Four Party Agreement and the New

Agreement shall be filed by

Respondents and intervenors in support

no later than April 3, 1998;

It is further ordered, that, should any

party believe that an oral argument is

required, that party must submit a

request specifying the reasons therefore

and why argument by memorandum is

inadequate to present the party’s case.

Any request for oral argument shall be

filed no later than April 3, 1998;

It is further ordered, that notice of this

Order to Show Cause be published in

the Federal Register, and that a copy

thereof be served upon Respondents;

It is further ordered, that all

documents submitted by any party of

record in this proceeding shall be filed

in accordance with Rule 118 of the

Commission’s rules of practice and

procedure, 46 CFR 502.118, as well as

being mailed directly to all parties of

record;

Finally, it is ordered, that pursuant to

the terms of Rule 61 of the

Commission’s rules of practice and

procedure, 46 CFR 502.61, the Order to

Show Cause served October 17, 1997 in

this proceeding is amended to require

that the final decision of the

Commission in this proceeding shall be

issued by July 3, 1998.

By the Commission.

Joseph C. Polking,

Secretary.

[FR Doc. 98–1291 Filed 1–20–98; 8:45 am]

BILLING CODE 6730–01–M

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

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.

The revisions are effective beginning

with the January 28, 1998, report date.

On the FR 2004A and FR 2004B a line

has been added to report position and

transaction volumes with respect to

Treasury Inflation-Index Securities. On

the FR 2004A and FR 2004B four lines

have been 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 have been deleted. The

revisions, on a net basis, have no effect

on the current annual reporting burden.

The Board of Governors received one

comment, from The Bond Market

Association, which strongly endorsed

the revisions.

Final approval under OMB delegated

authority of 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
Federal Register / Vol. 63, No. 13 / Wednesday, January 21, 1998 / Notices 3121

1 62 FR 45295 (1997).

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. 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.

Final approval under OMB delegated

authority for 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 change is

estimated to reduce the annual reporting

burden from 46,592 hours to 44,928

hours.

Estimated average hours per response:

The change 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 has eliminated

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

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 has eliminated 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 are effective immediately.

2. Report title: Consolidated Financial

Statements for Bank Holding Companies

Agency form numbers: FR Y-9C, FR Y9LP, FR Y-9SP, FR Y-9CS

OMB control number: 7100-0128

Frequency: quarterly and semi-annual

Reporters: bank holding companies

Annual reporting hours: The change to

the FR Y-9C is estimated to reduce the

total annual reporting burden for these

reports from 262,818 hours to 261,361.

Estimated average hours per response:

ranges from 5 to 1,250 hours

Number of respondents: 7,430

Small businesses are affected.

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).

Abstract: The Board eliminated the

reporting requirements of Schedule HCJ on the Consolidated Financial

Statements for Bank Holding Companies

(FR Y-9C) effective for the fourth quarter

of 1997. The FR Y-9C consists of

standardized financial statements

similar to the commercial bank Report

of Condition and Income (FFIEC 031-

034; OMB No. 7100-0036). 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.

On August 27, 1997, the Board

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 Board 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 Board 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 Board has granted

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.

Board of Governors of the Federal Reserve

System, January 15, 1998.

William W. Wiles,

Secretary of the Board.

[FR Doc. 98–1353 Filed 1–20–98; 8:45 am]

BILLING CODE 6210–01–F