```

[Federal Register Volume 90, Number 23 (Wednesday, February 5, 2025)]
[Notices]
[Pages 9033-9034]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02255]

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

FEDERAL RESERVE SYSTEM

Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
Report of Selected Money Market Rates (FR 2420; OMB No. 7100-0357).

DATES: The revisions are effective February 9, 2026.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, [email protected], (202) 
452-3884.
    Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. The OMB inventory, as well as copies of the 
PRA Submission, supporting statements (which contain more detailed 
information about the information collections and burden estimates than 
this notice), and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also available on the Federal Reserve Board's public website at 
https://www.federalreserve.gov/apps/reportingforms/review or may be 
requested from the agency clearance officer, whose name appears above. 
On the page displayed at the link above, you can find the supporting 
information by referencing the collection identifier, FR 2420.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collection

    Collection title: Report of Selected Money Market Rates.

[[Page 9034]]

    Collection identifier: FR 2420.
    OMB control number: 7100-0357.
    General description of collection: The FR 2420 is a transaction-
based report that collects daily liability data on federal funds 
purchased, selected borrowings from non-exempt entities, Eurodollar 
transactions, and time deposits and certificates of deposits from (1) 
domestically chartered commercial banks and savings associations that 
have $18 billion or more in total assets as well as those that have 
total assets above $5 billion but less than $18 billion and meet the 
activity threshold, (2) U.S. branches and agencies of foreign banks 
with total third-party assets of $2.5 billion or more, and (3) 
significant banking organizations that are active participants in money 
markets. The FR 2420 also collects daily data on Eurodollar 
transactions from International Banking Facilities (IBFs) of the above-
referenced institutions. The FR 2420 data are used in the publication 
of the Effective Federal Funds Rate and Overnight Bank Funding Rate and 
in analysis of current money market conditions.
    Frequency: Daily.
    Respondents: Commercial banks, savings associations, U.S. branches 
and agencies of foreign banks, IBFs, and significant banking 
organizations representing entities actively participating in the 
federal funds and/or other money markets.
    Total estimated number of respondents: 277.
    Total estimated change in burden: 14,000.
    Total estimated annual burden hours: 133,825.
    Current actions: On September 30, 2024, the Board published a 
notice in the Federal Register (89 FR 79592) requesting public comment 
for 60 days on the extension, with revision, of the FR 2420. The Board 
proposed to add data items to the FR 2420 reporting form concerning 
short-term bank funding from the Federal Home Loan Banks (FHLBs) in the 
form of secured borrowings known as advances with one year or less to 
maturity at origination, as well as interest-bearing deposits placed by 
FHLBs without a specified maturity. In addition, the Board proposed to 
add an item to the time deposits section of the FR 2420 requiring 
respondents to denote which deposits are brokered transactions. The 
Board proposed to revise the FR 2420 instructions to add guidance 
related to submission of these new data items. Among other instruction 
revisions, the Board proposed to remove references to the London 
Interbank Offered Rate (LIBOR) in the instructions to reflect the 
cessation of U.S. dollar LIBOR. The comment period for this notice 
expired on November 29, 2024. The Board did not receive any comments. 
The revisions will be implemented as proposed.

    Board of Governors of the Federal Reserve System, January 31, 
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-02255 Filed 2-4-25; 8:45 am]
BILLING CODE 6210-01-P
```