[Federal Register Volume 66, Number 109 (Wednesday, June 6, 2001)]
[Notices]
[Pages 30467-30468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-14138]


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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: 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. 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.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Mary M. West--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, Without Revision, of the Following Reports

    1. Report title: Notice of Proposed Stock Redemption.
    Agency form number: FR 4008.
    OMB control number: 7100-0131.
    Frequency: On occasion.
    Reporters: Bank holding companies.
    Annual reporting hours: 310 hours.
    Estimated average hours per response: 15.5 hours.
    Number of respondents: 20.
    Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)) and is not given confidential treatment.
    Abstract: The Federal Reserve System requires a bank holding 
company (BHC), other than a well-run company, to give written notice to 
its District Federal Reserve Bank before purchasing or redeeming its 
equity securities if the consideration paid for the proposed redemption 
and other redemptions over the preceding twelve months is 10 percent or 
more of the company's consolidated net worth. There is no reporting 
form; the BHC notifies the Federal Reserve by letter prior to making 
the proposed redemption. The Federal Reserve uses the information to 
fulfill its statutory obligation to supervise bank holding companies.

    2. Report title: Notice Claiming Status as an Exempt Transfer 
Agent.
    Agency form number: FR 4013.
    OMB control number: 7100-0137.
    Frequency: On occasion.
    Reporters: Banks, bank holding companies, and trust companies.
    Annual reporting hours: 12 hours.
    Estimated average hours per response: 2 hours.
    Number of respondents: 6.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 78q-1(c)(1)) and is not given confidential 
treatment.

[[Page 30468]]

    Abstract: Banks, bank holding companies, and trust companies 
subject to the Federal Reserve's supervision that are low-volume 
transfer agents voluntarily file the FR 4013 notice on occasion with 
Federal Reserve Board. Transfer agents are institutions that provide 
securities transfer, registration, monitoring, and other specified 
services on behalf of securities issuers. The purpose of the notice, 
which is effective until the agent withdraws it, is to claim exemption 
from certain rules and regulations of the Securities and Exchange 
Commission (SEC). The Federal Reserve uses the notices for supervisory 
purposes because the SEC has assigned to the Federal Reserve 
responsibility for collecting the notices and verifying their accuracy 
through examinations of the respondents. The notice is made by letter; 
there is no reporting form.

    3. Report title: Survey to Obtain Information on the Relevant 
Market in Individual Merger Cases.
    Agency form number: FR 2060.
    OMB control number: 7100-0232.
    Frequency: On occasion.
    Reporters: Small businesses and consumers.
    Annual reporting hours: 37 hours.
    Estimated average hours per response: 10 minutes for small 
businesses, 6 minutes for consumers.
    Number of respondents: 25 small businesses and 50 consumers per 
survey.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 1817(j), 1828 (c), and 1841 et seq.) and is given 
confidential treatment (5 U.S.C. 552(b)(4) and (b)(6)).
    Abstract: The Federal Reserve uses this telephone survey to 
determine the sources from which small businesses and consumers in a 
particular geographical area obtain financial services. The information 
is needed for specific merger and acquisition applications to determine 
relevant banking markets in the analysis of local market competition.

Final Approval Under OMB Delegated Authority of the Extension for 
Three Years, With Revision, of 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.-chartered commercial banks.
    Annual reporting hours: 18,850 hours.
    Estimated average hours per response: 7.25 hours.
    Number of respondents: 50.
    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)).

    2. Report title: Weekly Report of Selected Assets.
    Agency form number: FR 2644.
    OMB control number: 7100-0075.
    Frequency: Weekly.
    Reporters: U.S.-chartered commercial banks.
    Annual reporting hours: 66,924 hours.
    Estimated average hours per response: 1.17 hours.
    Number of respondents: 1,100.
    Small businesses are 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)).

    3. Report title: Weekly Report of Assets and Liabilities for Large 
U.S. Branches and Agencies of Foreign Banks.
    Agency form number: FR 2069.
    OMB control number: 7100-0030.
    Frequency: Weekly.
    Reporters: U.S. branches and agencies of foreign (non-U.S.) banks.
    Annual reporting hours: 27,891 hours.
    Estimated average hours per response: 5.83 hours.
    Number of respondents: 92.
    Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248 (a)(2) and 3105(a)(2)) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2416 is a detailed, 46-item balance sheet that 
covers domestic offices of large U.S.-chartered commercial banks. The 
FR 2644 collects 17 items covering investments and loans plus total 
assets and three memorandum items, two that disaggregate total 
borrowings between bank and nonbank sources and one for mortgage-backed 
securities. The FR 2069 is a detailed, 28-item balance sheet that 
covers large U.S. branches and agencies of foreign banks. These reports 
are collected as of each Wednesday.
    These three voluntary reports are mainstays of the Federal 
Reserve's reporting system from which data for analysis of current 
banking developments are derived. The FR 2416 is used on a stand-alone 
basis as the ``large domestic bank series.'' The other two reports are 
samples for estimating outstandings for the universe, using data for 
benchmarks from the quarterly commercial bank Consolidated Reports of 
Condition and Income (FFIEC 031/041; OMB No. 7100-0036) and the Report 
of Assets and Liabilities of U.S. Branches and Agencies of Foreign 
Banks (FFIEC 002; OMB No.7100-0032) (Call Reports). Data from all three 
reports, together with data from other sources, are used for 
constructing weekly estimates of bank credit, of sources and uses of 
bank funds, and of a balance sheet for the banking system as a whole. 
These estimates are used in constructing the bank credit component of 
the domestic nonfinancial debt aggregate.
    The Federal Reserve publishes the data in aggregate form in a 
statistical release that is followed closely by other government 
agencies, the banking industry, the financial press, and other users. 
This weekly H.8 statistical release, ``Assets and Liabilities of 
Commercial Banks in the United States,'' provides a balance sheet for 
the banking industry as a whole and disaggregated by its large 
domestic, small domestic, and foreign related components
    Current Actions: The Federal Reserve has approved the proposed 
changes to these three reports to conform with the March 31, 2001, and 
June 30, 2001, changes to the Call Reports. In addition to these 
revisions, on the FR 2416, the Federal Reserve approved a minor 
redefinition of ``Commercial real estate loans'' to include loans 
secured by farmland. The Federal Reserve determined that real estate 
loans secured by farmland, currently reported in ``All other loans 
secured by real estate,'' are used primarily for the financing of land 
for production (a commercial purpose), rather than for financing the 
improvements on the land, such as farmhouses. Thus, the bulk of farm 
real estate loans have a commercial, rather than a residential, 
character.
    These proposed changes to the FR 2416, FR 2644, and FR 2069 will be 
effective with the reports for July 4, 2001.

    Board of Governors of the Federal Reserve System, May 31, 2001.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 01-14138 Filed 6-5-01; 8:45 am]
BILLING CODE 6210-01-P