Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 58408-58410 [05-20031]
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58408
Federal Register / Vol. 70, No. 193 / Thursday, October 6, 2005 / Notices
EPA Index No. CERCLA–02–2004–2011,
and should be addressed to the
individual identified below.
FOR FURTHER INFORMATION CONTACT:
Kedari Reddy, Assistant Regional
Counsel, New Jersey Superfund Branch,
Office of Regional Counsel, U.S.
Environmental Protection Agency, 17th
Floor, 290 Broadway, New York, New
York 10007. Telephone: (212) 637–3106.
Dated: September 26, 2005.
William McCabe,
Acting Division Director, Emergency &
Remedial Response Division.
[FR Doc. 05–20105 Filed 10–5–05; 8:45 am]
BILLING CODE 6560–50–U
FEDERAL ELECTION COMMISSION
Sunshine Act Notices
PREVIOUSLY ANNOUNCED DATE AND TIME:
Thursday, October 6, 2005, 2 p.m.
meeting open to the public. This
meeting has been cancelled.
*
*
*
*
*
PERSON TO CONTACT FOR INFORMATION:
BILLING CODE 6715–01–M
FEDERAL MARITIME COMMISSION
FEDERAL MARITIME COMMISSION
[Docket No. 05–06]
Non-Vessel-Operating Common Carrier
Service Arrangements; Extension of
Time
The Commission has received and
determined to grant a request from the
Department of Justice for an extension
of time to October 20, 2005 to file
comments in this proceeding.
Comments will now be due on October
20, 2005.
FEDERAL RESERVE SYSTEM
Agency Information Collection
Activities: Announcement of Board
Approval Under Delegated Authority
and Submission to OMB
SUMMARY:
Notice of Agreements Filed
The Commission hereby gives notice
of the filing of the following agreements
under the Shipping Act of 1984.
Interested parties may submit comments
on an agreement to the Secretary,
Federal Maritime Commission,
Washington, DC 20573, within ten days
of the date this notice appears in the
Federal Register. Copies of agreements
are available through the Commission’s
Office of Agreements (202–523–5793 or
tradeanalysis@fmc.gov).
Agreement No.: 011921.
Title: Hapag Lloyd/CP Ships
Agreement.
Parties: CP Ships USA, LLC/CP Ships
(UK) Limited, and Hapag-Lloyd
Container Line GmbH.
Filing Parties: Jeffrey F. Lawrence,
Esq., and David F. Smith, Esq.; Sher &
Blackwell LLP; 1850 M Street, NW.,
Suite 900; Washington, DC 20036.
Synopsis: The proposed agreement
would authorize the parties to discuss
and agree on rates, terms, and
conditions in all U.S. trades; share space
on each other’s vessels; and engage in
Jkt 208001
BILLING CODE 6730–01–U
BILLING CODE 6730–01–U
Mary W. Dove,
Secretary of the Commission.
[FR Doc. 05–20295 Filed 10–4–05; 3:11 pm]
19:52 Oct 05, 2005
Dated: October 3, 2005.
By order of the Federal Maritime
Commission.
Bryant L. VanBrakle,
Secretary.
[FR Doc. 05–20135 Filed 10–5–05; 8:45 am]
Bryant L. VanBrakle,
Secretary.
[FR Doc. 05–20136 Filed 10–5–05; 8:45 am]
Mr. Robert Biersack, Press Officer,
Telephone: (202) 694–1220.
VerDate Aug<31>2005
other cooperative activities. The parties
request expedited review.
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). 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 instrument(s) 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—Michelle Long—Division of
Research and Statistics, Board of
Governors of the Federal Reserve
PO 00000
Frm 00039
Fmt 4703
Sfmt 4703
System, Washington, DC 20551 (202–
452–3829).
OMB Desk Officer—Mark Menchik—
Office of Information and Regulatory
Affairs, Office of Management and
Budget, New Executive Office Building,
Room 10235, Washington, DC 20503, or
e-mail to mmenchik@omb.eop.gov.
Final approval under OMB delegated
authority of the extension for three
years, with revision of the following
reports:
1. Report title: Domestic Finance
Company Report of Consolidated Assets
and Liabilities.
Agency form number: FR 2248.
OMB control number: 7100–0005.
Frequency: Monthly, quarterly, and
semi-annually.
Reporters: Domestic finance
companies and mortgage companies.
Annual reporting hours: 352 hours.
Estimated average hours per response:
Monthly, 18 minutes; quarterly, 25
minutes; semi-annually, 10 minutes.
Number of respondents: 80.
General description of report: This
information collection is voluntary (12
U.S.C. 225(a)). Individual respondent
data are confidential under section
(b)(4) of the Freedom of Information Act
(5 U.S.C. 552).
Abstract: The monthly FR 2248 report
collects balance sheet data on major
categories of consumer and business
credit receivables, major short-term
liabilities, and securitized assets. For
quarter-end months (March, June,
September, and December), additional
asset and liability items are collected to
provide a full balance sheet. If the need
arises, a special addendum may be used,
no more than semi-annually, for timely
information on questions of immediate
concern to the Federal Reserve.
The data are used to construct
universe estimates of finance company
holdings, which are published in the
monthly statistical releases Finance
Companies (G.20) and Consumer Credit
(G.19), in the quarterly statistical release
Flow of Funds Accounts of the United
States (Z.1), and in the Federal Reserve
Bulletin (Tables 1.51, 1.52, and 1.55).
Current Actions: On July 26, 2005, the
Federal Reserve issued for public
comment proposed revisions to the FR
2248 report (70 FR 43146). The
comment period ended on September
26, 2005. The Federal Reserve did not
receive any comments. The changes will
be implemented as proposed. The
Federal Reserve will change the
respondent panel definition to include
mortgage companies. In addition, the
Federal Reserve will instruct finance
companies to include the assets and
liabilities of their mortgage company
subsidiaries. In addition, the Federal
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06OCN1
Federal Register / Vol. 70, No. 193 / Thursday, October 6, 2005 / Notices
Reserve is concurrently proposed
similar revisions on the FR 3033.
The inclusion of mortgage companies
will improve estimates of financial
flows, particularly household mortgage
debt growth, as measured by the Federal
Reserve Board’s Flow of Funds
accounts. Since Housing and Urban
Development discontinued its Survey of
Mortgage Lending Activity in the late
1990s, the Federal Reserve has been
without a regular data source on the
activities of mortgage companies.
During this time, these firms may have
accumulated inventories of loans that
the estimates are not measuring. Also, as
the front end of the mortgage
‘‘pipeline,’’ mortgage companies may at
times temporarily hold significant
balances of mortgages awaiting
securitization or sale. Thus, expanding
the scope of the FR 2248 to include
mortgage companies will improve the
estimate of the overall stock of mortgage
debt, and also mitigate likely
measurement error in the quarterly flow
measures of household debt growth
from our failure to observe transitory
mortgage holdings of these firms.
2. Report title: Quinquennial Finance
Company Questionnaire and Survey.
Agency form number: FR 3033.
OMB control number: 7100–0277.
Frequency: One-time.
Reporters: Domestic finance
companies and mortgage companies.
Annual reporting hours:
Questionnaire, 1,000; survey, 315 hours.
Estimated average hours per response:
Questionnaire, 0.25 hours; survey, 0.42
hours.
Number of respondents:
Questionnaire, 4,000; survey, 750.
General description of report: This
information collection is voluntary (12
U.S.C. 225a, 263, and 353–359).
Individual respondent data are
confidential under section (b)(4) of the
Freedom of Information Act (5 U.S.C.
552).
Abstract: Since June 1955, the Federal
Reserve System has surveyed the assets
and liabilities of finance companies at
five-year intervals. The first stage is a
questionnaire (FR 3033p), which is sent
to all domestic finance companies. The
questionnaire asks for information on
each company’s total net assets, areas of
specialization, and other characteristics.
From the universe of FR 3033p
questionnaire respondents, the Federal
Reserve will draw a stratified random
sample of finance companies for the
second stage, the survey itself (FR
3033s). The survey will request detailed
information, as of December 31, 2005,
from both sides of the respondents’
balance sheets.
VerDate Aug<31>2005
19:52 Oct 05, 2005
Jkt 208001
Current Actions: On July 26, 2005, the
Federal Reserve issued for public
comment proposed revisions to the FR
2248 report (70 FR 43146). The
comment period ended on September
26, 2005. The Federal Reserve did not
receive any comments. The changes will
be implemented as proposed. The
Federal Reserve proposed two major
revisions: (1) To change the respondent
panel definition to include mortgage
companies and (2) to instruct finance
companies to include the assets and
liabilities of their mortgage company
subsidiaries. In addition, the Federal
Reserve proposed similar revisions on
the FR 2248.
The inclusion of mortgage companies
will improve estimates of financial
flows, particularly household mortgage
debt growth, as measured by the Federal
Reserve Board’s Flow of Funds
accounts. Since Housing and Urban
Development discontinued its Survey of
Mortgage Lending Activity in the late
1990s, the Federal Reserve has been
without a regular data source on the
activities of mortgage companies.
During this time, these firms may have
accumulated inventories of loans that
the estimates are not measuring. Also, as
the front end of the mortgage
‘‘pipeline,’’ mortgage companies may at
times temporarily hold significant
balances of mortgages awaiting
securitization or sale. Thus, expanding
the scope of the FR 3033 to include
mortgage companies will improve the
estimate of the overall stock of mortgage
debt, and also mitigate likely
measurement error in the quarterly flow
measures of household debt growth
from our failure to observe transitory
mortgage holdings of these firms.
3. Report title: Application for
Membership in the Federal Reserve
System.
Agency form number: FR 2083,
2083A, 2083B, and 2083C.
OMB control number: 7100–0046.
Frequency: On occasion.
Reporters: Newly organized banks
that seek to become state member banks,
or existing banks or savings institutions
that seek to convert to state member
bank status.
Annual reporting hours: 320 hours.
Estimated average hours per response:
4 hours.
Number of respondents: 80.
General description of report: This
information collection is authorized by
Section 9 of the Federal Reserve Act (12
U.S.C. 321, 322, and 333) and is
required to obtain or retain a benefit.
Most individual respondent data are not
considered confidential. Applicants
may, however, request that parts of their
membership applications be kept
PO 00000
Frm 00040
Fmt 4703
Sfmt 4703
58409
confidential, but in such cases the
applicant must justify its request by
demonstrating that disclosure would
cause ‘‘substantial competitive harm’’ or
result in ‘‘an unwarranted invasion of
personal privacy.’’ Because the
confidentiality status of the information
submitted will be judged on a case-bycase basis, the forms themselves raise no
issues under the Freedom of
Information Act, (5 U.S.C. 552).
Abstract: The application for
membership is a required one-time
submission that collects the information
necessary for the Federal Reserve to
evaluate the statutory criteria for
admission of a new or existing state
bank into membership in the Federal
Reserve System. This application
provides managerial, financial, and
structural data.
Current actions: On July 26, 2005, the
Federal Reserve issued for public
comment proposed revisions to the FR
2083, FR 2083a, FR 2083b, and FR
2083c (70 FR 43146). The comment
period ended on September 26, 2005.
The Federal Reserve did not receive any
comments. Section I of the FR 2083
form will be modified to reflect the
Federal Reserve’s fingerprint
requirement, which differs from that of
the other banking agencies. Section II
will be modified to clarify certain
information that needs to be submitted
with a membership proposal.
Information about recent or
contemplated changes in the
management, ownership, or the
business plan of an existing bank must
be known before action can be taken on
a related membership application. The
new questions in Section II about new
principal ownership, anticipated
changes in management of applicant (or
applicant’s parent company), and
management plans for the bank do not
represent new information
requirements, but rather information
that has always been gathered as part of
the overall review of a membership
proposal.
The FR 2083A and 2083B will be
modified so that they request the same
capital and surplus data as of the bank’s
most recent (Consolidated Reports of
Condition and Income (Report of
Condition) (FFIEC 031 and 041; OMB
No. 7100–0036) or a contemplated
merger or consolidation date) as
requested in the Application for Federal
Reserve Bank Stock (FR 2030; OMB No.
7100–0042). The FR 2083B also will be
modified to eliminate a reference to the
most recent examination of the applying
bank by the Reserve Bank; it will now
refer only to the most recent Report of
Condition for deposit information. The
FR 2083C will be modified to include
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06OCN1
58410
Federal Register / Vol. 70, No. 193 / Thursday, October 6, 2005 / Notices
more signature lines as the current four
lines are often not sufficient.
Three sections of the General
Information and Instructions of the FR
2083 will be modified to recognize new
sources of available information,
provide other practical advice to an
applicant, and ensure further
consistency with other applications.
The Preparation of Application section
has been modified to reflect that the
Federal Reserve’s public Web site now
contains substantial filing information,
including relevant regulations, which an
applicant may find helpful when
preparing a membership filing. As in
other application filing instructions, the
applicant is encouraged to consult with
the appropriate Reserve Bank about the
informational needs of a specific
membership proposal. The section also
recognizes a new requirement adopted
by the Federal Reserve in May 2003 that
an individual associated with a banking
proposal may need to submit fingerprint
cards as part of the name check process.
Also, to ensure proper handling of a
filing, applicants are encouraged to
clearly identify when expedited
processing is being sought. All of the
proposed revisions to the
Confidentiality and Compliance
sections are to ensure consistency with
the bank holding company application
and notifications forms. The
Application for Prior Approval to
Become a Bank Holding Company or for
a Bank Holding Company to Acquire an
Additional Bank or Bank Holding
Company (FR Y–3), the Notification for
Prior Approval to Become a Bank
Holding Company or for a Bank Holding
Company to Acquire an Additional
Bank or Bank Holding Company (FR Y–
3N), and the Notification for Prior
Approval to Engage Directly or
Indirectly in Certain Nonbanking
Activities (FR Y–4) (OMB No. 7100–
0121).
4. Report title: Applications for
Subscription to, Adjustment in the
Holding of, and Cancellation of Federal
Reserve Bank Stock
Agency form number: FR 2030, FR
2030a, FR 2056, FR 2086, FR 2086a, FR
2087
OMB control number: 7100–0042
Frequency: On occasion
Reporters: National, state member,
and nonmember banks
Annual reporting hours: FR 2030: 27
hours; FR 2030a: 13 hours; FR 2056: 775
hours; FR 2086: 4 hours; FR 2086a: 19
hours FR 2087: 2 hours
Estimated average hours per response:
0.5 hours
Number of respondents: FR 2030: 54;
FR 2030a: 25; FR 2056: 1,550; FR 2086:
7; FR 2086a: 37 FR 2087: 4
VerDate Aug<31>2005
19:52 Oct 05, 2005
Jkt 208001
General description of report: These
information collections are required to
obtain or retain a benefit.
• FR 2030 and FR 2030a: (12 U.S.C.
222, 282, 248(a) and 321)
• FR 2056: (12 U.S.C. 287, 248(a) and
(i))
• FR 2086: (12 U.S.C. 287, 248(a) and
(i))
• FR 2086a: (12 U.S.C. 321, 287,
248(a))
• FR 2087: (12 U.S.C. 288, 248(a) and
(i))
Most individual respondent data are
not considered confidential. Applicants
may, however, request that parts of their
membership applications be kept
confidential, but in such cases the
applicant must justify its request by
demonstrating that disclosure would
cause ‘‘substantial competitive harm’’ or
result in ‘‘an unwarranted invasion of
personal privacy.’’ Because the
confidentiality status of the information
submitted will be judged on a case-bycase basis, the forms themselves raise no
issues under the Freedom of
Information Act, (5 U.S.C. 552).
Abstract: These application forms are
required by the Federal Reserve Act and
Regulation I. These forms must be used
by a new or existing member bank
(including a national bank) to request
the issuance, and adjustment in, or
cancellation of Federal Reserve Bank
stock. The forms must contain certain
certifications by the applicants, as well
as certain other financial and
shareholder data that is needed by the
Federal Reserve to process the request.
Current actions: On July 26, 2005, the
Federal Reserve issued for public
comment proposed revisions to the FR
2056 and FR 2086a (70 FR 43146). The
comment period ended on September
26, 2005. The Federal Reserve did not
receive any comments. There are no
changes to four of the six application
forms (the FR 2030, 2030a, 2086, and
2087). The changes proposed for the
other two forms (the 2056, and 2086a)
are generally technical in nature. The
FR 2056 and its attachment will be
modified to allow for their usage by a
mutual savings bank (which currently
has no adjustment form) and to ensure
that the correct capital and surplus data
is provided when the requested
adjustment relates to a proposed merger
or consolidation. The modifications will
allow this form to be used by a member
bank that survives the merger or
consolidation of two member banks, an
adjustment not clearly addressed by the
current stock forms. The FR 2086a also
will be slightly modified to reflect that
it could be used by a member bank that
is eliminated during the merger or
consolidation of two member banks for
PO 00000
Frm 00041
Fmt 4703
Sfmt 4703
the cancellation of its Federal Reserve
Bank stock.
Board of Governors of the Federal Reserve
System, September 30, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 05–20031 Filed 10–5–05; 8:45 am]
BILLING CODE 6210–01–U
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR Part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The application also will be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Additional information on all bank
holding companies may be obtained
from the National Information Center
Web ite at https://www.ffiec.gov/nic/.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than October 31,
2005.
A. Federal Reserve Bank of St. Louis
(Glenda Wilson, Community Affairs
Officer) 411 Locust Street, St. Louis,
Missouri 63166–2034:
1. First Banks, Inc., Hazelwood,
Missouri; to acquire an additional 8.52
percent, for a total of 24.99 percent, of
the voting shares of Community West
Bancshares, Goleta, California, and
thereby indirectly acquire voting shares
of Community West Bank, National
Association, Goleta, California.
E:\FR\FM\06OCN1.SGM
06OCN1
Agencies
[Federal Register Volume 70, Number 193 (Thursday, October 6, 2005)]
[Notices]
[Pages 58408-58410]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-20031]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
SUMMARY:
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). 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 instrument(s) 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--Michelle Long--Division of Research and Statistics, Board of
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829).
OMB Desk Officer--Mark Menchik--Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 10235, Washington, DC 20503, or e-mail to
mmenchik@omb.eop.gov.
Final approval under OMB delegated authority of the extension for
three years, with revision of the following reports:
1. Report title: Domestic Finance Company Report of Consolidated
Assets and Liabilities.
Agency form number: FR 2248.
OMB control number: 7100-0005.
Frequency: Monthly, quarterly, and semi-annually.
Reporters: Domestic finance companies and mortgage companies.
Annual reporting hours: 352 hours.
Estimated average hours per response: Monthly, 18 minutes;
quarterly, 25 minutes; semi-annually, 10 minutes.
Number of respondents: 80.
General description of report: This information collection is
voluntary (12 U.S.C. 225(a)). Individual respondent data are
confidential under section (b)(4) of the Freedom of Information Act (5
U.S.C. 552).
Abstract: The monthly FR 2248 report collects balance sheet data on
major categories of consumer and business credit receivables, major
short-term liabilities, and securitized assets. For quarter-end months
(March, June, September, and December), additional asset and liability
items are collected to provide a full balance sheet. If the need
arises, a special addendum may be used, no more than semi-annually, for
timely information on questions of immediate concern to the Federal
Reserve.
The data are used to construct universe estimates of finance
company holdings, which are published in the monthly statistical
releases Finance Companies (G.20) and Consumer Credit (G.19), in the
quarterly statistical release Flow of Funds Accounts of the United
States (Z.1), and in the Federal Reserve Bulletin (Tables 1.51, 1.52,
and 1.55).
Current Actions: On July 26, 2005, the Federal Reserve issued for
public comment proposed revisions to the FR 2248 report (70 FR 43146).
The comment period ended on September 26, 2005. The Federal Reserve did
not receive any comments. The changes will be implemented as proposed.
The Federal Reserve will change the respondent panel definition to
include mortgage companies. In addition, the Federal Reserve will
instruct finance companies to include the assets and liabilities of
their mortgage company subsidiaries. In addition, the Federal
[[Page 58409]]
Reserve is concurrently proposed similar revisions on the FR 3033.
The inclusion of mortgage companies will improve estimates of
financial flows, particularly household mortgage debt growth, as
measured by the Federal Reserve Board's Flow of Funds accounts. Since
Housing and Urban Development discontinued its Survey of Mortgage
Lending Activity in the late 1990s, the Federal Reserve has been
without a regular data source on the activities of mortgage companies.
During this time, these firms may have accumulated inventories of loans
that the estimates are not measuring. Also, as the front end of the
mortgage ``pipeline,'' mortgage companies may at times temporarily hold
significant balances of mortgages awaiting securitization or sale.
Thus, expanding the scope of the FR 2248 to include mortgage companies
will improve the estimate of the overall stock of mortgage debt, and
also mitigate likely measurement error in the quarterly flow measures
of household debt growth from our failure to observe transitory
mortgage holdings of these firms.
2. Report title: Quinquennial Finance Company Questionnaire and
Survey.
Agency form number: FR 3033.
OMB control number: 7100-0277.
Frequency: One-time.
Reporters: Domestic finance companies and mortgage companies.
Annual reporting hours: Questionnaire, 1,000; survey, 315 hours.
Estimated average hours per response: Questionnaire, 0.25 hours;
survey, 0.42 hours.
Number of respondents: Questionnaire, 4,000; survey, 750.
General description of report: This information collection is
voluntary (12 U.S.C. 225a, 263, and 353-359). Individual respondent
data are confidential under section (b)(4) of the Freedom of
Information Act (5 U.S.C. 552).
Abstract: Since June 1955, the Federal Reserve System has surveyed
the assets and liabilities of finance companies at five-year intervals.
The first stage is a questionnaire (FR 3033p), which is sent to all
domestic finance companies. The questionnaire asks for information on
each company's total net assets, areas of specialization, and other
characteristics. From the universe of FR 3033p questionnaire
respondents, the Federal Reserve will draw a stratified random sample
of finance companies for the second stage, the survey itself (FR
3033s). The survey will request detailed information, as of December
31, 2005, from both sides of the respondents' balance sheets.
Current Actions: On July 26, 2005, the Federal Reserve issued for
public comment proposed revisions to the FR 2248 report (70 FR 43146).
The comment period ended on September 26, 2005. The Federal Reserve did
not receive any comments. The changes will be implemented as proposed.
The Federal Reserve proposed two major revisions: (1) To change the
respondent panel definition to include mortgage companies and (2) to
instruct finance companies to include the assets and liabilities of
their mortgage company subsidiaries. In addition, the Federal Reserve
proposed similar revisions on the FR 2248.
The inclusion of mortgage companies will improve estimates of
financial flows, particularly household mortgage debt growth, as
measured by the Federal Reserve Board's Flow of Funds accounts. Since
Housing and Urban Development discontinued its Survey of Mortgage
Lending Activity in the late 1990s, the Federal Reserve has been
without a regular data source on the activities of mortgage companies.
During this time, these firms may have accumulated inventories of loans
that the estimates are not measuring. Also, as the front end of the
mortgage ``pipeline,'' mortgage companies may at times temporarily hold
significant balances of mortgages awaiting securitization or sale.
Thus, expanding the scope of the FR 3033 to include mortgage companies
will improve the estimate of the overall stock of mortgage debt, and
also mitigate likely measurement error in the quarterly flow measures
of household debt growth from our failure to observe transitory
mortgage holdings of these firms.
3. Report title: Application for Membership in the Federal Reserve
System.
Agency form number: FR 2083, 2083A, 2083B, and 2083C.
OMB control number: 7100-0046.
Frequency: On occasion.
Reporters: Newly organized banks that seek to become state member
banks, or existing banks or savings institutions that seek to convert
to state member bank status.
Annual reporting hours: 320 hours.
Estimated average hours per response: 4 hours.
Number of respondents: 80.
General description of report: This information collection is
authorized by Section 9 of the Federal Reserve Act (12 U.S.C. 321, 322,
and 333) and is required to obtain or retain a benefit. Most individual
respondent data are not considered confidential. Applicants may,
however, request that parts of their membership applications be kept
confidential, but in such cases the applicant must justify its request
by demonstrating that disclosure would cause ``substantial competitive
harm'' or result in ``an unwarranted invasion of personal privacy.''
Because the confidentiality status of the information submitted will be
judged on a case-by-case basis, the forms themselves raise no issues
under the Freedom of Information Act, (5 U.S.C. 552).
Abstract: The application for membership is a required one-time
submission that collects the information necessary for the Federal
Reserve to evaluate the statutory criteria for admission of a new or
existing state bank into membership in the Federal Reserve System. This
application provides managerial, financial, and structural data.
Current actions: On July 26, 2005, the Federal Reserve issued for
public comment proposed revisions to the FR 2083, FR 2083a, FR 2083b,
and FR 2083c (70 FR 43146). The comment period ended on September 26,
2005. The Federal Reserve did not receive any comments. Section I of
the FR 2083 form will be modified to reflect the Federal Reserve's
fingerprint requirement, which differs from that of the other banking
agencies. Section II will be modified to clarify certain information
that needs to be submitted with a membership proposal. Information
about recent or contemplated changes in the management, ownership, or
the business plan of an existing bank must be known before action can
be taken on a related membership application. The new questions in
Section II about new principal ownership, anticipated changes in
management of applicant (or applicant's parent company), and management
plans for the bank do not represent new information requirements, but
rather information that has always been gathered as part of the overall
review of a membership proposal.
The FR 2083A and 2083B will be modified so that they request the
same capital and surplus data as of the bank's most recent
(Consolidated Reports of Condition and Income (Report of Condition)
(FFIEC 031 and 041; OMB No. 7100-0036) or a contemplated merger or
consolidation date) as requested in the Application for Federal Reserve
Bank Stock (FR 2030; OMB No. 7100-0042). The FR 2083B also will be
modified to eliminate a reference to the most recent examination of the
applying bank by the Reserve Bank; it will now refer only to the most
recent Report of Condition for deposit information. The FR 2083C will
be modified to include
[[Page 58410]]
more signature lines as the current four lines are often not
sufficient.
Three sections of the General Information and Instructions of the
FR 2083 will be modified to recognize new sources of available
information, provide other practical advice to an applicant, and ensure
further consistency with other applications. The Preparation of
Application section has been modified to reflect that the Federal
Reserve's public Web site now contains substantial filing information,
including relevant regulations, which an applicant may find helpful
when preparing a membership filing. As in other application filing
instructions, the applicant is encouraged to consult with the
appropriate Reserve Bank about the informational needs of a specific
membership proposal. The section also recognizes a new requirement
adopted by the Federal Reserve in May 2003 that an individual
associated with a banking proposal may need to submit fingerprint cards
as part of the name check process. Also, to ensure proper handling of a
filing, applicants are encouraged to clearly identify when expedited
processing is being sought. All of the proposed revisions to the
Confidentiality and Compliance sections are to ensure consistency with
the bank holding company application and notifications forms. The
Application for Prior Approval to Become a Bank Holding Company or for
a Bank Holding Company to Acquire an Additional Bank or Bank Holding
Company (FR Y-3), the Notification for Prior Approval to Become a Bank
Holding Company or for a Bank Holding Company to Acquire an Additional
Bank or Bank Holding Company (FR Y-3N), and the Notification for Prior
Approval to Engage Directly or Indirectly in Certain Nonbanking
Activities (FR Y-4) (OMB No. 7100-0121).
4. Report title: Applications for Subscription to, Adjustment in
the Holding of, and Cancellation of Federal Reserve Bank Stock
Agency form number: FR 2030, FR 2030a, FR 2056, FR 2086, FR 2086a,
FR 2087
OMB control number: 7100-0042
Frequency: On occasion
Reporters: National, state member, and nonmember banks
Annual reporting hours: FR 2030: 27 hours; FR 2030a: 13 hours; FR
2056: 775 hours; FR 2086: 4 hours; FR 2086a: 19 hours FR 2087: 2 hours
Estimated average hours per response: 0.5 hours
Number of respondents: FR 2030: 54; FR 2030a: 25; FR 2056: 1,550;
FR 2086: 7; FR 2086a: 37 FR 2087: 4
General description of report: These information collections are
required to obtain or retain a benefit.
FR 2030 and FR 2030a: (12 U.S.C. 222, 282, 248(a) and 321)
FR 2056: (12 U.S.C. 287, 248(a) and (i))
FR 2086: (12 U.S.C. 287, 248(a) and (i))
FR 2086a: (12 U.S.C. 321, 287, 248(a))
FR 2087: (12 U.S.C. 288, 248(a) and (i))
Most individual respondent data are not considered confidential.
Applicants may, however, request that parts of their membership
applications be kept confidential, but in such cases the applicant must
justify its request by demonstrating that disclosure would cause
``substantial competitive harm'' or result in ``an unwarranted invasion
of personal privacy.'' Because the confidentiality status of the
information submitted will be judged on a case-by-case basis, the forms
themselves raise no issues under the Freedom of Information Act, (5
U.S.C. 552).
Abstract: These application forms are required by the Federal
Reserve Act and Regulation I. These forms must be used by a new or
existing member bank (including a national bank) to request the
issuance, and adjustment in, or cancellation of Federal Reserve Bank
stock. The forms must contain certain certifications by the applicants,
as well as certain other financial and shareholder data that is needed
by the Federal Reserve to process the request.
Current actions: On July 26, 2005, the Federal Reserve issued for
public comment proposed revisions to the FR 2056 and FR 2086a (70 FR
43146). The comment period ended on September 26, 2005. The Federal
Reserve did not receive any comments. There are no changes to four of
the six application forms (the FR 2030, 2030a, 2086, and 2087). The
changes proposed for the other two forms (the 2056, and 2086a) are
generally technical in nature. The FR 2056 and its attachment will be
modified to allow for their usage by a mutual savings bank (which
currently has no adjustment form) and to ensure that the correct
capital and surplus data is provided when the requested adjustment
relates to a proposed merger or consolidation. The modifications will
allow this form to be used by a member bank that survives the merger or
consolidation of two member banks, an adjustment not clearly addressed
by the current stock forms. The FR 2086a also will be slightly modified
to reflect that it could be used by a member bank that is eliminated
during the merger or consolidation of two member banks for the
cancellation of its Federal Reserve Bank stock.
Board of Governors of the Federal Reserve System, September 30,
2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 05-20031 Filed 10-5-05; 8:45 am]
BILLING CODE 6210-01-U