Proposed Agency Information Collection Activities; Comment Request, 40119-40121 [06-6228]
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40119
Federal Register / Vol. 71, No. 135 / Friday, July 14, 2006 / Notices
Member
City
Glacier Bank of Whitefish .....................................................................................
Bank of Astoria .....................................................................................................
Bank of Salem ......................................................................................................
Columbia River Bank ...........................................................................................
Cascade Bank ......................................................................................................
Raymond Federal Bank .......................................................................................
Evergreen Bank ....................................................................................................
Washington Federal Savings ...............................................................................
Sterling Savings Bank ..........................................................................................
Buffalo Federal Savings Bank ..............................................................................
Hilltop National Bank ............................................................................................
Big Horn Federal Savings Bank ...........................................................................
Whitefish ...............................................
Astoria ...................................................
Salem ....................................................
The Dalles .............................................
Everett ...................................................
Raymond ...............................................
Seattle ...................................................
Seattle ...................................................
Spokane ................................................
Buffalo ...................................................
Casper ..................................................
Greybull .................................................
II. Public Comments
Joint notice and request for
comment.
ACTION:
To encourage the submission of
public comments on the community
support performance of Bank members,
on or before July 28, 2006, each Bank
will notify its Advisory Council and
nonprofit housing developers,
community groups, and other interested
parties in its district of the members
selected for community support review
in the 2006–07 second quarter review
cycle. 12 CFR 944.2(b)(2)(ii). In
reviewing a member for community
support compliance, the Finance Board
will consider any public comments it
has received concerning the member. 12
CFR 944.2(d). To ensure consideration
by the Finance Board, comments
concerning the community support
performance of members selected for the
2006–07 second quarter review cycle
must be delivered to the Finance Board
on or before the September 1, 2006
deadline for submission of Community
Support Statements.
Dated: July 5, 2006.
John P. Kennedy,
General Counsel.
[FR Doc. E6–10779 Filed 7–13–06; 8:45 am]
BILLING CODE 6725–01–P
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35), the OCC, the Board, and the
FDIC (the ‘‘agencies’’) may not conduct
or sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number. The Federal
Financial Institutions Examination
Council (FFIEC), of which the agencies
are members, has approved the
agencies’ publication for public
comment of a proposal to extend, with
revision the Foreign Branch Report of
Condition (FFIEC 030), which is a
currently approved information
collection for each agency. At the end of
the comment period, the comments and
recommendations received will be
analyzed to determine the extent to
which the FFIEC should modify the
report. The agencies will then submit
the report to OMB for review and
approval.
Comments must be submitted on
or before September 12, 2006.
DATES:
Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the OMB control
number, will be shared among the
agencies.
OCC: Communications Division,
Office of the Comptroller of the
Currency, Public Information Room,
Mailstop 1–5, Attention: 1557–0099,
250 E Street, SW., Washington, DC
20219. In addition, comments may be
sent by fax to 202–874–4448, or by
electronic mail to
regs.comments@occ.treas.gov. You can
inspect and photocopy the comments at
the OCC’s Public Information Room, 250
E Street, SW., Washington, DC 20219.
You can make an appointment to
inspect the comments by calling 202–
874–5043.
ADDRESSES:
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
jlentini on PROD1PC65 with NOTICES
Proposed Agency Information
Collection Activities; Comment
Request
Office of the Comptroller of
the Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
AGENCIES:
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State
Montana.
Oregon.
Oregon.
Oregon.
Washington.
Washington.
Washington.
Washington.
Washington.
Wyoming.
Wyoming.
Wyoming.
Board: You may submit comments,
identified by FFIEC 030, by any of the
following methods:
• Agency Web site: https://
www.federalreserve.gov. Follow the
instructions for submitting comments
on the https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include docket number in the subject
line of the message.
• FAX: 202–452–3819 or 202–452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue, NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at https://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper in Room MP–500 of the Board’s
Martin Building (20th and C Streets,
NW.) between 9 a.m. and 5 p.m. on
weekdays.
FDIC: You may submit comments,
which should refer to ‘‘Foreign Branch
Report of Condition, 3064–0011,’’ by
any of the following methods:
• Agency Web site: https://
www.FDIC.gov/regulations/laws/
federal/notices.html.
• E-mail: comments@FDIC.gov.
Include ‘‘Foreign Branch Report of
Condition, 3064–0011’’ in the subject
line of the message.
• Mail: Steven F. Hanft (202–898–
3907), Paperwork Clearance Officer,
Room MB–3064, Federal Deposit
Insurance Corporation, 550 17th Street,
NW., Washington, DC 20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
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Federal Register / Vol. 71, No. 135 / Friday, July 14, 2006 / Notices
jlentini on PROD1PC65 with NOTICES
(located on F Street) on business days
between 7 a.m. and 5 p.m.
Public Inspection: All comments
received will be posted without change
to https://www.fdic.gov/regulations/laws/
federal/notices/html including any
personal information provided.
Comments may be inspected at the FDIC
Public Information Center, Room E–
1002, 3502 North Fairfax Drive,
Arlington, VA 22226, between 9 a.m.
and 5 p.m. on business days.
Additionally, commenters should
send a copy of their comments to the
OMB Desk Officer for the Agencies by
mail to the Office of Information and
Regulatory Affairs, U.S. 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.
FOR FURTHER INFORMATION CONTACT:
OCC: Mary Gottlieb, OCC Clearance
Officer, or Camille Dickerson, 202–874–
5090, Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
Board: Michelle Long, Federal
Reserve Board Clearance Officer, 202–
452–3829, Division of Research and
Statistics, Board of Governors of the
Federal Reserve System, 20th and C
Streets, NW., Washington, DC 20551.
Telecommunications Device for the Deaf
(TDD) users may call 202–263–4869,
Board of Governors of the Federal
Reserve System, 20th and C Streets,
NW., Washington, DC 20551.
FDIC: Steven F. Hanft, 202–898–3907,
Room MB–3064, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal
to request approval from OMB of the
extension for three years, with revision,
of the following currently approved
collections of information:
Report Title: Foreign Branch Report of
Condition.
Form Numbers: FFIEC 030 and FFIEC
030S.
Frequency of Response: Annually,
and quarterly for significant branches.
Affected Public: Business or other for
profit.
OCC
OMB Number: 1557–0099.
Estimated Number of Respondents:
118 annual branch respondents (FFIEC
030); 73 quarterly branch respondents
(FFIEC 030); 200 annual branch
respondents (FFIEC 030S).
Estimated Average Time Per
Response: 3.4 burden hours (FFIEC
030); 0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden:
1,494 burden hours.
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17:44 Jul 13, 2006
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Board
OMB Number: 7100–0071.
Estimated Number of Respondents: 17
annual branch respondents (FFIEC 030);
16 quarterly branch respondents (FFIEC
030); 24 annual branch respondents
(FFIEC 030S).
Estimated Average Time Per
Response: 3.4 burden hours (FFIEC
030); 0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden: 288
burden hours.
FDIC
OMB Number: 3064–0011.
Estimated Number of Respondents: 6
annual respondents (FFIEC 030); 2
quarterly respondents (FFIEC 030); 7
annual respondents (FFIEC 030S).
Estimated Average Time Per
Response: 3.4 burden hours (FFIEC
030); 0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden: 51
burden hours.
General Description of Reports
This information collection is
mandatory: 12 U.S.C. 321, 324, and 602
(Board); 12 U.S.C. 602 (OCC); and 12
U.S.C. 1828 (FDIC). This information
collection is given confidential
treatment (5 U.S.C. 552(b)(8)).
Abstract
The FFIEC 030 contains asset and
liability information for foreign
branches of insured U.S. commercial
banks and state-chartered savings banks
and is required for regulatory and
supervisory purposes. The information
is used to analyze the foreign operations
of U.S. banks. All foreign branches of
U.S. banks regardless of charter type file
this report with the appropriate Federal
Reserve District Bank. The Federal
Reserve collects this information on
behalf of the U.S. bank’s primary federal
bank regulatory agency.
Current Actions
To reduce respondent burden, the
agencies propose to eliminate five
reporting items for branches with total
assets in excess of $250 million, create
a short form (FFIEC 030S) containing
five items to be filed annually by
branches with total assets of between
$50 million and $250 million (in lieu of
filing the entire FFIEC 030 form), and
eliminate the filing requirement for
branches with less than $50 million in
total assets. Of the current number of
689 branch respondents, 231 branch
respondents have total assets of between
$50 million and $250 million and 226
respondents have less than $50 million
in total assets.1 Thus, under this
1 Respondents are permitted to report branches in
a single country on a consolidated basis. Therefore,
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proposal reporting burden would be
significantly reduced or eliminated for
approximately two-thirds of the
respondents.
Discussion of Proposed Revisions
A. Revisions to the FFIEC 030
The agencies propose to reduce
reporting burden by eliminating five
reporting items for branches with total
assets in excess of $250 million because
the aggregate amounts reported in these
items have declined substantially to a
nominal amount. The five items to be
eliminated are:
• Asset item 6.d, ‘‘Loans to foreign
governments and official institutions.’’
Amounts would be included in current
item 6.e, ‘‘Loans and lease financing
receivables: To all others.’’
• Asset item 7, ‘‘Customers’ liability
to this bank on acceptances
outstanding.’’ Amounts would be
included in current item 13, ‘‘Other
assets.’’
• Asset item 9, ‘‘Accrued interest
receivable.’’ Amounts would be
included in current item 13, ‘‘Other
assets.’’
• Liability item 19, ‘‘Bank’s liability
on acceptances executed and
outstanding.’’ Amounts would be
included in current item 24, ‘‘Other
liabilities.’’
• Liability item 20, ‘‘Accrued taxes
and other expenses.’’ Amounts would
be included in current item 24, ‘‘Other
liabilities.’’
The revisions to the FFIEC 030
reporting form are proposed to be
effective with the December 31, 2006,
reporting date.
B. Implementation of the FFIEC 030S
The agencies propose to create an
abbreviated or ‘‘short’’ report (FFIEC
030S) containing five items that
branches with total assets between $50
million and $250 million would file on
an annual basis in lieu of the FFIEC 030
form. The scope of the FFIEC 030S
would be comparable to a report filed
with the Federal Reserve by U.S.
banking organizations for their foreign
subsidiaries.2 The items proposed for
this report are considered the minimum
information needed to serve as
indicators of higher business volume,
risk, and complexity in small-sized
foreign branches. The reported
information would also be used to
monitor potential developments that
the number of branch respondents in each asset
category does not equal the actual number of
reports filed with the agencies.
2 Abbreviated Financial Statements of Foreign
Subsidiaries of U.S. Banking Organizations (FR
2314S; OMB No. 7100–0073), filed for subsidiaries
with assets between $50 million and $250 million.
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Federal Register / Vol. 71, No. 135 / Friday, July 14, 2006 / Notices
may pose risks to the overall operations
of the parent bank. The items proposed
for the FFIEC 030S are:
• Gross due from related institutions
(a combination of current FFIEC 030
asset items 11 and 12).
• Total assets (current FFIEC 030
asset item 14).
• Gross due to related institutions
(combination of current FFIEC 030
liability items 22 and 23).
• Total gross notional amount of
derivative contracts (combination of
current FFIEC 030 derivative items 26,
27, 28, and 31).
• Commercial and similar letters of
credit, standby letters of credit, and
foreign office guarantees (combination
of current FFIEC 030 off-balance sheet
items 29 and 30).
The FFIEC 030S reporting form is
proposed to be effective with the
December 31, 2006, reporting date.
Dated: June 27, 2006.
James Gillespie,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
Board of Governors of the Federal Reserve
System, July 10, 2006.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 7th day of
July, 2006.
Federal Deposit Insurance Corportation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06–6228 Filed 7–13–06; 8:45 am]
C. Exempt Entities
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire a bank or bank
holding company. The factors that are
considered in acting on the notices are
set forth in paragraph 7 of the Act (12
U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the office of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than July 28,
2006.
A. Federal Reserve Bank of San
Francisco (Tracy Basinger, Director,
Regional and Community Bank Group)
101 Market Street, San Francisco,
California 94105-1579:
1. The Banc Funds Company, L.L.C.,
Banc Fund V L.P, and Banc Fund VII
L.P., all of Chicago, Illinois; to acquire
voting shares of Valley Commerce
Bancorp, and thereby indirectly acquire
Valley Business Bank, both of Visalia,
California.
The agencies propose to exempt
foreign branches with total assets below
$50 million from both the FFIEC 030
and FFIEC 030S annual filing
requirements.
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Request for Comment
Comments are invited on:
a. Whether the information
collections are necessary for the
agencies’ duties and responsibilities,
including whether the information has
practical utility;
b. The accuracy of the agencies’
estimate of the burden of the
information collections, including the
validity of the methodology and
assumptions used;
c. Ways to enhance the quality,
utility, and clarity of the information to
be collected;
d. Ways to minimize the burden of the
information collections on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
e. Estimates of capital or start up costs
and costs of operation, maintenance,
and purchase of services to provide the
requested information.
Comments submitted in response to
this notice will be shared among the
agencies. All comments will become a
matter of public record. Written
comments should address the accuracy
of the burden estimates and ways to
minimize burden including the use of
automated collection techniques or the
use of other forms of information
technology as well as other relevant
aspects of the information collection
request.
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BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisition of Shares of Bank or Bank
Holding Companies
Board of Governors of the Federal Reserve
System, July 10, 2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6–11068 Filed 7–13–06; 8:45 am]
BILLING CODE 6210–01–S
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40121
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
website at 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 August 7, 2006.
A. Federal Reserve Bank of Chicago
(Patrick M. Wilder, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690-1414:
1. Pedcor Capital, LLC, Carmel,
Indiana; to become a bank holding
company by acquiring 100 percent of
the voting shares of Pedcor Bancorp,
Carmel, Indiana, and thereby indirectly
acquire voting shares of International
City Bank, N.A., Long Beach, California.
B. Federal Reserve Bank of Dallas
(W. Arthur Tribble, Vice President) 2200
North Pearl Street, Dallas, Texas 752012272:
1. Bryan Family Management Trust
and Bryan–Heritage Limited
Partnership, both of Bryan, Texas; to
acquire additional shares, up to 51
percent, of the voting shares of The First
National Bank of Bryan, Bryan, Texas.
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]]>Agencies
[Federal Register Volume 71, Number 135 (Friday, July 14, 2006)]
[Notices]
[Pages 40119-40121]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-6228]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
Proposed Agency Information Collection Activities; Comment
Request
AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); and Federal
Deposit Insurance Corporation (FDIC).
ACTION: Joint notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC
(the ``agencies'') may not conduct or sponsor, and the respondent is
not required to respond to, an information collection unless it
displays a currently valid Office of Management and Budget (OMB)
control number. The Federal Financial Institutions Examination Council
(FFIEC), of which the agencies are members, has approved the agencies'
publication for public comment of a proposal to extend, with revision
the Foreign Branch Report of Condition (FFIEC 030), which is a
currently approved information collection for each agency. At the end
of the comment period, the comments and recommendations received will
be analyzed to determine the extent to which the FFIEC should modify
the report. The agencies will then submit the report to OMB for review
and approval.
DATES: Comments must be submitted on or before September 12, 2006.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments, which should refer to the OMB
control number, will be shared among the agencies.
OCC: Communications Division, Office of the Comptroller of the
Currency, Public Information Room, Mailstop 1-5, Attention: 1557-0099,
250 E Street, SW., Washington, DC 20219. In addition, comments may be
sent by fax to 202-874-4448, or by electronic mail to
regs.comments@occ.treas.gov. You can inspect and photocopy the comments
at the OCC's Public Information Room, 250 E Street, SW., Washington, DC
20219. You can make an appointment to inspect the comments by calling
202-874-5043.
Board: You may submit comments, identified by FFIEC 030, by any of
the following methods:
Agency Web site: https://www.federalreserve.gov. Follow the
instructions for submitting comments on the https://
www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: 202-452-3819 or 202-452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at
https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical reasons. Accordingly, your
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper in Room MP-500 of the Board's Martin Building (20th and C
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.
FDIC: You may submit comments, which should refer to ``Foreign
Branch Report of Condition, 3064-0011,'' by any of the following
methods:
Agency Web site: https://www.FDIC.gov/regulations/laws/
federal/notices.html.
E-mail: comments@FDIC.gov. Include ``Foreign Branch Report
of Condition, 3064-0011'' in the subject line of the message.
Mail: Steven F. Hanft (202-898-3907), Paperwork Clearance
Officer, Room MB-3064, Federal Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
Hand Delivery: Comments may be hand delivered to the guard
station at the rear of the 550 17th Street Building
[[Page 40120]]
(located on F Street) on business days between 7 a.m. and 5 p.m.
Public Inspection: All comments received will be posted without
change to https://www.fdic.gov/regulations/laws/federal/notices/html
including any personal information provided. Comments may be inspected
at the FDIC Public Information Center, Room E-1002, 3502 North Fairfax
Drive, Arlington, VA 22226, between 9 a.m. and 5 p.m. on business days.
Additionally, commenters should send a copy of their comments to
the OMB Desk Officer for the Agencies by mail to the Office of
Information and Regulatory Affairs, U.S. 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.
FOR FURTHER INFORMATION CONTACT:
OCC: Mary Gottlieb, OCC Clearance Officer, or Camille Dickerson,
202-874-5090, Legislative and Regulatory Activities Division, Office of
the Comptroller of the Currency, 250 E Street, SW., Washington, DC
20219.
Board: Michelle Long, Federal Reserve Board Clearance Officer, 202-
452-3829, Division of Research and Statistics, Board of Governors of
the Federal Reserve System, 20th and C Streets, NW., Washington, DC
20551. Telecommunications Device for the Deaf (TDD) users may call 202-
263-4869, Board of Governors of the Federal Reserve System, 20th and C
Streets, NW., Washington, DC 20551.
FDIC: Steven F. Hanft, 202-898-3907, Room MB-3064, Legal Division,
Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Proposal to request approval from OMB of the
extension for three years, with revision, of the following currently
approved collections of information:
Report Title: Foreign Branch Report of Condition.
Form Numbers: FFIEC 030 and FFIEC 030S.
Frequency of Response: Annually, and quarterly for significant
branches.
Affected Public: Business or other for profit.
OCC
OMB Number: 1557-0099.
Estimated Number of Respondents: 118 annual branch respondents
(FFIEC 030); 73 quarterly branch respondents (FFIEC 030); 200 annual
branch respondents (FFIEC 030S).
Estimated Average Time Per Response: 3.4 burden hours (FFIEC 030);
0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden: 1,494 burden hours.
Board
OMB Number: 7100-0071.
Estimated Number of Respondents: 17 annual branch respondents
(FFIEC 030); 16 quarterly branch respondents (FFIEC 030); 24 annual
branch respondents (FFIEC 030S).
Estimated Average Time Per Response: 3.4 burden hours (FFIEC 030);
0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden: 288 burden hours.
FDIC
OMB Number: 3064-0011.
Estimated Number of Respondents: 6 annual respondents (FFIEC 030);
2 quarterly respondents (FFIEC 030); 7 annual respondents (FFIEC 030S).
Estimated Average Time Per Response: 3.4 burden hours (FFIEC 030);
0.5 burden hours (FFIEC 030S).
Estimated Total Annual Burden: 51 burden hours.
General Description of Reports
This information collection is mandatory: 12 U.S.C. 321, 324, and
602 (Board); 12 U.S.C. 602 (OCC); and 12 U.S.C. 1828 (FDIC). This
information collection is given confidential treatment (5 U.S.C.
552(b)(8)).
Abstract
The FFIEC 030 contains asset and liability information for foreign
branches of insured U.S. commercial banks and state-chartered savings
banks and is required for regulatory and supervisory purposes. The
information is used to analyze the foreign operations of U.S. banks.
All foreign branches of U.S. banks regardless of charter type file this
report with the appropriate Federal Reserve District Bank. The Federal
Reserve collects this information on behalf of the U.S. bank's primary
federal bank regulatory agency.
Current Actions
To reduce respondent burden, the agencies propose to eliminate five
reporting items for branches with total assets in excess of $250
million, create a short form (FFIEC 030S) containing five items to be
filed annually by branches with total assets of between $50 million and
$250 million (in lieu of filing the entire FFIEC 030 form), and
eliminate the filing requirement for branches with less than $50
million in total assets. Of the current number of 689 branch
respondents, 231 branch respondents have total assets of between $50
million and $250 million and 226 respondents have less than $50 million
in total assets.\1\ Thus, under this proposal reporting burden would be
significantly reduced or eliminated for approximately two-thirds of the
respondents.
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\1\ Respondents are permitted to report branches in a single
country on a consolidated basis. Therefore, the number of branch
respondents in each asset category does not equal the actual number
of reports filed with the agencies.
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Discussion of Proposed Revisions
A. Revisions to the FFIEC 030
The agencies propose to reduce reporting burden by eliminating five
reporting items for branches with total assets in excess of $250
million because the aggregate amounts reported in these items have
declined substantially to a nominal amount. The five items to be
eliminated are:
Asset item 6.d, ``Loans to foreign governments and
official institutions.'' Amounts would be included in current item 6.e,
``Loans and lease financing receivables: To all others.''
Asset item 7, ``Customers' liability to this bank on
acceptances outstanding.'' Amounts would be included in current item
13, ``Other assets.''
Asset item 9, ``Accrued interest receivable.'' Amounts
would be included in current item 13, ``Other assets.''
Liability item 19, ``Bank's liability on acceptances
executed and outstanding.'' Amounts would be included in current item
24, ``Other liabilities.''
Liability item 20, ``Accrued taxes and other expenses.''
Amounts would be included in current item 24, ``Other liabilities.''
The revisions to the FFIEC 030 reporting form are proposed to be
effective with the December 31, 2006, reporting date.
B. Implementation of the FFIEC 030S
The agencies propose to create an abbreviated or ``short'' report
(FFIEC 030S) containing five items that branches with total assets
between $50 million and $250 million would file on an annual basis in
lieu of the FFIEC 030 form. The scope of the FFIEC 030S would be
comparable to a report filed with the Federal Reserve by U.S. banking
organizations for their foreign subsidiaries.\2\ The items proposed for
this report are considered the minimum information needed to serve as
indicators of higher business volume, risk, and complexity in small-
sized foreign branches. The reported information would also be used to
monitor potential developments that
[[Page 40121]]
may pose risks to the overall operations of the parent bank. The items
proposed for the FFIEC 030S are:
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\2\ Abbreviated Financial Statements of Foreign Subsidiaries of
U.S. Banking Organizations (FR 2314S; OMB No. 7100-0073), filed for
subsidiaries with assets between $50 million and $250 million.
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Gross due from related institutions (a combination of
current FFIEC 030 asset items 11 and 12).
Total assets (current FFIEC 030 asset item 14).
Gross due to related institutions (combination of current
FFIEC 030 liability items 22 and 23).
Total gross notional amount of derivative contracts
(combination of current FFIEC 030 derivative items 26, 27, 28, and 31).
Commercial and similar letters of credit, standby letters
of credit, and foreign office guarantees (combination of current FFIEC
030 off-balance sheet items 29 and 30).
The FFIEC 030S reporting form is proposed to be effective with the
December 31, 2006, reporting date.
C. Exempt Entities
The agencies propose to exempt foreign branches with total assets
below $50 million from both the FFIEC 030 and FFIEC 030S annual filing
requirements.
Request for Comment
Comments are invited on:
a. Whether the information collections are necessary for the
agencies' duties and responsibilities, including whether the
information has practical utility;
b. The accuracy of the agencies' estimate of the burden of the
information collections, including the validity of the methodology and
assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of the information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide the requested
information.
Comments submitted in response to this notice will be shared among
the agencies. All comments will become a matter of public record.
Written comments should address the accuracy of the burden estimates
and ways to minimize burden including the use of automated collection
techniques or the use of other forms of information technology as well
as other relevant aspects of the information collection request.
Dated: June 27, 2006.
James Gillespie,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
Board of Governors of the Federal Reserve System, July 10, 2006.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 7th day of July, 2006.
Federal Deposit Insurance Corportation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06-6228 Filed 7-13-06; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P
