Sunshine Act Meeting; Notice of Agency Meeting, 59112 [06-8544]
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Federal Register / Vol. 71, No. 194 / Friday, October 6, 2006 / Notices
the FFIEC 030 have been approved by
the FFIEC as originally proposed and
are summarized below. The agencies
will implement the changes as of the
December 31, 2006, reporting date.
Listing of Revisions
cprice-sewell on PROD1PC66 with NOTICES
A. Revisions to the FFIEC 030
The agencies will 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 being
eliminated are:
• Asset item 6.d, ‘‘Loans to foreign
governments and official institutions.’’
Amounts will 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 will be included
in current item 13, ‘‘Other assets.’’
• Asset item 9, ‘‘Accrued interest
receivable.’’ Amounts will be included
in current item 13, ‘‘Other assets.’’
• Liability item 19, ‘‘Bank’s liability
on acceptances executed and
outstanding.’’ Amounts will be included
in current item 24, ‘‘Other liabilities.’’
• Liability item 20, ‘‘Accrued taxes
and other expenses.’’ Amounts will be
included in current item 24, ‘‘Other
liabilities.’’
B. Implementation of the FFIEC 030S
The agencies are creating an
abbreviated or ‘‘short’’ report (FFIEC
030S) containing five items that
branches with total assets between $50
million and $250 million will file on an
annual basis in lieu of the FFIEC 030
form. The scope of the FFIEC 030S is
comparable to a report filed with the
Federal Reserve by U.S. banking
organizations for their foreign
subsidiaries.1 The items 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 will also be used to monitor
potential developments that may pose
risks to the overall operations of the
parent bank. The items 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)
1 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.
VerDate Aug<31>2005
14:52 Oct 05, 2006
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• Gross due to related institutions (a
combination of current FFIEC 030
liability items 22 and 23)
• Total gross notional amount of
derivative contracts (a 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 (a combination
of current FFIEC 030 off-balance sheet
items 29 and 30)
C. Exempt Entities
The agencies will 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’
estimates 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: September 29, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory
Activities Division.
Board of Governors of the Federal Reserve
System, October 2, 2006.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 27th day of
September, 2006.
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Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06–8529 Filed 10–5–06; 8:45 am]
BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Sunshine Act Meeting; Notice of
Agency Meeting
Pursuant to the provisions of the
‘‘Government in the Sunshine Act’’ (5
U.S.C. 552b), notice is hereby given that
the Federal Deposit Insurance
Corporation’s Board of Directors will
meet in open session at 10 a.m. on
Tuesday, October 10, 2006, to consider
the following matters:
No substantive
discussion of the following items is
anticipated. These matters will be
resolved with a single vote unless a
member of the Board of Directors
requests that an item be moved to the
discussion agenda.
SUMMARY AGENDA:
Disposition of minutes of previous
Board of Directors’ meetings.
Summary reports, status reports, and
reports of actions taken pursuant to
authority delegated by the Board of
Directors.
DISCUSSION AGENDA:
Memorandum and resolution re: Final
Rule to Implement the One-Time
Assessment Credit.
Memorandum and resolution re: Final
Rule to Implement Assessment
Dividend Requirements.
The meeting will be held in the Board
Room on the sixth floor of the FDIC
Building located at 550-17th Street,
NW., Washington, DC.
The FDIC will provide attendees with
auxiliary aids (e.g., sign language
interpretation) required for this meeting.
Those attendees needing such assistance
should call (703) 562–6067 (Voice or
TTY), to make necessary arrangements.
Requests for further information
concerning the meeting may be directed
to Mr. Robert E. Feldman, Executive
Secretary of the Corporation, at (202)
898–7122.
Dated: October 3, 2006.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06–8544 Filed 10–3–06; 4:19 pm]
BILLING CODE 6714–01–M
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[Federal Register Volume 71, Number 194 (Friday, October 6, 2006)]
[Notices]
[Page 59112]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-8544]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Sunshine Act Meeting; Notice of Agency Meeting
Pursuant to the provisions of the ``Government in the Sunshine
Act'' (5 U.S.C. 552b), notice is hereby given that the Federal Deposit
Insurance Corporation's Board of Directors will meet in open session at
10 a.m. on Tuesday, October 10, 2006, to consider the following
matters:
SUMMARY AGENDA: No substantive discussion of the following items is
anticipated. These matters will be resolved with a single vote unless a
member of the Board of Directors requests that an item be moved to the
discussion agenda.
Disposition of minutes of previous Board of Directors' meetings.
Summary reports, status reports, and reports of actions taken pursuant
to authority delegated by the Board of Directors.
DISCUSSION AGENDA:
Memorandum and resolution re: Final Rule to Implement the One-Time
Assessment Credit.
Memorandum and resolution re: Final Rule to Implement Assessment
Dividend Requirements.
The meeting will be held in the Board Room on the sixth floor of
the FDIC Building located at 550-17th Street, NW., Washington, DC.
The FDIC will provide attendees with auxiliary aids (e.g., sign
language interpretation) required for this meeting. Those attendees
needing such assistance should call (703) 562-6067 (Voice or TTY), to
make necessary arrangements.
Requests for further information concerning the meeting may be
directed to Mr. Robert E. Feldman, Executive Secretary of the
Corporation, at (202) 898-7122.
Dated: October 3, 2006.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 06-8544 Filed 10-3-06; 4:19 pm]
BILLING CODE 6714-01-M
