Proposed Agency Information Collection Activities; Comment Request, 76027-76031 [E8-29563]
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Federal Register / Vol. 73, No. 241 / Monday, December 15, 2008 / Notices
ENVIRONMENTAL PROTECTION
AGENCY
[FRL–8752–1]
Clean Air Act Advisory Committee
(CAAAC): Notice of Meeting
AGENCY: Environmental Protection
Agency.
ACTION: Notice of Meeting.
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SUMMARY: The Environmental Protection
Agency (EPA) established the Clean Air
Act Advisory Committee (CAAAC) on
November 19, 1990, to provide
independent advice and counsel to EPA
on policy issues associated with
implementation of the Clean Air Act of
1990. The Committee advises on
economic, environmental, technical,
scientific, and enforcement policy
issues.
DATES & ADDRESSES: Open meeting
notice; Pursuant to 5 U.S.C. App. 2
Section 10(a)(2), notice is hereby given
that the Clean Air Act Advisory
Committee will hold its next open
meeting on Thursday January 8, 2009
from 8:30 a.m. to 4 p.m. at the Double
Tree Hotel at 300 Army Navy Drive, in
Arlington, Virginia. Seating will be
available on a first come, first served
basis. The Permits, New Source Review
and Toxics subcommittee will meet on
January 7, 2009 from 8:30 a.m. to 12
p.m. The Economic Incentives and
Regulatory Innovations subcommittee
and Visions and Goals Work Group will
meet jointly on January 7, 2009 from
approximately 12:45 p.m. to 4:30 p.m.
The agenda for the CAAAC full
committee meeting on January 8, 2009
will be posted on the Clean Air Act
Advisory Committee Web site at
https://www.epa.gov/oar/caaac/.
Inspection of Committee Documents:
The Committee agenda and any
documents prepared for the meeting
will be publicly available at the
meeting. Thereafter, these documents,
together with CAAAC meeting minutes,
will be available by contacting the
Office of Air and Radiation Docket and
requesting information under docket
OAR–2004–0075. The Docket office can
be reached by e-mail at: a-and-rDocket@epa.gov or Fax: 202–566–9744.
FOR FURTHER INFORMATION CONTACT:
Concerning the CAAAC, please contact
Pat Childers, Office of Air and
Radiation, U.S. EPA (202) 564–1082,
FAX (202) 564–1352 or by mail at U.S.
EPA, Office of Air and Radiation (Mail
code 6102 A), 1200 Pennsylvania
Avenue, NW., Washington, DC 20004.
For information on the Subcommittees,
please contact the following
individuals: (1) Permits/NSR/Toxics
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Integration—Liz Naess, (919) 541–1892;
and (2) Economic Incentives and
Regulatory Innovations—Carey
Fitzmaurice, (202)564–1667 (3) Mobile
Source Technical Review—John Guy,
(202) 343–9276 Additional Information
on these meetings, CAAAC, and its
Subcommittees can be found on the
CAAAC Web site: https://www.epa.gov/
oar/caaac/.
For information on access or services
for individuals with disabilities, please
contact Mr. Pat Childers at (202) 564–
1082 or childers.pat@epa.gov. To
request accommodation of a disability,
please contact Mr. Childers, preferably
at least 10 days prior to the meeting, to
give EPA as much time as possible to
process your request.
Dated: December 9, 2008.
Pat Childers,
Designated Federal Official, Clean Air Act
Advisory Committee, Office of Air and
Radiation.
[FR Doc. E8–29646 Filed 12–12–08; 8:45 am]
BILLING CODE 6560–50–P
FEDERAL ELECTION COMMISSION
Sunshine Act Notices
Federal Election Commission.
Tuesday, December 16,
2008 at 10 a.m.
PLACE: 999 E Street, NW., Washington,
DC.
STATUS: This meeting will be closed to
the public.
ITEMS TO BE DISCUSSED: Compliance
matters pursuant to 2 U.S.C. 437g.
Audits conducted pursuant to 2
U.S.C. 437g, 438(b), and Title 26, U.S.C.
Matters concerning participation in civil
actions or proceedings or arbitration.
Internal personnel rules and procedures
or matters affecting a particular
employee.
PERSON TO CONTACT FOR INFORMATION:
Mr. Robert Biersack, Press Officer.
Telephone: (202) 694–1220.
AGENCY:
DATE AND TIME:
Mary W. Dove,
Secretary of the Commission.
[FR Doc. E8–29518 Filed 12–12–08; 8:45 am]
BILLING CODE 6715–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
AGENCY: Board of Governors of the
Federal Reserve System.
SUMMARY: Background. On June 15,
1984, the Office of Management and
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Budget (OMB) delegated to the Board of
Governors of the Federal Reserve
System (Board) its approval authority
under the Paperwork Reduction Act
(PRA), 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 part 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 Paperwork Reduction Act
Submission, 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.
Request for Comment on Information
Collection Proposal
The following information collection,
which is being handled under this
delegated authority, has received initial
Board approval and is hereby published
for comment. At the end of the comment
period, the proposed information
collection, along with an analysis of
comments and recommendations
received, will be submitted to the Board
for final approval under OMB delegated
authority. Comments are invited on the
following:
a. Whether the proposed collection of
information is necessary for the proper
performance of the Federal Reserve’s
functions; including whether the
information has practical utility;
b. The accuracy of the Federal
Reserve’s estimate of the burden of the
proposed information collection,
including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality,
utility, and clarity of the information to
be collected; and
d. Ways to minimize the burden of
information collection on respondents,
including the use of automated
collection techniques or other forms of
information technology.
DATES: Comments must be submitted on
or before February 13, 2009.
ADDRESSES: You may submit comments,
identified by FR 2644 (OMB No. 7100–
0075) by any of the following methods:
• Agency Web Site:
www.federalreserve.gov. Follow the
instructions for submitting comments at
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm.
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Federal Register / Vol. 73, No. 241 / Monday, December 15, 2008 / Notices
• Federal eRulemaking Portal:
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include the OMB control 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
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.
Additionally, those providing
comments should send a copy by mail
to the OMB Desk Officer at 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: A
copy of the PRA OMB submission,
including the proposed reporting form
and instructions, supporting statement,
and other documents, will be placed
into OMB’s public docket files once
approved. These documents will also be
made available on the Federal Reserve
Board’s public Web site at:
www.federalreserve.gov/boarddocs/
reportforms/review.cfm or may be
requested from the agency clearance
officer, whose name appears below.
Michelle Shore, Federal Reserve
Board Clearance Officer (202–452–
3829), Division of Research and
Statistics, Board of Governors of the
Federal Reserve System, Washington,
DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact
(202–263–4869), Board of Governors of
the Federal Reserve System,
Washington, DC 20551.
Proposal to approve under OMB
delegated authority the extension for
three years, with revision, of the
following report:
Report title: Weekly Report of
Selected Assets and Liabilities of
Domestically Chartered Commercial
Banks and U.S. Branches and Agencies
of Foreign Banks.
Agency form numbers: FR 2644.
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OMB control number: 7100–0075.
Frequency: Weekly.
Reporters: Domestically chartered
commercial banks and U.S. branches
and agencies of foreign banks.
Annual reporting hours: 120,575
hours.
Estimated average hours per response:
2.65 hours.
Number of respondents: 875.
General description of reports: The FR
2644 is authorized by section 2A and
11(a)(2) of the Federal Reserve Act [12
U.S.C. 225(a) and 248(a)(2)] and by
section 7(c)(2) of the International
Banking Act [12 U.S.C. 3105(c)(2)] and
is voluntary. Individual respondent data
are regarded as confidential under the
Freedom of Information Act [5 U.S.C.
552(b)(4)].
Abstract: The Weekly Report of Assets
and Liabilities for Large U.S. Branches
and Agencies of Foreign Banks (FR
2069; OMB No. 7100–0030), the Weekly
Report of Assets and Liabilities for Large
Banks (FR 2416; OMB No. 7100–0075),
and the Weekly Report of Selected
Assets (FR 2644; OMB No. 7100–0075)
are referred to collectively as the bank
credit reports. These three voluntary
reports have been the primary source of
high-frequency data used in the analysis
of current banking developments. The
FR 2416 data are used on a stand-alone
basis to construct the large domestically
chartered bank series. The other two
reports collect sample data that are used
to estimate universe levels using data
from the quarterly commercial bank
Consolidated Reports of Condition and
Income (FFIEC 031 and 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 bank credit reports,
together with data from other sources,
are used to construct weekly estimates
of bank credit, balance sheet data for the
U.S. banking industry, sources and uses
of banks’ funds, and to analyze banking
developments.
The Federal Reserve publishes the
data in aggregate form in the weekly H.8
statistical release, Assets and Liabilities
of Commercial Banks in the United
States, which is followed closely by
other government agencies, the banking
industry, the financial press, and other
users. This release provides a balance
sheet for the banking industry as a
whole and data disaggregated by its
large domestically chartered, small
domestically chartered, and foreignrelated components.
Current actions: The Federal Reserve
proposes to combine the three bank
credit reporting forms into one reporting
form, the proposed Weekly Report of
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Selected Assets and Liabilities of
Domestically Chartered Commercial
Banks and U.S. Branches and Agencies
of Foreign Banks (FR 2644; OMB No.
7100–0075). This report would be
collected from an authorized stratified
sample of 875 domestically chartered
commercial banks and U.S. branches
and agencies of foreign banks. The new
panel would be significantly smaller
than the authorized sample of 1,220
respondents for the current family of
reports. The proposed FR 2644 report
would be filed by each institution
selected for the reporting panel,
regardless of its asset size or charter
type, and would consist of 34 data
items. Improvements to the reporting
scheme would include increasing
flexibility in analyzing weekly reported
bank balance sheet data, adapting the
report to fair value accounting as
prescribed under the Financial
Accounting Standards Board (FASB)
Statement of Financial Acounting
Standards No. 159, The Fair Value
Option for Financial Assets and
Financial Liabilities (FAS 159),
improving the data detail on securities,
and eliminating data items that are no
longer needed at a weekly frequency.
The first report for the proposed FR
2644 would be as of July 1, 2009.
Proposed Discontinuance of the FR
2416 and the FR 2069: The current FR
2416 and FR 2069 reporting forms
would be discontinued. The current
reporting panels for these reporting
forms would be shifted to the proposed
FR 2644 reporting panel and notified
that either the FR 2416 or FR 2069
reporting form had been replaced with
the proposed FR 2644 reporting form.
Proposed Revisions to the FR 2644:
The new single reporting form would be
filed by all selected weekly reporters of
bank credit data (large domestically
chartered commercial banks, small
domestically chartered commercial
banks, and U.S. branches and agencies
of foreign banks). The Federal Reserve
anticipates that having all reporters use
the same reporting form would remove
the report-related constraints that make
it difficult to analyze bank behavior
without significantly reducing the
accuracy of the resulting bank credit
aggregates.
In addition to combining the reporting
panels, the Federal Reserve proposes to:
• Adapt this family of reports to fair
value accounting by asking banks to
include loans and securities held in
trading accounts in the appropriate loan
or security component,
• Include data items on securities by
issuer and type of security instead of by
account type (investment account
versus trading account),
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• Include more detail on mortgagebacked securities (broken out by issuer
and collected from all banks),
• Include more data item detail for
small domestically chartered banks and
U.S. branches and agencies of foreign
banks, and
• Delete 10 data items, on net,
currently collected on the FR 2416
reporting form that are no longer needed
on a weekly basis.
The proposed FR 2644 reporting form
would consist of 34 data items, an
increase of 13 data items over the
current FR 2644 reporting form. The 13
additional data items are:
• Cash and balances due from
depository institutions,
• Mortgage-backed securities reported
by issuer (U.S. Treasury and agency and
other),
• Federal funds sold and reverse
repurchase agreements reported by
counterparty (commercial banks and
others),
• Allowance for loan and lease losses,
• Trading assets,
• Derivatives with a positive fair
value,
• All other assets (a residual),
• Total deposits,
• Time deposits of $100,000 or more,
• Trading liabilities,
• Derivatives with a negative fair
value,
• All other liabilities (a residual), and
• Net unrealized gains (losses) on
available-for-sale securities.
The proposed additions include
several data items that are currently
collected from large domestically
chartered banks on the FR 2416 and
from U.S. branches and agencies of
foreign banks on the FR 2069. For the
proposed FR 2644, the Federal Reserve
revised the methodology for
determining the estimated average hours
per response based on the weighted
average of data items submitted with
values greater than zero. Since many
smaller current FR 2644 reporters have
zero balances on their Call Reports for
some of the proposed items, these
reporters would not be expected to
incur large increases in reporting
burden under this proposal.
The following is a discussion of each
data item that would be collected on the
proposed FR 2644 reporting form.
1. Cash and balances due from
depository institutions. The proposed
FR 2644 reporting form would include
a new data item, Cash and balances due
from depository institutions, because
these data would provide a useful
measure of banks’ liquidity positions.
This data item is included on the
current FR 2416 and FR 2069 reporting
forms.
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2. Securities (including securities
reported as trading assets on the Call
Report). As on the current FR 2644
reporting form, the securities data on
the proposed FR 2644 reporting form
would include securities held for both
investment and trading purposes.
Domestically chartered banks that do
not report data on Call Report Schedule
RC–D would continue to omit trading
assets from the securities items on the
proposed FR 2644 reporting form. These
reporters would include all trading
assets in new data item 5, Trading
assets, other than loans and securities
included above. In addition, the
securities data items on the proposed
reporting form would continue to be
broken down by type of issuer, i.e., U.S.
Treasury securities and U.S.
Government agency obligations and
Other securities. However, withinissuer, data would be further subdivided
by type of security, i.e., Mortgagebacked securities and Other.
The increased detail on mortgagebacked securities is needed in order to
better analyze banks’ investment
strategies and their exposure to
mortgage-backed securities. Both the FR
2416 and FR 2644 reporting forms
collect data on mortgage-backed
securities in investment accounts only.
The FR 2416 reporting form includes
these data items broken out by Passthrough securities and Collateralized
Mortgage Obligations and Real Estate
Mortgage Investment Conduits. The FR
2069 reporting form does not collect any
data on mortgage-backed securities.
Under the proposed single reporting
form, data on all mortgage-backed
securities (whether held in investment
or trading accounts) would be collected
from all institutions.
The Federal Reserve proposes to
continue collecting the securities items
inclusive of securities held as trading
assets and to implement the proper
classification of other trading assets in
order to accurately measure bank credit.
Currently, FR 2416 and FR 2069
respondents report all trading assets,
including loans and other non-security
items held as trading assets, in data item
2, Trading assets, and FR 2644
respondents report trading assets in
either data item 1, U.S. Treasury
securities and U.S. Government agency
obligations, data item 2, Other
securities, or data item 5, Total assets.
On the proposed FR 2644 reporting
form, trading assets would be reported
in the appropriate security or loan
component (data item 2 or 4,
respectively) or be included in data item
5, Trading assets, other than securities
and loans included above.
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3. Federal funds sold and securities
purchased under agreements to resell.
The proposed FR 2644 reporting form
would break out this data item by
counterparty, i.e., With commercial
banks in the U.S. (including U.S.
branches and agencies of foreign banks)
and With others (including nonbank
brokers and dealers in securities and
Federal Home Loan Bank). The detail is
needed to construct bank credit, which
excludes federal funds sold to and
reverse repurchase agreements with
banks. The FR 2416 and FR 2069
reporting forms include this detail and
also include Federal funds sold and
securities purchased under agreements
to resell with nonbank brokers and
dealers in securities.
4. Loans and leases (including loans
reported as trading assets on the Call
Report). The proposed FR 2644
reporting form would include the
components of core loans (real estate,
commercial and industrial, and
consumer loans) at the existing level of
detail, but each component would be
redefined to include loans held for
trading purposes. Core loans form the
bulk of bank credit and are studied
closely by the Federal Reserve.
The proposed FR 2644 reporting form
would redefine each loan item to
include loans measured at fair value and
reported as trading assets on Call Report
Schedule RC–D (for domestically
chartered banks) or on Schedule RAL
(for U.S. branches and agencies of
foreign banks). This inclusion should
not prove burdensome for most banks
since most do not book loans in their
trading accounts. Nonetheless, some
large banks have taken up this practice,
so including loans held as trading assets
in the loan items is necessary to
accurately measure bank credit. If a
domestically chartered bank does not
report data on Schedule RC–D of the
Call Report but holds loans as trading
assets, it would include those loans in
data item 5, Trading assets, other than
securities and loans included above.
The data item 4.b, Loans to, and
acceptances of, commercial banks in the
U.S. (including U.S. branches and
agencies of foreign banks) would
continue to be included as a separate
data item, since interbank loans are
excluded from bank credit. Data item
4.e, All other loans and leases, would be
included to construct total loans and
leases. The FR 2416 and FR 2069
include the data item, Loans for
purchasing or carrying securities. The
FR 2416 includes the data item, Lease
financing receivables (net of unearned
income). The proposed FR 2644 report
would include these data items in All
other loans and leases.
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The proposed FR 2644 would define
all loan components net of unearned
income. The FR 2416 reporting form
includes the data item Unearned
income, if any, included in items
(above). Under the proposed FR 2644
reporting form, this data item would not
be reported separately, since all loan
items would be reported net of
unearned income.
The proposed FR 2644 would include
new data item 4.f, Allowance for loan
and lease losses. The FR 2416 reporting
form includes this data item; however,
the FR 2069 reporting form does not.
This data item has grown dramatically
over the past year, reflecting losses in
the troubled credit markets, and is
needed to aid the Federal Reserve in
monitoring the health of banks’ loan
portfolios.
5. Trading assets, other than
securities and loans included above.
The proposed FR 2644 reporting form
would include two new data items:
Trading assets, other than securities and
loans included above (which includes
derivatives, gold bullion, and other
trading assets) and its subcomponent,
data item 5.a, Derivatives with a
positive fair value (included in item 5
above). The FR 2416 and FR 2069
include the identical data item,
Derivatives with a positive fair value
held for trading purposes. Domestically
chartered commercial banks that do not
report on Schedule RC–D of the Call
Report would report total trading assets
in data item 5, Trading assets, other
than securities and loans included
above, and would not report any
balances in data item 5.a. These data
items are needed to monitor trading
assets and to better understand how
interest rates and market valuations
affect the fair value of derivatives.
6. Other assets. Net due from related
foreign offices (if FFIEC 002 respondent,
include head office and other related
depository institutions in the U.S.)
would be reported on the proposed FR
2644 because it is used in the
construction of managed liabilities, an
aggregate that is tracked by the Federal
Reserve in order to understand the
composition of banks’ marginal funding
sources over time. The FR 2416 and FR
2644 include this data item as Net due
from own foreign offices, Edge and
agreement subsidiaries, and IBFs. The
FR 2069 includes this data item as Net
due from head office and other related
depository institutions in the U.S. and
in foreign countries. The new data item
6.b, All other assets, is needed to
complete the asset side of the balance
sheet, thereby avoiding measurement
problems inherent in collecting a partial
balance sheet. All other assets includes
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premises and fixed assets, other real
estate owned, investments in
unconsolidated subsidiaries and
associated companies, intangible assets
(including goodwill), derivatives with a
positive fair value held for purposes
other than trading, and all remaining
assets.
7. Total assets. This data item is
reported net of any allowance for loan
and lease losses. It equals the sum of
data items 1 through 4.e, 5, 6.a, and 6.b
minus data item 4.f. To avoid double
counting, data item 5.a, Derivatives with
a positive fair value (included in item 5
above), is ignored when constructing
total assets.
8. Total deposits. The proposed FR
2644 would include the new data item
8, Total deposits, because it is a major
component of the liabilities side of the
balance sheet. The FR 2416 includes the
data items Transaction accounts and
Nontransaction accounts. The FR 2069
includes the data items Transaction
accounts and credit balances and
Nontransaction accounts. The proposed
FR 2644 would also include data item
8.a, Time deposits of $100,000 or more
(included in item 8 above), because it is
an important component of managed
liabilities. The Federal Reserve may
adjust the cutoff for large time deposits
if and when the definition of large time
deposits changes on the Call Reports.
9. Borrowings. The proposed FR 2644
would include borrowings by
counterparty, i.e., From commercial
banks in the U.S. (including U.S.
branches and agencies of foreign banks)
and From others (including FRB and
FHLB). These borrowings items are
included on the current FR 2416, FR
2644, and FR 2069 reporting forms and
are needed in order to construct
managed liabilities.
10. Trading liabilities. The proposed
FR 2644 would include two new data
items: Trading liabilities and its
subcomponent, data item 10.a,
Derivatives with a negative fair value.
The FR 2416 and FR 2069 include the
identical data items. Domestically
chartered commercial banks that do not
report on Schedule RC–D of the Call
Report would report total trading
liabilities in data item 10, Trading
liabilities, and would not report any
balances in data item 10.a. These data
items are needed to construct banks’
liability for short positions, which is a
component of managed liabilities.
11. Other liabilities. Net due to related
foreign offices (if FFIEC 002 respondent,
include head office and other related
depository institutions in the U.S.)
would be included on the proposed FR
2644 because it is used to construct
managed liabilities. The FR 2416 and FR
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2644 include this data item as Net due
to own foreign offices, Edge and
agreement subsidiaries, and IBFs. The
FR 2069 reporting form includes this
data item as Net due to head office and
other related depository institutions in
the U.S. and in foreign countries. The
new data item, All other liabilities
(including subordinated notes and
debentures), is needed to complete the
liabilities side of the balance sheet,
thereby avoiding measurement
problems inherent in collecting a partial
balance sheet. In addition to
subordinated notes and debentures, All
other liabilities includes net deferred
tax liabilities, interest and other
expenses accrued and unpaid, and
derivatives with a negative fair value
held for purposes other than trading.
12. Total liabilities. This data item is
the sum of data items 8, 9.a, 9.b, 10,
11.a, and 11.b (that is, the sum of data
items 8 through 11 excluding items 8.a
and 10.a, to avoid double counting).
M.1. Net unrealized gains (losses) on
available-for-sale securities. The
proposed FR 2644 would include this
new data item to better understand how
interest rates and market valuations
affect the fair value of available-for-sale
securities. The FR 2416 includes this
data item while the FR 2069 reporting
form does not.
M.2. Outstanding principal balance of
assets sold and securitized by the
reporting bank with servicing retained
or with recourse or other seller-provided
credit enhancements. The proposed FR
2644 would collect data for
memorandum item M.2.a, Real estate
loans, memorandum item M.2.b, Credit
card receivables and other revolving
credit plans, and memorandum item
M.2.c, Other consumer loans. These
data items are currently included on the
FR 2416 and FR 2644. The data items,
Credit cards and related plans and Other
consumer loans, were added to the FR
2416 and FR 2644 in June 2000 to
replace items previously included on
the (discontinued) monthly Commercial
Bank Survey of Consumer Credit (FR
2571; OMB No. 7100–0080). These data
items are published on the monthly
G.19 release, Consumer Credit. The data
item Real estate loans was added to the
FR 2416 and FR 2644 reporting forms in
July 2007 to improve the Federal
Reserve’s understanding of residential
real estate loan originations. These data
items are needed to aid the Federal
Reserve’s interpretation of credit flows
even though they are reported by
relatively few institutions.
Instructions: The instructions would
be revised and clarified in accordance
with changes made to the FR 2644
reporting form.
E:\FR\FM\15DEN1.SGM
15DEN1
Federal Register / Vol. 73, No. 241 / Monday, December 15, 2008 / Notices
Proposal To Approve Under OMB
Delegated Authority the Discontinuance
of the Following Reports:
Report title: The Weekly Report of
Assets and Liabilities for Large U.S.
Branches and Agencies of Foreign
Banks; the Weekly Report of Assets and
Liabilities for Large Banks.
Agency Form Numbers: FR 2069; FR
2416.
OMB Control Number: 7100–0030;
7100–0075.
Frequency: Weekly.
Reporters: U.S. branches and agencies
of foreign banks; Domestically chartered
commercial banks.
Annual Reporting Hours: 14,560
hours; 22,386 hours.
Estimated Average Hours per
Response: 4.00 hours; 8.61 hours.
Number of Respondents: 70; 50.
Current actions: If the proposal to
revise the FR 2644 is approved, then the
current FR 2416 and FR 2069 reporting
forms would be discontinued. The
current reporting panels for these
reporting forms would be shifted to the
proposed FR 2644 reporting panel and
notified that either the FR 2416 or FR
2069 reporting form had been replaced
with the proposed FR 2644 reporting
form.
30618, May 28, 2008. No comments
were received. This OMB clearance
expires on January 31, 2009.
Public comments are particularly
invited on: Whether this collection of
information is necessary and whether it
will have practical utility; whether our
estimate of the public burden of this
collection of information is accurate,
and based on valid assumptions and
methodology; ways to enhance the
quality, utility, and clarity of the
information to be collected.
Dated: December 9, 2008.
Al Matera,
Director, Office of Acquisition Policy.
[FR Doc. E8–29629 Filed 12–12–08; 8:45 am]
DATES: Submit comments on or before:
January 14, 2009.
Seeking To Evaluate Commercial
Products, or Products in Development,
for In Vitro Serological Diagnosis of
Pertussis
FOR FURTHER INFORMATION CONTACT: Ms.
Jeritta Parnell, Procurement Analyst,
Contract Policy Division, at telephone
(202) 501–4082 or via e-mail to
jeritta.parnell@gsa.gov.
Board of Governors of the Federal Reserve
System, December 10, 2008.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E8–29563 Filed 12–12–08; 8:45 am]
Submit comments regarding
this burden estimate or any other aspect
of this collection of information,
including suggestions for reducing this
burden to Ms. Jasmeet Seehra, GSA
Desk Officer, OMB, Room 10236, NEOB,
Washington, DC 20503, and a copy to
the Regulatory Secretariat (VPR),
General Services Administration, Room
4041, 1800 F Street, NW., Washington,
DC 20405. Please cite OMB Control No.
3090–0027, Contract Administration,
Quality Assurance (GSAR Parts 542 and
546; GSA Form 1678, and GSA Form
308), in all correspondence.
BILLING CODE 6210–01–P
SUPPLEMENTARY INFORMATION:
ADDRESSES:
A. Purpose
GENERAL SERVICES
ADMINISTRATION
Under certain contracts, because of
reliance on contractor inspection in lieu
of Government inspection, GSA’s
Federal Acquisition Service (FAS)
requires documentation from its
contractors to effectively monitor
contractor performance and ensure that
it will be able to take timely action
should that performance be deficient.
[OMB Control No. 3090–0027]
General Services Administration
Acquisition Regulation; Information
Collection; Contract Administration,
Quality Assurance (GSAR Parts 542
and 546; GSA Form 1678, and GSA
Form 308)
Office of the Chief Acquisition
Officer, GSA.
ACTION: Notice of request for comments
regarding a renewal to an existing OMB
clearance.
pwalker on PROD1PC71 with NOTICES
AGENCY:
SUMMARY: Under the provisions of the
Paperwork Reduction Act of 1995 (44
U.S.C. Chapter 35), the General Services
Administration has submitted to the
Office of Management and Budget
(OMB) a request to review and approve
an extension of a currently approved
information collection requirement
regarding contract administration, and
quality assurance. A request for public
comments was published at 73 FR
VerDate Aug<31>2005
20:00 Dec 12, 2008
Jkt 217001
76031
B. Annual Reporting Burden
Respondents: 4,604.
Total Responses: 116,869.
Total Burden Hours: 7,830.
OBTAINING COPIES OF
PROPOSALS: Requesters may obtain a
copy of the information collection
documents from the General Services
Administration, Regulatory Secretariat
(VPR), 1800 F Street, NW., Room 4041,
Washington, DC 20405, telephone (202)
501–4755. Please cite OMB Control No.
3090–0027, Contract Administration,
Quality Assurance (GSAR Parts 542 and
546; GSA Form 1678, and GSA Form
308), in all correspondence.
PO 00000
Frm 00042
Fmt 4703
Sfmt 4703
BILLING CODE 6820–61–S
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Centers for Disease Control and
Prevention
AGENCY: Centers for Disease Control and
Prevention (CDC), Health and Human
Services (HHS).
ACTION: Notice.
SUMMARY: The Centers for Disease
Control and Prevention (CDC), National
Center for Immunization and
Respiratory Diseases (NCIRD), Division
of Bacterial Diseases (DBD) through its
component Branches have lead
technical responsibility for research,
development and evaluation of
diagnostic tools for pertussis and
application of these to epidemiologic
studies of pertussis. CDC uses
epidemiologic, laboratory, clinical, and
biostatistical sciences to control and
prevent vaccine preventable infectious
diseases. CDC also conducts applied
research in a variety of settings, and
translates the findings of this research
into public health practice.
CDC is seeking to evaluate
commercial products, or products in
development, for in vitro serological
diagnosis of pertussis. Specifically these
should include tests to detect antipertussis toxin antibodies in infected
and vaccinated individuals. The tests
should be based on standardized
reagents commonly used in the field
(such as FDA Reference Serum Standard
Lot #3 or equivalents). Products will be
evaluated in CDC and collaborating
laboratories and if appropriate, may be
used in epidemiologic validation
studies. Data obtained from this
comparative analysis may be used by
CDC in making recommendations and
decisions for diagnosis of pertussis in
the public health setting.
Interested organizations that may
have candidate products are invited to
submit documentation for CDC to assess
whether the offered product(s) are at a
sufficient stage of development to be
included in this comparative analysis.
As a minimum, submitted information
should be sufficient for CDC to
E:\FR\FM\15DEN1.SGM
15DEN1
]]>Agencies
[Federal Register Volume 73, Number 241 (Monday, December 15, 2008)]
[Notices]
[Pages 76027-76031]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-29563]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
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
(PRA), 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
part 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 Paperwork Reduction Act
Submission, 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.
Request for Comment on Information Collection Proposal
The following information collection, which is being handled under
this delegated authority, has received initial Board approval and is
hereby published for comment. At the end of the comment period, the
proposed information collection, along with an analysis of comments and
recommendations received, will be submitted to the Board for final
approval under OMB delegated authority. Comments are invited on the
following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed information collection, including the validity of the
methodology and assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected; and
d. Ways to minimize the burden of information collection on
respondents, including the use of automated collection techniques or
other forms of information technology.
DATES: Comments must be submitted on or before February 13, 2009.
ADDRESSES: You may submit comments, identified by FR 2644 (OMB No.
7100-0075) by any of the following methods:
Agency Web Site: www.federalreserve.gov. Follow the
instructions for submitting comments at www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
[[Page 76028]]
Federal eRulemaking Portal: www.regulations.gov. Follow
the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include the OMB
control 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
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.
Additionally, those providing comments should send a copy by mail
to the OMB Desk Officer at 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: A copy of the PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documents, will be placed into OMB's public docket
files once approved. These documents will also be made available on the
Federal Reserve Board's public Web site at: www.federalreserve.gov/
boarddocs/reportforms/review.cfm or may be requested from the agency
clearance officer, whose name appears below.
Michelle Shore, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the
Federal Reserve System, Washington, DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors
of the Federal Reserve System, Washington, DC 20551.
Proposal to approve under OMB delegated authority the extension for
three years, with revision, of the following report:
Report title: Weekly Report of Selected Assets and Liabilities of
Domestically Chartered Commercial Banks and U.S. Branches and Agencies
of Foreign Banks.
Agency form numbers: FR 2644.
OMB control number: 7100-0075.
Frequency: Weekly.
Reporters: Domestically chartered commercial banks and U.S.
branches and agencies of foreign banks.
Annual reporting hours: 120,575 hours.
Estimated average hours per response: 2.65 hours.
Number of respondents: 875.
General description of reports: The FR 2644 is authorized by
section 2A and 11(a)(2) of the Federal Reserve Act [12 U.S.C. 225(a)
and 248(a)(2)] and by section 7(c)(2) of the International Banking Act
[12 U.S.C. 3105(c)(2)] and is voluntary. Individual respondent data are
regarded as confidential under the Freedom of Information Act [5 U.S.C.
552(b)(4)].
Abstract: The Weekly Report of Assets and Liabilities for Large
U.S. Branches and Agencies of Foreign Banks (FR 2069; OMB No. 7100-
0030), the Weekly Report of Assets and Liabilities for Large Banks (FR
2416; OMB No. 7100-0075), and the Weekly Report of Selected Assets (FR
2644; OMB No. 7100-0075) are referred to collectively as the bank
credit reports. These three voluntary reports have been the primary
source of high-frequency data used in the analysis of current banking
developments. The FR 2416 data are used on a stand-alone basis to
construct the large domestically chartered bank series. The other two
reports collect sample data that are used to estimate universe levels
using data from the quarterly commercial bank Consolidated Reports of
Condition and Income (FFIEC 031 and 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 bank credit reports, together with data from other sources,
are used to construct weekly estimates of bank credit, balance sheet
data for the U.S. banking industry, sources and uses of banks' funds,
and to analyze banking developments.
The Federal Reserve publishes the data in aggregate form in the
weekly H.8 statistical release, Assets and Liabilities of Commercial
Banks in the United States, which is followed closely by other
government agencies, the banking industry, the financial press, and
other users. This release provides a balance sheet for the banking
industry as a whole and data disaggregated by its large domestically
chartered, small domestically chartered, and foreign-related
components.
Current actions: The Federal Reserve proposes to combine the three
bank credit reporting forms into one reporting form, the proposed
Weekly Report of Selected Assets and Liabilities of Domestically
Chartered Commercial Banks and U.S. Branches and Agencies of Foreign
Banks (FR 2644; OMB No. 7100-0075). This report would be collected from
an authorized stratified sample of 875 domestically chartered
commercial banks and U.S. branches and agencies of foreign banks. The
new panel would be significantly smaller than the authorized sample of
1,220 respondents for the current family of reports. The proposed FR
2644 report would be filed by each institution selected for the
reporting panel, regardless of its asset size or charter type, and
would consist of 34 data items. Improvements to the reporting scheme
would include increasing flexibility in analyzing weekly reported bank
balance sheet data, adapting the report to fair value accounting as
prescribed under the Financial Accounting Standards Board (FASB)
Statement of Financial Acounting Standards No. 159, The Fair Value
Option for Financial Assets and Financial Liabilities (FAS 159),
improving the data detail on securities, and eliminating data items
that are no longer needed at a weekly frequency. The first report for
the proposed FR 2644 would be as of July 1, 2009.
Proposed Discontinuance of the FR 2416 and the FR 2069: The current
FR 2416 and FR 2069 reporting forms would be discontinued. The current
reporting panels for these reporting forms would be shifted to the
proposed FR 2644 reporting panel and notified that either the FR 2416
or FR 2069 reporting form had been replaced with the proposed FR 2644
reporting form.
Proposed Revisions to the FR 2644: The new single reporting form
would be filed by all selected weekly reporters of bank credit data
(large domestically chartered commercial banks, small domestically
chartered commercial banks, and U.S. branches and agencies of foreign
banks). The Federal Reserve anticipates that having all reporters use
the same reporting form would remove the report-related constraints
that make it difficult to analyze bank behavior without significantly
reducing the accuracy of the resulting bank credit aggregates.
In addition to combining the reporting panels, the Federal Reserve
proposes to:
Adapt this family of reports to fair value accounting by
asking banks to include loans and securities held in trading accounts
in the appropriate loan or security component,
Include data items on securities by issuer and type of
security instead of by account type (investment account versus trading
account),
[[Page 76029]]
Include more detail on mortgage-backed securities (broken
out by issuer and collected from all banks),
Include more data item detail for small domestically
chartered banks and U.S. branches and agencies of foreign banks, and
Delete 10 data items, on net, currently collected on the
FR 2416 reporting form that are no longer needed on a weekly basis.
The proposed FR 2644 reporting form would consist of 34 data items,
an increase of 13 data items over the current FR 2644 reporting form.
The 13 additional data items are:
Cash and balances due from depository institutions,
Mortgage-backed securities reported by issuer (U.S.
Treasury and agency and other),
Federal funds sold and reverse repurchase agreements
reported by counterparty (commercial banks and others),
Allowance for loan and lease losses,
Trading assets,
Derivatives with a positive fair value,
All other assets (a residual),
Total deposits,
Time deposits of $100,000 or more,
Trading liabilities,
Derivatives with a negative fair value,
All other liabilities (a residual), and
Net unrealized gains (losses) on available-for-sale
securities.
The proposed additions include several data items that are
currently collected from large domestically chartered banks on the FR
2416 and from U.S. branches and agencies of foreign banks on the FR
2069. For the proposed FR 2644, the Federal Reserve revised the
methodology for determining the estimated average hours per response
based on the weighted average of data items submitted with values
greater than zero. Since many smaller current FR 2644 reporters have
zero balances on their Call Reports for some of the proposed items,
these reporters would not be expected to incur large increases in
reporting burden under this proposal.
The following is a discussion of each data item that would be
collected on the proposed FR 2644 reporting form.
1. Cash and balances due from depository institutions. The proposed
FR 2644 reporting form would include a new data item, Cash and balances
due from depository institutions, because these data would provide a
useful measure of banks' liquidity positions. This data item is
included on the current FR 2416 and FR 2069 reporting forms.
2. Securities (including securities reported as trading assets on
the Call Report). As on the current FR 2644 reporting form, the
securities data on the proposed FR 2644 reporting form would include
securities held for both investment and trading purposes. Domestically
chartered banks that do not report data on Call Report Schedule RC-D
would continue to omit trading assets from the securities items on the
proposed FR 2644 reporting form. These reporters would include all
trading assets in new data item 5, Trading assets, other than loans and
securities included above. In addition, the securities data items on
the proposed reporting form would continue to be broken down by type of
issuer, i.e., U.S. Treasury securities and U.S. Government agency
obligations and Other securities. However, within-issuer, data would be
further subdivided by type of security, i.e., Mortgage-backed
securities and Other.
The increased detail on mortgage-backed securities is needed in
order to better analyze banks' investment strategies and their exposure
to mortgage-backed securities. Both the FR 2416 and FR 2644 reporting
forms collect data on mortgage-backed securities in investment accounts
only. The FR 2416 reporting form includes these data items broken out
by Pass-through securities and Collateralized Mortgage Obligations and
Real Estate Mortgage Investment Conduits. The FR 2069 reporting form
does not collect any data on mortgage-backed securities. Under the
proposed single reporting form, data on all mortgage-backed securities
(whether held in investment or trading accounts) would be collected
from all institutions.
The Federal Reserve proposes to continue collecting the securities
items inclusive of securities held as trading assets and to implement
the proper classification of other trading assets in order to
accurately measure bank credit. Currently, FR 2416 and FR 2069
respondents report all trading assets, including loans and other non-
security items held as trading assets, in data item 2, Trading assets,
and FR 2644 respondents report trading assets in either data item 1,
U.S. Treasury securities and U.S. Government agency obligations, data
item 2, Other securities, or data item 5, Total assets. On the proposed
FR 2644 reporting form, trading assets would be reported in the
appropriate security or loan component (data item 2 or 4, respectively)
or be included in data item 5, Trading assets, other than securities
and loans included above.
3. Federal funds sold and securities purchased under agreements to
resell. The proposed FR 2644 reporting form would break out this data
item by counterparty, i.e., With commercial banks in the U.S.
(including U.S. branches and agencies of foreign banks) and With others
(including nonbank brokers and dealers in securities and Federal Home
Loan Bank). The detail is needed to construct bank credit, which
excludes federal funds sold to and reverse repurchase agreements with
banks. The FR 2416 and FR 2069 reporting forms include this detail and
also include Federal funds sold and securities purchased under
agreements to resell with nonbank brokers and dealers in securities.
4. Loans and leases (including loans reported as trading assets on
the Call Report). The proposed FR 2644 reporting form would include the
components of core loans (real estate, commercial and industrial, and
consumer loans) at the existing level of detail, but each component
would be redefined to include loans held for trading purposes. Core
loans form the bulk of bank credit and are studied closely by the
Federal Reserve.
The proposed FR 2644 reporting form would redefine each loan item
to include loans measured at fair value and reported as trading assets
on Call Report Schedule RC-D (for domestically chartered banks) or on
Schedule RAL (for U.S. branches and agencies of foreign banks). This
inclusion should not prove burdensome for most banks since most do not
book loans in their trading accounts. Nonetheless, some large banks
have taken up this practice, so including loans held as trading assets
in the loan items is necessary to accurately measure bank credit. If a
domestically chartered bank does not report data on Schedule RC-D of
the Call Report but holds loans as trading assets, it would include
those loans in data item 5, Trading assets, other than securities and
loans included above.
The data item 4.b, Loans to, and acceptances of, commercial banks
in the U.S. (including U.S. branches and agencies of foreign banks)
would continue to be included as a separate data item, since interbank
loans are excluded from bank credit. Data item 4.e, All other loans and
leases, would be included to construct total loans and leases. The FR
2416 and FR 2069 include the data item, Loans for purchasing or
carrying securities. The FR 2416 includes the data item, Lease
financing receivables (net of unearned income). The proposed FR 2644
report would include these data items in All other loans and leases.
[[Page 76030]]
The proposed FR 2644 would define all loan components net of
unearned income. The FR 2416 reporting form includes the data item
Unearned income, if any, included in items (above). Under the proposed
FR 2644 reporting form, this data item would not be reported
separately, since all loan items would be reported net of unearned
income.
The proposed FR 2644 would include new data item 4.f, Allowance for
loan and lease losses. The FR 2416 reporting form includes this data
item; however, the FR 2069 reporting form does not. This data item has
grown dramatically over the past year, reflecting losses in the
troubled credit markets, and is needed to aid the Federal Reserve in
monitoring the health of banks' loan portfolios.
5. Trading assets, other than securities and loans included above.
The proposed FR 2644 reporting form would include two new data items:
Trading assets, other than securities and loans included above (which
includes derivatives, gold bullion, and other trading assets) and its
subcomponent, data item 5.a, Derivatives with a positive fair value
(included in item 5 above). The FR 2416 and FR 2069 include the
identical data item, Derivatives with a positive fair value held for
trading purposes. Domestically chartered commercial banks that do not
report on Schedule RC-D of the Call Report would report total trading
assets in data item 5, Trading assets, other than securities and loans
included above, and would not report any balances in data item 5.a.
These data items are needed to monitor trading assets and to better
understand how interest rates and market valuations affect the fair
value of derivatives.
6. Other assets. Net due from related foreign offices (if FFIEC 002
respondent, include head office and other related depository
institutions in the U.S.) would be reported on the proposed FR 2644
because it is used in the construction of managed liabilities, an
aggregate that is tracked by the Federal Reserve in order to understand
the composition of banks' marginal funding sources over time. The FR
2416 and FR 2644 include this data item as Net due from own foreign
offices, Edge and agreement subsidiaries, and IBFs. The FR 2069
includes this data item as Net due from head office and other related
depository institutions in the U.S. and in foreign countries. The new
data item 6.b, All other assets, is needed to complete the asset side
of the balance sheet, thereby avoiding measurement problems inherent in
collecting a partial balance sheet. All other assets includes premises
and fixed assets, other real estate owned, investments in
unconsolidated subsidiaries and associated companies, intangible assets
(including goodwill), derivatives with a positive fair value held for
purposes other than trading, and all remaining assets.
7. Total assets. This data item is reported net of any allowance
for loan and lease losses. It equals the sum of data items 1 through
4.e, 5, 6.a, and 6.b minus data item 4.f. To avoid double counting,
data item 5.a, Derivatives with a positive fair value (included in item
5 above), is ignored when constructing total assets.
8. Total deposits. The proposed FR 2644 would include the new data
item 8, Total deposits, because it is a major component of the
liabilities side of the balance sheet. The FR 2416 includes the data
items Transaction accounts and Nontransaction accounts. The FR 2069
includes the data items Transaction accounts and credit balances and
Nontransaction accounts. The proposed FR 2644 would also include data
item 8.a, Time deposits of $100,000 or more (included in item 8 above),
because it is an important component of managed liabilities. The
Federal Reserve may adjust the cutoff for large time deposits if and
when the definition of large time deposits changes on the Call Reports.
9. Borrowings. The proposed FR 2644 would include borrowings by
counterparty, i.e., From commercial banks in the U.S. (including U.S.
branches and agencies of foreign banks) and From others (including FRB
and FHLB). These borrowings items are included on the current FR 2416,
FR 2644, and FR 2069 reporting forms and are needed in order to
construct managed liabilities.
10. Trading liabilities. The proposed FR 2644 would include two new
data items: Trading liabilities and its subcomponent, data item 10.a,
Derivatives with a negative fair value. The FR 2416 and FR 2069 include
the identical data items. Domestically chartered commercial banks that
do not report on Schedule RC-D of the Call Report would report total
trading liabilities in data item 10, Trading liabilities, and would not
report any balances in data item 10.a. These data items are needed to
construct banks' liability for short positions, which is a component of
managed liabilities.
11. Other liabilities. Net due to related foreign offices (if FFIEC
002 respondent, include head office and other related depository
institutions in the U.S.) would be included on the proposed FR 2644
because it is used to construct managed liabilities. The FR 2416 and FR
2644 include this data item as Net due to own foreign offices, Edge and
agreement subsidiaries, and IBFs. The FR 2069 reporting form includes
this data item as Net due to head office and other related depository
institutions in the U.S. and in foreign countries. The new data item,
All other liabilities (including subordinated notes and debentures), is
needed to complete the liabilities side of the balance sheet, thereby
avoiding measurement problems inherent in collecting a partial balance
sheet. In addition to subordinated notes and debentures, All other
liabilities includes net deferred tax liabilities, interest and other
expenses accrued and unpaid, and derivatives with a negative fair value
held for purposes other than trading.
12. Total liabilities. This data item is the sum of data items 8,
9.a, 9.b, 10, 11.a, and 11.b (that is, the sum of data items 8 through
11 excluding items 8.a and 10.a, to avoid double counting).
M.1. Net unrealized gains (losses) on available-for-sale
securities. The proposed FR 2644 would include this new data item to
better understand how interest rates and market valuations affect the
fair value of available-for-sale securities. The FR 2416 includes this
data item while the FR 2069 reporting form does not.
M.2. Outstanding principal balance of assets sold and securitized
by the reporting bank with servicing retained or with recourse or other
seller-provided credit enhancements. The proposed FR 2644 would collect
data for memorandum item M.2.a, Real estate loans, memorandum item
M.2.b, Credit card receivables and other revolving credit plans, and
memorandum item M.2.c, Other consumer loans. These data items are
currently included on the FR 2416 and FR 2644. The data items, Credit
cards and related plans and Other consumer loans, were added to the FR
2416 and FR 2644 in June 2000 to replace items previously included on
the (discontinued) monthly Commercial Bank Survey of Consumer Credit
(FR 2571; OMB No. 7100-0080). These data items are published on the
monthly G.19 release, Consumer Credit. The data item Real estate loans
was added to the FR 2416 and FR 2644 reporting forms in July 2007 to
improve the Federal Reserve's understanding of residential real estate
loan originations. These data items are needed to aid the Federal
Reserve's interpretation of credit flows even though they are reported
by relatively few institutions.
Instructions: The instructions would be revised and clarified in
accordance with changes made to the FR 2644 reporting form.
[[Page 76031]]
Proposal To Approve Under OMB Delegated Authority the
Discontinuance of the Following Reports:
Report title: The Weekly Report of Assets and Liabilities for Large
U.S. Branches and Agencies of Foreign Banks; the Weekly Report of
Assets and Liabilities for Large Banks.
Agency Form Numbers: FR 2069; FR 2416.
OMB Control Number: 7100-0030; 7100-0075.
Frequency: Weekly.
Reporters: U.S. branches and agencies of foreign banks;
Domestically chartered commercial banks.
Annual Reporting Hours: 14,560 hours; 22,386 hours.
Estimated Average Hours per Response: 4.00 hours; 8.61 hours.
Number of Respondents: 70; 50.
Current actions: If the proposal to revise the FR 2644 is approved,
then the current FR 2416 and FR 2069 reporting forms would be
discontinued. The current reporting panels for these reporting forms
would be shifted to the proposed FR 2644 reporting panel and notified
that either the FR 2416 or FR 2069 reporting form had been replaced
with the proposed FR 2644 reporting form.
Board of Governors of the Federal Reserve System, December 10,
2008.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E8-29563 Filed 12-12-08; 8:45 am]
BILLING CODE 6210-01-P
