Proposed Agency Information Collection Activities; Comment Request, 76027-76031 [E8-29563]

Download as PDF 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. pwalker on PROD1PC71 with NOTICES 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 http://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 VerDate Aug<31>2005 20:00 Dec 12, 2008 Jkt 217001 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: http://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 PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 76027 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. E:\FR\FM\15DEN1.SGM 15DEN1 pwalker on PROD1PC71 with NOTICES 76028 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. VerDate Aug<31>2005 20:00 Dec 12, 2008 Jkt 217001 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 PO 00000 Frm 00039 Fmt 4703 Sfmt 4703 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), E:\FR\FM\15DEN1.SGM 15DEN1 pwalker on PROD1PC71 with NOTICES Federal Register / Vol. 73, No. 241 / Monday, December 15, 2008 / Notices • 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. VerDate Aug<31>2005 20:00 Dec 12, 2008 Jkt 217001 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. PO 00000 Frm 00040 Fmt 4703 Sfmt 4703 76029 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. E:\FR\FM\15DEN1.SGM 15DEN1 pwalker on PROD1PC71 with NOTICES 76030 Federal Register / Vol. 73, No. 241 / Monday, December 15, 2008 / Notices 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 VerDate Aug<31>2005 20:00 Dec 12, 2008 Jkt 217001 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 PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 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