Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 48967-48969 [E9-23165]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 74, Number 185 (Friday, September 25, 2009)]
[Notices]
[Pages 48967-48969]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-23165]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY: Background. Notice is hereby given of the final approval of 
proposed information collections by the Board of Governors of the 
Federal Reserve System (Board) under OMB delegated authority, as per 5 
CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the Paperwork Reduction Act Submission, 
supporting statements and approved collection of information 
instrument(s) are placed into OMB's public docket files. The Federal 
Reserve may not conduct or sponsor, and the respondent is not required 
to respond to, an information collection that has been extended, 
revised, or implemented on or after October 1, 1995, unless it displays 
a currently valid OMB control number.

FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer--Michelle Shore--Division of 
Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202-452-3829).
OMB Desk Officer--Shagufta Ahmed --Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235, Washington, DC 20503.

    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following reports:
    1. Report title: Report of Transaction Accounts, Other Deposits and 
Vault Cash.
    Agency form number: FR 2900.
    OMB control number: 7100-0087.
    Frequency: Weekly and quarterly.
    Reporters: Depository institutions.
    Estimated annual reporting hours: 598,738 hours.
    Estimated average time per response: 3.50 hours.
    Number of respondents: 2,914 weekly and 4,885 quarterly.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: Institutions with net transaction accounts greater than 
the exemption amount are called nonexempt institutions. Institutions 
with total transaction accounts, savings deposits, and small time 
deposits greater than or equal to the reduced reporting limit, 
regardless of the level of their net transaction accounts, are also 
referred to as nonexempt institutions. Nonexempt institutions submit FR 
2900 data either weekly or quarterly. An institution is required to 
report weekly if its total transaction accounts, savings deposits, and 
small time deposits are greater than or equal to the nonexempt deposit 
cutoff. If the nonexempt institution's total transaction accounts, 
savings deposits, and small time deposits are less than the nonexempt 
deposit cutoff then the institution must report quarterly. U.S. 
branches and agencies of foreign banks and banking Edge and agreement 
corporations submit the FR 2900 data on a weekly basis, regardless of 
their size. These mandatory data are used by the Federal Reserve for 
administering Regulation D (Reserve Requirements of Depository 
Institutions) and for constructing, analyzing, and monitoring the 
monetary and reserve aggregates.
    2. Report title: Annual Report of Total Deposits and Reservable 
Liabilities.
    Agency form number: FR 2910a.
    OMB control number: 7100-0175.

[[Page 48968]]

    Frequency: Annually.
    Reporters: Depository institutions.
    Annual reporting hours: 3,605 hours.
    Estimated average time per response: 45 minutes.
    Number of respondents: 4,807.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), and 461) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2910a is an annual report generally filed by 
depository institutions that are exempt from reserve requirements under 
the Garn-St Germain Depository Institutions Act of 1982 and whose total 
deposits, measured from depository institutions' December quarterly 
condition reports, are greater than the exemption amount but less than 
the reduced reporting limit. The report contains three data items that 
are to be submitted for a single day, June 30: (1) Total transaction 
accounts, savings deposits, and small time deposits; (2) reservable 
liabilities; and (3) net transaction accounts. The data collected on 
this report serves two purposes. First, the data are used to determine 
which depository institutions will remain exempt from reserve 
requirements and consequently eligible for reduced reporting for 
another year. Second, the data are used in the annual indexation of the 
low reserve tranche, the exemption amount, the nonexempt deposit 
cutoff, and the reduced reporting limit. These mandatory data are used 
by the Federal Reserve for administering Regulation D and for 
constructing, analyzing, and monitoring the monetary and reserve 
aggregates.
    3. Report title: Report of Foreign (Non-U.S.) Currency Deposits.
    Agency form number: FR 2915.
    OMB control number: 7100-0237.
    Frequency: Quarterly.
    Reporters: Depository institutions.
    Annual reporting hours: 230 hours.
    Estimated average time per response: 30 minutes.
    Number of respondents: 115.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a)(2) and 347(d)) and is given confidential 
treatment (5 U.S.C. 552(b)(4)).
    Abstract: All FR 2900 respondents, both weekly and quarterly, that 
offer deposits denominated in foreign currencies at their U.S. offices 
file the FR 2915. FR 2915 data are used to remove foreign currency 
deposits from aggregated FR 2900 data in constructing the monetary 
aggregates. All weekly and quarterly FR 2900 respondents offering 
foreign currency deposits file the FR 2915 quarterly, on the same 
reporting schedule as quarterly FR 2900 respondents. The FR 2915 is the 
only source of data on such deposits.
    4. Report title: Allocation of Low Reserve Tranche and Reservable 
Liabilities Exemption.
    Agency form number: FR 2930.
    OMB control number: 7100-0088.
    Frequency: Annually and on occasion.
    Reporters: Depository institutions.
    Annual reporting hours: 33 hours.
    Estimated average time per response: 15 minutes.
    Number of respondents: 133.
    General description of report: This information collection is 
mandatory (12 U.S.C. 248(a), 461, 603, and 615) and is given 
confidential treatment (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2930 provides information on the allocation of the 
low reserve tranche and the reservable liabilities exemption for 
depository institutions with offices in more than one state or Federal 
Reserve District or for those operating under operational convenience. 
For calculation of required reserves on net transaction accounts, there 
is a low reserve tranche within which deposits are reserved at a lower 
reserve requirement ratio than are amounts in excess of the low reserve 
tranche. Within the low reserve tranche, deposits under the reservable 
liabilities exemption amount are reserved at zero. All U.S. offices of 
the same parent depository institution share one low reserve tranche 
and one reservable liabilities exemption. This report provides the 
basis for allocating these amounts across separate reporting offices.
    Current Actions: On July 16, 2009, the Federal Reserve published a 
notice in the Federal Register (74 FR 34577) requesting public comment 
for 60 days on the extension, without revision, of the FR 2900, FR 
2910a, FR 2915, and FR 2930 reports. The comment period for this notice 
expired on September 14, 2009. The Federal Reserve did not receive any 
comments.
    5. Report title: Advanced Capital Adequacy Framework Information 
Collection.
    OMB Number: 7100-0313.
    Agency form number: FR 4200.
    Frequency of Response: Annually and quarterly.
    Affected Public: Banks and bank holding companies (BHCs).
    Estimated Number of Respondents: 19.
    Estimated Time per Response: Written implementation plan 13,268 
hours; prior written approvals 1,009 hours; and disclosures 36.25 
hours.
    Estimated Total Annual Burden: 113,793 hours.
    General Description of Report: This information collection is 
mandatory pursuant 12 U.S.C. 324 and 1844(c). The written 
implementation plan and prior approvals are given confidential 
treatment (5 U.S.C. 552(b)(8)).
    Abstract: On December 7, 2007, the Federal Reserve issued a final 
rule titled Risk-Based Capital Standards: Advanced Capital Adequacy 
Framework (final rule) implementing a new risk-based regulatory capital 
framework for institutions in the United States. The final rule 
requires certain large or internationally active banks and bank holding 
companies (BHCs) to (1) Adopt a written implementation plan, (2) update 
that plan for any mergers, (3) obtain prior written approvals for the 
use of certain approaches for determining risk-weighted assets, and (4) 
make certain public disclosures regarding their capital ratios, their 
components, and information on implicit support provided to a 
securitization. There are no required reporting forms associated with 
this information collection.
    Current Actions: On July 17, 2009, the Federal Reserve published a 
notice in the Federal Register (74 FR 34865) requesting public comment 
for 60 days on the extension, without revision, of the FR 4200. The 
comment period for this notice expired on September 15, 2009. The 
Federal Reserve did not receive any comments.
    Final approval under OMB delegated authority of the implementation 
of the following reports:
    1. Report title: Supervisory and Regulatory Survey.
    Agency form number: FR 3052.
    OMB control number: 7100--to be assigned.
    Frequency: On occasion.
    Reporters: Financial businesses.
    Estimated annual reporting hours: 60,000 hours.
    Estimated average time per response: 30 minutes.
    Estimated number of respondents: 5,000.
    General description of report: This information collection is 
authorized pursuant to the: Federal Reserve Act, sections 2A, 9, 12A, 
25, and 25A (12 U.S.C. Sec. Sec.  225a, 324, 263, 602, and 625); Bank 
Holding Company Act, section 5(c) (12 U.S.C. Sec.  1844(c)); 
International Banking Act of 1978, section 7(c)(2) (12 U.S.C. Sec.  
3105(c)(2)); and Federal Deposit Insurance Act, section 7(a) (12 U.S.C. 
Sec.  1817(a)). Generally, respondent participation is voluntary. 
However, with respect to collections of information from state member 
banks, bank holding companies (and their subsidiaries), Edge and 
agreement corporations, and U.S. branches and agencies of foreign banks 
supervised by

[[Page 48969]]

the Federal Reserve, the Federal Reserve could make the surveys 
mandatory. The ability of the Federal Reserve to maintain the 
confidentiality of information provided by respondents to the FR 3052 
surveys would be determined on a case-by-case basis depending on the 
type of information provided for a particular survey. Depending upon 
the survey questions, confidential treatment could be warranted under 
subsections (b)(4), (b)(6), and (b)(8) of the Freedom of Information 
Act. 5 U.S.C. 552(b)(4), (6), and (8).
    Abstract: The supervision and policy functions of the Federal 
Reserve have occasional need to gather data on an ad-hoc basis from the 
banking and financial industries on their financial condition (outside 
of the standardized regulatory reporting process) to respond to changes 
in economic or other factors. Further, the data may relate to a 
particular business activity that requires a more detailed presentation 
of the information than is available through regulatory reports [such 
as the (FFIEC 031 and FFIEC 041; OMB No. 7100-0036) (FFIEC 002; OMB No. 
7100-0032) (FR 2886b; OMB No. 7100-0086), and (FR Y-9C; OMB No. 7100-
0128)]. These data may be particularly needed in times of critical 
economic or regulatory changes or when issues of immediate supervisory 
concern arise from Federal Reserve supervisory initiatives and working 
groups or requests from Board Members and the Congress. The Federal 
Reserve would use this event-driven survey to obtain information 
specifically tailored to the Federal Reserve's supervisory, regulatory, 
operational, and other responsibilities. The Federal Reserve proposes 
to conduct the FR 3052 up to 24 times per year. The frequency and 
content of the questions would depend on changing economic, regulatory, 
or legislative developments.
    2. Report title: Consumer Protection Surveys.
    Agency form number: FR 3053.
    OMB control number: 7100--to be assigned.
    Frequency: On occasion.
    Reporters: Consumers, households, and financial and non-financial 
businesses.
    Estimated annual reporting hours: 6,550 hours.
    Estimated average time per response:
    Consumer studies: Quantitative and general studies, 0.5 hours; 
financial institution consumers, .5 hours; qualitative studies, 1.5 
hours;
    Financial institution study: Financial institution staff, 1.5 
hours; and
    Stakeholder studies: stakeholder clientele, 0.5 hours; stakeholder 
staff, 1.5 hours.
    Estimated number of respondents:
    Consumer studies: Quantitative and general studies, 2,000; 
financial institution consumers, 500; qualitative studies, 100;
    Financial institution study: Financial institution staff, 25; and
    Stakeholder studies: Stakeholder clientele, 500; stakeholder staff, 
100.
    General description of report: This information collection is 
authorized pursuant to the: Home Mortgage Act, section 806 (12 U.S.C. 
2804(a)); Community Reinvestment Act, section 806 (12 U.S.C. 2905); 
Competitive Equality Banking Act, section 1204 (12 U.S.C. 3806); 
Expedited Funds Availability Act, section 609 (12 U.S.C. 4008); Truth 
in Saving Act, section 269 (12 U.S.C. 4308); Federal Trade Commission 
Act, section 18(f) (15 U.S.C. 57a(f)); Truth in Lending Act, section 
105 (15 U.S.C. 1604); Mortgage Disclosure Improvement Act, sections 
2501 through 2503 of the Housing and Economic Recovery Act of 2008 (15 
U.S.C. 1638(b)(2)); Higher Education Opportunity Act of 2008, section 
1021(a) (15 U.S.C. 1638(e)(5)); Consumer Leasing Act of 1976, section 
1021(a)(15 U.S.C. 1667f); Fair Credit Reporting Act, section 621 (15 
U.S.C. 1681s(e)); Equal Credit Opportunity Act, section 703 (15 U.S.C. 
1691b(a)); Electronic Funds Transfer Act, section 904 (15 U.S.C. 
1693b); Gramm-Leach-Bliley Act, section 504 (15 U.S.C. 6804); and Flood 
Disaster Protections Act of 1973, section 102 (42 U.S.C. 4012a). 
Respondent participation in these surveys is voluntary. The ability of 
the Federal Reserve to maintain the confidentiality of information 
provided by respondents to the FR 3053 surveys will be determined on a 
case-by-case basis depending on the type of information provided for a 
particular survey. Depending upon the survey questions, confidential 
treatment could be warranted under the Freedom of Information Act. 5 
U.S.C. 552(b)(4) and (6).
    Abstract: The Federal Reserve would use this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, informational, and other 
responsibilities. This survey would gather qualitative and quantitative 
information directly from: consumers (consumer studies), financial 
institutions and other financial companies offering consumer financial 
products and services (financial institution study), and other 
stakeholders, such as State or local agencies, community development 
organizations, brokers, appraisers, settlement agents, software 
vendors, and consumer groups (stakeholder studies). The Federal Reserve 
proposes to conduct the FR 3053 up to 20 times per year. The frequency 
and content of the questions would depend on changing economic, 
regulatory, or legislative developments.
    Current Actions: On July 16, 2009, the Federal Reserve published a 
notice in the Federal Register (74 FR 34577) requesting public comment 
for 60 days on the implementation of the FR 3052 and FR 3053 Surveys. 
The comment period for this notice expired on September 14, 2009. The 
Federal Reserve did not receive any comments; the surveys will be 
implemented as proposed.

    Board of Governors of the Federal Reserve System, September 22, 
2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9-23165 Filed 9-24-09; 8:45 am]
BILLING CODE 6210-01-P