Proposed Agency Information Collection Activities; Comment Request, 39258 [2010-16619]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 75, Number 130 (Thursday, July 8, 2010)]
[Notices]
[Page 39258]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16619]


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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 
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 Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, 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 through the use of automated collection 
techniques or other forms of information technology.

DATES: Comments must be submitted on or before September 7, 2010.

ADDRESSES: You may submit comments, identified by Reg H-3, by any of 
the following methods:
     Agency Web site: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: regs.comments@federalreserve.gov. Include 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 
https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as 
submitted, unless modified for technical reasons. Accordingly, your 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper form 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, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. Office of Management and Budget, New Executive 
Office Building, Room 10235, 725 17th Street, NW., Washington, DC 20503 
or by fax to 202-395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation 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: https://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).
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following report:
    Report title: Recordkeeping and Disclosure Requirements Associated 
with Securities Transactions Pursuant to Regulation H.
    Agency form number: Reg H-3.
    OMB control number: 7100-0196.
    Frequency: On occasion.
    Reporters: State member banks.
    Estimated annual reporting hours: 97,279 hours.
    Estimated average hours per response: State member banks (de novo): 
recordkeeping, 40 hours. State member banks with trust departments: 
Recordkeeping, 2 hours; disclosure, 16 hours. State member banks 
without trust departments: Recordkeeping, 15 minutes; disclosure, 5 
hours.
    Number of respondents: 3 new State member banks (de novo), 224 
State member banks with trust departments and State member trust 
companies, and 621 State member banks without trust departments.
    General description of report: This information collection is 
mandatory pursuant the Federal Deposit Insurance Corporation Act (12 
U.S.C. 325), which authorizes the Federal Reserve to require 
recordkeeping, disclosure and policy establishment requirements 
associated with Sections 208.34(c), (d), and (g) of Regulation H, and 
15 U.S.C. 78w. If the records maintained by State member banks come 
into the possession of the Federal Reserve, they are given confidential 
treatment (5 U.S.C. 552(b)(4), (b)(6), and (b)(8)) under the Freedom of 
Information Act.
    Abstract: The Federal Reserve's Regulation H requires State member 
banks to maintain records for three years following a securities 
transaction. These requirements are necessary to protect the customer, 
to avoid or settle customer disputes, and to protect the institution 
against potential liability arising under the anti-fraud and insider 
trading provisions of the Securities Exchange Act of 1934.

    Board of Governors of the Federal Reserve System, July 2, 2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-16619 Filed 7-7-10; 8:45 am]
BILLING CODE 6210-01-P