[Federal Register: March 2, 1998 (Volume 63, Number 40)]
[Notices]               
[Page 10224-10226]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr98-78]

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FEDERAL RESERVE SYSTEM

 
Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System
ACTION: Notice

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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

[[Page 10225]]

Reduction Act, 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. 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. Board-
approved collections of information will be incorporated into the 
official OMB inventory of currently approved collections of 
information. A copy of the OMB 83-I and supporting statement and the 
approved collection of information instruments will be placed into 
OMB's public docket files. 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 May 1, 1998.
ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to William W. Wiles, Secretary, 
Board of Governors of the Federal Reserve System, 20th and C Streets, 
N.W., Washington, DC 20551, or delivered to the Board's mail room 
between 8:45 a.m. and 5:15 p.m., and to the security control room 
outside of those hours. Both the mail room and the security control 
room are accessible from the courtyard entrance on 20th Street between 
Constitution Avenue and C Street, N.W. Comments received may be 
inspected in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as 
provided in section 261.14 of the Board's Rules Regarding Availability 
of Information, 12 CFR 261.14(a).
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Alexander T. Hunt, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
supporting statement, and other documents that will be placed into 
OMB's public docket files once approved may be requested from the 
agency clearance officer, whose name appears below.
    Mary M. McLaughlin, Chief, Financial Reports Section (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 Diane Jenkins (202-452-3544), 
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:
1. Report title: Annual Report of Bank Holding Companies
Agency form number: FR Y-6
OMB control number: 7100-0124
Frequency: annual
Reporters: bank holding companies
Annual reporting hours: 22,552
Estimated average hours per response: 4.0
Number of respondents: 5,638
Small businesses are affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(b) and (c)). Confidential treatment is not 
routinely given to the information in this report. However, 
confidential treatment for the report information can be requested, in 
whole or part, in accordance with the instructions to the form.
    Abstract: The annual FR Y-6 report provides structure information 
that includes an organizational chart and information about 
shareholders that meet certain criteria as well as information on the 
identity, percentage ownership, and business interests of principal 
shareholders, directors, and executive officers. The report enables the 
Federal Reserve to monitor bank holding company operations and to 
ensure that the operations are conducted in a safe and sound manner and 
are in compliance with the provisions of the Bank Holding Company Act 
and Regulation Y (12 C.F.R. 225).
    The Federal Reserve proposes to:
    (1) Add lines to the report cover page and the supplemental cover 
page to disclose physical locations;
    (2) Revise the item providing information on directors and officers 
to eliminate the reporting of the number of voting securities owned, 
controlled or held with the power to vote by principal shareholders, 
officers, directors or other individuals in the bank holding company 
exercising similar functions; and
    (3) Create a separate appendix that would present an example of an 
accurately completed FR Y-6 report for the purpose of assisting 
respondents with this free-form report.
    Proposal to approve under OMB delegated authority the extension for 
three years, without revision, of the following reports:
1. Report title: Notice of Proposed Stock Redemption
Agency form number: FR 4008
OMB control number: 7100-0131
Frequency: on occasion
Reporters: bank holding companies
Annual reporting hours: 822
Estimated average hours per response: 15.5
Number of respondents: 53
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1844(c)) and is not given confidential treatment.
    Abstract: The Federal Reserve System requires a bank holding 
company (BHC), other than a well-run company, to give written notice to 
its District Federal Reserve Bank before purchasing or redeeming its 
equity securities (collectively, redeeming or redemption) if the 
consideration paid for the proposed redemption and other redemptions 
over the preceding twelve months is 10 percent or more of the company's 
consolidated net worth. There is no formal reporting form; the BHC 
notifies the Federal Reserve by letter prior to making the proposed 
redemption. The Federal Reserve uses the information to fulfill its 
statutory obligation to supervise bank holding companies.
    2. Report title: Notice Claiming Status as an Exempt Transfer Agent
Agency form number: FR 4013
OMB control number: 7100-0137
Frequency: on occasion
Reporters: banks, bank holding companies, and trust companies
Annual reporting hours: 16
Estimated average hours per response: 2
Number of respondents: 8
Small businesses are affected.

[[Page 10226]]

    General description of report: This information collection is 
voluntary (15 U.S.C. 78q-l(c)(1)) and is not given confidential 
treatment.
    Abstract: Banks, bank holding companies, and trust companies 
subject to the Federal Reserve's supervision that are low-volume 
transfer agents voluntarily file the FR 4013 notice on occasion with 
the Federal Reserve Board. Transfer agents are institutions that 
provide securities transfer, registration, monitoring, and other 
specified services on behalf of securities issuers. The purpose of the 
notice, which is effective until the agent withdraws it, is to claim 
exemption from certain rules and regulations of the Securities and 
Exchange Commission (SEC). The Federal Reserve uses the notices for 
supervisory purposes because the SEC has assigned to the Federal 
Reserve responsibility for collecting the notices and verifying their 
accuracy through examinations of the respondents. The notice is made by 
letter; there is no reporting form.
3. Report title: Annual Survey of Eligible Bankers Acceptances
Agency form number: FR 2006
OMB control number: 7100-0055
Frequency: annual
Reporters: U.S. commercial banks, U.S. branches and agencies of foreign 
banks, Edge and agreement corporations
Annual reporting hours: 46
Estimated average hours per response: 0.65
Number of respondents: 70
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 248(a), 625, and 3105(b)) and is given 
confidential treatment (5 U.S.C. 522(b)(4)).
    Abstract: The FR 2006 report provides information on eligible U.S. 
dollar acceptances that are payable in the United States. The data are 
used for constructing the monetary aggregates, a nonfinancial debt 
aggregate, and a measure of short-and intermediate -term business 
credit.
    Board of Governors of the Federal Reserve System, February 25, 
1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-5268 Filed 2-27-98; 8:45AM]
Billing Code 6210-01-F