[Federal Register: March 2, 2005 (Volume 70, Number 40)]
[Notices]
[Page 10094-10095]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr05-43]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Board of Governors of the Federal Reserve System (Board)
ACTION: Notice of information collection to be submitted to OMB for
review and approval under the Paperwork Reduction Act of 1995.
-----------------------------------------------------------------------
SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (44 U.S.C. chapter 35), the Board, the Federal Deposit
Insurance Corporation, and the Office of the Comptroller of the
Currency (the ``agencies'') may not conduct or sponsor, and the
respondent is not required to respond to, an information collection
unless it displays a currently valid Office of Management and Budget
(OMB) control number.
On September 29, 2004, the agencies, under the auspices of the
Federal Financial Institutions Examination Council (FFIEC), published a
notice in the Federal Register (69 FR 58171) requesting public comment
for 60 days on the extension, without revision, of the currently
approved information collections: the Report of Assets and Liabilities
of U.S. Branches and Agencies of Foreign Banks (FFIEC 002) and the
Report of Assets and Liabilities of a Non-U.S. Branch that is Managed
or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank
(FFIEC 002S). The comment period for this notice expired on November
29, 2004. No comments were received. The Board hereby gives notice that
it plans to submit to OMB on behalf of the agencies a request for
approval of the FFIEC 002 and FFIEC 002S.
DATES: Comments must be submitted on or before April 1, 2005.
ADDRESSES: Interested parties are invited to submit written comments to
the agency listed below. All comments should refer to the OMB control
number and will be shared among the agencies. You may submit comments,
identified by FFIEC 002 (7100-0032) or FFIEC 002S (7100-0273), by any
of the following methods:
Agency Web Site: http://www.federalreserve.gov Follow the instructions for submitting comments on the http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm..
> Federal eRulemaking Portal: http://www.regulations.gov. Follow
the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
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, N.W.,
Washington, DC 20551.
All public comments are available from the Board's web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted,
except as necessary 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, N.W.)
between 9:00 a.m. and 5:00 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT: Additional information or a copy of
the collections may be requested from Michelle Long, Federal Reserve
Board Clearance Officer, 202-452-3829, Division of Research and
Statistics, Board of Governors of the Federal Reserve System, 20th and
C Streets, N.W., Washington, DC 20551. Telecommunications Device for
the Deaf
[[Page 10095]]
(TDD) users may call 202-263-4869, Board of Governors of the Federal
Reserve System, 20th and C Streets, N.W., Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Proposal to extend for three years without revision the following
currently approved collections of informations:
1. Report Title: Report of Assets and Liabilities of U.S. Branches
and Agencies of Foreign Banks
Form Number: FFIEC 002
OMB Number: 7100-0032
Fequency of Response: Quarterly
Affected Public: U.S. branches and agencies of foreign banks
Number of Respondents: 275
Estimated Time per Response: 22.75 hours
Estimated Total Annual Burden: 25,025 hours
General Description of Report: This information collection is
mandatory: 12 U.S.C. 3105(b)(2), 1817(a)(1) and (3), and 3102(b).
Except for select sensitive items, this information collection is not
given confidential treatment [5 U.S.C. 552(b)(8)].
Abstract: On a quarterly basis, all U.S. branches and agencies of
foreign banks (U.S. branches) are required to file detailed schedules
of assets and liabilities in the form of a condition report and a
variety of supporting schedules. This information is used to fulfill
the supervisory and regulatory requirements of the International
Banking Act of 1978. The data are also used to augment the bank credit,
loan, and deposit information needed for monetary policy and other
public policy purposes. The Federal Reserve System collects and
processes this report on behalf of all three agencies.
2. Report Title: Report of Assets and Liabilities of a Non-U.S.
Branch that is Managed or Controlled by a U.S. Branch or Agency of a
Foreign (Non-U.S.) Bank
Form Number: FFIEC 002S
OMB Number: 7100-0273
Frequency of Response: Quarterly
Affected Public: U.S. branches and agencies of foreign banks
Estimated Number of Respondents: 74
Estimated Time per Response: 6 hours
Estimated Total Annual Burden: 1,776 hours
General Description of Report: This information collection is
mandatory: 12 U.S.C. 3105(b)(2), 1817(a)(1) and (3), and 3102(b) and is
given confidential treatment [5 U.S.C. 552(b)(8)].
Abstract: On a quarterly basis, all U.S. branches and agencies of
foreign banks are required to file detailed schedules of their assets
and liabilities in the form FFIEC 002. The FFIEC 002S is a separate
supplement to the FFIEC 002 that collects information on assets and
liabilities of any non-U.S. branch that is ``managed or controlled'' by
a U.S. branch or agency of the foreign bank. Managed or controlled
means that a majority of the responsibility for business decisions,
including but not limited to decisions with regard to lending or asset
management or funding or liability management, or the responsibility
for recordkeeping in respect of assets or liabilities for that foreign
branch resides at the U.S. branch or agency. A separate FFIEC 002S must
be completed for each managed or controlled non-U.S. branch. The FFIEC
002S must be filed quarterly along with the U.S. branch's or agency's
FFIEC 002.
The data are used for: (1) monitoring deposit and credit
transactions of U.S. residents; (2) monitoring the impact of policy
changes; (3) analyzing structural issues concerning foreign bank
activity in U.S. markets; (4) understanding flows of banking funds and
indebtedness of developing countries in connection with data collected
by the International Monetary Fund (IMF) and the Bank for International
Settlements (BIS) that are used in economic analysis; and (5) assisting
in the supervision of U.S. offices of foreign banks, which often are
managed jointly with these branches.
Request for Comment
Comments are invited on:
a. Whether the information collections are necessary for the proper
performance of the agencies' functions, including whether the
information has practical utility;
b. The accuracy of the agencies' estimates of the burden of the
information collections, including the validity of the methodology and
assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Comments submitted in response to this notice will be shared among
the agencies. All comments will become a matter of public record.
Written comments should address the accuracy of the burden estimates
and ways to minimize burden including the use of automated collection
techniques or the use of other forms of information technology as well
as other relevant aspects of the information collection request.
Board of Governors of the Federal Reserve System, February 24,
2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 05-3974 Filed 3-1-05; 8:45 am]
BILLING CODE 6210-01-S