[Federal Register: July 23, 2007 (Volume 72, Number 140)]
[Notices]
[Page 40152-40153]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23jy07-49]
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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, 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
[[Page 40153]]
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 21, 2007.
ADDRESSES: You may submit comments, identified by FR 1374:7100-0302; or
FR 2436: 7100-0286, by any of the following methods:
Agency Web Site: http://www.federalreserve.gov Follow the instructions for submitting comments at http://www.federalreserve.gov/.
.
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,
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, N.W.) between 9:00
a.m. and 5:00 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 proposed form and
instructions, the Paperwork Reduction Act Submission, 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.
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: Intermittent Survey of Businesses
Agency form number: FR 1374
OMB control number: 7100-0302
Frequency: on occasion
Reporters: businesses
Annual reporting hours: 205
Estimated average hours per response: 15 minutes
Number of respondents: 250
General description of report: This information collection is
voluntary (12 U.S.C. Sec. Sec. 225a and 263) and may be given
confidential treatment (5 U.S.C. Sec. 552(b)(4)).
Abstract: The survey data are used by the Federal Reserve to gather
information specifically tailored to the Federal Reserve's policy and
operational responsibilities. There are two parts to this event-
generated survey. First, the Federal Reserve Banks survey business
contacts as economic developments warrant. Currently, they conduct
these surveys two times per year, with approximately 120 business
respondents for each survey (about ten per Reserve Bank). Usually,
these surveys are conducted by Reserve Bank economists telephoning or
emailing purchasing managers, economists, or other knowledgeable
individuals at selected, relevant businesses. The frequency and content
of the questions, as well as the businesses contacted, vary depending
on changing developments in the economy. Second, economists at the
Board survey business contacts by telephone, inquiring about current
business conditions. Historically, these surveys have been conducted
biweekly, with approximately ten respondents for each survey.
Current actions: The Federal Reserve proposes to revise the
frequency of both parts of the survey in response to recent changes in
the demand for these data by the Board members. The Reserve Bank part
of the survey would be conducted as economic events dictate (about
three times per year). The Board part of the survey would be conducted
on an event-generated basis, no more than ten times per year. In
addition, the Federal Reserve proposes to increase the number of
respondents for the Reserve Bank part of the survey from 120 to 240
(twenty per Reserve Bank).
Proposal to approve under OMB delegated authority the extension for
three years, without revision, of the following reports:
Report title: Semiannual Report of Derivatives Activity
Agency form number: FR 2436
OMB control number: 7100-0286
Frequency: Semiannually
Reporters: U.S. dealers of over-the-counter derivatives
Annual reporting hours: 2,100
Estimated average hours per response: 150
Number of respondents: 7
General description of report: This information collection is
voluntary (12 U.S.C. Sec. Sec. 225a, 263, 348a, and 353-359) and is
given confidential treatment (5 U.S.C. Sec. 552(b)(4)).
Abstract: Data are collected on notional amounts and gross market
values of outstanding OTC derivatives contracts for broad categories of
market risk: foreign exchange, interest rate, equities, commodities,
and credit. For the different types of market risk except commodities,
further detail is collected on the underlying market risk of each
contract-- the underlying currency, equity market, or reference entity
(borrower). This collection of information complements the triennial
Central Bank Survey of Foreign Exchange and Derivatives Market Activity
(FR 3036; OMB No. 7100-0285). The FR 2436 collects similar data on the
outstanding volume of derivatives, but not on derivatives turnover. The
Federal Reserve conducts both surveys in coordination with other
central banks and forwards the aggregated data furnished by U.S.
reporters to the Bank for International Settlements (BIS), which
publishes global market statistics that are aggregations of national
data.
Board of Governors of the Federal Reserve System, July 18, 2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-14131 Filed 7-20-07; 8:45 am]
BILLING CODE 6210-01-S