[Federal Register: August 7, 2007 (Volume 72, Number 151)]
[Notices]
[Page 44136-44138]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr07au07-49]
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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
[[Page 44137]]
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 October 9, 2007.
ADDRESSES: You may submit comments, identified by FR 1373a,b: 7100-
0301; or Regulation CC: 7100-0235, 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, 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 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, without revision, of the following reports:
1. Report title: Studies of Board Publications
Agency form number: FR 1373a,b
OMB control number: 7100-0301
Frequency: FR 1373a, one or two times per year; FR 1373b, small-
panel survey: five times per year; large-panel survey, three times per
year
Reporters: FR 1373a: community-based educators, key stakeholders,
and other educators who have previously requested consumer education
materials from the Federal Reserve; FR 1373b: current subscribers of
the publications being surveyed.
Annual reporting hours: FR 1373a: survey, 300 hours; panel
discussion, 68 hours. FR 1373b: small-panel, 80 hours; large-panel 300
hours.
Estimated average hours per response: FR 1373a: survey, 30 minutes;
panel discussion, 90 minutes. FR 1373b: small-panel, 15 minutes; large-
panel 15 minutes.
Number of respondents: FR 1373a: survey, 400; panel discussion, 45.
FR 1373b: small-panel, 64; large-panel, 400.
General description of report: This information collection is
voluntary. The FR 1373a study is authorized pursuant to the Federal
Trade Commission Improvement Act (15 U.S.C. Sec. 57a(f)); the FR 1373b
study is authorized pursuant to the Federal Reserve Act (12 U.S.C.
Sec. 248(i)). The specific information collected is not considered
confidential.
Abstract: The Federal Reserve uses the FR 1373a to: 1) conduct
periodic reviews and evaluations of the consumer education materials
and 2) develop and evaluate consumer education materials under
consideration for distribution. The FR 1373b data help the Federal
Reserve determine if it should continue to issue certain publications
and, if so, whether the public would like to see changes in the method
of information delivery, frequency, content, format, or appearance.
2. Report title: Disclosure Requirements in Connection with
Regulation CC (Expedited Funds Availability Act (EFAA))
Agency form number: Reg CC
OMB control number: 7100-0235
Frequency: Event-generated
Reporters: State member banks and uninsured state branches and
agencies of foreign banks
Annual reporting hours: 210,882 hours
Estimated average hours per response: Banks: Specific availability
policy disclosure and initial disclosures, 1 minute; notice in specific
policy disclosure, 3 minutes; notice of exceptions, 3 minutes;
locations where employees accept consumer deposits, 15 minutes; annual
notice of new automated teller machines (ATMs), 5 hours; ATM changes in
policy, 20 hours; notice of nonpayment, 1 minute; expedited recredit
for consumers, 15 minutes; expedited recredit for banks, 15 minutes;
consumer awareness, 1 minute. Consumers: expedited recredit claim
notice, 15 minutes.
Number of respondents: 1,105
General description of report: This information collection is
mandatory. Reg CC is authorized pursuant the EFAA, as amended, and the
Check 21 Act (12 U.S.C. Sec. 4008 and 12 U.S.C. 5014, respectively).
Because the Federal Reserve does not collect any information, no issue
of confidentiality arises. However, if, during a compliance examination
of a financial institution, a
[[Page 44138]]
violation or possible violation of the EFAA or the Check 21 Act is
noted then information regarding such violation may be kept
confidential pursuant to Section (b)(8) of the Freedom of Information
Act. 5U.S.C. Sec. 552(b)(8).
Abstract: Regulation CC requires banks to make funds deposited in
transaction accounts available within specified time periods, disclose
their availability policies to customers, and begin accruing interest
on such deposits promptly. The disclosures are intended to alert
customers that their ability to use deposited funds may be delayed,
prevent unintentional (and potentially costly) overdrafts, and allow
customers to compare the policies of different banks before deciding at
which bank to deposit funds. The regulation also requires notice to the
depositary bank and to a customer of nonpayment of a check. Model
disclosure forms, clauses, and notices are appended to the regulation
to ease compliance.
Board of Governors of the Federal Reserve System, August 2,
2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-15298 Filed 8-6-07; 8:45 am]
BILLING CODE 6210-01-S