Agency Forms Under Review

FEDERAL RESERVE SYSTEM

Agency Forms Under Review

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice.

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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 of

1980, as per 5 CFR 1320.9, 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 1320.9.

Board-approved collections of information will be incorporated into the

official OMB inventory of currently approved collections of

information. A copy of the SF 83 and supporting statement and the

approved collection of information instrument(s) will be placed into

OMB's public docket files. The following forms, 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 collection, along with an analysis of comments

and recommendations received, will be submitted to the Board for final

approval under OMB delegated authority.

DATES: Comments must be submitted on or before May 20, 1994.

ADDRESSES: Comments, which should refer to the OMB Docket number (or

Agency form number in the case of a new information collection that has

not yet been assigned an OMB number), should be addressed to Mr.

William W. Wiles, Secretary, Board of Governors of the Federal Reserve

System, 20th and C Streets, NW., 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, NW. Comments

received may be inspected in room B-1122 between 9 a.m. and 5 p.m.,

except as provided in Sec. 261.8 of the Board's Rules Regarding

Availability of Information, 12 CFR 261.8(a).

A copy of the comments may also be submitted to the OMB desk

officer for the Board: Milo Sunderhauf, 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, the

request for clearance (SF 83), supporting statement, instructions, 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, Federal Reserve Board Clearance

Officer (202-452-3829), Division of Research and Statistics, Board of

Governors of the Federal Reserve System, Washington, DC 20551. For the

hearing impaired only, Telecommunications Device for the Deaf (TTD)

Dorothea Thompson (202-452-3544), Board of Governors of the Federal

Reserve System, Washington, DC 20551.

Proposal to approve under OMB delegated authority the extension

with revisions of the following reports:

1. Report title: Applications for Membership in the Federal Reserve

System.

Agency form number: FR 2083, 2083A-2083E.

OMB Docket number: 7100-0046.

Frequency: On occasion.

Reporters: Commercial banks and certain mutual savings banks.

Annual reporting hours: 1,988.

Estimated average hours per response: 37.5.

Number of respondents: 53.

Small businesses are not affected.

General description of report: This information collection is

required [12 U.S.C. 321-328]. The information in the application is not

confidential; however, parts may be given confidential treatment at the

applicant's request [5 U.S.C. 552(b)(4)].

This application provides managerial, financial and structural data

necessary for the Federal Reserve System to evaluate a new or existing

bank's application for admission to membership in the Federal Reserve

System pursuant to criteria established by statute and regulation

(Regulation H). The revisions would standardize the format of certain

information and clarify the instructions.

2. Report title: Senior Loan Officer Opinion Survey on Bank Lending

Practices.

Agency form number: FR 2018.

OMB Docket number: 7100-0058.

Frequency: Up to six times per year.

Reporters: Large U.S. commercial banks and large U.S. branches and

agencies of foreign banks.

Annual reporting hours: 1,008.

Estimated average hours per response: 2.0.

Number of respondents: 84.

Small businesses are not affected.

General description of report: This information collection is

voluntary [12 U.S.C. 248(a), 263, 335, 3101, 3102, and 3105] and is

given confidential treatment [5 U.S.C. 552(b)(4)].

This survey collects qualitative information about changes in

business loan demand and various aspects of bank lending practices from

sixty large U.S. commercial banks. The proposed revision will add six

U.S. branches and agencies of foreign banks to the current panel. The

survey serves as a very important tool for monitoring and understanding

the evolution of lending practices at banks and developments in credit

markets generally.

3. Report title: Application for Prior Approval To Become a Bank

Holding Company, or for a Bank Holding Company to Acquire an Additional

Bank or Bank Holding Company.

Agency form number: FR Y-3.

OMB Docket number: 7100-0171.

Frequency: Event-generated.

Reporters: Corporations seeking to become bank holding companies,

or bank holding companies and state chartered banks that are members of

the Federal Reserve System.

Annual reporting hours: 27,383.

Estimated average hours per response: Section 3(a)(1): 48.5;

Section 3(a)(3) and 3(a)(5): 59.0.

Number of respondents: Pursuant to Section 3(a)(1): 196; Pursuant

to Section 3(a)(3) and 3(a)(5): 303.

Small businesses are affected.

General description of report: This report is required and is

authorized by law [12 U.S.C. 1842 (a)(1), (a)(3), and (a)(5)].

Individual respondent data are available to the public except any

portions which have been granted confidential treatment at the

applicant's request [5 U.S.C. 552(b) (4) and (8)].

This application provides systematic data on the structure of the

proposal on the formation of a bank holding company through acquisition

of one or more banks or the merger of two existing bank holding

companies, or for the prior approval of the acquisition of direct or

indirect ownership, control, or power to vote a certain percentage of

the voting shares of a bank or bank holding company. The application

collects financial and managerial information on the applicant and data

on competitive and public convenience factors. This report has been

renamed and now combines information formerly collected on the

Application for Prior Approval to Become a Bank Holding Company (FR Y-

1; OMB No. 7100-0119) and the Application for Prior Approval for a Bank

Holding Company to Acquire an Additional Bank or Bank Holding Company

(FR Y-2; OMB No. 7100-0171).

4. Report title: Application for Prior Written Consent to Effect a

Bank Merger, Consolidation, Acquisition of Assets or Assumption of

Deposit Liabilities.

Agency form number: FR 2070.

OMB Docket number: 7100-0266.

Frequency: On occasion.

Reporters: State chartered banks that are members of the Federal

Reserve System.

Annual reporting hours: 4,680.

Estimated average hours per response: 39.0.

Number of respondents: 120.

Small businesses are affected.

General description of report: This report is required by law [12

U.S.C. 1828(c)]. Parts may be given confidential treatment at the

applicant's request [5 U.S.C. 552(b)(4)].

This form provides information on the pro forma financial condition

of the applicant, a description of the proposed merger and the

advantages it offers to the public's needs and convenience. The form is

used by the Federal Reserve to evaluate the proposed merger as to

financial soundness, competitive acceptability and consistency with the

public interest.

This report represents the reinstatement of a previous information

collection of the same title, and incorporates information formerly

collected on the Application for Prior Approval for a Bank Holding

Company to Acquire an Additional Bank or Bank Holding Company (FR Y-2;

OMB No. 7100-0171).

Proposal to approve under OMB delegated authority of the extension,

without revision, of the following reports:

1. Report title: Domestic Branch Notification.

Agency form number: FR 4001.

OMB Docket number: 7100-0097.

Frequency: On occasion.

Reporters: State member banks.

Annual reporting hours: 415.

Estimated average hours per response: expedited notifications 0.5

hours; nonexpedited 1.0 hour.

Number of respondents: 684.

Small businesses are affected.

General description of report: This information collection is

required [12 U.S.C. 321] and is not given confidential treatment.

Whenever a state member bank wishes to establish a domestic branch,

it must receive the approval of the Federal Reserve System by filing a

domestic branch application, which is in the form of a letter addressed

to the appropriate Federal Reserve Bank.

2. Report title: Investment in Bank Premises Notification.

Agency form number: FR 4014.

OMB Docket number: 7100-0139.

Frequency: On occasion.

Reporters: State member banks.

Annual reporting hours: 117.

Estimated average hours per response: 0.5.

Number of respondents: 234.

Small businesses are affected.

General description of report: This information collection is

required [12 U.S.C. 371d] and is not given confidential treatment.

Whenever a new investment in bank premises by a state member bank

causes that bank's total dollar investment in bank premises to exceed

100 percent of the bank's capital stock account, the bank is required

to send an application to the appropriate Federal Reserve Bank

requesting permission from the Federal Reserve System to proceed.

3. Report title: Notice of Proposed Stock Redemption.

Agency form number: FR 4008.

OMB Docket number: 7100-0131.

Frequency: On occasion.

Reporters: Bank holding companies.

Annual reporting hours: 775.

Estimated average hours per response: 15.5.

Number of respondents: 50.

Small businesses are affected.

General description of report: This information collection is

required [12 U.S.C. 1844] and is not given confidential treatment;

however, parts may be given confidential treatment at the applicant's

request [5 U.S.C. 552(b) (4), and (8)].

The filing of this notice is required of a bank holding company

proposing to purchase or redeem its shares when the gross consideration

to be paid for such purchase or redemption is equal to 10 percent or

more of the company's consolidated net worth over any 12-month period.

4. Report title: Report on Terms of Credit Card Plans.

Agency form number: FR 2572.

OMB Docket number: 7100-0239.

Frequency: Semiannual.

Reporters: Financial institutions.

Annual reporting hours: 76.5.

Estimated average hours per response: .25.

Number of respondents: 153.

Small businesses are not affected.

General description of report: The Board is authorized to collect

the information contained in this report by Section 5 of the Fair

Credit and Charge Card Act of 1988 (Pub. Law No. 100-583, 102 Stat.

2960). Further, the Board may compel creditors to provide the

information contained on this report pursuant to Section 136 of the

Truth in Lending Act. (15 U.S.C. 1646(a)).

This semiannual report will collect credit card price and

availability information from the largest 153 issuers of bank credit

cards. Such issuers include commercial banks as well as thrift

organizations (savings and loan associations and savings banks). In

addition, the report will include any financial institution that

notifies the Federal Reserve Banks that they would like to participate.

Financial institutions wishing to file should contact the Federal

Reserve Bank located in their district. This information will be

assimilated into a report and made available to Congress and the public

on a semiannual basis.

5. Report title: Survey to Obtain Information on the Relevant

Market in Individual Merger Cases.

Agency form number: FR 2060.

OMB Docket number: 7100-0232.

Frequency: On occasion.

Reporters: Small businesses and consumers.

Annual reporting hours: 55.

Estimated average hours per response: 10 minutes for small

businesses, 6 minutes for consumers.

Number of respondents: 25 small businesses and 50 consumers per

survey.

Small businesses are affected.

General description of report: This information collection is

voluntary (12 U.S.C. 1828(c)) and is given confidential treatment (5

U.S.C. 552(b)(4) & (b)(6)).

This telephone survey is designed to determine from what sources

small businesses and consumers obtain financial services. The

information is needed for specific merger and acquisition applications

to determine relevant banking markets in the analysis of local market

competition.

6. Report title: Senior Financial Officer Survey.

Agency form number: FR 2023.

OMB Docket number: 7100-0223.

Frequency: Up to four times per year.

Reporters: Commercial banks, other depository institutions,

corporations or large money-stock holders.

Annual reporting hours: 240.

Estimated average hours per response: 1.0.

Number of respondents: 60.

Small businesses are not affected.

General description of report: This information collection is

voluntary (12 U.S.C. 225, 248(a) and 263) and the confidentiality will

be determined on a case-by-case basis.

The survey collects qualitative information about deposit

relationships and other aspects of bank funding practices from a

selection of commercial banks, or if appropriate, other depository

institutions, corporations or large money-stock holders. The survey

assists the Federal Reserve in its assessment of the monetary aggregate

and financial market conditions.

7. Report title: Application for Prior Approval to Engage Directly

or Indirectly in Certain Nonbanking Activities.

Agency form number: FR Y-4.

OMB Docket number: 7100-0121.

Frequency: Event-generated.

Reporters: Bank holding companies.

Annual reporting hours: 21,529.

Estimated average hours per response: Applications: 59.0;

Notifications: 1.5.

Number of respondents: Applications: 362. Notifications: 114 .

Small businesses are affected.

General description of report: This report if required and

authorized by law (12 U.S.C. 1844 4(c)). Individual respondent data are

available to the public except any portions granted confidential

treatment at applicant request (5 U.S.C. 552(b)(4) and (8)).

This form is completed by a bank holding company seeking prior

approval to acquire or retain the assets or shares of a nonbank

company. The application collects financial and managerial information

on the applicant and data on competitive and public convenience

factors.

8. Report title: Reports Related to Securities of State Member

Banks as Required by Regulation H.

Agency form number: N.A.

OMB Docket number: 7100-0091.

Frequency: On occasion, quarterly, and annually.

Reporters: State member banks with more than 500 shareholders and

more than $5 million in total assets.

Annual reporting hours: 2,835.

Estimated average hours per response: 6.75.

Number of respondents: 42.

Small businesses are not affected.

General description of report: This information collection is

mandatory (15 U.S.C. 78(i)) and is not given confidential treatment.

Since December 1987 state member banks that meet the shareholder

and total asset criteria have been required pursuant to Regulation H to

file the same securities forms and reports that bank holding companies

and non-bank entities use when they file directly with the Securities

and Exchange Commission. Some examples of such reports are Form 10-Q

quarterly reports, Form 10-K annual reports, and event-generated Form 3

and Form 4 reports.

Board of Governors of the Federal Reserve System, May 13, 1994.

William W. Wiles,

Secretary of the Board.

[FR Doc. 94-12192 Filed 5-18-94; 8:45 am]

BILLING CODE 6210-01-P