[Federal Register Volume 59, Number 247 (Tuesday, December 27, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-31716] [[Page Unknown]] [Federal Register: December 27, 1994] ======================================================================= ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Agency Forms Under Review AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice. ----------------------------------------------------------------------- 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 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 OMB 83I 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 January 26, 1995. 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 section 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 (OMB 83I), 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 (TDD) 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: Annual Survey of Eligible Bankers Acceptances Agency form number: FR 2006 OMB Docket number: 7100-0055 Frequency: Annually Reporters: U.S. commercial banks, U.S. branches and agencies of foreign banks and Edge and agreement corporations Annual reporting hours: 65 Estimated average hours per response: 0.65 Number of respondents: 101 Small businesses are not affected. General description of report: This information collection is voluntary [12 U.S.C. Secs. 248(a), 625, and 3105(b)] and is given confidential treatment [5 U.S.C. Sec. 552(b)(4)]. This report provides detailed information on eligible U.S. dollar acceptances that are payable in the United States. The data are used for constructing the monetary aggregates and a measure of short-and intermediate-term business credit and have been relied upon to provide information to the Federal Reserve's Open Market Trading Desk. Abstract: The Federal Reserve proposes to reduce the reporting frequency from once a month to once a year, and to eliminate nine of the thirteen items on the report. The panel selection criterion for future panel additions would change from the 100 most active issuers to those whose acceptances outstanding exceed $50 million on their quarterly condition reports. The proposed revisions would reduce the annual reporting burden for this report by 97 percent. 2. Report title: Notice by Financial Institutions of, and Termination of, Activities as a Government Securities Broker or Government Securities Dealer Agency form number: FR G-FIN and FR G-FINW OMB Docket number: 7100-0224 Frequency: On occasion Reporters: State member banks, foreign banks, state-chartered branches and agencies of foreign banks, and commercial lending companies owned or controlled by foreign banks Annual reporting hours: 37 Estimated average hours per response: 1 Number of respondents: 37 Small businesses are affected. General description of report: This information collection is mandatory [15 U.S.C. Sec. 78o-5(a)(1)(B)(ii)] and is not given confidential treatment. Abstract: Each financial institution that acts as a government securities broker or dealer is required to notify its appropriate federal regulatory agency of its broker-dealer activities by filing an FR G-FIN, unless exempted from the notice requirement by Treasury Department regulation. Financial institutions that have previously filed an FR G-FIN and that have terminated their broker-dealer activities must notify their appropriate federal regulatory agency by filing an FR G-FINW. The revisions involve clarifying the instructions as to the appropriate regulatory authority for various categories of government securities brokers and dealers to reflect the Government Securities Act Amendments of 1993. 3. Report title: Uniform Application for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer; Uniform Termination Notice for Municipal Securities Principal or Municipal Securities Representative Associated with a Bank Municipal Securities Dealer Agency form number: FR MSD-4, MSD-5 OMB Docket number: 7100-0100, 7100-0101 Frequency: On occasion Reporters: State member banks who engage in activities as municipal securities dealers, and persons who are or seek to be associated with such dealers as municipal securities principals or representatives Annual reporting hours: 303, 33 Estimated average hours per response: 2.75, 0.25 Number of respondents: 110, 133 Small businesses are not affected. General description of report: This information collection is mandatory [15 U.S.C. Secs. 78o-4(b)(2)(A) and 78o-4(c)(5)] and is given confidential treatment [5 U.S.C. Sec. 552(b)(6)]. Abstract: The filing of this application is required of a Municipal Securities Dealer Bank (MSD) and a person associated with a MSD, prior to such person functioning in a professional capacity. This application serves to verify compliance with the rules of the Municipal Securities Rulemaking Board and with related securities and banking laws. It is also used as a source document for entry into an interagency computer system of records. The MSD-5 notice must be filed within 30 days after a person associated in a professional capacity with a bank municipal securities dealer terminates employment. The notice is a compliance vehicle for rules of the Municipal Securities Rulemaking Board and for related securities and banking laws. It is also a source document for updating information on an interagency computer system of records. The proposed revisions involve changing the phrasing of one item on the FR MSD-4. 4. Report title: Uniform Form for Registration as a Transfer Agent and for Amendment to Registration Agency form number: FR TA-1 OMB Docket number: 7100-0099 Frequency: On occasion Reporters: State member banks, bank holding companies, and nondeposit trust company subsidiaries of bank holding companies Annual reporting hours: 19 Estimated average hours per response: 0.53 Number of respondents: 36 Significant effect on small businesses is not expected. General description of report: This information collection is mandatory [Section 17A(c) of the Securities Exchange Act of 1934; and 12 CFR 208.8(f)(2)] and is not given confidential treatment. Abstract: This interagency form fulfills the statutory registration requirements for entities acting as transfer agents and enables certain basic information changes concerning the transfer agents to become known by the supervisory agencies. Minor changes to the form are proposed to clarify the reporting of information relative to the location(s) where transfer agent activities are conducted and relative to those instances where transfer agents contract to either perform transfer activities for others or have transfer activities performed for themselves. Proposal to approve under OMB delegated authority the extension, without revision, of the following report: 1. Report title: Notice Claiming Status as an Exempt Transfer Agent Agency form number: FR 4013 OMB Docket number: 7100-0137 Frequency: On occasion Reporters: State member banks, bank holding companies, and trust company subsidiaries of bank holding companies that are subject to supervision by the Federal Reserve Board Annual reporting hours: 20 Estimated average hours per response: 2 Number of respondents: 10 Small businesses are not affected. General description of report: This information collection is authorized by law (Sec. 17A(c)(1) of the Securities Exchange Act of 1934, 15 U.S.C. Sec. 78q-1(c)(1) as amended by the Securities Acts Amendments of 1975) and is voluntary. The collection of the data by the Federal Reserve from state member banks, subsidiaries of state member banks, bank holding companies, and subsidiaries of bank holding companies (except national banks and state nonmember banks that are insured by the FDIC) is authorized by law (15 U.S.C. Sec. 78c(a)(34)(B)(ii)). Individual respondent data are not regarded as confidential. Abstract: This voluntary notice provides a method for state member banks, bank holding companies, and trust companies that are subject to Federal Reserve supervision and that are engaged as a transfer agent on behalf of an issuer of securities to claim exemption from several of the Securities and Exchange Commission's rules applicable to registered transfer agents. By order of the Board of Governors of the Federal Reserve System, December 20, 1994. William W. Wiles, Secretary of the Board. [FR Doc. 94-31716 Filed 12-23-94; 8:45am] BILLING CODE 6210-01-P