83 FR 22486 - Agency information collection activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 94 (May 15, 2018)

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Quarterly Report of Assets and Liabilities of Large Foreign Offices of U.S. Banks (FR 2502q; OMB No. 7100-0079).

[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22486-22487]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-10266]


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FEDERAL RESERVE SYSTEM


Agency information collection activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Quarterly Report of Assets and Liabilities of Large Foreign Offices of 
U.S. Banks (FR 2502q; OMB No. 7100-0079).

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC, 20551 (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--Office of Information and 
Regulatory Affairs, 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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. 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 instrument(s) 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.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Report:

    Report title: Quarterly Report of Assets and Liabilities of Large 
Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Respondents: U.S. commercial banks, bank holding companies, 
including financial holding companies, and banking Edge and agreement 
corporations (U.S. banks) for their large branches and banking 
subsidiaries that are located in the United Kingdom or the Caribbean.
    Estimated number of respondents: 27.
    Estimated average hours per response: 1.
    Estimated annual burden hours: 108.
    General description of report: The FR 2502q collects, for each 
reporting office, claims on and liabilities to residents of the United 
States and of all countries as of each quarter-end. Additional details 
are collected about positions vis-[agrave]-vis U.S. residents. 
Positions vis-[agrave]-vis other non-U.S. offices of the parent bank 
and positions arising from derivatives contracts are also broken out. 
The data are used in constructing a piece of the Financial Accounts of 
the United States that are compiled by the Board and in preparing the 
U.S. International Transactions Accounts and the International 
Investment Position that are compiled by the Bureau for Economic 
Analysis (BEA), an agency of the Department of Commerce.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information in the 2502q from (1) bank holding companies 
pursuant to section 5 of the Bank Holding Company Act (12 U.S.C. 
1844(c)), which authorizes the Board to require a bank holding company 
and any subsidiary to submit reports, (2) Edge and agreement 
corporations pursuant to section 25A(17) of the Federal Reserve Act 
(``FRA'') (12 U.S.C. 625), which authorizes the Board to require Edge 
and agreement corporations to make reports to the Board, and (3) 
depository institutions pursuant to section 11(a)(2) of the FRA

[[Page 22487]]

(12 U.S.C. 248(a)(2)), which authorizes the Board to require reports 
from each member bank as it may deem necessary and authorizes the Board 
to prescribe reports of liabilities and assets from insured depository 
institutions to enable the Board to discharge its responsibility to 
monitor and control monetary and credit aggregates. The FR 2502q report 
is mandatory. The information from this collection would not be 
accorded confidential treatment because release of the information is 
not likely to result in substantial harm to the competitive position of 
the respondents. If confidential treatment is requested by a 
respondent, the Board will review the request to determine if 
confidential treatment is appropriate.
    Current actions: On February 22, 2018, the Federal Reserve 
published a notice in the Federal Register (83 FR 7725) requesting 
public comment for 60 days on the extension, without revision, of the 
Quarterly Report of Assets and Liabilities of Large Foreign Offices of 
U.S. Banks (FR 2502q; OMB No. 7100-0079). The comment period for this 
notice expired on April 23, 2018. The Federal Reserve did not receive 
any comments.

    Board of Governors of the Federal Reserve System, May 9, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10266 Filed 5-14-18; 8:45 am]
BILLING CODE 6210-01-P