Agency information collection activities: Announcement of Board approval under delegated authority and submission to OMB

[Federal Register Volume 64, Number 196 (Tuesday, October 12, 1999)]
[Notices]
[Pages 55289-55290]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-26415]


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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
    Background. Notice is hereby given of the final approval of 
proposed

[[Page 55290]]

information collections by the Board of Governors of the Federal 
Reserve System (Board) under OMB delegated authority, as per 5 CFR 
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). Board-approved collections of information are incorporated 
into the official OMB inventory of currently approved collections of 
information. Copies of the OMB 83-Is and 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.
FOR FURTHER INFORMATION CONTACT:
Chief, Financial Reports Section--Mary M. West--Division of Research 
and Statistics, Board of Governors of the Federal Reserve System, 
Washington, DC 20551 (202-452-3829); OMB Desk Officer--Alexander T. 
Hunt--Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 3208, 
Washington, DC 20503 (202-395-7860).
    Final approval under OMB delegated authority of the extension for 
three years, with revision of the following reports:
    1. Report title: Application for a Foreign Organization to Become a 
Bank Holding Company.
    Agency form number: FR Y-1f.
    OMB Control number: 7100-0119.
    Frequency: Event-generated.
    Reporters: Foreign Banking Organizations.
    Annual reporting hours: 280 hours.
    Estimated average hours per response: 70 hours.
    Number of respondents: 4 foreign banking organizations.
Small businesses are not affected.
    General description of report: This information collection is 
mandatory (12 U.S.C. 1842(a) and 1844(a) and (c) and by Regulation Y 
(12 CFR 225.5(a) and 225.11(f)). The information provided in the 
application is not confidential unless the applicant specifically 
requests it and the Board approves the request.
    Abstract: Under the Bank Holding Company Act, submission of this 
application is mandatory for any company organized under the laws of a 
foreign country seeking initial entry into the United States through 
the establishment or acquisition of a U.S. subsidiary bank. Applicants 
provide financial and managerial information and must discuss the 
competitive effects of the proposed transaction and how the proposed 
transaction would enhance the convenience and needs of the community to 
be served.
    The Board approved several revisions to the FR Y-1f, including 
clarifying the application to improve consistency with the FR Y-3 and 
other types of applications filed by foreign banks, deleting items not 
necessary for all applications of this type, and adding an item on 
reserve for loan losses. Also, several minor clarifications would be 
made to the instructions, including the elimination of any outdated 
references.
    2. Report title: Consumer Satisfaction Questionnaire.
    Agency form number: FR 1379.
    OMB Control number: 7100-0135.
    Frequency: Event-generated.
    Reporters: Consumers.
    Annual reporting hours: 60 hours.
    Estimated average hours per response: 20 minutes.
    Number of respondents: 180 consumers.
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (15 U.S.C. 57 (a)(f)(1)) and is not given confidential 
treatment; however, some respondents may provide information not 
specifically solicited on the form, which may be exempt from disclosure 
under the Freedom of Information Act (5 U.S.C. 552 (b)(4), (b)(6), and 
(b)(7)).
    Abstract: The FR 1379 is used to determine whether complainants are 
satisfied with the way the Federal Reserve System handled their 
complaints and to solicit suggestions for improving the complaint-
handling process. The revised questionnaire was designed to collect 
more details related to the information requested in the previous 
questionnaire and to capture information about the demographic 
characteristics of consumers who file complaints about state member 
banks. Previously, the questionnaire was sent to consumers whose 
complaints against state member banks were referred by the Board of 
Governors to the appropriate Federal Reserve Bank for resolution. The 
Board is extending distribution of the questionnaire to all consumers 
who have complaints against state member banks.

    Board of Governors of the Federal Reserve System, October 1, 
1999.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 99-26415 Filed 10-8-99; 8:45 am]
Billing Code 6210-01-F