90 FR 58 pgs. 13863-13864 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Type: NOTICEVolume: 90Number: 58Pages: 13863 - 13864
Pages: 13863, 13864FR document: [FR Doc. 2025-05233 Filed 3-26-25; 8:45 am]
Agency: Federal Reserve System
Official PDF Version: PDF Version
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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, with revision, the Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks (FR 2644; OMB No. 7100-0075).
DATES:
The revisions are effective April 2, 2025.
FOR FURTHER INFORMATION CONTACT:
[top] Federal Reserve Board Clearance Officer-Nuha Elmaghrabi-Office of the Chief Data Officer, Board of Governors of the Federal Reserve
Office of Management and Budget (OMB) Desk Officer for the Federal Reserve Board, 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, OMB delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. The OMB inventory, as well as copies of the PRA Submission, supporting statements (which contain more detailed information about the information collections and burden estimates than this notice), and approved collection of information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal Reserve Board's public website at https://www.federalreserve.gov/apps/reportingforms/review or may be requested from the agency clearance officer, whose name appears above. On the page displayed at the link above, you can find the supporting information by referencing the collection identifier, FR 2644.
Final Approval Under OMB Delegated Authority of the Extension for Three Years, With Revision, of the Following Information Collection
Collection title: Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks.
Collection identifier: FR 2644.
OMB control number: 7100-0075.
General description of collection: The FR 2644 is a balance sheet report that is collected as of each Wednesday from an authorized stratified sample of 850 domestically chartered commercial banks and U.S. branches and agencies of foreign banks. The FR 2644 is the only source of high-frequency data used in the analysis of current banking developments. The FR 2644 collects sample data that are used to estimate universe levels for the entire commercial banking sector in conjunction with data from the quarterly commercial bank Consolidated Reports of Condition and Income (FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100-0036) and Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002; OMB No. 7100-0032) (Call Reports). Data from the FR 2644 and the Call Reports are utilized in construction of weekly estimates of U.S. bank credit, balance sheet data for the U.S. commercial banking sector, and sources and uses of banks' funds, and to analyze current banking developments, including the monitoring of broad credit and funding conditions. The Board publishes the data in aggregate form in the weekly H.8 statistical release, Assets and Liabilities of Commercial Banks in the United States, which is followed closely by other government agencies, the banking industry, financial press, and other users. The H.8 release provides a balance sheet for the commercial banking industry as a whole as well as disaggregated data for three bank groups: large domestically chartered banks, small domestically chartered banks, and U.S. branches and agencies of foreign banks. The data are also used in constructing the commercial bank component of the Federal Reserve's G.19 release, Consumer Credit, and the Federal Reserve Bank of New York's Reserve Demand Elasticity.
Frequency: Weekly, monthly.
Respondents: Domestically chartered commercial banks, U.S. branches and agencies of foreign banks.
Total estimated number of respondents: 850.
Estimated average hours per response: 2.45.
Total estimated change in burden: (57,722).
Total estimated annual burden hours: 50,568.
Current actions: On November 15, 2024, the Board published a notice in the Federal Register (89 FR 90288) requesting public comment for 60 days on the extension, with revision, of the FR 2644. The Board proposed to revise the FR 2644 by allowing banks under $5 billion in total assets as of the previous June 30 Call Report the option of reporting one week per month with data as of the first Wednesday of the month. The comment period for this notice expired on January 14, 2025. The Board did not receive any comments. The revisions will be implemented as proposed.
Board of Governors of the Federal Reserve System, March 24, 2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-05233 Filed 3-26-25; 8:45 am]
BILLING CODE 6210-01-P