Report of Foreign (Non-U.S.) Currency Deposits

Forms and Documents

Document Name	Status
Form FR 2915 Report of Foreign (Non-U.S.) Currency Deposits Form	Modified
FR2915_20120522_83c.pdf Justification for No Material/Nonsubstantive Change	2012-05-22

IC Document Collections

IC ID	Document Title	Status
43335	Report of Foreign (Non-U.S.) Currency Deposits Form	Modified

ICR Details

OMB Control No: 7100-0237	ICR Reference No: 201205-7100-006
Status: Historical Active	Previous ICR Reference No: 200907-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR 2915
Title: Report of Foreign (Non-U.S.) Currency Deposits
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/19/2012
	Date Received in OIRA: 07/19/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2012	09/30/2012	09/30/2012
Responses	568	0	460
Time Burden (Hours)	284	0	230
Cost Burden (Dollars)	0	0	0

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Abstract: All FR 2900 respondents, both weekly and quarterly, that offer deposits denominated in foreign currencies at their U.S. offices file the FR 2915. The FR 2915 was implemented in January 1990 following the decision by the Federal Reserve in late 1988 not to object to issuance of foreign currency deposits at depository institutions in the United States after December 31, 1989. A procedure for converting the value of such deposits into dollars for reporting purposes also was established. Deposits denominated in foreign currencies are included on the FR 2900 for the purposes of calculating reserve requirements; however, such deposits are not included in the monetary aggregates. For this reason, the data collected on the FR 2915 are used to net foreign currency-denominated deposits from the FR 2900 data in order to exclude them from measures of the monetary aggregates. The FR 2915 is the only source of data on such deposits.

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Authorizing Statute(s): US Code: 12 USC 248(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 347(d) Name of Law: Federal Reserve Act
   US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 34577	07/16/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 48967	09/25/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Report of Foreign (Non-U.S.) Currency Deposits	FR 2915	Report of Foreign (Non-U.S.) Currency Deposits

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	568	460	0	0	108	0
Annual Time Burden (Hours)	284	230	0	0	54	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden hours is due to a increase in the number of respondents.

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Annual Cost to Federal Government: $19,024

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/19/2012

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