Federal Deposit
Insurance Corporation

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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

Federal Reserve System Federal Deposit Insurance Corporation

Agency Information Collection Activities: Submission for OMB
Review; Joint Comment Request

AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); and Federal
Deposit Insurance Corporation (FDIC).

ACTION: Submission for OMB Review; Joint Comment Request.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC
(collectively, the ``agencies'') hereby give notice that they plan to
submit to the Office of Management and Budget (OMB) requests for review
of the information collection systems described below. The Agencies 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.
On September 3, 1999, the agencies, under the auspices of the
Federal Financial Institutions Examination Council (FFIEC), requested
public comment for 60 days on the extension, without revision, of the
currently approved information collections: the Country Exposure Report
(FFIEC 009) and the Country Exposure Information Report (FFIEC 009a).
However, minor clarifications were proposed to the FFIEC 009
instructions.

DATES: Comments must be submitted on or before April 3, 2000.

ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments should refer to the OMB
control number(s) and will be shared among the agencies.
OCC: Written comments should be submitted to the Communications
Division, Office of the Comptroller of the Currency, 250 E Street, SW,
Third Floor, Attention: 1557-0100 (FFIEC 009 and 009a), Washington, DC
20219. In addition, comments may be sent by facsimile transmission to
(202) 874-5274, or by electronic mail to regs.comments@occ.treas.gov.
Comments will be available for inspection and photocopying at the OCC's
Public Reference Room, 250 E Street, SW, Washington, DC 20219 between 9
a.m. and 5 p.m. on business days. Appointments for inspection of
comments may be made by calling (202) 874-5043.
Board: Written comments should be addressed to Jennifer J. Johnson,
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 M-P-500 between 9 a.m. and 5 p.m., except as provided
in section 261.12 of the Board's Rules Regarding Availability of
Information, 12 CFR 261.12(a).
FDIC: Written comments should be addressed to Robert E. Feldman,
Executive Secretary, Attention: Comments/OES, Federal Deposit Insurance
Corporation, 550 17th Street, NW, Washington, DC 20429. Comments may be
hand-delivered to the guard station at the rear of the 550 17th Street
Building (located on F Street), on business days between 7 a.m. and 5
p.m. [FAX number (202) 898-3838; Internet address: comments@fdic.gov].
Comments may be inspected and photocopied in the FDIC Public
Information Center, Room 100, 801 17th Street, NW, Washington, DC,
between 9 a.m. and 4:30 p.m. on business days.
A copy of the comments may also be submitted to the OMB desk
officer for the agencies: Alexander T. Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or
a copy of an agency's submission may be obtained by contacting:
OCC: Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (202)
874-5090, Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 250 E Street, SW, Washington, DC 20219.
Board: Mary M. West, Chief, Financial Reports Section, (202) 452-
3829, Division of Research and Statistics, Board of Governors of the
Federal Reserve System, 20th and C Streets, NW, Washington, DC 20551.
Telecommunications Device for the Deaf (TDD) users may contact Diane
Jenkins, (202) 452-3544, Board of Governors of the Federal Reserve
System, 20th and C Streets, N.W., Washington, D.C. 20551.
FDIC: Steven F. Hanft, FDIC Clearance Officer, (202) 898-3907,
Office of the Executive Secretary, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

Proposal To Extend for Three Years With Minor Instructional
Clarifications the Following Currently Approved Collections of
Information

Report Title: Country Exposure Report/Country Exposure Information
Report.

[[Page 11634]]

Form Number: FFIEC 009 and FFIEC 009a.
Frequency of Response: Quarterly.
Affected Public: Business or other for profit.
For OCC:
OMB Number: 1557-0100.
Estimated Number of Respondents: 50 (FFIEC 009); 50 (FFIEC 009a).
Estimated Average Time per Response: 30 burden hours (FFIEC 009);
5.25 burden hours (FFIEC 009a).
Estimated Total Annual Burden: 6,000 burden hours (FFIEC 009);
1,050 burden hours (FFIEC 009a).
For Board:
OMB Number: 7100-0035.
Estimated Number of Respondents: 39 (FFIEC 009); 16 (FFIEC 009a).
Estimated Average Time per Response: 30 burden hours (FFIEC 009);
5.25 burden hours (FFIEC 009a).
Total Annual Burden: 4,680 burden hours (FFIEC 009); 336 burden
hours (FFIEC 009a).
For FDIC:
OMB Number: 3064-0017.
Estimated Number of Respondents: 35 (FFIEC 009); 35 (FFIEC 009a).
Estimated Average Time per Response: 30 burden hours (FFIEC 009);
5.25 burden hours (FFIEC 009a).
Estimated Total Annual Burden: 4,200 burden hours (FFIEC 009); 735
burden hours (FFIEC 009a).

General Description of Reports

This information collection (FFIEC 009 and FFIEC 009a) is
mandatory: 12 U.S.C. 161 and 1817 (for national banks); 12 U.S.C.
248(a), 1844(c), and 3906 (for state member banks and bank holding
companies); and 12 U.S.C. 1817 and 1820 (for insured state nonmember
commercial and savings banks). The FFIEC 009 information collection is
given confidential treatment (5 U.S.C. 552(b)(4) and (b)(8)). The FFIEC
009a information collection is not given confidential treatment. Small
businesses (i.e., small banks) are not affected.

Abstract

The Country Exposure Report (FFIEC 009) is filed quarterly with the
agencies and provides information on international claims of U.S. banks
and bank holding companies that is used for supervisory and analytical
purposes. The information is used to monitor country exposure of banks
to determine the degree of risk in their portfolios and the possible
impact on U.S. banks of adverse developments in particular countries.
The Country Exposure Information Report (FFIEC 009a) is a supplement to
the FFIEC 009 and provides publicly available information on material
foreign country exposures (all exposures to a country in excess of one
percent of total assets or 20 percent of capital, whichever is less) of
U.S. banks and bank holding companies that file the FFIEC 009 report.
Reporting institutions must also furnish a list of countries in which
they have lending exposures above 0.75 percent of total assets or 15
percent of total capital, whichever is less. No changes are proposed to
the FFIEC 009 reporting forms or the FFIEC 009a reporting forms and
instructions. However, minor clarifications are proposed to the FFIEC
009 instructions.
Current actions: The agencies received one comment letter in
response to the notice published in the Federal Register on September
3, 1999 (64 FR 48453) requesting public comment on the extension
without revision, with minor clarification to the FFIEC 009
instructions for the treatment of credit derivatives. The commenter
supported an instructional clarification for the treatment of credit
derivatives and recommended specific language. In addition, the
commenter recommended the agencies clarify the treatment for securities
reverse repurchase agreements (resale agreements) in these information
collections.
After consideration of the comment letter, the agencies decided to
clarify the treatment of credit derivatives in the instructions
effective as of the June 30, 2000, report date. However, the agencies
determined that further study of the impact of alternative treatments
for resale agreements on these information collections is warranted.
The agencies will reconsider the need for a clarification on the
treatment of resale agreements after the issue has been studied
further.

Request for Comment

Comments are invited on:
a. Whether the information collections are necessary for the proper
performance of the agencies' functions, including whether the
information has practical utility;
b. The accuracy of the agencies' estimates of the burden of the
information collections, including the validity of the methodology and
assumptions used;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collections on
respondents, including through the use of automated collection
techniques or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide information.
Comments submitted in response to this notice will be shared among
the agencies. All comments will become a matter of public record.
Written comments should address the accuracy of the burden estimates
and ways to minimize burden including the use of automated collection
techniques or the use of other forms of information technology as well
as other relevant aspects of the information collection request.

Dated: February 23, 2000.
Mark J Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency.
Board of Governors of the Federal Reserve System, February 28, 2000.
Jennifer J. Johnson,
Secretary of the Board.

Dated at Washington, DC, this 16th day of February, 2000.