The FR 2420 is a transaction-based
report that collects daily liability data on federal funds,
Eurodollar transactions, and certificates of deposits (CDs) from
(1) domestically chartered commercial banks and thrifts that have
$26 billion or more in total assets and (2) U.S. branches and
agencies of foreign banks with total third-party assets of $900
million or more. The FR 2420 data are used in the analysis of
current money market conditions and will allow the Federal Reserve
Bank of New York (FRBNY) to calculate and publish interest rate
statistics for selected money market instruments.
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:
(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;
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.