Report of Selected Money Market Rates

Forms and Documents

Document	Type	Status	Availability
Form FR 2420 International Banking Facilities	Form	Modified	Repair queued
Form FR 2420 U.S. branches and agencies of foreign banks	Form	Modified	Repair queued
Form FR 2420 Commercial banks and savings associations	Form	Modified	Repair queued
FR2420_20180907_omb.pdf	Supporting Statement A	Uploaded 2018-09-07	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
217203	Significant banking organizations	Instruction	Modified
217202	International Banking Facilities	Form	Modified
208358	U.S. branches and agencies of foreign banks	Form	Modified
208356	Commercial banks and savings associations	Form	Modified

ICR Details

OMB Control No: 7100-0357	ICR Reference No: 201807-7100-016
Status: Active	Previous ICR Reference No: 201803-7100-020
Agency/Subagency: FRS	Agency Tracking No: FR 2420
Title: Report of Selected Money Market Rates
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/07/2018
	Date Received in OIRA: 09/07/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	36 Months From Approved	09/30/2018
Responses	66,500	0	66,500
Time Burden (Hours)	103,300	0	103,300
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2420 is a transaction-based report that collects daily liability data on federal funds purchased, selected borrowings from non-exempt entities, Eurodollar transactions, and time deposits and certificates of deposits (CDs) from (1) domestically chartered commercial banks and savings associations that have $18 billion or more in total assets as well as those that have total assets above $5 billion but less than $18 billion and meet the activity threshold, (2) U.S. branches and agencies of foreign banks with total third-party assets of $2.5 billion or more, and (3) significant banking organizations that are active participants in money markets. The FR 2420 also collects daily data on Eurodollar transactions from International Banking Facilities (IBFs) of the above-referenced institutions. The FR 2420 data are used in the publication of the effective federal funds rate (EFFR) and overnight bank funding rate (OBFR) and in analysis of current money market conditions.

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Authorizing Statute(s): US Code: 12 USC 248(a)(2) Name of Law: Federal Reserve Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act
   US Code: 12 USC 324 Name of Law: Federal Reserve 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:
	83 FR 23276	05/18/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 40770	08/16/2018
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
U.S. branches and agencies of foreign banks	FR 2420	Report of Selected Money Market Rates
Commercial banks and savings associations	FR 2420	Report of Selected Money Market Rates
International Banking Facilities	FR 2420	Report of Selected Money Market Rates
Significant banking organizations	FR 2420	Report of Selected Money Market Rates

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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	66,500	66,500	0	0	0	0
Annual Time Burden (Hours)	103,300	103,300	0	0	0	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:

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Annual Cost to Federal Government: $661,100

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 09/07/2018

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