"do I have to report an amount of $48USD foreign interest income from a saving account in foreign bank"
Yes you do. If you are subject to US taxes you are obligated to report your world-wide income, even if the income isn't reported to you on one of the US Government forms - 1099's of various sorts - used by US-based companies.
You can enter this interest income using the "Interest on 1099-INT " interview, reporting it "as if" you actually received a 1099-INT. Don't worry about somehow telling the IRS "I received a 1099-INT" when you didn't receive a 1099-INT. If you look at Schedule B where the interest is reported there's really no indication if a 1099-INT was received, or not.
The reporting of foreign financial assets is a separate and distinct issue from the reporting of income from foreign financial assets. You do need to report the income and, based on what you've said here, you're not subject to having to report those foreign financial assets.
Tom Young