81 FR 1421 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 81, Issue 7 (January 12, 2016)

On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board of Governors of the Federal Reserve System (Board) its approval authority under the Paperwork Reduction Act (PRA), pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board under conditions set forth in 5 CFR 1320 Appendix A.1. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instruments are placed into OMB's public docket files. The Federal Reserve 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.

[Federal Register Volume 81, Number 7 (Tuesday, January 12, 2016)]
[Notices]
[Pages 1421-1422]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00394]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers 
to collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instruments are placed into OMB's public docket files. The 
Federal Reserve 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.

DATES: Comments must be submitted on or before March 14, 2016.

ADDRESSES: You may submit comments, identified by FR 3033s by any of 
the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue NW., 
Washington, DC 20551.
    All public comments are available from the Board's Web site at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 
9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235 725 17th Street NW., Washington, DC 20503 or by 
fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of 
the Chief Data Officer, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: 

Request for Comment on Information Collection Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, along with an analysis of comments and 
recommendations received, will be submitted to the Board for final 
approval under OMB delegated authority. Comments are invited on the 
following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection, 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 collection 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.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following report:
    Report title: Survey of Finance Companies.
    Agency form number: FR 3033s.
    OMB control number: 7100-0277.
    Frequency: Every five years.
    Reporters: Finance companies and mortgage companies.

[[Page 1422]]

    Estimated annual reporting hours: 1,800 hours.
    Estimated average hours per response: 1.5 hours.
    Number of respondents: 1,200.
    General description of report: Section 2A of the Federal Reserve 
Act (``FRA'') requires that the Federal Reserve Board and the Federal 
Open Market Committee maintain long run growth of the monetary and 
credit aggregates commensurate with the economy's long run potential to 
increase production, so as to promote effectively the goals of maximum 
employment, stable prices, and moderate long-term interest rates. (12 
U.S.C. 225a). Under section 12A of the FRA, the Federal Open Market 
Committee is required to implement regulations relating to the open 
market operations conducted by Federal Reserve Banks with a view to 
accommodating commerce and business and with regard to their bearing 
upon the general credit situation of the country. (12 U.S.C. 263). 
Section 14 of the FRA authorizes the Reserve Banks, under rules and 
regulations prescribed by the Board, to engage in open market 
operations. (12 U.S.C. 355-59).
    Abstract: The Federal Reserve proposes to conduct, with revision, 
the second stage of a two-stage survey of finance companies that is 
conducted every five years (the ``quinquennial''). The second stage of 
the quinquennial is the FR 3033s. The first stage of the quinquennial, 
the Census of Finance Companies (FR 3033p) was in May 2015 sent to all 
companies that met the criteria developed to identify the potential 
universe of domestic finance companies. From the universe of finance 
companies determined by the FR 3033p, a stratified random sample of 
3,000 finance companies has been drawn for the FR 3033s. The survey 
will be sent on March 21, 2016, and will collect detailed information, 
as of December 31, 2015, from both assets and liability sides of the 
respondents' balance sheets, along with income and expenses, the number 
of accounts and offices, and the small-business credit they extend, if 
any. The data collected from this voluntary survey will be used for two 
purposes: To benchmark the consumer and business finance series 
collected on the monthly Domestic Finance Company Report of 
Consolidated Assets and Liabilities (FR 2248; OMB No. 7100-0005) and to 
increase the Federal Reserve's understanding of an important part of 
the financial system.
    Current Actions: Board staff proposes to revise the FR 3033s by 
adding a section to solicit information from the finance companies on 
income and expenses, number of accounts and offices, and small business 
credit they extend.

    Board of Governors of the Federal Reserve System, January 7, 
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-00394 Filed 1-11-16; 8:45 am]
BILLING CODE 6210-01-P