82 FR 23249 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 97 (May 22, 2017)

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the voluntary Ongoing Intermittent Survey of Households (FR 3016; OMB No. 7100-0150). On June 15, 1984, the Office of Management and Budget (OMB) delegated to the Board authority under the Paperwork Reduction Act (PRA) to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies.

[Federal Register Volume 82, Number 97 (Monday, May 22, 2017)]
[Notices]
[Pages 23249-23250]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-10331]



[[Page 23249]]

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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the voluntary Ongoing Intermittent Survey of Households (FR 3016; OMB 
No. 7100-0150).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

DATES: Comments must be submitted on or before July 21, 2017.

ADDRESSES: You may submit comments, identified by FR 3016, 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: Ann E. Misback, 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 
3515, 1801 K Street (between 18th and 19th Streets NW) Washington, DC 
20006 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 Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following report:
    Report title: Ongoing Intermittent Survey of Households.
    Agency form number: FR 3016.
    OMB control number: 7100-0150.
    Frequency: Monthly.
    Respondents: Households and individuals.
    Estimated number of respondents: 500.
    Estimated average hours per response: 1.58 minutes.
    Estimated annual burden hours: 158 hours.
    General Description of Report: The Board uses this voluntary survey 
to obtain household-based information specifically tailored to the 
Board's policy, regulatory, and operational responsibilities. The Board 
primarily uses the survey to study consumer financial decisions, 
attitudes, and payment behavior. Currently, the University of 
Michigan's Survey Research Center (SRC) includes survey questions on 
behalf of the Board in an addendum to their regular bi-weekly Survey of 
Consumer Attitudes and Expectations. The SRC conducts the survey by 
telephone with a sample of 500 households and asks questions of special 
interest to the Board.
    Proposed revisions: The Board proposes to eliminate the Division of 
Consumer and Community Affairs and other divisions' SRC surveys, as 
well as non-SRC surveys, as these surveys have not been conducted since 
2010 and are not expected to be utilized in the next several years.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that 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). 
Because the Board and the Federal Open Market Committee use the 
information obtained on the FR 3016 to fulfill these

[[Page 23250]]

obligations, these statutory provisions provide the legal authorization 
for the collection of information on the FR 3016. The FR 3016 is a 
voluntary survey. No issue of confidentiality normally arises under the 
FR 3016, as names and any other characteristics that would permit 
personal identification of respondents are not reported to the Board. 
However, should the Board obtain such information, it would likely be 
exempt under exemption 6 of the Freedom of Information Act (5 U.S.C. 
552(b)(6)) to the extent that it includes ``personnel and medical files 
and similar files the disclosure of which would constitute a clearly 
unwarranted invasion of personal privacy.''

    Board of Governors of the Federal Reserve System, May 17, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-10331 Filed 5-19-17; 8:45 am]
 BILLING CODE 6210-01-P