82 FR 37227 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 152 (August 9, 2017)

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to implement the voluntary Survey of Household Economics and Decisionmaking (FR 3077; OMB No. 7100-NEW). 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 152 (Wednesday, August 9, 2017)]
[Notices]
[Pages 37227-37228]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-16773]


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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 implement the voluntary Survey of 
Household Economics and Decisionmaking (FR 3077; OMB No. 7100-NEW). 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 October 10, 2017.

ADDRESSES: You may submit comments, identified by FR 3077, 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 Implementation of 
the Following Report

    Report title: Survey of Household Economics and Decisionmaking.
    Agency form number: FR 3077.

[[Page 37228]]

    OMB control number: 7100-NEW.
    Frequency: Quantitative Survey, annually; Qualitative Survey, 
occasionally.
    Respondents: Consumers.
    Estimated number of respondents: Quantitative Survey, 17,000 
respondents; Qualitative Survey, 30 respondents.
    Estimated average hours per response: Quantitative Survey, 0.47 
hours; Qualitative Survey, 2 hours.
    Estimated annual burden hours: Quantitative Survey, 7,990 hours; 
Qualitative Survey, 180 hours.
    General description of report: The information collected could be 
used for the Board's Report on the Economic Well-Being of U.S. 
Households, for Board studies or working papers, professional journals, 
the Federal Reserve Bulletin, testimony and reports to the Congress, or 
other vehicles. Such event-driven consumer data collections could also 
be used to inform Board policy, regulatory, supervisory and operational 
decisions.
    The Board anticipates that the SHED would include such topics as 
individuals' overall financial well-being, employment experiences, 
income and savings behaviors, economic preparedness, access to banking 
and credit, housing and living arrangement decisions, education and 
human capital, student loans, and retirement planning. The overall 
content of the SHED instrument would depend on changing economic, 
regulatory, or legislative developments as well as changes in the 
financial services industry.
    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 3077 to fulfill these obligations, these 
statutory provisions provide the legal authorization for the collection 
of information on the FR 3077. The FR 3077 is a voluntary survey.
    The ability of the Board to maintain the confidentiality of 
information provided by respondents to the FR 3077 will have to be 
determined on a case-by-case basis depending on the type of information 
provided for a particular survey. To the extent that a respondent's 
answers reveal information ``the disclosure of which would constitute a 
clearly unwarranted invasion of personal privacy,'' such information 
would likely be exempt from disclosure under exemption 6 of the Freedom 
of Information Act, (5 U.S.C. 552(b)(6)).
    Consultation outside the agency: The Board will consult with 
outside subject matter experts for specific questions, as needed.

    Board of Governors of the Federal Reserve System, August 4, 
2017.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2017-16773 Filed 8-8-17; 8:45 am]
 BILLING CODE 6210-01-P