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

FEDERAL RESERVE SYSTEM

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

Page Range		37227-37228
FR Document		2017-16773

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 Issue 152 (Wednesday, August 9, 2017)

[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.

-----------------------------------------------------------------------

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

Federal Register / Vol. 82, No. 152 / Wednesday, August 9, 2017 / Notices 37227

specific cases in which a banking ACTION: Notice, request for comment. FOR FURTHER INFORMATION CONTACT: A
organization’s transactions were completed copy of the PRA OMB submission,
outside of policy requirements or a listing of SUMMARY: The Board of Governors of the including the proposed reporting form
specific deficiencies in technical modelling Federal Reserve System (Board) invites and instructions, supporting statement,
practices or data management requirements), comment on a proposal to implement
but this would be noted within the MRIA or and other documentation will be placed
the voluntary Survey of Household into OMB’s public docket files, once
MRA in the examination or inspection report.
Communications to supervised institutions Economics and Decisionmaking (FR approved. These documents will also be
about MRIAs and MRAs would specify a 3077; OMB No. 7100–NEW). On June made available on the Federal Reserve
timeframe within which the corrective action 15, 1984, the Office of Management and Board’s public Web site at: http://
is expected to be completed. The timeframe, Budget (OMB) delegated to the Board www.federalreserve.gov/apps/
at least initially, may require estimation authority under the Paperwork reportforms/review.aspx or may be
because the institution may first need to Reduction Act (PRA) to approve of and requested from the agency clearance
complete preliminary planning to establish assign OMB control numbers to
the timeframe for initiating and completing officer, whose name appears below.
collection of information requests and Federal Reserve Board Clearance
the corrective action. The timeframes for
requirements conducted or sponsored Officer—Nuha Elmaghrabi—Office of
MRAs are likely to become more precise over
time as planning evolves and circumstances by the Board. In exercising this the Chief Data Officer, Board of
make the completion of the MRAs more delegated authority, the Board is Governors of the Federal Reserve
urgent. directed to take every reasonable step to System, Washington, DC 20551 (202)
Matters Referred to the Board of Directors solicit comment. In determining 452–3829. Telecommunications Device
whether to approve a collection of for the Deaf (TDD) users may contact
Where significant weaknesses in an
information, the Board will consider all (202) 263–4869, Board of Governors of
institution’s board governance structure and
practices are identified, Federal Reserve comments received from the public and the Federal Reserve System,
examiners and supervisory staff would direct other agencies. Washington, DC, 20551.
such matters to the institution’s board for DATES: Comments must be submitted on SUPPLEMENTARY INFORMATION:
corrective action in the first instance.30 Such or before October 10, 2017.
weaknesses could include instances where Request for Comment on Information
ADDRESSES: You may submit comments,
the board does not provide effective oversight Collection Proposal
of senior management or fails to hold senior identified by FR 3077, by any of the
following methods: The Board invites public comment on
management accountable for fulfilling its
responsibilities. • Agency Web site: http:// the following information collection,
In addition, when senior management fails www.federalreserve.gov. Follow the which is being reviewed under
to take or ensure appropriate action is taken instructions for submitting comments at authority delegated by the OMB under
to correct material deficiencies or http://www.federalreserve.gov/apps/ the PRA. Comments are invited on the
weaknesses, Federal Reserve examiners and foia/proposedregs.aspx. following:
supervisory staff would escalate such matters • Federal eRulemaking Portal: http:// a. Whether the proposed collection of
to an institution’s board of directors or an information is necessary for the proper
executive-level committee of the board.31
www.regulations.gov. Follow the
instructions for submitting comments. performance of the Federal Reserve’s
* * * * * • Email: regs.comments@ functions; including whether the
By order of the Board of Governors of the federalreserve.gov. Include OMB information has practical utility;
Federal Reserve System, August 3, 2017. b. The accuracy of the Federal
number in the subject line of the
Margaret McCloskey Shanks, Reserve’s estimate of the burden of the
message.
proposed information collection,
Deputy Secretary of the Board. • FAX: (202) 452–3819 or (202) 452–
including the validity of the
[FR Doc. 2017–16735 Filed 8–8–17; 8:45 am] 3102.
methodology and assumptions used;
BILLING CODE 6210–01–P • Mail: Ann E. Misback, Secretary,
c. Ways to enhance the quality,
Board of Governors of the Federal
utility, and clarity of the information to
Reserve System, 20th Street and
be collected;
FEDERAL RESERVE SYSTEM Constitution Avenue NW., Washington, d. Ways to minimize the burden of
DC 20551. information collection on respondents,
Proposed Agency Information All public comments are available including through the use of automated
Collection Activities; Comment from the Board’s Web site at http:// collection techniques or other forms of
Request www.federalreserve.gov/apps/foia/ information technology; and
AGENCY: Board of Governors of the proposedregs.aspx as submitted, unless e. Estimates of capital or startup costs
Federal Reserve System. modified for technical reasons. and costs of operation, maintenance,
Accordingly, your comments will not be and purchase of services to provide
30 For foreign banking organizations (FBOs) that edited to remove any identifying or information.
do not have a U.S. domiciled board of directors, contact information. Public comments At the end of the comment period, the
Federal Reserve examiners and supervisory staff may also be viewed electronically or in comments and recommendations
would generally direct the supervisory finding to paper form in Room 3515, 1801 K Street
the senior U.S. manager responsible for the FBO’s received will be analyzed to determine
U.S. operations. However, examiners have the (between 18th and 19th Streets NW.,) the extent to which the Federal Reserve
discretion to direct to the FBO’s global board of Washington, DC 20006 between 9:00 should modify the proposed revisions
directors those supervisory findings that concern a.m. and 5:00 p.m. on weekdays. prior to giving final approval.
weaknesses in the FBO’s governance structure over Additionally, commenters may send a
sradovich on DSK3GMQ082PROD with NOTICES

its U.S. operations or to address excessive risks in Proposal To Approve Under OMB
its U.S. business strategies that have or may have copy of their comments to the OMB
negative ramifications to safety and soundness. Desk Officer—Shagufta Ahmed—Office Delegated Authority the
31 Escalation of a matter to the board of directors of Information and Regulatory Affairs, Implementation of the Following
or an executive-level committee of the board is not Office of Management and Budget, New Report
a precondition to the Federal Reserve System’s
initiation of an enforcement action against the
Executive Office Building, Room 10235, Report title: Survey of Household
institution or its directors for failure to address an 725 17th Street NW., Washington, DC Economics and Decisionmaking.
MRIA or MRA. 20503 or by fax to (202) 395–6974. Agency form number: FR 3077.

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Document Created: 2017-08-09 02:18:25
Document Modified: 2017-08-09 02:18:25

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice, request for comment.
Dates		Comments must be submitted on or before October 10, 2017.
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.
FR Citation		82 FR 37227