83 FR 11520 - Proposed Agency Information Collection Activities; Comment Request
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 51 (March 15, 2018)
Federal Register Volume 83, Issue 51 (March 15, 2018)
| Page Range | 11520-11521 | |
| FR Document | 2018-05266 |
[Federal Register Volume 83, Number 51 (Thursday, March 15, 2018)] [Notices] [Pages 11520-11521] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-05266] ----------------------------------------------------------------------- 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 extend for three years, without revision, the Survey of Consumer Finances (FR 3059; OMB 7100-0287). DATES: Comments must be submitted on or before May 14, 2018. ADDRESSES: You may submit comments, identified by FR 3059, by any of the following methods:Agency Website: http://www.federalreserve.gov. Follow the instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx. 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 website 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 website 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: 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. 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, [[Page 11521]] 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 proposal prior to giving final approval. Proposal To Approve Under OMB Delegated Authority the Extension for Three Years, Without Revision, of the Following Report(s) Report title: 2019 Survey of Consumer Finances (SCF). Agency form number: FR 3059. OMB control number: 7100-0287. Frequency: One-time survey. Respondents: U.S. families. Estimated number of respondents: Pretest, 150; and Main survey, 7,000. Estimated average hours per response: Pretest, 90 minutes; and Main survey, 90 minutes. Estimated annual burden hours: Pretest: 225 hours and Main survey: 10,500 hours. General description of report: This would be the thirteenth triennial SCF since 1983, the beginning of the current series. This survey is the only source of representative information on the structure of U.S. families' finances. The survey would collect data on the assets, debts, income, work history, pension rights, use of financial services, and attitudes of a sample of U.S. families. Because the ownership of some assets is relatively concentrated in a small number of families, the survey would make a special effort to ensure proper representation of such assets by systematically oversampling wealthier families. Legal authorization and confidentiality: Section 2A of the Federal Reserve Act (FRA) requires that the Board and the Federal Open Market Committee (FOMC) 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). In addition, under section 12A of the FRA, the FOMC is required to implement regulations relating to the open market operations conducted by Federal Reserve Banks. Those transactions must be governed 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). The Board and the FOMC use the information obtained from the FR 3059 to help fulfill these obligations. The FR 3059 is a voluntary survey. The information collected on the FR 3059 is exempt from disclosure in identifiable form under exemption 6 of the Freedom of Information Act, which protects information that the disclosure of which would constitute an unwarranted invasion of personal privacy of individuals involved (5 U.S.C. 552(b)(6)). Consultation outside the agency: The final survey questionnaire would be developed jointly by the Board and the contractor. The contractor would conduct the interviews for this survey. The data to support the part of the survey sample selected by the Board would be provided by the Statistics of Income Division (SOI) of the Internal Revenue Service under a contract that allows this use of the data as well as other more limited uses of the data for statistical adjustments to the final data and related purposes. As in past SCFs, the sample selection and survey administration would be managed so that the Board would not be given any names of survey participants; SOI would not be given data to link survey responses with tax records; and the contractor would not be given income data derived from the tax returns. Board of Governors of the Federal Reserve System, March 12, 2018. Ann E. Misback, Secretary of the Board. [FR Doc. 2018-05266 Filed 3-14-18; 8:45 am] BILLING CODE 6210-01-P
![11520 Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices
General description of report: The FR harm to the competitive position of the Desk Officer—Shagufta Ahmed—Office
Y–8 collects information on covered respondent if made publicly available. of Information and Regulatory Affairs,
transactions between an insured The data collected on this form, Office of Management and Budget, New
depository institution and its affiliates therefore, would be kept confidential Executive Office Building, Room 10235,
that are subject to the quantitative limits under exemption 4 of the Freedom of 725 17th Street NW, Washington, DC
and requirements of section 23A of the Information Act, which protects from 20503 or by fax to (202) 395–6974.
Federal Reserve Act and the Board’s disclosure trade secrets and commercial FOR FURTHER INFORMATION CONTACT: A
Regulation W (12 CFR Pt. 223). The FR or financial information. (5 U.S.C. copy of the PRA OMB submission,
Y–8 is filed quarterly by all U.S. top-tier 552(b)(4)). including the proposed reporting form
BHCs and SLHCs, and by foreign Board of Governors of the Federal Reserve and instructions, supporting statement,
banking organizations (FBOs) that System, March 12, 2018. and other documentation will be placed
directly own or control a U.S. subsidiary Ann E. Misback, into OMB’s public docket files, once
insured depository institution. If an approved. These documents will also be
Secretary of the Board.
FBO indirectly controls a U.S. insured made available on the Federal Reserve
[FR Doc. 2018–05254 Filed 3–14–18; 8:45 am]
depository institution through a U.S. Board’s public website at: http://
BILLING CODE 6210–01–P
holding company, the U.S. holding www.federalreserve.gov/apps/
company must file the FR Y–8. A reportforms/review.aspx or may be
respondent must file a separate report requested from the agency clearance
FEDERAL RESERVE SYSTEM
for each U.S. insured depository officer, whose name appears below.
institution it controls. The primary Proposed Agency Information Federal Reserve Board Clearance
purpose of the data is to enhance the Collection Activities; Comment Officer—Nuha Elmaghrabi—Office of
Board’s ability to monitor the credit Request the Chief Data Officer, Board of
exposure of insured depository Governors of the Federal Reserve
institutions to their affiliates and to AGENCY: Board of Governors of the System, Washington, DC 20551 (202)
ensure that insured depository Federal Reserve System. 452–3829. Telecommunications Device
institutions are in compliance with ACTION: Notice, request for comment. for the Deaf (TDD) users may contact
section 23A of the Federal Reserve Act (202) 263–4869, Board of Governors of
and Regulation W. Section 23A of the SUMMARY: The Board of Governors of the the Federal Reserve System,
Federal Reserve Act limits an insured Federal Reserve System (Board) invites Washington, DC 20551.
depository institution’s exposure to comment on a proposal to extend for
SUPPLEMENTARY INFORMATION: On June
affiliated entities and helps to protect three years, without revision, the Survey
15, 1984, the Office of Management and
against the expansion of the federal of Consumer Finances (FR 3059; OMB Budget (OMB) delegated to the Board
safety net to uninsured entities. 7100–0287). authority under the Paperwork
Proposed revisions: In order to reduce DATES: Comments must be submitted on Reduction Act (PRA) to approve of and
reporting burden, the Board proposes to or before May 14, 2018. assign OMB control numbers to
eliminate the FR Y–8 declaration page. ADDRESSES: You may submit comments, collection of information requests and
Currently, respondents that own or identified by FR 3059, by any of the requirements conducted or sponsored
control insured depository institutions following methods: by the Board. In exercising this
may, instead of completing the entire • Agency Website: http:// delegated authority, the Board is
form, submit a declaration page each www.federalreserve.gov. Follow the directed to take every reasonable step to
quarter attesting to the fact that the instructions for submitting comments at solicit comment. In determining
institutions do not have any covered http://www.federalreserve.gov/apps/ whether to approve a collection of
transactions with their affiliates. The foia/proposedregs.aspx. information, the Board will consider all
Board proposes to revise the • Email: regs.comments@ comments received from the public and
instructions to eliminate the declaration federalreserve.gov. Include OMB other agencies.
page and to clarify that respondents that number in the subject line of the
own or control insured depository message. Request for Comment on Information
institutions that do not have any • FAX: (202) 452–3819 or (202) 452– Collection Proposal
covered transactions with their affiliates 3102. The Board invites public comment on
would not have to file the FR Y–8. • Mail: Ann E. Misback, Secretary, the following information collection,
Legal authorization and Board of Governors of the Federal which is being reviewed under
confidentiality: The FR Y–8 is Reserve System, 20th Street and authority delegated by the OMB under
mandatory for respondents that control Constitution Avenue NW, Washington, the PRA. Comments are invited on the
an insured depository institution that DC 20551. following:
has engaged in covered transactions All public comments are available a. Whether the proposed collection of
with an affiliate during the reporting from the Board’s website at http:// information is necessary for the proper
period. Section 5(c) of the Bank Holding www.federalreserve.gov/apps/foia/ performance of the Federal Reserve’s
Company Act authorizes the Board to proposedregs.aspx as submitted, unless functions; including whether the
require BHCs to file the FR Y–8 modified for technical reasons. information has practical utility;
reporting form with the Board. (12 Accordingly, your comments will not be b. The accuracy of the Federal
U.S.C. 1844(c)). Section 10(b)(2) of the edited to remove any identifying or Reserve’s estimate of the burden of the
sradovich on DSK3GMQ082PROD with NOTICES
Home Owners’ Loan Act authorizes the contact information. Public comments proposed information collection,
Board to require SLHCs to file the FR Y– may also be viewed electronically or in including the validity of the
8 reporting form with the Board. (12 paper form in Room 3515, 1801 K Street methodology and assumptions used;
U.S.C. 1467a(b)(2)). The release of data (between 18th and 19th Streets NW) c. Ways to enhance the quality,
collected on this form includes financial Washington, DC 20006 between 9:00 utility, and clarity of the information to
information that is not normally a.m. and 5:00 p.m. on weekdays. be collected;
disclosed by respondents, the release of Additionally, commenters may send a d. Ways to minimize the burden of
which would likely cause substantial copy of their comments to the OMB information collection on respondents,
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![Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices 11521
including through the use of automated the general credit situation of the the Chief Data Officer, Board of
collection techniques or other forms of country (12 U.S.C. 263). The Board and Governors of the Federal Reserve
information technology; and the FOMC use the information obtained System, Washington, DC 20551, (202)
e. Estimates of capital or startup costs from the FR 3059 to help fulfill these 452–3829. Telecommunications Device
and costs of operation, maintenance, obligations. The FR 3059 is a voluntary for the Deaf (TDD) users may contact
and purchase of services to provide survey. The information collected on (202) 263–4869, Board of Governors of
information. the FR 3059 is exempt from disclosure the Federal Reserve System,
At the end of the comment period, the in identifiable form under exemption 6 Washington, DC 20551.
comments and recommendations of the Freedom of Information Act, OMB Desk Officer—Shagufta
received will be analyzed to determine which protects information that the Ahmed—Office of Information and
the extent to which the Federal Reserve disclosure of which would constitute an Regulatory Affairs, Office of
should modify the proposal prior to unwarranted invasion of personal Management and Budget, New
giving final approval. privacy of individuals involved (5 Executive Office Building, Room 10235,
U.S.C. 552(b)(6)). 725 17th Street NW, Washington, DC
Proposal To Approve Under OMB Consultation outside the agency: The 20503 or by fax to (202) 395–6974.
Delegated Authority the Extension for final survey questionnaire would be SUPPLEMENTARY INFORMATION: On June
Three Years, Without Revision, of the developed jointly by the Board and the 15, 1984, the Office of Management and
Following Report(s) contractor. The contractor would Budget (OMB) delegated to the Board
Report title: 2019 Survey of Consumer conduct the interviews for this survey. authority under the Paperwork
Finances (SCF). The data to support the part of the Reduction Act (PRA) to approve and
Agency form number: FR 3059. survey sample selected by the Board assign OMB control numbers to
OMB control number: 7100–0287. would be provided by the Statistics of collection of information requests and
Frequency: One-time survey. Income Division (SOI) of the Internal requirements conducted or sponsored
Respondents: U.S. families. Revenue Service under a contract that by the Board. The Federal Reserve may
Estimated number of respondents: allows this use of the data as well as not conduct or sponsor, and the
Pretest, 150; and Main survey, 7,000. other more limited uses of the data for respondent is not required to respond
Estimated average hours per response: statistical adjustments to the final data to, an information collection that has
Pretest, 90 minutes; and Main survey, and related purposes. As in past SCFs, been extended, revised, or implemented
90 minutes. the sample selection and survey
Estimated annual burden hours: on or after October 1, 1995, unless it
administration would be managed so displays a currently valid OMB control
Pretest: 225 hours and Main survey: that the Board would not be given any
10,500 hours. number. Board-approved collections of
names of survey participants; SOI information are incorporated into the
General description of report: This would not be given data to link survey
would be the thirteenth triennial SCF official OMB inventory of currently
responses with tax records; and the approved collections of information.
since 1983, the beginning of the current contractor would not be given income
series. This survey is the only source of Copies of the Paperwork Reduction Act
data derived from the tax returns. Submission, supporting statements and
representative information on the
structure of U.S. families’ finances. The Board of Governors of the Federal Reserve approved collection of information
System, March 12, 2018. instrument(s) are placed into OMB’s
survey would collect data on the assets,
debts, income, work history, pension Ann E. Misback, public docket files. These documents
rights, use of financial services, and Secretary of the Board. will also be made available on the
attitudes of a sample of U.S. families. [FR Doc. 2018–05266 Filed 3–14–18; 8:45 am] Federal Reserve Board’s public website
Because the ownership of some assets is BILLING CODE 6210–01–P at: http://www.federalreserve.gov/apps/
relatively concentrated in a small reportforms/review.aspx or may be
number of families, the survey would requested from the agency clearance
make a special effort to ensure proper FEDERAL RESERVE SYSTEM officer.
representation of such assets by Agency Information Collection Final Approval Under OMB Delegated
systematically oversampling wealthier Activities: Announcement of Board Authority of the Extension for Three
families. Approval Under Delegated Authority Years, With Revision, of the Following
Legal authorization and and Submission to OMB Reports
confidentiality: Section 2A of the
Report title: Interagency Notice of
Federal Reserve Act (FRA) requires that AGENCY: Board of Governors of the
Change in Control.
the Board and the Federal Open Market Federal Reserve System. Agency form number: FR 2081a.
Committee (FOMC) maintain long run SUMMARY: The Board of Governors of the
OMB control number: 7100–0134.
growth of the monetary and credit Federal Reserve System (Board) is Frequency: On occasion.
aggregates commensurate with the adopting a proposal to extend for three Respondents: An individual (or a
economy’s long run potential to increase years, with revision, the Interagency group of individuals or company or
production, so as to promote effectively Notice of Change in Control (FR 2081a; group of companies that would not be
the goals of maximum employment, OMB No. 7100–0134), Interagency bank holding companies (BHCs) or
stable prices, and moderate long-term Notice of Change in Director or Senior savings and loan holding companies
interest rates (12 U.S.C. 225a). In Executive Officer (FR 2081b; OMB No. (SLHCs) after consummation of the
addition, under section 12A of the FRA, 7100–0134), Interagency Biographical
sradovich on DSK3GMQ082PROD with NOTICES
proposed transaction) seeking to acquire
the FOMC is required to implement and Financial Report (FR 2081c; OMB shares of an insured depository
regulations relating to the open market 7100–0134), and the Interagency Bank institution, SLHC, or BHC (or group of
operations conducted by Federal Merger Act Application (FR 2070; OMB BHCs or SLHCs).
Reserve Banks. Those transactions must No. 7100–0171). Estimated number of respondents:
be governed with a view to FOR FURTHER INFORMATION CONTACT: 156.
accommodating commerce and business Federal Reserve Board Clearance Estimated average hours per response:
and with regard to their bearing upon Officer—Nuha Elmaghrabi—Office of 30.5.
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Document Created: 2018-03-15 02:37:34
Document Modified: 2018-03-15 02:37:34
| 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 May 14, 2018. | |
| 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 website at: http:// www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance officer, whose name appears below. | |
| FR Citation | 83 FR 11520 |
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