83 FR 22487 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 94 (May 15, 2018)

Page Range		22487-22487
FR Document		2018-10267

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Quarterly Report of Interest Rates on Selected Direct Consumer Installment Loans and the Quarterly Report of Credit Card Plans (FR 2835; FR 2835a; OMB No. 7100-0085).

Federal Register, Volume 83 Issue 94 (Tuesday, May 15, 2018)

[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Page 22487]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-10267]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Quarterly Report of Interest Rates on Selected Direct Consumer 
Installment Loans and the Quarterly Report of Credit Card Plans (FR 
2835; FR 2835a; OMB No. 7100-0085).

FOR FURTHER INFORMATION CONTACT: 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.
    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.

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. 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 instrument(s) 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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Quarterly Report of Interest Rates on Selected Direct 
Consumer Installment Loans and Quarterly Report of Credit Card Plans.
    Agency form number: FR 2835; FR 2835a.
    OMB control number: 7100-0085.
    Frequency: Quarterly.
    Respondents: Commercial banks.
    Estimated number of respondents: FR 2835: 150; FR 2835a: 50.
    Estimated average hours per response: FR 2835: .29 hours; FR 2835a: 
.50 hours.
    Estimated annual burden hours: FR 2835: 176 hours; FR 2835a: 100 
hours.
    General description of report: The FR 2835 collects information 
from a sample of commercial banks on interest rates charged on loans 
for new vehicles and loans for other consumer goods and personal 
expenses. The data are used for the analysis of household financial 
conditions. The FR 2835a collects information on two measures of credit 
card interest rates from a sample of commercial banks with $1 billion 
or more in credit card receivables and a representative group of 
smaller issuers. The data are used to analyze the credit card market 
and draw implications for the household sector.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information on the FR 2835 and FR 2835a by sections 2A and 
11 of the Federal Reserve Act (``FRA''). Section 2A of the FRA (12 
U.S.C. 225a) 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. 
Section 11 of the FRA (12 U.S.C. 248(a)) authorizes the Board to 
require reports from each member bank as it may deem necessary and 
authorizes the Board to prescribe reports of liabilities and assets 
from insured depository institutions to enable the Board to discharge 
its responsibility to monitor and control monetary and credit 
aggregates. The information collected on the FR 2835 and FR 2835a 
assist the Board and the FOMC with fulfilling these obligations. Both 
the 2835 and 2835a are voluntary. With respect to the FR 2835, only the 
narrative information to explain large fluctuations in reported data is 
considered confidential. With respect to the 2835a, the individual 
respondent data is considered confidential. Such treatment is 
appropriate because the data is not publicly available and the public 
release of this data is likely to impair the Board's ability to collect 
necessary information in the future and cause substantial harm to the 
competitive position of the respondent. Thus, this information may be 
kept confidential under exemption (b)(4) of the Freedom of Information 
Act, which exempts from disclosure ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.'' (5 U.S.C. 552(b)(4)).
    Current actions: On February 21, 2018, the Board published a notice 
in the Federal Register (83 FR 7475) requesting public comment for 60 
days on the extension, without revision, of the Quarterly Report of 
Interest Rates on Selected Direct Consumer Installment Loans and the 
Quarterly Report of Credit Card Plans. The comment period for this 
notice expired on April 23, 2018. The Board did not receive any 
comments. The information collection will be extended as proposed.

    Board of Governors of the Federal Reserve System, May 9, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10267 Filed 5-14-18; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices 22487

(12 U.S.C. 248(a)(2)), which authorizes OMB Desk Officer—Shagufta to collect the information on the FR
the Board to require reports from each Ahmed—Office of Information and 2835 and FR 2835a by sections 2A and
member bank as it may deem necessary Regulatory Affairs, Office of 11 of the Federal Reserve Act (‘‘FRA’’).
and authorizes the Board to prescribe Management and Budget, New Section 2A of the FRA (12 U.S.C. 225a)
reports of liabilities and assets from Executive Office Building, Room 10235, requires that the Board and the Federal
insured depository institutions to enable 725 17th Street NW, Washington, DC Open Market Committee (‘‘FOMC’’)
the Board to discharge its responsibility 20503 or by fax to (202) 395–6974. maintain long-run growth of the
to monitor and control monetary and SUPPLEMENTARY INFORMATION: On June monetary and credit aggregates
credit aggregates. The FR 2502q report 15, 1984, the Office of Management and commensurate with the economy’s long
is mandatory. The information from this Budget (OMB) delegated to the Board run potential to increase production, so
collection would not be accorded authority under the Paperwork as to promote effectively the goals of
confidential treatment because release Reduction Act (PRA) to approve of and maximum employment, stable prices,
of the information is not likely to result assign OMB control numbers to and moderate long-term interest rates.
in substantial harm to the competitive collection of information requests and Section 11 of the FRA (12 U.S.C. 248(a))
position of the respondents. If requirements conducted or sponsored
confidential treatment is requested by a authorizes the Board to require reports
by the Board. Board-approved from each member bank as it may deem
respondent, the Board will review the collections of information are
request to determine if confidential necessary and authorizes the Board to
incorporated into the official OMB
treatment is appropriate. prescribe reports of liabilities and assets
inventory of currently approved
Current actions: On February 22, from insured depository institutions to
collections of information. Copies of the
2018, the Federal Reserve published a enable the Board to discharge its
Paperwork Reduction Act Submission,
notice in the Federal Register (83 FR supporting statements and approved responsibility to monitor and control
7725) requesting public comment for 60 collection of information instrument(s) monetary and credit aggregates. The
days on the extension, without revision, are placed into OMB’s public docket information collected on the FR 2835
of the Quarterly Report of Assets and files. The Federal Reserve may not and FR 2835a assist the Board and the
Liabilities of Large Foreign Offices of conduct or sponsor, and the respondent FOMC with fulfilling these obligations.
U.S. Banks (FR 2502q; OMB No. 7100– is not required to respond to, an Both the 2835 and 2835a are voluntary.
0079). The comment period for this information collection that has been With respect to the FR 2835, only the
notice expired on April 23, 2018. The extended, revised, or implemented on or narrative information to explain large
Federal Reserve did not receive any after October 1, 1995, unless it displays fluctuations in reported data is
comments. a currently valid OMB control number. considered confidential. With respect to
Board of Governors of the Federal Reserve Final approval under OMB delegated the 2835a, the individual respondent
System, May 9, 2018. authority of the extension for three data is considered confidential. Such
Michele Taylor Fennell, years, without revision, of the following treatment is appropriate because the
Assistant Secretary of the Board. report: data is not publicly available and the
[FR Doc. 2018–10266 Filed 5–14–18; 8:45 am] Report title: Quarterly Report of public release of this data is likely to
BILLING CODE 6210–01–P
Interest Rates on Selected Direct impair the Board’s ability to collect
Consumer Installment Loans and necessary information in the future and
Quarterly Report of Credit Card Plans. cause substantial harm to the
FEDERAL RESERVE SYSTEM Agency form number: FR 2835; FR competitive position of the respondent.
2835a. Thus, this information may be kept
Agency Information Collection OMB control number: 7100–0085. confidential under exemption (b)(4) of
Activities: Announcement of Board Frequency: Quarterly. the Freedom of Information Act, which
Approval Under Delegated Authority Respondents: Commercial banks. exempts from disclosure ‘‘trade secrets
and Submission to OMB Estimated number of respondents: FR and commercial or financial information
2835: 150; FR 2835a: 50. obtained from a person and privileged
AGENCY: Board of Governors of the Estimated average hours per response:
Federal Reserve System. or confidential.’’ (5 U.S.C. 552(b)(4)).
FR 2835: .29 hours; FR 2835a: .50 hours.
SUMMARY: The Board of Governors of the Estimated annual burden hours: FR Current actions: On February 21,
Federal Reserve System (Board) is 2835: 176 hours; FR 2835a: 100 hours. 2018, the Board published a notice in
adopting a proposal to extend for three General description of report: The FR the Federal Register (83 FR 7475)
years, without revision, the Quarterly 2835 collects information from a sample requesting public comment for 60 days
Report of Interest Rates on Selected of commercial banks on interest rates on the extension, without revision, of
Direct Consumer Installment Loans and charged on loans for new vehicles and the Quarterly Report of Interest Rates on
the Quarterly Report of Credit Card loans for other consumer goods and Selected Direct Consumer Installment
Plans (FR 2835; FR 2835a; OMB No. personal expenses. The data are used for Loans and the Quarterly Report of
7100–0085). the analysis of household financial Credit Card Plans. The comment period
FOR FURTHER INFORMATION CONTACT: conditions. The FR 2835a collects for this notice expired on April 23,
Federal Reserve Board Clearance information on two measures of credit 2018. The Board did not receive any
Officer—Nuha Elmaghrabi—Office of card interest rates from a sample of comments. The information collection
the Chief Data Officer, Board of commercial banks with $1 billion or will be extended as proposed.
daltland on DSKBBV9HB2PROD with NOTICES

Governors of the Federal Reserve more in credit card receivables and a Board of Governors of the Federal Reserve
System, Washington, DC 20551, (202) representative group of smaller issuers. System, May 9, 2018.
452–3829. Telecommunications Device The data are used to analyze the credit
Michele Taylor Fennell,
for the Deaf (TDD) users may contact card market and draw implications for
(202) 263–4869, Board of Governors of the household sector. Assistant Secretary of the Board.
the Federal Reserve System, Legal authorization and [FR Doc. 2018–10267 Filed 5–14–18; 8:45 am]
Washington, DC 20551. confidentiality: The Board is authorized BILLING CODE 6210–01–P

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Document Created: 2018-05-15 00:33:01
Document Modified: 2018-05-15 00:33:01

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		On February 21, 2018, the Board published a notice in the Federal Register (83 FR 7475) requesting public comment for 60 days on the extension, without revision, of the Quarterly Report of Interest Rates on Selected Direct Consumer Installment Loans and the Quarterly Report of Credit Card Plans. The comment period for this notice expired on April 23, 2018. The Board did not receive any comments. The information collection will be extended as proposed.
Contact		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.
FR Citation		83 FR 22487