83 FR 22488 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

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

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Senior Financial Officer Survey (FR 2023; OMB No. 7100- 0223).

[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22488-22489]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-10268]



[[Page 22488]]

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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, without 
revision, the Senior Financial Officer Survey (FR 2023; OMB No. 7100-
0223).

DATES: Comments must be submitted on or before July 16, 2018.

ADDRESSES: You may submit comments, identified by FR 2023, 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 or to remove sensitive PII 
(personally identifiable information) at the commenter's request. 
Public comments may also be viewed electronically or in paper form in 
Room 3515, 1801 K Street NW, (between 18th and 19th Streets NW), 
Washington, DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For 
security reasons, the Board requires that visitors make an appointment 
to inspect comments. You may do so by calling (202) 452-3684. Upon 
arrival, visitors will be required to present valid government-issued 
photo identification and to submit to security screening in order to 
inspect and photocopy comments.
    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, 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

    Report title: Senior Financial Officer Survey.
    Agency form number: FR 2023.
    OMB control number: 7100-0223.
    Frequency: Up to four times a year.
    Respondents: Domestically chartered large commercial banks.
    Estimated number of respondents: 80.
    Estimated average hours per response: 3 hours.
    Estimated annual burden hours: 960 hours.
    General description of report: The Board uses the surveys in this 
collection to gather qualitative and limited quantitative information 
about liability management, the provision of financial services, and 
the functioning of key financial markets. Responses are obtained from a 
senior officer at each participating institution usually through an 
electronic submission. Although a survey may not be collected in a 
given year, the Board may conduct up to four surveys per year when 
informational needs arise and cannot be met from existing data sources. 
The survey does not have a fixed set of questions; each survey consists 
of a limited number of questions directed at topics of timely interest.
    Legal authorization and confidentiality: The FR 2023 is a voluntary 
survey. 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 2023 to help fulfill these 
obligations.

[[Page 22489]]

    The questions asked on each survey will vary, so the ability of the 
Board to maintain the confidentiality of information collected must be 
determined on a case by case basis. It is likely that much of the 
information collected would constitute confidential financial 
information obtained from a person and would thus be protected from 
disclosure under exemption 4 to the Freedom of Information Act (FOIA) 
(5 U.S.C. 552(b)(4)). Exemption 8 to FOIA, which protects information 
related to examination, operating, or condition reports prepared for 
the use of an agency supervising financial institutions, may also 
occasionally apply (5 U.S.C. 552(b)(8)).

    Board of Governors of the Federal Reserve System, May 9, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10268 Filed 5-14-18; 8:45 am]
BILLING CODE 6210-01-P