83_FR_7510 83 FR 7475 - Proposed Agency Information Collection Activities; Comment Request

83 FR 7475 - Proposed Agency Information Collection Activities; Comment Request

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 35 (February 21, 2018)

Page Range7475-7476
FR Document2018-03543

The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the voluntary 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 35 (Wednesday, February 21, 2018) 
[Federal Register Volume 83, Number 35 (Wednesday, February 21, 2018)]
[Notices]
[Pages 7475-7476]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-03543]


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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 voluntary 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).

DATES: Comments must be submitted on or before April 23, 2018.

ADDRESSES: You may submit comments, identified by FR 2835 or FR 2835a, 
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.
     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 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

[[Page 7476]]

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, 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: 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)).

    Board of Governors of the Federal Reserve System, February 15, 
2018.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2018-03543 Filed 2-20-18; 8:45 am]
 BILLING CODE 6210-01-P

Federal Register / Vol. 83, No. 35 / Wednesday, February 21, 2018 / Notices 7475 should modify the proposal prior to All FR 2900 respondents, both weekly FR 2930 are all mandatory. The release giving final approval. and quarterly, that offer deposits of data collected on these forms would denominated in foreign currencies at likely cause substantial harm to the Proposal To Approve Under OMB their U.S. offices file the FR 2915 competitive position of the respondent Delegated Authority the Extension for quarterly on the same reporting if made publicly available. The data Three Years, With Revision, of the schedule as quarterly FR 2900 collected on these forms, therefore, may Following Report respondents. Foreign currency deposits be kept confidential under exemption 4 Report title: Report of Transaction are subject to reserve requirements and, of the Freedom of Information Act, Accounts, Other Deposits, and Vault therefore, are included in the FR 2900 which protects from disclosure trade Cash (FR 2900); Annual Report of data. However, because foreign currency secrets and commercial or financial Deposits and Reservable Liabilities (FR deposits are not included in the information (5 U.S.C. 552(b)(4)). 2910a); Report of Foreign (Non-U.S.) monetary aggregates, the FR 2915 data Board of Governors of the Federal Reserve Currency Deposits (FR 2915); and are used to net foreign currency- System, February 15, 2018. Allocation of Low Reserve Tranche and denominated deposits from the FR 2900 Ann E. Misback, Reservable Liabilities Exemption (FR data to exclude them from measures of Secretary of the Board. 2930). the monetary aggregates. The FR 2930 Agency form number: FR 2900; FR [FR Doc. 2018–03544 Filed 2–20–18; 8:45 am] data are collected when the low reserve 2910a; FR 2915; and FR 2930. tranche and reservable liabilities BILLING CODE 6210–01–P OMB control number: 7100–0087. exemption thresholds are adjusted Frequency: Weekly, quarterly, toward the end of each calendar year or annually, and on occasion. upon the establishment of an office FEDERAL RESERVE SYSTEM Respondents: Depository institutions. outside the home state or Federal Estimated number of respondents: FR Proposed Agency Information Reserve District. Collection Activities; Comment 2900 (Weekly), 2,007; FR 2900 Proposed revisions: The Board (Quarterly), 4,395; FR 2910a, 2,941; FR Request proposes raising the nonexempt deposit 2915, 122; and FR 2930, 93. cutoff to $1 billion, substantially AGENCY: Board of Governors of the Estimated average hours per response: increasing the cutoff from its indexed Federal Reserve System. FR 2900 (Weekly), 1.25; FR 2900 amount of $457.5 million that is set to ACTION: Notice, request for comment. (Quarterly), 3; FR 2910a, 0.75; FR 2915, take effect in September 2018. This 0.5; and FR 2930, 0.25. proposed increase in the nonexempt SUMMARY: The Board of Governors of the Estimated annual burden hours: FR deposit cutoff would reduce reporting Federal Reserve System (Board) invites 2900 (Weekly), 130,455; FR 2900 burden on depository institutions while comment on a proposal to extend for (Quarterly), 52,740; FR 2910a, 2,206; FR maintaining accurate measurements of three years, without revision, the 2915, 244; FR 2930, 23. the money and reserves aggregates. With voluntary Quarterly Report of Interest General description of reports: Data this increase, the Board estimates that Rates on Selected Direct Consumer from these mandatory reports are used approximately 1,000 depository Installment Loans and the Quarterly by the Board for administering institutions would become newly Report of Credit Card Plans (FR 2835; Regulation D (Reserve Requirements of eligible to elect to shift from weekly to FR 2835a; OMB No. 7100–0085). Depository Institutions) and for quarterly FR 2900 reporting. However, DATES: Comments must be submitted on constructing, analyzing, and monitoring consistent with current policy, newly or before April 23, 2018. the monetary and reserve aggregates. eligible institutions for quarterly ADDRESSES: You may submit comments, The FR 2900 is the primary source of reporting may elect to continue identified by FR 2835 or FR 2835a, by data used for the calculation of required reporting weekly. There are no changes any of the following methods: reserves and applied vault cash, and for proposed for the FR 2910a, FR 2915, or • Agency Website: http:// the construction and analysis of the FR 2930. www.federalreserve.gov. Follow the monetary aggregates. Data are also used Legal authorization and instructions for submitting comments at for indexing the exemption amount and confidentiality: The information http://www.federalreserve.gov/apps/ low reserve tranche amount each year, collected on these reports is authorized foia/proposedregs.aspx. as required by statute and for indexing under sections 11, 25(7), and 25A(17) of • Federal eRulemaking Portal: http:// the nonexempt deposit cutoff and the Federal Reserve Act (FRA), and www.regulations.gov. Follow the reduced reporting limit each year, as section 7 of the International Banking instructions for submitting comments. determined by the Board, amounts Act (IBA). Section 11 of the FRA (12 • Email: regs.comments@ which determine whether depository U.S.C. 248(a)) authorizes the Board to federalreserve.gov. Include OMB institutions file the FR 2900 either require reports from each member bank number in the subject line of the weekly or quarterly. The FR 2910a is as it may deem necessary and authorizes message. generally submitted by exempt the Board to prescribe reports of • FAX: (202) 452–3819 or (202) 452– institutions whose total deposits (as liabilities and assets from insured 3102. shown on their December Call Report) 1 depository institutions to enable the • Mail: Ann E. Misback, Secretary, are greater than the exemption amount. Board to discharge its responsibility to Board of Governors of the Federal monitor and control monetary and Reserve System, 20th Street and 1 In this document, the term Call Report refers to credit aggregates. Sections 25(7) and Constitution Avenue NW, Washington, the Consolidated Reports of Condition and Income 25A(17) of the FRA (12 U.S.C. 604a and DC 20551. daltland on DSKBBV9HB2PROD with NOTICES (FFIEC 031, FFIEC 041, and FFIEC 051; OMB No. 7100–0036) filed by commercial banks, Report of 625) authorize the Board to require Edge All public comments are available Assets and Liabilities of U.S. Branches and and agreement corporations to make from the Board’s website at http:// Agencies of Foreign Banks (FFIEC 002; OMB No. reports to the Board. Section 7 of the www.federalreserve.gov/apps/foia/ 7100–0032), Statement of Financial Condition IBA (12 U.S.C. 3105(c)(2)) authorizes the proposedregs.aspx as submitted, unless (NCUA 5300; OMB No. 3133–0004) filed by credit unions, and Consolidated Report of Condition and Board to require reports from U.S. modified for technical reasons. Income for Edge and Agreement Corporations (FR branches and agencies of foreign banks. Accordingly, your comments will not be 2886b; OMB No. 7100–0086). The FR 2900, FR 2910a, FR 2915, and edited to remove any identifying or VerDate Sep<11>2014 19:57 Feb 20, 2018 Jkt 244001 PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 E:\FR\FM\21FEN1.SGM 21FEN1

7476 Federal Register / Vol. 83, No. 35 / Wednesday, February 21, 2018 / Notices contact information. Public comments proposed information collection, as to promote effectively the goals of may also be viewed electronically or in including the validity of the maximum employment, stable prices, paper form in Room 3515, 1801 K Street methodology and assumptions used; and moderate long-term interest rates. (between 18th and 19th Streets NW), c. Ways to enhance the quality, Section 11 of the FRA (12 U.S.C. 248(a)) Washington, DC 20006 between 9:00 utility, and clarity of the information to authorizes the Board to require reports a.m. and 5:00 p.m. on weekdays. be collected; from each member bank as it may deem Additionally, commenters may send a d. Ways to minimize the burden of necessary and authorizes the Board to copy of their comments to the OMB information collection on respondents, prescribe reports of liabilities and assets Desk Officer—Shagufta Ahmed—Office including through the use of automated from insured depository institutions to of Information and Regulatory Affairs, collection techniques or other forms of enable the Board to discharge its Office of Management and Budget, New information technology; and responsibility to monitor and control Executive Office Building, Room 10235, e. Estimates of capital or startup costs monetary and credit aggregates. The 725 17th Street NW, Washington, DC and costs of operation, maintenance, information collected on the FR 2835 20503 or by fax to (202) 395–6974. and purchase of services to provide and FR 2835a assist the Board and the FOR FURTHER INFORMATION CONTACT: A information. FOMC with fulfilling these obligations. copy of the PRA OMB submission, At the end of the comment period, the Both the 2835 and 2835a are voluntary. including the proposed reporting form comments and recommendations With respect to the FR 2835, only the and instructions, supporting statement, received will be analyzed to determine narrative information to explain large and other documentation will be placed the extent to which the Federal Reserve fluctuations in reported data is into OMB’s public docket files, once should modify the proposal prior to considered confidential. With respect to approved. These documents will also be giving final approval. the 2835a, the individual respondent made available on the Federal Reserve data is considered confidential. Such Proposal To Approve Under OMB Board’s public website at: http:// treatment is appropriate because the Delegated Authority the Extension for www.federalreserve.gov/apps/ data is not publicly available and the Three Years, Without Revision, of the reportforms/review.aspx or may be public release of this data is likely to Following Report requested from the agency clearance impair the Board’s ability to collect officer, whose name appears below. Report title: Quarterly Report of necessary information in the future and Federal Reserve Board Clearance Interest Rates on Selected Direct cause substantial harm to the Officer—Nuha Elmaghrabi—Office of Consumer Installment Loans and competitive position of the respondent. the Chief Data Officer, Board of Quarterly Report of Credit Card Plans. Thus, this information may be kept Governors of the Federal Reserve Agency form number: FR 2835; FR confidential under exemption (b)(4) of System, Washington, DC 20551, (202) 2835a. the Freedom of Information Act, which 452–3829. Telecommunications Device OMB control number: 7100–0085. exempts from disclosure ‘‘trade secrets for the Deaf (TDD) users may contact Frequency: Quarterly. and commercial or financial information (202) 263–4869, Board of Governors of Respondents: Commercial banks. obtained from a person and privileged the Federal Reserve System, Estimated number of respondents: FR or confidential.’’ (5 U.S.C. 552(b)(4)). Washington, DC 20551. 2835: 150; FR 2835a: 50. Board of Governors of the Federal Reserve SUPPLEMENTARY INFORMATION: On June Estimated average hours per response: System, February 15, 2018. 15, 1984, the Office of Management and FR 2835: .29 hours; FR 2835a: .50 hours. Estimated annual burden hours: FR Ann E. Misback, Budget (OMB) delegated to the Board Secretary of the Board. authority under the Paperwork 2835: 176 hours; FR 2835a: 100 hours. General description of report: The FR [FR Doc. 2018–03543 Filed 2–20–18; 8:45 am] Reduction Act (PRA) to approve of and assign OMB control numbers to 2835 collects information from a sample BILLING CODE 6210–01–P collection of information requests and of commercial banks on interest rates requirements conducted or sponsored charged on loans for new vehicles and loans for other consumer goods and FEDERAL RESERVE SYSTEM by the Board. In exercising this delegated authority, the Board is personal expenses. The data are used for Formations of, Acquisitions by, and directed to take every reasonable step to the analysis of household financial Mergers of Bank Holding Companies solicit comment. In determining conditions. The FR 2835a collects whether to approve a collection of information on two measures of credit The companies listed in this notice information, the Board will consider all card interest rates from a sample of have applied to the Board for approval, comments received from the public and commercial banks with $1 billion or pursuant to the Bank Holding Company other agencies. more in credit card receivables and a Act of 1956 (12 U.S.C. 1841 et seq.) representative group of smaller issuers. (BHC Act), Regulation Y (12 CFR part Request for Comment on Information The data are used to analyze the credit 225), and all other applicable statutes Collection Proposal card market and draw implications for and regulations to become a bank The Board invites public comment on the household sector. holding company and/or to acquire the the following information collection, Legal authorization and assets or the ownership of, control of, or which is being reviewed under confidentiality: The Board is authorized the power to vote shares of a bank or authority delegated by the OMB under to collect the information on the FR bank holding company and all of the the PRA. Comments are invited on the 2835 and FR 2835a by sections 2A and banks and nonbanking companies following: 11 of the Federal Reserve Act (‘‘FRA’’). owned by the bank holding company, daltland on DSKBBV9HB2PROD with NOTICES a. Whether the proposed collection of Section 2A of the FRA (12 U.S.C. 225a) including the companies listed below. information is necessary for the proper requires that the Board and the Federal The applications listed below, as well performance of the Federal Reserve’s Open Market Committee (‘‘FOMC’’) as other related filings required by the functions; including whether the maintain long-run growth of the Board, are available for immediate information has practical utility; monetary and credit aggregates inspection at the Federal Reserve Bank b. The accuracy of the Federal commensurate with the economy’s long indicated. The applications will also be Reserve’s estimate of the burden of the run potential to increase production, so available for inspection at the offices of VerDate Sep<11>2014 20:58 Feb 20, 2018 Jkt 244001 PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 E:\FR\FM\21FEN1.SGM 21FEN1


Document Created: 2018-02-21 01:48:53
Document Modified: 2018-02-21 01:48:53
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice, request for comment.
DatesComments must be submitted on or before April 23, 2018.
ContactA 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 Citation83 FR 7475 
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