[Federal Register Volume 78, Number 143 (Thursday, July 25, 2013)]
[Notices]
[Pages 44952-44953]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17873]
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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: Notice is hereby given of the final approval of proposed
information collections by the Board of Governors of the Federal
Reserve System (Board) under OMB delegated authority, as per 5 CFR
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the
Public). 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
instruments 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.
FOR FURTHER INFORMATION CONTACT:
Federal Reserve Board Clearance Officer--Cynthia Ayouch--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.
Final approval under OMB delegated authority of the extension for
three years, with minor revision, of the following report:
Report title: Report of Selected Balance Sheet Items for Discount
Window Borrowers.
Agency form number: FR 2046.
OMB control number: 7100-0289.
Frequency: On occasion.
Reporters: Depository institutions.
Estimated annual reporting hours: Primary and Secondary Credit, 1
hour; Seasonal Credit, 228 hours.
Estimated average hours per response: Primary and Secondary Credit,
0.75 hours; Seasonal Credit, 0.25 hours.
Number of respondents: Primary and Secondary Credit, 1; Seasonal
Credit, 70.
General description of report: This information collection is
required to obtain a benefit pursuant to section 10B and 19(b)(7) of
the Federal Reserve Act (12 U.S.C. 347b and 461(b)(7)) and is given
confidential treatment (5 U.S.C. 552(b)(4)).
Abstract: The Federal Reserve's Regulation A, Extensions of Credit
by Federal Reserve Banks, requires that Reserve Banks review balance
sheet data in determining whether to extend credit and to help
ascertain whether undue use is made of such credit. Depository
institutions that borrow from the discount window report on the FR 2046
certain balance sheet data for a period
[[Page 44953]]
that encompasses the dates of borrowing.
Current Action: On May 16, 2013, the Federal Reserve published a
notice in the Federal Register (78 FR 28846) seeking public comment for
60 days on the extension, with minor revision, of the FR 2046. The
comment period for this notice expired on July 15, 2013. The Federal
Reserve did not receive any comments. The revision will be implemented
as proposed.
Final approval under OMB delegated authority of the implementation
of the following report:
Report title: Payments Research Survey.
Agency form number: FR 3067.
OMB control number: 7100-new.
Frequency: On occasion.
Reporters: Depository institutions; financial and nonfinancial
businesses and related entities; individual consumers; or households.
Estimated annual reporting hours: 60,000 hours.
Estimated average hours per response: 3 hours.
Number of respondents: 5,000.
General description of report: The Federal Reserve has determined
that this survey is generally authorized by sections 2A and 12A of the
Federal Reserve Act (FRA). Section 2A of the FRA requires that the
Federal Reserve 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 the
maximum employment, stable prices, and moderate long-term interest
rates. See 12 U.S.C. 225a. In addition, under section 12A of the FRA,
the Federal Reserve 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 the
regulations' bearing upon the general credit situation of the country.
See 12 U.S.C. 263. The authority of the Federal Reserve to collect
economic data to carry out the requirements of these provisions is
implicit. Accordingly, the Federal Reserve is authorized to use the FR
3067 by sections 2A and 12A of the FRA.
Additionally, depending on the survey respondent, the information
collection may be authorized under a more specific statute. These
statutes are:
Expedited Funds Availability Act Sec. 609 (12 U.S.C.
4008)
Electronic Fund Transfer Act Sec. 920 (15 U.S.C. 1693o-2)
The Check Clearing for the 21st Century Act Sec. 15 (12
U.S.C. 5014)
Federal Reserve Act Sec. 11 (Examinations and reports,
Supervision over Reserve Banks, and Federal Reserve Note provisions, 12
U.S.C. 248); Sec. 11A (Pricing of Services, 12 U.S.C. 248a); Sec. 13
(FRB deposits and collections, 12 U.S.C. 342); and Sec. 16 (Issuance
of Federal Reserve notes, par clearance, and FRB clearinghouse, 12
U.S.C. 248-1, 360, and 411).
Under the appropriate authority, the Federal Reserve may make
submission of survey information mandatory for entities such as
financial institutions or payment card networks; submissions would
otherwise be voluntary.
The ability of the Federal Reserve to maintain the confidentiality
of information provided by respondents to the FR 3067 surveys will be
determined on a case-by-case basis depending on the type of information
provided for a particular survey. For instance, in some circumstance,
no issue of confidentiality will arise as the surveys may be conducted
by private firms under contract with the Federal Reserve and names or
other directly identifying information would not be provided to the
Federal Reserve. In circumstances where identifying information is
provided to the Federal Reserve, such information could possibly be
protected under the Freedom of Information Act (FOIA), exemptions 4 and
6. Exemption 4 protects information from disclosure of trade secrets
and commercial or financial information, while exemption 6 protects
information ``the disclosure of which would constitute a clearly
unwarranted invasion of personal privacy.'' See 5 U.S.C. 552(b)(4) and
(6). If the survey is mandatory and is undertaken as part of the
supervisory process, information could be protected under FOIA
exemption 8, which protects information relating to the examination
reports. See 5 U.S.C. 552(b)(8).
Abstract: The bank operations and payment systems functions of the
Federal Reserve have occasional need to gather data on an ad-hoc basis
from the public on their payment habits, economic condition, and
financial relationships, as well as their attitudes, perceptions, and
expectations. These data may be particularly needed in times of
critical economic or regulatory change or when issues of immediate
concern arise from Federal Reserve System committee initiatives and
working groups or requests from the Congress. The Federal Reserve would
use this event-driven survey to obtain information specifically
tailored to the Federal Reserve's supervisory, regulatory, fiscal, and
operational responsibilities. The Federal Reserve may conduct various
versions of the survey during the year and, as needed, survey
respondents up to four times per year. The frequency and content of the
questions will depend on changing economic, regulatory, supervisory, or
legislative developments.
Current Action: On May 16, 2013, the Federal Reserve published a
notice in the Federal Register (78 FR 28846) seeking public comment for
60 days on the implementation of the FR 3067. The comment period for
this notice expired on July 15, 2013. The Federal Reserve did not
receive any comments. The survey will be implemented as proposed.
Board of Governors of the Federal Reserve System, July 22, 2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-17873 Filed 7-24-13; 8:45 am]
BILLING CODE 6210-01-P