[Federal Register Volume 81, Number 54 (Monday, March 21, 2016)]
[Notices]
[Pages 15109-15110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06278]
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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 a proposed
information collection by the Board of Governors of the Federal Reserve
System (Board) under OMB delegated authority. 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.
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.
Final approval under OMB delegated authority of the extension for
three years, with revision, of the following report:
Report title: Survey of Finance Companies.
Agency form number: FR 3033s.
OMB control number: 7100-0277.
Frequency: Every five years.
Reporters: Finance companies and mortgage companies.
Estimated annual reporting hours: 1,800 hours.
Estimated average hours per response: 1.5 hours.
Number of respondents: 1,200.
General description of report: Section 2A of the Federal Reserve
Act (``FRA'') requires that the Board and the Federal Open Market
Committee 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). Under section 12A of the FRA, the Federal Open Market
Committee 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 their bearing
upon the general credit situation of the country. (12 U.S.C. 263).
Section 14 of the FRA authorizes the Reserve Banks, under rules and
regulations prescribed by the Board, to engage in open market
operations. (12 U.S.C. 355-59).
Abstract: The Federal Reserve proposes to conduct, with revision,
the second stage of a two-stage survey of finance companies that is
conducted every five years (the ``quinquennial''). The second stage of
the quinquennial is the FR 3033s. The first stage of the quinquennial,
the Census of Finance Companies (FR 3033p) was in May 2015 sent to all
companies that met the criteria developed to identify the potential
universe of domestic finance companies. From the universe of finance
companies determined by the FR 3033p, a stratified random sample of
[[Page 15110]]
3,000 finance companies has been drawn for the FR 3033s. The survey
will be sent on March 21, 2016, and will collect detailed information,
as of December 31, 2015, from both assets and liability sides of the
respondents' balance sheets, along with income and expenses, the number
of accounts and offices, and the small-business credit they extend, if
any. The data collected from this voluntary survey will be used for two
purposes: to benchmark the consumer and business finance series
collected on the monthly Domestic Finance Company Report of
Consolidated Assets and Liabilities (FR 2248; OMB No. 7100-0005) and to
increase the Board's understanding of an important part of the
financial system.
Current Actions: On January 12, 2016, the Federal Reserve published
a notice in the Federal Register (81 FR 1421) requesting public comment
for 60 days on the proposal to extend the FR 3033s for three years and
to revise the survey by adding a section to solicit information from
the finance companies on income and expenses, number of accounts and
offices, and small business credit they extend. The comment period for
the notice expired on March 14, 2016. The Federal Reserve did not
receive any comments, and the information collection will be revised as
proposed.
Board of Governors of the Federal Reserve System, March 16,
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-06278 Filed 3-18-16; 8:45 am]
BILLING CODE 6210-01-P