[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Notices]
[Pages 51447-51448]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18515]
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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 Board 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: 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, without revision, of the following reports:
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 burden hours: Primary and Secondary Credit, 1
hour; Seasonal Credit, 383 hours.
[[Page 51448]]
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, 85.
General description of report: The Board's Legal Division has
determined that the FR 2046 is authorized pursuant to sections 10B and
19(b)(7) of the Federal Reserve Act (12 U.S.C. 347b and 461(b)(7)) and
the Board's Regulation A (12 CFR part 201). Sections 10B and 19(b)(7)
authorize Federal Reserve Banks to make advances to a member bank or
other depository institution on the borrower's time or demand notes
under rules and regulations prescribed by the Board. The Board's
Regulation A sets out the rules for obtaining such advances. The FR
2046 is required to obtain a benefit because an entity may be required
to file the form in order to borrow from the Federal Reserve's discount
window. Individual respondent data are regarded as confidential under
the Freedom of Information Act (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 that encompasses the dates of
borrowing.
Current Actions: On May 19, 2016, the Board published a notice in
the Federal Register (81 FR 31635) requesting public comment for 60
days on the extension, without revision, of the FR 2046. The comment
period for this notice expired on July 18, 2016. The Federal Reserve
did not receive any comments.
Final approval under OMB delegated authority of the extension for
three years, with revision, of the following report:
Report title: Payments Research Survey.
Agency form number: FR 3067.
OMB control number: 7100-0355.
Frequency: On occasion.
Reporters: Depository institutions, financial and nonfinancial
businesses and related entities, individual consumers, households, and
federal, state and local government agencies.
Estimated annual burden hours: 30,000 hours.
Estimated average hours per response: 1.5 hours.
Number of respondents: 10,000.
General description of report: This survey is generally authorized
by sections 2A and 12A of the Federal Reserve Act (FRA). Section 2A of
the FRA requires that the Board of Governors of the Federal Reserve
System 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 the 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 with a view to accommodating commerce and business and with
regard to the regulations' bearing upon the general credit situation of
the country (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 section 609 (12 U.S.C. 4008)
Electronic Fund Transfer Act section 920 (15 U.S.C. 1693o-2)
The Check Clearing for the 21st Century Act section 15 (12
U.S.C. 5014)
Federal Reserve Act section 11 (Examinations and reports,
Supervision over Reserve Banks, and Federal Reserve Note provisions, 12
U.S.C. 248); section 11A (Pricing of Services, 12 U.S.C. 248a); section
13 (FRB deposits and collections, 12 U.S.C. 342); and section 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 circumstances,
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. 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 (5 U.S.C. 552(b)(8)).
Abstract: This survey collects information, as needed, on specific
and time sensitive issues, which may affect the Federal Reserve's
decision making. Respondents may comprise depository institutions,
financial and nonfinancial businesses and related entities, individual
consumers, households, and federal, state and local government
agencies. This survey may be mandatory for a certain subset of entities
and voluntary for all other respondents. The Federal Reserve uses this
event-driven survey to obtain information specifically tailored to the
Federal Reserve System's supervisory, regulatory, fiscal, and
operational responsibilities. The Federal Reserve may conduct various
versions of the survey, as needed, and may survey respondents up to
four times per year. The frequency and content of the questions depends
on changing economic, regulatory, supervisory, or legislative
developments.
Current Actions: On May 19, 2016, the Board published a notice in
the Federal Register (81 FR 31635) requesting public comment for 60
days on the extension, with revision, of the FR 3067. The comment
period for this notice expired on July 18, 2016. The Federal Reserve
did not receive any comments. The revisions will be implemented as
proposed.
Board of Governors of the Federal Reserve System, July 28, 2016.
Robert deV. Frierson
Secretary of the Board.
[FR Doc. 2016-18515 Filed 8-3-16; 8:45 am]
BILLING CODE 6210-01-P