[Federal Register Volume 85, Number 140 (Tuesday, July 21, 2020)]
[Notices]
[Pages 44078-44079]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15402]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Consumer and Stakeholder Surveys (FR 3073; OMB No. 7100-
0359).
DATES: Comments must be submitted on or before September 21, 2020.
ADDRESSES: You may submit comments, identified by FR 3073, by any of
the following methods:
Agency Website: https://www.federalreserve.gov/. Follow
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
Email: [email protected]. Include the 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
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any identifying or
contact information. Public comments may also be viewed electronically
or in paper in Room 146, 1709 New York Avenue 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
Office of Management and Budget (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: 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.
SUPPLEMENTARY INFORMATION: A copy of the Paperwork Reduction Act (PRA)
OMB submission, including the reporting form and instructions,
supporting statement, and other documentation will be placed into OMB's
public docket files, if approved. These documents will also be made
available on the Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears in FOR FURTHER
INFORMATION CONTACT.
On June 15, 1984, OMB delegated to the Board authority under the
PRA to approve and assign OMB control numbers to collections of
information 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 Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board'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
[[Page 44079]]
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 Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Report title: Consumer and Stakeholder Surveys.
Agency form number: FR 3073.
OMB control number: 7100-0359.
Frequency: As needed.
Respondents: Consumers and other stakeholders.
Estimated number of respondents: Consumer quantitative surveys
(medium): 3,000; consumer quantitative surveys (large): 6,000; consumer
qualitative surveys: 50; stakeholder quantitative surveys: 1,500;
stakeholder qualitative surveys: 50.
Estimated average hours per response: Consumer quantitative surveys
(medium): 0.25; consumer quantitative surveys (large): 0.4; consumer
qualitative surveys: 1.5; stakeholder quantitative surveys: 0.25;
stakeholder qualitative surveys: 1.5.
Estimated annual burden hours: Consumer quantitative surveys
(medium): 3,000; consumer quantitative surveys (large): 4,800; consumer
qualitative surveys: 600; stakeholder quantitative surveys: 3,000;
stakeholder qualitative surveys: 600; total: 12,000.
General description of report: The surveys in this collection
gather quantitative and qualitative information directly from
individual consumers or households (consumer surveys) on consumer
finance topics. This collection also gathers quantitative and
qualitative information on current and emerging community economic
issues from stakeholders (stakeholder surveys). Examples of
stakeholders include community groups, community development
organizations, nonprofit service providers, faith-based service
organizations, public sector agencies, small business owners, health
care organizations, food banks, K-12 public and private schools,
community colleges, community development financial institutions,
credit unions, banks, and other financial institutions and companies
offering financial products and services. While these surveys are
ongoing, the frequency and content of the questions may change
depending on economic conditions, regulatory or legislative
developments, as well as changes in technology, business practices, and
other factors affecting consumers, stakeholders, and communities.
Legal authorization and confidentiality: The FR 3073 is authorized
by sections 2A and 12A of the Federal Reserve Act (FRA). Section 2A of
the 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 the maximum
employment, stable prices, and moderate long-term interest rates.''
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 their bearing upon the general credit situation of the
country.'' The information collection under the FR 3073 is used to
fulfill these obligations.
In addition, the Board is responsible for implementing and drafting
regulations and interpretations for various consumer protection laws.
The information obtained from the FR 3073 may be used in support of the
Board's development and implementation of regulatory provisions for
these laws. Therefore, depending on the survey questions asked, the FR
3073 may be authorized pursuant to the Board's authority under one or
more of those consumer protection statutes.
The ability of the Board to maintain the confidentiality of
information provided by respondents to the FR 3073 surveys will have to
be determined on a case-by-case basis depending on the type of
information provided for a particular survey. Some of the information
collected on the surveys may be protected from Freedom of Information
Act (FOIA) disclosure by FOIA exemptions 4 and 6. Exemption 4 protects
from disclosure 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.''
Board of Governors of the Federal Reserve System, July 13, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-15402 Filed 7-20-20; 8:45 am]
BILLING CODE 6210-01-P