[Federal Register Volume 85, Number 50 (Friday, March 13, 2020)]
[Notices]
[Pages 14679-14680]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05184]
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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 Compensation and Salary Surveys (FR 29a and FR 29b; OMB
No. 7100-0290).
DATES: Comments must be submitted on or before May 12, 2020.
ADDRESSES: You may submit comments, identified by FR 29a and FR 29b, 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: 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 below.
Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of
[[Page 14680]]
the Chief Data Officer, Board of Governors of the Federal Reserve
System, Washington, DC 20551, (202) 452-3829.
SUPPLEMENTARY INFORMATION: 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
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: Compensation and Salary Surveys.
Agency form number: FR 29a, FR 29b.
OMB control number: 7100-0290.
Frequency: FR 29a, annually; FR 29b, on occasion.
Respondents: Employers considered competitors of the Board.
Estimated number of respondents: FR 29a, 35; FR 29b, 10.
Estimated average hours per response: FR 29a, 6 hours; FR 29b, 1
hour.
Estimated annual burden hours: FR 29a, 210 hours; FR 29b, 50 hours.
General description of report: The FR 29a and FR 29b collect
information on salaries, employee compensation policies, and other
employee programs from employers that are considered competitors of the
Board. The data from the surveys primarily are used to determine the
appropriate salary structure and salary adjustments for Board
employees. The Board, along with other Financial Institutions Reform,
Recovery and Enforcement Act of 1989 (FIRREA) agencies,\1\ conduct the
FR 29a survey jointly. The FR 29b is collected by the Board only.
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\1\ For purposes of this proposal, the FIRREA agencies consist
of the Federal Reserve Board, the Office of the Comptroller of the
Currency, the Federal Deposit Insurance Corporation, the National
Credit Union Administration, the Commodity Futures Trading
Commission, the Farm Credit Administration, and the Securities and
Exchange Commission.
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Legal authorization and confidentiality: The FR 29 is authorized by
sections 10(4) and 11(1) of the Federal Reserve Act,\2\ which
authorizes the Board to determine employees' compensation. Survey
submissions are voluntary. The FR 29a survey is conducted by an outside
consultant that only submits to the Board a report of aggregate data.
Because the Board does not collect or have access to the individual
respondent data, no confidentiality issue arises with respect to the
individual responses to the FR 29a. Individual responses to the FR 29b
may be kept confidential on a case-by-case basis. The Board will
consider whether information collected through these surveys may be
kept confidential under exemption 4 of the Freedom of Information Act
(``FOIA''), which protects privileged or confidential commercial or
financial information,\3\ exemption 6, which protects information ``the
disclosure of which would constitute a clearly unwarranted invasion of
personal privacy,'' \4\ or any other applicable FOIA exemption.
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\2\ 12 U.S.C. 244 and 248(l).
\3\ 5 U.S.C. 552(b)(4).
\4\ 5 U.S.C. 552(b)(6).
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Consultation outside the agency: Willis Towers Watson and the Board
work together to review and update the survey instrument.
Board of Governors of the Federal Reserve System, March 10,
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-05184 Filed 3-12-20; 8:45 am]
BILLING CODE 6210-01-P