[Federal Register Volume 85, Number 125 (Monday, June 29, 2020)]
[Notices]
[Pages 38895-38896]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13857]
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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: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
Compensation and Salary Surveys (FR 29a and FR 29b; OMB No. 7100-0290).
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.
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.
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.
These documents also are available on the Federal Reserve 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 above.
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. Board-
approved collections of information are incorporated into the official
OMB inventory of currently approved collections of information. Copies
of the PRA Submission, supporting statements, and approved collection
of information instrument(s) are placed into OMB's public docket files.
Final Approval under OMB Delegated Authority of the Extension for
Three Years, Without Revision, of 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
[[Page 38896]]
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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Current actions: On March 13, 2020, the Board published a notice in
the Federal Register (85 FR 14679) requesting public comment for 60
days on the extension, without revision, of the Compensation and Salary
Surveys. The comment period for this notice expired on May 12, 2020.
The Board did not receive any comments.
Board of Governors of the Federal Reserve System, June 23, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board
[FR Doc. 2020-13857 Filed 6-26-20; 8:45 am]
BILLING CODE 6210-01-P