[Federal Register: August 29, 2005 (Volume 70, Number 166)]
[Notices]
[Page 51064]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29au05-55]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY
Background
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act, as
per 5 CFR 1320.16, to approve of and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR 1320
Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the OMB 83-Is and supporting
statements and approved collection of information instruments 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.
Request for Comment on Information Collection Proposal
The following information collection, which is being handled under
this delegated authority, has received initial Board approval and is
hereby published for comment. At the end of the comment period, the
proposed information collection, along with an analysis of comments and
recommendations received, will be submitted to the Board for final
approval under OMB delegated authority. Comments are invited on the
following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve'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; and
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.
DATES: Comments must be submitted on or before October 28, 2005.
ADDRESSES: You may submit comments, identified by unnum Regulation M,
by any of the following methods:
Agency Web site: http://www.federalreserve.gov Follow the instructions for submitting comments at http://www.federalreserve.gov/.
.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: 202/452-3819 or 202/452-3102.
Mail: Jennifer J. Johnson, 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 Web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical reasons. Accordingly, your
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper in Room MP-500 of the Board's Martin Building (20th and C
Streets, NW.), between 9 a.m. and 5 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and
instructions, the Paperwork Reduction Act Submission (OMB 83-I),
supporting statement, and other documents that will be placed into
OMB's public docket files once approved may be requested from the
agency clearance officer, whose name appears below.
Michelle Long, Federal Reserve Board Clearance Officer (202-452-
3829), Division of Research and Statistics, Board of Governors of the
Federal Reserve System, Washington, DC 20551. Telecommunications Device
for the Deaf (TDD) users may contact (202-263-4869), Board of Governors
of the Federal Reserve System, Washington, DC 20551.
Proposal to approve under OMB delegated authority the extension for
three years, without revision, of the following report:
Report title: The Recordkeeping and Disclosure Requirements in
Connection with Regulation M (Consumer Leasing).
Agency form number: Reg M.
OMB control number: 7100-0202.
Frequency: On occasion.
Reporters: Consumer lessors.
Annual reporting hours: Disclosures, 3,509 hours; and advertising,
25 hours.
Estimated average hours per response: Disclosures, 6.5 minutes; and
advertising, 25 minutes.
Number of respondents: 270.
General description of report: This information collection is
mandatory sections 105(a) and 187 of TILA (15 U.S.C. 1604(a) and
1667(f)) is not given confidential treatment.
Abstract: The Consumer Leasing Act and Regulation M are intended to
provide consumers with meaningful disclosures about the costs and terms
of leases for personal property. The disclosures enable consumers to
compare the terms for a particular lease with those for other leases
and, when appropriate, to compare lease terms with those for credit
transactions. The act and regulation also contain rules about
advertising consumer leases and limit the size of balloon payments in
consumer lease transactions. The information collection pursuant to
Regulation M is triggered by specific events. All disclosures must be
provided to the lessee prior to the consummation of the lease and when
the availability of consumer leases on particular terms is advertised.
Board of Governors of the Federal Reserve System, August 24,
2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 05-17134 Filed 8-26-05; 8:45 am]
BILLING CODE 6210-01-P