[Federal Register Volume 75, Number 176 (Monday, September 13, 2010)]
[Notices]
[Pages 55579-55580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-22659]
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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 (PRA),
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 Paperwork Reduction Act
Submission, 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 Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, 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 November 12, 2010.
ADDRESSES: You may submit comments, identified by FR 2248 or FR 3033s
by any of the following methods:
Agency Web Site: http://www.federalreserve.gov. Follow the
instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected]. 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 form 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.
Additionally, commenters should send a copy of their comments to
the OMB Desk Officer by mail to the Office of Information and
Regulatory Affairs, U.S. 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 PRA OMB submission,
including the proposed reporting form and instructions, supporting
statement, and other documentation will be placed into OMB's public
docket files, once approved. These documents will also be
[[Page 55580]]
made available on the Federal Reserve Board's public Web site at:
http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may
be requested from the agency clearance officer, whose name appears
below. Michelle Shore, 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, with revision, of the following report:
Report title: Domestic Finance Company Report of Consolidated
Assets and Liabilities.
Agency form number: FR 2248.
OMB control number: 7100-0005.
Frequency: Monthly, Quarterly, and Semi-annually.
Reporters: Domestic finance companies and mortgage companies.
Estimated annual reporting hours: 350 hours.
Estimated average hours per response: Monthly, 20 minutes;
Quarterly, 30 minutes; Semi-annually, 10 minutes.
Number of respondents: 70.
General description of report: This information collection is
authorized pursuant the Federal Reserve Act (12 U.S.C. 225(a)).
Obligation to respond to this information collection is voluntary.
Individual respondent data are confidential under section (b)(4) of the
Freedom of Information Act (5 U.S.C. 552).
Abstract: The FR 2248 is collected monthly as of the last calendar
day of the month from a stratified sample of finance companies. Each
monthly report collects balance sheet data on major categories of
consumer and business credit receivables and on major short-term
liabilities. For quarter-end months (March, June, September, and
December), additional asset and liability items are collected to
provide a full balance sheet. A supplemental section collects data on
securitized assets. The data are used to construct universe estimates
of finance company holdings, which are published in the monthly
statistical releases Finance Companies (G.20) and Consumer Credit
(G.19), in the quarterly statistical release Flow of Funds Accounts of
the United States (Z.1), and in the Federal Reserve Bulletin (Tables
1.51, 1.52, and 1.55).
Current Actions: The Federal Reserve proposes to revise the FR 2248
reporting form by: (1) Revising the reporting frequency for the
breakout of 1-4 family real estate loans from quarterly to monthly, (2)
adding data items in the liability and equity capital section of the
report, (3) reordering the asset and liability data items from most
liquid to least liquid, (4) adding two columns to create a clearer
distinction among broad balance sheet data items, which are collected
quarterly, detailed loan and lease data items, which are collected
monthly, and the off-balance-sheet securitization data items; and (5)
deleting the supplemental data items on the sale of receivables. The
proposed changes to the FR 2248 would be effective with the December
31, 2010, report date.
Proposal to approve under OMB delegated authority the
implementation of the following report:
Report title: Survey of Finance Companies.
Agency form number: FR 3033s.
OMB control number: 7100-0277.
Frequency: One-time.
Reporters: Finance companies and mortgage companies.
Estimated annual reporting hours: 2,700 hours.
Estimated average hours per response: 1.5 hours.
Number of respondents: 1,800.
General description of report: This information collection is
authorized pursuant the Federal Reserve Act (12 U.S.C. 225a, 263, and
355-59). Obligation to respond to this information collection is
voluntary. Individual respondent data are confidential under section
(b)(4) of the Freedom of Information Act (5 U.S.C. 552).
Abstract: This information collection is a two-stage survey of
finance and mortgage companies. The first stage is a simple
questionnaire (FR 3033p) that is sent to all known domestic finance and
mortgage companies and that asks for information about each company's
total net assets, areas of specialization, and other characteristics.
From the questionnaire respondents, the Federal Reserve draws a
stratified random sample of finance and mortgage companies for the
second stage, the survey itself (FR 3033s). The survey requests
detailed information from both sides of the respondents' balance
sheets. The Federal Reserve Board initiates data collection and
analysis, and staff at the Federal Reserve Banks follow up on data
quality issues, collect data from late FR 3033s, and resolve other
outstanding questions.
Current Actions: The first stage of this survey, the Census of
Finance Companies (FR 3033p), was conducted in April 2010. The FR 3033p
was sent to all companies that met the criteria developed to identify
the potential universe of domestic finance companies. From the universe
of finance companies as determined by the FR 3033p, a stratified random
sample of 3,000 finance companies would be drawn for the FR 3033s. The
survey would be sent in February 2011 and collect detailed information,
as of December 31, 2010, from both sides of the respondents' balance
sheets, as well as companies' geographic scope of operations and
servicing activities. The data collected from this survey would be used
for two purposes: To benchmark the consumer and business finance series
collected on the monthly Domestic Finance Company Report of
Consolidated Assets and Liabilities (FR 2248; OMB No. 7100-0005) and to
increase the Federal Reserve's understanding of an important part of
the financial system.
The Federal Reserve proposes to revise the FR 3033s by: (1)
Increasing the respondent panel size from 750 to 3,000, (2) adding a
section to solicit information on servicing activities and geographic
distribution of the company's activities, (3) changing the survey
title, (4) revising the reporting form by reordering the asset and
liability data items from most liquid to least liquid and asking for
additional detail on assets and liabilities, and (5) adding two columns
to create a clearer distinction among the broad balance sheet data
items, detailed loan and lease data items, and off-balance-sheet
securitization data items.
Board of Governors of the Federal Reserve System, September 7,
2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-22659 Filed 9-10-10; 8:45 am]
BILLING CODE 6210-01-P