[Federal Register Volume 62, Number 158 (Friday, August 15, 1997)]
[Notices]
[Pages 43734-43735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-21651]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Submission to OMB Under 
Delegated Authority

Background

    Notice is hereby given of the final approval of proposed 
information collections by the Board of Governors of the Federal 
Reserve System (Board) under OMB delegated authority, as per 5 CFR 
1320.16 (OMB Regulations on Controlling Paperwork Burdens on the 
Public). 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.
FOR FURTHER INFORMATION CONTACT:
Chief, Financial Reports Section--Mary M. McLaughlin--Division of 
Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202-452-3829)
OMB Desk Officer--Alexander T. Hunt--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503 (202-395-7860)
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following reports:
    1. Report title: Commercial Bank Report of Consumer Credit
Agency form number: FR 2571
OMB Control number: 7100-0080
Effective Date: Reporting month ending September 30, 1997
Frequency: Monthly
Reporters: Commercial banks
Annual reporting hours: 2,475
Estimated average hours per response: 0.55
Number of respondents: 375
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a and 248(a)(2)) and is given confidential 
treatment under the Freedom of Information Act (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2571 collects information on consumer credit 
outstanding, by type of credit (automobile loans, revolving credit, and 
all other consumer credit), as of the last business day of the month, 
as well as three items on outstanding balances underlying securitized 
loan sales. The information, together with information obtained from 
other Federal Reserve reports and from secondary sources, is used to 
construct information on consumer credit for current analysis for 
monetary policy purposes. The following initially proposed revisions 
were approved:
    1. reduce the authorized panel size from 400 to 375 commercial 
banks;
    2. redefine loans to purchase automobiles (item 1 and Securitized 
Consumer Loans item 1.a) to include loans to purchase light trucks for 
personal use;
    3. eliminate the two annual items, Total noninstallment credit 
(item 5) and Total (item 6);
    4. eliminate the distinction between installment and noninstallment 
debt. (Items 1, 3, and 4 and Securitized Consumer Loans item 1.c were 
redefined to include both installment and noninstallment credit).
    In addition, the FR 2571 was revised to reflect a recent change to 
the Reports of Income and Condition (FFIEC 031-032; OMB No. 7100-0036; 
Call Reports), Schedule RC-L, memorandum item 5. In order to maintain 
the definitional relationship between the Call Report and FR 2571, the 
Federal Reserve revised FR 2571, Securitized Consumer Loans items 1.a 
through 1.c, to include all loans that have been securitized and sold, 
whether sold with or without recourse; previously, only loans 
securitized and sold without recourse were reported in these FR 2571 
items.
    2. Report titles: Quarterly Report of Interest Rates on Selected 
Direct

[[Page 43735]]

Consumer Installment Loans; Quarterly Report of Credit Card Plans
Agency form numbers: FR 2835, FR 2835a
OMB Control number: 7100-0085
Effective Date: The November 1997 reporting period
Frequency: Quarterly
Reporters: Commercial banks
Annual reporting hours: 90 (FR 2835), 200 (FR 2835a)
Estimated average hours per response: 0.15 (FR 2835), 0.50 (FR 2835a)
Number of respondents: 150 (FR 2835), 100 (FR 2835a)
Small businesses are not affected.
    General description of reports: This information collection is 
voluntary (12 U.S.C. 248(a)(2)). The FR 2835 is not given confidential 
treatment, and the FR 2835a is given confidential treatment under the 
Freedom of Information Act (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2835 collects the most common interest rate 
(largest dollar volume of loans) charged at a sample of commercial 
banks on two types of consumer loans made in a given week each quarter: 
new auto loans and other loans for consumer goods and personal 
expenditures. The FR 2835a collects two measures of average credit card 
interest rates from a sample of commercial banks. The information, 
together with information obtained from other Federal Reserve reports 
and from secondary sources, is used to construct information on 
consumer credit for current analysis for monetary policy purposes. On 
the FR 2835, the Federal Reserve redefined interest rates on loans for 
new automobiles (item 1) to include rates on loans to purchase light 
trucks for personal use and reduced the authorized panel size from 175 
to 150 commercial banks. On the FR 2835a, the Federal Reserve reduced 
the authorized panel size from 150 to 100 commercial banks.
    3. Report title: Monthly Survey of Industrial Electricity Use
Agency form numbers: FR 2009a, FR 2009b
OMB Control number: 7100-0057
Effective Date: Reporting month ending October 31, 1997
Frequency: Monthly
Reporters: Public and privately owned electric utilities (FR 2009a) and 
cogenerators (FR 2009b)
Annual reporting hours: 3,384
Estimated average hours per response: 1.0 (FR 2009a), 0.5 (FR 2009b)
Number of respondents: 183 (FR 2009a), 198 (FR 2009b)
Small businesses are not affected.
    General description of reports: This information collection is 
voluntary (12 U.S.C. 225a, 263, 353 et seq., and 461) and is given 
confidential treatment under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: These surveys have collected information on the volume of 
electric power sold during the month to classes of industrial 
customers. The electric power data are used in deriving the Federal 
Reserve's monthly index of industrial production (IP) as well as for 
calculating the monthly estimates of electric power used by industry. 
The electric utility industry is currently restructuring in response to 
deregulation at the federal and state levels. The Federal Reserve 
revised the FR 2009a such that respondents will report the amount of 
power delivered to industrial customers, instead of power sold, so that 
utilities will continue to report all power consumed by industrial 
customers connected to their facilities. The FR 2009b was not revised.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    4. Report title: Quarterly Gasoline Company Report
Agency form number: FR 2580
OMB Control number: 7100-0009
Frequency: Quarterly
Reporters: Gasoline companies
Annual reporting hours: 4
Estimated average hours per response: 0.15
Number of respondents: 7
Small businesses are not affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a, 263, 353 et seq. and 461) and is given 
confidential treatment under the Freedom of Information Act (5 U.S.C. 
552(b)(4)).
    Abstract: The FR 2580 collects information on open-end retail 
credit outstanding from seven gasoline companies. The information, 
together with information obtained from other Federal Reserve reports 
and from secondary sources, is used to construct information on 
consumer credit for current analysis for monetary policy purposes.

    Board of Governors of the Federal Reserve System, August 11, 
1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-21651 Filed 8-14-97; 8:45AM]
Billing Code 6210-01-F