[Federal Register Volume 67, Number 232 (Tuesday, December 3, 2002)]
[Notices]
[Pages 71969-71970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-30546]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System

ACTION: Notice

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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-I's 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 
ethodology 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 February 3, 2003.

ADDRESSES: Comments may be mailed to Ms. Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, NW., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by e-mail 
to [email protected], or faxing them to the Office of 
the Secretary at 202-452-3819 or 202-452-3102. Comments addressed to 
Ms. Johnson may also be delivered to the Board's mail facility in the 
West Courtyard between 8:45 a.m. and 5:15 p.m., located on 21st Street 
between Constitution Avenue and C Street, NW. Members of the public may 
inspect comments in Room MP-500 between 9 a.m. and 5 p.m. on weekdays 
pursuant to 261.12, except as provided in 261.14, of the Board's Rules 
Regarding Availability of Information, 12 CFR 261.12 and 261.14 A copy 
of the comments may also be submitted to the OMB desk officer for the 
Board: Joseph Lackey, Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, Room 
10235, Washington, DC 20503.

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. Cindy Ayouch, 
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.

SUPPLEMENTARY INFORMATION:

Proposal to Approve Under OMB Delegated Authority the Extension for 
Three Years, with Revision, of the Following Report:

    Report title: Survey of Terms of Bank Lending.
    Agency form number: FR 2028A, FR 2028B, and FR 2028S
    OMB control number: 7100-0061.
    Frequency: Quarterly.
    Reporters: commercial banks (all three reports) and U.S. branches 
and agencies

[[Page 71970]]

of foreign banks (FR 2028A and FR 2028S).
    Annual reporting hours: 8,095 hours.
    Estimated average hours per response: FR 2028A: 4.0. FR 2028B: 1.5. 
FR 2028S: 0.1.
    Number of respondents: FR 2028A: 398. FR 2028B: 250. FR 2028S: 567.
    Small businesses are affected.
    General description of report: This information collection is 
voluntary (12 U.S.C. Sec.  248(a)(2)) and is given confidential 
treatment (5 U.S.C. Sec.  552(b)(4)).
    Abstract: The Survey of Terms of Bank Lending provides unique 
information concerning the price and certain nonprice terms of loans 
made to businesses and farmers by commercial banks. The reports are 
completed for the first full business week of the mid-month of each 
quarter (February, May, August, and November). The FR 2028A and B 
collect detailed data on individual loans made during the survey week. 
The FR 2028S collects the prime interest rate for each day of the 
survey. From these sample STBL data, estimates of the terms of business 
and farm loans extended during the reporting week at all insured U.S. 
commercial banks are constructed. The estimates for business loans are 
published in the quarterly E.2 release, ``Survey of Terms of Bank 
Lending,'' while estimates for farm loans are published in the 
quarterly E.15 release, ``Agricultural Finance Databook.''
    Current actions: The Federal Reserve proposes to revise the FR 
2028A by: (1) adding a field for the date on which the terms, including 
pricing, for loans made under formal commitment became effective, (2) 
reducing the number of base pricing rate options from five to one, (3) 
deleting the item indicating whether loans are callable, (4) modifying 
the format of the recalculation and maturity date items, and (5) making 
minor clarifications to the instructions. The Federal Reserve also 
proposes to revise the FR 2028B by modifying the format of the 
recalculation and maturity date items. The proposed revisions to 
reporting forms and instructions would be effective for the May 2003 
survey week. No changes are proposed to the FR 2028S. The FR 2028A and 
FR 2028B reporting instructions would be revised according to the 
proposed changes, with other minor clarifications.
    Board of Governors of the Federal Reserve System, November 26, 
2002.

Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-30546 Filed 12-2-02; 8:45 am]
BILLING CODE 6210-01-S