[Federal Register Volume 68, Number 32 (Tuesday, February 18, 2003)]
[Notices]
[Page 7791]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-3822]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

SUMMARY: 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). 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 instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer Cindy Ayouch-- Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829); OMB Desk Officer Joseph Lackey--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503.

Final Approval Under OMB Delegated Authority of The Extension For Three 
Years, With Revision, of the Following Reports:

    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 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. 248(a)(2)) and is given confidential treatment (5 
U.S.C. 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: On December 3, 2002, the Federal Reserve published 
a notice soliciting comments for 60 days on proposed revisions to the 
Survey of Terms of Bank Lending (67 FR 71969). The notice described the 
Federal Reserve's proposal 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 proposed 
to revise the FR 2028B by modifying the format of the recalculation and 
maturity date items. The FR 2028A and FR 2028B reporting instructions 
will be revised according to the proposed changes, with other minor 
clarifications. No changes are being made to the FR 2028S. The Federal 
Reserve did not receive any comments on the proposed changes. The 
revisions to the reporting forms and instructions will be effective for 
the May 2003 survey week.
    Board of Governors of the Federal Reserve System, February 11, 
2003.

Jennifer J. Johnson
Secretary of the Board.
[FR Doc. 03-3822 Filed 2-14-03; 8:45 am]
BILLING CODE 6210-01-S