[Federal Register Volume 70, Number 237 (Monday, December 12, 2005)]
[Notices]
[Pages 73471-73472]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-7207]


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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-Is 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--Michelle Long--Division of Research and Statistics, Board of 
Governors of the Federal Reserve System, Washington, DC 20551 (202-452-
3829). OMB Desk Officer--Mark Menchik--Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235,

[[Page 73472]]

Washington, DC 20503, or e-mail to [email protected].

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Minor Revision, of the Following Reports

    1. Report title: Survey of Terms of Lending.
    Agency form number: FR 2028A, FR 2028B, and FR 2028S.
    OMB control number: 7100-0061.
    Frequency: Quarterly.
    Reporters: Commercial banks; and U.S. branches and agencies of 
foreign banks (FR 2028A and FR 2028S only).
    Annual reporting hours: 7,317 hours.
    Estimated average hours per response: FR 2028A, 3.7 hours; FR 
2028B, 1.2 hours; and FR 2028S, 0.1 hours.
    Number of respondents: FR 2028A, 398; FR 2028B, 250; and FR 2028S, 
567.
    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 Lending provides unique 
information concerning both price and certain nonprice terms of loans 
made to businesses and farmers during the first full business week of 
the mid-month of each quarter (February, May, August, and November). 
The survey comprises three reporting forms: the FR 2028A, Survey of 
Terms of Business Lending; the FR 2028B, Survey of Terms of Bank 
Lending to Farmers; and the FR 2028S, Prime Rate Supplement to the 
Survey of Terms of Lending. The FR 2028A and B collect detailed data on 
individual loans made during the survey week, and the FR 2028S collects 
the prime interest rate for each day of the survey from both FR 2028A 
and FR 2028B respondents. From these sample data, estimates of the 
terms of business loans and farm loans extended during the reporting 
week are constructed. The estimates for business loans are published in 
the quarterly E.2 release, Survey of Terms of Business Lending, while 
estimates for farm loans are published in the quarterly E.15 release, 
Agricultural Finance Databook.
    Current Actions: On September 29, 2005, the Federal Reserve 
published a notice soliciting comments on proposed revisions to the 
Survey of Terms of Lending (70 FR 56897). The comment period ended on 
November 28, 2005. The notice described the Federal Reserve's proposal 
to revise the FR 2028A and FR 2028B by increasing to $3,000 the minimum 
size of loans reported. No changes were proposed to the FR 2028S. The 
Federal Reserve did not receive any comments on the proposed revisions. 
The revisions will be effective for the May 2006 survey week.
    2. Report title: Report of Terms of Credit Card Plans.
    Agency form number: FR 2572.
    OMB control number: 7100-0239.
    Frequency: Semi-annual.
    Reporters: Commercial banks, savings banks, industrial banks, and 
savings and loans associations.
    Annual reporting hours: 75 hours.
    Estimated average hours per response: 0.25 hours.
    Number of respondents: 150.
    General description of report: This information collection is 
voluntary (15 U.S.C. Sec.  1646(b)) and is not given confidential 
treatment.
    Abstract: This report collects data on credit card pricing and 
availability from a sample of at least 150 financial institutions that 
offer credit cards to the general public. The information is reported 
to the Congress and made available to the public in order to promote 
competition within the industry.
    Current Actions: On September 29, 2005, the Federal Reserve 
published a notice soliciting comments on the proposed revisions to the 
Report of Terms of Credit Card Plans (70 FR 56897). The comment period 
ended on November 28, 2005. The Federal Reserve did not receive any 
comments. The changes will be implemented as proposed. The Federal 
Reserve will clarify the FR 2572 reporting form and instructions with 
regard to items 56 through 58, in which the fee amounts for cash 
advances, late payments, and exceeding the credit limit are reported. 
Clarification is needed to ensure that only one of two mutually 
exclusive responses is reported. Responses must diverge according to 
whether the particular fee is uniform or variable over the card plan's 
geographic area of availability.

Discontinuation of the Following Report

    Report title: Monthly Survey of Industrial Electricity Use.
    Agency form number: FR 2009.
    OMB control number: 7100-0057.
    Frequency: Monthly.
    Reporters: FR 2009a/c, Electric utility companies; and FR 2009b, 
cogenerators.
    Annual reporting hours: FR 2009a/c, 1,920 hours; and FR 2009b, 900 
hours.
    Estimated average hours per response: FR 2009a/c, 1 hour; and FR 
2009b, 30 minutes. Number of respondents: FR 2009a/c, 160; and FR 
2009b, 150.
    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 (5 U.S.C. 552(b)(4)).
    Abstract: This voluntary survey collected information on the volume 
of electric power delivered during the month to classes of industrial 
customers. There were three versions of the survey: the FR 2009a and FR 
2009c collected information from electric utilities, the FR 2009a in 
Standard Industrial Codes and the FR 2009c in North American Industry 
Classification System codes. The FR 2009b collected information from 
manufacturing and mining facilities that generate electric power for 
their own use. The electric power data were used in deriving the 
Federal Reserve's monthly index of industrial production as well as for 
calculating the monthly estimates of electric power used by industry.
    Current Actions: On September 29, 2005, the Federal Reserve 
published a notice soliciting comments on the proposed revisions to the 
Monthly Survey of Industrial Electricity Use (70 FR 56897). The comment 
period ended on November 28, 2005. The Federal Reserve did not receive 
any comments. This information collection has been discontinued. The 
reliability of the FR 2009 data has decreased in recent years due to 
industry consolidation that resulted from the deregulation of the 
electricity markets. Since 1997 the panel size has decreased by about 
30 percent and the coverage of the panel in terms of the amount of 
electric power used by industry has also fallen about 30 percent. 
Consequently, the electric power data have become unacceptably volatile 
and have required a significant increase in resources to continue the 
use of these data in the construction of industrial production.

    Board of Governors of the Federal Reserve System, December 7, 
2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5-7207 Filed 12-9-05; 8:45 am]
BILLING CODE 6210-01-P