[Federal Register Volume 71, Number 132 (Tuesday, July 11, 2006)]
[Notices]
[Pages 39118-39119]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-10782]


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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, 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-Is 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 
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 September 11, 2006.

ADDRESSES: You may submit comments, identified by FR 3059, 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 in Room MP-500 of the Board's Martin Building (20th and C 
Streets, N.W.) between 9 a.m. and 5 p.m. on weekdays.

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.
    Michelle Long, 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.
    Proposals to approve under OMB delegated authority to conduct the 
following survey:
    Report title: 2007 Survey of Consumer Finance.
    Agency form number: FR 3059.
    OMB control number: 7100-0287.
    Frequency: One-time survey.
    Reporters: U.S. families.
    Annual reporting hours: 7,500 hours.
    Estimated average hours per response: Pretest and Survey, 75 
minutes each.
    Number of respondents: Pretest, 400 families; Survey 5,600 
families.
    General description of report: This information collection is 
voluntary. The Federal Reserve's statutory basis for collecting this 
information is section 2A, 14, and 19 of the Federal Reserve Act (12 
U.S.C. 225(a), 353, and 461); the Bank Merger Act (12 U.S.C. 1828(c)); 
and sections 3 and 4 of the Bank Holding Company Act (12 U.S.C. 1842 
and 1843). The names and other characteristics that would permit 
identification of respondents are deemed confidential by the Board and 
are exempt from disclosure pursuant to exemption 6 in the Freedom of 
Information Act (5 U.S.C. 552(b)(6)).
    Abstract: For many years, the Board has sponsored consumer surveys 
to obtain information on the financial behavior of households. The 2007

[[Page 39119]]

Survey of Consumer Finance (SCF) will be the latest in a triennial 
series, which began in 1983, that provides comprehensive data for U.S. 
families on the distribution of assets and debts, along with related 
information and other data items necessary for analyzing financial 
behavior. These are the only surveys conducted in the United States 
that provide such financial data for a representative sample of 
households. Data for the SCF are collected by interviewers using a 
computer program. While some questions may be deleted and others 
modified, only minimal changes will be made to the questionnaire in 
order to preserve the time series properties of the data. The pretest 
would be conducted during 2006 and the survey would be conducted 
between May 2007 and January 2008.

    Board of Governors of the Federal Reserve System, July 5, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-10782 Filed 7-10-06; 8:45 am]
BILLING CODE 6210-01-P