[Federal Register Volume 77, Number 21 (Wednesday, February 1, 2012)]
[Notices]
[Pages 5015-5017]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-2104]


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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 
(PRA), pursuant to 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 Paperwork Reduction Act 
Submission, 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.

DATES: Comments must be submitted on or before April 2, 2012.

ADDRESSES: You may submit comments, identified by FR 3051, FR 3059, FR 
H-4, or RFP/RFPQ 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.
     Email: [email protected]. Include OMB 
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 
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 form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 9 
a.m. and 5 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--Office of Information and Regulatory 
Affairs, Office of Management and Budget, New Executive Office 
Building, Room 10235 725 17th Street NW., Washington, DC 20503 or by 
fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may be 
requested from the agency clearance officer, whose name appears below.
    Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551 (202) 452-3829 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:

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, 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;
    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; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.

Proposal To Approve Under OMB Delegated Authority the Extension for 
Three Years, Without Revision, the Following Reports

    1. Report title: Microeconomic Survey.
    Agency form number: FR 3051.
    OMB control number: 7100-0321.

[[Page 5016]]

    Frequency: Annually and monthly, as needed.
    Reporters: Individuals, households, and financial and non-financial 
businesses.
    Estimated annual reporting hours: Annual, 6,000 hours; Monthly, 
18,000 hours.
    Estimated average hours per response: Annual, 60 minutes; Monthly, 
30 minutes.
    Estimated number of respondents: Annual, 6,000; Monthly, 3,000.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225A and 263). If needed, the Federal Reserve can 
make this survey mandatory for Federal Reserve regulated institutions 
under section 9 of the Federal Reserve Act (12 U.S.C. 324) for state 
member banks; section 5(c) of the Bank Holding Company Act (12 U.S.C. 
1844(c)) for bank holding companies and their subsidiaries; sections 25 
and 25(A) of the Federal Reserve Act (12 U.S.C. 602 and 625) for Edge 
and agreement corporations; and section 7(c)(2) of the International 
Banking Act of 1978 (12 U.S.C. 3105(c)(2)) for U.S. branches and 
agencies of foreign banks. Generally, when the survey or study is 
conducted by an outside firm, names or other such directly identifying 
characteristics would not be reported to the Federal Reserve. In 
circumstances where identifying information is provided to the Federal 
Reserve, such information could possibly be protected from Freedom of 
Information Act (FOIA) disclosure by exemptions 4 and 6 (5 U.S.C. 
552(b)(4) and (6)).
    Abstract: The Federal Reserve uses this event-driven survey to 
obtain information specifically tailored to the Federal Reserve's 
supervisory, regulatory, operational, and other responsibilities. The 
Federal Reserve can conduct the FR 3051 up to 13 times per year (one 
survey on an annual basis and another on a monthly basis). The 
frequency and content of the questions depend on changing economic, 
regulatory, or legislative developments.

    2. Report title: Recordkeeping Requirements Associated with Real 
Estate Appraisal Standards for Federally Related Transactions Pursuant 
to Regulations H and Y.
    Agency form number: FR H-4.
    OMB control number: 7100-0250.
    Frequency: Event-generated.
    Reporters: State Member Banks (SMBs) and nonbank subsidiaries of 
Bank Holding Companies (BHCs).
    Estimated annual reporting hours: SMBs, 30,488 hours; nonbank 
subsidiaries of BHCs, 11,494 hours.
    Estimated average hours per response: SMBs, 0.25; nonbank 
subsidiaries of BHCs, 0.25.
    Number of respondents: SMBs, 824; nonbank subsidiaries of BHCs, 
613.
    General description of report: The recordkeeping requirements of 
this information collection are mandatory (12 U.S.C. 3339). Since the 
Federal Reserve does not collect this information, confidentiality will 
not generally be an issue. However, if the Federal Reserve were to 
collect a copy of the appraisal report during an examination, the 
documents could be exempt from disclosure under FOIA (5 U.S.C 552(b)(4) 
and (b)(8)).
    Abstract: For federally related transactions, Title XI of the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 
(FIRREA) requires SMBs and BHCs with credit extending nonbank 
subsidiaries to use appraisals prepared in accordance with the Uniform 
Standards of Professional Appraisal Practice promulgated by the 
Appraisal Standards Board of the Appraisal Foundation. Generally, these 
standards include the methods and techniques used to analyze a property 
as well as the requirements for reporting such analysis and a value 
conclusion in the appraisal. SMBs and BHCs with credit-extending 
nonbank subsidiaries are expected to maintain records that demonstrate 
that appraisals used in their real estate-related lending activities 
comply with these regulatory requirements. There is no formal reporting 
form.

    3. Report title: Request for Proposal (RFP) and Request for Price 
Quotations (RFPQ).
    Agency form number: RFP/RFPQ.
    OMB control number: 7100-0180.
    Frequency: On-occasion.
    Reporters: Vendors and suppliers.
    Estimated annual reporting hours: RFP, 7,000 hours; RFPQ, 1,700 
hours.
    Estimated average hours per response: RFP, 50 hours; RFPQ, 2 hours.
    Number of respondents: RFP, 140; RFPQ, 850.
    General description of report: This information collection is 
required to obtain a benefit and is authorized by Sections 10(3), 
10(4), and 11(1) of the Federal Reserve Act (12 U.S.C. 243, 244, and 
248(l)). Proposals from vendors that are not accepted and incorporated 
into contracts with the Federal Reserve would be protected from FOIA 
disclosure by (41 U.S.C. 4702), which expressly prohibits FOIA 
disclosure of these proposals. Moreover, during the solicitation 
process vendors are permitted to mark information contained in their 
proposals that is proprietary or confidential with the label RESTRICTED 
DATA. For information so marked, the Federal Reserve also may determine 
on a case-by-case basis whether FOIA exemption 4, which applies to 
``trade secrets and commercial or financial information,'' would 
protect information from disclosure pursuant to a FOIA request (5 
U.S.C. 552(b)(4)).
    Abstract: The Federal Reserve Board uses the RFP and the RFPQ as 
appropriate to obtain competitive proposals and contracts from approved 
vendors of goods and services. This information collection is required 
to collect data on prices, specifications of goods and services, and 
qualifications of prospective vendors.

Proposal To Conduct Under OMB Delegated Authority the Following Survey

    Report title: 2013 Survey of Consumer Finances (SCF).
    Agency form number: FR 3059.
    OMB control number: 7100-0287.
    Frequency: One-time survey.
    Reporters: U.S. families.
    Estimated annual reporting hours: 8,938 hours.
    Estimated average hours per response: Pretest, 75 minutes; and Main 
survey, 75 minutes.
    Number of respondents: Pretest, 150; and Main survey, 7,000.
    General description of report: This information collection is 
voluntary (12 U.S.C. 225a and 263). The names and other characteristics 
that would directly identify respondents would be retained by the 
Federal Reserve's contractor and are exempt from disclosure pursuant to 
the Confidential Information Protection and Statistical Efficiency Act 
and section (b)(3) of the FOIA (5 U.S.C. 552 (b)(3)).
    Abstract: This would be the eleventh triennial SCF since 1983, the 
beginning of the current series. This survey is the only source of 
representative information on the structure of U.S. families' finances. 
The survey would collect data on the assets, debts, income, work 
history, pension rights, use of financial services, and attitudes of a 
sample of U.S. families. Because the ownership of some assets is 
relatively concentrated in a small number of families, the survey would 
make a special effort to ensure proper representation of such assets by 
systematically oversampling wealthier families.


[[Page 5017]]


    Board of Governors of the Federal Reserve System, January 26, 
2012.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2012-2104 Filed 1-31-12; 8:45 am]
BILLING CODE 6210-01-P