[Federal Register Volume 79, Number 142 (Thursday, July 24, 2014)]
[Notices]
[Pages 43045-43047]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17412]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: 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 September 22, 2014.

ADDRESSES: You may submit comments, identified by FR 28, FR 29, FR 
3016, and Reg H-5 by any of the following methods:
     Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx .
     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: Robert deV. Frierson, 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/apps/foia/proposedregs.aspx 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 
9:00 a.m. and 5:00 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/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Acting Clearance Officer--John Schmidt--
Office of the Chief Data Officer, 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, With Revision, of the Following Report

    Report title: Application for Employment with the Board of 
Governors of the Federal Reserve System.
    Agency form number: FR 28, FR 28i, FR 28s.
    OMB control number: 7100-0181.
    Frequency: On Occasion.
    Reporters: Employment applicants.
    Estimated annual reporting hours: 3,558 hours.
    Estimated average hours per response: FR 28: 1 hour; FR 28s: 1 
minute; FR 28i: 5 minutes.

[[Page 43046]]

    Number of respondents: FR 28: 3,500; FR 28s: 2,000; FR 28i: 300.
    General description of report: This information collection is 
required to obtain a benefit and is authorized pursuant to Sections 
10(4) and 11(1) of the Federal Reserve Act (12 U.S.C. Sec.  Sec.  244 
and 248(1)). Information provided will be kept confidential under 
exemption (b)(6) of the Freedom of Information Act to the extent that 
the disclosure of information ``would constitute a clearly unwarranted 
invasion of personal privacy.'' 5 U.S.C. Sec.  552(b)(6).
    Abstract: The Application collects information to determine the 
qualifications and availability of applicants for employment with the 
Board such as information on education and training, employment record, 
military service record, and other information since the time the 
applicant left high school. Included with the Application are two 
supplemental questionnaires: (1) The Applicant's Voluntary Self-
Identification Form (FR 28s), which collects information on the 
applicant's gender and ethnic group and (2) The Research Assistant (RA) 
Candidate Survey of Interests (FR 28i), which collects information from 
candidates applying for Research Assistant positions on their level of 
interest in economics and related areas.
    Current Actions: The Federal Reserve Board proposes to revise the 
FR 28 by (1) deleting the country of citizenship question in the case 
of non-citizens, (2) deleting the Military Service section, and (3) 
modify several criminal background questions. In addition, the Federal 
Reserve proposes to revise the FR 28i by updating the list of software 
packages used by the candidate, and adding a section for the candidate 
to write in their own career objectives.

Application (FR 28)

    The Federal Reserve Board proposes to revise the Background section 
by:
     Deleting the question regarding country (or countries) of 
citizenship if the applicant is not a United States citizen. In 2007, 
the Federal Reserve Board added a question regarding an applicant's 
country of citizenship (in the case of a non-citizen) to help determine 
whether the individual would be eligible for positions that required 
access to Confidential Supervisory Information (CSI) or Federal Open 
Market Committee (FOMC) information above Class III. However, the 
Federal Reserve Board now proposes to delete this question because: (1) 
The Federal Reserve Board generally only hires U.S. citizens or 
nationals; (2) a non-citizen's country of citizenship is but one factor 
in determining whether a non-citizen is eligible for a position that 
requires access to CSI or FOMC information above Class III so this 
information alone would not definitively resolve the issues of 
eligibility for hire; and (3) information regarding citizenship can 
readily be obtained directly from the few employees who are non-
citizens and require access to CSI or FOMC information above Class III.
     Deleting the Military Service section. This section was 
used to determine whether an applicant was entitled to preference in 
hiring under the Veterans' Preference Act and the Federal Reserve Board 
has determined that it is not subject the Veterans' Preference Act and, 
based on EEOC guidance, may not voluntarily comply with it. Thus, this 
section is no longer necessary.
    The Federal Reserve Board proposes to modify the General section 
by:
     Revising question 1 to include (1) convictions of a crime, 
imprisoned, on probation, or on parole during the last 7 years, (2) 
adding the statement ``You must include felonies, firearms or 
explosives violations, military court-martials, misdemeanors, and any 
other matter that was resolved by a plea of nolo contendere (no 
contest)'', (3) omitting the reporting of minor traffic violations that 
resulted in a fine of $300 or less; any offense committed before your 
16th birthday; and to add Federal Youth Corrections Act or similar 
state laws to the list of expunged records.
     Modify question 2 to read ``Are you now under charges, on 
trial, or awaiting trial on criminal charges for any violation of law 
such as a misdemeanor or a felony?
    These modifications to the criminal background questions are being 
proposed to be consistent with questions asked of applicants for all 
federal government employment.

Research Assistant Candidate Survey of Interests (FR 28i)

    The Federal Reserve Board proposes to revise the FR 28i by (1) 
updating the list of software packages and statistical languages used 
by candidates, and (2) adding an ``Other'' section for RA candidates to 
write-in their research topics of interest. The information collected 
on the revised FR 28i would be used to better assess the qualifications 
and suitability of job candidates for RA positions.

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

    1. Report title: Compensation and Salary Surveys.
    Agency form number: FR 29a, b.
    OMB control number: 7100-0290.
    Frequency: FR 29a, annually; FR 29b, on occasion.
    Reporters: Employers considered competitors for Federal Reserve 
employees.
    Estimated annual reporting hours: FR 29a, 210 hours; FR 29b, 50 
hours.
    Estimated average hours per response: FR 29a, 6 hours; FR 29b, 1 
hour.
    Number of respondents: 45.
    General description of report: This information collection is 
authorized pursuant sections 10(4) and 11(1) of the Federal Reserve 
Act, (12 U.S.C. section 244 and 248(1)) and is voluntary. These 
statutory provisions grant the Federal Reserve Board independence to 
determine its employees' salaries and compensation. Individual 
respondent data are regarded as confidential under the Freedom of 
Information Act (FOIA) (5 U.S.C 552 (b)(4) and (6)). Any aggregate 
reports produced are not subject to FOIA exemptions.
    Abstract: The Federal Reserve along with other Financial 
Institutions Reforms, Recovery and Enforcement Act of 1989 (FIRREA) 
agencies \1\ conduct the FR 29a survey jointly. The FR 29b is collected 
by the Federal Reserve Board. The FR 29a, b collect information on 
salaries, employee compensation policies, and other employee programs 
from employers that are considered competitors of the Federal Reserve 
Board. The data from the surveys primarily are used to determine the 
appropriate salary structure and salary adjustments for Federal Reserve 
Board employees so that salary ranges are competitive with other 
organizations offering similar jobs.
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    \1\ For purposes of this proposal the FIRREA agencies consist 
of: The Federal Reserve Board, the Office of the Comptroller of the 
Currency, the Federal Deposit Insurance Corporation, the National 
Credit Union Administration, the Commodities Futures Trading 
Commission, the Farm Credit Administration, and the Securities and 
Exchange Commission.
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    2. Report title: Ongoing Intermittent Survey of Households.
    Agency form number: FR 3016.
    OMB control number: 7100-0150.
    Frequency: On Occasion.
    Reporters: Households and individuals.
    Estimated annual reporting hours: 633 hours.
    Estimated average hours per response: Division of Research & 
Statistics, 1.58

[[Page 43047]]

minutes; Division of Consumer & Community Affairs (DCCA), 3 minutes; 
Other divisions, 5 minutes; and Non-SRC surveys, 90 minutes.
    Number of respondents: 500.
    General description of report: This information collection is 
voluntary and is authorized by the Federal Reserve Act (12 U.S.C. Sec.  
225a, 263). No issue of confidentiality normally arises because names 
and any other characteristics that would permit personal identification 
of respondents are not reported to the Federal Reserve Board. However, 
exemption 6 of the Freedom of Information Act (5 U.S.C. Sec.  
552(b)(6)) would exempt this information from disclosure.
    Abstract: The Federal Reserve uses this voluntary survey to obtain 
household-based information specifically tailored to the Federal 
Reserve's policy, regulatory, and operational responsibilities. 
Currently, the University of Michigan's Survey Research Center (SRC) 
includes survey questions on behalf of the Federal Reserve in an 
addendum to their regular monthly Survey of Consumer Attitudes and 
Expectations. The SRC conducts the survey by telephone with a sample of 
500 households and asks questions of special interest to the Federal 
Reserve intermittently, as needed. The frequency and content of the 
questions depend on changing economic, regulatory, and legislative 
developments. The Federal Reserve primarily uses the survey to study 
consumer financial decisions, attitudes, and payment behavior.
    3. Report title: Recordkeeping Requirements Associated with the 
Real Estate Lending Standards Regulation for State Member Banks.
    Agency form number: Reg H-5.
    OMB control number: 7100-0261.
    Frequency: Aggregate report, quarterly; policy statement, annually.
    Reporters: State member banks.
    Estimated annual reporting hours: 17,000 hours.
    Estimated average hours per response: Aggregate report: 5 hours; 
Policy statement: 20 hours.
    Number of respondents: 850.
    General description of report: This information collection is 
mandatory pursuant to section 304 of the Federal Deposit Insurance 
Corporation Improvement Act of 1991 (FDICIA) (12 U.S.C. 1828(o)) which 
authorizes the Federal Reserve to require the recordkeeping 
requirements associated with the Board's Regulation H (12 CFR 208.51). 
Since the information is not collected by the Federal Reserve, no issue 
of confidentiality under the Freedom of Information Act (FOIA) arises. 
However, information gathered by the Federal Reserve during 
examinations of state member banks would be deemed exempt from 
disclosure under exemption 8 of FOIA. 5 U.S.C. Sec.  552(b)(8). In 
addition, exemptions 4 and 6 of FOIA, (5 U.S.C. Sec.  552(b)(4) and 
(b)(6)) also may apply to certain data (specifically, individual loans 
identified as in excess of supervisory loan-to-value limits) collected 
in response to these requirements if gathered by the Federal Reserve, 
depending on the particular circumstances. These additional exemptions 
relate to confidential commercial and financial information, and 
personal information, respectively. Applicability of these exemptions 
would have to be determined on a case-by-case basis.
    Abstract: State member banks must adopt and maintain a written real 
estate lending policy. In addition, banks must identify their loans in 
excess of the supervisory loan-to-value limits and report (at least 
quarterly) the aggregate amount of the loans to the bank's board of 
directors.

    Board of Governors of the Federal Reserve System, July 21, 2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-17412 Filed 7-23-14; 8:45 am]
BILLING CODE 6210-01-P