[Federal Register Volume 79, Number 190 (Wednesday, October 1, 2014)]
[Notices]
[Pages 59263-59264]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-23367]


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FEDERAL RESERVE SYSTEM


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

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: 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 Paperwork Reduction Act Submission, 
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 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.
    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.
    Final approval under OMB delegated authority of 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.
    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. 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. 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: On July 24, 2014, the Federal Reserve published a 
notice in the Federal Register (79 FR 43045) requesting public comment 
for 60 days on the extension, with revision, of the FR 28, FR 28i, and 
FR 28s. The comment period for this notice expired on September 22, 
2014. The Federal Reserve did not receive any comments. The revisions 
will be implemented as proposed.
    Final approval under OMB delegated authority of 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 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. 552(b)(6)) 
would exempt this information from disclosure.

[[Page 59264]]

    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. 552(b)(8). In addition, 
exemptions 4 and 6 of FOIA, (5 U.S.C. 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.
    Current Actions: On July 24, 2014, the Federal Reserve published a 
notice in the Federal Register (79 FR 43045) requesting public comment 
for 60 days on the extension, without revision, of the FR 29a, b, FR 
3016, and Reg H-5. The comment period for this notice expired on 
September 22, 2014. The Federal Reserve did not receive any comments.

    Board of Governors of the Federal Reserve System, September 26, 
2014.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2014-23367 Filed 9-30-14; 8:45 am]
BILLING CODE 6210-01-P