[Federal Register Volume 82, Number 124 (Thursday, June 29, 2017)]
[Notices]
[Pages 29564-29565]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13641]



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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the voluntary Compensation and Salary Surveys (FR 29a, FR 
29b; OMB No. 7100-0290).
    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board authority under the Paperwork Reduction Act 
(PRA) to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. In exercising this delegated authority, the Board is directed to 
take every reasonable step to solicit comment. In determining whether 
to approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

DATES: Comments must be submitted on or before August 28, 2017.

ADDRESSES: You may submit comments, identified by FR 29a or FR 29b, 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: Ann E. Misback, 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 
3515, 1801 K Street (between 18th and 19th Streets NW.) Washington, DC 
20006 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 Clearance Officer--Nuha Elmaghrabi--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 Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Federal 
Reserve should modify the proposed revisions prior to giving final 
approval.

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

    Report title: Compensation and Salary Surveys.
    Agency form number: FR 29a, FR 29b.
    OMB control number: 7100-0290.
    Frequency: FR 29a, annually; FR 29b, on occasion.
    Respondents: Employers considered competitors for Federal Reserve 
Board (Board) employees.
    Estimated number of respondents: FR 29a, 35; FR 29b, 10.
    Estimated average hours per response: FR 29a, 6 hours; FR 29b, 1 
hour.
    Estimated annual burden hours: FR 29a, 210 hours; FR 29b, 50 hours.
    General description of report: The FR 29a,b collect information on 
salaries, employee compensation policies, and other employee programs 
from employers that are considered competitors of the Board. The data 
from the surveys are primarily used to determine the appropriate salary 
structure and salary adjustments for Board employees so that salary 
ranges are competitive with other organizations offering similar jobs. 
The Board 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 Board only.
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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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    Legal authorization and confidentiality: The Board's Legal Division 
has determined that the FR 29a and FR29b surveys are voluntary and 
authorized by sections 10(4) and 11(1) of the Federal Reserve Act (12 
U.S.C. 244 and 248(1)), which authorize the Board to determine 
employees' compensation. The FR 29a survey is completed by an outside 
consultant that submits to the Board a report of the survey containing 
only aggregate data. Because the Board does not collect or have access 
to the individual respondent data, no confidentiality issue arises with 
respect to the individual responses to the FR 29a. The Board does not 
consider the report containing aggregate data to be confidential. The 
FR 29b consists of ad hoc surveys conducted by the Board during the 
year to collect information on specific salary and non-salary matters 
that affect Board employees. The ability of the Board to maintain the

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confidentiality of information provided by respondents to the FR 29b 
surveys will have to be determined on a case by case basis depending on 
the data collected under a particular survey. Some of the information 
collected on the surveys may be protected from Freedom of Information 
Act (FOIA) disclosure by FOIA exemptions 4 and 6. (5 U.S.C. 552 (b)(4) 
and (6)). Exemption 4 protects from disclosure trade secrets and 
commercial or financial information, while Exemption 6 protects 
information ``the disclosure of which would constitute a clearly 
unwarranted invasion of personal privacy.''
    Consultation outside the agency: Towers Watson and the Board work 
together to review and update the FR 29a survey instrument.

    Board of Governors of the Federal Reserve System, June 26, 2017.
Ann E. Misback
Secretary of the Board.
[FR Doc. 2017-13641 Filed 6-28-17; 8:45 am]
BILLING CODE 6210-01-P