[Federal Register Volume 82, Number 130 (Monday, July 10, 2017)]
[Notices]
[Pages 31779-31780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-14401]


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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: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, with revision, the 
voluntary Survey of Terms of Lending (STL; FR 2028; OMB No. 7100-0061). 
The revisions are effective as follows. The final data collection for 
the FR 2028A would be for the May 2017 survey week, and the first data 
collection for the FR 2028D would be in February 2018 for the December 
31, 2017, as of date.
    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. 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 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.
    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.
    Final approval under OMB delegated authority of the extension for 
three years, with revision, of the following report:
    Report title: Survey of Small Business and Farm Lending.
    Agency form number: FR 2028B, FR 2028D, and FR 2028S.
    OMB control number: 7100-0061.
    Effective Date: The final data collection for the FR 2028A would be 
for the May 2017 survey week, and the first data collection for the FR 
2028D would be in February 2018 for the December 31, 2017, as of date.
    Frequency: Quarterly.
    Respondents: Commercial banks.
    Estimated number of respondents: FR 2028B--250; FR 2028D--398; and 
FR 2028S--250.
    Estimated average hours per response: FR 2028B--1.4 hours; FR 
2028D--1.5 hours; FR 2028D (First Time only)--1.5 hours; and FR 2028S--
0.1 hours.
    Estimated annual burden hours: 4,485 hours.
    General description of report: The STL collects unique information 
concerning price and certain nonprice terms of loans made to businesses 
and farmers during the first full business week of the mid-month of 
each quarter (February, May, August, and November). The FR 2028A and FR 
2028B collect detailed data on individual loans made during the survey 
week, and the FR 2028S collects the prime interest rate for each day of 
the survey from both FR 2028A and FR 2028B respondents. From these 
sample STL data, estimates of the terms of business loans and farm 
loans extended during the reporting week are constructed. The aggregate 
estimates for

[[Page 31780]]

business loans are published in the quarterly E.2 statistical release, 
Survey of Terms of Business Lending, and aggregate estimates for farm 
loans are published in the E.15 statistical release, Agricultural 
Finance Databook.
    Legal authorization and confidentiality: The Board's Legal Division 
has determined that these surveys are authorized by section 11(a)(2) of 
the Federal Reserve Act (12 U.S.C. 248(a)(2)) which authorizes the 
Board to require any depository institution to make such reports of its 
assets and liabilities as the Board may determine to be necessary or 
desirable to enable the Board to discharge its responsibility to 
monitor and control monetary and credit aggregates. The reports are 
voluntary. Individual responses reported on the FR 2028A, FR 2028B, FR 
2028D, and FR 2028S are regarded as confidential under the Freedom of 
Information Act (5 U.S.C. 552(b)(4)).
    Current actions: On April 21, 2017, the Board published a notice in 
the Federal Register (82 FR 18759) requesting public comment for 60 
days on the extension, with revision, of the FR 2028. The Federal 
Reserve proposed to (1) discontinue the FR 2028A, (2) create a new 
Small Business Lending Survey (FR 2028D) that would provide focused and 
enhanced information on small business lending including rates, terms, 
credit availability, and reasons for their changes (in contrast to the 
individual loan data collected on the FR 2028A, the FR 2028D would 
collect quarterly average quantitative data on terms of small business 
loans and qualitative information on changes and the reasons for 
changes in the terms of lending), and (3) rename the STL the Survey of 
Small Business and Farm Lending (SSBFL) to more accurately describe the 
data collection. No changes were proposed to the FR 2028B and FR 2028S. 
The comment period for this notice expired on June 20, 2017. The Board 
did not receive any comments. The revisions will be implemented as 
proposed.

    Board of Governors of the Federal Reserve System, July 5, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-14401 Filed 7-7-17; 8:45 am]
BILLING CODE 6210-01-P