[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Page 22487]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10267]


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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, without revision, the 
Quarterly Report of Interest Rates on Selected Direct Consumer 
Installment Loans and the Quarterly Report of Credit Card Plans (FR 
2835; FR 2835a; OMB No. 7100-0085).

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.

SUPPLEMENTARY INFORMATION: 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.
    Final approval under OMB delegated authority of the extension for 
three years, without revision, of the following report:
    Report title: Quarterly Report of Interest Rates on Selected Direct 
Consumer Installment Loans and Quarterly Report of Credit Card Plans.
    Agency form number: FR 2835; FR 2835a.
    OMB control number: 7100-0085.
    Frequency: Quarterly.
    Respondents: Commercial banks.
    Estimated number of respondents: FR 2835: 150; FR 2835a: 50.
    Estimated average hours per response: FR 2835: .29 hours; FR 2835a: 
.50 hours.
    Estimated annual burden hours: FR 2835: 176 hours; FR 2835a: 100 
hours.
    General description of report: The FR 2835 collects information 
from a sample of commercial banks on interest rates charged on loans 
for new vehicles and loans for other consumer goods and personal 
expenses. The data are used for the analysis of household financial 
conditions. The FR 2835a collects information on two measures of credit 
card interest rates from a sample of commercial banks with $1 billion 
or more in credit card receivables and a representative group of 
smaller issuers. The data are used to analyze the credit card market 
and draw implications for the household sector.
    Legal authorization and confidentiality: The Board is authorized to 
collect the information on the FR 2835 and FR 2835a by sections 2A and 
11 of the Federal Reserve Act (``FRA''). Section 2A of the FRA (12 
U.S.C. 225a) requires that the Board and the Federal Open Market 
Committee (``FOMC'') maintain long-run growth of the monetary and 
credit aggregates commensurate with the economy's long run potential to 
increase production, so as to promote effectively the goals of maximum 
employment, stable prices, and moderate long-term interest rates. 
Section 11 of the FRA (12 U.S.C. 248(a)) authorizes the Board to 
require reports from each member bank as it may deem necessary and 
authorizes the Board to prescribe reports of liabilities and assets 
from insured depository institutions to enable the Board to discharge 
its responsibility to monitor and control monetary and credit 
aggregates. The information collected on the FR 2835 and FR 2835a 
assist the Board and the FOMC with fulfilling these obligations. Both 
the 2835 and 2835a are voluntary. With respect to the FR 2835, only the 
narrative information to explain large fluctuations in reported data is 
considered confidential. With respect to the 2835a, the individual 
respondent data is considered confidential. Such treatment is 
appropriate because the data is not publicly available and the public 
release of this data is likely to impair the Board's ability to collect 
necessary information in the future and cause substantial harm to the 
competitive position of the respondent. Thus, this information may be 
kept confidential under exemption (b)(4) of the Freedom of Information 
Act, which exempts from disclosure ``trade secrets and commercial or 
financial information obtained from a person and privileged or 
confidential.'' (5 U.S.C. 552(b)(4)).
    Current actions: On February 21, 2018, the Board published a notice 
in the Federal Register (83 FR 7475) requesting public comment for 60 
days on the extension, without revision, of the Quarterly Report of 
Interest Rates on Selected Direct Consumer Installment Loans and the 
Quarterly Report of Credit Card Plans. The comment period for this 
notice expired on April 23, 2018. The Board did not receive any 
comments. The information collection will be extended as proposed.

    Board of Governors of the Federal Reserve System, May 9, 2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-10267 Filed 5-14-18; 8:45 am]
 BILLING CODE 6210-01-P