[Federal Register Volume 83, Number 153 (Wednesday, August 8, 2018)]
[Notices]
[Page 39093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-16918]


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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 
Senior Financial Officer Survey (FR 2023; OMB No. 7100-0223).

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 Board 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: Senior Financial Officer Survey.
    Agency form number: FR 2023.
    OMB control number: 7100-0223.
    Frequency: Up to four times a year.
    Respondents: Domestically chartered large commercial banks.
    Estimated number of respondents: 80.
    Estimated average hours per response: 3 hours.
    Estimated annual burden hours: 960 hours.
    General description of report: The Board uses the surveys in this 
collection to gather qualitative and limited quantitative information 
about liability management, the provision of financial services, and 
the functioning of key financial markets. Responses are obtained from a 
senior officer at each participating institution usually through an 
electronic submission. Although a survey may not be collected in a 
given year, the Board may conduct up to four surveys per year when 
informational needs arise and cannot be met from existing data sources. 
The survey does not have a fixed set of questions; each survey consists 
of a limited number of questions directed at topics of timely interest.
    Legal authorization and confidentiality: The FR 2023 is a voluntary 
survey. Section 2A of the Federal Reserve Act (FRA) 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 (12 U.S.C. 225a). In addition, under 
section 12A of the FRA, the FOMC is required to implement regulations 
relating to the open market operations conducted by Federal Reserve 
Banks. Those transactions must be governed with a view to accommodating 
commerce and business and with regard to their bearing upon the general 
credit situation of the country (12 U.S.C. 263). The Board and the FOMC 
use the information obtained from the FR 2023 to help fulfill these 
obligations.
    The questions asked on each survey will vary, so the ability of the 
Board to maintain the confidentiality of information collected must be 
determined on a case by case basis. It is likely that much of the 
information collected would constitute confidential financial 
information obtained from a person and would thus be protected from 
disclosure under exemption 4 to the Freedom of Information Act (FOIA) 
(5 U.S.C. 552(b)(4)). Exemption 8 of the FOIA, which protects 
information related to examination, operating, or condition reports 
prepared for the use of an agency supervising financial institutions, 
may also occasionally apply (5 U.S.C. 552(b)(8)).
    Current actions: On May 15, 2018, the Board published a notice in 
the Federal Register (83 FR 22488) requesting public comment for 60 
days on the extension, without revision, of the Board's clearance for 
the Senior Financial Officer Survey. The comment period for this notice 
expired on July 16, 2018. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, August, 2, 
2018.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2018-16918 Filed 8-7-18; 8:45 am]
 BILLING CODE 6210-01-P