[Federal Register Volume 84, Number 74 (Wednesday, April 17, 2019)]
[Notices]
[Pages 16014-16015]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-07663]


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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 Senior Credit Officer Opinion Survey on Dealer Financing 
Terms (FR 2034; OMB No. 7100-0325).

DATES: Comments must be submitted on or before June 17, 2019.

ADDRESSES: You may submit comments, identified by FR 2034, by any of 
the following methods:
     Agency Website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     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 website 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 NW (between 18th and 19th Streets NW), Washington, 
DC 20006 between 9:00 a.m. and 5:00 p.m. on weekdays. For security 
reasons, the Board requires that visitors make an appointment to 
inspect comments. You may do so by calling (202) 452-3684. Upon 
arrival, visitors will be required to present valid government-issued 
photo identification and to submit to security screening in order to 
inspect and photocopy comments. 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, if approved. These documents will also be made available 
on the Board's public website 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: On June 15, 1984, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve 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.

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 Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board'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,

[[Page 16015]]

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 Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Senior Credit Officer Opinion Survey on Dealer 
Financing Terms.
    Agency form number: FR 2034.
    OMB control number: 7100-0325.
    Frequency: Quarterly.
    Respondents: U.S. financial institutions and U.S. branches and 
agencies of foreign banks.
    Estimated number of respondents: 25.
    Estimated average hours per response: 5.
    Estimated annual burden hours: 500.
    General description of report: This survey collects qualitative and 
limited quantitative information from senior credit officers at 
responding financial institutions on (1) stringency of credit terms, 
(2) credit availability and demand across the entire range of 
securities financing and over-the-counter derivatives transactions, and 
(3) the evolution of market conditions and conventions applicable to 
such activities. Given the Board's interest in financial stability, the 
information this survey collects is critical to the monitoring of 
credit markets and capital market activity. Information from the survey 
is also considered by the Federal Open Market Committee (FOMC) as it 
sets monetary policy. Aggregate survey results are made available to 
the public on the Board's website.\1\ In addition, selected aggregate 
survey results may be discussed in Governors' speeches and may be 
published in Federal Reserve Bulletin articles and in the semi-annual 
Monetary Policy Report to the Congress.
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    \1\ See www.federalreserve.gov/econresdata/releases/scoos.htm.
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    Legal authorization and confidentiality: The FR 2034 is authorized 
pursuant to sections 2A and 12A of the Federal Reserve Act (``FRA''). 
Section 2A of the FRA requires that the Board and the 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). 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 2034 to help fulfill these 
obligations. The FR 2034 is voluntary. Information collected on the FR 
2034 is granted confidential treatment under exemption (b)(4) of the 
Freedom of Information Act, 5 U.S.C. 552(b)(4), which protects from 
disclosure ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential.''

    Board of Governors of the Federal Reserve System, April 12, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-07663 Filed 4-16-19; 8:45 am]
 BILLING CODE 6210-01-P