[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