[Federal Register Volume 84, Number 175 (Tuesday, September 10, 2019)]
[Notices]
[Pages 47511-47512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19490]


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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 Payments Research Survey (FR 3067; OMB No. 7100-0355).

DATES: Comments must be submitted on or before November 12, 2019.

ADDRESSES: You may submit comments, identified by FR 3067, by any of 
the following methods:
     Agency Website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the 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 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any identifying or 
contact information. Public comments may also be viewed electronically 
or in paper in Room 146, 1709 New York Avenue 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 
Office of Management and Budget (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 Paperwork Reduction Act 
(PRA) OMB submission, including the 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 https://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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information 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, 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: Payments Research Survey.
    Agency form number: FR 3067.
    OMB control number: 7100-0355.
    Frequency: As needed.
    Respondents: Private sector, individuals or households, and state 
and local governments.
    Estimated number of respondents: Private sector: 4,300; individuals 
or households: 5,500; state and local governments: 200.
    Estimated average hours per response: Private sector: 1.5; 
individuals or households: 1.5; state and local governments: 1.5.
    Estimated annual burden hours: Private sector: 12,900; individuals 
or households: 16,500; state and local governments: 600; total: 30,000.
    General description of report: The Board uses this collection to 
obtain information, as needed, on specific and

[[Page 47512]]

time sensitive issues related to payments research. Respondents may 
comprise depository institutions, financial and nonfinancial 
businesses, for profit and nonprofit enterprises, federal, state, and 
local governments, individual consumers, or households. The Board may 
conduct various surveys under this collection, as needed. The frequency 
and content of the questions depend on changing economic, regulatory, 
supervisory, or legislative developments.
    Legal authorization and confidentiality: The legal framework for 
the collection of checks and other items by Reserve Banks and for funds 
transfers through Fedwire is provided by section 13 of the Federal 
Reserve Act (FRA),\1\ section 16 of the FRA,\2\ the Expedited Funds 
Availability Act,\3\ and the Check Clearing for the 21st Century 
Act.\4\ Within the Federal Reserve System, the Reserve Banks are 
generally the entities engaged in the payments system. The Board has 
broad authority to supervise the actions of Reserve Banks, provided by 
section 11 of the FRA.\5\ To successfully maintain the operation of the 
payments system, the Board must collect payments related data and 
information related to the performance of Reserve Banks involved in the 
payments system. The Federal Reserve System has a long history of 
conducting surveys, including surveys of supervised institutions and of 
outside parties. Accordingly, FR 3067 is authorized by sections 11, 13, 
and 16 of the FRA, as well as the Expedited Funds Availability Act and 
the Check Clearing for the 21st Century Act. Depending on the survey 
respondent, the information collection may also be authorized under a 
specific statute. These statutes include:
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    \1\ 12 U.S.C. 342.
    \2\ 12 U.S.C. 360.
    \3\ 12 U.S.C. 4001-4010.
    \4\ 12 U.S.C. 5001-5018.
    \5\ 12 U.S.C. 248.
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     Section 809 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act,\6\
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    \6\ 12 U.S.C. 5468.
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     Section 7 of the Bank Service Company Act,\7\ and
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    \7\ 12 U.S.C. 1867.
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     Section 920 of the Electronic Fund Transfer Act.\8\
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    \8\ 15 U.S.C. 1693o-2.
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    Survey submissions are voluntary.
    While unlikely, individual respondents may request that information 
submitted to the Board through a survey under FR 3067 be kept 
confidential. If a respondent requests confidential treatment, the 
Board will determine whether the information is entitled to 
confidential treatment on a case-by-case basis. Information collected 
through these surveys may be kept confidential under exemption 4 for 
the Freedom of Information Act, which protects privileged or 
confidential commercial or financial information,\9\ or under FOIA 
exemption 6, which covers personal information, the disclosure of which 
would constitute an unwarranted invasion of privacy.\10\
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    \9\ 5 U.S.C. 552(b)(4).
    \10\ 5 U.S.C. 552(b)(6).

    Board of Governors of the Federal Reserve System, September 4, 
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-19490 Filed 9-9-19; 8:45 am]
 BILLING CODE 6210-01-P