[Federal Register Volume 84, Number 187 (Thursday, September 26, 2019)]
[Notices]
[Pages 50844-50845]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-20938]
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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, with revision, the
Payments Systems Surveys (FR 3054; OMB No. 7100-0332). The revisions
are applicable immediately.
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. 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.
A copy of the PRA OMB submission, including the reporting form and
instructions, supporting statement, and other documentation will be
placed into OMB's public docket files. These documents also are
available on the Federal Reserve 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 above.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information 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 PRA Submission, supporting
statements, and approved collection of information instrument(s) are
placed into OMB's public docket files.
[[Page 50845]]
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, With Revision, of the Following Information Collection
Report title: Payments Systems Surveys.
Agency form number: FR 3054.
OMB control number: OMB No. 7100-0332.
Effective Date: Immediately.
Frequency: FR 3054a, five times per year; FR 3054b, annually; FR
3054c, semi-annually; FR 3054d, quarterly; and FR 3054e, five times per
year.
Respondents: Financial institutions, including depository
institutions, individuals, law enforcement, and nonfinancial businesses
(banknote equipment manufacturers, or global wholesale bank note
dealers).
Estimated number of respondents: FR 3054a, 4,000 respondents; FR
3054b, 300 respondents; FR 3054c, 25 respondents; FR 3054d, 250
respondents; and FR 3054e, 500 respondents.
Estimated average hours per response: FR 3054a, 0.75 hours; FR
3054b, 0.50 hours; FR 3054c, 30 hours; FR 3054d, 2.5 hours; and FR
3054e, 0.50 hours.
Estimated annual burden hours: FR 3054a, 15,000 hours; FR 3054b,
150 hours; FR 3054c, 1,500 hours; FR 3054d, 2,500 hours; and FR 3054e,
1,250 hours.
General description of report: The Payments Systems Surveys are
used to obtain information specifically tailored to the Federal
Reserve's operational and fiscal agency responsibilities.
Legal authorization and confidentiality: The information obtained
from the FR 3054 may be used in support of the Board's role in
overseeing the Federal Reserve Banks' provision of financial services
to depository institutions; developing policies and regulations to
foster the efficiency and integrity of the U.S. payment system; working
with other central banks and international organizations to improve the
payment system more broadly; conducting research on payments issues;
and working with other federal agencies on currency design and quality
issues and to educate the global public on the security features of
Federal Reserve notes. Therefore, the FR 3054 is authorized pursuant to
the Board's authority under Sections 11(d),\1\ 11A,\2\ 13,\3\ and 16
\4\ of the Federal Reserve Act. The FR 3054 is voluntary.
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\1\ 12 U.S.C. 248(d).
\2\ 12 U.S.C. 248a.
\3\ 12 U.S.C. 342.
\4\ 12 U.S.C. 411, 412, 413, 414, 415, 416, 417, 421.
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The questions asked on each survey would vary, so the ability of
the Board to maintain the confidentiality of information collected
would be determined on a case-by-case basis. It is possible that the
information collected would constitute confidential commercial or
financial information, which may be kept confidential under exemption 4
of the Freedom of Information Act (``FOIA'').\5\ In circumstances where
the Board collects information related to individuals, FOIA exemption 6
may protect information ``the disclosure of which would constitute a
clearly unwarranted invasion of personal privacy.'' \6\ To the extent
the information collected relates to examination, operating, or
condition reports prepared for the use of an agency supervising
financial institutions, such information may be kept confidential under
FOIA exemption 8.\7\
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\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(6).
\7\ 5 U.S.C. 552(b)(8).
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Current actions: On June 21, 2019, the Board published a notice in
the Federal Register (84 FR 29203) requesting public comment for 60
days on the extension, with revision, of the Payments Systems Surveys.
The Board proposed to increase the frequency of the Ad Hoc Payment
Systems Survey (FR 3054a) up to five times per year in order to meet
the changing needs of the U.S. currency program. This amendment
reflects an increased frequency of data collection on a temporary
basis. The increase in frequency of surveys will allow the Federal
Reserve System flexibility to respond to diverse needs for data by
surveying smaller groups of respondents multiple times throughout a
year. Additionally, the Board proposed to revise the number of
respondents from 20,000 to 4,000. The Board also proposed to implement
a Currency Education Usability Survey (FR 3054e) to be conducted
through the Board or a private firm up to five times per year to
collect information on the effectiveness and usability of digital
currency education tools. The comment period for this notice expired on
August 20, 2019. The Board did not receive any comments. The revisions
will be implemented as proposed.
Board of Governors of the Federal Reserve System, September 23,
2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-20938 Filed 9-25-19; 8:45 am]
BILLING CODE 6210-01-P