[Federal Register Volume 86, Number 211 (Thursday, November 4, 2021)]
[Notices]
[Pages 60819-60821]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23803]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

[[Page 60820]]

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, FR 2248-Domestic Finance Company Report of Consolidated 
Assets and Liabilities.

DATES: Comments must be submitted on or before January 3, 2022.

ADDRESSES: You may submit comments, identified by FR 2248, 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 7100-0005 or FR-2248 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 confidential 
business information, identifying information, 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 for the Federal 
Reserve Board, 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: 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 Paperwork Reduction Act (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.
    During the comment period for this proposal, a copy of the proposed 
PRA OMB submission, including the draft reporting form and 
instructions, supporting statement, and other documentation, will 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 above. Final 
versions of these documents will be made available at https://www.reginfo.gov/public/do/PRAMain, if approved.

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: Domestic Finance Company Report of Consolidated 
Assets and Liabilities.
    Agency form number: FR 2248.
    OMB control number: 7100-0005.
    Frequency: Monthly, quarterly, as needed.
    Respondents: Finance companies.\1\
---------------------------------------------------------------------------

    \1\ Finance companies include companies in which 50 percent or 
more of assets are held in any of the following types of loan or 
lease assets: (1) Liens on real estate, defined as outstanding 
balances on loans or leases, for any purpose, secured by liens on 
real estate; (2) loans and leases not secured by real estate, such 
as business loans and leases, defined as outstanding balances on 
loans and on leases for commercial and industrial purposes to sole 
proprietorships, partnerships, corporations, and other business 
enterprises; or consumer loans and leases defined as outstanding 
balances on loans and on leases for household, family, and other 
personal expenditures.
---------------------------------------------------------------------------

    Estimated number of respondents: Monthly, 150; Quarterly, 150; 
Addendum; 150.
    Estimated average minutes per response: Monthly, 20; Quarterly, 30; 
Addendum, 10.
    Estimated annual burden hours: Monthly, 400; Quarterly, 300; 
Addendum; 50.
    General description of report: The FR 2248 is collected monthly as 
of the last calendar day of the month from a stratified sample \2\ of 
finance companies. Each monthly report collects balance sheet data on 
major categories of consumer and business credit receivables and on 
major short-term liabilities. For quarter-end months (March, June, 
September, and December), additional asset and liability items are 
collected to provide a full balance sheet. A supplemental section 
collects data on securitized assets. Board staff may ask either 
quantitative or qualitative questions through the use of a special 
addendum section no more than twice per year. The data are used to 
construct universe estimates of finance company holdings, which are 
published in the monthly statistical releases Finance Companies (G.20) 
and Consumer Credit (G.19) and in the quarterly statistical release 
Financial Accounts of the United States (Z.1).\3\
---------------------------------------------------------------------------

    \2\ Potential universe of respondents is identified by the 
quinquennial Census of Finance Companies (FR 3033p) and Survey of 
Finance Companies (FR 3033s) (OMB No. 7100-0277). More details can 
be found in the OMB supporting statement.
    \3\ See https://www.federalreserve.gov/econresdata/statisticsdata.htm.
---------------------------------------------------------------------------

    Legal authorization and confidentiality: The FR 2248 is authorized 
by sections 2A and 12A of the Federal Reserve Act (FRA). Section

[[Page 60821]]

2A of the 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.\4\ 
Section 12A of the FRA further requires the FOMC to implement 
regulations relating to the open market operations conducted by Federal 
Reserve Banks with a view to accommodating commerce and business and 
with regard to their bearing upon the general credit situation of the 
country.\5\ The Board and FOMC use the information obtained through the 
FR 2248 to discharge these responsibilities. The FR 2248 is voluntary.
---------------------------------------------------------------------------

    \4\ 12 U.S.C. 225a.
    \5\ 12 U.S.C. 263.
---------------------------------------------------------------------------

    Although the Board releases aggregate data derived from the FR 2248 
in the monthly G.20 and G.19 statistical releases, and in the quarterly 
Z.1 statistical release, individual finance company information 
provided by each respondent is generally treated as confidential. 
Information collected on the FR 2248 is likely to constitute nonpublic 
commercial or financial information, which is both customarily and 
actually treated as private by the respondent. Accordingly, such 
information may be kept confidential by the Board pursuant to exemption 
4 of the Freedom of Information Act.\6\ If it should be determined that 
any information collected on the FR 2248 must be released, respondents 
would be notified.
---------------------------------------------------------------------------

    \6\ 5 U.S.C. 552(b)(4).

    Board of Governors of the Federal Reserve System, October 27, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-23803 Filed 11-3-21; 8:45 am]
BILLING CODE 6210-01-P