[Federal Register Volume 86, Number 230 (Friday, December 3, 2021)]
[Notices]
[Pages 68666-68667]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-26320]


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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 February 1, 2022.

ADDRESSES: You may submit comments, identified by FR 2034, 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 or FR 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 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: Senior Credit Officer Opinion Survey on Dealer 
Financing Terms.
    Agency form number: FR 2034.
    OMB control number: 7100-0325.
    Frequency: Quarterly.
    Respondents: The current reporting panel consists of U.S. banking 
institutions and U.S. branches and agencies of foreign banks, the 
majority of which are affiliated with a Primary Government Securities 
Dealer.\1\ Other types of respondents, such as other depository 
institutions, bank holding companies, or other financial entities, may 
be surveyed when appropriate. Respondents may also include institutions 
that, while not primary dealers, play a significant role in over-the-
counter derivatives or securities financing activities.
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    \1\ A list of the current Primary Dealers in Government 
Securities is available at https://www.newyorkfed.org/markets/primarydealers.html.
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    Estimated number of respondents: 25.
    Estimated average hours per response: 5.
    Estimated annual burden hours: 500.

[[Page 68667]]

    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. The FR 2034 survey is conducted quarterly, along with 
the Senior Loan Officer Opinion Survey on Bank Lending Practices (FR 
2018; OMB No. 7100-0058). The survey contains 79 core questions divided 
into three broad sections, as well as additional questions on topics of 
timely interest.
    Legal authorization and confidentiality: The FR 2034 is authorized 
by sections 2A and 12A of the Federal Reserve Act (FRA).\2\ Section 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.\3\ 
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.\4\ The Board and FOMC use the information obtained through the 
FR 2034 to discharge these responsibilities.
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    \2\ 12 U.S.C. 1828(c). The Board also has the authority to 
require reports from state member banks (12 U.S.C. 248(a) and 324).
    \3\ 12 U.S.C. 225a.
    \4\ 12 U.S.C. 263.
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    Responding to the FR 2034 is voluntary. The information contained 
in responses to the core questions of the FR 2034 is nonpublic 
commercial or financial information, which is both customarily and 
actually treated as private by the respondent. The Board therefore may 
keep such information confidential pursuant to exemption 4 of the 
Freedom of Information Act (FOIA).\5\ Supplemental questions asked on 
each survey may vary, and the Board's ability to keep confidential 
responses to such questions must therefore be determined on a case-by-
case basis. Responses to supplemental questions may contain nonpublic 
commercial information that may be kept confidential by the Board 
pursuant to exemption 4 of the FOIA. Some such responses may also 
contain information contained in or related to an examination of a 
financial institution, which may be kept confidential under exemption 8 
of the FOIA.\6\
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    \5\ 5 U.S.C. 552(b)(4).
    \6\ 5 U.S.C. 552(b)(8).

    Board of Governors of the Federal Reserve System, November 29, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-26320 Filed 12-2-21; 8:45 am]
BILLING CODE 6210-01-P