[Federal Register Volume 87, Number 120 (Thursday, June 23, 2022)]
[Notices]
[Pages 37513-37514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13388]


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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, without revision, the 
Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 
2034; OMB No. 7100-0325).

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 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.

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

[[Page 37514]]

inventory of currently approved collections of information. The OMB 
inventory, as well as copies of the PRA Submission, supporting 
statements, and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also 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.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Collection title: Senior Credit Officer Opinion Survey on Dealer 
Financing Terms.
    Collection identifier: 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.
    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 transactions'' 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. To the extent 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 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).
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    Current actions: On December 3, 2021, the Board published a notice 
in the Federal Register (86 FR 68666) requesting public comment for 60 
days on the extension, without revision, of the Senior Credit Officer 
Opinion Survey on Dealer Financing. The comment period for this notice 
expired on February 1, 2022. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, June 16, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-13388 Filed 6-22-22; 8:45 am]
BILLING CODE 6210-01-P