[Federal Register Volume 87, Number 127 (Tuesday, July 5, 2022)]
[Notices]
[Pages 39831-39832]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14217]


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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 Intermittent Survey of Businesses (FR 1374; OMB No. 7100-
0302).

DATES: Comments must be submitted on or before September 6, 2022.

ADDRESSES: You may submit comments, identified by FR 1374, 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: Federal Reserve Board of Governors, Attn: Ann E. 
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St 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 
M-4365A, 2001 C St NW, Washington, DC 20551, 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,

[[Page 39832]]

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

    Collection title: Intermittent Survey of Businesses.
    Collection identifier: FR 1374.
    OMB control number: 7100-0302.
    Frequency: Annual, and as needed.
    Respondents: Businesses, and as warranted by economic conditions, 
state and local governments.
    Estimated number of respondents: 1,500.
    Estimated average hours per response: 0.25.
    Estimated annual burden hours: 1,125.
    General description of collection: The FR 1374 survey data are used 
to gather information to enable the Federal Reserve System to carry out 
its policy and operational responsibilities. Under the guidance of the 
Board, Reserve Banks survey business contacts as economic developments 
warrant. Usually, these voluntary surveys are conducted by telephoning 
or emailing purchasing managers, economists, or other knowledgeable 
individuals at selected, relevant businesses. Reserve Banks may also 
use online survey tools to collect responses to the survey. The 
frequency and content of the questions, as well as the entities 
contacted, vary depending on developments in the economy. These surveys 
are conducted to provide Board members and Reserve Bank presidents 
real-time insights into economic conditions. The Board tailors these 
survey questions to match current concerns and interests, but they are 
not meant to supplant the more rigorous, existing economic reporting. 
The Board collects individual responses from the Reserve Banks and then 
distributes aggregate information to Board members and Reserve Bank 
presidents.
    Legal authorization and confidentiality: The FR 1374 is authorized 
by sections 2A and 12A of the Federal Reserve Act (FRA). 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.'' 
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.'' The Board and FOMC use the information 
obtained through the FR 1374 to discharge these responsibilities.
    Responding to surveys under the FR 1374 is voluntary. Individual 
respondents may request confidential treatment for information provided 
in response to a survey in accordance with the Board's Rules Regarding 
Availability of Information,\1\ and any such requests for confidential 
treatment will be reviewed on a case-by-case basis. Information may be 
kept confidential under exemption 4 of the Freedom of Information Act 
to the extent it is confidential commercial or financial information 
that is both customarily and actually treated as private.
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    \1\ 12 CFR 261.17.

    Board of Governors of the Federal Reserve System, June 29, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-14217 Filed 7-1-22; 8:45 am]
BILLING CODE 6210-01-P