[Federal Register Volume 87, Number 176 (Tuesday, September 13, 2022)]
[Notices]
[Pages 56053-56054]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19781]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Payment Systems Surveys (OMB No. 7100-0332).

DATES: Comments must be submitted on or before November 14, 2022.

ADDRESSES: You may submit comments, identified by FR 3054, 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, 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, [email protected], (202) 
452-3884.

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, With 
Revision, the Following Information Collection

    Collection title: Payment Systems Surveys.
    Collection identifier: FR 3054.
    OMB control number: 7100-0332.
    Frequency: FR 3054a, five times per year; FR 3054b, annually; FR 
3054c, semi-annually; FR 3054d, five times per year; and FR 3054e, ten 
times per year.
    Respondents: The FR 3054 panel comprises financial institutions 
(including depository institutions), law enforcement, nonfinancial 
businesses (retailers, banknote equipment manufacturers, or global 
wholesale bank note dealers), and individuals within the general 
public.
    Estimated number of respondents: FR 3054a, 4,000; FR 3054b, 500; FR 
3054c, 25; FR 3054d, 250; and FR 3054e, 250.
    Estimated average hours per response: FR 3054a, 0.75; FR 3054b, 
0.50; FR 3054c, 30; FR 3054d, 2.5; and FR 3054e, 0.50.
    Estimated annual burden hours: FR 3054a, 15,000; FR 3054b, 250; FR 
3054c, 1,500; FR 3054d, 3,125; and FR 3054e, 1,250.
    General description of collection: The Payment Systems Surveys are 
used to

[[Page 56054]]

obtain information specifically tailored to the Federal Reserve's 
operational and fiscal agency responsibilities. The Payment Systems 
Surveys family of surveys is currently comprised of the following: Ad 
Hoc Payment Systems Surveys (FR 3054a), Currency Quality Sampling 
Survey (FR 3054b), Currency Quality Survey (FR 3054c), Currency 
Functionality and Perception Survey (FR 3054d), and Currency Education 
Usability Survey (FR 3045e).
    Proposed revisions: The Board proposes to increase the estimated 
respondents for the FR 3054b from 300 to 500, increase the estimated 
frequency for the FR 3054d from four times a year to five times a year, 
and increase the estimated frequency from five times a year to ten 
times a year and decrease the estimated number of respondents from 500 
to 250 for the FR 3054e. The increase in the frequency of surveys 
allows the Federal Reserve System flexibility to respond to diverse 
needs for data by surveying groups of respondents multiple times 
throughout a year. Increasing the number of estimated respondents of 
the FR 3054b will help ensure statistical significance of the sample 
pool and decreasing the estimated number of respondents while 
increasing the frequency of the FR 3054e will facilitate more survey 
agility. Additionally, the FR 3054c has not changed since 2018 and no 
changes are anticipated during the current clearance cycle. The FR 
3054c is therefore being transitioned from an ad hoc to an established 
collection.
    Legal authorization and confidentiality: Section 11(d) \1\ of the 
Federal Reserve Act (``FRA'') authorizes the Board to ``supervise and 
regulate through the Secretary of the Treasury the issue and retirement 
of Federal reserve notes, except for the cancellation and destruction, 
and accounting with respect to such cancellation and destruction, of 
notes unfit for circulation, and to prescribe rules and regulations 
under which such notes may be delivered by the Secretary of the 
Treasury to the Federal reserve agents applying therefor.'' Section 11A 
\2\ of the FRA requires the Board to put into effect a schedule of fees 
for Federal Reserve bank services to depository institutions based on 
specified principles, including that such fees be based on the direct 
and indirect costs actually incurred in providing these services. 
Section 13 \3\ of the FRA authorizes, among other things, Federal 
Reserve Banks to provide a variety of payments services. Section 16 \4\ 
of the FRA authorizes the Board to take a variety of actions related to 
the issuance and management of Federal Reserve notes. 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, 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), 11A, 13, and 16 of the FRA. 
The FR 3054 is voluntary.
---------------------------------------------------------------------------

    \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, 420, 422.
---------------------------------------------------------------------------

    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. To the extent a respondent 
submits nonpublic commercial or financial information, which is both 
customarily and actually treated as private by the respondent, the 
respondent may request confidential treatment pursuant to exemption 4 
of the Freedom of Information Act (FOIA).\5\ In circumstances where the 
Board collects information related to individuals, exemption 6 to the 
FOIA would 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 
exemption 8 to the FOIA.
---------------------------------------------------------------------------

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

    Consultation outside the agency: The Board may consult with, 
collaborate with, or jointly conduct surveys with other agencies within 
the U.S. Currency Program to include the System banks, the United 
States Secret Service, Department of Treasury, and Treasury's Bureau of 
Engraving and Printing.

    Board of Governors of the Federal Reserve System, September 8, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-19781 Filed 9-12-22; 8:45 am]
BILLING CODE 6210-01-P