[Federal Register Volume 88, Number 218 (Tuesday, November 14, 2023)]
[Notices]
[Pages 78025-78026]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-25094]


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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 Quarterly Report of Interest Rates on Selected Direct 
Consumer Installment Loans and the Quarterly Report of Credit Card 
Plans (FR 2835 and FR 2835a; OMB No. 7100-0085).

DATES: Comments must be submitted on or before January 16, 2024.

ADDRESSES: You may submit comments, identified by FR 2835 and FR 2835a, 
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, except for Federal holidays. 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 (which contains more detail about 
the information collection and burden estimates than this notice), and 
other documentation, will be made available on the Board's public 
website at https://www.federalreserve.gov/apps/reportingforms/home/review 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: Quarterly Report of Interest Rates on Selected 
Direct Consumer Installment Loans and the Quarterly Report of Credit 
Card Plans.
    Collection identifier: FR 2835 and FR 2835a.
    OMB control number: 7100-0085.
    General description of collection: The FR 2835 collects information 
on interest rates on loans for new vehicles and loans for other 
consumer goods and personal expenses from a sample of commercial banks. 
The FR 2835a collects information on interest rates, finance charges, 
and loan balances for credit card accounts from a sample of commercial 
banks. The data from these reports help the Board analyze current 
household financial conditions and the implications of these conditions 
for household spending and, as such, these data provide valuable input 
to the monetary policymaking process. The

[[Page 78026]]

data are also used to create aggregate statistics on consumer loan 
terms that are published in the Federal Reserve's monthly statistical 
releases, G.19 Consumer Credit and G.20 Finance Companies, and in the 
Federal Reserve Bulletin. Some of the aggregates are used by the Board 
in the calculation of the aggregate household debt service and 
financial obligations ratios for the Federal Reserve's quarterly 
Household Debt Service and Financial Obligations Ratios statistical 
release and by the Bureau of Economic Analysis to calculate interest 
paid by households as part of the National Income and Product Accounts.
    Frequency: Quarterly.
    Respondents: The FR 2835 panel comprises a sample of commercial 
banks. The FR 2835a panel comprises a sample of commercial banks with 
$1 billion or more in credit card receivables and a representative 
group of smaller issuers.
    Total estimated number of respondents: 200.
    Total estimated annual burden hours: 274.\1\
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    \1\ More detailed information regarding this collection, 
including more detailed burden estimates, can be found in the OMB 
Supporting Statement posted at https://www.federalreserve.gov/apps/reportingforms/home/review. On the page displayed at the link, you 
can find the OMB Supporting Statement by referencing the collection 
identifiers, FR 2835 and FR 2835a.

    Board of Governors of the Federal Reserve System, November 7, 
2023.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-25094 Filed 11-13-23; 8:45 am]
BILLING CODE 6210-01-P