[Federal Register Volume 89, Number 46 (Thursday, March 7, 2024)]
[Notices]
[Pages 16568-16570]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04887]


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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, with revision, 
the Senior Financial Officer Surveys (FR 2023; OMB No. 7100-0223).

[[Page 16569]]


DATES: Comments must be submitted on or before May 6, 2024.

ADDRESSES: You may submit comments, identified by FR 2023, 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 a.m. and 5 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, With 
Revision, the Following Information Collection

    Collection title: Senior Financial Officer Surveys.
    Collection identifier: FR 2023.
    OMB control number: 7100-0223.
    General description of collection: The Board uses the surveys in 
this collection to gather qualitative and limited quantitative 
information about liability management, the provision of financial 
services, and the functioning of key financial markets from a selection 
of up to 80 large commercial banks and other depository institutions 
(or, if appropriate, from other major financial market participants). 
This voluntary survey is completed by a senior officer at each 
respondent institution. In recent years, the Board has conducted two 
surveys per year, but it may conduct up to four surveys per year when 
significant informational needs arise that cannot be met from existing 
data sources.
    Proposed revisions: The Board proposes to revise the FR 2023 by 
increasing the panel size from 80 to 100 and changing the method of 
collection from email to an online survey tool. An example of an online 
survey tool is a software platform by Qualtrics, a commercial 
experience management company that is a Federal Reserve vendor. The 
larger panel size is intended to obtain more data from relatively 
smaller depository institutions (those with between $1 billion and $50 
billion in total assets). Compared to the current data collection 
method (an emailed Excel spreadsheet), use of an online tool would 
enhance the survey with interactive features (such as posing follow-up 
questions based on respondent inputs), improved automated safeguards 
against data quality risks, workflow efficiency features such as 
response tracking and version control, and usability on mobile devices. 
These revisions would be effective on September 1, 2024.
    Frequency: Up to four times a year.
    Respondents: Domestic depository institutions and foreign banking 
organizations.
    Total estimated number of respondents: 100.
    Total estimated change in burden: 240.
    Total estimated annual burden hours: 1,200.\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 
identifier, FR 2023.


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    Board of Governors of the Federal Reserve System, March 4, 2024.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2024-04887 Filed 3-6-24; 8:45 am]
BILLING CODE 6210-01-P