[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).
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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