[Federal Register Volume 89, Number 65 (Wednesday, April 3, 2024)]
[Notices]
[Pages 23018-23019]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07091]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting 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).

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.
    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.

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. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. The OMB inventory, as well as copies of the 
PRA Submission, supporting statements (which contain more detailed 
information about the information collections and burden estimates than 
this notice), and approved collection of information instrument(s) are 
available at https://www.reginfo.gov/public/do/PRAMain. These documents 
are also available on the Federal Reserve 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 Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of 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 data are also used to create 
aggregate statistics on consumer loan terms that are published in the 
some of the Federal Reserve's monthly statistical releases.
    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 
identifier, FR 2835 and FR 2835a.

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[[Page 23019]]

    Current actions: On November 14, 2023, the Board published a notice 
in the Federal Register (88 FR 78025) requesting public comment for 60 
days on the extension, without revision, of the FR 2835 and FR 2835a. 
The comment period for this notice expired on January 16, 2024. The 
Board received one comment.

Detailed Discussion of Public Comments

    The Board received one comment on the FR 2835 and FR 2835a from the 
U.S. Department of Commerce Bureau of Economic Analysis (BEA). BEA was 
in strong support of the continued collection of the FR 2835 and FR 
2835a data. The Board will adopt the extension, without revision of the 
FR 2835 and FR 2835a as originally proposed.

    Board of Governors of the Federal Reserve System.
Ann Misback,
Secretary of the Board.
[FR Doc. 2024-07091 Filed 4-2-24; 8:45 am]
BILLING CODE 6210-01-P