Proposed Agency Information Collection Activities; Comment Request, 55579-55580 [2010-22659]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 75, Number 176 (Monday, September 13, 2010)]
[Notices]
[Pages 55579-55580]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-22659]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY:

Background

    On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
as per 5 CFR 1320.16, to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instruments are placed into OMB's public docket files. The 
Federal Reserve may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB control number.

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve'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; and
    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.

DATES: Comments must be submitted on or before November 12, 2010.

ADDRESSES: You may submit comments, identified by FR 2248 or FR 3033s 
by any of the following methods:
     Agency Web Site: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: regs.comments@federalreserve.gov. Include docket 
number in the subject line of the message.
     FAX: 202/452-3819 or 202/452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as 
submitted, unless modified for technical reasons. Accordingly, your 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper form in Room MP-500 of the Board's Martin Building (20th and C 
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.
    Additionally, commenters should send a copy of their comments to 
the OMB Desk Officer by mail to the Office of Information and 
Regulatory Affairs, U.S. 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: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be

[[Page 55580]]

made available on the Federal Reserve Board's public Web site at: 
https://www.federalreserve.gov/boarddocs/reportforms/review.cfm or may 
be requested from the agency clearance officer, whose name appears 
below. Michelle Shore, Federal Reserve Board Clearance Officer (202-
452-3829), Division of Research and Statistics, Board of Governors of 
the Federal Reserve System, Washington, DC 20551. Telecommunications 
Device for the Deaf (TDD) users may contact (202) 263-4869, Board of 
Governors of the Federal Reserve System, Washington, DC 20551.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following report:
    Report title: Domestic Finance Company Report of Consolidated 
Assets and Liabilities.
    Agency form number: FR 2248.
    OMB control number: 7100-0005.
    Frequency: Monthly, Quarterly, and Semi-annually.
    Reporters: Domestic finance companies and mortgage companies.
    Estimated annual reporting hours: 350 hours.
    Estimated average hours per response: Monthly, 20 minutes; 
Quarterly, 30 minutes; Semi-annually, 10 minutes.
    Number of respondents: 70.
    General description of report: This information collection is 
authorized pursuant the Federal Reserve Act (12 U.S.C. 225(a)). 
Obligation to respond to this information collection is voluntary. 
Individual respondent data are confidential under section (b)(4) of the 
Freedom of Information Act (5 U.S.C. 552).
    Abstract: The FR 2248 is collected monthly as of the last calendar 
day of the month from a stratified sample of finance companies. Each 
monthly report collects balance sheet data on major categories of 
consumer and business credit receivables and on major short-term 
liabilities. For quarter-end months (March, June, September, and 
December), additional asset and liability items are collected to 
provide a full balance sheet. A supplemental section collects data on 
securitized assets. The data are used to construct universe estimates 
of finance company holdings, which are published in the monthly 
statistical releases Finance Companies (G.20) and Consumer Credit 
(G.19), in the quarterly statistical release Flow of Funds Accounts of 
the United States (Z.1), and in the Federal Reserve Bulletin (Tables 
1.51, 1.52, and 1.55).
    Current Actions: The Federal Reserve proposes to revise the FR 2248 
reporting form by: (1) Revising the reporting frequency for the 
breakout of 1-4 family real estate loans from quarterly to monthly, (2) 
adding data items in the liability and equity capital section of the 
report, (3) reordering the asset and liability data items from most 
liquid to least liquid, (4) adding two columns to create a clearer 
distinction among broad balance sheet data items, which are collected 
quarterly, detailed loan and lease data items, which are collected 
monthly, and the off-balance-sheet securitization data items; and (5) 
deleting the supplemental data items on the sale of receivables. The 
proposed changes to the FR 2248 would be effective with the December 
31, 2010, report date.
    Proposal to approve under OMB delegated authority the 
implementation of the following report:
    Report title: Survey of Finance Companies.
    Agency form number: FR 3033s.
    OMB control number: 7100-0277.
    Frequency: One-time.
    Reporters: Finance companies and mortgage companies.
    Estimated annual reporting hours: 2,700 hours.
    Estimated average hours per response: 1.5 hours.
    Number of respondents: 1,800.
    General description of report: This information collection is 
authorized pursuant the Federal Reserve Act (12 U.S.C. 225a, 263, and 
355-59). Obligation to respond to this information collection is 
voluntary. Individual respondent data are confidential under section 
(b)(4) of the Freedom of Information Act (5 U.S.C. 552).
    Abstract: This information collection is a two-stage survey of 
finance and mortgage companies. The first stage is a simple 
questionnaire (FR 3033p) that is sent to all known domestic finance and 
mortgage companies and that asks for information about each company's 
total net assets, areas of specialization, and other characteristics. 
From the questionnaire respondents, the Federal Reserve draws a 
stratified random sample of finance and mortgage companies for the 
second stage, the survey itself (FR 3033s). The survey requests 
detailed information from both sides of the respondents' balance 
sheets. The Federal Reserve Board initiates data collection and 
analysis, and staff at the Federal Reserve Banks follow up on data 
quality issues, collect data from late FR 3033s, and resolve other 
outstanding questions.
    Current Actions: The first stage of this survey, the Census of 
Finance Companies (FR 3033p), was conducted in April 2010. The FR 3033p 
was sent to all companies that met the criteria developed to identify 
the potential universe of domestic finance companies. From the universe 
of finance companies as determined by the FR 3033p, a stratified random 
sample of 3,000 finance companies would be drawn for the FR 3033s. The 
survey would be sent in February 2011 and collect detailed information, 
as of December 31, 2010, from both sides of the respondents' balance 
sheets, as well as companies' geographic scope of operations and 
servicing activities. The data collected from this survey would be used 
for two purposes: To benchmark the consumer and business finance series 
collected on the monthly Domestic Finance Company Report of 
Consolidated Assets and Liabilities (FR 2248; OMB No. 7100-0005) and to 
increase the Federal Reserve's understanding of an important part of 
the financial system.
    The Federal Reserve proposes to revise the FR 3033s by: (1) 
Increasing the respondent panel size from 750 to 3,000, (2) adding a 
section to solicit information on servicing activities and geographic 
distribution of the company's activities, (3) changing the survey 
title, (4) revising the reporting form by reordering the asset and 
liability data items from most liquid to least liquid and asking for 
additional detail on assets and liabilities, and (5) adding two columns 
to create a clearer distinction among the broad balance sheet data 
items, detailed loan and lease data items, and off-balance-sheet 
securitization data items.

    Board of Governors of the Federal Reserve System, September 7, 
2010.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 2010-22659 Filed 9-10-10; 8:45 am]
BILLING CODE 6210-01-P