Proposed Agency Information Collection Activities; Comment Request, 54912-54917 [2012-21960]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 77, Number 173 (Thursday, September 6, 2012)]
[Notices]
[Pages 54912-54917]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-21960]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: 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), 
to approve of and assign OMB control numbers to collection of 
information requests and requirements conducted or sponsored by the 
Board. 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.

DATES: Comments must be submitted on or before November 5, 2012.

ADDRESSES: You may submit comments, identified by (FR 3066a, b, c, and 
d), 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.
     Email: regs.comments@federalreserve.gov. Include OMB 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Robert deV. Frierson, 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 
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 may send a copy of their comments to the 
OMB Desk Officer--Shagufta Ahmed--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: Geoffrey R. Gerdes, Senior Economist, 
(202) 872-4953, Division of Reserve Bank Operations and Payment 
Systems, Board of Governors of the Federal Reserve System, Washington, 
DC 20551.
    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 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.
    Federal Reserve Board Clearance Officer--Cynthia Ayouch--Division 
of Research and Statistics, Board of Governors of the Federal Reserve 
System, Washington, DC 20551, (202) 452-3829. Telecommunications Device 
for the Deaf (TDD) users may contact (202) 263-4869, Board of Governors 
of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION:

Request for Comment on Information Collection Proposal

    The following information collection, which is being handled under 
this delegated authority, has received initial Board approval and is 
hereby published for comment. At the end of the comment period, the 
proposed information collection, 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;
    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 start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Proposal to approve under OMB delegated authority the 
implementation of the following information collection:
    Report title: Retail Payments Surveys.\1\
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    \1\ The proposed surveys, supporting statement, and other 
documentation are available on the Board's public Web site at: 
https://www.federalreserve.gov/boarddocs/reportforms/review.cfm.
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    Agency form number: FR 3066a, b, c, and d.
    OMB control number: 7100--to be assigned.
    Frequency: FR 3066a, b, and c: triennial (once every three years) 
and FR 3066d: annual and on occasion.
    Reporters: Depository and financial institutions, payment networks, 
payment processors, and payment instrument issuers.
    Estimated reporting hours: FR 3066a: 49,000 hours; FR 3066b: 1,040 
hours; FR 3066c: 450 hours; FR 3066d: 400 hours.
    Estimated average hours per response: FR 3066a: 35 hours; FR 3066b: 
8 hours; FR 3066c: 3 hours; FR 3066d: 8 hours.
    Estimated number of respondents: FR 3066a: 1,400; FR 3066b: 130; FR 
3066c: 150; FR 3066d: 50.
    General description of report: The Federal Reserve is generally 
authorized

[[Page 54913]]

to collect the information called for by the FR 3066 series pursuant to 
sections 2A and 12A of the Federal Reserve Act. In addition, survey 
questions in the FR 3066 are authorized pursuant to the Board's 
authority under one or more of the following statutes:
     Expedited Funds Availability Act section 609 (12 U.S.C. 
4008)
     Electronic Fund Transfer Act section 904 (15 U.S.C. 1693b) 
and 920 (15 U.S.C. 1693o-2)
     Truth in Lending Act section 105 (15 U.S.C. 1604)
     The Check Clearing for the 21st Century Act section 15 (12 
U.S.C. 5014)
     Federal Reserve Act section 11 (Examinations and reports, 
Supervision over Reserve Banks, and Federal Reserve Note provisions, 12 
U.S.C. 248); section 11A (Pricing of Services, 12 U.S.C. 248a); section 
13 (FRB deposits and collections, 12 U.S.C. 342); and section 16 
(Issuance of Federal Reserve Notes, par clearance, and FRB 
clearinghouse, 12 U.S.C. 248-1, 360, and 411)
    Additionally, depending upon the survey respondent, the information 
collection may be authorized under a more specific statute. 
Specifically, the Board is authorized to collect information from state 
member banks under section 9 of the Federal Reserve Act (12 U.S.C. 
324); from bank holding companies (and their subsidiaries) under 
section 5(c) of the Bank Holding Company Act (12 U.S.C. 1844(c)); from 
savings and loan holding companies under (12 U.S.C. 1467a(b)(3) and 
5412), from Edge Act and agreement corporations under sections 25 and 
25A of the Federal Reserve Act (12 U.S.C. 602 and 625); and from U.S. 
branches and agencies of foreign banks under section 7(c)(2) of the 
International Banking Act of 1978 (12 U.S.C. 3105(c)(2)), and under 
section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)).
    Obligation to Respond: Voluntary.
    Confidentiality: Respondents to the various surveys are requested 
to report confidential business information, such as information 
requested in the FR 3066a (for depository and financial institutions) 
about the number and value of deposits in various customer account 
types, image check deposits, paper check deposits, ACH entries, wire 
transfers, debit and prepaid card transactions, credit card 
transactions, mobile payments, and transactions involving third-party 
fraud. The other surveys request similar types of confidential ``number 
and value'' information appropriate to the surveyed entities. For 
example, the Network, Processor, and Issuer Payments Surveys (FR 3066b) 
request the number, value, and type of transactions involving credit 
cards (both general-purpose and private-label), debit cards, and 
prepaid cards from respondents (card networks, card processors, and 
retail merchants). Only aggregate totals from the surveys, such as 
estimated national volumes and trends in different types and categories 
of payments, check distribution, and established and emerging payment 
instruments, are proposed to be publicly released.
    Under exemption 4 of the Freedom of Information Act (``FOIA''), 5 
U.S.C. 552(b)(4), ``trade secrets and commercial or financial 
information obtained from a person and privileged or confidential'' may 
be excluded from disclosure. The confidential business information 
collected voluntarily from individual respondents may be withheld, as 
release of such information would impair the Board's ability to collect 
such information in the future. Moreover, disclosure of such 
confidential business information could cause substantial competitive 
harm to the survey respondents. See National Parks & Conservation Ass'n 
v. Morton, 498 F.2d 765, 770 (D.C. Cir. 1974).
    Abstract: The Board proposes to implement the voluntary Retail 
Payments Surveys: Depository and Financial Institution Payments Survey 
(FR 3066a); Network, Processor, and Issuer Payments Surveys (FR 3066b); 
Check Sample Survey (FR 3066c); and Retail Payments Survey Supplement 
(FR 3066d).
    These surveys would be designed to collect information needed to 
support the Federal Reserve System's role in the retail payments 
system.\2\ The Federal Reserve plays a vital role in the U.S. payments 
system, helping to foster its safety and efficiency, and providing a 
variety of banking services to depository institutions and the federal 
government.\3\
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    \2\ While the Federal Reserve is involved with both retail and 
wholesale payments, these surveys are designed to collect 
information on retail payments and the systems or networks that are 
primarily used to make retail payments. Retail payments are 
generally for relatively small dollar amounts and often involve a 
depository institution's retail clients--individuals, businesses, 
and governments. Wholesale payments are generally for relatively 
large dollar amounts, and often involve a depository institution's 
large corporate customers or counterparties, including other 
financial institutions. Wholesale payments are not the main focus of 
the surveys, but may be included in cases where there is a need.
    \3\ For depository institutions, the Reserve Banks maintain 
accounts for reserve and clearing balances and provide various 
payment services, including collecting checks, electronically 
transferring funds, and distributing and receiving currency and 
coin. For the federal government, they act as fiscal agents. As 
such, the Reserve Banks maintain the Treasury Department's 
transaction account; pay Treasury checks; process electronic 
payments; and issue, transfer, and redeem U.S. government 
securities.
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    The Board proposes to conduct these surveys in partnership with the 
Reserve Banks' Retail Payment Office (RPO), operated by the Federal 
Reserve Bank of Atlanta. These surveys would be the latest iteration in 
a series of surveys of depository institutions, payments networks, 
processors, and issuers, collectively called the Federal Reserve 
Payments Study (FRPS) that were conducted at 3-year intervals by the 
RPO from 2001 to 2010.\4\
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    \4\ The FR 3066a and the FR 3066b would be designed to be 
compatible with and a continuation of past triennial surveys on the 
retail payments system conducted by RPO in 2001, 2004, 2007, and 
2010. Data from both surveys would be used to create aggregate 
estimates for 2012. Reports on past surveys are available at https://frbservices.org/communications/payment_system_research.htm. The 
Board has also published three Federal Reserve Bulletin articles on 
the studies in August 2002, Spring 2005, and October 2008.
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    The FR 3066a and the FR 3066b would collect information on the 
national volume (number and value) of major categories and 
subcategories of established and emerging methods of noncash payment 
from a nationally representative, stratified random sample of 
depository institutions and from a census of payments networks, 
processors, and issuers, respectively. These two surveys would also 
collect information on trends in different business arrangements and 
technologies connected with the initiation, authorization, collection, 
and processing of payments. In addition, the FR 3066a would collect the 
volumes of bank customers' cash withdrawals and deposits at retail 
branches, wholesale vaults, and automated teller machines (ATMs). The 
FR 3066b would collect information on cash substitution, such as the 
distribution of low-value purchases made with noncash instruments and 
the loading of cash onto other payment instruments.
    The FR 3066c would collect data from samples of individual checks 
obtained from a sample of depository institutions.\5\ The FR 3066d 
would collect payment volumes similar to those collected in the FR 
3066a or the FR 3066b from a subset of respondents to obtain 
information about changes in volumes that may occur in the two years 
between triennial surveys.
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    \5\ This survey would be similar to the Check Sample Studies, 
part of the FRPS, conducted by the RPO in 2001, 2007, and 2010. As 
with past studies, copies of checks or any information that would 
identify payers or payees on the checks would not be retained or 
used for any purpose other than estimating the aggregate proportions 
of different types of checks.
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    In general, the FR3066a, b, and c surveys would be distributed in 
Q1

[[Page 54914]]

2013, and data collection would primarily take place during Q2 2013.

Depository and Financial Institution Payments Survey (FR 3066a)

    The survey reference period (the time period for which respondents 
would report data) is proposed to be March 2013. Past FRPS surveys used 
a reference period of March and April, and data were reported 
separately for each month.
    The Board specifically requests comment on whether reporting for 
March 2013 or another survey reference period is more feasible and/or 
useful, such as reporting data for the months of March and April 2013 
combined.
    The FR 3066a would comprise ten sections (respondents would only 
answer sections that apply to their institutions):
    1. Institution Profile: Respondents would verify which affiliates 
are associated with their survey responses as of March 31, 2013, and 
provide corrections.
    2. Customer Accounts: Respondents would report the number of and 
value of customers' deposits in transaction accounts, funds in prepaid 
card program accounts, and balances in credit card accounts broken out 
into subcategories. Transaction deposit accounts would be broken out 
into subcategories of consumer accounts and business/government 
accounts; prepaid card program accounts would be broken out into 
subcategories of customer accounts managed by the respondents' 
institutions and customer accounts managed by third parties; and credit 
card accounts would be broken out into subcategories of consumer 
accounts and business/government accounts. Respondents would also 
report the number of outstanding and active (during Q1 2013) payment 
cards associated with these accounts.
    The Board specifically requests comment on the following:
    i. How institutions refer to ``full service'' transaction deposit 
accounts (e.g. checking accounts, debit card accounts, etc.) to 
distinguish them from prepaid card accounts.
    ii. Whether prepaid card-issuing depository institutions can 
reliably measure the number of end-user prepaid card accounts and 
prepaid cards outstanding for prepaid card programs managed by third 
parties.
    iii. Whether it is more feasible and/or useful to ask for number of 
active cards outstanding or number of accounts with recent card 
activity for credit card, debit card, and prepaid card accounts.
    iv. The most feasible and/or useful time period over which a 
payment card account should have payment or transaction activity to be 
considered active as well as what kinds of transactions, if any, should 
not be counted toward activity.
    3. Checks:
    a. Check Payments: Respondents would report the number and value of 
checks drawn on their institutions by subcategories needed to identify 
interbank checks and avoid double-counting correspondent volumes.
    b. Check Deposits: Respondents would report the number and value of 
deposited checks, including the number and value of paper check 
deposits and image check deposits broken out into consumer client image 
capture, business customer client image capture, and correspondent 
checks. For image deposits, the section would also obtain information 
on the types of customer check image deposits accepted, including 
whether respondents' institutions accepted image deposits from 
customers using a remote scanner attached to a PC or point-of-sale 
device, smartphone or other mobile device, or ATM image capture 
(envelope-free deposits).
    The Board specifically requests comment on whether institutions are 
able to report customer check image deposit volumes (number and value) 
into the categories listed above, or if a different type of 
categorization would be more feasible and/or useful.
    c. Outgoing Check Returns: Respondents would report the number and 
value of outgoing returned checks.
    4. ACH:
    a. Network ACH Entries: Respondents would report the number and 
value of interbank ACH credits originated and ACH debits received 
through network operators, including the number and value of ``offset 
entries.''
    b. Direct Exchange ACH Entries: Respondents would report the number 
and value of interbank ACH credits originated and debits received 
directly from other institutions rather than through network operators.
    c. In-House On-Us ACH Entries: Respondents would report the number 
and value of in-house on-us credits originated and debits received by 
their institutions, including the number and value of ``offset 
entries.''
    The Board specifically requests comment on whether, similar to 
section 3.a Check Payments above, including a breakout of ACH volumes 
(number and value) into subcategories needed to identify interbank ACH 
payments would help to avoid double-counting correspondent ACH volumes.
    5. Wire Transfers: Respondents would report the number and value of 
wire transfers originated for nonbank customers (a type of retail 
payment), including the number and value of consumer and business/
government wire transfers and the number and value of wire transfers to 
U.S. and foreign payees.
    The Board specifically requests comment on the following:
    i. Whether institutions can separate wire transfer origination 
volumes (number and value) by consumer and business/government 
customers.
    ii. Whether institutions can separate wire transfer origination 
volumes (number and value) between domestic and foreign wire transfers.
    6. Debit and Prepaid Cards: Respondents would report the number and 
value of debit and prepaid card transactions for cards issued by their 
institutions, including the number and value of signature and PIN 
transactions, the number and value of debit card transactions from 
transaction deposit accounts, and the number and value of prepaid card 
transactions. Respondents would also report the number and value of 
cash back transactions.
    7. Credit Cards: Respondents would report the number and value of 
total credit card transactions for cards issued by their institutions, 
including the number and value of consumer and business/government 
credit card transactions and the number and value of cash advances.
    8. Cash:
    a. Cash Withdrawals: Respondents would report the number and value 
of cash withdrawals at branch locations, wholesale vaults, and ATMs, 
including the number and value of cash withdrawals at ATMs from 
transaction deposit accounts and prepaid card program accounts.
    The Board specifically requests comment on whether institutions can 
report cash withdrawals separated by the access method categories 
listed above (e.g., over-the-counter, ATM, etc.), or whether another 
method of categorization would be more feasible and/or useful.
    b. Cash Deposits: Respondents would report the number and value of 
cash deposits at branch locations, wholesale vaults, and ATMs.
    c. ATM Terminals: Respondents would report the number of ATM 
terminals owned and sponsored by their institutions, including the 
number of ATM terminals at branch locations and offsite.\6\
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    \6\ The Board believes that ATM networks require non-depository 
institution ATM owners to obtain sponsorship from depository 
institutions, and that networks view these transactions as belonging 
to the sponsoring institutions.

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    The Board specifically requests comment on the following:
    i. Whether any non-depository institution ATM owners are able to 
directly connect through ATM networks or if they all require depository 
institution sponsorship.
    ii. Whether institutions can report non-branded ATM terminals that 
they sponsor.
    9. Selected Payment Initiation Channels: Respondents would report 
the number and value of online payments and mobile payments, including 
the number and value of relevant bill pay transactions and person-to-
person transfers.
    The Board specifically requests comment on the following:
    i. How institutions define an ``online person-to-person funds 
transfer system.''
    ii. Whether institutions can separately track payments initiated 
via mobile devices and distinguish mobile payments from other payments 
from the same accounts.
    10. Third-Party Payment Fraud: Respondents would report the number 
and value of unauthorized check payments, unauthorized ACH credits and 
debits, unauthorized debit and prepaid card transactions, unauthorized 
credit card transactions, and unauthorized ATM cash withdrawals.
    The Board specifically requests comment on whether institutions can 
report information on unauthorized transactions, as defined, or whether 
another definition of third-party fraud would be more feasible and/or 
useful to report.

Network, Processor, and Issuer Payments Surveys (FR 3066b)

    The FR 3066b would cover seven categories of payment instruments, 
and comprise 16 different surveys, each specific to a particular 
payment instrument and/or respondent type (respondents would only 
answer surveys that apply to their organizations):
    1. General-Purpose Credit Card Network Survey: Networks would 
report the number and value of general-purpose credit card transactions 
in 2012, including the number and value of credit card and charge card 
transactions, the number and value of transactions by payment 
initiation and authorization method, the number and value of consumer 
and business/government transactions, the number and value of 
transactions with U.S. payees and payees outside the U.S., and the 
number and value of transactions broken out by transaction dollar 
amount. Respondents would also report the number of credit and charge 
cards outstanding and the total number and value of general-purpose 
credit card transactions in 2010 and 2011.
    The Board specifically requests comment on the following:
    i. Whether networks can report cash advances received in physical 
cash form as a subset of total cash advances. (Total cash advances 
include not only physical cash advances but also other funds transfers 
such as an electronic transfer to a transaction deposit account or a 
payment made with credit account funds using a special check issued to 
the cardholder).
    ii. What terms the industry most commonly uses for initiation 
methods such as near field communication (NFC), near-field radio-
frequency identification (RFID), the Europay, MasterCard and Visa 
standard (EMV), and other chip technologies; what terms the industry 
uses for authorization methods that use dynamic data generated by a 
card or a network-sponsored online verification system; and which 
initiation and authorization methods are feasible and/or useful to 
report.
    iii. Whether networks can distinguish between payments to domestic 
and foreign payees.
    iv. The most feasible and/or useful time period over which a 
general-purpose credit card account should have payment or transaction 
activity to be considered active, as well as what kinds of 
transactions, if any, should not be counted toward activity.
    2. Private-Label Credit Card Retail Merchant Issuer Survey: Retail 
merchant issuers would report the number and value of private-label 
credit card transactions in 2012, including the number and value of 
transactions by payment initiation method, the number and value of 
consumer and business/government transactions, and the number and value 
of transactions broken out by transaction dollar amount. Respondents 
would also report the number of private-label cards outstanding as of 
December 31, 2012, and the total number and value of private-label 
credit card transactions in 2010 and 2011. Retail merchant issuers 
would only report on transactions that they processed in-house so that 
transactions with outsourced processing are not double-counted in the 
Processor Survey.
    The Board specifically requests comment on the most feasible and/or 
useful time period over which a private-label credit card account 
should have payment or transaction activity to be considered active, as 
well as what kinds of transactions, if any, should not be counted 
toward activity.
    3. Private-Label Credit Card Processor Survey: Processors would 
report the number and value of private-label credit card transactions 
in 2012, including the number and value of transactions by payment 
initiation method, the number and value of consumer and business/
government transactions, and the number and value of transactions 
broken out by transaction dollar amount. Respondents would also report 
the number of private-label cards outstanding as of December 31, 2012, 
and the total number and value of private-label credit card 
transactions in 2010 and 2011.
    The Board specifically requests comment on the most feasible and/or 
useful time period over which a private-label card account should have 
payment or transaction activity to be considered active, as well as 
what kinds of transactions, if any, should not be counted toward 
activity.
    4. Debit Card and General-Use Prepaid Card Network Surveys:
    The Board specifically requests comment on the following:
    i. What terms the industry most commonly uses for initiation 
methods such as NFC, near-field RFID, EMV, and other chip technologies; 
what terms the industry uses for authorization methods that use dynamic 
data generated by a card or a network-sponsored online verification 
system; and which initiation and authorization methods are most 
feasible and/or useful to report.
    ii. Whether networks can distinguish between payments to domestic 
and foreign payees.
    a. Debit Card Network Survey: Networks would report the number and 
value of debit card transactions in 2012, including the number and 
value of transactions by payment initiation and authorization method, 
the number and value of consumer and business/government transactions, 
the number and value of transactions with U.S. payees and payees 
outside the U.S., and the number and value of transactions broken out 
by transaction dollar amount. If a network could not report general-use 
prepaid card transactions separately from debit card transactions, the 
network would report both debit card and general-use prepaid card 
transactions on this survey.
    b. General-Use Prepaid Card Network Survey: Networks would report 
the number and value of general-use prepaid card transactions in 2012, 
including the number and value of transactions by payment initiation 
and authorization method, the number and value of transactions with 
U.S. payees

[[Page 54916]]

and payees outside the U.S., and the number and value of transactions 
broken out by transaction dollar amount. A network would only complete 
this survey if it could report debit card transactions and general-use 
prepaid card transactions separately.
    The Board specifically requests comment on how prepaid cards should 
be defined in order to develop a consistent definition among responses 
provided by networks and processors.
    5. General-Use Prepaid Card Processor Survey: Processors would 
report the number and value of general-use prepaid card transactions in 
2012, including the number and value of transactions by payment 
initiation method, the number and value of transactions with U.S. 
payees and payees outside the U.S., the number and value of 
transactions by prepaid card type, and the number and value of 
transactions broken out by transaction dollar amount. Respondents would 
also report the number and value of credits and loads to general-use 
prepaid cards in 2012 and the number of general-use prepaid cards 
outstanding as of December 31, 2012.
    The Board specifically requests comment on the following:
    i. How prepaid cards should be defined in order to develop a 
consistent definition among responses provided by networks and 
processors.
    ii. The categories (e.g. gift, medical, payroll, etc.) by which 
processors can separate prepaid card volumes and which categories are 
most feasible and/or useful.
    iii. Whether processors, issuers, or networks would be better able 
to report volumes by category.
    iv. Whether processors can categorize fund deposits into prepaid 
card accounts (loads) by the payment instrument or method used to 
provide the funds.
    v. The most feasible and/or useful time period over which a 
general-use prepaid card account should have payment or transaction 
activity to be considered active, as well as what kinds of 
transactions, if any, should not be counted toward activity.
    6. Private-Label Prepaid Card Issuer and Processor Survey: 
Processors would report the number and value of private-label prepaid 
card transactions in 2012, including the number and value of 
transactions by payment initiation method, the number and value of 
transactions by prepaid card type, and the number and value of 
transactions broken out by transaction dollar amount. Respondents would 
also report the number and value of credits and loads to private-label 
prepaid cards in 2012, the number and value of cash withdrawals from 
private-label prepaid card accounts in 2012, the number of general-use 
prepaid cards outstanding as of December 31, 2012, and the total number 
and value of private-label prepaid card transactions in 2010 and 2011.
    The Board specifically requests comment on the following:
    i. The categories (e.g. gift, customer incentive, etc.) by which 
processors can separate prepaid card volumes and which categories are 
most significant.
    ii. Whether processors can categorize deposits into prepaid card 
accounts (loads) by the payment instrument or method used to provide 
the funds.
    iii. The most feasible and/or useful time period over which a 
private-label prepaid card account should have payment or transaction 
activity to be considered active, as well as what kinds of 
transactions, if any, should not be counted toward activity.
    7. Emerging Payments Processor Surveys: The Board specifically 
requests comment on whether there are additional emerging payments that 
should be measured in the survey.
    a. Person-to-Person (P2P) & Money Transfer Processor Survey: 
Processors would report the number and value of P2P and money transfer 
transactions in 2012, including the number and value of transactions 
with U.S. payees and payees outside the U.S., the number and value of 
transactions broken out by transaction dollar amount, the number and 
value of transactions by clearing system, and the number and value of 
transactions by origination channel.
    The Board specifically requests comment on the following:
    i. Whether networks can distinguish between payments to domestic 
and foreign payees.
    ii. Whether processors are able to report payments by initiation 
channel (Web site, mobile, in-person, etc.).
    b. Online Bill Payment Processor Survey: Processors would report 
the number and value of bank/intermediary and biller direct online bill 
payment transactions in 2012, including the number and value of 
transactions broken out by transaction dollar amount, the number and 
value of bank/intermediary online bill payment transactions by 
settlement system.
    c. Walk-In Bill Payment Processor Survey: Processors would report 
the number and value of walk-in bill payment transactions in 2012, 
including the number and value of transactions broken out by 
transaction dollar amount and the number and value of transactions by 
settlement system. Respondents would also report on the funding method 
for walk-in bill payment transactions.
    The Board specifically requests comment on whether processors are 
able to categorize by the payment instrument or method used to fund 
bill payment transactions.
    d. Deferred Payment Processor Survey: Processors would report the 
number and value of deferred payment transactions in 2012, including 
the number and value of transactions broken out by transaction dollar 
amount and the number and value of transactions by merchant settlement 
system. Respondents would also report on the funding method for 
deferred payment transactions.
    The Board specifically requests comment on whether processors are 
able to categorize by the payment instrument or method used to fund 
transactions.
    e. Private-Label ACH Debit Card Processor Survey: Processors would 
report the number and value of private-label ACH debit card 
transactions in 2012, including the number and value of transactions by 
transaction dollar amount and the number and value of transactions by 
merchant settlement system. Respondents would also report on the number 
of private-label ACH debit cards outstanding as of December 31, 2012.
    The Board specifically requests comment on the most feasible and/or 
useful time period over which a private-label ACH debit card account 
should have payment or transaction activity to be considered active, as 
well as what kinds of transactions, if any, should not be counted 
toward activity.
    f. Far-Field RFID Payment Processor Survey: Processors would report 
the number and value of far-field RFID transactions in 2012, including 
the number and value of transactions by transaction dollar amount. 
These payments typically involve a vehicle-mounted transmitter used to 
automatically pay at tollbooths at bridges and roads. Respondents would 
also report on the funding method for far-field RFID transactions.
    The Board specifically requests comment on whether processors are 
able to categorize by the payment instrument or method used to fund 
accounts and transactions.
    g. Secure Online Payment Processor Survey: Processors would report 
the number and value of secure online payment transactions in 2012, 
including the number and value of transactions by transaction dollar 
amount.
    h. eCommerce PIN Debit Payment Processor Survey: Processors would 
report the number and value of

[[Page 54917]]

eCommerce PIN debit payment transactions in 2012, including the number 
and value of transactions by transaction dollar amount.
    i. Mobile Wallet Processor Survey: Processors would report the 
number and value of mobile wallet transactions in 2012, including the 
number and value of transactions by transaction dollar amount.
    The Board specifically requests comment on which entities should 
receive the Mobile Wallet Processor Survey, and what range of products 
should be included.
    Check Sample Survey (FR 3066c):
    The FR 3066c would conduct a survey that in past FRPS surveys was 
referred to as the Check Sample Study (CSS). This survey would collect 
data on individual checks paid in 2012. Versions of the CSS were 
conducted in three out of four FRPS, including the first and last. The 
survey instrument design could be modified slightly, but is expected to 
be very similar to the instrument used in 2010. More importantly, the 
data collection method may be revised based on proposals received 
through a competitive bidding process. Past approaches included the 
collection of individual check information on multiple survey forms 
provided by a stratified sample of about 150 depository institutions 
and the use of survey forms by personnel employed by a contractor using 
images retrieved from a single institution that aggregated data from 
about 11 very large institutions. The decision on what approach to use 
for this survey will be based on an evaluation of the proposals 
received. Depository institutions would not be asked to complete the 
survey instrument.
    The Board specifically requests comment on the following:
    i. The most effective methods of selecting a random sample of check 
images from within depository institutions.
    ii. The most valuable and feasible information to collect from the 
checks.

Retail Payments Survey Supplement (FR 3066d)

    The FR 3066d data may be collected from networks, processors, and 
issuers in order to update the volume of major electronic payment 
instruments such as credit cards and prepaid cards, and emerging 
payment instruments. The surveys may include parts of the FR 3066a and 
b, or may involve new sections if new payment system developments 
emerge.

    Board of Governors of the Federal Reserve System, August 31, 
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-21960 Filed 9-5-12; 8:45 am]
BILLING CODE 6210-01-P