Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 74187-74191 [2012-30094]

Download as PDF srobinson on DSK4SPTVN1PROD with Federal Register / Vol. 77, No. 240 / Thursday, December 13, 2012 / Notices telephone at (202) 523–5843 or by email at OTI@fmc.gov. Bisac Logistics, Inc. (NVO & OFF), 7685 NW. 80th Terrace, Medley, FL 33166, Officers: Hugo E. Martinez, Secretary (QI), Olga P. Martinez, President, Application Type: New NVO & OFF License. Carlos A. Lastra Customhouse Broker Inc. (OFF), 10450 SW 140 Road, Miami, FL 33176, Officers: Carlos A. Lastra, President (QI), Patricia M. Lastra, Vice President, Application Type: New OFF License. CMK Freight Forwarders, LLC (NVO & OFF), 1834 Harden Blvd., Lakeland, FL 33803, Officers: Steven C. Pniewski, Manager (QI), Manuel R. Echevarria, President, Application Type: New NVO & OFF License, Global Wide Logistics, Inc. (NVO), 1937 Davis Street, Unit G, San Leandro, CA 94577, Officers: Mohammed N. Karimi, President (QI), Abdul Faizyar, Treasurer, Application Type: New NVO License. ILE Global LLC (OFF), 181 S. Franklin Avenue, Suite 601, Valley Stream, NY 11581, Officers: Victor Pezzelato, Vice President Sales (QI), Orit Horn, Managing Member, Application Type: QI Change. Matson Logistics Warehousing, Inc. (NVO & OFF), 1855 Gateway Boulevard, Suite 250, Concord, CA 94520, Officers: Michael T. Johnson, Vice President (QI), Rusty K. Rolfe, President, Application Type: Transfer to Matson Logistics, Inc. and QI Change. Miami Freight Forwarders, LLC (OFF), 11397 NW 7th Street, Suite 202, Miami, FL 33172, Officers: Finees M. Casado, Manging Member (QI), Wilmag E. Casado, Member, Application Type: New OFF License. Ocean Cargo Express Lines, LLC (NVO & OFF), 11892 Speekway Blvd., Hardeeville, SC 29927, Officer: Tamara Meadows, Member (QI), Application Type: QI Change. PAI Logis Inc (NVO & OFF), 510 Plaza Drive, Suite 1880, College Park, GA 30349, Officers: Jung Sik Kong, Secretary (QI), Tae Hyun Roh, President, Application Type: New NVO & OFF License. Pim Global Logistics, Inc. (NVO & OFF), 1140 E. Sandhill Avenue, Carson, CA 90746, Officer: Kelvin Coze, President (QI), Application Type: New NVO License. Sea Star Line Caribbean, LLC (NVO), 10550 Deerwood Park Blvd., Suite 509, Jacksonville, FL 32256, Officers: William F. Taylor, Vice President (QI), Peter Keller, President, Application Type: New NVO License. VerDate Mar<15>2010 16:21 Dec 12, 2012 Jkt 229001 Sky Express World Courier, Inc. (NVO), 1740 S. Los Angeles Street, Suite 201, Los Angeles, CA 90015, Officers: Gyou H. Ahn, Secretary (QI), Hyoungtae Kim, CEO, Application Type: New NVO License. Unigroup Worldwide, Inc. dba Brewster Lines (NVO & OFF), One Premier Drive, Fenton, MO 63026, Officers: John M. Hiles, Assistant Secretary (QI), Patrick G. Baehler, President, Application Type: QI Change. United Van Lines International, Inc. (OFF), One United Drive, Fenton, MO 63026, Officers: John Hiles, Assistant Secretary (QI), Patrick G. Baehler, President, Application Type: QI Change. Zoom Ocean Freight LLC (NVO), 2240 NW 114th Avenue, Miami, FL 33172, Officers: Georgina Barona, Manager (QI), Zonia B. De Atencio, Manager, Application Type: New NVO License. By the Commission. Dated: December 7, 2012. Rachel E. Dickon, Assistant Secretary. [FR Doc. 2012–30040 Filed 12–12–12; 8:45 am] BILLING CODE 6730–01–P FEDERAL MARITIME COMMISSION Ocean Transportation Intermediary License Reissuances The Commission gives notice that the following Ocean Transportation Intermediary licenses have been reissued pursuant to section 19 of the Shipping Act of 1984 (46 U.S.C. 40101) effective on the date shown. License No.: 021628F. Name: A & S Shipping Company, Inc. Address: 2759 NW. 82nd Avenue, Miami, FL 33122. Date Reissued: October 25, 2012. License No.: 022988N. Name: World Class Solutions LLC. Address: 3901 NW. 79th Avenue, Suite 230, Doral, FL 33166. Date Reissued: November 8, 2012. Vern W. Hill, Director, Bureau of Certification and Licensing. [FR Doc. 2012–30041 Filed 12–12–12; 8:45 am] BILLING CODE 6730–01–P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. AGENCY: PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 74187 Notice is hereby given of the final approval of a proposed information collection by the Board of Governors of the Federal Reserve System under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). 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 instrument(s) 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. FOR FURTHER INFORMATION CONTACT: 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. 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. Final approval under OMB delegated authority the implementation of the following information collection: Report title: Retail Payments Surveys. Agency form number: FR 3066a, b, c, and d. OMB control number: 7100–0351. 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 to collect the information called for by the FR 3066 series pursuant to sections SUMMARY: E:\FR\FM\13DEN1.SGM 13DEN1 srobinson on DSK4SPTVN1PROD with 74188 Federal Register / Vol. 77, No. 240 / Thursday, December 13, 2012 / Notices 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 § 609 (12 U.S.C. 4008). • Electronic Fund Transfer Act § 904 (15 U.S.C. 1693b) and § 920 (15 U.S.C. 1693o–2). • Truth in Lending Act § 105 (15 U.S.C. 1604). • The Check Clearing for the 21st Century Act § 15 (12 U.S.C. 5014). • Federal Reserve Act § 11 (Examinations and reports, Supervision over Reserve Banks, and Federal Reserve Note provisions, 12 U.S.C. 248); § 11A (Pricing of Services, 12 U.S.C. 248a); § 13 (FRB deposits and collections, 12 U.S.C. 342); and § 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- VerDate Mar<15>2010 16:21 Dec 12, 2012 Jkt 229001 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 voluntary Retail Payments Surveys are designed to collect information needed to support the Federal Reserve System’s role in the retail payments system.1 The FR 3066a and the FR 3066b 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 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 collects the volumes of bank customers’ cash withdrawals and deposits at retail branches, wholesale vaults, and automated teller machines (ATMs). The FR 3066b collects information on cash substitution, such as the distribution of low-value purchases made with noncash 1 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. PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 instruments and the loading of cash onto other payment instruments. The FR 3066c collects data from samples of individual checks obtained from a sample of depository institutions.2 The FR 3066d collects 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. In general, the FR3066a, b, and c surveys will be distributed in the first quarter of2013, and data collection will primarily take place during the second quarter 2013. Current Actions: On September 6, 2012, the Federal Reserve published a notice in the Federal Register (77 FR 54912) requesting public comment for 60 days on the implementation of the FR 3066a, b, c, and d. The comment period for this notice expired on November 5, 2012. The Federal Reserve received four comment letters addressing the proposed implementation of this information collection, which are summarized and addressed below. Summary Discussion of Public Comments and Responses The Federal Reserve received written comments from one financial institution, one merchant trade association, one payment card network, and one payment industry association. All commenters supported the data collection effort, and noted that the information is widely used by payment system participants as a benchmark and to gain insights into payment system trends. Commenters believed that providing the data requested in the surveys would generally not be burdensome to respondents. At the Federal Reserve’s request, contractors assisting with the survey design conducted industry outreach calls to obtain additional insights into the clarity of the survey forms and the feasibility of providing the requested data items. Institutions represented in the calls included financial institutions, networks, and processors of several types and sizes. The detailed discussion in this notice addresses the specific substantive issues that arose from the written comments 2 This survey is similar to the Check Sample Studies, part of the Federal Reserve Payments Study (FRPS), conducted by the Retail Payment Office (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. E:\FR\FM\13DEN1.SGM 13DEN1 Federal Register / Vol. 77, No. 240 / Thursday, December 13, 2012 / Notices and the industry outreach calls, and modifications to the surveys in response to the comments. In addition to the modifications discussed below, minor clarifications will be made to the surveys in response to the comments. Detailed Discussion of Public Comments and Response Depository and Financial Institution Payments Survey (FR 3066a) General Comments The Federal Reserve specifically requested comment on whether reporting data for March 2013 was more feasible and/or useful than reporting data for another period such as March and April 2013 combined. One commenter specifically noted that reducing the number of months of data from two consecutive months to one (as compared with the 2010 version of the survey) would simplify the response process, but have no substantial effect on the quality or validity of the data provided. If, as proposed, only March data were collected, another commenter urged the Federal Reserve to maintain comparability with previous surveys by accounting for the seasonality in card data when annualizing estimates from the survey. The Federal Reserve believes that the reduction in the complexity provided by reporting one month rather than two months of data will help maintain high response rates, and offset the increased complexity of the survey compared with the 2010 version, and will use the available information to ensure comparability with previous studies. The Federal Reserve plans to help respondents prepare for data submission by engaging a contractor to assist with several voluntary interactive survey training sessions where respondents will be invited to ask clarifying questions or discuss their own datareporting circumstances. Based on these sessions, the FR 3066 information collection will continue to be clarified and a frequently asked questions document will be developed. Section-by-Section Analysis of Substantive Comments srobinson on DSK4SPTVN1PROD with Customer Accounts This section contains questions about the number and value of transaction deposit accounts, prepaid card program accounts, and credit card accounts, as well as the number of debit, prepaid and credit cards outstanding. Some commenters noted that various sections of the survey would be distributed to several different business lines within their institution and, in order to more VerDate Mar<15>2010 16:21 Dec 12, 2012 Jkt 229001 readily associate the account and card data to the related transaction data, suggested that these questions be moved to account specific sections of the survey. The Federal Reserve will implement this suggestion. The Federal Reserve specifically requested comment on how institutions refer to ‘‘full service’’ transaction deposit accounts (e.g. checking accounts, debit card accounts, etc.) to distinguish them from prepaid card accounts. One commenter noted that the main distinguishing factor for prepaid versus full service is unlimited check writing ability on a full service account. Based on this comment and others, the Federal Reserve will clarify the definition of prepaid card accounts compared with other types of accounts. The Federal Reserve also specifically asked for comment on whether it is more feasible and/or useful to ask for the number of active cards outstanding or the number of accounts with recent card activity for credit card, debit card, and prepaid card accounts. Several commenters generally believed that it was most relevant to request the number of eligible and active cards outstanding rather than the number of accounts with cards outstanding. The Federal Reserve will modify the survey to request the number of ‘‘cards in force’’ and active cards for credit cards, debit cards, and prepaid cards. One commenter requested that information on the total number of cards in force with embedded chip technology would be valuable to the industry. The Federal Reserve will modify the survey to collect a count of the number of cards outstanding that have chip technology for credit cards, debit cards, and prepaid cards. The Federal Reserve specifically asked for comment on 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. One commenter suggested that the definition of an active card for debit and prepaid cards—which would include purchases, but not cash withdrawals—should be 30 days, while the credit card activity definition—which potentially would include purchases and balance transfers—should be 90 days due to the lower activity, in general, of credit cards. The Federal Reserve notes that the definition of an active card for debit, prepaid, and credit cards in this survey should be based on whether the card was used for a payment transaction (as defined in the survey form) during the 31-day survey period of March 2013. PO 00000 Frm 00026 Fmt 4703 Sfmt 4703 74189 This approach allows for consistency of definition across cards, and also allows for the calculation of the number of payments per active card during the survey period. Check Deposits Some commenters expressed interest in understanding the number and value of consumer checks deposited remotely via a mobile device and believed it was feasible to do so. The Federal Reserve will add ‘‘checks deposited via mobile device’’ and ‘‘other’’ as subsets of data under item 7a.1.1 ‘‘consumer client image capture’’ to allow the reporting of this item. However, similar additional subsets will not be requested for business/government or correspondent checks. ACH The Federal Reserve specifically requested comment on whether including a breakout of ACH volumes (number and value) into subcategories needed to identify interbank ACH payments would help to avoid doublecounting correspondent ACH volumes. Based on comments received, the Federal Reserve will add a check box question on whether the responding institution processes ACH payments for another institution. Outreach discussions raised a number of issues concerning the measurement of total ACH payments in the presence of several different practices involving the use of offset entries. In response, the Federal Reserve will add three check box questions to help account for and identify the prevalence of these different practices. Wire Transfers The Federal Reserve specifically requested comment on whether institutions can separate wire transfer origination volumes (number and value) by consumer and business/government customers. Some commenters stated that settlement transfers (including some ‘‘bank business’’ wires) would be included in the business wire category and should be listed in a separate subcategory. The Federal Reserve will include the subsets of ‘‘settlement’’ and ‘‘other’’ under business wire transfers. Some commenters noted that allocating wire transfers to consumer and business categories would be a manual process and subject to error (e.g., some financial institutions might categorize some small-business wires as consumer wires and others as business/ government wires). The Federal Reserve realizes that respondents’ ability to separate wires by type vary across institutions and will instruct E:\FR\FM\13DEN1.SGM 13DEN1 74190 Federal Register / Vol. 77, No. 240 / Thursday, December 13, 2012 / Notices respondents answer items they cannot measure as ‘‘not reportable’’ (‘‘NR’’). While some wires may be difficult for respondents to categorize, the responses in aggregate should provide a clearer measure of wire usage than what is currently available. The Federal Reserve also specifically requested comment on whether institutions can separate wire transfer origination volumes (number and value) between domestic and foreign wire transfers. No commenters suggested that such a separation would be infeasible or burdensome. In addition, some outreach discussions identified an interest in measuring consumer cross-border payments. To address this interest, the Federal Reserve will create subsets of ‘‘consumer’’ and ‘‘other’’ transactions under ‘‘foreign wire transfers.’’ Debit and Prepaid Cards One commenter stated that it could report cash back transactions for debit cards overall, but was not able to identify cash back from prepaid card transactions from other debit card transactions. The Federal Reserve will modify the survey so that respondents report cash back transactions for debit cards in the aggregate and enter NR in cases where data are unavailable. srobinson on DSK4SPTVN1PROD with Cash Industry outreach discussions identified an interest in the number of remote currency management terminals (‘‘smart safes’’) and the number and value of deposit transactions that are associated with them. The Federal Reserve will include a section on Currency Management Terminals with six quantitative data items to accommodate reporting of this information. These terminals are relatively rare but are becoming more prevalent in the currency management industry. Most respondents likely will not be involved with these new terminals, and will be able to just enter ‘‘0’’ for these new data items. Unauthorized Transactions (Third-party Fraud) The Federal Reserve specifically requested comment on whether institutions can report information on unauthorized transactions, as defined, or whether another definition of thirdparty fraud would be more feasible and/or useful to report. One commenter was interested in the collection of more details on the types of fraud, suggesting a collection of stratified fraud categories. In weighing the inclusion of a fraud category, the Federal Reserve tried to balance the value of detailed information against the burden and VerDate Mar<15>2010 16:21 Dec 12, 2012 Jkt 229001 feasibility of obtaining details on fraud. There are many ways to categorize fraud, and institutions follow differing methods of tracking it. While recognizing the importance of the other types of fraud (such as first-party fraud) which the survey does not measure, the Federal Reserve will not make any changes to this section, which quantifies one broad and important type of payment fraud. One commenter was concerned that the definition of ‘‘unauthorized payments’’ may not capture chargebacks, often initiated by the cardholder, and which may require payees or their agents to spend significant time and resources to validate the charge. While the Federal Reserve recognizes that the burden imposed by non-fraudulent chargebacks can be a significant concern for particular merchants, they do not necessarily constitute third-party fraud and should not be reported in this survey unless linked to an unauthorized transaction determined to be third-party fraud. Other surveys are designed to address some of these issues more fully and the Federal Reserve believes that this particular survey is not the proper forum to address chargebacks. Network, Processor, & Issuer Payments Surveys (FR 3066b) General Comments Based on an evaluation of written comments and information gathered from industry outreach calls, the Federal Reserve will modify the survey forms with several minor definitional and reorganizational changes. One change designed to ease the burden for certain items that may be unavailable are check boxes to allow respondents to indicate that the item is not tracked by the organization. Other general changes include revisions to create better consistency across forms. One commenter suggested using the definition of a ‘‘general-use prepaid card’’ of Regulation II to define a prepaid card account for the network surveys. The Federal Reserve will keep the surveys consistent with this basic definition where applicable. In addition, for private label prepaid cards which are not for general use or for other cards that may not be covered by Regulation II, the definitions will be adapted as appropriate to maintain consistency. One commenter requested that information be collected on the number and value of chargebacks and the number of cards outstanding that include chip technology. The Federal Reserve will add a field for the number and value of chargebacks as a subset of PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 ‘‘adjustments and returns’’ for the relevant card networks. In addition, the Federal Reserve will request a count of the number of cards outstanding that have chip technology in the appropriate surveys. The Federal Reserve specifically requested comment on whether card 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). One commenter noted that a particular network could report physical cash back from a bank teller or ATM, but could not report other types of cash advances. Industry outreach discussions with other networks reflected a similar position. Because it is the most feasible category, the Federal Reserve will revise the forms to ensure that physical cash back from ATMs and bank tellers may be reported as a separate line item for the relevant payment types. The Federal Reserve specifically requested comment on the most feasible and/or useful time period over which various payment instruments 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. The Federal Reserve will use the definition of active as cards with any transaction activity during the survey reference period (calendar year 2012) as proposed, for consistency with previous surveys. The Federal Reserve specifically requested comment on categorizations of payments that would be the most useful or feasible for respondents to report. Based on industry outreach discussions, the Federal Reserve will add one or two categorizations of payments (such as procurement and fleet card accounts under private-label credit card) to increase the clarity of the survey forms. In addition, the Federal Reserve would, in a few cases, adjust volume subcategories to ensure that the most relevant categories are included for each of the specific types of payments. In some cases this would mean the addition of a line item, and in others it would mean the removal of a line item. For example, in the case of the signature debit survey, a line item for ‘‘PINless debit (i.e., bill pay to a utility)’’ may be added. In another example, the line item for ‘‘cash back’’ may be removed from the general purpose credit card survey. In a further example, ‘‘direct send/ consolidator (i.e., Fiserv/CheckFree) E:\FR\FM\13DEN1.SGM 13DEN1 Federal Register / Vol. 77, No. 240 / Thursday, December 13, 2012 / Notices may be added to the online bill payment survey. Board of Governors of the Federal Reserve System, December 10, 2012. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2012–30094 Filed 12–12–12; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Savings and Loan Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and the Board’s Regulation LL (12 CFR Part 238) to acquire shares of a savings and loan holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than December 28, 2012. A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198–0001: 1. Ellen Records Morgan, Oklahoma City, Oklahoma; as co-trustee of the Martha E. Records 2009 GST Exempt Family Trust; the Martha E. Records 2009 Non-Exempt Family Trust; the Kathryn R. Ryan 2007 GST Exempt Family Trust; and the Kathryn R. Ryan 2007 Non-Exempt Family Trust, all of Oklahoma City, Oklahoma, to acquire voting shares of Midland Financial Co., and thereby indirectly acquire voting shares of MidFirst Bank, both in Oklahoma City, Oklahoma. Board of Governors of the Federal Reserve System, December 10, 2012. Margaret McCloskey Shanks, Deputy Secretary of the Board. srobinson on DSK4SPTVN1PROD with [FR Doc. 2012–30074 Filed 12–12–12; 8:45 am] BILLING CODE 6210–01–P ACTION: Notice of Proposals To Engage in Permissible Nonbanking Activities or To Acquire Companies That Are Engaged in Permissible Nonbanking Activities; Correction SUMMARY: This notice corrects a notice (FR Doc. 2012–29742) published on page 73467 of the issue for Monday, December 10, 2012. Under the Federal Reserve Bank of Richmond heading, the entry for Live Oak Bancshares, Inc., Wilmington, North Carolina, is revised to read as follows: A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23261–4528: 1. Live Oak Bancshares, Inc., Wilmington, North Carolina; to acquire 100 percent of the voting shares of Government Loan Solutions, Inc., Cleveland, Ohio, and engage in providing support services in connection with the settlement, accounting, and securitization processes for government guaranteed loans, including loans originated under the U.S. Small Business Administration loan programs and USDA loans; and thereby indirectly acquire 51 percent of the voting shares of Secondary Market Access, LLC, Cleveland, Ohio, and thereby engage in activities related to extending credit, investment advisory, management consulting, and data processing activities, pursuant to sections 225.28(b)(1); (b)(2), (b)(6); (b)(9), and (b)(14), all of Regulation Y. Comments on this application must be received by December 26, 2012. Board of Governors of the Federal Reserve System, December 10, 2012. Margaret McCloskey Shanks, Deputy Secretary of the Board. [FR Doc. 2012–30073 Filed 12–12–12; 8:45 am] BILLING CODE 6210–01–P GENERAL SERVICES ADMINISTRATION [OMB Control No. 3090–0297; Docket No. 2012–0001; Sequence 26] Information Collection; Proposed Collection; Comment Request; General Services Administration Acquisition Regulation; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery (GSA) General Services Administration (GSA). 16:21 Dec 12, 2012 Jkt 229001 Notice of a request for comments regarding an existing information collection. FEDERAL RESERVE SYSTEM AGENCY: VerDate Mar<15>2010 74191 PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 As part of a Federal Government wide effort to streamline the process to seek feedback from the public on service delivery, the General Services Administration (GSA) will be submitting a renewal to the Generic Information Collection Request (Generic ICR): ‘‘Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery’’ to OMB for approval under the Paperwork Reduction Act (PRA). Submit comments on or before February 11, 2013. DATES: Submit comments identified by Information Collection 3090–0297, Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery, by any of the following methods: • Regulations.gov: http:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching for ‘‘Information Collection 3090–0297’’, Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery. Select the link ‘‘Submit a Comment’’ that corresponds with ‘‘Information Collection 3090– 0297’’, Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery. Follow the instructions provided at the ‘‘Submit a Comment’’ screen. Please include your name, company name (if any), and ‘‘Information Collection 3090–0297’’ on your attached document. • Mail: General Services Administration, Regulatory Secretariat (MVCB), 1275 First Street NE., Washington, DC 20417. Attn: Hada Flowers/IC 3090–0297, Generic Clearance. Instructions: Please submit comments only and cite Information Collection 3090–0297, Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery, in all correspondence related to this collection. All comments received will be posted without change to http:// www.regulations.gov, including any personal and/or business confidential information provided. ADDRESSES: To request additional information, please contact General Services Administration, Regulatory Secretariat Division (MVCB), 1275 First Street NE., Washington, DC 20417; telephone (202)501–4755. FOR FURTHER INFORMATION CONTACT: SUPPLEMENTARY INFORMATION: E:\FR\FM\13DEN1.SGM 13DEN1

Agencies

[Federal Register Volume 77, Number 240 (Thursday, December 13, 2012)]
[Notices]
[Pages 74187-74191]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-30094]


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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: Notice is hereby given of the final approval of a proposed 
information collection by the Board of Governors of the Federal Reserve 
System under OMB delegated authority, as per 5 CFR 1320.16 (OMB 
Regulations on Controlling Paperwork Burdens on the Public). 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 instrument(s) 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.

FOR FURTHER INFORMATION CONTACT: 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.
    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.
    Final approval under OMB delegated authority the implementation of 
the following information collection:
    Report title: Retail Payments Surveys.
    Agency form number: FR 3066a, b, c, and d.
    OMB control number: 7100-0351.
    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 to collect the information called for by the FR 3066 series 
pursuant to sections

[[Page 74188]]

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 Sec.  609 (12 U.S.C. 
4008).
     Electronic Fund Transfer Act Sec.  904 (15 U.S.C. 1693b) 
and Sec.  920 (15 U.S.C. 1693o-2).
     Truth in Lending Act Sec.  105 (15 U.S.C. 1604).
     The Check Clearing for the 21st Century Act Sec.  15 (12 
U.S.C. 5014).
     Federal Reserve Act Sec.  11 (Examinations and reports, 
Supervision over Reserve Banks, and Federal Reserve Note provisions, 12 
U.S.C. 248); Sec.  11A (Pricing of Services, 12 U.S.C. 248a); Sec.  13 
(FRB deposits and collections, 12 U.S.C. 342); and Sec.  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 voluntary Retail Payments Surveys are designed to 
collect information needed to support the Federal Reserve System's role 
in the retail payments system.\1\ The FR 3066a and the FR 3066b 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 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 collects the 
volumes of bank customers' cash withdrawals and deposits at retail 
branches, wholesale vaults, and automated teller machines (ATMs). The 
FR 3066b collects 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.
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    \1\ 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.
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    The FR 3066c collects data from samples of individual checks 
obtained from a sample of depository institutions.\2\ The FR 3066d 
collects 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.
---------------------------------------------------------------------------

    \2\ This survey is similar to the Check Sample Studies, part of 
the Federal Reserve Payments Study (FRPS), conducted by the Retail 
Payment Office (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.
---------------------------------------------------------------------------

    In general, the FR3066a, b, and c surveys will be distributed in 
the first quarter of2013, and data collection will primarily take place 
during the second quarter 2013.
    Current Actions: On September 6, 2012, the Federal Reserve 
published a notice in the Federal Register (77 FR 54912) requesting 
public comment for 60 days on the implementation of the FR 3066a, b, c, 
and d. The comment period for this notice expired on November 5, 2012. 
The Federal Reserve received four comment letters addressing the 
proposed implementation of this information collection, which are 
summarized and addressed below.

Summary Discussion of Public Comments and Responses

    The Federal Reserve received written comments from one financial 
institution, one merchant trade association, one payment card network, 
and one payment industry association. All commenters supported the data 
collection effort, and noted that the information is widely used by 
payment system participants as a benchmark and to gain insights into 
payment system trends. Commenters believed that providing the data 
requested in the surveys would generally not be burdensome to 
respondents.
    At the Federal Reserve's request, contractors assisting with the 
survey design conducted industry outreach calls to obtain additional 
insights into the clarity of the survey forms and the feasibility of 
providing the requested data items. Institutions represented in the 
calls included financial institutions, networks, and processors of 
several types and sizes.
    The detailed discussion in this notice addresses the specific 
substantive issues that arose from the written comments

[[Page 74189]]

and the industry outreach calls, and modifications to the surveys in 
response to the comments. In addition to the modifications discussed 
below, minor clarifications will be made to the surveys in response to 
the comments.

Detailed Discussion of Public Comments and Response

Depository and Financial Institution Payments Survey (FR 3066a)

General Comments
    The Federal Reserve specifically requested comment on whether 
reporting data for March 2013 was more feasible and/or useful than 
reporting data for another period such as March and April 2013 
combined. One commenter specifically noted that reducing the number of 
months of data from two consecutive months to one (as compared with the 
2010 version of the survey) would simplify the response process, but 
have no substantial effect on the quality or validity of the data 
provided. If, as proposed, only March data were collected, another 
commenter urged the Federal Reserve to maintain comparability with 
previous surveys by accounting for the seasonality in card data when 
annualizing estimates from the survey. The Federal Reserve believes 
that the reduction in the complexity provided by reporting one month 
rather than two months of data will help maintain high response rates, 
and offset the increased complexity of the survey compared with the 
2010 version, and will use the available information to ensure 
comparability with previous studies.
    The Federal Reserve plans to help respondents prepare for data 
submission by engaging a contractor to assist with several voluntary 
interactive survey training sessions where respondents will be invited 
to ask clarifying questions or discuss their own data-reporting 
circumstances. Based on these sessions, the FR 3066 information 
collection will continue to be clarified and a frequently asked 
questions document will be developed.
Section-by-Section Analysis of Substantive Comments

Customer Accounts

    This section contains questions about the number and value of 
transaction deposit accounts, prepaid card program accounts, and credit 
card accounts, as well as the number of debit, prepaid and credit cards 
outstanding. Some commenters noted that various sections of the survey 
would be distributed to several different business lines within their 
institution and, in order to more readily associate the account and 
card data to the related transaction data, suggested that these 
questions be moved to account specific sections of the survey. The 
Federal Reserve will implement this suggestion.
    The Federal Reserve specifically requested comment on how 
institutions refer to ``full service'' transaction deposit accounts 
(e.g. checking accounts, debit card accounts, etc.) to distinguish them 
from prepaid card accounts. One commenter noted that the main 
distinguishing factor for prepaid versus full service is unlimited 
check writing ability on a full service account. Based on this comment 
and others, the Federal Reserve will clarify the definition of prepaid 
card accounts compared with other types of accounts.
    The Federal Reserve also specifically asked for comment on whether 
it is more feasible and/or useful to ask for the number of active cards 
outstanding or the number of accounts with recent card activity for 
credit card, debit card, and prepaid card accounts. Several commenters 
generally believed that it was most relevant to request the number of 
eligible and active cards outstanding rather than the number of 
accounts with cards outstanding. The Federal Reserve will modify the 
survey to request the number of ``cards in force'' and active cards for 
credit cards, debit cards, and prepaid cards.
    One commenter requested that information on the total number of 
cards in force with embedded chip technology would be valuable to the 
industry. The Federal Reserve will modify the survey to collect a count 
of the number of cards outstanding that have chip technology for credit 
cards, debit cards, and prepaid cards.
    The Federal Reserve specifically asked for comment on 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. One commenter suggested that the definition of an 
active card for debit and prepaid cards--which would include purchases, 
but not cash withdrawals--should be 30 days, while the credit card 
activity definition--which potentially would include purchases and 
balance transfers--should be 90 days due to the lower activity, in 
general, of credit cards. The Federal Reserve notes that the definition 
of an active card for debit, prepaid, and credit cards in this survey 
should be based on whether the card was used for a payment transaction 
(as defined in the survey form) during the 31-day survey period of 
March 2013. This approach allows for consistency of definition across 
cards, and also allows for the calculation of the number of payments 
per active card during the survey period.

Check Deposits

    Some commenters expressed interest in understanding the number and 
value of consumer checks deposited remotely via a mobile device and 
believed it was feasible to do so. The Federal Reserve will add 
``checks deposited via mobile device'' and ``other'' as subsets of data 
under item 7a.1.1 ``consumer client image capture'' to allow the 
reporting of this item. However, similar additional subsets will not be 
requested for business/government or correspondent checks.

ACH

    The Federal Reserve specifically requested comment on whether 
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. Based on comments 
received, the Federal Reserve will add a check box question on whether 
the responding institution processes ACH payments for another 
institution.
    Outreach discussions raised a number of issues concerning the 
measurement of total ACH payments in the presence of several different 
practices involving the use of offset entries. In response, the Federal 
Reserve will add three check box questions to help account for and 
identify the prevalence of these different practices.

Wire Transfers

    The Federal Reserve specifically requested comment on whether 
institutions can separate wire transfer origination volumes (number and 
value) by consumer and business/government customers. Some commenters 
stated that settlement transfers (including some ``bank business'' 
wires) would be included in the business wire category and should be 
listed in a separate subcategory. The Federal Reserve will include the 
subsets of ``settlement'' and ``other'' under business wire transfers.
    Some commenters noted that allocating wire transfers to consumer 
and business categories would be a manual process and subject to error 
(e.g., some financial institutions might categorize some small-business 
wires as consumer wires and others as business/government wires). The 
Federal Reserve realizes that respondents' ability to separate wires by 
type vary across institutions and will instruct

[[Page 74190]]

respondents answer items they cannot measure as ``not reportable'' 
(``NR''). While some wires may be difficult for respondents to 
categorize, the responses in aggregate should provide a clearer measure 
of wire usage than what is currently available.
    The Federal Reserve also specifically requested comment on whether 
institutions can separate wire transfer origination volumes (number and 
value) between domestic and foreign wire transfers. No commenters 
suggested that such a separation would be infeasible or burdensome. In 
addition, some outreach discussions identified an interest in measuring 
consumer cross-border payments. To address this interest, the Federal 
Reserve will create subsets of ``consumer'' and ``other'' transactions 
under ``foreign wire transfers.''

Debit and Prepaid Cards

    One commenter stated that it could report cash back transactions 
for debit cards overall, but was not able to identify cash back from 
prepaid card transactions from other debit card transactions. The 
Federal Reserve will modify the survey so that respondents report cash 
back transactions for debit cards in the aggregate and enter NR in 
cases where data are unavailable.

Cash

    Industry outreach discussions identified an interest in the number 
of remote currency management terminals (``smart safes'') and the 
number and value of deposit transactions that are associated with them. 
The Federal Reserve will include a section on Currency Management 
Terminals with six quantitative data items to accommodate reporting of 
this information. These terminals are relatively rare but are becoming 
more prevalent in the currency management industry. Most respondents 
likely will not be involved with these new terminals, and will be able 
to just enter ``0'' for these new data items.

Unauthorized Transactions (Third-party Fraud)

    The Federal Reserve specifically requested 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. One commenter was interested in 
the collection of more details on the types of fraud, suggesting a 
collection of stratified fraud categories. In weighing the inclusion of 
a fraud category, the Federal Reserve tried to balance the value of 
detailed information against the burden and feasibility of obtaining 
details on fraud. There are many ways to categorize fraud, and 
institutions follow differing methods of tracking it. While recognizing 
the importance of the other types of fraud (such as first-party fraud) 
which the survey does not measure, the Federal Reserve will not make 
any changes to this section, which quantifies one broad and important 
type of payment fraud.
    One commenter was concerned that the definition of ``unauthorized 
payments'' may not capture chargebacks, often initiated by the 
cardholder, and which may require payees or their agents to spend 
significant time and resources to validate the charge. While the 
Federal Reserve recognizes that the burden imposed by non-fraudulent 
chargebacks can be a significant concern for particular merchants, they 
do not necessarily constitute third-party fraud and should not be 
reported in this survey unless linked to an unauthorized transaction 
determined to be third-party fraud. Other surveys are designed to 
address some of these issues more fully and the Federal Reserve 
believes that this particular survey is not the proper forum to address 
chargebacks.

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

General Comments
    Based on an evaluation of written comments and information gathered 
from industry outreach calls, the Federal Reserve will modify the 
survey forms with several minor definitional and reorganizational 
changes. One change designed to ease the burden for certain items that 
may be unavailable are check boxes to allow respondents to indicate 
that the item is not tracked by the organization. Other general changes 
include revisions to create better consistency across forms.
    One commenter suggested using the definition of a ``general-use 
prepaid card'' of Regulation II to define a prepaid card account for 
the network surveys. The Federal Reserve will keep the surveys 
consistent with this basic definition where applicable. In addition, 
for private label prepaid cards which are not for general use or for 
other cards that may not be covered by Regulation II, the definitions 
will be adapted as appropriate to maintain consistency.
    One commenter requested that information be collected on the number 
and value of chargebacks and the number of cards outstanding that 
include chip technology. The Federal Reserve will add a field for the 
number and value of chargebacks as a subset of ``adjustments and 
returns'' for the relevant card networks. In addition, the Federal 
Reserve will request a count of the number of cards outstanding that 
have chip technology in the appropriate surveys.
    The Federal Reserve specifically requested comment on whether card 
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). One commenter noted that a particular network could report 
physical cash back from a bank teller or ATM, but could not report 
other types of cash advances. Industry outreach discussions with other 
networks reflected a similar position. Because it is the most feasible 
category, the Federal Reserve will revise the forms to ensure that 
physical cash back from ATMs and bank tellers may be reported as a 
separate line item for the relevant payment types.
    The Federal Reserve specifically requested comment on the most 
feasible and/or useful time period over which various payment 
instruments 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. The Federal Reserve will use the 
definition of active as cards with any transaction activity during the 
survey reference period (calendar year 2012) as proposed, for 
consistency with previous surveys.
    The Federal Reserve specifically requested comment on 
categorizations of payments that would be the most useful or feasible 
for respondents to report. Based on industry outreach discussions, the 
Federal Reserve will add one or two categorizations of payments (such 
as procurement and fleet card accounts under private-label credit card) 
to increase the clarity of the survey forms. In addition, the Federal 
Reserve would, in a few cases, adjust volume subcategories to ensure 
that the most relevant categories are included for each of the specific 
types of payments. In some cases this would mean the addition of a line 
item, and in others it would mean the removal of a line item. For 
example, in the case of the signature debit survey, a line item for 
``PINless debit (i.e., bill pay to a utility)'' may be added. In 
another example, the line item for ``cash back'' may be removed from 
the general purpose credit card survey. In a further example, ``direct 
send/consolidator (i.e., Fiserv/CheckFree)

[[Page 74191]]

may be added to the online bill payment survey.

    Board of Governors of the Federal Reserve System, December 10, 
2012.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2012-30094 Filed 12-12-12; 8:45 am]
BILLING CODE 6210-01-P