Proposed Agency Information Collection Activities; Comment Request, 77680-77684 [2013-30641]
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different types of bank and non-bank
financial services. Interviews of
financial services providers are
intended to provide greater insight into
the providers’ perceptions of the
opportunities and challenges of
providing an array of financial services
and products. These qualitative
methods will also provide an
opportunity to test and improve other
survey efforts conducted by the FDIC.
For instance, it could help identify
specific financial services and
terminology used by consumers and
financial industry professionals to
improve FDIC’s economic inclusion
survey instruments (OMB Control Nos.
3064–0158 and 3064–0167). The FDIC
does not intend to use qualitative
research to measure or quantify results.
Participation in this information
collection will be voluntary and
conducted in-person, by phone, or using
other methods, such as virtual
technology. The FDIC plans to retain an
experienced contractor(s) to recommend
the most appropriate collection method
based on the objectives of each
qualitative research effort. It is likely
that each qualitative research effort will
include a short intake form (1 or 2 pages
long). The FDIC will consult with OMB
regarding each specific information
collection during the approval period.
This voluntary collection of information
will put a slight burden on a very small
percentage of the public. The FDIC
estimates that, over the three year
clearance period of this request, it may
conduct annually up to 50 focus groups,
110 one-on-one in-person or phone
interviews, four cognitive testing
sessions, and one virtual survey for a
variety of projects associated with
financial services.
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Request for Comment
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the FDIC’s functions, including whether
the information has practical utility; (b)
the accuracy of the estimates of the
burden of the information collection,
including the validity of the
methodology and assumptions used; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the information collection on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
All comments will become a matter of
public record.
Dated at Washington, DC, this 19th day of
December, 2013.
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Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2013–30617 Filed 12–23–13; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL RESERVE SYSTEM
Proposed Agency Information
Collection Activities; Comment
Request
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), pursuant to 5 CFR
1320.16, to approve of and assign OMB
control numbers to collection of
information requests and requirements
conducted or sponsored by the Board
under conditions set forth in 5 CFR part
1320 Appendix A.1. Board-approved
collections of information are
incorporated into the official OMB
inventory of currently approved
collections of information. Copies of the
Paperwork Reduction Act Submission,
supporting statements and approved
collection of information instruments
are placed into OMB’s public docket
files. The Federal Reserve may not
conduct or sponsor, and the respondent
is not required to respond to, an
information collection that has been
extended, revised, or implemented on or
after October 1, 1995, unless it displays
a currently valid OMB control number.
DATES: Comments must be submitted on
or before February 24, 2014.
ADDRESSES: You may submit comments,
identified by FR 1378 or FR 3073, by
any of the following methods:
• Agency Web site: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• 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 https://
AGENCY:
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www.federalreserve.gov/apps/foia/
proposedregs.aspx 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 9:00 a.m. and 5:00
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: 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/apps/
reportforms/review.aspx or may be
requested from the agency clearance
officer, whose name appears below.
Federal Reserve Board Clearance
Officer—Cynthia Ayouch—Office of the
Chief Data Officer, 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 Proposals
The following information
collections, which are being handled
under this delegated authority, have
received initial Board approval and are
hereby published for comment. At the
end of the comment period, the
proposed information collections, along
with an analysis of comments and
recommendations received, will be
submitted to the Board for final
approval under OMB delegated
authority. Comments are invited on the
following:
a. Whether the proposed collection of
information is necessary for the proper
performance of the Federal Reserve’s
functions; including whether the
information has practical utility;
b. The accuracy of the Federal
Reserve’s estimate of the burden of the
proposed information collection,
including the validity of the
methodology and assumptions used;
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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 Collections
1. Report title: Surveys of Consumer
and Community Affairs Publications
and Resources.
Agency form number: FR 1378.
OMB control number: 7,100—to be
assigned.
Frequency: On occasion.
Reporters: Individuals, households,
nonprofits, community development
organizations, consumer groups,
financial institutions and other financial
companies offering consumer financial
products and services, other for profit
companies, state or local agencies, and
researchers from academic, government,
policy and other institutions.
Estimated annual reporting hours:
2,300 hours.
Estimated average hours per response:
Consumer surveys: quantitative
surveys, 0.25 hours; qualitative surveys,
1.5 hours.
Stakeholder surveys: quantitative
surveys, 0.25 hours; qualitative surveys,
1.5 hours.
Number of respondents:
Consumer surveys: quantitative
surveys, 1,000; qualitative surveys, 50.
Stakeholder surveys: quantitative
surveys, 800; qualitative surveys, 50.
General description of report: This
information collection is generally
authorized under sections 2A and 12A
of the Federal Reserve Act. Section 2A
requires that the Board of Governors of
the Federal Reserve System and the
Federal Open Market Committee
(FOMC) maintain long run growth of the
monetary and credit aggregates
commensurate with the economy’s long
run potential to increase production, so
as to promote effectively the goals of
maximum employment, stable prices,
and moderate long-term interest rates.
12 U.S.C. 225a. In addition, under
section 12A of the Federal Reserve Act,
the FOMC is required to implement
regulations relating to the open market
operations conducted by Federal
Reserve Banks with a view to
accommodating commerce and business
and with regard to the regulations’
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bearing upon the general credit situation
of the country. 12 U.S.C. 263. The
authority of the Federal Reserve to
collect information to carry out the
requirements of these provisions is
implicit. Accordingly, the Federal
Reserve is authorized to collect the
information called for by the FR 1378 by
sections 2A and 12A of the Federal
Reserve Act.
In addition, the Board is responsible
for implementing and drafting
regulations and interpretations for
various consumer protection laws. The
information obtained from the FR 1378
may be used in support of the Board’s
development and implementation of
regulatory provisions for these laws.
Therefore, depending on the survey
questions asked, the FR1378 may be
authorized pursuant to the Board’s
authority under one or more of the
following consumer protection statutes:
• Community Reinvestment Act, (12
U.S.C. 2905);
• Competitive Equality Banking Act,
(12 U.S.C. 3806);
• Expedited Funds Availability Act,
(12 U.S.C. 4008);
• Truth in Lending Act, (15 U.S.C.
1604); 1
• Fair Credit Reporting Act, (15
U.S.C. 1681s(e)); 2
• Equal Credit Opportunity Act, (15
U.S.C. 1691b); 3
• Electronic Funds Transfer Act, (15
U.S.C. 1693b & 1693o–2); 4
• Gramm-Leach-Bliley Act, (15 U.S.C.
6801(b)); 5 and
• Flood Disaster Protection Act of
1973, Section 102 (42 U.S.C. 4012a).
Participation in the FR 1378 is
voluntary and the information collected
on these surveys is not considered
confidential. Access to contact
1 Although the Dodd-Frank Act (DFA) cut back
the Board’s authority under the Truth in Lending
Act, the Board retains rule writing authority for
implementing regulations with respect to auto
dealers. DFA § 1100A(7).
2 Although the DFA cut back the Board’s
authority under the Fair Credit Reporting Act, the
Board retains rule writing authority for red flags,
address changes, and disposal of records. DFA
§§ 1002(12)(F) and 1088(a)(2)(D).
3 Although the DFA cut back the Board’s
authority under the Equal Credit Opportunity Act,
the Board retains rule writing authority for
implementing regulations with respect to auto
dealers. DFA § 1085(3).
4 Although the DFA cut back the Board’s
authority under the Electronic Fund Transfers Act,
the Board retains rule writing authority for
interchange fee regulations and authority to
implement regulations with respect to auto dealers.
DFA §§ 1075 & 1084.
5 Although the DFA cut back the Board’s
authority under the Gramm-Leach-Bliley Act, the
Board maintains the authority to establish
appropriate standards for the financial institutions
relating to administrative, technical and physical
safeguards for certain customer records and
information. DFA § 1002(12).
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information which is considered
Personally Identifying Information (PII)
is typically necessary to recruit
respondents for the consumer and
stakeholder surveys in this collection.
Any PII used in recruiting respondents
for these surveys would be handled in
accordance with Board procedures.
Abstract: The Federal Reserve Board
would use the FR 1378 surveys to seek
input from users or potential users of its
publications and resources to
understand their interests and needs; to
inform decisions concerning content,
design, and dissemination strategies; to
gauge public awareness of its
publications and resources; and to
assess the effectiveness of its
communications with various
respondents.
Qualitative surveys would include
data gathering methods such as focus
groups and individual interviews.
Quantitative surveys would include
surveys conducted online or via mobile
device, by phone, or by mail, or a
combination of these methods. The
Federal Reserve may choose to contract
with an outside vendor to conduct focus
groups, interviews, or surveys, or may
choose to collect the data directly. The
Federal Reserve may also work with
outside parties when appropriate to
identify potential respondents (e.g.
networks of community groups or
researchers) and to collect data.
As the Federal Reserve’s publications
and resources continue to evolve, the
Federal Reserve may seek input from
users or potential users of our
publications on questions such as:
• Was the content relevant and of
value?
• Was the length and nature of the
discussion appropriate and useful for
this topic?
• How did the reader access the
publication or other content—in hard
copy distributed at an event, online, or
using a mobile device? If online or
through a mobile device, was the
document printed for reading, read on a
tablet or other e-reader, or read on a
computer screen?
• Could the Federal Reserve improve
the format and appearance of the print
or electronic presentation? This could
include the readability of type size or of
charts and graphs; organization of
information; and ease of locating
information through indexing, search
tools, and links.
• Was the reader able to use the
information to inform their work?
The frequency of the surveys and
content of the questions would vary as
needs arise for feedback on different
resources and from different audiences.
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2. Report title: Consumer and
Stakeholder Surveys.
Agency form number: FR 3073.
OMB control number: 7,100—to be
assigned.
Frequency: Quarterly, annually, and
on occasion.
Reporters: Individuals, households,
community groups, community
development organizations, non-profit
service providers, faith-based service
organizations, public sector agencies,
small business owners, health care
organizations, food banks, K–12 public
and private schools, community
colleges, community development
financial institutions, credit unions,
banks, and other financial institutions
and companies offering financial
products and services.
Estimated annual reporting hours:
10,700 hours.
Estimated average hours per response:
Consumer surveys: Quantitative
surveys (medium), 0.25 hours;
Quantitative surveys (large), .40 hours;
Qualitative surveys, 1.5 hours.
Stakeholder surveys: Quantitative
surveys, 0.25 hours; Qualitative surveys,
1.5 hours.
Number of respondents:
Consumer surveys: Quantitative
surveys (medium), 2,500; Quantitative
surveys (large), 5,000; Qualitative
surveys, 50.
Stakeholder surveys: Quantitative
surveys, 1,500; Qualitative surveys, 50.
General description of report: This
information collection is generally
authorized under sections 2A and 12A
of the Federal Reserve Act. Section 2A
requires that the Board of Governors of
the Federal Reserve System and the
FOMC maintain long run growth of the
monetary and credit aggregates
commensurate with the economy’s long
run potential to increase production, so
as to promote effectively the goals of
maximum employment, stable prices,
and moderate long-term interest rates.
12 U.S.C. 225a. In addition, under
section 12A of the Federal Reserve Act,
the FOMC is required to implement
regulations relating to the open market
operations conducted by Federal
Reserve Banks with a view to
accommodating commerce and business
and with regard to the regulations’
bearing upon the general credit situation
of the country. 12 U.S.C. 263. The
authority of the Federal Reserve to
collect information to carry out the
requirements of these provisions is
implicit. Accordingly, the Federal
Reserve is authorized to collect the
information called for by the FR 3073 by
sections 2A and 12A of the Federal
Reserve Act.
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The Board is responsible for
implementing and drafting regulations
and interpretations for various
consumer protection laws. The
information obtained from the FR 3073
may be used in support of the Board’s
development and implementation of
regulatory provisions for these laws.
Therefore, depending on the survey
questions asked, the FR 3073 may be
authorized pursuant to the Board’s
authority under one or more of the
following consumer protection statutes:
• Community Reinvestment Act, (12
U.S.C. 2905);
• Competitive Equality Banking Act,
(12 U.S.C. 3806);
• Expedited Funds Availability Act,
(12 U.S.C. 4008);
• Truth in Lending Act, (15 U.S.C.
1604); 6
• Fair Credit Reporting Act, (15
U.S.C. 1681s(e)); 7
• Equal Credit Opportunity Act, (15
U.S.C. 1691b); 8
• Electronic Funds Transfer Act, (15
U.S.C. 1693b & 1693o–2); 9
• Gramm-Leach-Bliley Act, (15 U.S.C.
6801(b)); 10 and
• Flood Disaster Protection Act of
1973, Section 102 (42 U.S.C. 4012a).
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
Edge and agreement corporations under
section 25 and 25A of the Federal
Reserve Act (12 U.S.C. 602 and 625);
6 Although the Dodd-Frank Act (DFA) cut back
the Board’s authority under the Truth in Lending
Act, the Board retains rule writing authority for
implementing regulations with respect to auto
dealers. DFA § 1100A(7).
7 Although the DFA cut back the Board’s
authority under the Fair Credit Reporting Act, the
Board retains rule writing authority for red flags,
address changes, and disposal of records. DFA
§§ 1002(12)(F) and 1088(a)(2)(D).
8 Although the DFA cut back the Board’s
authority under the Equal Credit Opportunity Act,
the Board retains rule writing authority for
implementing regulations with respect to auto
dealers. DFA § 1085(3).
9 Although the DFA cut back the Board’s
authority under the Electronic Fund Transfers Act,
the Board retains rule writing authority for
interchange fee regulations and authority to
implement regulations with respect to auto dealers.
DFA §§ 1075 & 1084.
10 Although the DFA cut back the Board’s
authority under the Gramm-Leach-Bliley Act, the
Board maintains the authority to establish
appropriate standards for the financial institutions
relating to administrative, technical and physical
safeguards for certain customer records and
information. DFA § 1002(12).
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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)).
Participation in the FR 3073 is
voluntary. The ability of the Federal
Reserve to maintain the confidentiality
of information provided by respondents
to the FR 3073 surveys will have to be
determined on a case by case basis
depending on the type of information
provided for a particular survey. Some
of the information collected on the
surveys may be protected from Freedom
of Information Act (FOIA) disclosure by
FOIA exemptions 4 and 6. Exemption 4
protects from disclosure trade secrets
and commercial or financial
information, while Exemption 6 protects
information ‘‘the disclosure of which
would constitute a clearly unwarranted
invasion of personal privacy.’’ See 5
U.S.C. 552(b)(4) and (6).
Access to contact information which
is considered PII is typically necessary
to recruit respondents for the consumer
and stakeholder surveys in this
collection. Any PII used in recruiting
respondents for these surveys would be
handled in accordance with Board
procedures. Outside vendors who
conduct consumer surveys under
contract with the Board remove PII
before providing survey data to the
Board. Consumer survey data, whether
collected by an outside vendor or by the
Board, would be collected for research
purposes only and any identifying
information on respondents would be
removed before any data is publicly
released.
Abstract: The Federal Reserve would
use the FR 3073 surveys to gather
quantitative and qualitative information
directly from individual consumers or
households (consumer surveys) on
consumer finance topics. This collection
also would be used to gather
quantitative and qualitative information
on current and emerging community
economic issues from stakeholders
(stakeholder surveys). The Federal
Reserve would use this collection to
inform consumer-focused supervision,
research, and policy analysis;
implement statutory requirements; and
facilitate community development. The
surveys in this collection would inform
the Federal Reserve’s work by
identifying emerging risks and
providing additional data on the issues
that affect the well-being of consumers
and communities and the function of
the market for financial services.
Topics explored in quantitative and
qualitative consumer surveys are likely
to vary over time, although some topics
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may be repeated. Surveys may relate to
various aspects of consumer financial
knowledge, attitudes, and behavior, and
may inform understanding of changes in
the markets for consumer financial
services, including changes stemming
from regulatory or legislative
developments as well as from changes
in technology and business practices.
Some surveys may be needed to address
issues of immediate concern, and such
issues may not be anticipated in
advance. Examples of topics for
consumer surveys may include:
• Use of financial products and
services;
• Use of technology and various
service delivery channels;
• Ability to notice, comprehend, and
use disclosures,
• Ability to comprehend terms of
credit or account agreements;
• Preferences about the delivery of
information (content, format, timing,
and method);
• Comprehension of particular
deliveries of information (electronic and
paper media);
• Abilities to use a particular method
of delivery, such as web-based
disclosures;
• Sources and incidence of financial
stress, and resources for coping with
adverse shocks;
• Behaviors related to searching,
shopping, and negotiating for credit or
asset purchases;
• Financial planning, borrowing,
investment, and insurance decisions;
• Financial knowledge, attitudes, and
advice-seeking behaviors; and
• Human capital investment
decisions and labor market outcomes.
For the quantitative consumer
surveys, the Federal Reserve would
typically contract with an outside
vendor to collect the data.
For surveys administered via an
outside vendor, the Federal Reserve
would design the survey and draft the
survey questions in consultation with
the vendor. The questions asked on any
given survey would be specific to the
particular topic of interest. Some
questions may be repeated in
subsequent surveys, but others may be
asked on a single survey. The firm
would be responsible for testing the
survey procedures, following the
sampling protocol and conducting the
survey as specified by the Federal
Reserve, preparing data files containing
the responses, computing analysis
weights, and documenting all survey
procedures. Data editing and analysis of
the results may be conducted either
solely by the Federal Reserve and any
research partner or jointly with the firm
depending on the needs of the project.
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The number of respondents to any
given survey would vary depending on
the purpose of the survey and the
sample size needed to obtain
statistically valid results. The Federal
Reserve anticipates fielding up to two
large surveys each year and four
medium (in sample size and survey time
length) surveys focused on particular
topics for which data needs have arisen.
Qualitative surveys with consumers
such as focus groups and interviews
may be conducted on a variety of topics,
either as a standalone study or as a
complement to a quantitative study as a
part of a larger project. Formal or
informal qualitative surveys may be
conducted by the Federal Reserve and
any outside partners collaborating with
the Federal Reserve. They also may be
conducted through a private contractor,
which would be chosen in a competitive
bidding process or other acceptable
negotiated process. The research
instruments may be developed by the
Federal Reserve and any research
partner or jointly with the contractor
working on behalf of the Board. As
necessary, the contractor may be
responsible for testing the study
procedures, following the sampling
protocol established by the Federal
Reserve, conducting the study as
specified by the Federal Reserve,
collecting and coding responses, and
documenting all procedures. Data
editing and analysis of the results may
be conducted either by the Federal
Reserve and any research partner, by the
contractor, or some combination of
these depending on the project.
The number of respondents to any
given qualitative survey would also vary
depending on the purpose of the survey
and the number of respondents needed
to provide a range of viewpoints. FR
3073 would enable the Federal Reserve
to conduct up eight qualitative surveys
each year with about 50 respondents per
survey. For example, a qualitative
survey could include several focus
groups on a particular topic for which
data needs have arisen.
The stakeholder surveys would be
used to gather quantitative and
qualitative information directly from
stakeholders (stakeholder surveys).
Stakeholders may include, for example,
such organizations as community
groups, community development
organizations, non-profit service
providers, faith-based service
organizations, public sector agencies,
small business owners, health care
organizations, food banks, K–12 public
and private schools, community
colleges community development
financial institutions, credit unions,
banks, and other financial institutions
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and companies offering financial
products and services. Before initiating
a new survey, the Federal Reserve
would determine if the information to
be collected is available by other means
or sources within the Federal Reserve
System to avoid imposing additional
burden on stakeholders.
Quantitative surveys would initially
be collected in partnership with an
intermediary working with communitybased nonprofits to gather responses
from their affiliates and grantees on a
voluntary basis. Quarterly invitations to
complete the survey would be emailed
to stakeholders. The surveys would be
administered through a web-based
platform and capture trends
(information over time) as well as
geographical dispersion (representative
coverage of all 12 Reserve Bank
districts). The Federal Reserve would
continue to explore other avenues for
collecting data from community
stakeholders, including building a
national stakeholder sampling frame.
The survey questions would include
current and emerging community
economic issues including job
availability, access to affordable rental
housing, access to credit, and non-profit
organizational capacity to meet
community demands for services. Some
topics would be covered each quarter,
while others may be included less
frequently. The Federal Reserve
anticipates fielding up to eight
quantitative stakeholder surveys each
year, although surveys may not be
conducted that frequently.
As with the consumer surveys
described above, formal or informal
qualitative surveys with stakeholders
would be conducted by the Federal
Reserve and any outside partners
collaborating with the Board. Such
surveys may also be conducted through
a private contractor. Topics for
qualitative surveys may vary and may
include new issues of concern for
stakeholders or communities, or
exploring an ongoing area of focus in
more depth. Such methods could also
be used for testing and developing the
wording of survey questions, and
complementing a quantitative survey in
a mixed method research design.
The number of respondents to any
given qualitative stakeholder survey
would vary depending on the purpose
of the survey and the number of
respondents needed to provide a range
of viewpoints. FR 3073 would enable
the Federal Reserve to conduct up to
eight qualitative surveys each year with
about 50 respondents per survey. For
example, a qualitative survey could
include several focus groups with
different types of stakeholders or
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stakeholders from different areas of the
country.
The frequency and content of the
questions may change depending on
economic conditions, regulatory, or
legislative developments, as well as
changes in technology, business
practices, and other factors affecting
consumers, stakeholders, and
communities.
Board of Governors of the Federal Reserve
System, December 19, 2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013–30641 Filed 12–23–13; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
emcdonald on DSK67QTVN1PROD with NOTICES
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y (12
CFR 225.41) to acquire shares of a bank
or bank 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 January
9, 2014.
A. Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90
Hennepin Avenue, Minneapolis,
Minnesota 55480–0291:
1. Dawn Crane, Fosston, Minnesota,
individually and as trustee; Lorri SkeieCampbell, Rio Rancho, New Mexico,
individually and as trustee; Dawn M.
Skeie Crane Irrevocable Trust; Dawn
Crane, as co-trustee; Lorri J. SkeieCampbell Irrevocable Trust, Winger, and
Lorri Skeie-Campbell, as co-trustee, all
of Winger, Minnesota; to retain and
acquire additional voting shares of
Financial Services of Winger, Inc., and
thereby indirectly retain and acquire
additional voting shares of Ultima Bank
Minnesota, both in Winger, Minnesota.
Board of Governors of the Federal Reserve
System, December 19, 2013.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2013–30616 Filed 12–23–13; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than January 20,
2014.
A. Federal Reserve Bank of Atlanta
(Chapelle Davis, Assistant Vice
President) 1000 Peachtree Street, NE.,
Atlanta, Georgia 30309:
1. Independent Bancshares, Inc.
Employee Stock Ownership Plan, Red
Bay, Alabama; to acquire at least 48
percent of the voting shares of
Independent Bancshares, Inc., and
thereby indirectly acquire voting shares
of Community Spirit Bank, both in Red
Bay, Alabama.
Board of Governors of the Federal Reserve
System, December 19, 2013.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2013–30614 Filed 12–23–13; 8:45 am]
BILLING CODE 6210–01–P
VerDate Mar<15>2010
16:36 Dec 23, 2013
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FEDERAL RESERVE SYSTEM
Notice of Proposals To Engage in or
To Acquire Companies Engaged in
Permissible Nonbanking Activities
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y, (12
CFR part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each notice is available for inspection
at the Federal Reserve Bank indicated.
The notice also will be available for
inspection at the offices of the Board of
Governors. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act.
Unless otherwise noted, comments
regarding the applications must be
received at the Reserve Bank indicated
or the offices of the Board of Governors
not later than January 9, 2014.
A. Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90
Hennepin Avenue, Minneapolis,
Minnesota 55480–0291:
1. Duke Financial Group, Inc.,
Minneapolis, Minnesota; to engage de
novo in extending credit and servicing
loans, pursuant to section 225.28(b)(1).
Board of Governors of the Federal Reserve
System, December 19, 2013.
Michael J. Lewandowski,
Associate Secretary of the Board.
[FR Doc. 2013–30615 Filed 12–23–13; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL TRADE COMMISSION
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Extension
Federal Trade Commission
(‘‘FTC’’ or ‘‘Commission’’).
ACTION: Notice.
AGENCY:
The FTC intends to ask the
Office of Management and Budget
(‘‘OMB’’) to extend through February 28,
2017, the current Paperwork Reduction
Act (‘‘PRA’’) clearance for the FTC’s
SUMMARY:
E:\FR\FM\24DEN1.SGM
24DEN1
]]>Agencies
[Federal Register Volume 78, Number 247 (Tuesday, December 24, 2013)]
[Notices]
[Pages 77680-77684]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-30641]
=======================================================================
-----------------------------------------------------------------------
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),
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers
to collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR part 1320
Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the Paperwork Reduction Act
Submission, supporting statements and approved collection of
information instruments are placed into OMB's public docket files. The
Federal Reserve may not conduct or sponsor, and the respondent is not
required to respond to, an information collection that has been
extended, revised, or implemented on or after October 1, 1995, unless
it displays a currently valid OMB control number.
DATES: Comments must be submitted on or before February 24, 2014.
ADDRESSES: You may submit comments, identified by FR 1378 or FR 3073,
by any of the following methods:
Agency Web site: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
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
https://www.federalreserve.gov/apps/foia/proposedregs.aspx 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
9:00 a.m. and 5:00 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: 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/apps/reportforms/review.aspx or may be requested
from the agency clearance officer, whose name appears below.
Federal Reserve Board Clearance Officer--Cynthia Ayouch--Office of
the Chief Data Officer, 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 Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. The accuracy of the Federal Reserve's estimate of the burden of
the proposed information collection, including the validity of the
methodology and assumptions used;
[[Page 77681]]
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 Collections
1. Report title: Surveys of Consumer and Community Affairs
Publications and Resources.
Agency form number: FR 1378.
OMB control number: 7,100--to be assigned.
Frequency: On occasion.
Reporters: Individuals, households, nonprofits, community
development organizations, consumer groups, financial institutions and
other financial companies offering consumer financial products and
services, other for profit companies, state or local agencies, and
researchers from academic, government, policy and other institutions.
Estimated annual reporting hours: 2,300 hours.
Estimated average hours per response:
Consumer surveys: quantitative surveys, 0.25 hours; qualitative
surveys, 1.5 hours.
Stakeholder surveys: quantitative surveys, 0.25 hours; qualitative
surveys, 1.5 hours.
Number of respondents:
Consumer surveys: quantitative surveys, 1,000; qualitative surveys,
50.
Stakeholder surveys: quantitative surveys, 800; qualitative
surveys, 50.
General description of report: This information collection is
generally authorized under sections 2A and 12A of the Federal Reserve
Act. Section 2A requires that the Board of Governors of the Federal
Reserve System and the Federal Open Market Committee (FOMC) maintain
long run growth of the monetary and credit aggregates commensurate with
the economy's long run potential to increase production, so as to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates. 12 U.S.C. 225a. In addition, under
section 12A of the Federal Reserve Act, the FOMC is required to
implement regulations relating to the open market operations conducted
by Federal Reserve Banks with a view to accommodating commerce and
business and with regard to the regulations' bearing upon the general
credit situation of the country. 12 U.S.C. 263. The authority of the
Federal Reserve to collect information to carry out the requirements of
these provisions is implicit. Accordingly, the Federal Reserve is
authorized to collect the information called for by the FR 1378 by
sections 2A and 12A of the Federal Reserve Act.
In addition, the Board is responsible for implementing and drafting
regulations and interpretations for various consumer protection laws.
The information obtained from the FR 1378 may be used in support of the
Board's development and implementation of regulatory provisions for
these laws. Therefore, depending on the survey questions asked, the
FR1378 may be authorized pursuant to the Board's authority under one or
more of the following consumer protection statutes:
Community Reinvestment Act, (12 U.S.C. 2905);
Competitive Equality Banking Act, (12 U.S.C. 3806);
Expedited Funds Availability Act, (12 U.S.C. 4008);
Truth in Lending Act, (15 U.S.C. 1604); \1\
---------------------------------------------------------------------------
\1\ Although the Dodd-Frank Act (DFA) cut back the Board's
authority under the Truth in Lending Act, the Board retains rule
writing authority for implementing regulations with respect to auto
dealers. DFA Sec. 1100A(7).
---------------------------------------------------------------------------
Fair Credit Reporting Act, (15 U.S.C. 1681s(e)); \2\
---------------------------------------------------------------------------
\2\ Although the DFA cut back the Board's authority under the
Fair Credit Reporting Act, the Board retains rule writing authority
for red flags, address changes, and disposal of records. DFA
Sec. Sec. 1002(12)(F) and 1088(a)(2)(D).
---------------------------------------------------------------------------
Equal Credit Opportunity Act, (15 U.S.C. 1691b); \3\
---------------------------------------------------------------------------
\3\ Although the DFA cut back the Board's authority under the
Equal Credit Opportunity Act, the Board retains rule writing
authority for implementing regulations with respect to auto dealers.
DFA Sec. 1085(3).
---------------------------------------------------------------------------
Electronic Funds Transfer Act, (15 U.S.C. 1693b & 1693o-
2); \4\
---------------------------------------------------------------------------
\4\ Although the DFA cut back the Board's authority under the
Electronic Fund Transfers Act, the Board retains rule writing
authority for interchange fee regulations and authority to implement
regulations with respect to auto dealers. DFA Sec. Sec. 1075 &
1084.
---------------------------------------------------------------------------
Gramm-Leach-Bliley Act, (15 U.S.C. 6801(b)); \5\ and
---------------------------------------------------------------------------
\5\ Although the DFA cut back the Board's authority under the
Gramm-Leach-Bliley Act, the Board maintains the authority to
establish appropriate standards for the financial institutions
relating to administrative, technical and physical safeguards for
certain customer records and information. DFA Sec. 1002(12).
---------------------------------------------------------------------------
Flood Disaster Protection Act of 1973, Section 102 (42
U.S.C. 4012a).
Participation in the FR 1378 is voluntary and the information
collected on these surveys is not considered confidential. Access to
contact information which is considered Personally Identifying
Information (PII) is typically necessary to recruit respondents for the
consumer and stakeholder surveys in this collection. Any PII used in
recruiting respondents for these surveys would be handled in accordance
with Board procedures.
Abstract: The Federal Reserve Board would use the FR 1378 surveys
to seek input from users or potential users of its publications and
resources to understand their interests and needs; to inform decisions
concerning content, design, and dissemination strategies; to gauge
public awareness of its publications and resources; and to assess the
effectiveness of its communications with various respondents.
Qualitative surveys would include data gathering methods such as
focus groups and individual interviews. Quantitative surveys would
include surveys conducted online or via mobile device, by phone, or by
mail, or a combination of these methods. The Federal Reserve may choose
to contract with an outside vendor to conduct focus groups, interviews,
or surveys, or may choose to collect the data directly. The Federal
Reserve may also work with outside parties when appropriate to identify
potential respondents (e.g. networks of community groups or
researchers) and to collect data.
As the Federal Reserve's publications and resources continue to
evolve, the Federal Reserve may seek input from users or potential
users of our publications on questions such as:
Was the content relevant and of value?
Was the length and nature of the discussion appropriate
and useful for this topic?
How did the reader access the publication or other
content--in hard copy distributed at an event, online, or using a
mobile device? If online or through a mobile device, was the document
printed for reading, read on a tablet or other e-reader, or read on a
computer screen?
Could the Federal Reserve improve the format and
appearance of the print or electronic presentation? This could include
the readability of type size or of charts and graphs; organization of
information; and ease of locating information through indexing, search
tools, and links.
Was the reader able to use the information to inform their
work?
The frequency of the surveys and content of the questions would
vary as needs arise for feedback on different resources and from
different audiences.
[[Page 77682]]
2. Report title: Consumer and Stakeholder Surveys.
Agency form number: FR 3073.
OMB control number: 7,100--to be assigned.
Frequency: Quarterly, annually, and on occasion.
Reporters: Individuals, households, community groups, community
development organizations, non-profit service providers, faith-based
service organizations, public sector agencies, small business owners,
health care organizations, food banks, K-12 public and private schools,
community colleges, community development financial institutions,
credit unions, banks, and other financial institutions and companies
offering financial products and services.
Estimated annual reporting hours: 10,700 hours.
Estimated average hours per response:
Consumer surveys: Quantitative surveys (medium), 0.25 hours;
Quantitative surveys (large), .40 hours; Qualitative surveys, 1.5
hours.
Stakeholder surveys: Quantitative surveys, 0.25 hours; Qualitative
surveys, 1.5 hours.
Number of respondents:
Consumer surveys: Quantitative surveys (medium), 2,500;
Quantitative surveys (large), 5,000; Qualitative surveys, 50.
Stakeholder surveys: Quantitative surveys, 1,500; Qualitative
surveys, 50.
General description of report: This information collection is
generally authorized under sections 2A and 12A of the Federal Reserve
Act. Section 2A requires that the Board of Governors of the Federal
Reserve System and the FOMC maintain long run growth of the monetary
and credit aggregates commensurate with the economy's long run
potential to increase production, so as to promote effectively the
goals of maximum employment, stable prices, and moderate long-term
interest rates. 12 U.S.C. 225a. In addition, under section 12A of the
Federal Reserve Act, the FOMC is required to implement regulations
relating to the open market operations conducted by Federal Reserve
Banks with a view to accommodating commerce and business and with
regard to the regulations' bearing upon the general credit situation of
the country. 12 U.S.C. 263. The authority of the Federal Reserve to
collect information to carry out the requirements of these provisions
is implicit. Accordingly, the Federal Reserve is authorized to collect
the information called for by the FR 3073 by sections 2A and 12A of the
Federal Reserve Act.
The Board is responsible for implementing and drafting regulations
and interpretations for various consumer protection laws. The
information obtained from the FR 3073 may be used in support of the
Board's development and implementation of regulatory provisions for
these laws. Therefore, depending on the survey questions asked, the FR
3073 may be authorized pursuant to the Board's authority under one or
more of the following consumer protection statutes:
Community Reinvestment Act, (12 U.S.C. 2905);
Competitive Equality Banking Act, (12 U.S.C. 3806);
Expedited Funds Availability Act, (12 U.S.C. 4008);
Truth in Lending Act, (15 U.S.C. 1604); \6\
---------------------------------------------------------------------------
\6\ Although the Dodd-Frank Act (DFA) cut back the Board's
authority under the Truth in Lending Act, the Board retains rule
writing authority for implementing regulations with respect to auto
dealers. DFA Sec. 1100A(7).
---------------------------------------------------------------------------
Fair Credit Reporting Act, (15 U.S.C. 1681s(e)); \7\
---------------------------------------------------------------------------
\7\ Although the DFA cut back the Board's authority under the
Fair Credit Reporting Act, the Board retains rule writing authority
for red flags, address changes, and disposal of records. DFA
Sec. Sec. 1002(12)(F) and 1088(a)(2)(D).
---------------------------------------------------------------------------
Equal Credit Opportunity Act, (15 U.S.C. 1691b); \8\
---------------------------------------------------------------------------
\8\ Although the DFA cut back the Board's authority under the
Equal Credit Opportunity Act, the Board retains rule writing
authority for implementing regulations with respect to auto dealers.
DFA Sec. 1085(3).
---------------------------------------------------------------------------
Electronic Funds Transfer Act, (15 U.S.C. 1693b & 1693o-
2); \9\
---------------------------------------------------------------------------
\9\ Although the DFA cut back the Board's authority under the
Electronic Fund Transfers Act, the Board retains rule writing
authority for interchange fee regulations and authority to implement
regulations with respect to auto dealers. DFA Sec. Sec. 1075 &
1084.
---------------------------------------------------------------------------
Gramm-Leach-Bliley Act, (15 U.S.C. 6801(b)); \10\ and
---------------------------------------------------------------------------
\10\ Although the DFA cut back the Board's authority under the
Gramm-Leach-Bliley Act, the Board maintains the authority to
establish appropriate standards for the financial institutions
relating to administrative, technical and physical safeguards for
certain customer records and information. DFA Sec. 1002(12).
---------------------------------------------------------------------------
Flood Disaster Protection Act of 1973, Section 102 (42
U.S.C. 4012a).
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
Edge and agreement corporations under section 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)).
Participation in the FR 3073 is voluntary. The ability of the
Federal Reserve to maintain the confidentiality of information provided
by respondents to the FR 3073 surveys will have to be determined on a
case by case basis depending on the type of information provided for a
particular survey. Some of the information collected on the surveys may
be protected from Freedom of Information Act (FOIA) disclosure by FOIA
exemptions 4 and 6. Exemption 4 protects from disclosure trade secrets
and commercial or financial information, while Exemption 6 protects
information ``the disclosure of which would constitute a clearly
unwarranted invasion of personal privacy.'' See 5 U.S.C. 552(b)(4) and
(6).
Access to contact information which is considered PII is typically
necessary to recruit respondents for the consumer and stakeholder
surveys in this collection. Any PII used in recruiting respondents for
these surveys would be handled in accordance with Board procedures.
Outside vendors who conduct consumer surveys under contract with the
Board remove PII before providing survey data to the Board. Consumer
survey data, whether collected by an outside vendor or by the Board,
would be collected for research purposes only and any identifying
information on respondents would be removed before any data is publicly
released.
Abstract: The Federal Reserve would use the FR 3073 surveys to
gather quantitative and qualitative information directly from
individual consumers or households (consumer surveys) on consumer
finance topics. This collection also would be used to gather
quantitative and qualitative information on current and emerging
community economic issues from stakeholders (stakeholder surveys). The
Federal Reserve would use this collection to inform consumer-focused
supervision, research, and policy analysis; implement statutory
requirements; and facilitate community development. The surveys in this
collection would inform the Federal Reserve's work by identifying
emerging risks and providing additional data on the issues that affect
the well-being of consumers and communities and the function of the
market for financial services.
Topics explored in quantitative and qualitative consumer surveys
are likely to vary over time, although some topics
[[Page 77683]]
may be repeated. Surveys may relate to various aspects of consumer
financial knowledge, attitudes, and behavior, and may inform
understanding of changes in the markets for consumer financial
services, including changes stemming from regulatory or legislative
developments as well as from changes in technology and business
practices. Some surveys may be needed to address issues of immediate
concern, and such issues may not be anticipated in advance. Examples of
topics for consumer surveys may include:
Use of financial products and services;
Use of technology and various service delivery channels;
Ability to notice, comprehend, and use disclosures,
Ability to comprehend terms of credit or account
agreements;
Preferences about the delivery of information (content,
format, timing, and method);
Comprehension of particular deliveries of information
(electronic and paper media);
Abilities to use a particular method of delivery, such as
web-based disclosures;
Sources and incidence of financial stress, and resources
for coping with adverse shocks;
Behaviors related to searching, shopping, and negotiating
for credit or asset purchases;
Financial planning, borrowing, investment, and insurance
decisions;
Financial knowledge, attitudes, and advice-seeking
behaviors; and
Human capital investment decisions and labor market
outcomes.
For the quantitative consumer surveys, the Federal Reserve would
typically contract with an outside vendor to collect the data.
For surveys administered via an outside vendor, the Federal Reserve
would design the survey and draft the survey questions in consultation
with the vendor. The questions asked on any given survey would be
specific to the particular topic of interest. Some questions may be
repeated in subsequent surveys, but others may be asked on a single
survey. The firm would be responsible for testing the survey
procedures, following the sampling protocol and conducting the survey
as specified by the Federal Reserve, preparing data files containing
the responses, computing analysis weights, and documenting all survey
procedures. Data editing and analysis of the results may be conducted
either solely by the Federal Reserve and any research partner or
jointly with the firm depending on the needs of the project.
The number of respondents to any given survey would vary depending
on the purpose of the survey and the sample size needed to obtain
statistically valid results. The Federal Reserve anticipates fielding
up to two large surveys each year and four medium (in sample size and
survey time length) surveys focused on particular topics for which data
needs have arisen.
Qualitative surveys with consumers such as focus groups and
interviews may be conducted on a variety of topics, either as a
standalone study or as a complement to a quantitative study as a part
of a larger project. Formal or informal qualitative surveys may be
conducted by the Federal Reserve and any outside partners collaborating
with the Federal Reserve. They also may be conducted through a private
contractor, which would be chosen in a competitive bidding process or
other acceptable negotiated process. The research instruments may be
developed by the Federal Reserve and any research partner or jointly
with the contractor working on behalf of the Board. As necessary, the
contractor may be responsible for testing the study procedures,
following the sampling protocol established by the Federal Reserve,
conducting the study as specified by the Federal Reserve, collecting
and coding responses, and documenting all procedures. Data editing and
analysis of the results may be conducted either by the Federal Reserve
and any research partner, by the contractor, or some combination of
these depending on the project.
The number of respondents to any given qualitative survey would
also vary depending on the purpose of the survey and the number of
respondents needed to provide a range of viewpoints. FR 3073 would
enable the Federal Reserve to conduct up eight qualitative surveys each
year with about 50 respondents per survey. For example, a qualitative
survey could include several focus groups on a particular topic for
which data needs have arisen.
The stakeholder surveys would be used to gather quantitative and
qualitative information directly from stakeholders (stakeholder
surveys). Stakeholders may include, for example, such organizations as
community groups, community development organizations, non-profit
service providers, faith-based service organizations, public sector
agencies, small business owners, health care organizations, food banks,
K-12 public and private schools, community colleges community
development financial institutions, credit unions, banks, and other
financial institutions and companies offering financial products and
services. Before initiating a new survey, the Federal Reserve would
determine if the information to be collected is available by other
means or sources within the Federal Reserve System to avoid imposing
additional burden on stakeholders.
Quantitative surveys would initially be collected in partnership
with an intermediary working with community-based nonprofits to gather
responses from their affiliates and grantees on a voluntary basis.
Quarterly invitations to complete the survey would be emailed to
stakeholders. The surveys would be administered through a web-based
platform and capture trends (information over time) as well as
geographical dispersion (representative coverage of all 12 Reserve Bank
districts). The Federal Reserve would continue to explore other avenues
for collecting data from community stakeholders, including building a
national stakeholder sampling frame.
The survey questions would include current and emerging community
economic issues including job availability, access to affordable rental
housing, access to credit, and non-profit organizational capacity to
meet community demands for services. Some topics would be covered each
quarter, while others may be included less frequently. The Federal
Reserve anticipates fielding up to eight quantitative stakeholder
surveys each year, although surveys may not be conducted that
frequently.
As with the consumer surveys described above, formal or informal
qualitative surveys with stakeholders would be conducted by the Federal
Reserve and any outside partners collaborating with the Board. Such
surveys may also be conducted through a private contractor. Topics for
qualitative surveys may vary and may include new issues of concern for
stakeholders or communities, or exploring an ongoing area of focus in
more depth. Such methods could also be used for testing and developing
the wording of survey questions, and complementing a quantitative
survey in a mixed method research design.
The number of respondents to any given qualitative stakeholder
survey would vary depending on the purpose of the survey and the number
of respondents needed to provide a range of viewpoints. FR 3073 would
enable the Federal Reserve to conduct up to eight qualitative surveys
each year with about 50 respondents per survey. For example, a
qualitative survey could include several focus groups with different
types of stakeholders or
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stakeholders from different areas of the country.
The frequency and content of the questions may change depending on
economic conditions, regulatory, or legislative developments, as well
as changes in technology, business practices, and other factors
affecting consumers, stakeholders, and communities.
Board of Governors of the Federal Reserve System, December 19,
2013.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2013-30641 Filed 12-23-13; 8:45 am]
BILLING CODE 6210-01-P
