Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 39433 [2017-17480]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 82, Number 159 (Friday, August 18, 2017)]
[Notices]
[Page 39433]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17480]





[[Page 39433]]



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FEDERAL RESERVE SYSTEM




Agency Information Collection Activities: Announcement of Board 

Approval Under Delegated Authority and Submission to OMB



AGENCY: Board of Governors of the Federal Reserve System.



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

is adopting a proposal to extend for three years, with revision, the 

voluntary Ongoing Intermittent Survey of Households (FR 3016; OMB No. 

7100-0150).

    On June 15, 1984, the Office of Management and Budget (OMB) 

delegated to the Board authority under the Paperwork Reduction Act 

(PRA) to approve of and assign OMB control numbers to collection of 

information requests and requirements conducted or sponsored by the 

Board. Board-approved collections of information are incorporated into 

the official OMB inventory of currently approved collections of 

information. Copies of the Paperwork Reduction Act Submission, 

supporting statements and approved collection of information 

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--Nuha Elmaghrabi--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.

    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.



Final Approval Under OMB Delegated Authority of the Extension for Three 

Years, With Revision, of the Following Report



    Report title: Ongoing Intermittent Survey of Households.

    Agency form number: FR 3016.

    OMB control number: 7100-0150.

    Frequency: Monthly.

    Respondents: Households and individuals.

    Estimated number of respondents: 500.

    Estimated average hours per response: 1.58 minutes.

    Estimated annual burden hours: 158 hours.

    General Description of Report: The Board uses this voluntary survey 

to obtain household-based information specifically tailored to the 

Board's policy, regulatory, and operational responsibilities. The Board 

primarily uses the survey to study consumer financial decisions, 

attitudes, and payment behavior. Currently, the University of 

Michigan's Survey Research Center (SRC) includes survey questions on 

behalf of the Board in an addendum to their regular monthly Survey of 

Consumer Attitudes and Expectations. The SRC conducts the survey by 

telephone with a sample of 500 households and asks questions of special 

interest to the Board.

    Legal authorization and confidentiality: The Board's Legal Division 

has determined that Section 2A of the Federal Reserve Act (FRA) 

requires that the Federal Reserve Board and the Federal Open Market 

Committee 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). Under section 12A of the FRA, the Federal Open Market 

Committee 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 their bearing 

upon the general credit situation of the country (12 U.S.C. 263). 

Because the Board and the Federal Open Market Committee use the 

information obtained on the FR 3016 to fulfill these obligations, these 

statutory provisions provide the legal authorization for the collection 

of information on the FR 3016. The FR 3016 is a voluntary survey. No 

issue of confidentiality normally arises under the FR 3016, as names 

and any other characteristics that would permit personal identification 

of respondents are not reported to the Board. However, should the Board 

obtain such information, it would likely be exempt under exemption 6 of 

the Freedom of Information Act (5 U.S.C. 552(b)(6)) to the extent that 

it includes ``personnel and medical files and similar files the 

disclosure of which would constitute a clearly unwarranted invasion of 

personal privacy.''

    Current actions: On May 22, 2017 the Board published a notice in 

the Federal Register (82 FR 23249) requesting public comment for 60 

days on the extension, with revision, of the Ongoing Intermittent 

Survey of Households. The Board proposed to eliminate the Division of 

Consumer and Community Affairs and other divisions' SRC surveys, as 

well as non-SRC surveys, as these surveys have not been conducted since 

2010 and are not expected to be utilized in the next several years. The 

comment period for this notice expired on July 21, 2017. The Board did 

not receive any comments. The revisions will be implemented as 

proposed.



    Board of Governors of the Federal Reserve System, August 15, 

2017.

Ann E. Misback,

Secretary of the Board.

[FR Doc. 2017-17480 Filed 8-17-17; 8:45 am]

BILLING CODE 6210-01-P