Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 34890 [2019-15366]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 84, Number 139 (Friday, July 19, 2019)]
[Notices]
[Page 34890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15366]


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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, without revision, the 
Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 
2034; OMB No. 7100-0325).

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.
    Office of Management and Budget (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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be placed into OMB's public docket files. 
These documents also are available on the Board's public website at 
https://www.federalreserve.gov/apps/reportforms/review.aspx or may be 
requested from the agency clearance officer, whose name appears above.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve 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 PRA submission, supporting 
statements and approved collection of information instrument(s) are 
placed into OMB's public docket files.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Senior Credit Officer Opinion Survey on Dealer 
Financing Terms.
    Agency form number: FR 2034.
    OMB control number: 7100-0325.
    Frequency: Quarterly.
    Respondents: U.S. financial institutions and U.S. branches and 
agencies of foreign banks.
    Estimated number of respondents: 25.
    Estimated average hours per response: 5.
    Estimated annual burden hours: 500.
    General description of report: This survey collects qualitative and 
limited quantitative information from senior credit officers at 
responding financial institutions on (1) stringency of credit terms, 
(2) credit availability and demand across the entire range of 
securities financing and over-the-counter derivatives transactions, and 
(3) the evolution of market conditions and conventions applicable to 
such activities. Given the Board's interest in financial stability, the 
information this survey collects is critical to the monitoring of 
credit markets and capital market activity. Information from the survey 
is also considered by the Federal Open Market Committee (FOMC) as it 
sets monetary policy. Aggregate survey results are made available to 
the public on the Board's website.\1\ In addition, selected aggregate 
survey results may be discussed in Governors' speeches and may be 
published in Federal Reserve Bulletin articles and in the semi-annual 
Monetary Policy Report to the Congress.
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    \1\ See www.federalreserve.gov/econresdata/releases/scoos.htm.
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    Legal authorization and confidentiality: The FR 2034 is authorized 
pursuant to sections 2A and 12A of the Federal Reserve Act (``FRA''). 
Section 2A of the FRA requires that the Board 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). Under section 12A 
of the FRA, the FOMC is required to implement regulations relating to 
the open market operations conducted by Federal Reserve Banks. Those 
transactions must be governed 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). The Board and the FOMC use 
the information obtained from the FR 2034 to help fulfill these 
obligations. The FR 2034 is voluntary. Information collected on the FR 
2034 may be granted confidential treatment under exemption (b)(4) of 
the Freedom of Information Act, 5 U.S.C. 552(b)(4), which protects from 
disclosure ``trade secrets and commercial or financial information 
obtained from a person and privileged or confidential.''
    Current actions: On April 17, 2019, the Board published an initial 
notice in the Federal Register (84 FR 16015) requesting public comment 
for 60 days on the extension, without revision, of the FR 2034. The 
comment period for this notice expired on June 17, 2019. The Board did 
not receive any comments.

    Board of Governors of the Federal Reserve System, July 15, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-15366 Filed 7-18-19; 8:45 am]
 BILLING CODE 6210-01-P