Proposed Agency Information Collection Activities; Comment Request, 12298-12300 [2020-04195]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES 12298 Federal Register / Vol. 85, No. 41 / Monday, March 2, 2020 / Notices information collection to account for this disclosure provision. Legal authorization and confidentiality: The information collections contained within the Policy Statement, as well as the self-assessment reporting template, are authorized by section 342 of the Dodd-Frank Act,2 which requires the Board’s OMWI director to develop standards for assessing regulated entities’ diversity policies and practices. The information collections associated with the Policy Statement are voluntary, as is the use of the self-assessment reporting template. The Transparency Standard, and a portion of the Self-Assessment Standard, call for regulated entities to provide information to the public, so confidentiality is not an issue with respect to those aspects of the Policy Statement. A regulated entity may provide self-assessment material to the Board (including through use of the reporting template) containing confidential commercial information that is protectable under exemption 4 of the Freedom of Information Act.3 If a regulated entity submits confidential commercial information that is both customarily and actually treated as private by the entity, the entity should separately designate such information as ‘‘confidential commercial information,’’ as appropriate, and the Board will treat such designated information as confidential to the extent permitted by law, including the Freedom of Information Act.4 As noted in the Policy Statement, an entity’s primary federal regulator may share information obtained from regulated entities with other Agencies, but the Agencies will only publish information disclosed to them in a form that does not identify a particular entity or individual or disclose confidential business information. Consultation outside the agency: The Agencies worked together to develop standards for assessing the diversity policies and practices of their regulated entities. The Board will continue to reach out to the regulated entities and other interested parties to discuss diversity and inclusion in the financial services industry and share leading practices. The primary federal financial regulator will share information with other agencies, when appropriate, to support coordination of efforts and to avoid duplication. U.S.C. 5452. U.S.C. 552(b)(4). 4 5 U.S.C. 552. Jkt 250001 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, if any, 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)). Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551–0001, not later than April 1, 2020. A. Federal Reserve Bank of Atlanta (Kathryn Haney, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Business First Bancshares, Inc., Baton Rouge, Louisiana; to merge with Pedestal Bancshares, Inc., thereby indirectly acquire Pedestal Bank, both of Houma, Louisiana. Board of Governors of the Federal Reserve System, February 26, 2020. Yao-Chin Chao, Assistant Secretary of the Board. PO 00000 Frm 00049 Fmt 4703 FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request Board of Governors of the Federal Reserve System. ACTION: Notice, request for comment. AGENCY: BILLING CODE 6210–01–P BILLING CODE 6210–01–P 35 18:10 Feb 28, 2020 [FR Doc. 2020–04197 Filed 2–28–20; 8:45 am] [FR Doc. 2020–04205 Filed 2–28–20; 8:45 am] 2 12 VerDate Sep<11>2014 Board of Governors of the Federal Reserve System, February 25, 2020. Michele Taylor Fennell, Assistant Secretary of the Board. Sfmt 4703 The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, with revision, the Survey of Small Business and Farm Lending (SSBFL) (FR 2028; OMB No. 7100– 0061). SUMMARY: Comments must be submitted on or before May 1, 2020. ADDRESSES: You may submit comments, identified by FR 2028, by any of the following methods: • Agency website: https:// www.federalreserve.gov/. Follow the instructions for submitting comments at https://www.federalreserve.gov/apps/ foia/proposedregs.aspx. • Email: regs.comments@ federalreserve.gov. Include the OMB number in the subject line of the message. • FAX: (202) 452–3819 or (202) 452– 3102. • Mail: Ann E. Misback, 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 website at https:// www.federalreserve.gov/apps/foia/ proposedregs.aspx as submitted, unless modified for technical reasons or to remove personally identifiable information at the commenter’s request. Accordingly, comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the Board requires that visitors make an appointment to inspect comments. You may do so by calling (202) 452–3684. Upon arrival, visitors will be required to present valid government-issued photo identification and to submit to security screening in order to inspect and photocopy comments. Additionally, commenters may send a copy of their comments to the 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, DATES: E:\FR\FM\02MRN1.SGM 02MRN1 Federal Register / Vol. 85, No. 41 / Monday, March 2, 2020 / Notices 725 17th Street NW, Washington, DC 20503, or by fax to (202) 395–6974. FOR FURTHER INFORMATION CONTACT: 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, if approved. These documents will also be made 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 below. 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. SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board authority under the PRA to approve and assign OMB control numbers to collections of information conducted or sponsored by the Board. In exercising this delegated authority, the Board is directed to take every reasonable step to solicit comment. In determining whether to approve a collection of information, the Board will consider all comments received from the public and other agencies. khammond on DSKJM1Z7X2PROD with NOTICES Request for Comment on Information Collection Proposal The Board invites public comment on the following information collection, which is being reviewed under authority delegated by the OMB under the PRA. Comments are invited on the following: a. Whether the proposed collection of information is necessary for the proper performance of the Board’s functions, including whether the information has practical utility; b. The accuracy of the Board’s estimate of the burden of the proposed information collection, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; d. Ways to minimize the burden of information collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e. Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. At the end of the comment period, the comments and recommendations received will be analyzed to determine VerDate Sep<11>2014 18:10 Feb 28, 2020 Jkt 250001 the extent to which the Board should modify the proposal. Proposal Under OMB Delegated Authority To Extend for Three Years, With Revision, the Following Information Collection Report title: Survey of Small Business and Farm Lending. Agency form number: FR 2028. OMB control number: 7100–0061. Frequency: Quarterly. Respondents: Domestically chartered commercial banks. Estimated number of respondents: FR 2028B—250, FR 2028S—250, FR 2028D—398. Estimated average hours per response: FR 2028B—1.4, FR 2028S—0.1, FR 2028D—3.0. Estimated annual burden hours: FR 2028B—1,400, FR 2028S—100, FR 2028D—4,776. General description of report: The SSBFL (previously the Survey of Terms of Lending) collects unique information concerning price and certain nonprice terms of loans made to businesses and farmers each quarter (February, May, August, and November). The FR 2028B collects detailed data on individual loans funded during the first full business week of the mid-month of each quarter and the FR 2028S collects the prime interest rate for each day of the survey week from FR 2028B respondents. The FR 2028D provides focused and enhanced information on small business lending including rates, terms, credit availability, and reasons for their changes. The FR 2028D collects quarterly average quantitative data on terms of small business loans and qualitative information on changes and the reasons for changes in the terms of lending. From these sample SSBFL data, estimates of the terms of business loans and farm loans extended are constructed. The aggregate estimates for business loans are published in the Federal Reserve Bank of Kansas City’s quarterly release, Small Business Lending Survey, and aggregate estimates for farm loans are published in the statistical release, Agricultural Finance Databook. Proposed revisions: The Federal Reserve proposes to implement revisions to the FR 2028D reporting requirements, forms and instructions, to be effective with the reports as of August 1, 2020. Most of the revisions are proposed to minimize burden on respondents. These changes include removing items related to base lending rates, secured loans and loan guarantees. Additionally, questions related to low and moderate income (LMI) tracts have been removed from the PO 00000 Frm 00050 Fmt 4703 Sfmt 4703 12299 survey as have two qualitative questions ranking the relative weight of certain survey responses. A question related to credit card loans has been added to the survey for those respondents with an asset size of greater than $10 billion. Changes to the instructions are clarifying in nature or address changes to the form. One change broadens the definition of small business lending to allow institutions that do not track borrowers’ organization revenue to participate in the survey. Additionally, revisions have been made to the Frequently Asked Questions section to increase clarity of form definitions. Small Business Lending Survey Form Deletions Questions determined to provide lower value, in comparison to the burden imposed on respondents required to track and respond, would be removed from the survey. Survey questions related to weighted average base rates and the number and dollar amount of secured loans would be removed, eliminating 12 questions each for fixed rate and variable rate small business commercial and industrial (C&I) loans. Questions related to loan guarantees, including those referencing Small Business Administration loans, would also be removed, a reduction of 22 questions for fixed rate loans and 16 questions for variable rate loans. Four questions each were removed for fixed rate and variable rate loans regarding number of loans at the interest rate floor, and five questions related to LMI tracts for Community Reinvestment Act purposes would be removed. Finally, two questions ranking the relative weight of certain survey responses would be eliminated. Small Business Lending Survey Form Additions For institutions with an asset size greater than $10 billion, questions related to credit card lending would be added to the survey. Six questions, each for fixed and variable rate lending, would be added for the purpose of improving clarity in small business C&I lending and to identify situations where interest rates on credit card loans may skew data on weighted average interest rates. Additionally, an option to choose the secured overnight financing rate (SOFR) as an institution’s base rate for C&I small business lending would be added to questions 1 and 2 of the survey. Survey Period The Federal Reserve proposes a change to begin the transmission period two weeks earlier to extend the E:\FR\FM\02MRN1.SGM 02MRN1 12300 Federal Register / Vol. 85, No. 41 / Monday, March 2, 2020 / Notices transmission time for respondents to 28 calendar days, allowing additional time for reporters to prepare and transmit data. Legal authorization and confidentiality: The FR 2028 is authorized by section 11(a)(2) of the Federal Reserve Act (12 U.S.C. 248(a)(2)), which authorizes the Board to require any depository institution to make such reports of its assets and liabilities as the Board may determine to be necessary or desirable to enable the Board to discharge its responsibilities to monitor and control monetary and credit aggregates. The FR 2028 survey submissions are voluntary. Individual respondents may request that information submitted to the Board through a survey under FR 2028 be kept confidential. If a respondent requests confidential treatment, the Board will determine whether the information is entitled to confidential treatment on a case-by-case basis. The Board will consider whether information collected through these surveys may be kept confidential under exemption 4 for the Freedom of Information Act (FOIA), which protects privileged or confidential commercial or financial information (5 U.S.C. 552(b)(4)), or any other applicable FOIA exemption. Board of Governors of the Federal Reserve System, February 25, 2020. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2020–04195 Filed 2–28–20; 8:45 am] BILLING CODE 6210–01–P FEDERAL TRADE COMMISSION [File No. 191 0087] FXI Holdings and Innocor; Analysis of Agreement Containing Consent Order To Aid Public Comment Federal Trade Commission. Proposed consent agreement; request for comment. AGENCY: ACTION: The consent agreement in this matter settles alleged violations of federal law prohibiting unfair methods of competition. The attached Analysis of Agreement Containing Consent Order to Aid Public Comment describes both the allegations in the complaint and the terms of the consent order—embodied in the consent agreement—that would settle these allegations. DATES: Comments must be received on or before April 1, 2020. ADDRESSES: Interested parties may file comments online or on paper, by following the instructions in the Request for Comment part of the khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:10 Feb 28, 2020 Jkt 250001 SUPPLEMENTARY INFORMATION section below. Please write: ‘‘FXI Holdings and Innocor; File No. 191 0087’’ on your comment, and file your comment online at https://www.regulations.gov by following the instructions on the webbased form. If you prefer to file your comment on paper, please mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC–5610 (Annex D), Washington, DC 20580, or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex D), Washington, DC 20024. FOR FURTHER INFORMATION CONTACT: Llewellyn Davis (202–326–3394), Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Avenue NW, Washington, DC 20580. SUPPLEMENTARY INFORMATION: Pursuant to Section 6(f) of the Federal Trade Commission Act, 15 U.S.C. 46(f), and FTC Rule 2.34, 16 CFR 2.34, notice is hereby given that the above-captioned consent agreement containing a consent order to cease and desist, having been filed with and accepted, subject to final approval, by the Commission, has been placed on the public record for a period of thirty (30) days. The following Analysis of Agreement Containing Consent Order to Aid Public Comment describes the terms of the consent agreement and the allegations in the complaint. An electronic copy of the full text of the consent agreement package can be obtained from the FTC website (for February 21, 2020), at this web address: https://www.ftc.gov/newsevents/commission-actions. You can file a comment online or on paper. For the Commission to consider your comment, we must receive it on or before April 1, 2020. Write ‘‘FXI Holdings and Innocor; File No. 191 0087’’ on your comment. Your comment—including your name and your state—will be placed on the public record of this proceeding, including, to the extent practicable, on the https:// www.regulations.gov website. Postal mail addressed to the Commission is subject to delay due to heightened security screening. As a result, we encourage you to submit your comments online through the https:// www.regulations.gov website. If you prefer to file your comment on paper, write ‘‘FXI Holdings and Innocor; File No. 191 0087’’ on your comment and on the envelope, and mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 NW, Suite CC–5610 (Annex D), Washington, DC 20580; or deliver your comment to the following address: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex D), Washington, DC 20024. If possible, submit your paper comment to the Commission by courier or overnight service. Because your comment will be placed on the publicly accessible website at https://www.regulations.gov, you are solely responsible for making sure that your comment does not include any sensitive or confidential information. In particular, your comment should not include any sensitive personal information, such as your or anyone else’s Social Security number; date of birth; driver’s license number or other state identification number, or foreign country equivalent; passport number; financial account number; or credit or debit card number. You are also solely responsible for making sure your comment does not include any sensitive health information, such as medical records or other individually identifiable health information. In addition, your comment should not include any ‘‘trade secret or any commercial or financial information which . . . is privileged or confidential’’—as provided by Section 6(f) of the FTC Act, 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 16 CFR 4.10(a)(2)— including in particular competitively sensitive information such as costs, sales statistics, inventories, formulas, patterns, devices, manufacturing processes, or customer names. Comments containing material for which confidential treatment is requested must be filed in paper form, must be clearly labeled ‘‘Confidential,’’ and must comply with FTC Rule 4.9(c). In particular, the written request for confidential treatment that accompanies the comment must include the factual and legal basis for the request, and must identify the specific portions of the comment to be withheld from the public record. See FTC Rule 4.9(c). Your comment will be kept confidential only if the General Counsel grants your request in accordance with the law and the public interest. Once your comment has been posted on the public FTC website—as legally required by FTC Rule 4.9(b)—we cannot redact or remove your comment from the FTC website, unless you submit a confidentiality request that meets the requirements for such treatment under FTC Rule 4.9(c), and the General Counsel grants that request. Visit the FTC website at http:// www.ftc.gov to read this Notice and the E:\FR\FM\02MRN1.SGM 02MRN1

Agencies

[Federal Register Volume 85, Number 41 (Monday, March 2, 2020)]
[Notices]
[Pages 12298-12300]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-04195]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

-----------------------------------------------------------------------

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, with revision, 
the Survey of Small Business and Farm Lending (SSBFL) (FR 2028; OMB No. 
7100-0061).

DATES: Comments must be submitted on or before May 1, 2020.

ADDRESSES: You may submit comments, identified by FR 2028, by any of 
the following methods:
     Agency website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, 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 website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any identifying or 
contact information. Public comments may also be viewed electronically 
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006, 
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the 
Board requires that visitors make an appointment to inspect comments. 
You may do so by calling (202) 452-3684. Upon arrival, visitors will be 
required to present valid government-issued photo identification and to 
submit to security screening in order to inspect and photocopy 
comments.
    Additionally, commenters may send a copy of their comments to the 
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,

[[Page 12299]]

725 17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: 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, if approved. These documents will also be made 
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 below.
    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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information conducted or sponsored by the Board. In 
exercising this delegated authority, the Board is directed to take 
every reasonable step to solicit comment. In determining whether to 
approve a collection of information, the Board will consider all 
comments received from the public and other agencies.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, With 
Revision, the Following Information Collection

    Report title: Survey of Small Business and Farm Lending.
    Agency form number: FR 2028.
    OMB control number: 7100-0061.
    Frequency: Quarterly.
    Respondents: Domestically chartered commercial banks.
    Estimated number of respondents: FR 2028B--250, FR 2028S--250, FR 
2028D--398.
    Estimated average hours per response: FR 2028B--1.4, FR 2028S--0.1, 
FR 2028D--3.0.
    Estimated annual burden hours: FR 2028B--1,400, FR 2028S--100, FR 
2028D--4,776.
    General description of report: The SSBFL (previously the Survey of 
Terms of Lending) collects unique information concerning price and 
certain nonprice terms of loans made to businesses and farmers each 
quarter (February, May, August, and November). The FR 2028B collects 
detailed data on individual loans funded during the first full business 
week of the mid-month of each quarter and the FR 2028S collects the 
prime interest rate for each day of the survey week from FR 2028B 
respondents. The FR 2028D provides focused and enhanced information on 
small business lending including rates, terms, credit availability, and 
reasons for their changes. The FR 2028D collects quarterly average 
quantitative data on terms of small business loans and qualitative 
information on changes and the reasons for changes in the terms of 
lending. From these sample SSBFL data, estimates of the terms of 
business loans and farm loans extended are constructed. The aggregate 
estimates for business loans are published in the Federal Reserve Bank 
of Kansas City's quarterly release, Small Business Lending Survey, and 
aggregate estimates for farm loans are published in the statistical 
release, Agricultural Finance Databook.
    Proposed revisions: The Federal Reserve proposes to implement 
revisions to the FR 2028D reporting requirements, forms and 
instructions, to be effective with the reports as of August 1, 2020. 
Most of the revisions are proposed to minimize burden on respondents. 
These changes include removing items related to base lending rates, 
secured loans and loan guarantees. Additionally, questions related to 
low and moderate income (LMI) tracts have been removed from the survey 
as have two qualitative questions ranking the relative weight of 
certain survey responses. A question related to credit card loans has 
been added to the survey for those respondents with an asset size of 
greater than $10 billion. Changes to the instructions are clarifying in 
nature or address changes to the form. One change broadens the 
definition of small business lending to allow institutions that do not 
track borrowers' organization revenue to participate in the survey. 
Additionally, revisions have been made to the Frequently Asked 
Questions section to increase clarity of form definitions.

Small Business Lending Survey Form Deletions

    Questions determined to provide lower value, in comparison to the 
burden imposed on respondents required to track and respond, would be 
removed from the survey. Survey questions related to weighted average 
base rates and the number and dollar amount of secured loans would be 
removed, eliminating 12 questions each for fixed rate and variable rate 
small business commercial and industrial (C&I) loans. Questions related 
to loan guarantees, including those referencing Small Business 
Administration loans, would also be removed, a reduction of 22 
questions for fixed rate loans and 16 questions for variable rate 
loans. Four questions each were removed for fixed rate and variable 
rate loans regarding number of loans at the interest rate floor, and 
five questions related to LMI tracts for Community Reinvestment Act 
purposes would be removed. Finally, two questions ranking the relative 
weight of certain survey responses would be eliminated.

Small Business Lending Survey Form Additions

    For institutions with an asset size greater than $10 billion, 
questions related to credit card lending would be added to the survey. 
Six questions, each for fixed and variable rate lending, would be added 
for the purpose of improving clarity in small business C&I lending and 
to identify situations where interest rates on credit card loans may 
skew data on weighted average interest rates. Additionally, an option 
to choose the secured overnight financing rate (SOFR) as an 
institution's base rate for C&I small business lending would be added 
to questions 1 and 2 of the survey.

Survey Period

    The Federal Reserve proposes a change to begin the transmission 
period two weeks earlier to extend the

[[Page 12300]]

transmission time for respondents to 28 calendar days, allowing 
additional time for reporters to prepare and transmit data.
    Legal authorization and confidentiality: The FR 2028 is authorized 
by section 11(a)(2) of the Federal Reserve Act (12 U.S.C. 248(a)(2)), 
which authorizes the Board to require any depository institution to 
make such reports of its assets and liabilities as the Board may 
determine to be necessary or desirable to enable the Board to discharge 
its responsibilities to monitor and control monetary and credit 
aggregates. The FR 2028 survey submissions are voluntary.
    Individual respondents may request that information submitted to 
the Board through a survey under FR 2028 be kept confidential. If a 
respondent requests confidential treatment, the Board will determine 
whether the information is entitled to confidential treatment on a 
case-by-case basis. The Board will consider whether information 
collected through these surveys may be kept confidential under 
exemption 4 for the Freedom of Information Act (FOIA), which protects 
privileged or confidential commercial or financial information (5 
U.S.C. 552(b)(4)), or any other applicable FOIA exemption.

    Board of Governors of the Federal Reserve System, February 25, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-04195 Filed 2-28-20; 8:45 am]
 BILLING CODE 6210-01-P