Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 43237-43238 [2020-15400]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 85, Number 137 (Thursday, July 16, 2020)]
[Notices]
[Pages 43237-43238]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15400]


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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 
Ongoing Intermittent Survey of Households (FR 3016; OMB No. 7100-0150).

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 Federal Reserve 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 
collections of information 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(s)

    Report title: Ongoing Intermittent Survey of Households.
    Agency form number: FR 3016.
    OMB control number: 7100-0150.
    Frequency: Monthly.
    Respondents: Individuals and households.
    Estimated number of respondents: 500.
    Estimated average hours per response: 1.6 minutes.
    Estimated annual burden hours: 160.
    General description of report: The Board uses the Ongoing 
Intermittent Survey of Households survey to study consumer financial 
decisions, attitudes, and payment behavior. The Board has a contract 
with the University of Michigan's Survey Research Center (SRC) to 
include survey questions on behalf of the Board in an addendum to the 
SRC's regular monthly Survey of Consumer Attitudes and Expectations. 
The SRC conducts the survey by telephone with a sample of 500 
households and includes questions of special interest to the Board.
    Legal authorization and confidentiality: The FR 3016 is authorized 
by sections 2A and 12A of the Federal Reserve Act (FRA). Section 2A of 
the FRA requires that the Board 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 the maximum 
employment, stable prices, and moderate long-term interest rates.'' \1\ 
Under section 12A of the FRA, 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 their bearing upon the general credit situation of the 
country.'' \2\ The information collection under the FR 3016 is used to 
fulfill these obligations. Survey submissions under the FR 3016 are 
voluntary.
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    \1\ 12 U.S.C. 225a.
    \2\ 12 U.S.C. 263(c).
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    Location information associated with individual responses to the FR 
3016 will be kept confidential under exemption 6 of the Freedom of 
Information Act (``FOIA''),\3\ which protects information ``the 
disclosure of which would constitute a clearly unwarranted invasion of 
personal privacy.'' Individual responses to other data fields from the 
FR 3016 may be kept confidential on a case-by-case basis. The Board 
will consider whether information collected through these surveys may 
be kept confidential under FOIA exemption 6, or any other applicable 
FOIA exemption.
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    \3\ 5 U.S.C. 552(b)(6).
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    Current actions: On April 13, 2020, the Board published a notice in 
the Federal Register (85 FR 20495) requesting public comment for 60 
days

[[Page 43238]]

on the extension, without revision, of the Ongoing Intermittent Survey 
of Households. The comment period for this notice expired on June 12, 
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2020. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, July 13, 2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-15400 Filed 7-15-20; 8:45 am]
BILLING CODE 6210-01-P