Proposed Agency Information Collection Activities; Comment Request, 65045-65046 [2020-22721]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 85, Number 199 (Wednesday, October 14, 2020)]
[Notices]
[Pages 65045-65046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22721]



[[Page 65045]]

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

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, without 
revision, the Senior Loan Officer Opinion Survey on Bank Lending 
Practices (FR 2018; OMB No. 7100-0058).

DATES: Comments must be submitted on or before December 14, 2020.

ADDRESSES: You may submit comments, identified by FR 2018, 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, 725 17th Street NW, 
Washington, DC 20503, or by fax to (202) 395-6974.

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.

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.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at https://www.reginfo.gov/public/do/PRAMain, 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 above.

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, 
Without Revision, the Following Information Collection

    Report title: Senior Loan Officer Opinion Survey on Bank Lending 
Practices.
    Agency form number: FR 2018.
    OMB control number: 7100-0058.
    Frequency: Up to six times a year.
    Respondents: Domestically chartered large commercial banks and 
large U.S. branches and agencies of foreign banks.
    Estimated number of respondents: Main surveys, 104; Special 
surveys, 104.
    Estimated average hours per response: 2 hours.
    Estimated annual burden hours: Main surveys, 832; Special surveys, 
416.
    General description of report: The FR 2018 is conducted with a 
senior loan officer at each respondent bank, generally through 
electronic submission, up to six times a year. The purpose of the 
survey is to provide qualitative and limited quantitative information 
on credit availability and demand, as well as evolving developments and 
lending practices in the U.S. loan markets. A portion of each survey 
typically covers special topics of timely interest. There is the option 
to survey other types of respondents (such as other depository 
institutions, bank holding companies, or other financial entities) 
should the need arise. The FR 2018 survey provides crucial information 
for monitoring and understanding the evolution of lending practices at 
banks and developments in credit markets.
    Legal authorization and confidentiality: Section 2A of the Federal 
Reserve Act (FRA) requires the Federal Reserve Board and the Federal 
Open Market Committee (FOMC) to 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 \1\ and section 12A of the FRA requires the FOMC 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\ Because the

[[Page 65046]]

Board and the FOMC use the information obtained from the FR 2018 to 
fulfill these obligations, these statutory provisions provide the legal 
authorization for the collection of information on the FR 2018. In 
addition, section 11 of the FRA, which permits the Federal Reserve 
Board to examine at its discretion the accounts, books, and affairs of 
each Federal Reserve Bank and each member bank and to require such 
statements and reports as it may deem necessary, authorizes the 
collection of information from depository institutions \3\ and section 
7 of the International Banking Act authorizes the collection of 
information from branches and agencies of foreign banks.\4\ Survey 
submissions under the FR 2018 are voluntary.
---------------------------------------------------------------------------

    \1\ 12 U.S.C. 225a.
    \2\ 12 U.S.C. 263.
    \3\ 12 U.S.C. 248(a).
    \4\ 12 U.S.C. 3105(c)(2).
---------------------------------------------------------------------------

    Although the specific questions to be asked on each survey have not 
yet been formulated, the questions are designed to obtain information 
that is customarily and actually treated as private by the institution. 
Thus, the individual survey responses from each respondent may be held 
confidential under exemption (4) of the Freedom of Information Act.\5\ 
However, certain data from the survey is publically reported in 
aggregate form, and the information in aggregate form is made publicly 
available and not considered confidential.
---------------------------------------------------------------------------

    \5\ 5 U.S.C. 552(b)(4)

    Board of Governors of the Federal Reserve System, October 8, 
2020.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2020-22721 Filed 10-13-20; 8:45 am]
BILLING CODE 6210-01-P