Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB, 49031 [2021-18831]

Agencies

• FEDERAL RESERVE SYSTEM

[Federal Register Volume 86, Number 167 (Wednesday, September 1, 2021)]
[Notices]
[Page 49031]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-18831]


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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 
Census of Finance Companies and Other Lenders and the Survey of Finance 
Companies (FR 3033p and FR 3033s; OMB No. 7100-0277). The revisions are 
effective immediately.

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 for the Federal 
Reserve Board, 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.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (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. The OMB inventory, as well as copies of the 
PRA Submission, supporting statements, and approved collection of 
information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also 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.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, With Revision, of the Following Information Collections

    Report title: Census of Finance Companies and Other Lenders.
    Agency form number: FR 3033p.
    OMB control number: 7100-0227.
    Effective Date: The revisions are effective immediately.
    Frequency: Quinquennially.
    Respondents: Finance Companies.
    Estimated number of respondents: 12,800.
    Estimated average hours per response: 0.33.
    Estimated annual burden hours: 4,224.
    General description of report: The FR 3033p is a census survey 
designed to identify the universe of finance companies eligible for 
potential inclusion in the FR 3033s and to enable the stratification of 
the sample for more statistically efficient estimation. The FR 3033p is 
currently composed of seven questions to assess the company's asset 
size, level of loan and lease activity, company structure, and 
licensing authority.
    Report title: Survey of Finance Companies.
    Agency form number: FR 3033s.
    OMB control number: 7100-0227.
    Effective Date: The revisions are effective immediately.
    Frequency: Quinquennially.
    Respondents: Finance Companies.
    Estimated number of respondents: 900.
    Estimated average hours per response: 1.
    Estimated annual burden hours: 900.
    General description of report: From the universe of finance 
companies identified by the Census of Finance Companies and Other 
Lenders (FR 3033p), a sample of finance companies will be invited to 
fill out FR 3033s. From these finance companies, the FR 3033s collects 
balance sheet data on major categories of consumer and business credit 
receivables and major liabilities. In addition, the survey may be used 
to gather information on topics that are pertinent to increasing the 
Federal Reserve's understanding of the finance companies.
    Legal authorization and confidentiality: The FR 3033p and FR 3033s 
are authorized pursuant to 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 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\ 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.\2\ Information 
collected from the FR 3033p and FR 3033s is used to fulfill these 
obligations.
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    \1\ 12 U.S.C. 225a.
    \2\ 12 U.S.C. 263.
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    The FR 3033p and FR 3033s are voluntary. The information collected 
pursuant to the FR 3033p and FR 3033s may be treated as confidential 
pursuant to exemption 4 of the Freedom of Information Act,\3\ which 
protects information that is both customarily and actually treated as 
private by the respondent.
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    \3\ 5 U.S.C. 552(b)(4).
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    Current actions: On May 25, 2021, the Board published a notice in 
the Federal Register (86 FR 28105) requesting public comment for 60 
days on the extension, with revision, of the Census of Finance 
Companies and Survey of Finance Companies. Board staff proposed 
revising the FR 3033s to improve clarity, simplify the form overall, 
and collect additional information on the COVID-19 impacts on lending 
activities. The Board did not propose any revisions to the FR 3033p. 
The FR 3033s revisions are effective for the proposed September 2021 
survey date. The comment period for this notice expired on July 26, 
2021. The Board did not receive any comments. The revisions will be 
implemented as proposed.


    Board of Governors of the Federal Reserve System, August 26, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-18831 Filed 8-31-21; 8:45 am]
BILLING CODE 6210-01-P