[Federal Register Volume 86, Number 21 (Wednesday, February 3, 2021)]
[Notices]
[Pages 8012-8013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02203]


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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 Loan Officer Opinion Survey on Bank Lending Practices (FR 2018; 
OMB No. 7100-0058).

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.

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. 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.

[[Page 8013]]

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, Without Revision, of 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.
    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 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 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.
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    \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).
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    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.
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    \5\ 5 U.S.C. 552(b)(4).
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    Current actions: On October 14, 2020, the Board published a notice 
in the Federal Register (85 FR 65045) requesting public comment for 60 
days on the extension, without revision, of the FR 2018. The comment 
period for this notice expired on December 14, 2020. The Board did not 
receive any comments.

    Board of Governors of the Federal Reserve System, January 28, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-02203 Filed 2-2-21; 8:45 am]
BILLING CODE 6210-01-P