[Federal Register Volume 80, Number 48 (Thursday, March 12, 2015)]
[Notices]
[Pages 13001-13002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-05632]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act (PRA), 
pursuant to 5 CFR 1320.16, to approve of and assign OMB control numbers 
to collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. Copies of the Paperwork Reduction Act 
Submission, supporting statements and approved collection of 
information instruments are placed into OMB's public docket files. The 
Federal Reserve may not conduct or sponsor, and the respondent is not 
required to respond to, an information collection that has been 
extended, revised, or implemented on or after October 1, 1995, unless 
it displays a currently valid OMB control number.

DATES: Comments must be submitted on or before May 11, 2015.

ADDRESSES: You may submit comments, identified by FR 2502q, FR 2835, or 
FR 3033p by any of the following methods:
    <bullet> Agency Web site: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at http://www.federalreserve.gov/apps/foia/proposedregs.aspx.
    <bullet> Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#691b0c0e1a470a0604040c071d1a290f0c0d0c1b08051b0c1a0c1b1f0c470e061f"><span class="__cf_email__" data-cfemail="d7a5b2b0a4f9b4b8babab2b9a3a497b1b2b3b2a5b6bba5b2a4b2a5a1b2f9b0b8a1">[email protected]</span></a>. Include OMB 
number in the subject line of the message.
    <bullet> FAX: (202) 452-3819 or (202) 452-3102.
    <bullet> Mail: Robert deV. Frierson, 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 Web site at 
http://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information. Public 
comments may also be viewed electronically or in paper form in Room MP-
500 of the Board's Martin Building (20th and C Streets NW.) between 
9:00 a.m. and 5:00 p.m. on weekdays.
    Additionally, commenters may send a copy of their comments to the 
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: A copy of the PRA OMB submission, 
including the proposed reporting form and instructions, supporting 
statement, and other documentation will be placed into OMB's public 
docket files, once approved. These documents will also be made 
available on the Federal Reserve Board's public Web site at: http://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears below.
    Federal Reserve Board Acting Clearance Officer--Mark Tokarski--
Office of the Chief Data Officer, Board of Governors of the Federal 
Reserve System, Washington, DC 20551 (202) 452-3829. Telecommunications 
Device for the Deaf (TDD) users may contact (202) 263-4869, Board of 
Governors of the Federal Reserve System, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: 

Request for Comment on Information Collection Proposals

    The following information collections, which are being handled 
under this delegated authority, have received initial Board approval 
and are hereby published for comment. At the end of the comment period, 
the proposed information collections, along with an analysis of 
comments and recommendations received, will be submitted to the Board 
for final approval under OMB delegated authority. Comments are invited 
on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve'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 start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Proposal to approve under OMB delegated authority the extension for 
three years, with revision, of the following reports:
    1. Report title: Quarterly Report of Assets and Liabilities of 
Large Foreign Offices of U.S. Banks.
    Agency form number: FR 2502q.
    OMB control number: 7100-0079.
    Frequency: Quarterly.
    Reporters: Major foreign branches and banking subsidiaries of U.S. 
depository institutions that are located in the Caribbean or the United 
Kingdom.
    Estimated annual reporting hours: 124 hours.

[[Page 13002]]

    Estimated average hours per response: 1 hour.
    Number of respondents: 31.
    General description of report: This information collection is 
required (12 U.S.C. 248(a)(2), 461, 602, and 625).
    Abstract: U.S. commercial banks, bank holding companies, including 
financial holding companies, and banking Edge and agreement 
corporations (U.S. banks) are required to file this reporting form for 
their large branches and banking subsidiaries that are located in the 
United Kingdom or the Caribbean. The FR 2502q collects, for each 
reporting office, claims on and liabilities to residents of individual 
countries as of each quarter-end. The data are used to construct a 
piece of the flow of funds data that are compiled by the Federal 
Reserve.
    Current Actions: The Federal Reserve proposes to significantly 
revise the FR 2502q report form by eliminating most of the geographic 
information collected on the form. Specifically, staff proposes to 
delete all individual countries from the form, except for the United 
States. As a result, the body of the form would consist of two rows, 
with assets and liabilities reported for customers in the United States 
and for ``Total, all areas,'' the latter being simply total assets and 
liabilities of the reporting offices. The retention of these two rows 
allows the continued used of the report to better understand how banks 
use their offices in the Caribbean and the United Kingdom as conduits 
for funds to or from outside the United States. The memoranda section 
would be retained without changes, allowing its continued use in flow 
of funds data.
    The Federal Reserve also proposes to clarify in the instructions 
that (1) a reporter should begin filing the report for a branch or 
subsidiary as of the report date when the branch or subsidiary meets 
the reporting criteria, and (2) for subsidiaries, the report should be 
filed on a parent only basis.
    With the elimination of geographic detail from the report, the 
Federal Reserve would discontinue the E.11 Statistical Release, the 
``Geographical Distribution of Assets and Liabilities of Major Foreign 
Branches and Subsidiaries of U.S. Banks,'' which publishes aggregate 
data from the FR 2502q.
    Given the greatly reduced detail in the report, individual reports 
will no longer be considered confidential unless comments are received 
providing a reasonable rationale for continued confidentiality.
    2. Report title: Quarterly Report of Interest Rates on Selected 
Direct Consumer Installment Loans and Quarterly Report of Credit Card 
Plans.\1\
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    \1\ This family of reports also contains the voluntary 
Automobile Finance Company Report (FR 2512), which has fewer than 10 
respondents and does not require an OMB control number. The Federal 
Reserve also proposes to discontinue the FR 2512.
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    Agency form number: FR 2835; FR 2835a.
    OMB control number: 7100-0085.
    Frequency: Quarterly.
    Reporters: Commercial banks.
    Estimated annual reporting hours: FR 2835: 176 hours; FR 2835a: 100 
hours.
    Estimated average hours per response: FR 2835: .29 hours; FR 2835a: 
.50 hours.
    Number of respondents: FR 2835: 150; FR 2835a: 50.
    General description of report: These information collections are 
authorized by Sections 2A, 11, and 12A of the Federal Reserve Act and 
are voluntary (12 U.S.C. 225a, 248(a)(2), 263, 348a and 353-359). 
Information requested on the FR 2835 is not confidential and 
respondents are made aware that information reported is made available 
to the public. Aggregate information collected on the FR 2835a is not 
considered confidential; however, individual respondent data is 
considered confidential under section (b)(4) of the Freedom of 
Information Act. (5 U.S.C. 552(b)(4)).
    Abstract: The FR 2835 collects information from a sample of 
commercial banks on interest rates charged on loans for new vehicles 
and loans for other consumer goods and personal expenses. The data are 
used for the analysis of household financial conditions.
    The FR 2835a collects information on two measures of credit card 
interest rates from a sample of commercial banks with $1 billion or 
more in credit card receivables and a representative group of smaller 
issuers. The data are used to analyze the credit card market and draw 
implications for the household sector.
    Current Actions: The Federal Reserve proposes to revise the FR 2835 
by adding a data item to collect information on new (72-month) 
automobile loans. This change is motivated by the need to better 
understand market developments, such as the growing popularity of the 
72-month maturity.
    3. Report title: Census of Finance Companies.
    Agency form number: FR 3033p.
    OMB control number: 7100-0277.
    Frequency: Every five years.
    Reporters: Domestic finance companies.
    Estimated annual reporting hours: 8,000 hours.
    Estimated average hours per response: .5 hours.
    Number of respondents: 16,000.
    General description of report: This information collection is 
authorized by law (12 U.S.C. 225a, 263, 348a, and 353-359) and is 
voluntary. Individual responses are exempt from disclosure pursuant to 
section (b)(4) of the Freedom of Information Act (5 U.S.C. 552).
    Abstract: The Census of Finance Companies is a simple screening 
survey, which would be sent in June 2015 to all companies that meet 
criteria developed to identify the potential universe of domestic 
finance companies. An accurate census is required to form a 
representative sample of finance companies, to which the more detailed 
Survey of Finance Companies would be sent. The census would gather 
limited information including total assets, areas of specialization, 
and information on the corporate structure of the companies. The 
Federal Reserve has identified approximately 40,000 firms to which the 
census would be sent.
    Current Actions: The Federal Reserve proposes to increase the 
respondent panel size, revise the survey to collect information needed 
to determine whether a company meets the FR 3033 definition of a 
finance company, solicit information on the types of credit or 
financing that a company offers, and make minor modifications to the 
survey design.

    Board of Governors of the Federal Reserve System, March 9, 2015.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2015-05632 Filed 3-11-15; 8:45 am]
 BILLING CODE 6210-01-P


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