[Federal Register Volume 87, Number 33 (Thursday, February 17, 2022)]
[Notices]
[Pages 9053-9054]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-03472]


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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 
Domestic Finance Company Report of Consolidated Assets and Liabilities 
(FR 2248; OMB No. 7100-0005).

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

[[Page 9054]]

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, Without Revision, of the Following Information Collection

    Report title: Domestic Finance Company Report of Consolidated 
Assets and Liabilities.
    Agency form number: FR 2248.
    OMB control number: 7100-0005.
    Frequency: Monthly, quarterly, as needed.
    Respondents: Finance companies.\1\
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    \1\ Finance companies include companies in which 50 percent or 
more of assets are held in any of the following types of loan or 
lease assets: (1) Liens on real estate, defined as outstanding 
balances on loans or leases, for any purpose, secured by liens on 
real estate; (2) loans and leases not secured by real estate, such 
as business loans and leases, defined as outstanding balances on 
loans and on leases for commercial and industrial purposes to sole 
proprietorships, partnerships, corporations, and other business 
enterprises; or consumer loans and leases defined as outstanding 
balances on loans and on leases for household, family, and other 
personal expenditures.
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    Estimated number of respondents: Monthly, 150; Quarterly, 150; 
Addendum; 150.
    Estimated average minutes per response: Monthly, 20; Quarterly, 30; 
Addendum, 10.
    Estimated annual burden hours: Monthly, 400; Quarterly, 300; 
Addendum; 50.
    General description of report: The FR 2248 is collected monthly as 
of the last calendar day of the month from a stratified sample \2\ of 
finance companies. Each monthly report collects balance sheet data on 
major categories of consumer and business credit receivables and on 
major short-term liabilities. For quarter-end months (March, June, 
September, and December), additional asset and liability items are 
collected to provide a full balance sheet. A supplemental section 
collects data on securitized assets. Board staff may ask either 
quantitative or qualitative questions through the use of a special 
addendum section no more than twice per year. The data are used to 
construct universe estimates of finance company holdings, which are 
published in the monthly statistical releases Finance Companies (G.20) 
and Consumer Credit (G.19) and in the quarterly statistical release 
Financial Accounts of the United States (Z.1).\3\
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    \2\ Potential universe of respondents is identified by the 
quinquennial Census of Finance Companies (FR 3033p) and Survey of 
Finance Companies (FR 3033s) (OMB No.7100-0277). More details can be 
found in the OMB supporting statement.
    \3\ See https://www.federalreserve.gov/econresdata/statisticsdata.htm.
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    Legal authorization and confidentiality: The FR 2248 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 maximum 
employment, stable prices, and moderate long-term interest rates.'' \4\ 
Section 12A of the FRA further 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.'' \5\ The Board and FOMC use the information obtained through 
the FR 2248 to discharge these responsibilities. The FR 2248 is 
voluntary.
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    \4\ 12 U.S.C. 225a.
    \5\ 12 U.S.C. 263.
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    Although the Board releases aggregate data derived from the FR 2248 
in the monthly G.20 and G.19 statistical releases, and in the quarterly 
Z.1 statistical release, individual finance company information 
provided by each respondent is generally treated as confidential. 
Information collected on the FR 2248 is likely to constitute nonpublic 
commercial or financial information, which is both customarily and 
actually treated as private by the respondent. Accordingly, such 
information may be kept confidential by the Board pursuant to exemption 
4 of the Freedom of Information Act.\6\ If it should be determined that 
any information collected on the FR 2248 must be released, respondents 
would be notified.
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    \6\ 5 U.S.C. 552(b)(4).
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    Current Actions: On November 4, 2021, the Board published a notice 
in the Federal Register (86 FR 608019) requesting public comment for 60 
days on the extension, without revision, of the Domestic Branch 
Application. The comment period for this notice expired on January 3, 
2022. The Board did not receive any comments.

    Board of Governors of the Federal Reserve System, February 14, 
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-03472 Filed 2-16-22; 8:45 am]
BILLING CODE 6210-01-P