Federal Register / Vol. 87, No. 107 / Friday, June 3, 2022 / Notices 33789 

1 12 U.S.C. 225a. 

2 12 U.S.C. 263. 

surveys will provide notice of issues 

with service, or focus attention on areas 

where communication, training or 

changes in operations might improve 

delivery of products or services. The 

surveys are not statistical surveys that 

yield quantitative results that can be 

generalized to the population of study. 

These collections will allow for 

ongoing, collaborative, and actionable 

communications between the Agency 

and its clients and stakeholders. It will 

also allow feedback to contribute 

directly to improve program 

management. Responses will be 

assessed to plan and inform efforts to 

improve or maintain the quality of 

service offered to the public. Collecting 

this information is critical for ensuring 

quality service offered to the public. 

Burden: FMCS receives 

approximately 7,100 responses per year 

and the time required is approximately 

one minute. 

II. Request for Comments 

FMCS solicits comments to: 

i. Evaluate whether the proposed 

collections of information are necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility. 

ii. Enhance the accuracy of the 

agency’s estimates of the burden of the 

proposed collection of information. 

iii. Enhance the quality, utility, and 

clarity of the information to be 

collected. 

iv. Minimize the burden of the 

collections of information on those who 

are to respond, including the use of 

appropriate automated, electronic 

collection technologies or other forms of 

information technology. 

III. 60-Day Comment Period 

This information was previously 

published in the Federal Register on 

March 30, 2022, allowing for a 60-day 

public comment period under 

Document 2022–06658 at 87 FR 18370. 

FMCS received no comments. 

IV. The Official Record 

The official records are electronic 

records. 

List of Subjects 

Labor-Management Relations. 

Dated: May 31, 2022. 

Anna Davis, 

Acting General Counsel. 

[FR Doc. 2022–11952 Filed 6–2–22; 8:45 am] 

BILLING CODE 6732–01–P 

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 Semiannual 

Report of Derivatives Activity (FR 2436; 

OMB No. 7100–0286). 

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. Boardapproved 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 

Collection title: Semiannual Report of 

Derivatives Activity. 

Collection identifier: FR 2436. 

OMB control number: 7100–0286. 

Frequency: Semiannually. 

Respondents: U.S. dealers of over-thecounter (OTC) derivatives. 

Estimated number of respondents: 8. 

Estimated average hours per response: 

236. 

Estimated annual burden hours: 

3,776. 

General description of report: The FR 

2436 collects derivatives market 

statistics from the eight largest U.S. 

dealers of OTC derivatives. Data are 

collected on the notional amounts and 

gross fair values of the volumes 

outstanding of broad categories of 

foreign exchange, interest rate, equity, 

commodity-linked, and credit default 

swap OTC derivatives contracts across a 

range of underlying currencies, interest 

rates, and equity markets. 

The FR 2436 is the U.S. portion of a 

global data collection conducted by 

central banks. The Bank for 

International Settlements (BIS), of 

which the Board is a member, compiles 

aggregate national data from each 

central bank to produce and publish 

global market statistics. The BIS survey 

has two parts: A Derivatives 

Outstanding survey and a Turnover 

(volume of transactions) survey. The FR 

2436 fulfills the Derivatives Outstanding 

portion and complements the triennial 

Central Bank Survey of Foreign 

Exchange and Derivatives Market 

Activity (FR 3036; OMB No. 7100– 

0285), which collects data on 

derivatives turnover for the Turnover 

portion of the survey. 

Legal authorization and 

confidentiality: The FR 2436 is 

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 (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.1 Under section 12A of the 

FRA, the FOMC is required to 

implement regulations relating to the 

open market operations conducted by 

Federal Reserve Banks. Those 

transactions must be governed with a 

view to accommodating commerce and 

business and with regard to their 

bearing upon the general credit situation 

of the country.2 The Board and the 

FOMC use the information obtained 

from the FR 2436 to help fulfill these 

obligations. The FR 2436 is voluntary. 

Aggregated FR 2436 data is compiled 

and forwarded to the BIS, which 

publishes global market statistics that 

are aggregates of national data from the 

Federal Reserve and other central banks. 

To the extent individual firm 

information collected on the FR 2436 


khammond on DSKJM1Z7X2PROD with NOTICES
33790 Federal Register / Vol. 87, No. 107 / Friday, June 3, 2022 / Notices 

3 5 U.S.C. 552(b)(4). 

1See U.S. Census Bureau, All Sectors: County 

Business Patterns, including ZIP Code Business 

Patterns, by Legal Form of Organization and 

Employment Size Class for the U.S., States, and 

Selected Geographies: 2019, available at https://

data.census.gov/cedsci/table?q=

CBP2019.CB1900CBP&n=44111%3A44112&tid=

CBP2019.CB1900CBP&hidePreview=true&nkd=

EMPSZES∼001,LFO∼001 (listing 21,427 

establishments for ‘‘new car dealers,’’ NAICS code 

44111, and 25,098 establishments for ‘‘used car 

dealers,’’ NAICS code 44112). 

2U.S. Dept. of Trans., Bureau of Trans. Stat., New 

and Used Passenger Car and Light Truck Sales and 

Leases, https://www.bts.gov/content/new-and-usedpassenger-car-sales-and-leases-thousands-vehicles 

(last visited Oct. 8, 2021) (listing 40,807,000 used 

vehicle sales in 2019). 

3Some dealers opt to contract with outside 

contractors to perform the various tasks associated 

with complying with the Rule. Staff assumes that 

outside contractors would require about the same 

amount of time and incur similar costs as dealers 

to perform these tasks. Accordingly, the hour and 

cost burden totals shown, while referring to 

‘‘dealers,’’ incorporate the time and cost borne by 

outside companies in performing the tasks 

associated with the Rule. 

4Buyers Guides are also available online from the 

FTC’s website, www.ftc.gov, at http://

business.ftc.gov/selected-industries/automobiles. 

constitutes nonpublic commercial or 

financial information, which is both 

customarily and actually treated as 

private by the respondent, it may be 

kept confidential under exemption 4 of 

the Freedom of Information Act, which 

exempts ‘‘trade secrets and commercial 

or financial information obtained from a 

person and privileged or confidential.’’ 3

If it should be determined that any 

information collected on the FR 2436 

must be released, other than in the 

aggregate in ways that will not reveal 

the amounts reported by any one 

institution, respondents will be notified. 

Current actions: On November 23, 

2021, the Board published a notice in 

the Federal Register (86 FR 66555) 

requesting public comment for 60 days 

on the extension, without revision, of 

the Semiannual Report of Derivatives 

Activity. The comment period for this 

notice expired on January 24, 2022. The 

Board did not receive any comments. 

Board of Governors of the Federal Reserve 

System, May 31, 2022. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2022–11985 Filed 6–2–22; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL TRADE COMMISSION 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Extension 

AGENCY: Federal Trade Commission. 

ACTION: Notice. 

SUMMARY: The Federal Trade 

Commission (‘‘FTC’’ or ‘‘Commission’’) 

is seeking public comment on its 

proposal to extend for an additional 

three years the current Paperwork 

Reduction Act (‘‘PRA’’) clearance for 

information collection requirements in 

its ‘‘Used Motor Vehicle Trade 

Regulation Rule’’ (‘‘Used Car Rule’’ or 

‘‘Rule’’), which applies to used vehicle 

dealers. That clearance expires on 

January 31, 2023. 

DATES: Comments must be filed by 

August 2, 2022. 

ADDRESSES: Interested parties may file a 

comment online or on paper, by 

following the instructions in the 

Request for Comment part of the 

SUPPLEMENTARY INFORMATION section 

below. Write ‘‘Used Car Rule, PRA 

Comment, FTC File No. [P137606]’’ on 

your comment, and file your comment 

online at https://www.regulations.gov by 

following the instructions on the webbased form. If you prefer to file your 

comment on paper, mail your comment 

to the following address: Federal Trade 

Commission, Office of the Secretary, 

600 Pennsylvania Avenue NW, Suite 

CC–5610 (Annex J), Washington, DC 

20580, or deliver your comment to the 

following address: Federal Trade 

Commission, Office of the Secretary, 

Constitution Center, 400 7th Street SW, 

5th Floor, Suite 5610 (Annex J), 

Washington, DC 20024. 

FOR FURTHER INFORMATION CONTACT: 

Elizabeth Scott, (312) 960–5609, 

Attorney, Midwest Region, Federal 

Trade Commission, 230 South Dearborn 

Street, Suite 3030, Chicago, IL 60604. 

SUPPLEMENTARY INFORMATION:

Title of Collection: The Used Car Rule, 

16 CFR part 455. 

OMB Control Number: 3084–0108. 

Type of Review: Extension without 

change of currently approved collection. 

Affected Public: Private Sector: 

Businesses and other for-profit entities. 

Estimated Annual Burden Hours: 

3,338,568. 

Estimated Annual Labor Costs: 

$60,628,394. 

Non-Labor Costs: $12,242,100. 

Abstract 

Under the PRA, 44 U.S.C. 3501–3521, 

Federal agencies must obtain OMB 

approval for each collection of 

information they conduct or sponsor. 

‘‘Collection of information’’ includes 

agency requests or requirements to 

submit reports, keep records, or provide 

information to a third party. 44 U.S.C. 

3502(3); 5 CFR 1320.3(c). As required by 

section 3506(c)(2)(A) of the PRA, the 

FTC is providing this opportunity for 

public comment before requesting that 

OMB extend the existing paperwork 

clearance for the Used Car Rule, 16 CFR 

part 455 (OMB Control Number 3084– 

0108). 

The Used Car Rule promotes informed 

purchasing decisions by requiring that 

used car dealers display a form called a 

‘‘Buyers Guide’’ on each used car 

offered for sale that, among other things, 

discloses information about warranty 

coverage and other information to assist 

purchasers. The Rule has no 

recordkeeping or reporting 

requirements. The FTC seeks clearance 

for the Rule’s disclosure requirements 

and the estimated PRA burden for those 

requirements. 

Burden Statement 

Estimated total annual hours burden: 

3,338,568. 

As explained in more detail below, 

this total is based on estimates of the 

number of new car and used car dealers 

that sell used cars (46,525 1), the number 

of used cars sold by dealers annually 

(approximately 40,807,000 2), and the 

time needed to fulfill the information 

collection tasks required by the Rule.3

The Rule requires that used car 

dealers display a one-page, double-sided 

Buyers Guide on each used car that they 

offer for sale. The component tasks 

associated with the Rule’s required 

display of Buyers Guides include: (1) 

Ordering and stocking Buyers Guides; 

(2) entering data on Buyers Guides; (3) 

displaying the Buyers Guides on 

vehicles; (4) revising Buyers Guides as 

necessary; and (5) complying with the 

Rule’s requirements for sales conducted 

in Spanish. 

1. Ordering and Stocking Buyers 

Guides: Dealers should need no more 

than an average of two hours per year 

to obtain Buyers Guides, which are 

readily available from many commercial 

printers or can be produced by an office 

word-processing or desktop publishing 

system.4 Based on an estimated 

population of 46,525 dealers, the annual 

hours burden for producing or obtaining 

and stocking Buyers Guides is 93,050 

hours (46,525 dealers × 2 minutes). 

2. Entering Data on Buyers Guides: 

The amount of time required to enter 

applicable data on Buyers Guides may 

vary substantially, depending on 

whether a dealer has automated the 

process. For used cars sold ‘‘as is,’’ 

copying vehicle-specific data from 

dealer inventories to Buyers Guides and 

checking the ‘‘No Warranty’’ box may 

take two to three minutes per vehicle if 

done by hand, and only seconds for 

those dealers who have automated the 


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