Notice2021-18831
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 1, 2021
Issuing agencies
Federal Reserve System
Abstract
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.
Full Text
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<title>Federal Register, Volume 86 Issue 167 (Wednesday, September 1, 2021)</title>
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[Federal Register Volume 86, Number 167 (Wednesday, September 1, 2021)]
[Notices]
[Page 49031]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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 <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents are also available on the Federal
Reserve Board's public website at <a href="https://www.federalreserve.gov/apps/reportforms/review.aspx">https://www.federalreserve.gov/apps/reportforms/review.aspx</a> 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
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