Notice2021-26320
Proposed Agency Information Collection Activities; Comment Request
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
December 3, 2021
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) invites comment on a proposal to extend for three years, without revision, the Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR 2034; OMB No. 7100-0325).
Full Text
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<title>Federal Register, Volume 86 Issue 230 (Friday, December 3, 2021)</title>
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[Federal Register Volume 86, Number 230 (Friday, December 3, 2021)]
[Notices]
[Pages 68666-68667]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-26320]
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FEDERAL RESERVE SYSTEM
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Notice, request for comment.
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SUMMARY: The Board of Governors of the Federal Reserve System (Board)
invites comment on a proposal to extend for three years, without
revision, the Senior Credit Officer Opinion Survey on Dealer Financing
Terms (FR 2034; OMB No. 7100-0325).
DATES: Comments must be submitted on or before February 1, 2022.
ADDRESSES: You may submit comments, identified by FR 2034, by any of
the following methods:
<bullet> Agency Website: <a href="https://www.federalreserve.gov/">https://www.federalreserve.gov/</a>. Follow
the instructions for submitting comments at <a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a>.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#53213634207d303c3e3e363d2720133536373621323f213620362125367d343c25"><span class="__cf_email__" data-cfemail="0a786f6d7924696567676f647e794a6c6f6e6f786b66786f796f787c6f246d657c">[email protected]</span></a>. Include the OMB
number or FR number in the subject line of the message.
<bullet> FAX: (202) 452-3819 or (202) 452-3102.
<bullet> Mail: Ann E. Misback, 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 website at
<a href="https://www.federalreserve.gov/apps/foia/proposedregs.aspx">https://www.federalreserve.gov/apps/foia/proposedregs.aspx</a> as
submitted, unless modified for technical reasons or to remove
personally identifiable information at the commenter's request.
Accordingly, comments will not be edited to remove any confidential
business information, identifying information, or contact information.
Public comments may also be viewed electronically or in paper in Room
146, 1709 New York Avenue NW, Washington, DC 20006, between 9:00 a.m.
and 5:00 p.m. on weekdays. For security reasons, the Board requires
that visitors make an appointment to inspect comments. You may do so by
calling (202) 452-3684. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
Additionally, commenters may send a copy of their comments to the
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.
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.
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. In exercising this delegated authority, the
Board is directed to take every reasonable step to solicit comment. In
determining whether to approve a collection of information, the Board
will consider all comments received from the public and other agencies.
During the comment period for this proposal, a copy of the proposed
PRA OMB submission, including the draft reporting form and
instructions, supporting statement, and other documentation, will be
made available on the 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
versions of these documents will be made available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>, if approved.
Request for Comment on Information Collection Proposal
The Board invites public comment on the following information
collection, which is being reviewed under authority delegated by the
OMB under the PRA. Comments are invited on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Board's functions, including whether the
information has practical utility;
b. The accuracy of the Board'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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which the Board
should modify the proposal.
Proposal Under OMB Delegated Authority To Extend for Three Years,
Without Revision, the Following Information Collection
Report title: Senior Credit Officer Opinion Survey on Dealer
Financing Terms.
Agency form number: FR 2034.
OMB control number: 7100-0325.
Frequency: Quarterly.
Respondents: The current reporting panel consists of U.S. banking
institutions and U.S. branches and agencies of foreign banks, the
majority of which are affiliated with a Primary Government Securities
Dealer.\1\ Other types of respondents, such as other depository
institutions, bank holding companies, or other financial entities, may
be surveyed when appropriate. Respondents may also include institutions
that, while not primary dealers, play a significant role in over-the-
counter derivatives or securities financing activities.
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\1\ A list of the current Primary Dealers in Government
Securities is available at <a href="https://www.newyorkfed.org/markets/primarydealers.html">https://www.newyorkfed.org/markets/primarydealers.html</a>.
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Estimated number of respondents: 25.
Estimated average hours per response: 5.
Estimated annual burden hours: 500.
[[Page 68667]]
General description of report: This survey collects qualitative and
limited quantitative information from senior credit officers at
responding financial institutions on (1) stringency of credit terms,
(2) credit availability and demand across the entire range of
securities financing and over-the-counter derivatives transactions, and
(3) the evolution of market conditions and conventions applicable to
such activities. The FR 2034 survey is conducted quarterly, along with
the Senior Loan Officer Opinion Survey on Bank Lending Practices (FR
2018; OMB No. 7100-0058). The survey contains 79 core questions divided
into three broad sections, as well as additional questions on topics of
timely interest.
Legal authorization and confidentiality: The FR 2034 is authorized
by sections 2A and 12A of the Federal Reserve Act (FRA).\2\ 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.\3\
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.\4\ The Board and FOMC use the information obtained through the
FR 2034 to discharge these responsibilities.
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\2\ 12 U.S.C. 1828(c). The Board also has the authority to
require reports from state member banks (12 U.S.C. 248(a) and 324).
\3\ 12 U.S.C. 225a.
\4\ 12 U.S.C. 263.
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Responding to the FR 2034 is voluntary. The information contained
in responses to the core questions of the FR 2034 is nonpublic
commercial or financial information, which is both customarily and
actually treated as private by the respondent. The Board therefore may
keep such information confidential pursuant to exemption 4 of the
Freedom of Information Act (FOIA).\5\ Supplemental questions asked on
each survey may vary, and the Board's ability to keep confidential
responses to such questions must therefore be determined on a case-by-
case basis. Responses to supplemental questions may contain nonpublic
commercial information that may be kept confidential by the Board
pursuant to exemption 4 of the FOIA. Some such responses may also
contain information contained in or related to an examination of a
financial institution, which may be kept confidential under exemption 8
of the FOIA.\6\
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\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(8).
Board of Governors of the Federal Reserve System, November 29,
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-26320 Filed 12-2-21; 8:45 am]
BILLING CODE 6210-01-P
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