Notice2022-13388
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
June 23, 2022
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, 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 87 Issue 120 (Thursday, June 23, 2022)</title>
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[Federal Register Volume 87, Number 120 (Thursday, June 23, 2022)]
[Notices]
[Pages 37513-37514]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-13388]
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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
Senior Credit Officer Opinion Survey on Dealer Financing Terms (FR
2034; OMB No. 7100-0325).
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
[[Page 37514]]
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, Without Revision, of the Following Information Collection
Collection title: Senior Credit Officer Opinion Survey on Dealer
Financing Terms.
Collection identifier: 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.
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 transactions'' 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. To the extent 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 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).
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Current actions: On December 3, 2021, the Board published a notice
in the Federal Register (86 FR 68666) requesting public comment for 60
days on the extension, without revision, of the Senior Credit Officer
Opinion Survey on Dealer Financing. The comment period for this notice
expired on February 1, 2022. The Board did not receive any comments.
Board of Governors of the Federal Reserve System, June 16, 2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-13388 Filed 6-22-22; 8:45 am]
BILLING CODE 6210-01-P
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