Notice2022-19781
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
September 13, 2022
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, with revision, the Payment Systems Surveys (OMB No. 7100-0332).
Full Text
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<title>Federal Register, Volume 87 Issue 176 (Tuesday, September 13, 2022)</title>
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[Federal Register Volume 87, Number 176 (Tuesday, September 13, 2022)]
[Notices]
[Pages 56053-56054]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-19781]
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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, with revision,
the Payment Systems Surveys (OMB No. 7100-0332).
DATES: Comments must be submitted on or before November 14, 2022.
ADDRESSES: You may submit comments, identified by FR 3054, 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#9deff8faeeb3fef2f0f0f8f3e9eeddfbf8f9f8effcf1eff8eef8efebf8b3faf2eb"><span class="__cf_email__" data-cfemail="1f6d7a786c317c7072727a716b6c5f797a7b7a6d7e736d7a6c7a6d697a31787069">[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: Federal Reserve Board of Governors, Attn: Ann E.
Misback, Secretary of the Board, Mailstop M-4775, 2001 C St. 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
M-4365A, 2001 C St. NW, Washington, DC 20551, 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, <a href="/cdn-cgi/l/email-protection#402e3528216e252c2d21272832212229002632226e272f36"><span class="__cf_email__" data-cfemail="78160d1019561d1415191f100a191a11381e0a1a561f170e">[email protected]</span></a>, (202)
452-3884.
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, With
Revision, the Following Information Collection
Collection title: Payment Systems Surveys.
Collection identifier: FR 3054.
OMB control number: 7100-0332.
Frequency: FR 3054a, five times per year; FR 3054b, annually; FR
3054c, semi-annually; FR 3054d, five times per year; and FR 3054e, ten
times per year.
Respondents: The FR 3054 panel comprises financial institutions
(including depository institutions), law enforcement, nonfinancial
businesses (retailers, banknote equipment manufacturers, or global
wholesale bank note dealers), and individuals within the general
public.
Estimated number of respondents: FR 3054a, 4,000; FR 3054b, 500; FR
3054c, 25; FR 3054d, 250; and FR 3054e, 250.
Estimated average hours per response: FR 3054a, 0.75; FR 3054b,
0.50; FR 3054c, 30; FR 3054d, 2.5; and FR 3054e, 0.50.
Estimated annual burden hours: FR 3054a, 15,000; FR 3054b, 250; FR
3054c, 1,500; FR 3054d, 3,125; and FR 3054e, 1,250.
General description of collection: The Payment Systems Surveys are
used to
[[Page 56054]]
obtain information specifically tailored to the Federal Reserve's
operational and fiscal agency responsibilities. The Payment Systems
Surveys family of surveys is currently comprised of the following: Ad
Hoc Payment Systems Surveys (FR 3054a), Currency Quality Sampling
Survey (FR 3054b), Currency Quality Survey (FR 3054c), Currency
Functionality and Perception Survey (FR 3054d), and Currency Education
Usability Survey (FR 3045e).
Proposed revisions: The Board proposes to increase the estimated
respondents for the FR 3054b from 300 to 500, increase the estimated
frequency for the FR 3054d from four times a year to five times a year,
and increase the estimated frequency from five times a year to ten
times a year and decrease the estimated number of respondents from 500
to 250 for the FR 3054e. The increase in the frequency of surveys
allows the Federal Reserve System flexibility to respond to diverse
needs for data by surveying groups of respondents multiple times
throughout a year. Increasing the number of estimated respondents of
the FR 3054b will help ensure statistical significance of the sample
pool and decreasing the estimated number of respondents while
increasing the frequency of the FR 3054e will facilitate more survey
agility. Additionally, the FR 3054c has not changed since 2018 and no
changes are anticipated during the current clearance cycle. The FR
3054c is therefore being transitioned from an ad hoc to an established
collection.
Legal authorization and confidentiality: Section 11(d) \1\ of the
Federal Reserve Act (``FRA'') authorizes the Board to ``supervise and
regulate through the Secretary of the Treasury the issue and retirement
of Federal reserve notes, except for the cancellation and destruction,
and accounting with respect to such cancellation and destruction, of
notes unfit for circulation, and to prescribe rules and regulations
under which such notes may be delivered by the Secretary of the
Treasury to the Federal reserve agents applying therefor.'' Section 11A
\2\ of the FRA requires the Board to put into effect a schedule of fees
for Federal Reserve bank services to depository institutions based on
specified principles, including that such fees be based on the direct
and indirect costs actually incurred in providing these services.
Section 13 \3\ of the FRA authorizes, among other things, Federal
Reserve Banks to provide a variety of payments services. Section 16 \4\
of the FRA authorizes the Board to take a variety of actions related to
the issuance and management of Federal Reserve notes. The information
obtained from the FR 3054 may be used in support of the Board's role in
overseeing the Federal Reserve Banks' provision of financial services
to depository institutions; developing policies and regulations to
foster the efficiency and integrity of the U.S. payment system; working
with other central banks and international organizations to improve the
payment system more broadly; conducting research on payments issues;
and working with other federal agencies on currency design, quality
issues, and to educate the global public on the security features of
Federal Reserve notes. Therefore, the FR 3054 is authorized pursuant to
the Board's authority under Sections 11(d), 11A, 13, and 16 of the FRA.
The FR 3054 is voluntary.
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\1\ 12 U.S.C. 248(d).
\2\ 12 U.S.C. 248a.
\3\ 12 U.S.C. 342.
\4\ 12 U.S.C. 411, 412, 413, 414, 415, 416, 417, 420, 422.
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The questions asked on each survey would vary, so the ability of
the Board to maintain the confidentiality of information collected
would be determined on a case-by-case basis. To the extent a respondent
submits nonpublic commercial or financial information, which is both
customarily and actually treated as private by the respondent, the
respondent may request confidential treatment pursuant to exemption 4
of the Freedom of Information Act (FOIA).\5\ In circumstances where the
Board collects information related to individuals, exemption 6 to the
FOIA would protect information ``the disclosure of which would
constitute a clearly unwarranted invasion of personal privacy.'' \6\ To
the extent the information collected relates to examination, operating,
or condition reports prepared for the use of an agency supervising
financial institutions, such information may be kept confidential under
exemption 8 to the FOIA.
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\5\ 5 U.S.C. 552(b)(4).
\6\ 5 U.S.C. 552(b)(6).
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Consultation outside the agency: The Board may consult with,
collaborate with, or jointly conduct surveys with other agencies within
the U.S. Currency Program to include the System banks, the United
States Secret Service, Department of Treasury, and Treasury's Bureau of
Engraving and Printing.
Board of Governors of the Federal Reserve System, September 8,
2022.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2022-19781 Filed 9-12-22; 8:45 am]
BILLING CODE 6210-01-P
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