Notice2024-07091
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
April 3, 2024
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 Quarterly Report of Interest Rates on Selected Direct Consumer Installment Loans and the Quarterly Report of Credit Card Plans (FR 2835 and FR 2835a; OMB No. 7100-0085).
Full Text
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<title>Federal Register, Volume 89 Issue 65 (Wednesday, April 3, 2024)</title>
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[Federal Register Volume 89, Number 65 (Wednesday, April 3, 2024)]
[Notices]
[Pages 23018-23019]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-07091]
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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
Quarterly Report of Interest Rates on Selected Direct Consumer
Installment Loans and the Quarterly Report of Credit Card Plans (FR
2835 and FR 2835a; OMB No. 7100-0085).
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="117f6479703f747d7c70767963707378517763733f767e67">[email protected]</span></a>, (202) 452-3884.
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 (which contain more detailed
information about the information collections and burden estimates than
this notice), 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/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</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: Quarterly Report of Interest Rates on Selected
Direct Consumer Installment Loans and the Quarterly Report of Credit
Card Plans.
Collection identifier: FR 2835 and FR 2835a.
OMB control number: 7100-0085.
General description of collection: The FR 2835 collects information
on interest rates on loans for new vehicles and loans for other
consumer goods and personal expenses from a sample of commercial banks.
The FR 2835a collects information on interest rates, finance charges,
and loan balances for credit card accounts from a sample of commercial
banks. The data from these reports help the Board analyze current
household financial conditions and the implications of these conditions
for household spending and, as such, these data provide valuable input
to the monetary policymaking process. The data are also used to create
aggregate statistics on consumer loan terms that are published in the
some of the Federal Reserve's monthly statistical releases.
Frequency: Quarterly.
Respondents: The FR 2835 panel comprises a sample of commercial
banks. The FR 2835a panel comprises a sample of commercial banks with
$1 billion or more in credit card receivables and a representative
group of smaller issuers.
Total estimated number of respondents: 200.
Total estimated annual burden hours: 274.\1\
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\1\ More detailed information regarding this collection,
including more detailed burden estimates, can be found in the OMB
Supporting Statement posted at <a href="https://www.federalreserve.gov/apps/reportingforms/home/review">https://www.federalreserve.gov/apps/reportingforms/home/review</a>. On the page displayed at the link, you
can find the OMB Supporting Statement by referencing the collection
identifier, FR 2835 and FR 2835a.
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[[Page 23019]]
Current actions: On November 14, 2023, the Board published a notice
in the Federal Register (88 FR 78025) requesting public comment for 60
days on the extension, without revision, of the FR 2835 and FR 2835a.
The comment period for this notice expired on January 16, 2024. The
Board received one comment.
Detailed Discussion of Public Comments
The Board received one comment on the FR 2835 and FR 2835a from the
U.S. Department of Commerce Bureau of Economic Analysis (BEA). BEA was
in strong support of the continued collection of the FR 2835 and FR
2835a data. The Board will adopt the extension, without revision of the
FR 2835 and FR 2835a as originally proposed.
Board of Governors of the Federal Reserve System.
Ann Misback,
Secretary of the Board.
[FR Doc. 2024-07091 Filed 4-2-24; 8:45 am]
BILLING CODE 6210-01-P
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