Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
| Published date | 19 July 2019 |
| Citation | 84 FR 34890 |
| Record Number | 2019-15366 |
| Section | Notices |
| Court | Federal Reserve System |
Federal Register, Volume 84 Issue 139 (Friday, July 19, 2019)
[Federal Register Volume 84, Number 139 (Friday, July 19, 2019)]
[Notices]
[Page 34890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15366]
=======================================================================
-----------------------------------------------------------------------
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--Shagufta
Ahmed--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.
A copy of the Paperwork Reduction Act (PRA) OMB submission,
including the reporting form and instructions, supporting statement,
and other documentation will be placed into OMB's public docket files.
These documents also are available on the Board's public website at
https://www.federalreserve.gov/apps/reportforms/review.aspx or may be
requested from the agency clearance officer, whose name appears above.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the PRA to approve and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the PRA submission, supporting
statements and approved collection of information instrument(s) are
placed into OMB's public docket files.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of 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: U.S. financial institutions and U.S. branches and
agencies of foreign banks.
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. Given the Board's interest in financial stability, the
information this survey collects is critical to the monitoring of
credit markets and capital market activity. Information from the survey
is also considered by the Federal Open Market Committee (FOMC) as it
sets monetary policy. Aggregate survey results are made available to
the public on the Board's website.\1\ In addition, selected aggregate
survey results may be discussed in Governors' speeches and may be
published in Federal Reserve Bulletin articles and in the semi-annual
Monetary Policy Report to the Congress.
---------------------------------------------------------------------------
\1\ See www.federalreserve.gov/econresdata/releases/scoos.htm.
---------------------------------------------------------------------------
Legal authorization and confidentiality: The FR 2034 is authorized
pursuant to sections 2A and 12A of the Federal Reserve Act (``FRA'').
Section 2A of the FRA requires that the Board and the 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 (12 U.S.C. 225a). Under section 12A
of the FRA, the FOMC is required to implement regulations relating to
the open market operations conducted by Federal Reserve Banks. Those
transactions must be governed with a view to accommodating commerce and
business and with regard to their bearing upon the general credit
situation of the country (12 U.S.C. 263). The Board and the FOMC use
the information obtained from the FR 2034 to help fulfill these
obligations. The FR 2034 is voluntary. Information collected on the FR
2034 may be granted confidential treatment under exemption (b)(4) of
the Freedom of Information Act, 5 U.S.C. 552(b)(4), which protects from
disclosure ``trade secrets and commercial or financial information
obtained from a person and privileged or confidential.''
Current actions: On April 17, 2019, the Board published an initial
notice in the Federal Register (84 FR 16015) requesting public comment
for 60 days on the extension, without revision, of the FR 2034. The
comment period for this notice expired on June 17, 2019. The Board did
not receive any comments.
Board of Governors of the Federal Reserve System, July 15, 2019.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2019-15366 Filed 7-18-19; 8:45 am]
BILLING CODE 6210-01-P
