View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
7100-0277
ICR Reference No:
202004-7100-007
Status:
Historical Active
Previous ICR Reference No:
201606-7100-003
Agency/Subagency:
FRS
Agency Tracking No:
FR 3033p; FR 3033s
Title:
Census of Finance Companies; Survey of Finance Companies
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Delegated
OIRA Conclusion Action:
Approved without change
Conclusion Date:
04/16/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/16/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2023
36 Months From Approved
04/30/2020
Responses
14,000
0
17,200
Time Burden (Hours)
6,024
0
9,800
Cost Burden (Dollars)
0
0
0
Abstract:
The Census of Finance Companies (FR 3033p) is the first part of a two-stage survey series, which has been conducted at a regular five-year interval since 1955. The FR 3033p is a census survey designed to identify the universe of finance companies eligible for potential inclusion in the FR 3033s and to enable the stratification of the sample for a more statistically efficient estimation. The FR 3033p gathers limited information including total assets, areas of specialization, and information on the corporate structure of the companies. The second part of this information collection, the Survey of Finance Companies (FR 3033s), collects balance sheet data on major categories of consumer and business credit receivables and major liabilities and is used to gather information on the geographic scope of the company’s operations and loan and lease servicing activities.
Authorizing Statute(s):
US Code:
12 USC 225a
Name of Law: Federal Reserve Act
US Code:
12 USC 263
Name of Law: Federal Reserve Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
85 FR 2740
01/16/2020
30-day Notice:
Federal Register Citation:
Citation Date:
85 FR 20496
04/13/2020
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Census of Finance Companies
FR 3033p
Census of Finance Companies
Survey of Finance Companies
FR 3033s
Survey of Finance Companies
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
14,000
17,200
0
-3,200
0
0
Annual Time Burden (Hours)
6,024
9,800
0
-3,776
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The estimated total annual burden for the FR 3033 is 9,800 hours, and would decrease to 6,024 hours with the adopted revisions. The total number of respondents including those that will respond to the nonresponse follow-up for the FR 3033p is based on an estimated response rate of 30 percent of 40,000 potential respondents and a lower response rate of 20 percent of 4,000 nonrespondents selected for follow-up, which equals 12,800 respondents. The response rate of 30 percent was based on the 2015 FR 3033p actual response rate of 32 percent. As there are no changes being proposed for the FR 3033s at this time, the burden will stay the same.
Annual Cost to Federal Government:
$536,300
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
Yes
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Kaitlin Merritt 202 452-3752 kaitlin.m.merritt@frb.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/16/2020
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