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:
7100-0351
ICR Reference No:
202207-7100-009
Status:
Historical Active
Previous ICR Reference No:
202110-7100-001
Agency/Subagency:
FRS
Agency Tracking No:
FR 3066
Title:
Federal Reserve Payments Study
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:
07/29/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/29/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2025
36 Months From Approved
07/31/2022
Responses
646
0
646
Time Burden (Hours)
12,350
0
12,350
Cost Burden (Dollars)
0
0
0
Abstract:
The Federal Reserve Payments Study (FRPS) is supported by the following surveys: • Depository and Financial Institutions Payments Survey (FR 3066a), and • Networks, Processors, and Issuers Payments Surveys (FR 3066b). The FRPS collects information from organizations with a significant role in processing payments, including depository and financial institutions, general-purpose payment networks, third-party payment processors, issuers of private-label payment instruments, and providers of various alternative payment methods and systems and help to support the Federal Reserve System’s (Federal Reserve’s) role in the payments system. The FR 3066a and FR 3066b consist of a full set of surveys every three years and smaller versions of the surveys (fewer surveys, questions, or respondents) in each year between. The FRPS publishes aggregate estimates of noncash payment volumes, cash deposits and withdrawals, and related information derived from the surveys.
Authorizing Statute(s):
US Code:
12 USC 360
Name of Law: Federal Reserve Act
US Code:
12 USC 248-1
Name of Law: Federal Reserve Act
US Code:
12 USC 4008(c)
Name of Law: Expedited Funds Availability Act
US Code:
15 USC 1693b
Name of Law: Electronic Fund Transfer Act
US Code:
15 USC 1693o-2
Name of Law: Electronic Fund Transfer Act
US Code:
12 USC 5014
Name of Law: Check Clearing for the 21st Century Act
US Code:
12 USC 225a
Name of Law: Federal Reserve Act
US Code:
12 USC 248
Name of Law: Federal Reserve Act
US Code:
12 USC 248a
Name of Law: Federal Reserve Act
US Code:
12 USC 342
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:
87 FR 19924
04/06/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 44119
07/25/2022
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
FR 3066a
FR 3066a
Depository and Financial Institutions Payments Survey
FR 3066b
FR 3066b
Networks, Processors, and Issuers Payments Surveys
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
646
646
0
0
0
0
Annual Time Burden (Hours)
12,350
12,350
0
0
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:
No
Burden Reduction Due to:
Short Statement:
Annual Cost to Federal Government:
$1,700,000
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.
No
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?
No
Agency Contact:
Richard Palmer 202 502-8438 Richard.Palmer@ferc.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:
07/29/2022
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