Survey of Terms of Lending

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form FR 2028A Survey of Terms of Business Lending	Form	Modified	Available
Form FR 2028S Prime Rate Supplement to Survey of Terms of Lending	Form	Modified	Available
Form FR 2028B Survey of Terms of Bank Lending to Farmers	Form	Modified	Available
FR2028A_FR2028B_FR2028S_20120618_omb.pdf	Supporting Statement A	Uploaded 2012-06-18	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36045	Survey of Terms of Business Lending	Form	Modified
185215	Prime Rate Supplement to Survey of Terms of Lending	Form	Modified
185214	Survey of Terms of Bank Lending to Farmers	Form	Modified

ICR Details

OMB Control No: 7100-0061	ICR Reference No: 201201-7100-006
Status: Historical Active	Previous ICR Reference No: 200806-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR 2028
Title: Survey of Terms of Lending
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: 06/19/2012
	Date Received in OIRA: 06/19/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	36 Months From Approved	06/30/2012
Responses	4,860	0	4,860
Time Burden (Hours)	7,358	0	6,840
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2028A collects information on commercial and industrial loans that domestic offices of U.S. insured commercial banks and U.S. branches and agencies of foreign banks make. The FR 2028B collects information on loans that U.S. insured commercial banks make to farmers. The FR 2028S collects the prime interest rate of the FR 2028A and FR 2028B respondents.

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Authorizing Statute(s): US Code: 12 USC 248(a)(2) Name of Law: Federal Reserve Act
   US Code: 5 USC 552(b)(4) Name of Law: Freedom of Information Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 63619	10/13/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 17477	03/26/2012
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
Survey of Terms of Bank Lending to Farmers	FR 2028B	Survey of Terms of Bank Lending to Farmers
Prime Rate Supplement to Survey of Terms of Lending	FR 2028S	Prime Rate Supplement to Survey of Terms of Lending
Survey of Terms of Business Lending	FR 2028A	Survey of Terms of Business Lending

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ICR Summary of Burden

table that charts list 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	4,860	4,860	0	0	0	0
Annual Time Burden (Hours)	7,358	6,840	0	518	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated average hours per response for the FR 2028A would increase 0.45 hours due to the proposed addition of three columns and would decrease 0.25 hours due to the proposal to increase the minimum loan size reported. Therefore, the estimated average hours per response for the FR 2028A would have a net increase 0.2 hours from 3.4 hours to 3.6 hours. The proposed annual burden would be 5,731, an increase of 318 hours. The estimated average hours per response for the FR 2028B would increase 0.2 hours from 1.2 hours to 1.4 hours due to the proposed addition of one column. The proposed annual burden would be 1,400, an increase of 200 hours.

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Annual Cost to Federal Government: $347,300

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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

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Common Form ICR:  No

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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: 06/19/2012

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