Consumer Financial Stability Surveys

Forms and Documents

Document Name	Status
FR3053_20120814_omb.docx Supporting Statement A	2012-08-14

IC Document Collections

IC ID	Document Title	Status
190054	Stakeholder studies (Stakeholder staff) Other-Sample survey topics	Unchanged
190053	Stakeholder studies (Stakeholder clientele) Other-Sample survey topics	Unchanged
190052	Financial institution study (Financial institution staff) Other-Sample survey topics	Unchanged
190050	Consumer studies (Qualitative studies) Other-Sample survey topics	Unchanged
190049	Consumer studies (Financial institution consumers) Other-Sample survey topics	Unchanged
190048	Consumer studies (Quantitative and general studies) Other-Sample survey topics	Unchanged

ICR Details

OMB Control No: 7100-0323	ICR Reference No: 201205-7100-014
Status: Historical Active	Previous ICR Reference No: 200907-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR 3053
Title: Consumer Financial Stability Surveys
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/14/2012
	Date Received in OIRA: 08/14/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2015	36 Months From Approved	09/30/2012
Responses	11,700	0	11,700
Time Burden (Hours)	6,550	0	6,550
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve uses this event-driven survey to obtain information specifically tailored to the Federal Reserve's supervisory, regulatory, operational, informational, and other responsibilities. The Federal Reserve conducts the FR 3053 up to 20 times per year, although the survey may not be conducted that frequently. The frequency and content of the questions depends on changing economic, regulatory, or legislative developments as well as changes in the financial services industry itself. Respondents comprise individuals, households, and financial and non-financial businesses.

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Authorizing Statute(s): US Code: 12 USC 2905 Name of Law: Community Reinvestment Act
   US Code: 12 USC 3806 Name of Law: Competitive Equality Banking Act
   US Code: 12 USC 4008 Name of Law: Expedited Funds Availability Act
   US Code: 15 USC 1604 Name of Law: Truth in Lending Act
   US Code: 15 USC 1681s(e) Name of Law: Fair Credit Reporting Act
   US Code: 15 USC 1691b(a) Name of Law: Equal Credit Opportunity Act
   US Code: 15 USC 1693b Name of Law: Electronic Funds Transfer Act
   US Code: 15 USC 6801(b) Name of Law: Gramm-Leach-Bliley Act
   US Code: 42 USC 4012a Name of Law: Flood Disaster Protections Act of 1973
   US Code: 12 USC 225a, 324, 263, 602, and 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 1817(a) Name of Law: Federal Deposit Insurance 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:
	77 FR 30532	05/23/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 47841	08/10/2012
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Consumer studies (Qualitative studies)
Consumer studies (Financial institution consumers)
Stakeholder studies (Stakeholder clientele)
Stakeholder studies (Stakeholder staff)
Financial institution study (Financial institution staff)
Consumer studies (Quantitative and general studies)

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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	11,700	11,700	0	0	0	0
Annual Time Burden (Hours)	6,550	6,550	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:

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Annual Cost to Federal Government: $1,120,000

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: 08/14/2012

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