The FR 3054a is an event-driven survey
used to obtain information specifically tailored to the Federal
Reserve's operational and fiscal agency responsibilities. The FR
3054a may be conducted independently by the Federal Reserve Board
or jointly with another government agency, a Federal Reserve Bank,
or a private firm. The FR 3054b is an annual survey used to assess
the quality of currency in circulation and may be conducted by the
Federal Reserve Board, jointly with the Federal Reserve Bank of San
Francisco's Cash Product Office (CPO), the Federal Reserve Bank of
Richmond's Currency Technology Office (CTO), and each Federal
Reserve Bank's cash department. The FR 3054c is a semi-annual
survey used to determine depository institutions' and Banknote
Equipment Manufacturers' (BEMs) opinions of currency quality and
may be conducted jointly with the CPO and CTO. The FR 3054d is an
annual survey used to assess the functionality of Federal Reserve
notes in banknote handling equipment. The data collected from the
FR 3054d are used as inputs for future designs of Federal Reserve
notes. The FR 3054d may be conducted jointly with the U.S.
Treasury's Bureau of Engraving and Printing (BEP) and the CTO. The
FR 3054a, FR 3054b, FR 3054c, and FR 3054d are sent to financial
and nonfinancial businesses. The Federal Reserve uses data
collected from these surveys to determine (1) demand for currency
and coin, (2) market preferences regarding currency quality, (3)
quality of currency in circulation, (4) features used by the public
and bank note authentication equipment to denominate and
authenticate bank notes, and (5) whether changes to Federal Reserve
Bank sorting algorithms are necessary to ensure that currency in
circulation remains fit for commerce.
The Federal Reserve proposes to
revise the FR 3054a by (1) adding individuals and law enforcement
agencies to its respondent panel, (2) reducing the annual frequency
from 10 times to 1 time per year, (3) reducing the estimated time
to complete a survey from 15 hours to 0.75 hours, and (4)
increasing the number of respondents from 100 to 12,000. The
Federal Reserve proposes to revise the FR 3054d by (1) renaming the
survey as Currency Functionality and Perception Survey, (2) adding
individuals to its respondent panel, (3) increasing the frequency
of the survey from one time per year to four times per year, (4)
reducing the estimated time to complete the survey from 48 hours to
2.5 hours, and (5) increasing the number of respondents from 20 to
250.
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:
(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;
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.