Interchange Transaction Fees Survey

ICR 201611-7100-004

OMB: 7100-0344

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Form and Instruction
Modified
Supporting Statement A
2017-01-18
IC Document Collections
ICR Details
7100-0344 201611-7100-004
Historical Active 201609-7100-007
FRS FR 3064
Interchange Transaction Fees Survey
Revision of a currently approved collection   No
Delegated
Approved without change 01/18/2017
Retrieve Notice of Action (NOA) 01/18/2017
  Inventory as of this Action Requested Previously Approved
01/31/2020 36 Months From Approved 01/31/2017
575 0 575
90,555 0 112,875
0 0 0

The mandatory Interchange Transaction Fees Survey which is composed of the following reports (1) the Debit Card Issuer Survey (FR 3064a) collects data from issuers of debit cards (including general-use prepaid cards) that, together with affiliates, have assets of $10 billion or more, including information regarding the volume and value of debit card (including general-use prepaid card) transactions; costs of authorization, clearance, and settlement of debit card transactions; associated interchange fees; payments; and incentives paid by networks to issuers, and the incidence of and losses due to debit card fraud and (2) the Payment Card Network Survey (FR 3064b) collects data from payment card networks including the volume and value of debit card (including general-use prepaid card) transactions; associated interchange fees; network fees; and payments and incentives paid by networks to acquirers, merchants, and issuers.

US Code: 15 USC 1693o-2(a)(3)(B) Name of Law: Electronic Fund Transfer Act
  
None

Not associated with rulemaking

  81 FR 52689 08/09/2016
81 FR 79484 11/14/2016
Yes

2
IC Title Form No. Form Name
Debit Card Issuer Survey FR 3064a Debit Card Issuer Survey
Payment Card Network Survey FR 3064b Payment Card Network Survey

  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 575 575 0 0 0 0
Annual Time Burden (Hours) 90,555 112,875 0 -22,320 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
The current annual reporting burden for the surveys is estimated to be 112,875 hours and would decrease to 90,555 hours. The proposed revisions to the FR 3064a would result in a decrease of 8 data items (associated with the deletion of 2 break outs of data items in each of the 4 sections). Therefore, the Federal Reserve estimates the average hours per response for the 558 issuers would decrease from 200 hours to 160 hours. The estimated burden, however, would likely be lower for the FR 3064a if holding companies consolidate the responses of their individual issuer subsidiaries. The FR 3064b estimated burden is unchanged.

$172,500
No
No
No
Yes
No
Uncollected
Jennifer Williams 202 452-2446 [email protected]

  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:
 
 
 
 
 
 
 
    (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.
01/18/2017


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