Payment Systems Surveys

Forms and Documents

Document Name	Status
Form FR 3054d Currency Functionality and Perception Survey Form and Instruction	Modified
Form FR 3054c Currency Quality Survey Form and Instruction	Modified
Form FR 3054b Currency Quality Sampling Survey Form and Instruction	Modified
FR3054_20170530_omb.pdf Supporting Statement A	2017-05-30

IC Document Collections

IC ID	Document Title	Status
195991	Currency Functionality and Perception Survey Form and Instruction	Modified
195990	Currency Quality Survey Form and Instruction	Modified
195989	Currency Quality Sampling Survey Form and Instruction	Modified
195988	Ad Hoc Payments Systems Survey Other-Sample Survey Topics	Modified

ICR Details

OMB Control No: 7100-0332	ICR Reference No: 201705-7100-011
Status: Historical Active	Previous ICR Reference No: 201701-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR 3054
Title: Payment Systems 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: 05/31/2017
	Date Received in OIRA: 05/31/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2020	36 Months From Approved	05/31/2017
Responses	21,350	0	21,350
Time Burden (Hours)	19,150	0	19,150
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 3054a is an annual 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 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 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 Reserve Bank’s cash department. The FR 3054c is a semiannual 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 a survey used to assess the functionality of Federal Reserve notes in bank-note 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 Board may use the 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 Reserve Bank sorting algorithms are necessary to ensure that currency in circulation remains fit for commerce.

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Authorizing Statute(s): US Code: 12 USC 248(d) Name of Law: Federal Reserve 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:
	82 FR 10480	02/13/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 22332	05/15/2017
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Currency Functionality and Perception Survey	FR 3054d, FR 3054d	Currency Functionality and Perception Survey (General) ,   Currency Functionality and Perception Survey (Specialized)
Currency Quality Sampling Survey	FR 3054b	Currency Quality Sampling Survey
Currency Quality Survey	FR 3054c	Currency Quality Survey
Ad Hoc Payments Systems Survey

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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	21,350	21,350	0	0	0	0
Annual Time Burden (Hours)	19,150	19,150	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: $2,000,000

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: 05/31/2017

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