Ongoing Intermittent Survey of Households

Forms and Documents

Document Name	Status
FR3016_20171031_omb.pdf Supporting Statement A	2017-10-31

IC Document Collections

IC ID	Document Title	Status
36182	Ongoing Intermittent Survey of Households Other-Sample Surveys of Consumers November 2016	Modified
182906	DCCA (Non-SRC surveys) Other-DCC sample questions	Removed
182905	Other Divisions Other-RBOPS sample questions	Removed
182695	DCCA Other-DCCA sample questions	Removed

ICR Details

OMB Control No: 7100-0150	ICR Reference No: 201709-7100-001
Status: Historical Active	Previous ICR Reference No: 201408-7100-005
Agency/Subagency: FRS	Agency Tracking No: FR 3016
Title: Ongoing Intermittent Survey of Households
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: 10/31/2017
	Date Received in OIRA: 10/31/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2020	36 Months From Approved	10/31/2017
Responses	6,000	0	8,700
Time Burden (Hours)	158	0	633
Cost Burden (Dollars)	0	0	0

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Abstract: The Board uses this voluntary survey to obtain household-based information specifically tailored to the Board’s policy, regulatory, and operational responsibilities. The Board primarily uses the survey to study consumer financial decisions, attitudes, and payment behavior. Currently, the University of Michigan’s Survey Research Center (SRC) includes survey questions on behalf of the Board in an addendum to their regular monthly Survey of Consumer Attitudes and Expectations. The SRC conducts the survey by telephone with a sample of 500 households and asks questions of special interest to the Board.

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Authorizing Statute(s): US Code: 12 USC 225a Name of Law: Federal Reserve Act
   US Code: 12 USC 263 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 23249	05/22/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 39433	08/18/2017
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Ongoing Intermittent Survey of Households
DCCA (Non-SRC surveys)
Other Divisions
DCCA

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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	6,000	8,700	0	-2,700	0	0
Annual Time Burden (Hours)	158	633	0	-475	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The current annual respondent burden for the Board’s SRC and Non-SRC surveys is estimated to be 633 hours, and would decrease by 475 hours to 158 hours with the proposed revisions. The Board proposes to eliminate the Division of Consumer and Community Affairs (DCCA) and other divisions’ SRC surveys, as well as the non-SRC surveys in this information collection, as these surveys have not been conducted since 2010 and are not expected to be utilized in the next several years.

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Annual Cost to Federal Government: $93,798

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 10/31/2017

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