Policy Impact Survey

Policy Impact Survey
Sample survey categories
(FR 3075; OMB No. 7100-0362)
Summary
The Board of Governors of the Federal Reserve System (Board), under delegated
authority from the Office of Management and Budget (OMB), proposes to implement the Policy
Impact Survey (FR 3075; OMB No. 7100-to be assigned). This survey would collect information
from select institutions regulated by the Board in order to assess the effects of proposed,
pending, or recently-adopted policy changes at the domestic and international levels.1 For
example, the survey would collect information used for certain quantitative impact studies
(QISs) sponsored by bodies such as the Basel Committee on Banking Supervision (BCBS) and
the Financial Stability Board (FSB). Recent QISs have included the Basel III monitoring
exercise, which monitors the global impact of the Basel III framework,2 and the global
systemically important bank (G-SIB) exercise, which assesses a firm’s systemic risk profile.3
Since the collected data may change from survey to survey, there would be no fixed reporting
form.
The Board expects the majority of surveys to be conducted on a voluntary basis;
however, the Board is authorized to make surveys mandatory under certain statutes and
regulations.4 While the number of respondents may fluctuate between surveys, the survey would
be conducted up to 15 times per year. The annual reporting burden for the FR 3075 is estimated
to be 58,500 hours.
Sample survey categories
The survey would allow regulators to estimate the effects of potential changes to
regulatory policy and monitor the impact of decisions already taken. Since the survey would
reflect the most current policy variants being considered, the number, type, and definition of
specific data items cannot be predicted well in advance. Qualitative data collected might include
questions that are categorical, yes-no, ordinal, and open-ended. Quantitative data collected might
include dollar amounts, percentages, numbers of items, interest rates, and other such information
pertaining to the activities of a financial institution. The Board anticipates conducting up to 15
surveys per year, from as many as 65 respondents per survey.

1

Respondents may include bank holding companies (BHCs), savings and loan holding companies (SLHCs), nonBHC/SLHC systemically important financial institutions as designated by the Financial Stability Oversight Council,
and the combined domestic operations of certain foreign banking organizations.
2
For more information on the Basel III monitoring exercise, see www.bis.org/bcbs/qis/.
3
For more information on the G-SIB exercise, see www.bis.org/bcbs/gsib/.
4
The Board may require information submissions under section 9 of the Federal Reserve Act (12 U.S.C. § 324);
section 5(c) of the Bank Holding Company Act (12 U.S.C. § 1844(c)); from Edge and agreement corporations under
sections 25 and 25A of the Federal Reserve Act (12 U.S.C. §§ 602 and 625); and from U.S. branches and agencies
of foreign banks under section 7(c)(2) of the International Banking Act of 1978 (12 U.S.C. § 3105(c)(2)) and under
section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. § 1817(a)).