Consolidated Report of Condition and Income for Edge and Agreement Corporations

Forms and Documents

Document Name	Status
Form FR 2886b Investment Edge and agreement corporations (annual) Form	Modified
Form FR 2886b Investment Edge and agreement corporations (quarterly) Form	Modified
Form FR 2886b Banking Edge and agreement corporations (annual) Form	Modified
FR2886b_20200728_omb_emergency.pdf Supporting Statement A	2020-07-28

IC Document Collections

IC ID	Document Title	Status
36084	Banking Edge and agreement corporations (quarterly) Other-Draft Instruction	Modified
187282	Investment Edge and agreement corporations (annual) Form	Modified
187280	Investment Edge and agreement corporations (quarterly) Form	Modified
181981	Banking Edge and agreement corporations (annual) Form	Modified

ICR Details

OMB Control No: 7100-0086	ICR Reference No: 202007-7100-010
Status: Active	Previous ICR Reference No: 201903-7100-016
Agency/Subagency: FRS	Agency Tracking No: FR 2886b
Title: Consolidated Report of Condition and Income for Edge and Agreement Corporations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 07/28/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/29/2020
	Date Received in OIRA: 07/28/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2021	6 Months From Approved	03/31/2022
Responses	128	0	128
Time Burden (Hours)	1,652	0	1,652
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2886b reporting form is filed quarterly or annually by Edge and agreement corporations (collectively, Edges or Edge corporations). The Federal Reserve is solely responsible for authorizing, supervising, and assigning ratings to Edges. The Federal Reserve uses the data collected on the FR 2886b to supervise Edge corporations and to monitor and develop a better understanding of Edge activities.

Emergency Justfication: The delegation of authority to the Board from OMB that permits the Board to approve collections of information under the Paperwork Reduction Act includes the authority to temporarily approve a collection of information without seeking public comment. To exercise this authority, the Board must determine that a new collection of information or a change to an existing collection must be instituted quickly and that public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligation. Following the temporary approval of an information collection, the Board must conduct a normal delegated review of the collection within six months, including publishing in the Federal Register a notice seeking public comment. In response to recent economic disruptions and volatility in U.S. financial markets caused by the spread of Coronavirus Disease 2019 (COVID-19), the Board temporarily revised the FR 2886b effective beginning with the June 30, 2020, as-of date.

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Authorizing Statute(s): US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 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

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
Investment Edge and agreement corporations (quarterly)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Banking Edge and agreement corporations (quarterly)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Banking Edge and agreement corporations (annual)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations
Investment Edge and agreement corporations (annual)	FR 2886b	Consolidated Report of Condition and Income for Edge and Agreement Corporations

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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	128	128	0	0	0	0
Annual Time Burden (Hours)	1,652	1,652	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: $204,300

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.     Yes

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? Yes

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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: 07/28/2020

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