FR3052_20220224_omb

Supporting Statement for the
Supervisory and Regulatory Survey
(FR 3052; OMB No. 7100-0322)
Summary
The Board of Governors of the Federal Reserve System (Board), under authority
delegated by the Office of Management and Budget (OMB), has extended for three years,
without revision, the Supervisory and Regulatory Survey (FR 3052; OMB No. 7100-0322). The
FR 3052 collects information from financial institutions specifically tailored to the Federal
Reserve’s supervisory, regulatory, and operational responsibilities. The frequency and content of
the questions may depend on economic, regulatory, supervisory, and legislative developments.
Respondents may include bank holding companies (BHCs), state member banks (SMBs),
savings and loan holding companies (SLHCs), intermediate holding companies (IHCs), U.S.
branches and agencies of foreign banking organizations (FBOs), Edge Act and agreement
corporations, non-bank financial companies that the Financial Stability Oversight Council
(FSOC) has determined should be supervised by the Board, or the combined domestic operations
of FBOs.
The surveys are conducted on a voluntary basis. The number of respondents per survey
and the number of surveys conducted per year may fluctuate. Based on past use of the FR 3052,
the Board estimates that surveys could be conducted up to 24 times per year, with an average of
5,000 respondents per survey. The total annual burden for the FR 3052 remains capped at 60,000
hours.
Background and Justification
The Board has long conducted surveys to help fulfill its statutory responsibilities of
supervising and regulating financial institutions. In some cases, surveys have provided the only
available source of information with regard to certain financial conditions and business activities.
Surveys are driven by the specific needs of the Board, but aggregated findings have also been
used extensively by researchers outside the Federal Reserve System and other financial industry
regulators.
The Board occasionally needs to gather time-sensitive data from the banking and
financial industries on financial conditions or particular business activities outside of the
standard regulatory reporting process. The data may be particularly needed in times of critical
economic or regulatory changes or when issues of immediate concern arise from supervisory
initiatives, requests from the Board of Governors, or other matters of significant public interest.
The Board implemented the FR 3052 in 2009 to facilitate certain supervisory and regulatory
surveys in such circumstances. Past surveys have collected information related to energy lending
exposure, cloud-based data exchange services, regulatory capital, the Comprehensive Capital
Analysis and Review, operational risk loss event history, transactions by government securities
dealers, and small debit card issuers.

The Board will not use the FR 3052 to collect information that is available from other
sources. When conducting surveys using the FR 3052, the Board makes a determination that the
frequency and format are reasonable and that there are not less burdensome means available for
obtaining the information.
Description of Information Collection
The Board utilizes the FR 3052 survey process, as needed, to collect information on
specific issues that affect its statutory responsibilities. A principal value of the FR 3052 is the
flexibility it provides the Federal Reserve to respond quickly to the need for data due to
unanticipated economic, financial, supervisory, or regulatory developments. The Board cannot
predict what specific information will be needed, but such needs are generally very time
sensitive. Because the relevant questions may change with each survey, there is no fixed
reporting form.
Written qualitative questions or questionnaires may include categorical questions, yes-no
questions, ordinal questions, and open-ended questions. Written quantitative surveys may request
dollar amounts, percentages, numbers of items, interest rates, and other similar information.
Institutions may also be asked to provide copies of existing documents (for example, pertaining
to practices and performances for a particular business activity). Before conducting a survey, the
Board reviews any information to be collected to determine if the information is available by
other means. In soliciting participation for a survey, the Board would explain to respondents the
purpose of the survey and how the data would be used.
The Board welcomes feedback from firms on surveys conducted under the FR 3052, both
formally, through frequently asked questions, and informally via outreach sessions, ad -hoc
discussions, and e-mails. When a survey template is available in advance of the planned
distribution date, the Board works to distribute the template to respondents early for information
purposes, and when time allows, to incorporate any feedback. Following a survey, the Board will
make the survey instrument publicly available on the Board’s OMB Public Docket.
Respondent Panel
The FR 3052 respondent panel may include BHCs, SMBs, SLHCs, IHCs, U.S. branches
and agencies of FBOs, Edge Act and agreement corporations, nonbank financial companies that
the FSOC has determined should be supervised by the Board, and the combined domestic
operations of FBOs.
Time Schedule for Information Collection
The data submission timeline for each survey varies and would be determined before
distribution of the survey materials to respondents.

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Public Availability of Data
The Board will choose whether to publish survey data that it obtains from respondents
and will inform the respondents beforehand if the data are to be published on an individualinstitution basis. Depending upon the nature of the data collection, the survey data may be
confidential. Aggregate survey information may be cited in published material such as Board
studies or working papers, professional journals, the Federal Reserve Bulletin, testimony and
reports to the Congress, or other vehicles.
Legal Status
The FR 3052 is authorized by a number of statutes authorizing the Board to require
reports of condition from institutions subject to its supervision. These include section 9 of the
Federal Reserve Act (FRA) (12 U.S.C. § 324),1 section 5 of the Bank Holding Company Act of
1956 (12 U.S.C. § 1844(c)(1)(A)),2 section 10 of the Home Owners’ Loan Act (12 U.S.C. §
1467a(b)(2)),3 section 7 of the International Banking Act of 1978 (IBA) (12 U.S.C. §
3105(c)(2)),4 section 8 of the IBA (12 U.S.C. § 3106(a)),5 sections 25 and 25A of the FRA
(12 U.S.C. §§ 602 and 625),6 and section 161 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C. § 5361).7 Survey submissions under the FR 3052 are
voluntary.
The questions asked on each survey will vary. The Board’s ability to keep confidential
responses to the FR 3052 must therefore be determined on a case-by-case basis. Much of the
information collected is likely to constitute nonpublic commercial or financial information,
which is both customarily and actually treated as private by the respondent, and may be kept
confidential by the Board pursuant to exemption 4 of the Freedom of Information Act (FOIA)
(5 U.S.C. § 552(b)(4)). Some survey responses may also contain information contained in or
related to an examination of a financial institution, which may be kept confidential under
exemption 8 of FOIA (5 U.S.C. § 552(b)(8)).
Responses to the FR 3052 are tabulated and summarized at the Board. This aggregate
information is not considered confidential, and aggregate survey information may be cited in
published material such as Board studies or working papers, professional journals, the Federal
Reserve Bulletin, testimony and reports to the Congress, or other vehicles.
Requiring state member banks to make reports of condition “in such form and [containing] such information as the
Board of Governors of the Federal Reserve System may require”.
2
Authorizing the Board to require a bank holding company and any subsidiary thereof to submit reports regarding
financial condition and compliance.
3
Authorizing the Board to require a savings and loan holding company and any subsidiary thereof to submit reports
containing such information concerning the operation of the company or its subsidiaries as the Board may require.
4
Subjecting each branch or agency of a foreign bank to the provisions of 12 U.S.C. § 324 requiring reports of
financial condition as if it were a state member bank.
5
Generally subjecting foreign banking organizations to the Bank Holding Company Act.
6
Requiring Edge and agreement corporations to “make reports to the Board of Governors of the Federal Reserve
System at such times and in such form as it may require”.
7
Authorizing the Board to require reports of financial condition and compliance from nonbank financial companies
subject to the Board’s supervision.
1

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Consultation Outside the Agency
At this time, there has been no consultation outside the Federal Reserve System;
however, surveys may be conducted jointly with other agencies. If this were to occur, the Federal
Reserve would consult with other agencies, to the extent practicable, to create a consistent set of
questions or a substantively similar information collection.
Public Comments
On May 26, 2021, the Board published an initial notice in the Federal Register (86 FR
28344) requesting public comment for 60 days on the extension, without revision, of the
FR 3052. The comment period for this notice expired on July 26, 2021. The Board did not
receive any comments. The Board adopted the extension, without revision, of the FR 3052 as
originally proposed. On October 5, 2021, the Board published a final notice in the Federal
Register (86 FR 54974).
Estimate of Respondent Burden
As shown in the table below, the total annual burden for the FR 3052 is capped at 60,000
hours. Because the number of surveys and respondents will fluctuate depending on the number
and types of topics being considered, it is not possible to predict exactly how many will be
conducted in a given year. In 2019 and 2020, the FR 3052 was only used 1-2 times per year. For
the purpose of the burden estimate, it is assumed that the survey will be conducted up to 24 times
per year and average 5,000 respondents per survey. Based on previous data collections, the
Board estimates that the average time per response will be approximately 30 minutes. The se
reporting requirements represent less than 1 percent of the Board’s total paperwork burden.

FR 3052
Current

Estimated
Estimated
Estimated
Annual
number of
average hours annual burden
frequency
respondents8
per response
hours
5,000

24

0.5

60,000

The estimated total annual cost to the public for the FR 3052 is $3,549,000.9

8

Of these respondents, 4,500 are considered small entities as defined by the Small Business Administration (i.e.,
entities with less than $600 million in total assets), https://www.sba.gov/document/support--table-size-standards.
There are no special accommodations given to mitigate the burden on small institutions.
9
Total cost to the public was estimated using the following formula: percent of staff time, multiplied by annual
burden hours, multiplied by hourly rates (30% Office & Administrative Support at $20, 45% Financial Managers at
$73, 15% Lawyers at $72, and 10% Chief Executives at $95). Hourly rates for each occupational group are the
(rounded) mean hourly wages from the Bureau of Labor and Statistics (BLS), Occupational Employment and Wages
May 2020, published March 31, 2021, https://www.bls.gov/news.release/ocwage.t01.htm. Occupations are defined
using the BLS Standard Occupational Classification System, https://www.bls.gov/soc/.

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Sensitive Questions
This collection of information would contain no questions of a sensitive nature, as
defined by OMB guidelines.
Estimate of Cost to the Federal Reserve System
The cost of the surveys depends on the size of the sample, the number of questions asked,
the type and complexity of the questions asked, and the frequency of the surveys. The estimated
cost to the Federal Reserve System for the FR 3052 is $201,500.

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