Reporting Requirements Associated with Emergency Lending Under Section 13(3)

Forms and Documents

Document	Type	Status	Availability
FRA_20240726_omb.pdf	Supporting Statement A	Uploaded 2024-07-26	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
245373	Disclosure FR A-4		Removed
244338	Reporting FR A-3 Borrower certifications Nonprofit organizations		Removed
241771	Reporting FR A-3 Borrower certifications For-profit businesses		Removed
241770	Reporting FR A-3 Lender certifications		Removed
241769	Reporting FR A-2		Removed
225771	Reporting FR A-1		Modified

ICR Details

OMB Control No: 7100-0373	ICR Reference No: 202407-7100-005
Status: Active	Previous ICR Reference No: 202107-7100-006
Agency/Subagency: FRS	Agency Tracking No: FR A
Title: Reporting Requirements Associated with Emergency Lending Under Section 13(3)
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: 07/26/2024
	Date Received in OIRA: 07/26/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2027	36 Months From Approved	07/31/2024
Responses	10	0	21,026
Time Burden (Hours)	55	0	257,305
Cost Burden (Dollars)	0	0	0

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Abstract: Section 13(3) of the Federal Reserve Act provides that the Board may authorize any Federal Reserve Bank to extend credit to an individual, partnership, or corporation, subject to conditions. This information collection contains reporting requirements for entities’ compliance with the terms and conditions of the emergency lending facilities.

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Authorizing Statute(s): US Code: 12 USC 343(3) Name of Law: Federal Reserve Act
   US Code: 12 USC 343(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 343(3) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection 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:
	89 FR 16570	03/07/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 54461	07/01/2024
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
Disclosure FR A-4
Reporting FR A-1
Reporting FR A-2
Reporting FR A-3 Borrower certifications For-profit businesses
Reporting FR A-3 Borrower certifications Nonprofit organizations
Reporting FR A-3 Lender certifications

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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	10	21,026	0	-21,016	0	0
Annual Time Burden (Hours)	55	257,305	0	-257,250	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 estimated total annual burden for the FR A is 257,305 hours, and would decrease to 55 hours with the revisions. The Board removed the reporting and disclosure requirements in FR A-2, FR A-3, and FR A-4. These requirements were specific to the lending facilities for which authorizations have ceased.

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Annual Cost to Federal Government: $0

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? No

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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: 07/26/2024

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