Domestic Finance Company Report of Consolidated Assets and Liabilities

Forms and Documents

Document Name	Status
Form FR 2248 FR 2248 monthly Form	Modified
Form FR 2248 FR 2248 addendum Form	New
FR2248_20080918_omb.doc Supporting Statement A	2008-09-18

IC Document Collections

IC ID	Document Title	Status
35980	FR 2248 monthly Form	Modified
185888	FR 2248 addendum Form	New
185887	FR 2248 quarterly Instruction	New

ICR Details

OMB Control No: 7100-0005	ICR Reference No: 200807-7100-005
Status: Historical Active	Previous ICR Reference No: 200510-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR 2248
Title: Domestic Finance Company Report of Consolidated Assets and Liabilities
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: 10/08/2008
	Date Received in OIRA: 10/08/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2011	36 Months From Approved	10/31/2008
Responses	980	0	1,120
Time Burden (Hours)	317	0	352
Cost Burden (Dollars)	0	0	0

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Abstract: This report collects balance sheet data on major categories of consumer and business credit receivables and short-term liabilities. The Federal Reserve uses this information to construct universe estimates of finance company holdings in order to help assess aggregate credit market conditions.

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Authorizing Statute(s): US Code: 12 USC 225(a) 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:
	73 FR 37455	07/01/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 53872	09/17/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
FR 2248 quarterly	FR 2248	Domestic FInance Company Report of Consolidated Assets and Liabilites
FR 2248 monthly	FR 2248	Domestic Finance Company Report of Consolidated Assets and Liabilities
FR 2248 addendum	FR 2248	Domestic Finance Company Report of Consolidated Assets and Liabilities

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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	980	1,120	0	-140	0	0
Annual Time Burden (Hours)	317	352	0	-35	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 change in burden hours reflects a proposed decrease in the authorized panel size and an increase in the average response time for FR 2248 quarterly respondents (related to the proposed revisions to the reporting form), for a net decrease of 35 hours.

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Annual Cost to Federal Government: $43,900

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

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: 10/08/2008

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