Microeconomic Survey

Forms and Documents

Document Name	Status
Form FR 3051 Annual Microeconomic Survey Form and Instruction	Unchanged
FR3051_201201_omb.docx Supporting Statement A	2012-06-19
FR3051_200904_ombssB.doc Supporting Statement B	2012-04-10

IC Document Collections

IC ID	Document Title	Status
188571	Monthly Microeconomic Survey Other-Sample	Modified
188570	Annual Microeconomic Survey Form and Instruction	Unchanged

ICR Details

OMB Control No: 7100-0321	ICR Reference No: 201202-7100-005
Status: Historical Active	Previous ICR Reference No: 200903-7100-014
Agency/Subagency: FRS	Agency Tracking No: FR 3051
Title: Microeconomic Survey
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/19/2012
	Date Received in OIRA: 06/19/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	36 Months From Approved	06/30/2012
Responses	42,000	0	42,000
Time Burden (Hours)	24,000	0	24,000
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Reserve uses this event-driven survey to obtain information specifically tailored to the Federal Reserve's supervisory, regulatory, operational, and other responsibilities. The Federal Reserve conducts the FR 3051 up to 13 times per year (including one survey on an annual basis and another on a monthly basis). The frequency and content of the questions depend on changing economic, regulatory, or legislative developments. Respondents comprise individuals, households, and financial and non-financial businesses.

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Authorizing Statute(s): US Code: 12 USC 225a and 263 Name of Law: Federal Reserve Act
   US Code: 12 USC 324 Name of Law: Federal Reserve Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 602 & 625 Name of Law: Federal Reserve Act
   US Code: 12 USC 3105(c)(2)) Name of Law: International Banking 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:
	77 FR 5015	02/01/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 21560	04/10/2012
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Monthly Microeconomic Survey
Annual Microeconomic Survey	FR 3051	Annual Microeconomic Survey

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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	42,000	42,000	0	0	0	0
Annual Time Burden (Hours)	24,000	24,000	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: $5,250,000

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

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]? 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? 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: 06/19/2012

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