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 quarterly Form	Modified
FR2248_2014117_OMBSS_FINAL.docx Supporting Statement A	2014-01-17

IC Document Collections

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

ICR Details

OMB Control No: 7100-0005	ICR Reference No: 201401-7100-005
Status: Historical Active	Previous ICR Reference No: 201009-7100-006
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: 01/24/2014
	Date Received in OIRA: 01/24/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2017	36 Months From Approved	05/31/2014
Responses	2,100	0	980
Time Burden (Hours)	750	0	350
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 2248 is a voluntary report, collected monthly as of the last calendar day of the month from a stratified sample of finance companies . Each monthly report collects balance sheet data on major categories of consumer and business credit receivables and on major short-term liabilities. For quarter-end months (March, June, September, and December) additional asset and liability items are collected to provide a full balance sheet. A supplemental section collects data on securitized assets. The Federal Reserve may ask either quantitative or qualitative questions through the use of a special addendum section no more than twice per year. The data are used to construct universe estimates of finance company holdings, which are published in the monthly statistical releases Finance Companies (G.20) and Consumer Credit (G.19), in the quarterly statistical release Flow of Funds Accounts of the United States (Z.1), and in the Federal Reserve Bulletin (Tables 1.51, 1.52, and 1.55).

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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:
	78 FR 66714	11/06/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 2658	01/15/2014
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 Liabilities
FR 2248 monthly	FR 2248	Domestic Finance Company Report of Consolidated Assets and Liabilities
FR 2248 addendum

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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	2,100	980	0	1,120	0	0
Annual Time Burden (Hours)	750	350	0	400	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: It is estimated that the proposed revisions to the FR 2248 would increase the reporting burden from 350 hours to 750, an increase of 400 hours. The burden increase is attributed to the increase in the panel size from 70 respondents to 150 respondents.

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Annual Cost to Federal Government: $74,310

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]? 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: 01/24/2014

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