Census of Finance Companies; Survey of Finance Companies

Forms and Documents

Document Name	Status
Form FR 3033p Census of Finance Companies Form and Instruction	Modified
Form FR 3033s Survey of Finance Companies Form and Instruction	New
FR3033s_20170427_omb_B.pdf Supporting Statement B	2017-04-27
FR3033p_FR3033s_20170427_omb.pdf Supporting Statement A	2017-04-27

IC Document Collections

IC ID	Document Title	Status
36307	Census of Finance Companies Form and Instruction	Modified
226578	Survey of Finance Companies Form and Instruction	New

ICR Details

OMB Control No: 7100-0277	ICR Reference No: 201606-7100-003
Status: Historical Active	Previous ICR Reference No: 201506-7100-008
Agency/Subagency: FRS	Agency Tracking No: FR 3033p; FR 3033s
Title: Census of Finance Companies; Survey of Finance Companies
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: 04/27/2017
	Date Received in OIRA: 04/27/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2020	36 Months From Approved	04/30/2018
Responses	17,200	0	16,000
Time Burden (Hours)	9,800	0	8,000
Cost Burden (Dollars)	0	0	0

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Abstract: This information collection includes both the Census of Finance Companies (FR 3033p) and the Survey of Finance Companies (FR 3033s). The data collected from this survey would be used to benchmark the consumer and business finance series collected on the monthly Domestic Finance Company Report of Consolidated Assets and Liabilities (FR 2248; OMB No. 7100-0005) and to increase the Board’s understanding of an important part of the financial system. The first stage of the quinquennial, the FR 3033p was implemented in June 2015 and was sent to all companies that met the criteria developed to identify the potential universe of domestic finance companies. An accurate census was required to form a representative sample of finance companies, to which a more detailed survey would be sent. The census gathered limited information including total assets, areas of specialization, and information on the corporate structure of the companies. The Board identified approximately 40,000 firms to which the census was sent. From the universe of finance companies determined by the FR 3033p, a stratified random sample of 3,000 finance companies was drawn for the FR 3033s. The survey would be sent in March 2016 and collect detailed information, as of December 31, 2015, from both assets and liability sides of the respondents’ balance sheets, along with income and expenses, the number of accounts and offices, and the small-business credit they extend, if any.

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Authorizing Statute(s): US Code: 12 USC 225a Name of Law: Federal Reserve Act
   US Code: 12 USC 263 Name of Law: Federal Reserve Act
   US Code: 12 USC 355-59 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:
	81 FR 1421	01/12/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 15109	03/21/2016
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
Census of Finance Companies	FR 3033p	Census of Finance Companies
Survey of Finance Companies	FR 3033s	Survey of Finance Companies

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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	17,200	16,000	0	1,200	0	0
Annual Time Burden (Hours)	9,800	8,000	0	1,800	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: The total reporting burden for FR 3033p is estimated to be 8,000 hours. Based on an estimated response rate of 40 percent, approximately 1,200 of the 3,000 finance companies would complete the FR 3033s. The total reporting burden for FR 3033s is estimated to be 1,800 hours. The total annual burden for the FR 3033 information collection is estimated to increase from 8,000 hours to 9,800 hours.

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Annual Cost to Federal Government: $256,000

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: 04/27/2017

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