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	Modified
FR3033p_20200416_omb_B.pdf Supporting Statement B	2020-04-16
FR3033_20200416_omb.pdf Supporting Statement A	2020-04-16

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	Modified

ICR Details

OMB Control No: 7100-0277	ICR Reference No: 202004-7100-007
Status: Active	Previous ICR Reference No: 201606-7100-003
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: 04/16/2020
	Date Received in OIRA: 04/16/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2023	36 Months From Approved	04/30/2020
Responses	14,000	0	17,200
Time Burden (Hours)	6,024	0	9,800
Cost Burden (Dollars)	0	0	0

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Abstract: The Census of Finance Companies (FR 3033p) is the first part of a two-stage survey series, which has been conducted at a regular five-year interval since 1955. The FR 3033p is a census survey designed to identify the universe of finance companies eligible for potential inclusion in the FR 3033s and to enable the stratification of the sample for a more statistically efficient estimation. The FR 3033p gathers limited information including total assets, areas of specialization, and information on the corporate structure of the companies. The second part of this information collection, the Survey of Finance Companies (FR 3033s), collects balance sheet data on major categories of consumer and business credit receivables and major liabilities and is used to gather information on the geographic scope of the company’s operations and loan and lease servicing activities.

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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
  

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:
	85 FR 2740	01/16/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 20496	04/13/2020
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	14,000	17,200	0	-3,200	0	0
Annual Time Burden (Hours)	6,024	9,800	0	-3,776	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 3033 is 9,800 hours, and would decrease to 6,024 hours with the adopted revisions. The total number of respondents including those that will respond to the nonresponse follow-up for the FR 3033p is based on an estimated response rate of 30 percent of 40,000 potential respondents and a lower response rate of 20 percent of 4,000 nonrespondents selected for follow-up, which equals 12,800 respondents. The response rate of 30 percent was based on the 2015 FR 3033p actual response rate of 32 percent. As there are no changes being proposed for the FR 3033s at this time, the burden will stay the same.

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Annual Cost to Federal Government: $536,300

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

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? 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: 04/16/2020

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