Policy Impact Survey

Forms and Documents

Document Name	Status
2-FR3075_PolicyImpactSurvey_20140909_omb.pdf Supporting Statement A	2014-09-09

IC Document Collections

IC ID	Document Title	Status
212619	Policy Impact Survey Other-Sample Survey Categories	New

ICR Details

OMB Control No: 7100-0362	ICR Reference No: 201408-7100-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: FR 3075
Title: Policy Impact Survey
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/17/2014
	Date Received in OIRA: 09/17/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2017	36 Months From Approved
Responses	975	0	0
Time Burden (Hours)	58,500	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FR 3075 collects information from select institutions regulated by the Federal Reserve in order to assess the effects of proposed, pending, or recently-adopted policy changes at the domestic and international levels. For example, the survey collects information used for certain quantitative impact studies (QISs) sponsored by bodies such as the Basel Committee on Banking Supervision and the Financial Stability Board. Recent QISs have included the Basel III monitoring exercise, which monitors the global impact of the Basel III framework, and the global systemically important bank exercise, which assesses a firm's systemic risk profile. Since the collected data may change from survey to survey, there is no fixed reporting form. The data submission timeline for each survey will be determined prior to the distribution of the survey materials. In soliciting participation, the Federal Reserve will explain to respondents the purpose of the survey and how the data will be used. While the number of respondents may fluctuate between surveys, the survey may be conducted up to 15 times per year.

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Authorizing Statute(s): US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 1467a(b)(2) Name of Law: Home Owners Loan Act
   US Code: 12 USC 5361(a) Name of Law: Dodd-Frank Act
   US Code: 12 USC 3106(a) and 3105(c)(2) Name of Law: International Banking Act of 1978
   US Code: 12 USC 324, 602, and 605 Name of Law: Federal Reserve Act
   US Code: 12 USC 1817(a) Name of Law: Federal Deposit Insurance Act
   US Code: 5 USC 552(b)(4), (b)(6), and (b)(8) Name of Law: Freedom of Information Act
   US Code: 12 USC 225a and 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:
	79 FR 34751	06/18/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 53426	09/09/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Policy Impact 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	975	0	0	975	0	0
Annual Time Burden (Hours)	58,500	0	0	58,500	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: On June 18, 2014, the Federal Reserve published a notice in the Federal Register (79 FR 34751) requesting public comment for 60 days on the proposal to implement the Policy Impact Survey. The comment period for this notice expired on August 18, 2014. The Federal Reserve did not receive any comments. On September 9, 2014, the Federal Reserve published a final notice in the Federal Register (79 FR 53426) implementing the FR 3075 as proposed.

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Annual Cost to Federal Government: $0

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: 09/17/2014

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