Interchange Transaction Fees Survey

Forms and Documents

Document Name	Status
Form FR 3064b Payment Card Network Survey Form and Instruction	Modified
Form FR 3064a Debit Card Issuer Survey Form and Instruction	Modified
FR3064a_FR3064b_20170118_omb.pdf Supporting Statement A	2017-01-18

IC Document Collections

IC ID	Document Title	Status
199496	Payment Card Network Survey Form and Instruction	Modified
199495	Debit Card Issuer Survey Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0344	ICR Reference No: 201611-7100-004
Status: Historical Active	Previous ICR Reference No: 201609-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR 3064
Title: Interchange Transaction Fees Survey
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: 01/18/2017
	Date Received in OIRA: 01/18/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	01/31/2017
Responses	575	0	575
Time Burden (Hours)	90,555	0	112,875
Cost Burden (Dollars)	0	0	0

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Abstract: The mandatory Interchange Transaction Fees Survey which is composed of the following reports (1) the Debit Card Issuer Survey (FR 3064a) collects data from issuers of debit cards (including general-use prepaid cards) that, together with affiliates, have assets of $10 billion or more, including information regarding the volume and value of debit card (including general-use prepaid card) transactions; costs of authorization, clearance, and settlement of debit card transactions; associated interchange fees; payments; and incentives paid by networks to issuers, and the incidence of and losses due to debit card fraud and (2) the Payment Card Network Survey (FR 3064b) collects data from payment card networks including the volume and value of debit card (including general-use prepaid card) transactions; associated interchange fees; network fees; and payments and incentives paid by networks to acquirers, merchants, and issuers.

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Authorizing Statute(s): US Code: 15 USC 1693o-2(a)(3)(B) Name of Law: Electronic Fund Transfer 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 52689	08/09/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 79484	11/14/2016
Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Debit Card Issuer Survey	FR 3064a	Debit Card Issuer Survey
Payment Card Network Survey	FR 3064b	Payment Card Network 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	575	575	0	0	0	0
Annual Time Burden (Hours)	90,555	112,875	0	-22,320	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 current annual reporting burden for the surveys is estimated to be 112,875 hours and would decrease to 90,555 hours. The proposed revisions to the FR 3064a would result in a decrease of 8 data items (associated with the deletion of 2 break outs of data items in each of the 4 sections). Therefore, the Federal Reserve estimates the average hours per response for the 558 issuers would decrease from 200 hours to 160 hours. The estimated burden, however, would likely be lower for the FR 3064a if holding companies consolidate the responses of their individual issuer subsidiaries. The FR 3064b estimated burden is unchanged.

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Annual Cost to Federal Government: $172,500

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]? Yes

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: 01/18/2017

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