The Board uses this voluntary survey
to obtain household-based information specifically tailored to the
Board’s policy, regulatory, and operational responsibilities. The
Board primarily uses the survey to study consumer financial
decisions, attitudes, and payment behavior. Currently, the
University of Michigan’s Survey Research Center (SRC) includes
survey questions on behalf of the Board in an addendum to their
regular monthly Survey of Consumer Attitudes and Expectations. The
SRC conducts the survey by telephone with a sample of 500
households and asks questions of special interest to the
Board.
US Code:
12
USC 225a Name of Law: Federal Reserve Act
US Code: 12
USC 263 Name of Law: Federal Reserve Act
The current annual respondent
burden for the Board’s SRC and Non-SRC surveys is estimated to be
633 hours, and would decrease by 475 hours to 158 hours with the
proposed revisions. The Board proposes to eliminate the Division of
Consumer and Community Affairs (DCCA) and other divisions’ SRC
surveys, as well as the non-SRC surveys in this information
collection, as these surveys have not been conducted since 2010 and
are not expected to be utilized in the next several years.
$93,798
No
No
No
No
No
No
Uncollected
Jennifer Williams 202 452-2446
jennifer.l.williams@frb.gov
No
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:
(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;
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.