Survey of Consumer Finances

ICR 201808-7100-011

OMB: 7100-0287

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Form and Instruction
Modified
Supporting Statement B
2018-08-29
Supporting Statement A
2018-08-29
IC Document Collections
IC ID
Document
Title
Status
188739 Modified
188402 Modified
ICR Details
7100-0287 201808-7100-011
Active 201807-7100-013
FRS FR 3059
Survey of Consumer Finances
Extension without change of a currently approved collection   No
Delegated
Approved without change 08/29/2018
Retrieve Notice of Action (NOA) 08/29/2018
  Inventory as of this Action Requested Previously Approved
08/31/2021 36 Months From Approved 10/31/2018
7,150 0 7,150
10,725 0 10,725
0 0 0

This would be the thirteenth triennial SCF since 1983, the beginning of the current series. This survey is the only source of representative information on the structure of U.S. families’ finances. The survey would collect data on the assets, debts, income, work history, pension rights, use of financial services, and attitudes of a sample of U.S. families. Because the ownership of some assets is relatively concentrated in a small number of families, the survey would make a special effort to ensure proper representation of such assets by systematically oversampling wealthier families. The Board proposes to conduct (1) up to 150 interviews averaging about 90 minutes (main pretest) to be obtained in a test or series of tests of the survey procedures in 2018 and (2) up to 7,000 interviews averaging about 90 minutes (main survey) between April 2019 and March 2020. The surveys would be conducted by an outside contractor. The pretest and the main survey would be collected using a computer program; thus, there is no hardcopy version of the questionnaire other than the text of the computer program. The wording of the survey questions would be modified to reflect the outcome of the pretest, but it is anticipated that such changes would be relatively small.

US Code: 12 USC 263 Name of Law: Federal Reserve Act
   US Code: 12 USC 225a Name of Law: Federal Reserve Act
  
None

Not associated with rulemaking

  83 FR 11520 03/15/2018
83 FR 26286 06/06/2018
No

2
IC Title Form No. Form Name
Pre-test FR 3059 Survey of Consumer Finances (Survey Codebook)
Main survey FR 3059 Survey of Consumer Finances (Survey Codebook)

  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 7,150 7,150 0 0 0 0
Annual Time Burden (Hours) 10,725 10,725 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$16,100,000
Yes Part B of Supporting Statement
    Yes
    Yes
No
No
No
Uncollected
Lois Lawrence 202-452-2984 Lois.D.Lawrence@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.
08/29/2018


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