Consolidated Report of Condition and Income for Edge and Agreement Corporations

ICR 202007-7100-010

OMB: 7100-0086

Federal Form Document

ICR Details
7100-0086 202007-7100-010
Active 201903-7100-016
FRS FR 2886b
Consolidated Report of Condition and Income for Edge and Agreement Corporations
Revision of a currently approved collection   No
Emergency 07/28/2020
Approved without change 07/29/2020
Retrieve Notice of Action (NOA) 07/28/2020
  Inventory as of this Action Requested Previously Approved
01/31/2021 6 Months From Approved 03/31/2022
128 0 128
1,652 0 1,652
0 0 0

The FR 2886b reporting form is filed quarterly or annually by Edge and agreement corporations (collectively, Edges or Edge corporations). The Federal Reserve is solely responsible for authorizing, supervising, and assigning ratings to Edges. The Federal Reserve uses the data collected on the FR 2886b to supervise Edge corporations and to monitor and develop a better understanding of Edge activities.
The delegation of authority to the Board from OMB that permits the Board to approve collections of information under the Paperwork Reduction Act includes the authority to temporarily approve a collection of information without seeking public comment. To exercise this authority, the Board must determine that a new collection of information or a change to an existing collection must be instituted quickly and that public participation in the approval process would substantially interfere with the Board’s ability to perform its statutory obligation. Following the temporary approval of an information collection, the Board must conduct a normal delegated review of the collection within six months, including publishing in the Federal Register a notice seeking public comment. In response to recent economic disruptions and volatility in U.S. financial markets caused by the spread of Coronavirus Disease 2019 (COVID-19), the Board temporarily revised the FR 2886b effective beginning with the June 30, 2020, as-of date.

US Code: 12 USC 602 Name of Law: Federal Reserve Act
   US Code: 12 USC 625 Name of Law: Federal Reserve Act
  
None

Not associated with rulemaking

No

  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 128 128 0 0 0 0
Annual Time Burden (Hours) 1,652 1,652 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$204,300
No
    Yes
    No
No
No
No
Yes
Scott Farmer 202-452-2253 Scott.W.Farmer@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.
07/28/2020


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