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
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.