This triennial survey is the only
source of representative information on the structure of U.S.
families’ finances. The survey collects 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 makes a special effort to ensure proper
representation of such assets by systematically oversampling
wealthier families. For the 2025 SCF, the Board will conduct (1) up
to 150 interviews averaging about 110 minutes (pretest) to be
obtained in a test or series of tests of the survey procedures in
2025 and (2) up to 7,000 interviews averaging about 110 minutes
(main survey) between April 2025 and March 2026. The pretest
interviews and surveys will be conducted by an outside contractor.
The pretest and the main survey will be collected by a field
interviewer, either in person or on the phone, using a
computer-assisted personal interview (CAPI) instrument. There is no
hardcopy version of the questionnaire other than the text of the
computer program. The wording of the survey questions will be
modified to reflect the outcome of the pretest, but it is
anticipated that such changes will be relatively small.
US Code:
12
USC 225a Name of Law: Federal Reserve Act
US Code: 12
USC 263 Name of Law: Federal Reserve Act
US Code: 12
USC 263(c) Name of Law: Federal Reserve Act
Because the survey is issued
once every three years, the estimated average time per response has
been divided by three to accurately show the annual burden hours.
The pretest survey and main survey both take an estimated 110
minutes per response so the annual time per response would be 37
minutes.
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.