[Federal Register: April 9, 1998 (Volume 63, Number 68)]
[Notices]               
[Page 17418-17419]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09ap98-90]

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FEDERAL RESERVE SYSTEM

 
Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Board of Governors of the Federal Reserve System
ACTION: Notice

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BACKGROUND: On June 15, 1984, the Office of Management and Budget (OMB) 
delegated to the Board of Governors of the Federal Reserve System 
(Board) its approval authority under the Paperwork Reduction Act, as 
per 5 CFR 1320.16, to approve of and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board under conditions set forth in 5 CFR 1320 
Appendix A.1. The Federal Reserve may not conduct or sponsor, and the 
respondent is not required to respond to, an information collection 
that has been extended, revised, or implemented on or after October 1, 
1995, unless it displays a currently valid OMB control number. Board-
approved collections of information will be incorporated into the 
official OMB inventory of currently approved collections of 
information. A copy of the OMB 83-I and supporting statement and the 
approved collection of information instrument will be placed into OMB's 
public docket files. The following information collection, which is 
being handled under this delegated authority, has received initial 
Board approval and is hereby published for comment. At the end of the 
comment period, the proposed information collection, along with an 
analysis of comments and recommendations received, will be submitted to 
the Board for final approval under OMB delegated authority. Comments 
are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Federal Reserve's functions; including 
whether the information has practical utility;
    b. The accuracy of the Federal Reserve's estimate of the burden of 
the proposed information collection,

[[Page 17419]]

including the validity of the methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.
DATES: Comments must be submitted on or before June 8, 1998.
ADDRESSES: Comments, which should refer to the OMB control number or 
agency form number, should be addressed to William W. Wiles, Secretary, 
Board of Governors of the Federal Reserve System, 20th and C Streets, 
N.W., Washington, DC 20551, or delivered to the Board's mail room 
between 8:45 a.m. and 5:15 p.m., and to the security control room 
outside of those hours. Both the mail room and the security control 
room are accessible from the courtyard entrance on 20th Street between 
Constitution Avenue and C Street, N.W. Comments received may be 
inspected in room M-P-500 between 9:00 a.m. and 5:00 p.m., except as 
provided in section 261.14 of the Board's Rules Regarding Availability 
of Information, 12 CFR 261.14(a).
    A copy of the comments may also be submitted to the OMB desk 
officer for the Board: Alexander T. Hunt, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and 
instructions, the Paperwork Reduction Act Submission (OMB 83-I), 
supporting statement, and other documents that will be placed into 
OMB's public docket files once approved may be requested from the 
agency clearance officer, whose name appears below.
    Mary M. McLaughlin, Chief, Financial Reports Section (202-452-
3829), Division of Research and Statistics, Board of Governors of the 
Federal Reserve System, Washington, DC 20551. Telecommunications Device 
for the Deaf (TDD) users may contact Diane Jenkins (202-452-3544), 
Board of Governors of the Federal Reserve System, Washington, DC 20551.
    Proposal to approve under OMB delegated authority the 
implementation of the following report:
    1. Report title: Survey of Small Business Finances
Agency form number: FR 3044
OMB control number: 7100-0262
Frequency: one-time
Reporters: small businesses
Annual reporting hours: 6,100
Estimated average hours per response: 1
Number of respondents: 6,100
Small businesses are affected.
    General description of report: This information collection would be 
voluntary (12 U.S.C. 252, 1817(j), 1828(c), and 1841 et seq.). 
Individual respondent data would be provided in a public-use file. 
However, any information that could identify respondent firms, or the 
financial institutions that they use, would be excluded from the public 
data set pursuant to the Freedom of Information Act [5 U.S.C. Sec.  
552(b)(4)].
    Abstract: The FR 3044 would be similar to the 1987 and 1993 
National Surveys of Small Business Finances (OMB Nos. 7100-0234 and 
7100-0262, respectively). In part, this survey is being conducted to 
collect information needed to satisfy the requirements of Section 2227 
of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. 
This law requires the Board to conduct a study and submit a report to 
the Congress every five years ``...detailing the extent of small 
business lending by all creditors....''
    The FR 3044 would gather data from small businesses on their 
financial relationships, credit experiences, lending terms and 
conditions, income and balance sheet information, the location and 
types of financial institutions used, and other firm characteristics. 
The survey would be conducted by a private survey firm to be chosen in 
a competitive bidding process. In conjunction with Board staff, the 
survey firm would conduct small focus groups to investigate emerging 
issues in small business finance and update the 1993 questionnaire. The 
survey firm would then conduct two pretests with a minimum of fifty 
small business firms in each pretest. Following revisions to the 
questionnaire, the survey would be conducted by means of computer-
assisted telephone interviews with approximately 6,000 randomly 
selected small business firms. Interviewing would likely commence in 
early 1999.
    Board of Governors of the Federal Reserve System, April 3, 1998.
William W. Wiles,
Secretary of the Board.
[FR Doc. 98-9355 Filed 4-8-98; 8:45AM]
Billing Code 6210-01-F