May 26 -- The Board of Governors of the Federal Reserve System (Board) invites comment by July 26, 2021 on a proposal to extend for three years, without revision, a periodic Supervisory and Regulatory Survey of financial institutions.
The Supervisory and Regulatory Survey (FR 3052) collects information from financial institutions specifically tailored to the Federal Reserve's supervisory, regulatory, and operational responsibilities. The Board indicates 5,000 respondents to FR 3052, which include bank holding companies (BHCs), state member banks (SMBs), savings and loan holding companies (SLHCs), intermediate holding companies (IHCs), U.S. branches and agencies of foreign banking organizations (FBOs), Edge Act and agreement corporations, nonbank financial companies that the Financial Stability Oversight Council (FSOC) has determined should be supervised by the Board, and the combined domestic operations of FBOs. The Board utilizes the survey process, as needed, to collect information on specific issues that affect its decision making. For the Board's consideration, the public is may suggest Board approaches to conducting FR 3052.
The principal value of the FR 3052 is the flexibility it provides the Federal Reserve to respond quickly to the need for data due to unanticipated economic, financial, supervisory, or regulatory developments. The Board cannot predict what specific information will be needed, but such needs are generally very time sensitive. The data submission timeline for each survey varies and would be determined before distribution of the survey materials to respondents. Because the relevant questions may change with each survey, there is no fixed reporting form. Past surveys have collected information related to energy lending exposure, cloud-based data exchange services, regulatory capital, Comprehensive Capital Analysis and Review, operational risk loss event history, transactions by government securities dealers, and small debit card issuers.
Written qualitative questions or questionnaires may include categorical questions, yes-no questions, ordinal questions, and open-ended questions. Written quantitative surveys may include dollar amounts, percentages, numbers of items, interest rates, and other such information. Institutions might also be asked to provide copies of existing documents (for example, pertaining to practices and performances for a particular business activity). Before conducting a survey, the Board reviews any information to be collected to determine if the information is available by other means.
The questions asked on each survey will vary. The Board's ability to keep confidential responses to the FR 3052 must therefore be determined on a case-by-case basis. Responses to the FR 3052 are tabulated and summarized at the Board. This aggregate information is not considered confidential, and aggregate survey information may be cited in published material such as Board studies or working papers, professional journals, the Federal Reserve Bulletin, testimony and reports to the Congress, or other vehicles.
FR notice inviting comment on FR 3052: https://www.federalregister.gov/documents/2021/05/26/2021-11151/proposed-agency-information-collection-activities-comment-request
Draft supporting statement for FR 3052: https://www.federalreserve.gov/reportforms/formsreview/FR_3052_OMB_SS.pdf