OMB Supporting Statement for the Policy Impact Survey (FR 3075; OMB No. 7100-0362)

This survey collects information from certain types of institutions regulated by the Board in order to assess the effects of proposed, pending, or recently adopted policy changes at the domestic and international levels.1 The Board uses the survey to collect information used for certain quantitative impact studies (QISs)2 sponsored by financial stability bodies such as the Basel Committee on Banki. [...] The collected information is important to the Board’s supervisory mission, and without the information, the Board would be less equipped to evaluate the potential impact that proposed policy changes would have on supervised institutions. [...] The principal value of the FR 3075 is the flexibility it provides the Board to participate in multilateral data collection efforts related to rapidly evolving economic developments and global financial stability. [...] In soliciting participation, the Board explains to respondents the purpose of the survey and how the data would be used. [...] Estimate of Cost to the Federal Reserve System The cost of the surveys depends on the size of the sample, the number of questions asked, the type and complexity of the questions asked, and the frequency of the surveys.