The Board of Governors of the Federal Reserve System is seeking public feedback on a proposal to extend and revise an information collection initiative, identified as FR 2046. This initiative tracks certain financial data from organizations that borrow from the Federal Reserve's discount window. The proposed revision would eliminate the reporting exemption for some seasonal credit borrowers. The Board is interested in comments on the necessity, accuracy, and impact of this data collection, and submissions should be made by May 27, 2025.
Simple Explanation
The Federal Reserve wants to hear what people think about their plan to keep asking certain banks and lenders for financial information when they borrow money. They also want to stop letting some of these lenders skip reporting. They're looking for feedback until the end of May 2025.