Fed Reserve Eyes Three More Years of Farm Surveys
Published Date: 4/10/2026
Notice
Summary
The Federal Reserve wants to keep collecting info from small businesses and farms for three more years but with some updates to the survey. If you’re a small business or farm, this affects you because your feedback helps shape lending rules. You’ve got until June 9, 2026, to share your thoughts—no cost to you, just a chance to speak up!
Analyzed Economic Effects
5 provisions identified: 2 benefits, 2 costs, 1 mixed.
Quarterly Reporting Burden Remains
The survey stays quarterly. The FR 2028B panel is authorized at 250 domestically chartered commercial banks and the FR 2028D panel is authorized at 398 banks. Estimated average hours per response are 1.45 for FR 2028B and 2.75 for FR 2028D, with total annual burden hours estimated at 5,828 and the total estimated change in burden reported as 0.
Survey Extended Three Years
The Federal Reserve proposes to extend the Survey of Small Business and Farm Lending (FR 2028) for three more years and to revise the collection. The Board is requesting public comments by June 9, 2026.
Forms Combined to Cut Burden
The FR 2028B and FR 2028S reports will be combined into one FR 2028B form, effective as of August 3, 2026, with transmissions beginning August 10, 2026. The change adds an email contact field and a "no loans to report" indicator and is intended to reduce administrative and respondent burden.
FR 2028D Instructions Clarified
The FR 2028D instructions will be revised, effective for the September 30, 2026 as-of date with transmissions beginning October 1, 2026, to clarify the meaning of "maximum maturity" (items 5e and 7e) and "commitment" (items 6 and 8). The Board says these wording changes are to improve data quality.
Public Comments Open Until June 9, 2026
The Board invites public comment on the collection and will accept submissions identified by FR 2028 through June 9, 2026. Comments received are subject to public disclosure and may be posted on the Board's website.
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