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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1550-0023
ICR Reference No:
200612-1550-004
Status:
Historical Active
Previous ICR Reference No:
200608-1550-001
Agency/Subagency:
TREAS/OTS
Agency Tracking No:
Title:
Thrift Financial Report
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
12/29/2006
OIRA Conclusion Action:
Approved without change
Conclusion Date:
01/05/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/29/2006
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2007
6 Months From Approved
09/30/2009
Responses
12
0
12
Time Burden (Hours)
198,559
0
199,413
Cost Burden (Dollars)
0
0
0
Abstract:
OTS collects financial data from insured savings associations, their subsidiaries, and their holding companies in order to assure their safety and soundness as depositories of the personal of the personal monies of the general public. OTS monitors financial positions and interest-rate risk so that adverse conditions can be remedied promptly.
Emergency Justfication:
The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the appropriate page of these reporting forms. The burden associated with these data are 15 minutes per quarter. As discussed by the FRB with Alex Hunt, the agencies will advise the public of the elimination of the reporting requirement in the final Federal Register notice announcing the proposed changes for 2007. In addition, the agencies will send a letter to financial institutions informing them that the data do not need to be reported effective for the December 31, 2006 as-of date. Emergency review is necessary in order to make the change effective for the December 31, 2006 report date.
Authorizing Statute(s):
None
Citations for New Statutory Requirements:
PL: Pub.L. 109 - 351 601 Name of Law: Financial Services Regulatory Relief Act of 2006
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
71 FR 63848
10/31/2006
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Thrift Financial Report
OTS-1313, OTS-1568
Monthly Cost of Funds Survey System Worksheet
,
Thrift Financial Report 2006
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
12
12
0
0
0
0
Annual Time Burden (Hours)
198,559
199,413
-854
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the appropriate page of these reporting forms. The burden associated with these data are 15 minutes per quarter.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
William Shively 202 906-5701 william.shively@ots.treas.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
12/29/2006
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