View Information Collection Request (ICR) Package
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View Supporting Statement and Other Documents
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:
3064-0162
ICR Reference No:
200805-3064-001
Status:
Historical Inactive
Previous ICR Reference No:
Agency/Subagency:
FDIC
Agency Tracking No:
Title:
Large-Bank Deposit Insurance Programs
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule
Conclusion Date:
07/25/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/21/2008
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
36 Months From Approved
Responses
0
0
0
Time Burden (Hours)
0
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
The FDIC is establishing regulations intended to modernize the process of determining the insurance status of each depositor in the event of a depository institution failure. The regulations will enable operations of a large insured depository institution to continue functioning on the day following failure, support the FDICs efforts to fulfill its legal mandates regarding the resolution of failed insured deposit institutions, and apply to the largest institutions only ($2 billion in domestic deposits or more). More specifically, the regulations would require the largest insured depository institutions to adopt mechanisms that would, in the event of the institutions failure, (1) provide the FDIC with standard deposit account and customer information, and (2) allow the FDIC to place and release holds on liability accounts, including deposits.
Authorizing Statute(s):
US Code:
12 USC 1821(d)(1), (10)(C), (11)
Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 1821(e)(1), (8)(D)(i)
Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 1823(c)(4), (e)(2)
Name of Law: Federal Deposit Insurance Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3064-AD26
Proposed rulemaking
73 FR 2364
01/14/2008
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
73 FR 2364
01/14/2008
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Large-Bank Deposit Insurance Determination
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
This is a new record collection. The largest insured depository institutions are growing increasingly complex. The FDIC is adopting a new regulation, 12 CFR 360.9, designed to allow the deposit operations of a failed institution to be continued on the day following failure, facilitate an insurance determination, and improve upon access to depositor funds if one of these large institutions were to fail. This new record collection requires Covered Institutions to provide the FDIC with the name(s) of contacts; develop written practices and procedures for providing the FDIC with required deposit account and customer data in a standard format upon the close of any days business; provide data to the FDIC pursuant to testing and verification procedures; and acquire and/or modify and maintain an information systems in order to respond to the information requirements.
Annual Cost to Federal Government:
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:
Valerie Best 2028983812 vbest@fdic.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:
05/21/2008
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