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View ICR - OIRA Conclusion

OMB Control No: 3064-0163	ICR Reference No: 200807-3064-003
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Qualified Financial Contracts
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: Preapproved	Conclusion Date: 08/30/2008
	Date Received in OIRA: 07/28/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2011	36 Months From Approved
Responses	2,400	0	0
Time Burden (Hours)	9,600	0	0
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Request	Change Due to Agency Discretion
Annual Number of Responses	2,400	2,400
Annual Time Burden (Hours)	9,600	9,600
Annual Cost Burden (Dollars)	0	0

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: The program changes in this ICR are associated with a notice of proposed rulemaking to establish recordkeeping and reporting requirements for Qualified Financial Contracts (QFCs)held by insured depository institutions in troubled condition, as defined in the rule. QFCs are certain financial contracts that have been defined in the Federal Deposit Insurance Act and that receive special treatment by the FDIC in the event of the failure of an insured institution, allowing the FDIC to reduce losses to the deposit insurance fund and retain the value of the failed institution's portfolio, while minimizing the potential for market disruptions that could occur with the liquidation of a large QFC portfolio.

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