View Information Collection Request (ICR) Package
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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:
1505-0219
ICR Reference No:
200905-1505-001
Status:
Historical Inactive
Previous ICR Reference No:
Agency/Subagency:
TREAS/DO
Agency Tracking No:
TARP, ARRA
Title:
TARP CAPITAL PURCHASE PROGRAM Executive Compensation
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
06/15/2009
OIRA Conclusion Action:
Preapproved
Conclusion Date:
06/12/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/12/2009
Terms of Clearance:
Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2009
6 Months From Approved
Responses
2,957
0
0
Time Burden (Hours)
8,600
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Authorized under the Emergency Economic Stabilization Act (EESA) of 2008 (Public Law 110-343), as amended by the American Recovery and Reinvestment Act (ARRA) of 2009, the Department of the Treasury (Treasury) is implementing several aspects of the Troubled Asset Relief Program (TARP). The statute provides the Secretary broad authority to purchase and insure mortgage assets, and to purchase any other financial instrument that the Secretary, in consultation with the Federal Reserve Chairman, determines necessary to stabilize our financial markets. The interim rule sets forth additional executive compensation requirements under EESA as required by the amendments to EESA under ARRA. The information collections included in this interim final rule provides reporting and recordkeeping requirements for executive compensation.
Emergency Justfication:
The Department of the Treasury (Treasury) respectfully requests emergency processing and approval of the collection of information contained in the interim rule to amend executive compensation requirements for participants in the Troubled Asset Relief Program (TARP). The collection of information is needed to fulfill Treasurys responsibilities under the Emergency Economic Stabilization Act (EESA) of 2008 (Public Law 110-343; approved October 3, 2008), as amended by the American Recovery and Reinvestment Act (ARRA) of 2009 (Public Law 111-5 enacted February 17, 2009). Treasury cannot reasonably comply with the normal clearance procedures under 5 C.F.R. Part 1320 because of the current turmoil in the financial markets.
Authorizing Statute(s):
PL:
Pub.L. 111 - 5 1
Name of Law: American Recovery and Reinvestment Act of 2009
PL:
Pub.L. 110 - 343 1
Name of Law: Emergency Economic Stabilization Act of 2008
Citations for New Statutory Requirements:
PL: Pub.L. 110 - 343 1 Name of Law: Emergency Economic Stabilization Act of 2008
PL: Pub.L. 111 - 5 1 Name of Law: American Recovery and Reinvestment Act of 2009
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1505-AC09
Final or interim final rulemaking
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
7
IC Title
Form No.
Form Name
Bonus, Retention Awards, and Other Compensation Submission
Compensation Committee Risk Certification
Engagement of Compensation Consultant Narrative Description
Primary Executive and Financial Officers, Annual Certification
Senior Executive Officers and Highly Compensated Employees Disclosure
Special Master on Executive Compensation Advisory Opinion Request
Special Master on Executive Compensation Submission
ICR Summary of Burden
Total Request
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
2,957
0
2,957
0
0
0
Annual Time Burden (Hours)
8,600
0
8,600
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:
This is a new collection.
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)?
Yes
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Suzanne Tosini 2029279627
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:
06/12/2009
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