View Information Collection Request (ICR) Package

OMB Control No: 1505-0219	ICR Reference No: 201008-1505-004
Status: Historical Active	Previous ICR Reference No: 201003-1505-004
Agency/Subagency: TREAS/DO	Agency Tracking No: TARP
Title: TARP Capital Purchase Program Executive Compensation
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/22/2010
	Date Received in OIRA: 09/17/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2013	36 Months From Approved	11/30/2010
Responses	3,076	0	2,957
Time Burden (Hours)	12,151	0	8,600
Cost Burden (Dollars)	0	0	0

Abstract: Authorized under the Emergency Economic Stabilization Act of 2008 (EESA), Public Law 110-343, as amended by the American Recovery and Reinvestment Act of 2009 (ARRA), Public Law 111-5, the Department of the Treasury (Treasury) established the Troubled Asset Relief Program (TARP) to purchase, and to make and fund commitments to purchase, troubled assets from any financial institution on such terms and conditions determined by the Secretary. Section 111 of EESA, as amended by ARRA, provides that certain entities receiving financial assistance from Treasury under TARP (TARP recipients) will be subject to specified executive compensation and corporate governance standards established by the Secretary. These standards were set forth in the interim final rule published on June 15, 2009 (74 FR 28394), as corrected on December 7, 2009 (74 FR 63990) (the Interim Final Rule). The standards implemented in the Interim Final Rule require that TARP recipients submit certain information pertaining to their executive compensation and corporate governance practices.

Authorizing Statute(s): 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

Citations for New Statutory Requirements: None

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:
	75 FR 41572	07/16/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 55634	09/13/2010
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	3,076	2,957	119
Annual Time Burden (Hours)	12,151	8,600	3,551
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The number of TARP recipients who received assistance from Treasury and awarded executive compensation before February 17, 2009, was 419 firms rather than 300 firms as first estimated. With more firms, the total annual burden hours required for the firms to complete their submissions increased. Additionally, the burden hours required per response were significantly higher than initially estimated for the seven exceptional assistance firms to complete their submissions regarding the approval of all compensation payments to, and compensation structures for, senior executive officers and the most highly compensated employees subject to certain bonus prohibitions under the statute, as well as the approval of the compensation structures for any employee who is either an executive officer or one of the top 100 most highly compensated employees and is not subject to the bonus prohibitions under the statute.

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: Daniel Abramowitz 202 927-9645 Daniel.Abramowitz@do.treas.gov

View ICR - OIRA Conclusion