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OMB Control No: 7100-0372	ICR Reference No: 202003-7100-002
Status: Historical Active	Previous ICR Reference No: 201104-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR RR
Title: Recordkeeping and Disclosure Requirements Associated with Regulation RR
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/04/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/04/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	195	0	195
Time Burden (Hours)	2,114	0	2,114
Cost Burden (Dollars)	0	0	0

Abstract: In 2014, the Board, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC) (collectively, the Federal banking agencies), U.S. Securities and Exchange Commission (SEC), Federal Housing Finance Agency (FHFA), and Department of Housing and Urban Development (HUD) (collectively, the agencies) adopted a joint final rule (credit risk retention rule) that implemented the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (Exchange Act), which was added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Board’s credit risk retention rule, which applies to any securitizer of asset-backed securities (securitizer) that is a state member bank (SMB) or a subsidiary of an SMB, is codified in the Board’s Regulation RR - Credit Risk Retention (12 CFR 244). The SEC’s rules regarding credit risk retention (17 CFR 246) apply to any securitizer that is not an insured depository institution (IDI) or a subsidiary of an IDI. Regulation RR and the SEC’s credit risk retention rule include a number of mandatory recordkeeping and disclosure requirements. The Board’s FR RR information collection accounts for the burden associated with the Board’s Regulation RR, as well as the burden associated with the SEC’s credit risk retention rule for securitizers that are, or are a subsidiary of, a bank holding company, savings and loan holding company, intermediate holding company, Edge or agreement corporation, foreign banking organization, or nonbank financial company supervised by the Board.

Authorizing Statute(s): US Code: 15 USC 78o-11 Name of Law: Securities Exchange Act of 1934

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:
	84 FR 51569	09/30/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 3045	01/17/2020
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved
Annual Number of Responses	195	195
Annual Time Burden (Hours)	2,114	2,114
Annual Cost Burden (Dollars)	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:

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. 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)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Mark Tokarski 202-452-5241 Mark.E.Tokarski@frb.gov

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