1550.0005 -- Supportin.Statement.2

Supporting Statement

OMB 1550-0005

Page 3

SUPPORTING STATEMENT

FOR

Interagency Charter and Federal Deposit Insurance Application

OMB CONTROL NO. 1550-0005

A. JUSTIFICATION

1. Circumstances and Need

Organizers of a Federal savings association must file an Interagency Charter and Federal Deposit Insurance Application for permission to organize with the Office of Thrift Supervision (“OTS”). The submission is required to establish a Federal savings association or a Federal savings bank, and the issuance of a Federal charter, pursuant to 12 C.F.R. Parts 543 and 552.

Third Party Notification

The applicant shall publish notice no earlier than seven days before and no later than the date of filing of the application. The applicant publishes a notice(s) in accordance with requirements set forth in 12 C.F.R. Subpart B, Publication Requirements, Sections 516.50, 516.60, 516.70, and 516.80.

2. Use of Information Collected

OTS analyzes each information collection to determine whether to approve the proposed application for a Federal charter.

3. Use of Technology to Reduce Burden

Currently, this information collection is not amenable to reduction through improved technology.

4. Efforts to Identify Duplication

There is no information requested on the forms that is collected by OTS in any other way.

5. Minimizing the Burden on Small Firms

The statutory provisions do not provide for OTS to distinguish a respondent by the size of its business. Collection of the information required is essential, regardless of the size of the entity involved.

6. Consequences of Less Frequent Collection

It would be impossible for OTS to evaluate the proposed application if the required information were not provided.

7. Special Circumstances

The information collection, under certain circumstances, requires additional copies of the filings than specified in 5 C.F.R. 1320.6 The additional copies are necessary for OTS to fulfill its obligation to distribute copies to other regulatory agencies such as the Department of Justice, State regulatory agencies, and the Federal Reserve Board.

There are no recordkeeping requirements imposed by this information collection.

8. Consultation with Persons Outside the OTS

Notice of intent to revise this information collection was published in the Federal Register, Vol. 72, page 67785, on November 30, 2007. OTS has not received any public comments.

Summary of Comments received:

The Federal financial regulatory agencies received one comment from a trade association on the Interagency Charter and Federal Deposit Insurance Application. This commenter generally supported the proposed changes, indicating that the application's design allows for supplemental information if needed. The agencies believe that no additional changes are necessary based on the comment.

9. Payment of Respondents

OTS provides no payment or gift to respondents.

10. Confidentiality

Certain information is not available to the public including, among other things: 1) information exempt from disclosure by statute or executive order; 2) information contained or related to examination, operating, or condition reports prepared for agency use; and 3) privileged information related to the business or financial affairs of any person which is furnished in confidence.

11. Information of a Sensitive Nature

There are no questions of a sensitive nature.

12. Estimate of Annual Hour Burden

The total annual hour burden to the respondents is estimated at 5,625 representing 45 submissions at 125 hours. The total annual cost to the respondents for preparation of the submissions is estimated at $1,113,750 representing total annual submission of 45. The filing fees and publication costs raise the total cost associated with the submissions to $1,124,350 as shown below.

Number of Standard Hourly Burden Annual

Description Respondents X Rate X Hours* = Cost = Total

Professional 45 $40 112.5 $ 202,500

Support (publication 45 $ 20 12.5 $ 11,250

Filing Fees 45 $20,000 $ 900,000 $ 1,113,750

Support 5 20 1 $ 100

Filing Fees

$2,100

x 5 $ 10,500 $ 10,600

Total $1,124,350

* OTS estimates that a respondent’s burden hours are split between professional and support services at a ratio of 90% and 10%, respectively.

13. Estimate of Annual Cost

There are no startup costs associated with this information collection.

14. Estimate of Annualized Cost to Government

The cost to review these applications is partially offset by the filing fee.

15. Reason for Change in Burden

OTS is citing an increase in burden of 3,125 hours due to an increase in the number of respondents.

16. Publication

Not applicable.

17. Expiration Date

Not applicable.

18. Exceptions

There are no exceptions to the certification on OMB Form 83-I.

B. COLLECTION OF INFORMATION EMPLOYING STATISTICAL METHODS

Not applicable.