Rule 17g-7, Credit rating reports to be furnished by nationally recognized statistical rating organizations

ICR 200806-3235-019

OMB: 3235-0644

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2008-06-26
ICR Details
3235-0644 200806-3235-019
Historical Inactive
SEC 270-582
Rule 17g-7, Credit rating reports to be furnished by nationally recognized statistical rating organizations
New collection (Request for a new OMB Control Number)   No
Regular
Preapproved 08/30/2008
Retrieve Notice of Action (NOA) 06/30/2008
  Inventory as of this Action Requested Previously Approved
08/31/2011 36 Months From Approved
1,280,010 0 0
1,280,010 0 0
0 0 0

Under proposed Rule 17g-7, each time an NRSRO published a credit rating for a structured finance product it also would be required to publish a report describing how the credit ratings procedures and methodologies and credit risk characteristics for structured finance products differ from those of other types of rated instruments such as corporate and municipal debt securities. As an alternative to publishing the report, proposed Rule 17g-7 would allow an NRSRO to use ratings symbols for structured finance products that differentiated them from the credit ratings for other types of debt securities.

US Code: 15 USC 78o-7 Name of Law: Credit Rating Agency Reform Act of 2006
  
None

3235-AK14 Proposed rulemaking 73 FR 36212 06/25/2008

No

1
IC Title Form No. Form Name
Rule 17g-7 Credit rating reports to be furnished by nationally recognized statistical rating organizations

  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 1,280,010 0 0 1,280,010 0 0
Annual Time Burden (Hours) 1,280,010 0 0 1,280,010 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
No
Proposed amendments to rule would create new collection of information.

No
No
Uncollected
Uncollected
Uncollected
Uncollected
Sheila Swartz 202 551-5545

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
06/30/2008


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