Large-Bank Deposit Insurance Programs

Forms and Documents

Document Name	Status
Supporting Statement CAS. 7-27-2008.doc Supporting Statement A	2008-07-27

IC Document Collections

IC ID	Document Title	Status
184975	Large-Bank Deposit Insurance Determination	Modified

ICR Details

OMB Control No: 3064-0162	ICR Reference No: 200807-3064-005
Status: Historical Active	Previous ICR Reference No: 200805-3064-001
Agency/Subagency: FDIC	Agency Tracking No:
Title: Large-Bank Deposit Insurance Programs
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/25/2008
	Date Received in OIRA: 07/27/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2011	36 Months From Approved
Responses	159	0	0
Time Burden (Hours)	248,915	0	0
Cost Burden (Dollars)	39,833,316	0	0

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Abstract: The FDIC has adopted regulations intended to modernize the process of determining the insurance status of each depositor in the event of a depository institution failure. The regulations will enable operations of a large insured depository institution to continue functioning on the day following failure, support the FDIC’s efforts to fulfill its legal mandates regarding the resolution of failed insured deposit institutions, and apply to the largest institutions only ($2 billion in domestic deposits or more). More specifically, the regulations require the largest insured depository institutions to adopt mechanisms that would, in the event of the institution’s failure, (1) provide the FDIC with standard deposit account and customer information, and (2) allow the FDIC to place and release holds on liability accounts, including deposits.

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Authorizing Statute(s): US Code: 12 USC 1821(d)(1), (10)(C), (11) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1821(e)(1), (8)(D)(i) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1823(c)(4), (e)(2) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AD26	Final or interim final rulemaking	73 FR 41180	07/17/2008

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 2364	01/14/2008
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Large-Bank Deposit Insurance Determination

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ICR Summary of Burden

	Total Approved	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	159	0	0	159	0	0
Annual Time Burden (Hours)	248,915	0	0	248,915	0	0
Annual Cost Burden (Dollars)	39,833,316	0	0	39,833,316	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This is a new record collection. The largest insured depository institutions are growing increasingly complex. The FDIC is adopting a new regulation, 12 CFR 360.9, designed to allow the deposit operations of a failed institution to be continued on the day following failure, facilitate an insurance determination, and improve upon access to depositor funds if one of these large institutions were to fail. The new record collection requires Covered Institutions to provide the FDIC with the name(s) of contacts; develop written practices and procedures for providing the FDIC with required deposit account and customer data in a standard format upon the close of any day's business; provide data to the FDIC pursuant to testing and verification procedures; and acquire and/or modify and maintain an information systems in order to respond to the information requirements.

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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]? 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)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 07/27/2008

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