Temporary Liquidity Guarantee Program

Forms and Documents

Document	Type	Status	Availability
SPST TLG Program (FINAL).doc	Supporting Statement A	Uploaded 2008-10-23	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
186987	370.3(b)(3) - Periodic Reports on amount of unsecured debt		New
186954	Section 370.12(b)(2)(A) - Unsecured Senior Debtholders POC		New
186952	Section 370.12(b)(1)(A) - Debtholders Receivership Claim		New
186951	Section 370.11(a)(1)(a) - Notification of Termination of Participation in TLG Program		New
186947	Section 370.6(b) - Notice of Debt Under Debt Guarantee Program		New
186946	Section 370.5(h)(4) - Written Disclosures of Participation in Transaction Account Guarantee Program		New
186945	Section 370.5(h)(2) - Written Disclosure As to Guarantee Status of Newly Issued Debt		New
186944	Sections 370.5(c) and (g) - Opt-out of Debt Guarantee Program, Transaction Account Guarantee Program, or Both		New
186943	Section 370.3(b)(2) - Amount of Senior Unsecured Debt		New

ICR Details

OMB Control No: 3064-0166	ICR Reference No: 200810-3064-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Temporary Liquidity Guarantee Program
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 10/23/2008
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/23/2008
	Date Received in OIRA: 10/23/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2009	6 Months From Approved
Responses	107,300	0	0
Time Burden (Hours)	2,199,100	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This interim final rule, a follow-up to the recent systemic risk determination by the Secretary of the Treasury (after consultation with the President), establishes a Temporary Liquidity Guarantee Program pursuant to which the FDIC will guarantee payment of certain newly-issued senior unsecured debt (Debt Guarantee Component) and certain non-interest bearing transaction accounts (Deposit Guarantee Component).

Emergency Justfication: The reporting, recordkeeping, and disclosure requirements contained in the interim rule are needed immediately to facilitate the FDIC’s administration of the Temporary Liquidity Guarantee Program and to ensure notice to the public about which entities are participating in the program. The use of normal clearance procedures is necessary because of the sudden, unanticipated systemic risks posed to the nation’s financial system by recent economic conditions and because public harm is reasonably likely to result if liquidity is not restored to financial markets.

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Authorizing Statute(s): US Code: 12 USC 1823(c)(4)(G) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1819(a) Tenth Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1821(d)(1) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Section 370.5(h)(4) - Written Disclosures of Participation in Transaction Account Guarantee Program
Sections 370.5(c) and (g) - Opt-out of Debt Guarantee Program, Transaction Account Guarantee Program, or Both
Section 370.11(a)(1)(a) - Notification of Termination of Participation in TLG Program
Section 370.12(b)(1)(A) - Debtholders Receivership Claim
Section 370.6(b) - Notice of Debt Under Debt Guarantee Program
370.3(b)(3) - Periodic Reports on amount of unsecured debt
Section 370.5(h)(2) - Written Disclosure As to Guarantee Status of Newly Issued Debt
Section 370.12(b)(2)(A) - Unsecured Senior Debtholders POC
Section 370.3(b)(2) - Amount of Senior Unsecured Debt

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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	107,300	0	0	107,300	0	0
Annual Time Burden (Hours)	2,199,100	0	0	2,199,100	0	0
Annual Cost Burden (Dollars)	0	0	0	0	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: The Temporary Liquidity Guaranty Program is part of a coordinated government response to current volatility in the national and global credit markets and is designed to strengthen confidence and encourage liquidity in the banking system. The program is comprised of a Debt Guarantee Component and a Deposit Guarantee Component. A portion of the paperwork burden associated with the TLG Program is one-time only and the remainder is temporary and will not extend beyond December 31, 2009, for deposit guarantee-related collections and June 30, 2012, for debt guarantee-related collections.

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Annual Cost to Federal Government:

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: 10/23/2008

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