Emergency Clearance Request

FDICl

Federal Deposit Insurance Corporation
550 17th Street NW, Washington, D.C. 20429-9990

Legal Division

November 24, 2008

Nicholas A. Fraser
Desk Offcer

Offce ofInformation and Regulatory Affairs
Management and Budget
Offce of
Washington, D.C. 20530
Dear Mr. Fraser:

The Federal Deposit Insurance Corporation (FDIC), in coordination with the Board of Governors
the Comptroller of
the Currency (OCC), and
of
the Federal Reserve System (FRB), the Offce of
which is submitting
Thrft Supervision (OTS) (collectively, the "agencies"), each of
the Office of
a separate request, hereby requests approval by November 26,2008, for revisions to the
information pursuant to the Office of
Management
following currently approved collections of
and Budget's (OMB) Paperwork Reduction Act (PRA) emergency processing procedures at 5
CFR § 1320.13:

Condition and Income (Call Report) (OMB Nos. 7100-0036 (for
the FRB), 3064-0052 (for the FDIC), and 1557-0081 (for the OCC)J

. Consolidated Reports of

. Thrft Financial Report (TFR) (OMB No. 1550-0023 (for the OTS)J
. Report of Assets and Liabilities of

US. Branches and Agencies of

Foreign Banks

(FFIEC 002) (OMB No. 7100-0032 (for the FRB)J
The agencies have determined that (1) the collection of

information within the scope of

this

request is needed prior to the time period established under 5 C.F.R. § 1320.10; (2) this
the agencies; and (3) the agencies cannot
information is essential to the mission of
collection of
reasonably comply with normal clearance procedures because an unanticipated event has
normal clearance procedures is reasonably likely to prevent or disrupt the
occurred and the use of
collection of information.

As described more fully in the attached Supporting Statement, on October 13,2008, in response
to the unprecedented disruption in credit markets and the resultant effects on the abilities of
insured depository institutions to fund themselves and to intermediate credit, the Secretary ofthe
Treasury (after consultation with the President) made a determination of systemic risk following
the FDIC Board, along with the wrtten
the written recommendation of
receipt of
the Federal Reserve Board, in accordance with section 13(c)(4)(G) ofthe
recommendation of
Federal Deposit Insurance Act (FDI Act). Pursuant to the systemic risk determination, the
FDIC Board established the Temporary Liquidity Guarantee (TLG) Program and approved an
interim rule on October 23, 2008, which contains information collection requirements subject to
the PRA. On November 21,2008, the FDIC Board approved a final rule to implement the TLG
Program. The TLG Program is comprised of

two components, a Debt Guarantee Program and a

Transaction Account Guarantee Program, and includes a system of fees to be paid by
participating entities for such guarantees beginning November 13, 2008.
In order for the FDIC to calculate the fees to be assessed under the Transaction Account
Guarantee Program, the FDIC needs certain information not currently collected from insured
depository institutions. The best method for obtaining this information would be through
revisions to the collections of information identified above. These revisions involve the addition
of two new items to each of these collections in which insured depository institutions that elect to
participate in the Transaction Account Guarantee Program would report the amount and number
of

non

interest-bearing transaction accounts, as defined in the final rule, of

more than $250,000.

The new items would be added to these information collections effective December 31,2008, the
first quarter-end report date following the FDIC Board's approval of
the interim and final rules
and the FDIC's initiation of assessments on entities paricipating in the TLG Program.
The Transaction Account Guarantee Program remains in effect through December 31, 2009.
Accordingly, the agencies plan to follow this emergency request with a request for approval of
these revisions that will be processed under OMB' s normal clearance procedures in accordance
with the provisions of 5 C.F.R. § 1320.10.

ø~PSincerely,

Robert E. Feldman
Executive Secretary

Attachment

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