TARP CAPITAL PURCHASE PROGRAM – Executive Compensation

Forms and Documents

Document	Type	Status	Availability

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Collection	Type	Status	Form
187664	TARP CAPITAL PURCHASE PROGRAM – Executive Compensation		New

ICR Details

OMB Control No: 1505-0211	ICR Reference No: 200812-1505-004
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No: TARP
Title: TARP CAPITAL PURCHASE PROGRAM – Executive Compensation
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: 12/30/2008
OIRA Conclusion Action: Preapproved	Conclusion Date: 01/16/2009
	Date Received in OIRA: 12/23/2008
Terms of Clearance: When new versions of the information collections (ICs) are developed, Treasury shall submit a non-substantive change request to ensure that they are covered by OMB's approval.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2009	6 Months From Approved
Responses	500	0	0
Time Burden (Hours)	1,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The interim rule sets forth additional executive compensation requirements under EESA. In October 2008, Treasury issued an interim rule that required financial institutions from which the Treasury is purchasing troubled assets through direct purchases to meet appropriate standards for executive compensation and corporate governance. The information collections included in this interim final rule provides reporting and recordkeeping requirements for executive compensation. The information will be used to monitor compliance with the executive compensation requirements of EESA and implementing regulations.

Emergency Justfication: The Department of the Treasury (Treasury) respectfully requests emergency processing and approval of the collection of information contained in the interim rule to amend executive compensation requirements for participants in the Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP). The collection of information is needed to fulfill Treasury’s responsibilities under the Emergency Economic Stabilization Act (EESA) of 2008 (Public Law 110-343; approved October 3, 2008). Treasury cannot reasonably comply with the normal clearance procedures under 5 C.F.R. Part 1320 because of the current turmoil in the financial markets.

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Authorizing Statute(s): PL: Pub.L. 110 - 343 101(a)(1), 101(c)(5), 111(b) Name of Law: Emergency Economic Stabilization Act (EESA) of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 343 101(a)(1), 101(c)(5), 111(b) Name of Law: Emergency Economic Stabilization Act (EESA) of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AC09	Final or interim final 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: 1

IC Title	Form No.	Form Name
TARP CAPITAL PURCHASE PROGRAM – Executive Compensation

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ICR Summary of Burden

	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	500	0	500	0	0	0
Annual Time Burden (Hours)	1,000	0	1,000	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: This is a new collection.

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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: 12/23/2008

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