Legacy Systems Public-Private Investment Fund Application

Forms and Documents

Document Name	Status
PPIF securities Application Supporting Statement 1.doc Supporting Statement A	2009-03-24

IC Document Collections

IC ID	Document Title	Status
188511	Legacy Securities Public Private Investment Fund Application Instruction	New

ICR Details

OMB Control No: 1505-0215	ICR Reference No: 200903-1505-006
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No: TARP
Title: Legacy Systems Public-Private Investment Fund Application
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: 03/24/2009
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/26/2009
	Date Received in OIRA: 03/24/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2009	6 Months From Approved
Responses	60	0	0
Time Burden (Hours)	1,200	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Authorized under the Emergency Economic Stabilization Act (EESA) of 2008 (Public Law 110-343), the Department of the Treasury is implementing several aspects of the Troubled Asset Relief Program. The statute provides the Secretary broad authority to purchase and insure mortgage assets, and to purchase any other financial instrument that the Secretary, in consultation with the Federal Reserve Chairman, determines necessary to stabilize our financial markets. The TARP includes several components including a voluntary Legacy Securities Public Private Investment Fund (PPIF). Under this plan the Treasury will contribute equity funding equal to or less than the private capital raised by private investors. In addition Treasury will consider requests for loans from Treasury in amounts of up to 100% of the total equity capital (Treasury plus private) of a Legacy Security PPIF. The Treasury is seeking applicant information for financial institutions that seek participation in the Legacy Securities PPIF.

Emergency Justfication: The Department of Treasury requests emergency approval for this collection activity. 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 uproar in the financial markets and the immediate need for this application.

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Authorizing Statute(s): PL: Pub.L. 110 - 343 101 Name of Law: Emergency Economic Stabilization Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 343 101 Name of Law: Emergency Economic Stabilization Act of 2008

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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: 1

IC Title	Form No.	Form Name
Legacy Securities Public Private Investment Fund Application

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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	60	0	60	0	0	0
Annual Time Burden (Hours)	1,200	0	1,200	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)? No

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: 03/24/2009

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