Transaction Account Guarantee Program Extension

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SPST_TAG Extension_NPR_June_30_2009.doc	Supporting Statement A	Uploaded 2009-07-01	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
189784	Disclosure to customers of TAG program guarantee extension		New
189783	Opt out of TAG program/Disclosure to customers of discontinuation of TAG program guarantee		New

ICR Details

OMB Control No: 3064-0170	ICR Reference No: 200907-3064-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Transaction Account Guarantee Program Extension
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: Preapproved	Conclusion Date: 09/11/2009
	Date Received in OIRA: 07/01/2009
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2012	36 Months From Approved
Responses	7,109	0	0
Time Burden (Hours)	7,109	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This notice of proposed rulemaking requests comment on a possible six-month extension of the Transaction Account Guarantee component of the Temporary Liquidity Program (TLGP)(12 CFR Part 370). If adopted as a final rule, there would be a one-time opt-out for those currently participating institutions electing not to participate in the extension. Institutions opting out would need to provide customer disclosures that excess funds in transaction accounts would no longer be guaranteed under the TAG program after December 31, 2009. In addition, existing disclosures containing a termination date of December 31, 2009, for the transaction account guarantee may need to be updated for institutions participating in the program extension to reflect the new termination date of June 30, 2010.

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Authorizing Statute(s): 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
   US Code: 12 USC 1823(c)(4)(G) 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-AD37	Proposed rulemaking	74 FR 31217	06/30/2009

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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: 2

table that charts list of burden

IC Title	Form No.	Form Name
Disclosure to customers of TAG program guarantee extension
Opt out of TAG program/Disclosure to customers of discontinuation of TAG program guarantee

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ICR Summary of Burden

table that charts list 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	7,109	0	0	7,109	0	0
Annual Time Burden (Hours)	7,109	0	0	7,109	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: This is a new information collection arising from a notice of proposed rulemaking regarding a possible six-month extension of the Transaction Account Guarantee component of the Temporary Liquidity Program (TLGP)(12 CFR Part 370). If adopted as a final rule, there would be a one-time opt-out for those currently participating institutions electing not to participate in the extension. Institutions opting out would need to provide customer disclosures that excess funds in transaction accounts would no longer be guaranteed under the TAG program after December 31, 2009. In addition, existing disclosures containing a termination date of December 31, 2009, for the transaction account guarantee may need to be updated for institutions participating in the program extension to reflect the new termination date of June 30, 2010.

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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: 07/01/2009

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