Qualifications for Failed Bank Acquisitions

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SOP Qualifications for Failed Bank Acquisitions FINAL.doc	Supplementary Document	Uploaded 2009-08-26	Available
Emergency Clearance Request Policy Statement.pdf	Supplementary Document	Uploaded 2009-08-26	Available
SPST - Policy on Failed Bank Acquisitions (Final 8-26).doc	Supporting Statement A	Uploaded 2009-08-26	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
190449	Section I - disclosures regarding investors and entities in ownership chain	Other-Policy Statement	New
190448	Section E - maintenance of business books and records	Other-Policy Statement	New
190447	Section D - investor reports on affilliates	Other-Policy Statement	New

ICR Details

OMB Control No: 3064-0169	ICR Reference No: 200908-3064-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Qualifications for Failed Bank Acquisitions
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: 08/28/2009
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/27/2009
	Date Received in OIRA: 08/26/2009
Terms of Clearance: While there is no FR citation, the information collection is associated with a rulemaking. At the time of the request submission, the FR citation was not available. The agency will update the information collection with the FR citation once this becomes available.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2010	6 Months From Approved
Responses	340	0	0
Time Burden (Hours)	840	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FDIC's Statement of Policy on Qualifications for Failed Bank Acquisitions provides guidance to private capital investors interested in acquiring or investing in failed insured depository institutions regarding the terms and conditions for such investments or acquisitions.

Emergency Justfication: A significant rise in the number of bank failures and a decrease in the number of interested and suitable insured depository institutions acquirors has created the need for additional capital in the banking system and a recognition that private equity capital from appropriate sources could serve to meet this need. However, injection of private equity capital into the banking system requires that the FDIC has access to sufficient information to ensure that the interests of private investors, their affiliates, and other related parties are consistent with basic concepts contained in established banking laws and regulations related to the ownership of insured depository institutions.

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Authorizing Statute(s): US Code: 12 USC 1816-1818, 1823 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: 3

table that charts list of burden

IC Title	Form No.	Form Name
Section I - disclosures regarding investors and entities in ownership chain
Section E - maintenance of business books and records
Section D - investor reports on affilliates

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ICR Summary of Burden

table that charts list 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	340	0	0	340	0	0
Annual Time Burden (Hours)	840	0	0	840	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: Miscellaneous Actions

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 reporting and recordkeeping requirements in a newly issued Statement of Policy.

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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: 08/26/2009

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