FDIC is withdrawing the ICR because it would like to submit the ICR as an emergency request instead.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
36 Months From Approved
0
0
0
0
0
0
0
0
0
Initially the FDIC determined that there would be no collection under this rule involving 10 or more respondents. Upon subsequent analysis, it was determined that there may be collections afterall. Therefore, the FDIC immediately published notice to seek comments. The FDIC is requesting OMB approval for two collections of information related to a proposed amendment to the FDICÂs assessment regulations that would require insured depository institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. Any prepaid assessment not exhausted by December 30, 2014, would be returned to the institution. The notice of proposed rulemaking appears at 74 Fed. Reg. 51063 (Oct. 2, 2009).
Under the proposal, an insured depository institution could apply to the FDIC for an exemption from all or part of its assessment prepayment; the application would explain why the prepayment would significantly impair the institutionÂs liquidity, or would otherwise create significant hardship, would contain a full explanation of the need for the exemption and include supporting documentation, such as current financial statements and cash flow projections, a description of managementÂs plans to correct the circumstances that caused the inability to pay the assessment, and any other relevant information, including any information the FDIC may request.
In addition, when an insured depository institution enters into an agreement to transfer any portion of its prepaid assessment to another insured depository institution, it would be required to notify the FDICÂs Division of Finance of that transaction by submitting a written agreement signed by the legal representatives of both institutions, including documentation that each representative has the legal authority to bind the institution.
US Code:
12 USC 1817(b)
Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 1817(c)
Name of Law: Federal Deposit Insurance Act
The FDIC is requesting OMB approval for two collections of information related to a proposed amendment to the FDICÂs assessment regulations that would require insured depository institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012.
Under the proposal, an insured depository institution could apply to the FDIC for an exemption from all or part of its assessment prepayment. the application would explain why the prepayment would significantly impair the institutionÂs liquidity, or would otherwise create significant hardship, would contain a full explanation of the need for the exemption and include supporting documentation, such as current financial statements and cash flow projections, a description of managementÂs plans to correct the circumstances that caused the inability to pay the assessment, and any other relevant information, including any information the FDIC may request.
In addition, when an insured depository institution enters into an agreement to transfer any portion of its prepaid assessment to another insured depository institution, it would be required to notify the FDICÂs Division of Finance of that transaction by submitting a written agreement.
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:
(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;
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.
Supporting Statement Prepaid Assessments 10-14-09 FINAL.doc
Prepaid Assessments Transfer