TARP Capital Purchase Program – Executive Compensation

Forms and Documents

Document Name	Status
1505-0219_SS_InterimFR.docx Supporting Statement A	2010-03-16

IC Document Collections

IC ID	Document Title	Status
189545	Special Master on Executive Compensation Advisory Opinion Request	Modified
189544	Bonus, Retention Awards, and Other Compensation Submission	Unchanged
189543	Primary Executive and Financial Officers, Annual Certification	Unchanged
189542	Engagement of Compensation Consultant Narrative Description	Unchanged
189541	Senior Executive Officers and Highly Compensated Employees Disclosure	Unchanged
189540	Special Master on Executive Compensation Submission	Unchanged
189539	Compensation Committee Risk Certification	Unchanged

ICR Details

OMB Control No: 1505-0219	ICR Reference No: 201003-1505-004
Status: Historical Active	Previous ICR Reference No: 200905-1505-001
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: 03/19/2010
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/17/2010
	Date Received in OIRA: 03/16/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2010	6 Months From Approved
Responses	2,957	0	0
Time Burden (Hours)	8,600	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), as amended by the American Recovery and Reinvestment Act (ARRA) of 2009, the Department of the Treasury (Treasury) is implementing several aspects of the Troubled Asset Relief Program (TARP). 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 interim rule sets forth additional executive compensation requirements under EESA as required by the amendments to EESA under ARRA. The information collections included in this interim final rule provides reporting and recordkeeping requirements for executive compensation.

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). 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), as amended by the American Recovery and Reinvestment Act (ARRA) of 2009 (Public Law 111-5 enacted February 17, 2009). OMB granted a pre-approval based on anticipated final rule action by Treasury. The pre-approval period has now lapsed and to provide full compliance under the PRA, Treasury is initiating this new request.

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Authorizing Statute(s): PL: Pub.L. 111 - 5 1 Name of Law: American Recovery and Reinvestment Act of 2009
   PL: Pub.L. 110 - 343 1 Name of Law: Emergency Economic Stabilization Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 343 1 Name of Law: Emergency Economic Stabilization Act of 2008
PL: Pub.L. 111 - 5 1 Name of Law: American Recovery and Reinvestment Act of 2009

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AC09	Final or interim final rulemaking	74 FR 28394	06/15/2009

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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: 7

IC Title	Form No.	Form Name
Primary Executive and Financial Officers, Annual Certification
Engagement of Compensation Consultant Narrative Description
Bonus, Retention Awards, and Other Compensation Submission
Special Master on Executive Compensation Advisory Opinion Request
Compensation Committee Risk Certification
Special Master on Executive Compensation Submission
Senior Executive Officers and Highly Compensated Employees Disclosure

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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	2,957	0	2,957	0	0	0
Annual Time Burden (Hours)	8,600	0	8,600	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 request for an emergency clearance on a new information collection. The addition of 8,500 hours is due to new statue requirement.

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Annual Cost to Federal Government: $0

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)? Yes

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: 03/16/2010

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