Prepaid Assessments

Forms and Documents

Document Name	Status
FR2-0079,0103,0122,0173 2010-13136.pdf Supplementary Document	2010-06-17
SPST Prepaid Assessments Final 5-26-10.doc Supporting Statement A	2010-05-26

IC Document Collections

IC ID	Document Title	Status
191237	Prepaid Assessments - Request for Withdrawal of Exemption	Removed
190949	Prepaid Assessments Transfer	Modified
190946	Prepaid Assessments Exemption Request	Removed

ICR Details

OMB Control No: 3064-0173	ICR Reference No: 201003-3064-006
Status: Historical Active	Previous ICR Reference No: 200911-3064-002
Agency/Subagency: FDIC	Agency Tracking No: 3064-0173
Title: Prepaid Assessments
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/02/2010
	Date Received in OIRA: 06/17/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2013	36 Months From Approved	09/30/2010
Responses	15	0	295
Time Burden (Hours)	30	0	1,910
Cost Burden (Dollars)	0	0	0

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Abstract: The FDIC is requesting OMB approval for renewal of one of three collections of information related to a amendment to the FDIC’s assessment regulations that required 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 began to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. Any prepaid assessment not exhausted by June 13, 2013, would be returned to the institution. The FDIC determined which of its insured depository institutions should be exempt from prepaying its assessments for the next three years. In addition, an insured depository institution could apply to the FDIC for an exemption from its assessment prepayment Also, an institution that is exempted by the FDIC may request that the exemption be withdrawn. 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 is required to notify the FDIC 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.

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Authorizing Statute(s): 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
  

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
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 12541	03/16/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 30403	06/01/2010
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
Prepaid Assessments Transfer
Prepaid Assessments Exemption Request
Prepaid Assessments - Request for Withdrawal of Exemption

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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	15	295	0	-280	0	0
Annual Time Burden (Hours)	30	1,910	0	-1,880	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The FDIC is requesting OMB approval for renewal of one of three collections of information related to a amendment to the FDIC’s assessment regulations that required insured depository institutions to prepay three years of deposit insurance premiums. The period for applying for an exemption, or applying for removal from exemption status, has expired. The third information collection, involving transfers of prepaid assessments, is still active, but the burden has been reduced to 30 hours.

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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]? No

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: 06/17/2010

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