Pursuant to 5
CFR 1320.11(c), OMB files this comment on this information
collection request (ICR). In accordance with 5 CFR 1320, OMB is
withholding approval at this time. The agency shall examine public
comment in response to the NPRM and will include in the supporting
statement of the next ICR--to be submitted to OMB at the final rule
stage--a description of how the agency has responded to any public
comments on the ICR, including comments on maximizing the practical
utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
36 Months From Approved
0
0
0
0
0
0
0
0
0
The FDIC, jointly with the OCC, FRB,
SEC, FHFA, and HUD have proposed rules to implement the credit risk
retention requirements of section 941 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act. Generally, the rules require
securitizers of asset-backed securities to retain not less than
five percent of the credit risk of the assets collateralizing the
asset-backed securities.
Statute at
Large: 124
Stat. 1376 Name of Statute: Dodd-Frank Wall Street Reform and
Consumer Protection Act
This is a new information
collection comprised of paperwork burden contained in a proposed
rule on credit risk retention mandated by section 941 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act. (Note:
The discrepancy of 2 hours between the burden shown in the ICR
Summary of Burden (59,465 hours)and the estimated burden in the
Supporting Statement (59,463)is the result of the automatic
rounding function in ROCIS for fractional numbers.)
No
No
No
Yes
No
Uncollected
Leneta Gregorie 202
898-3719
No
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.