Credit Risk Retention by Securitizers

Forms and Documents

Document Name	Status
Final.docx Supporting Statement A	2013-09-19

IC Document Collections

IC ID	Document Title	Status
208250	Underwriting Standards for Qualifying Automobile Loans	New
208249	Underwriting Standards for Qualifying CRE Loans	New
208248	Underwriting Standards for Qualifying Commercial Loans	New
208247	Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans	New
208246	Exemption for Qualified Residential Mortgages	New
208245	Allocation of Risk Retention to an Originator	New
208244	Qualified Tender Option Bonds	New
208242	Open Market CLOs	New
196604	FNMA amd FHLMC	Modified
196479	Commercial MBS	Modified
196478	Eligible ABCP Conduits	Modified
196477	Revolving Master Trusts	Modified
196443	Standard Risk Retention - Payment Date Disclosures	Modified
196439	Standard Risk Retention - Recordkeeping and General Disclosures	Modified

ICR Details

OMB Control No: 1557-0249	ICR Reference No: 201308-1557-001
Status: Historical Inactive	Previous ICR Reference No: 201101-1557-002
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Credit Risk Retention by Securitizers
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 01/28/2014
	Date Received in OIRA: 09/23/2013
Terms of Clearance: COMMENT: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The OCC, FRB, FDIC, SEC, FHFA, and HUD have issued a second proposed rule to implement the credit risk retention requirements of section 15G of the Securities Exchange Act, as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the rule, the securitizer of asset-backed securities must retain a minimum of 5% of the credit risk of the assets collateralizing the asset-backed securities. The rule includes a number of recordkeeping and disclosure requirements.

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Authorizing Statute(s): Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code: 15 USC 78o-11 Name of Law: The Securities Exchange Act of 1934

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD40	Proposed rulemaking	78 FR 57928	09/20/2013

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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: 14

IC Title	Form No.	Form Name
Qualified Tender Option Bonds
Allocation of Risk Retention to an Originator
Exemption for Qualified Residential Mortgages
Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans
Underwriting Standards for Qualifying Commercial Loans
Underwriting Standards for Qualifying Automobile Loans
Standard Risk Retention - Recordkeeping and General Disclosures
Standard Risk Retention - Payment Date Disclosures
Revolving Master Trusts
Commercial MBS
Eligible ABCP Conduits
FNMA amd FHLMC
Underwriting Standards for Qualifying CRE Loans
Open Market CLOs

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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: The increase in burden is due to the fact that this is a new collection.

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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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

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: 09/23/2013

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