Retail Foreign Exchange Transactions

ICR 201403-3064-002

OMB: 3064-0182

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2014-05-27
Supporting Statement A
2014-05-19
Supplementary Document
2014-03-19
ICR Details
3064-0182 201403-3064-002
Historical Active 201106-3064-003
FDIC
Retail Foreign Exchange Transactions
Extension without change of a currently approved collection   No
Regular
Approved without change 07/17/2014
Retrieve Notice of Action (NOA) 05/27/2014
  Inventory as of this Action Requested Previously Approved
07/31/2017 36 Months From Approved 07/31/2014
5,478 0 5,478
6,038 0 6,038
0 0 0

Section 742(c)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act amended the Commodity Exchange Act to provide that a U.S. financial institution for which there is a federal regulatory agency shall not enter into, or offer to enter into, a transaction described in section 2(c)(2)(B)(i)(I) of the CEA with a retail customer except pursuant to a rule or regulation of a Federal regulatory agency allowing the transaction under such terms and conditions as the Federal regulatory agency shall prescribe (a retail forex rule). The FDIC has adopted a retail forex rule that sets forth appropriate requirements (including certain reporting, recordkeeping and disclosure requirements) for FDIC-supervised institutions engaged in such transactions.

US Code: 7 USC 2(c)(2)(E) Name of Law: Commodity Exchange Act
   PL: Pub.L. 111 - 203 742(c)(2) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 3(q) Name of Law: Federal Deposit Insurance Act
  
None

Not associated with rulemaking

  79 FR 15122 03/18/2014
79 FR 30140 05/27/2014
No

  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 5,478 5,478 0 0 0 0
Annual Time Burden (Hours) 6,038 6,038 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

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.
05/27/2014


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