Large-Bank Deposit Insurance Programs

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SPST-0162 Large Bank Deposit Insurance Programs 2011.doc	Supporting Statement A	Uploaded 2011-08-30	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
184975	Large-Bank Deposit Insurance Determination		Unchanged

ICR Details

OMB Control No: 3064-0162	ICR Reference No: 201404-3064-006
Status: Historical Active	Previous ICR Reference No: 201104-3064-010
Agency/Subagency: FDIC	Agency Tracking No:
Title: Large-Bank Deposit Insurance Programs
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 10/21/2014
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/30/2014
	Date Received in OIRA: 10/17/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2015	6 Months From Approved
Responses	159	0	0
Time Burden (Hours)	248,915	0	0
Cost Burden (Dollars)	39,833,316	0	0

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Abstract: The FDIC regulations modernized the process of determining the insurance status of each depositor in the event of a depository institution failure. The regulations enable operations of a large insured depository institution to continue functioning on the day following failure, support the FDIC's efforts to fulfill its legal mandates regarding the resolution of failed insured deposit institutions, and apply to the largest institutions only ($2 billion in domestic deposits or more). More specifically, the regulations require the largest insured depository institutions to adopt mechanisms that would, in the event of the institution's failure, (1) provide the FDIC with standard deposit account and customer information, and (2) allow the FDIC to place and release holds on liability accounts, including deposits.

Emergency Justfication: This information collection lapsed during a staffing shortage. This collection is essential because the FDIC actively supervises large insured depository institutions and requires that such institutions adopt mechanisms that, in the event of the institution’s failure: (1) provide the FDIC with standard deposit account and customer information because the FDIC is required to pay insured deposits “as soon as possible” after an institution fails [usually the next business day] ; and (2) allow the FDIC to place and release holds on liability accounts, including deposits. It is critical to the FDIC’s mission and essential for depositor confidence that there be no disruption in the collection of this information. Emergency reinstatement is necessary because this information must be made immediately available for the FDIC to fulfill its duties and mission as a deposit insurer.

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Authorizing Statute(s): US Code: 12 USC 1821(d)(1), (10)(C), (11) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1821(e)(1), (8)(D)(i) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1823(c)(4), (e)(2) 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:
	79 FR 37235	07/01/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Large-Bank Deposit Insurance Determination

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ICR Summary of Burden

table that charts list 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	159	0	0	0	0	159
Annual Time Burden (Hours)	248,915	0	0	0	0	248,915
Annual Cost Burden (Dollars)	39,833,316	0	0	0	0	39,833,316

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:

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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]? No

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: 10/17/2014

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