Reporting Requirements Associated with Supervision and Regulation Assessments of Fees (Regulation TT)

Forms and Documents

Document Name	Status
RegTT_20160415_omb.pdf Supporting Statement A	2016-04-15

IC Document Collections

IC ID	Document Title	Status
220524	Section 246.5(b)	New

ICR Details

OMB Control No: 7100-0369	ICR Reference No: 201603-7100-005
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: Reg TT
Title: Reporting Requirements Associated with Supervision and Regulation Assessments of Fees (Regulation TT)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/15/2016
	Date Received in OIRA: 04/15/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2019	36 Months From Approved
Responses	7	0	0
Time Burden (Hours)	280	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: On August 23, 2013, the Federal Reserve published a final rule in the Federal Register (78 FR 52391). This final rule implements section 318 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which directs the Federal Reserve to collect assessments, fees, or other charges equal to the total expenses the Federal Reserve estimates are necessary or appropriate to carry out the supervisory and regulatory responsibilities of the Federal Reserve for bank holding companies and savings and loan holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated for Federal Reserve supervision by the Financial Stability Oversight Council. Each assessed company would have thirty calendar days from June 30 or, for the 2012 assessment period, thirty calendar days from the Board’s issuance of a notice of assessment for that assessment period, to submit a written statement to appeal the Board’s determination (1) that the company is an assessed company or (2) of the company’s total assessable assets. These reporting requirements are found in section 246.5(b) of the final rule.

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Authorizing Statute(s): US Code: 12 USC 248 Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 124 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
7100-AD95	Final or interim final rulemaking	78 FR 52391	08/23/2013

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 23162	04/18/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 52391	08/23/2013
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
Section 246.5(b)

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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	7	0	7	0	0	0
Annual Time Burden (Hours)	280	0	280	0	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: 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]? 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: 04/15/2016

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