Qualified Financial Contract (QFC) Recordkeeping Related to Orderly Liquidation Authority

Forms and Documents

Document Name	Status
1505-NEW_QFC_supporting_statement_201607.doc Supporting Statement A	2016-10-12

IC Document Collections

IC ID	Document Title	Status
223907	QFC Requirements--Affiliated financial companies	New
223905	QFC Requirements--Large corporate groups	New

ICR Details

OMB Control No: 1505-0256	ICR Reference No: 201610-1505-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Qualified Financial Contract (QFC) Recordkeeping Related to Orderly Liquidation Authority
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: 10/13/2016
	Date Received in OIRA: 10/12/2016
Terms of Clearance: Agency will resubmit collection with the proposed rule.

	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

---

Abstract: The information collection in this rule implements the qualified financial contract (“QFC”) recordkeeping requirements of section 210(c)(8)(H) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act” or the “Act”). The final rules require recordkeeping on the part of certain large corporate groups and their affiliated financial companies, with respect to positions, counterparties, legal documentation, and collateral.

---

Authorizing Statute(s): PL: Pub.L. 111 - 203 1 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 12 USC 5390 Name of Law: Powers and duties of the Corporation

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AC36	Proposed rulemaking	80 FR 965	01/07/2015

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
QFC Requirements--Affiliated financial companies
QFC Requirements--Large corporate groups

---

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 new regulations implement recordkeeping requirements of a section of the Dodd-Frank Act.

---

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

---

Common Form ICR:  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:

(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: 10/12/2016

---