Recordkeeping Requirements for Qualified Financial Contracts

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
NPR - Part 371 OMB Supporting Statement (3064-0163) - 12-28-16.doc	Supporting Statement A	Uploaded 2016-12-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
224917	Limited Scope Entities: Recordkeeping related to QFCs to which they are a party when they are in troubled condition		New
224916	Full Scope Entities: Recordkeeping related to QFCs to which they are a party when they are in troubled condition		New
187517	Application for Extension of Time		Unchanged
185692	Recordkeeping requirements (Appendix A, Part B)		Unchanged
185690	Reporting Requirements (Appendix A, Tables A and B)		Unchanged

ICR Details

OMB Control No: 3064-0163	ICR Reference No: 201612-3064-002
Status: Historical Inactive	Previous ICR Reference No: 201504-3064-005
Agency/Subagency: FDIC	Agency Tracking No: 3064-0163
Title: Recordkeeping Requirements for Qualified Financial Contracts
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 03/17/2017
	Date Received in OIRA: 12/28/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2018	36 Months From Approved	07/31/2018
Responses	3,060	0	3,060
Time Burden (Hours)	12,170	0	12,170
Cost Burden (Dollars)	0	0	0

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Abstract: This collection consists of recordkeeping requirements for qualified financial contracts (QFCs) held by insured depository institutions in troubled condition.

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Authorizing Statute(s): US Code: 11 USC 555, 556, 560, and 561 Name of Law: Bankruptcy Code
   US Code: 12 USC 1821(e) Name of Law: Federal Deposit Insurance Act
   PL: Pub.L. 111 - 203 210(c)(8)(H) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 210(c)(8)(H) 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:
3064-AE54	Proposed rulemaking	81 FR 95496	12/28/2016

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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: 5

table that charts list of burden

IC Title	Form No.	Form Name
Limited Scope Entities: Recordkeeping related to QFCs to which they are a party when they are in troubled condition
Reporting Requirements (Appendix A, Tables A and B)
Recordkeeping requirements (Appendix A, Part B)
Application for Extension of Time
Full Scope Entities: Recordkeeping related to QFCs to which they are a party when they are in troubled condition

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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:

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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: 12/28/2016

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