Volcker Rule Restrictions on Proprietary Trading and Relationships with Hedge Funds and Private Equity Funds

Forms and Documents

Document Name	Status
SPST-0184 Volcker 2.0 Revisions NPR July 2018.doc Supporting Statement A	2018-07-18

IC Document Collections

IC ID	Document Title	Status
232262	351.20(c) CEO Attestation (Ongoing)	New
232261	351.20(c) CEO Attestation (Implementation)	New
232260	351.20(d) Compliance Program Recordkeeping (over $50 billion)(Ongoing)	New
232259	351.20(d) Compliance Program Recordkeeping ($10 to $50 billion)(Implementation)	New
232258	351.20(d) Compliance Program Recordkeeping (over $50 billion)(Ongoing)	New
232257	351.20(d) Compliance Program Recordkeeping (over $50 billion)(Implementation)	New
232255	351.20(d) Compliance Program ($10 tor $50 billion)(Ongoing)	New
232253	351.20(d) Compliance Program ($10 to $50 billion)(Implementation)	New
232252	351.20(d) Compliance Program (over $50 billion)(Ongoing)	New
232251	351.20(d) Compliance Program (over $50 billion)(Implementation)	New
232249	351.5(c) List of Pre-Approved Financial Instruments (Ongoing)	New
232248	351.5(c) List of Pre-Approved Financial Instruments (Implementation)	New
232247	351.3(g) Response to Determination that Transaction is for Trading Account (Ongoing)	New
232246	351.3(g) Response to Determination that Transaction is for Trading Account (Implementation)	New
232245	351.3(c) Notification of Trading Activity in Excess of $25 Million (Ongoing)	New
232243	351.3(c) Notification of Trading Activity in Excess of $25 Million (Implementation)	New
209745	351.20(f)(2) Simplified compliance program for entities with modest activities (Ongoing)	Modified
209744	351.20(f)(2) Simplified compliance program for entities with modest activities (Implementation)	Modified
209742	351.20(f)(1) Simplified compliance program for less active entities (Ongoing)	Modified
209740	351.20(f)(1) Simplified compliance program for less active entities (Implementation)	Modified
209739	351.20(e) Program for compliance additional documentation for covered funds (Ongoing)	Modified
209738	351.20(e) Program for compliance additional documentation for covered funds (Implementation)	Modified
209737	351.4(b)(3)(i)(A) Underwriting/market-making trading desk documentation (Ongoing)	Modified
209736	351.4(b)(3)(i)(A) Underwriting/market-making trading desk documentation (Implementation)	Modified
209735	351.3(d)(3) Proprietary trading liquidity management plan (Ongoing)	Modified
209734	351.3(d)(3) Proprietary trading liquidity management plan (Implementation)	Modified
199700	351.11(a)(8)(i) Covered fund disclosures (Ongoing)	Modified
199698	351.11(a)(8)(i) Covered fund disclosures (Implementation)	Modified
199695	351.20(b) Compliance program (Ongoing)	Modified
199694	351.20(b) Compliance program (Implementation)	Modified
199691	351.11(a)(2) Documentation of plan to provide advisory services via covered fund with bona fide trust (Ongoing)	Modified
199690	351.11(a)(2) Documentation of plan to provide advisory services via covered fund with bona fide trust provision (Implementation)	Modified
199689	351.12(e) Application to extend time to divest ownership interest in a covered fund (Ongoing)	Modified
199688	351.12 (e) Application to extend time to divest ownership interest in covered fund (Implemntation)	Modified

ICR Details

OMB Control No: 3064-0184	ICR Reference No: 201806-3064-001
Status: Historical Inactive	Previous ICR Reference No: 201604-3064-003
Agency/Subagency: FDIC	Agency Tracking No:
Title: Volcker Rule Restrictions on Proprietary Trading and Relationships with Hedge Funds and Private Equity Funds
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 09/06/2018
	Date Received in OIRA: 07/18/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	36 Months From Approved	07/31/2020
Responses	727	0	1,640
Time Burden (Hours)	10,635	0	14,763
Cost Burden (Dollars)	0	0	0

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Abstract: Section 619 of the Wall Street Reform and Consumer Protection Act added a new section 13 to the Bank Holding Company Act. Section 13 of the Bank Holding Company Act contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and restricts the ability of banking entities to hold certain investments in, and have certain relationships with, hedge funds and private equity funds. This information collection includes certain reporting, recordkeeping and disclosure requirements contained in the implementing rule for section 13.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 619 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 619 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-AE67	Proposed rulemaking	83 FR 33432	07/17/2018

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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: 34

IC Title	Form No.	Form Name
351.3(c) Notification of Trading Activity in Excess of $25 Million (Ongoing)
351.3(g) Response to Determination that Transaction is for Trading Account (Ongoing)
351.20(c) CEO Attestation (Implementation)
351.20(c) CEO Attestation (Ongoing)
351.5(c) List of Pre-Approved Financial Instruments (Implementation)
351.5(c) List of Pre-Approved Financial Instruments (Ongoing)
351.20(d) Compliance Program (over $50 billion)(Ongoing)
351.20(d) Compliance Program ($10 to $50 billion)(Implementation)
351.20(d) Compliance Program ($10 tor $50 billion)(Ongoing)
351.20(d) Compliance Program Recordkeeping (over $50 billion)(Implementation)
351.20(d) Compliance Program Recordkeeping (over $50 billion)(Ongoing)
351.20(d) Compliance Program Recordkeeping ($10 to $50 billion)(Implementation)
351.20(e) Program for compliance additional documentation for covered funds (Implementation)
351.20(e) Program for compliance additional documentation for covered funds (Ongoing)
351.20(f)(1) Simplified compliance program for less active entities (Implementation)
351.20(f)(1) Simplified compliance program for less active entities (Ongoing)
351.20(f)(2) Simplified compliance program for entities with modest activities (Implementation)
351.4(b)(3)(i)(A) Underwriting/market-making trading desk documentation (Implementation)
351.3(d)(3) Proprietary trading liquidity management plan (Ongoing)
351.3(d)(3) Proprietary trading liquidity management plan (Implementation)
351.4(b)(3)(i)(A) Underwriting/market-making trading desk documentation (Ongoing)
351.20(f)(2) Simplified compliance program for entities with modest activities (Ongoing)
351.12(e) Application to extend time to divest ownership interest in a covered fund (Ongoing)
351.11(a)(2) Documentation of plan to provide advisory services via covered fund with bona fide trust provision (Implementation)
351.11(a)(8)(i) Covered fund disclosures (Ongoing)
351.11(a)(2) Documentation of plan to provide advisory services via covered fund with bona fide trust (Ongoing)
351.20(b) Compliance program (Implementation)
351.11(a)(8)(i) Covered fund disclosures (Implementation)
351.12 (e) Application to extend time to divest ownership interest in covered fund (Implemntation)
351.20(b) Compliance program (Ongoing)
351.3(g) Response to Determination that Transaction is for Trading Account (Implementation)
351.20(d) Compliance Program (over $50 billion)(Implementation)
351.20(d) Compliance Program Recordkeeping (over $50 billion)(Ongoing)
351.3(c) Notification of Trading Activity in Excess of $25 Million (Implementation)

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ICR Summary of Burden

	Total Request	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	727	1,640	0	0	-913	0
Annual Time Burden (Hours)	10,635	14,763	0	0	-4,128	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:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 07/18/2018

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