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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRTT_201903_83c.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2019-08-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
220524	Section 246.5(b)		Modified

ICR Details

OMB Control No: 7100-0369	ICR Reference No: 201908-7100-002
Status: Historical Active	Previous ICR Reference No: 201603-7100-005
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: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/06/2019
	Date Received in OIRA: 08/06/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2019	10/31/2019	10/31/2019
Responses	3	0	7
Time Burden (Hours)	120	0	280
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

table that charts list of burden

IC Title	Form No.	Form Name
Section 246.5(b)

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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	3	7	0	0	-4	0
Annual Time Burden (Hours)	120	280	0	0	-160	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: The decrease in burden reflects an update to the respondent count.

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Annual Cost to Federal Government: $0

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: 08/06/2019

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