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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SPST-0184 Volcker NPR Revisions Feb 2020.docx	Supporting Statement A	Uploaded 2020-02-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
240145	Section 351.10 (c)(18)(ii)B)(1) - Ongoing		New
240142	Section 351.10(c)(18)(ii)(B)(1) - Initial Setup		New
239028	351.20(d) ($20 billion or more) Ongoing		Unchanged
239027	351.20(c) Ongoing		Unchanged
239026	351.5(c) Ongoing		Unchanged
239025	351.4(c)(3)(i) Ongoing		Modified
239024	351.20(i) Ongoing		Unchanged
239023	351,20(d) ($20 billion or more) Ongoing		Unchanged
239022	351.4(c)(3)(i) Ongoing		Modified
239021	351.20(d) ($20 billion or more) Initial Seup		Unchanged
239020	351.20(c) Initial Setup		Unchanged
239019	351.5(c) Initial Setup		Unchanged
239018	351.4(c)(3)(i) Initial Setup		Modified
239017	351.20(i) Initial Setup		Unchanged
239016	351.20(d) ($20 billion or more) Initial Setup		Unchanged
239015	Section 351.4(c)(3)(i) Initial Setup		Modified
209745	351.20(f)(2) - Ongoing		Unchanged
209744	351.20(f)(2) - Initial Setup		Unchanged
209742	351.20(f)(1) - Ongoing		Modified
209740	351.20(f)(1) - Initial Setup		Unchanged
209739	351.20(e) - Ongoing		Unchanged
209738	351.20(e) - Initial Setup		Unchanged
209737	351.4(b)(3)(i)(A) - Ongoing		Modified
209736	351.4(b)(3)(i)(A) - Initial Setup		Unchanged
209735	351.3(d)(3) - Ongoing		Modified
209734	351.3(d)(3) - Initial Setup		Modified
199700	351.11(a)(8)(i) - Ongoing		Modified
199698	351.11(a)(8)(i) - Initial Setup		Modified
199695	351.20(b) - Ongoing		Unchanged
199694	351.20(b) - Initial Setup		Unchanged
199691	351.11(a)(2) - Ongoing		Modified
199690	351.11(a)(2) - Initial Setup		Unchanged

ICR Details

OMB Control No: 3064-0184	ICR Reference No: 202007-3064-003
Status: Active	Previous ICR Reference No: 201811-3064-002
Agency/Subagency: FDIC	Agency Tracking No: NPR Feb 2020
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: Approved without change	Conclusion Date: 07/31/2020
	Date Received in OIRA: 07/31/2020
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection must be re-submitted to OMB for review.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	12/31/2022
Responses	967	0	1,271
Time Burden (Hours)	3,193	0	3,154
Cost Burden (Dollars)	0	0	0

---

Abstract: Section 619 of the Dodd-Frank Act added a new section 13 to the Bank Holding Company (“BHC”) Act (codified at 12 U.S.C. § 1851) that, subject to certain exemptions, generally prohibits any banking entity from engaging in proprietary trading or from investing in, sponsoring, or having certain relationships with a hedge fund or private equity fund (“covered fund”) (the “Volcker Rule”). The BHC Act also provides for certain nonbank financial companies that engage in such activities or have such investments or relationships to be subject to additional capital requirements, quantitative limits, or other restrictions. The agencies are revising to the Volcker Rule to provide banking entities with a greater certainty about what activities are prohibited and to improve supervision and implementation of section 13 of the BHC Act, while reducing the overall complexity and burden associated with the prior rule.

---

Authorizing Statute(s): PL: Pub.L. 115 - 174 203 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act
   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

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AF17	Final or interim final rulemaking	85 FR 46422	07/31/2020

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 32

table that charts list of burden

IC Title	Form No.	Form Name
351.20(e) - Initial Setup
351.20(e) - Ongoing
351.20(f)(1) - Initial Setup
351.20(f)(1) - Ongoing
351.20(f)(2) - Initial Setup
351.4(b)(3)(i)(A) - Initial Setup
351.3(d)(3) - Ongoing
351.3(d)(3) - Initial Setup
351.4(b)(3)(i)(A) - Ongoing
351.20(f)(2) - Ongoing
351.11(a)(2) - Initial Setup
351.11(a)(8)(i) - Ongoing
351.11(a)(2) - Ongoing
351.20(b) - Initial Setup
351.11(a)(8)(i) - Initial Setup
351.20(b) - Ongoing
351.20(d) ($20 billion or more) Initial Setup
351.4(c)(3)(i) Initial Setup
351.20(i) Ongoing
351.4(c)(3)(i) Ongoing
Section 351.4(c)(3)(i) Initial Setup
351.20(i) Initial Setup
351.5(c) Initial Setup
351.20(c) Initial Setup
351.20(d) ($20 billion or more) Initial Seup
351.4(c)(3)(i) Ongoing
351,20(d) ($20 billion or more) Ongoing
351.5(c) Ongoing
351.20(c) Ongoing
351.20(d) ($20 billion or more) Ongoing
Section 351.10(c)(18)(ii)(B)(1) - Initial Setup
Section 351.10 (c)(18)(ii)B)(1) - Ongoing

---

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	967	1,271	0	11	-315	0
Annual Time Burden (Hours)	3,193	3,154	0	110	-71	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Revisions to 12 CFR part 351 in proposed rulemaking

---

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? No

---

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: 02/28/2020

---