Covered Financial Company Asset Purchaser Eligibility Certification

Forms and Documents

Document Name	Status
Form 7300/10 Covered Financial Company Asset Sales Purchaser Eligibility Certification Form and Instruction	Unchanged
FR2 Nov 85 FR 76571 Nov 30 2020.pdf Supplementary Document	2020-11-29
FR1 Nov 85 FR 59797 Sept 23 2020.pdf Supplementary Document	2020-11-29
SPST - 0194 Renewal (2020) Final.docx Supporting Statement A	2020-11-30

IC Document Collections

IC ID	Document Title	Status
209217	Covered Financial Company Asset Sales Purchaser Eligibility Certification Form and Instruction	Unchanged

ICR Details

OMB Control No: 3064-0194	ICR Reference No: 202009-3064-008
Status: Received in OIRA	Previous ICR Reference No: 201706-3064-002
Agency/Subagency: FDIC	Agency Tracking No: 3064-0194
Title: Covered Financial Company Asset Purchaser Eligibility Certification
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/30/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	10	10
Time Burden (Hours)	5	5
Cost Burden (Dollars)	0	0

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Abstract: The Covered Financial Company Asset Purchaser Eligibility implements the statutory requirement that assets held by the FDIC in the course of liquidating any covered financial company not be sold to persons who contributed in specified ways to the demise of a covered financial company. The Purchaser Eligibility Certification is required in connection with the sale of assets by the FDIC, as receiver for a Covered Financial Company (CFC), or the sale of assets by a Bridge Financial Company (BFC) which requires the approval of the FDIC, as receiver for the predecessor CFC and as the sole shareholder of the BFC.

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Authorizing Statute(s): US Code: 12 USC 5390(r) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 210(r) 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 59797	09/23/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 76571	11/30/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Covered Financial Company Asset Sales Purchaser Eligibility Certification	7300/10	Covered Financial Company Asset Sales Prospective Purchaser Eligibility Certification

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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	10	10	0	0	0	0
Annual Time Burden (Hours)	5	5	0	0	0	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.     Yes

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.     Yes

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

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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: 11/30/2020

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