Qualified Financial Contracts

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FR2-0163 Qualified Financial Contracts 86 FR 22431 April 28 2021.pdf	Supplementary Document	Uploaded 2021-04-28	Repair queued
SPST 0163 Qualified Financial Contracts 2021.docx	Supporting Statement A	Uploaded 2021-04-27	Repair queued
FR1 0163 Qualified Financial Contracts 86 FR 9935 February 17 2021.pdf	Supplementary Document	Uploaded 2021-04-19	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
227750	Limited Scope Entities (Ongoing)		Modified
227749	Full Scope Entities (Ongoing)		Modified
187517	Application for Extension of Time		Modified
185692	Limited Scope Entities (Implementation)		Modified
185690	Full Scope Entities (Implementation)		Modified

ICR Details

OMB Control No: 3064-0163	ICR Reference No: 202102-3064-015
Status: Received in OIRA	Previous ICR Reference No: 201707-3064-007
Agency/Subagency: FDIC	Agency Tracking No:
Title: Qualified Financial Contracts
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/28/2021

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	04/30/2021
Responses	230	3,172
Time Burden (Hours)	10,250	18,720
Cost Burden (Dollars)	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: 12 USC 1821(e) Name of Law: Federal Deposit Insurance Act
   US Code: 11 USC 555, 556, 560, and 561 Name of Law: Bankruptcy Code
  

Citations for New Statutory Requirements: None

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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:
	86 FR 9935	02/17/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 22431	04/28/2021
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
Application for Extension of Time
Full Scope Entities (Implementation)
Full Scope Entities (Ongoing)
Limited Scope Entities (Implementation)
Limited Scope Entities (Ongoing)

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ICR Summary of Burden

table that charts list 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	230	3,172	0	0	-2,942	0
Annual Time Burden (Hours)	10,250	18,720	0	0	-8,470	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]? No

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: 04/28/2021

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