Prepaid Assessments

OMB Control No: 3064-0173	ICR Reference No: 200910-3064-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: FDIC	Agency Tracking No:
Title: Prepaid Assessments
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Withdrawn	Conclusion Date: 11/05/2009
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/14/2009
Terms of Clearance: FDIC is withdrawing the ICR because it would like to submit the ICR as an emergency request instead.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Initially the FDIC determined that there would be no collection under this rule involving 10 or more respondents. Upon subsequent analysis, it was determined that there may be collections afterall. Therefore, the FDIC immediately published notice to seek comments. The FDIC is requesting OMB approval for two collections of information related to a proposed amendment to the FDIC’s assessment regulations that would require insured depository institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009. Any prepaid assessment not exhausted by December 30, 2014, would be returned to the institution. The notice of proposed rulemaking appears at 74 Fed. Reg. 51063 (Oct. 2, 2009). Under the proposal, an insured depository institution could apply to the FDIC for an exemption from all or part of its assessment prepayment; the application would explain why the prepayment would significantly impair the institution’s liquidity, or would otherwise create significant hardship, would contain a full explanation of the need for the exemption and include supporting documentation, such as current financial statements and cash flow projections, a description of management’s plans to correct the circumstances that caused the inability to pay the assessment, and any other relevant information, including any information the FDIC may request. In addition, when an insured depository institution enters into an agreement to transfer any portion of its prepaid assessment to another insured depository institution, it would be required to notify the FDIC’s Division of Finance of that transaction by submitting a written agreement signed by the legal representatives of both institutions, including documentation that each representative has the legal authority to bind the institution.

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Authorizing Statute(s): US Code: 12 USC 1817(b) Name of Law: Federal Deposit Insurance Act    US Code: 12 USC 1817(c) Name of Law: Federal Deposit Insurance Act

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AD49	Proposed rulemaking	74 FR 52697	10/14/2009

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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: 2

IC Title Form No. Form Name Prepaid Assessments Prepaid Assessments Transfer

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The FDIC is requesting OMB approval for two collections of information related to a proposed amendment to the FDIC’s assessment regulations that would require insured depository institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. Under the proposal, an insured depository institution could apply to the FDIC for an exemption from all or part of its assessment prepayment. the application would explain why the prepayment would significantly impair the institution’s liquidity, or would otherwise create significant hardship, would contain a full explanation of the need for the exemption and include supporting documentation, such as current financial statements and cash flow projections, a description of management’s plans to correct the circumstances that caused the inability to pay the assessment, and any other relevant information, including any information the FDIC may request. In addition, when an insured depository institution enters into an agreement to transfer any portion of its prepaid assessment to another insured depository institution, it would be required to notify the FDIC’s Division of Finance of that transaction by submitting a written agreement.

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Annual Cost to Federal Government: $0

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Gary Kuiper 202 898-3877 [email protected]

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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: 10/14/2009

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