Prepaid Assessments

OMB Control No: 3064-0173	ICR Reference No: 200911-3064-002
Status: Historical Active	Previous ICR Reference No: 200910-3064-001
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: Emergency	Approval Requested By: 11/10/2009
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/10/2009
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/09/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2010	6 Months From Approved
Responses	295	0	0
Time Burden (Hours)	1,910	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FDIC is requesting OMB approval for three 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). The FDIC would determine which of its insured depository institutions should be exempt from prepaying its assessments for the next three years. In addition, an insured depository institution could apply to the FDIC for an exemption from 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 and any information the FDIC may request. Also, an institution that is exempted by the FDIC may request that the exemption be withdrawn. 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 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. The FDIC, in its supplemental initial Paperwork Reduction Act notice (74 F.R. 52697 (Oct. 14, 2009)), requested comment on the estimated paperwork burden, both as to exemption requests and assessment transfer notices. No comments were received. The FDIC plans to follow this emergency request with a request through normal clearance procedures and, in that process, will fully consider comments on minimizing burden.

Emergency Justfication: The Prepaid Assessments Final Rule is expected to be approved by the FDIC Board of Directors on November 12, 2009. Requests for exemption or requests for withdrawal of exemption are due by December 1, 2009, and the FDIC expects to notify applicants of its decisions as to exemption or withdrawal of exemption by December 15, 2009. The prepaid assessments are due December 30, 2009. Therefore, it is imperative that this Rule be implemented immediately upon publication. We apologize for the time constraints; however, the FDIC has determined that this request is dictated by the exigencies of the current situation. In compliance with the requirements of 5 C.F.R. 1320.13, the FDIC has further determined (1) that the collection of information contained in the Prepaid Assessments Final Rule, regarding exemptions, is needed prior to the end of the time periods established in 5 C.F.R. Part 1320; (2) that replenishing the liquid assets in the DIF is essential to the FDIC’s mission to maintain the stability of and public confidence in the nation’s financial system; and (3) that the use of normal clearance procedures would disrupt the collection of information. The collection also includes a provision regarding notices of assessment transfers.

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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	Final or interim final 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: 3

IC Title Form No. Form Name Prepaid Assessments Exemption Request Prepaid Assessments Transfer Prepaid Assessments - Request for Withdrawal of Exemption

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ICR Summary 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	295	0	0	295	0	0
Annual Time Burden (Hours)	1,910	0	0	1,910	0	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: These are three new collections, Prepaid Assessment Exemption Request, Prepaid Assessments - Request Not To Be Exempt, and Prepaid Assessment Transfer.

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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: 11/09/2009

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