OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.
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The proposed rule would require certain identified insured depository institutions (IDIs), which are subsidiaries of large and complex financial parent companies, to submit to the FDIC analysis, information, and contingent resolution plans that address and demonstrate the IDIÂs ability to be separated from its parent structure, and to be wound down in an orderly fashion. The IDIÂs plan would include a gap analysis that would identify impediments to the orderly stand-alone resolution of the IDI, and identify reasonable steps that are or will be taken to eliminate or mitigate such impediments. The contingent resolution plan, gap analysis, and mitigation efforts are intended to enable the FDIC to develop a reasonable strategy, plan or options for the orderly resolution of the institution. The proposed rule applies only to IDIs with greater than $10 billion in total assets that are owned or controlled by parent companies with more than $100 billion in total assets, a universe of some 40 institutions representing total assets of $8.3 trillion and holding approximately 47.9 percent of all deposits insured by FDIC.
The proposed rule would require certain identified insured depository institutions (IDIs), which are subsidiaries of large and complex financial parent companies, to submit to the FDIC analysis, information, and contingent resolution plans that address and demonstrate the IDIÂs ability to be separated from its parent structure, and to be wound down in an orderly fashion.
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:
(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;
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.
SPST-Separateness NPR(Clearance_Final_2010)[1].doc
Separateness NPR