Interagency Statement on Sound Practices Concerning Complex Structured Finance Transactions
Extension without change of a currently approved collection
No
Regular
11/30/2020
Requested
Previously Approved
36 Months From Approved
01/31/2021
1
4
25
100
0
0
The Interagency Statement on Sound Practices Concerning Complex Structured Finance Transactions describes the types of internal controls and risk management procedures that the Agencies believe are particularly effective in assisting financial institutions to identify, evaluate, assess, document, and control the full range of credit, market, operational, legal and reputational risks. A financial institution that engages in complex structured finance transactions should maintain a set of formal, written, firm-wide policies and procedures that are designed to allow the institution to identify and assess these risks.
US Code:
12 USC 1819
Name of Law: Federal Deposit Insurance Act
US Code:
12 USC 1831p-1
Name of Law: Federal Deposit Insurance Act
US Code: 12 USC 5301 et seq. Name of Law: Dodd-Frank Wall Street Reform And Consumer Protection Act
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.
FR2 Nov 85 FR 76571 Nov 30 2020.pdf
Complex Structured Finance Transactions