Credit Risk Retention

OMB Control No: 3064-0183	ICR Reference No: 202109-3064-003
Status: Received in OIRA	Previous ICR Reference No: 201804-3064-012
Agency/Subagency: FDIC	Agency Tracking No:
Title: Credit Risk Retention
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/22/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2021
Responses	47	325
Time Burden (Hours)	376	3,451
Cost Burden (Dollars)	0	0

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Abstract: The FDIC, jointly with the OCC, FRB, SEC, FHFA, and HUD have proposed rules to implement the credit risk retention requirements of section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Generally, the rules require securitizers of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities.

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Authorizing Statute(s): Statute at Large: 124 Stat. 1376 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: Statute at Large: 124 Stat. 1376 Name of Statute: Dodd-Frank US Code: 15 USC 780-11 Name of Law: Securities Exchange Act of 1934

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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 43652	08/10/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 58269	10/21/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 25

IC Title Form No. Form Name Allocation of Risk Retention to an Originator (disclosures) Allocation of Risk Retention to an Originator (recordkeeping) Commercial MBS (disclosures) Commercial MBS (recordkeeping) Eligible ABCP Conduits (disclosures) Eligible ABCP Conduits (recordkeeping) Exemption for Qualified Residential Mortgages (disclosures) Exemption for Qualified Residential Mortgages (recordkeeping) Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Auto Loans (recordkeeping) Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans (disclosures) FNMA and FHLMC (disclosures) Open Market CLOs (disclosures) Qualified Tender Option Bonds (disclosures) Revolving Master Trusts (recordkeeping) Revolving Master Trusts(disclosures) Standard Risk Retention Combined Horizontal and Vertical Interests (disclosures) Standard Risk Retention Combined Horizontal and Vertical Interests (recordkeeping) Standard Risk Retention Horizontal Interest (disclosures) Standard Risk Retention Horizontal Interest (recordkeeping) Standard Risk Retention Vertical Interest (disclosures) Standard Risk Retention Vertical Interest (recordkeeping) Underwriting Standards for Qualifying Auto Loans (disclosures) Underwriting Standards for Qualifying Auto Loans (recordkeeping) Underwriting Standards for Qualifying CRE Loans (disclosures) Underwriting Standards for Qualifying CRE Loans (recordkeeping) Underwriting Standards for Qualifying Commercial Loans (disclosures) Underwriting Standards for Qualifying Commercial Loans (recordkeeping)

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ICR Summary 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	47	325	0	-37	-241	0
Annual Time Burden (Hours)	376	3,451	0	0	-3,075	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]? Yes

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

Is this ICR related to the Pandemic Response? No

Agency Contact: Manuel Cabeza 202 898-3781 [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: 10/22/2021

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