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Federal forms, ICRs, and supporting documents

Information Collection Request

Interagency Guidance on Sound Incentive Compensation Policies

ICR 202307-3064-004 · OMB 3064-0175 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
SPST 0175 Guidance on Sound Incentive Compensation Policies Extension 2023.docx Supporting Statement A Uploaded 2023-07-17 Missing upstream
FR2-0175 Interagency Guidance Sound Incentive Compensation Policies 88 FR 28549 May 4 2023.pdf Supplementary Document Uploaded 2023-07-12 Repair queued
FR1-0175 Incentive Compensation Policies 88 FR 13117 March 2 2023.pdf Supplementary Document Uploaded 2023-07-12 Repair queued
IC Document Collections
IC IDCollectionTypeStatusForm
240744 Annual Maintenance of Policies and Procedures (Ongoing) Other-Guidance Modified
193287 Document policies and procedures (Implementation) Other-Guidance Unchanged
ICR Details
3064-0175 202307-3064-004
Received in OIRA 202003-3064-006
FDIC MEC
Interagency Guidance on Sound Incentive Compensation Policies
Extension without change of a currently approved collection   No
Regular 07/17/2023
  Requested Previously Approved
36 Months From Approved 07/31/2023
1,986 2,165
4,010 4,368
0 0
Incentive compensation practices in the financial services industry contributed to the financial crisis that began in 2007. Bank employees too often were rewarded for increasing short-term revenue or profit without adequate regard to the risks taken to achieve those results. These practices exacerbated the risks and losses at a number of banking organizations and resulted in the misalignment of the interests of employees with the long-term safety and soundness of their organizations. The Federal banking agencies, including the FDIC, have concluded that it is appropriate and urgent that incentive compensation practices be brought under control through issuance of this guidance.
US Code: 12 USC 1831p-1 Name of Law: Federal Deposit Insurance Act
  
None
Not associated with rulemaking
  88 FR 13117 03/02/2023
88 FR 42023 05/04/2023
No
2
IC Title Form No. Form Name
Annual Maintenance of Policies and Procedures (Ongoing)
Document policies and procedures (Implementation)
  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 1,986 2,165 0 0 -179 0
Annual Time Burden (Hours) 4,010 4,368 0 0 -358 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
$0
No
    No
    No
No
No
No
No
Manuel Cabeza 202 898-3781 [email protected]
  No
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.
07/17/2023