Supporting Statement
Application Processing Fees
Page
SUPPORTING STATEMENT FOR
APPLICATIONS PROCESSING FEES
OMB CONTROL NO. 1550-0053
A. JUSTIFICATION
1. Circumstances and Need
Pursuant to Section 9 of the Home Owners’ Loan Act, 12 U.S.C. 1467, the Director of the Office of Thrift Supervision (“OTS”) is authorized to charge assessments to recover the costs of examining savings associations and their affiliates, to charge fees to recover the costs of processing applications and other filings, and to charge fees to cover OTS’s direct and indirect expenses in regulating savings associations and their affiliates.
An institution must submit a fee with certain applications, including Securities and Exchange Act of 1934 filings, notices, and requests (hereafter collectively referred to as “applications”), before such applications will be accepted for processing by OTS. 12 C.F.R. § 502.5. The institution is required to state how it calculates the appropriate fee, in accordance with OTS's schedule. 12 C.F.R. § 502.70. The most recent fee schedule was published in Thrift Bulletin TB 48-21 dated May 28, 2004.
There are no third-party requirements.
2. Use of Information Collected
The purpose of the information collected from the institution about its calculation of the fee is to ensure that the fee covering OTS’s total direct and indirect costs for processing applications is calculated correctly.
3. Use of Technology to Reduce Burden
OTS regulations provide for acceptance of the application filing fee by wire transfer, check, money order, or cashier's check. 12 C.F.R. § 516.45. The use of automated systems by savings associations is helpful in producing the requisite number of copies required by this information collection. In this regard, the use of improved technology has been accounted for in the total burden imposed on savings associations and is neither significant nor measurable. Since automated information systems vary from institution to institution, the use of improved technology to reduce the burden is not applicable.
4. Efforts to Identify Duplication
Each application filing is unique. The respondent may combine several transactions requiring separate fees into one filing, with one calculation of the appropriate fees to cover the transactions. This information collection is not duplicative within the meaning of the PRA and OMB regulations. Information that is similar to or that corresponds to information that could serve OTS's purpose and need in this information collection is not being collected by any other means or for any other purpose; nor is this information otherwise available in the detail necessary to satisfy the purpose and need for which this collection of information is undertaken.
5. Minimizing the Burden on Small Firms
The rationale for the charge of fees is based upon the cost to the agency. Institutions or persons filing applications can apply to have fees waived if certain criteria contained in TB 48-21 are met. Each waiver of fees is considered on a case-by-case basis.
6. Consequences of Less Frequent Collection
The information is submitted only once for each application filed. It would be impossible for the information to be collected less frequently.
7. Special Circumstances
This information collection is conducted in a manner consistent with the guidelines set forth in 5 C.F.R. 1320.6.
8. Consultations with Persons Outside OTS
Notice to extend this information collection was published in the Federal Register on August 12, 2008 (73 FR 156). OTS has not received any comments.
9. Payment of Respondents
OTS provides no payment or gift to respondents.
10. Confidentiality
OTS releases all of the information collected, except materials the disclosure of which would result in an invasion of personal privacy, impair the financial stability of the reporting entities, or otherwise adversely affect any public or private interest, in conformity with Department of Treasury regulations and 5 U.S.C. 552.
11. Information of a Sensitive Nature
No questions of a sensitive nature are involved in the information collection process.
12. Estimate of Annual Hour Burden
The total annual hour burden to the respondents is estimated at 49 hours representing 1,477 filings in calendar year 2007 at .033 hours per filing.
13. Estimate of Annual Cost
The estimated annual cost to respondents is $2,450. This is based on an annual burden of 49 hours at $50 per hour average cost that represents a mixture of management and support personnel necessary to prepare and submit a check.
14. Estimate of Annualized Cost to Government
The annualized cost to the government is allocated to the review and processing of specific applications. These costs are provided in the relevant OMB Paperwork Reduction Act submissions for each application.
15. Reason for Change in Burden
OTS is citing a reduction in the burden due to a decrease in the number of respondents.
16. Publication
Not applicable.
17. Expiration Date
There is no expiration date for the fee schedule.
18. Exceptions
There are no exceptions to the certification on OMB form 83-1.
COLLECTION OF INFORMATION EMPLOYING STATISTICAL METHODS
Not applicable.
| File Type | application/msword |
| File Title | SUPPORTING STATEMENT FOR |
| Author | OTS |
| Last Modified By | Ira Mills |
| File Modified | 2008-10-15 |
| File Created | 2008-06-20 |