Recordkeeping Provisions Associated with Guidance on Leveraged Lending

Forms and Documents

Document Name	Status
FR4203_20130529_omb.docx Supporting Statement A	2013-05-30
FR4203_LeveragedFinanceGuidance_20130322_nfg.pdf Supplementary Document	2013-03-22
FR4203_LeveragedFinanceGuidance_20130321_nfgpr.pdf Supplementary Document	2013-03-22
FR4203_LeveragedFinanceGuidance_20120330_npg.pdf Supplementary Document	2013-03-22
FR4203_LeveragedFinanceGuidance_20120326_npgpr.pdf Supplementary Document	2013-03-22

IC Document Collections

IC ID	Document Title	Status
201728	Maintain guidance provisions Other-Description of guidance requirements	New
201727	Implement guidance provisions Other-Description of guidance requirements	New

ICR Details

OMB Control No: 7100-0354	ICR Reference No: 201203-7100-010
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: FRS	Agency Tracking No: FR 4203
Title: Recordkeeping Provisions Associated with Guidance on Leveraged Lending
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/13/2013
	Date Received in OIRA: 06/13/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2016	36 Months From Approved
Responses	82	0	0
Time Burden (Hours)	74,570	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The inter-agency guidance outlines high-level principles related to safe and sound leveraged lending activities, including underwriting considerations, assessing and documenting enterprise value, risk management expectations for credits awaiting distribution, stress testing expectations and portfolio management, and risk management expectations. This proposed guidance would apply to all financial institutions substantively engaged in leveraged lending activities supervised by Office of the Comptroller of the Currency; Board of Governors of the Federal Reserve System; and Federal Deposit Insurance Corporation, collectively (the Agencies).

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Authorizing Statute(s): US Code: 12 USC 248(a)(2), 602 and 611a Name of Law: Federal Reserve Act
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act
   US Code: 12 USC 3105(c)(2) Name of Law: International Banking Act
   US Code: 12 USC 5412 and 1467a(b)(3) Name of Law: Dodd-Frank Act
   US Code: 5 USC 552(b)(4) and (8) Name of Law: Freedom of Information Act
  

Citations for New Statutory Requirements: None

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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:
	77 FR 19417	03/30/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 17766	03/22/2013
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Implement guidance provisions
Maintain guidance provisions

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ICR Summary of Burden

	Total Approved	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	82	0	0	82	0	0
Annual Time Burden (Hours)	74,570	0	0	74,570	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Agencies are revising the inter-agency leveraged finance guidance issued in 2001. Transactions that are covered by this guidance are characterized by a borrower with a degree of financial or cash flow leverage that significantly exceeds industry norms as measured by various debt, cash flow, or other ratios.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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]? No

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

Is this ICR related to the Pandemic Response? Uncollected

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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: 06/13/2013

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