Volcker Rule Restrictions on Proprietary Trading and Relationships with Hedge Funds and Private Equity Funds

Forms and Documents

Document Name	Status
SPST Volcker Rulemaking (revised).doc Supporting Statement A	2014-04-01

IC Document Collections

IC ID	Document Title	Status
209745	Simplified compliance program for entities with modest activities (ongoing)	New
209744	Simplified compliance program for entities with modest activities (initial set-up)	New
209742	Simplified compliance program for less active entities (ongoing)	New
209740	Simplified compliance program for less active entities (initial set-up)	New
209739	Program for compliance additional documentation for covered funds (ongoing)	New
209738	Program for compliance additional documentation for covered funds (initial set-up)	New
209737	Underwriting/market-making trading desk documentation (ongoing)	New
209736	Underwriting/market-making trading desk documentation (initial set-up)	New
209735	Proprietary trading liquidity management plan (ongoing)	New
209734	Proprietary trading liquidity management plan (initial set-up)	New
199700	Covered fund disclosures (ongoing)	Modified
199698	Covered fund disclosures (initial setup)	Modified
199697	Policies and procedures for entities not engaging in prohibited activities (ongoing)	Removed
199696	Policies and procedures for entities not engaging in prohibited activities (initial setup)	Removed
199695	Compliance program (ongoing)	Modified
199694	Compliance program (initial setup)	Modified
199693	Documentation of interest in covered fund (ongoing)	Removed
199692	Documentation of acquisition of interest in covered fund (initial setup)	Removed
199691	Documentation of plan to provide advisory services via covered fund with bona fide trust (ongoing)	Modified
199690	Documentation of plan to provide advisory services via covered fund with bona fide trust provision (initial setup)	Modified
199689	Application to extend time to divest ownership interest in a covered fund (ongoing)	Modified
199688	Application to extend time to divest ownership interest in covered fund (initial set-up)	Modified

ICR Details

OMB Control No: 3064-0184	ICR Reference No: 201312-3064-002
Status: Historical Active	Previous ICR Reference No: 201110-3064-001
Agency/Subagency: FDIC	Agency Tracking No:
Title: Volcker Rule Restrictions on Proprietary Trading and Relationships with Hedge Funds and Private Equity Funds
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/01/2014
	Date Received in OIRA: 01/31/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2017	36 Months From Approved
Responses	3,335	0	0
Time Burden (Hours)	28,234	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: Section 619 of the Wall Street Reform and Consumer Protection Act added a new section 13 to the Bank Holding Company Act. Section 13 of the Bank Holding Company Act contains certain prohibitions and restrictions on the ability of banking entities to engage in proprietary trading and restricts the ability of banking entities to hold certain investments in, and have certain relationships with, hedge funds and private equity funds. This information collection includes certain reporting, recordkeeping and disclosure requirements contained in the implementing rule for section 13.

---

Authorizing Statute(s): PL: Pub.L. 111 - 203 619 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 619 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AD85	Final or interim final rulemaking	79 FR 5535	01/31/2014

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 18

IC Title	Form No.	Form Name
Underwriting/market-making trading desk documentation (initial set-up)
Program for compliance additional documentation for covered funds (initial set-up)
Program for compliance additional documentation for covered funds (ongoing)
Simplified compliance program for less active entities (initial set-up)
Simplified compliance program for less active entities (ongoing)
Policies and procedures for entities not engaging in prohibited activities (initial setup)
Policies and procedures for entities not engaging in prohibited activities (ongoing)
Simplified compliance program for entities with modest activities (initial set-up)
Proprietary trading liquidity management plan (ongoing)
Proprietary trading liquidity management plan (initial set-up)
Underwriting/market-making trading desk documentation (ongoing)
Simplified compliance program for entities with modest activities (ongoing)
Documentation of acquisition of interest in covered fund (initial setup)
Documentation of interest in covered fund (ongoing)
Application to extend time to divest ownership interest in a covered fund (ongoing)
Documentation of plan to provide advisory services via covered fund with bona fide trust provision (initial setup)
Covered fund disclosures (ongoing)
Documentation of plan to provide advisory services via covered fund with bona fide trust (ongoing)
Compliance program (initial setup)
Covered fund disclosures (initial setup)
Application to extend time to divest ownership interest in covered fund (initial set-up)
Compliance program (ongoing)

---

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	3,335	0	5,757	-2,326	-96	0
Annual Time Burden (Hours)	28,234	0	50,568	-1,040	-21,294	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: Changing Regulations

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

Burden Reduction Due to: Changing Regulations

Short Statement: The burden increase of 28,234 hours reflects a new information collection arising from adoption of a final rule implementing section 619 of the Dodd-Frank Act.

---

Annual Cost to Federal Government:

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]? Yes

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

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  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:

(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: 01/31/2014

---