Credit Risk Retention

Forms and Documents

Document Name	Status
SPST-0183 Credit Risk Retention 1-26-15 Final.docx Supporting Statement A	2015-01-27

IC Document Collections

IC ID	Document Title	Status
214782	Vertical Interest (Disclosures)	New
214781	Horizontal Interest (Disclosures)	New
214776	Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans (Disclosures)	New
214775	Exemptions for Qualifying Commercial Loans, Commerical Real Estate Loans, and Auto Loans (Recordkeeping)	New
214774	Revolving Pool Securitizations (Disclosures)	New
214773	Revolving Pool Securitizations (Recordkeeping)	New
214772	Qualified Tender Option Bonds (Disclosures)	New
214771	Open Market CLOs (Disclosures)	New
214770	FNMA and FHLMC (Disclosures)	New
214769	Combined Horizontal and Vertical Interests (Disclosures)	New
214768	Combined Horizontal and Vertical Interests (Recordkeeping)	New
197434	Underwriting standards for qualifying auto loans (recordkeeping)	Modified
197433	Underwriting standards for qualifying auto loans (disclosures)	Modified
197432	Underwriting standards for qualifying CRE loans (recordkeeping)	Modified
197431	Underwriting standards for qualifying CRE loans (disclosures)	Modified
197429	Underwriting standards for qualifying commercial loans (recordkeeping)	Modified
197428	Underwriting standards for qualifying commercial loans (disclosures)	Modified
197427	Exemption for qualified residential mortgages (One-time disclosure)	Removed
197426	Exemption for certain residential mortgages recordkeeping	Modified
197425	Exemption for certain residential mortgages disclosures	Modified
197424	Allocation of risk retention to an orginator recordkeeping	Modified
197423	Allocation of risk retention to an originator disclosures	Modified
197422	Premium cash reserve account	Removed
197421	Commercial mortgage-backed securities recordkeeping	Modified
197420	Commercial mortgage-backed securities disclosures	Modified
197419	Eligible ABCP conduits recordkeeping	Modified
197417	Eligible ABCP conduits disclosures	Modified
197416	Representative sample recordkeeping	Removed
197414	Representative sample disclosures	Removed
197413	Revolving master trusts	Removed
197412	L-shaped risk retention	Removed
197411	Horizontal risk retention (recordkeeping)	Modified
197410	Vertical risk retention (recordkeeping)	Modified

ICR Details

OMB Control No: 3064-0183	ICR Reference No: 201501-3064-002
Status: Historical Active	Previous ICR Reference No: 201103-3064-003
Agency/Subagency: FDIC	Agency Tracking No:
Title: Credit Risk Retention
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: 08/07/2015
	Date Received in OIRA: 01/27/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2018	36 Months From Approved
Responses	298	0	0
Time Burden (Hours)	3,233	0	0
Cost Burden (Dollars)	0	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:
3064-AD74	Final or interim final rulemaking	79 FR 77602	12/24/2014

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 27

IC Title	Form No.	Form Name
Revolving Pool Securitizations (Disclosures)
Exemptions for Qualifying Commercial Loans, Commerical Real Estate Loans, and Auto Loans (Recordkeeping)
Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans (Disclosures)
L-shaped risk retention
Revolving Pool Securitizations (Recordkeeping)
Horizontal Interest (Disclosures)
Vertical Interest (Disclosures)
Eligible ABCP conduits disclosures
Allocation of risk retention to an originator disclosures
Allocation of risk retention to an orginator recordkeeping
Exemption for certain residential mortgages disclosures
Underwriting standards for qualifying commercial loans (recordkeeping)
Exemption for certain residential mortgages recordkeeping
Eligible ABCP conduits recordkeeping
Underwriting standards for qualifying commercial loans (disclosures)
Underwriting standards for qualifying CRE loans (disclosures)
Commercial mortgage-backed securities disclosures
Commercial mortgage-backed securities recordkeeping
Underwriting standards for qualifying auto loans (recordkeeping)
Horizontal risk retention (recordkeeping)
Vertical risk retention (recordkeeping)
Underwriting standards for qualifying auto loans (disclosures)
Underwriting standards for qualifying CRE loans (recordkeeping)
Combined Horizontal and Vertical Interests (Recordkeeping)
Combined Horizontal and Vertical Interests (Disclosures)
FNMA and FHLMC (Disclosures)
Open Market CLOs (Disclosures)
Qualified Tender Option Bonds (Disclosures)
Revolving master trusts
Representative sample disclosures
Exemption for qualified residential mortgages (One-time disclosure)
Representative sample recordkeeping
Premium cash reserve account

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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	298	0	-4,666	4,964	0	0
Annual Time Burden (Hours)	3,233	0	-47,301	50,534	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: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This is a new information collection.

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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

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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: 01/27/2015

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