Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation After September 30, 2010.

ICR 202003-3064-001

OMB: 3064-0177

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2020-03-05
ICR Details
3064-0177 202003-3064-001
Active 201801-3064-001
FDIC 3064-0177
Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation After September 30, 2010.
Revision of a currently approved collection   No
Regular
Approved without change 04/06/2020
Retrieve Notice of Action (NOA) 03/05/2020
  Inventory as of this Action Requested Previously Approved
04/30/2023 36 Months From Approved 04/30/2021
180 0 60,422
348 0 16,272
0 0 7,968,445

Part 360.6 of the FDIC’s regulations sets forth certain conditions that must be satisfied for a securitization transaction sponsored by an insured depository institution (IDI) to be eligible for special treatment in the event that the FDIC is appointed receiver for the sponsor. Among other conditions, the securitization documents must require compliance with certain disclosure requirements (including the requirements of Regulation AB of the Securities and Exchange Commission). Conditions of eligibility of for special treatment for participations in financial assets under Part 360.6 are also set forth.

US Code: 12 USC 1821(e)(13)(C) Name of Law: FDI Act
  
None

3064-AF09 Final or interim final rulemaking 85 FR 12724 03/04/2020

  84 FR 43732 08/22/2019
85 FR 12724 03/04/2020
Yes

  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 180 60,422 0 -402 -59,840 0
Annual Time Burden (Hours) 348 16,272 0 -15,924 0 0
Annual Cost Burden (Dollars) 0 7,968,445 0 0 -7,968,445 0
Yes
Changing Regulations
Yes
Changing Regulations
The FDIC is amending its securitization safe harbor rule, which relates to the treatment of financial assets transferred in connection with a securitization transaction, in order to eliminate a requirement that the securitization documents require compliance with Regulation AB of the Securities and Exchange Commission in circumstances where Regulation AB by its terms would not apply to the issuance of obligations backed by such financial assets.

No
    No
    No
No
No
No
Uncollected
Manuel Cabeza 202 898-3781 mcabeza@fdic.gov

  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.
03/05/2020


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