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.

Forms and Documents

Document Name	Status
SPST-0177 Securitization Safe Harbor Final Rule Revisions March 2020.docx Supporting Statement A	2020-03-05

IC Document Collections

IC ID	Document Title	Status
229809	360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - RMBS	Removed
229808	360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - CMBS	Removed
229807	360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - Auto	Removed
229805	360.6(c)(7)	Modified
229804	360.6(b)(2)(ii)(C)	Modified
229803	360.6(b)(2)(ii)(B)	Modified
229802	360.6(b)(2)(i)(D)	Modified
192915	360.6(b)(2)(i)(A), (D) - Ongoing - Private Transactions - Non Reg AB Compliant	Removed

ICR Details

OMB Control No: 3064-0177	ICR Reference No: 202003-3064-001
Status: Active	Previous ICR Reference No: 201801-3064-001
Agency/Subagency: FDIC	Agency Tracking No: 3064-0177
Title: 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.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/06/2020
	Date Received in OIRA: 03/05/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2023	36 Months From Approved	04/30/2021
Responses	180	0	60,422
Time Burden (Hours)	348	0	16,272
Cost Burden (Dollars)	0	0	7,968,445

---

Abstract: 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.

---

Authorizing Statute(s): US Code: 12 USC 1821(e)(13)(C) Name of Law: FDI Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AF09	Final or interim final rulemaking	85 FR 12724	03/04/2020

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 43732	08/22/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 12724	03/04/2020
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
360.6(b)(2)(i)(D)
360.6(b)(2)(ii)(B)
360.6(b)(2)(ii)(C)
360.6(c)(7)
360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - RMBS
360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - CMBS
360.6(b)(2)(i)(A), (B) - Initial/One-Time - Capital/Start-Up Costs - Private Transactions - Auto
360.6(b)(2)(i)(A), (D) - Ongoing - Private Transactions - Non Reg AB Compliant

---

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	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

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 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.

---

Annual Cost to Federal Government:

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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

---

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: 03/05/2020

---