Credit Risk Retention - Regulation RR

Forms and Documents

Document Name	Status
CreditRiskRetention.SS.2024.pdf Supporting Statement A	2024-06-28
Regulation RR.30 Day Federal Register Notice.89FR53692.pdf Supplementary Document	2024-06-28
Regulation RR.60 Day Federal Register Notice.89FR27472.pdf Supplementary Document	2024-06-28

IC Document Collections

IC ID	Document Title	Status
213719	?_D.18 - Underwriting Standards for Qualifying Autombile Loans: Recordkeeping	Unchanged
209044	?_D.18 - Underwriting Standards for Qualifying Autombile Loans: Disclosures	Modified
209039	?_D.17 - Underwriting Standards for Qualifying CRE Loans: Recordkeeping	Unchanged
209037	?_D.17 - Underwriting Standards for Qualifying CRE Loans: Disclosures	Modified
209035	?_D.16 - Underwriting Standards for Qualifying Commercial Loans: Recordkeeping	Unchanged
209034	?_D.16 - Underwriting Standards for Qualifying Commercial Loans: Disclosures	Modified
209033	?_D.15 - Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans: Recordkeeping	Unchanged
209032	?_D.15 - Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans: Disclosures	Modified
209031	?§_D.13 and_.19(g) - Exemption for Qualified Residential Mortgages and Qualifying 3-to-4 Unit Residential Mortgage Loans: Recordkeeping	Unchanged
209030	?§_D.13 and_.19(g) - Exemption for Qualified Residential Mortgages and Qualifying 3-to-4 Unit Residential Mortgage Loans: Disclosures	Modified
209029	?_C.11 - Allocation of Risk Retention to an Originator: Recordkeeping	Unchanged
209028	?_C.11 - Allocation of Risk Retention to an Originator: Disclosures	Modified
209027	?_B.10 - Qualified Tender Option Bonds: Disclosures	Modified
209026	?_B.9 - Open-Market CLOs: Disclosures	Modified
209010	?_B.8 - FNMA and FHLMC ABS: Disclosures	Modified
209009	?_B.7 - Commercial Mortgage-Backed Securities: Recordkeeping	Unchanged
209008	?_B.7 - Commercial Mortgage-Backed Securities: Disclosures	Modified
209007	?_B.6 - Eligible ABCP Conduits: Recordkeeping	Unchanged
209005	?_B.6 - Eligible ABCP Conduits: Disclosures	Modified
209004	?_B.5 - Revolving Master Trusts: Recordkeeping	Unchanged
209003	?_B.5 - Revolving Master Trusts: Disclosures	Modified
208995	?_B.4 - Combined Horizontal and Vertical Interests: Recordkeeping	Unchanged
208994	?_B.4 - Combined Horizontal and Vertical Interests: Disclosures	Modified
208993	?_B.4 - Standard Risk Retention - Vertical Interest: Recordkeeping	Unchanged
208992	?_B.4 - Standard Risk Retention - Vertical Interest: Disclosures	Modified
208990	?_B.4 - Standard Risk Retention - Horizontal Interest: Recordkeeping	Unchanged
208989	?_B.4 - Standard Risk Retention - Horizontal Interest: Disclosures	Modified

ICR Details

OMB Control No: 3235-0712	ICR Reference No: 202406-3235-031
Status: Received in OIRA	Previous ICR Reference No: 202105-3235-019
Agency/Subagency: SEC	Agency Tracking No: CF 270-613
Title: Credit Risk Retention - Regulation RR
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/30/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2024
Responses	1,647	1,647
Time Burden (Hours)	17,774	17,774
Cost Burden (Dollars)	3,409,278	2,336,400

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Abstract: The credit risk retention recordkeeping and disclosure requirements are contained in Regulation RR, which would implement Section 15G of the Securities Exchange Act of 1934.

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Authorizing Statute(s): US Code: 15 USC 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c, 78m, 78o, 78w(a) Name of Law: Securities Exchange Act of 1934
  

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:
	89 FR 27472	04/17/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 53692	06/27/2024
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
§_B.10 - Qualified Tender Option Bonds: Disclosures
§_B.4 - Combined Horizontal and Vertical Interests: Disclosures
§_B.4 - Combined Horizontal and Vertical Interests: Recordkeeping
§_B.4 - Standard Risk Retention - Horizontal Interest: Disclosures
§_B.4 - Standard Risk Retention - Horizontal Interest: Recordkeeping
§_B.4 - Standard Risk Retention - Vertical Interest: Disclosures
§_B.4 - Standard Risk Retention - Vertical Interest: Recordkeeping
§_B.5 - Revolving Master Trusts: Disclosures
§_B.5 - Revolving Master Trusts: Recordkeeping
§_B.6 - Eligible ABCP Conduits: Disclosures
§_B.6 - Eligible ABCP Conduits: Recordkeeping
§_B.7 - Commercial Mortgage-Backed Securities: Disclosures
§_B.7 - Commercial Mortgage-Backed Securities: Recordkeeping
§_B.8 - FNMA and FHLMC ABS: Disclosures
§_B.9 - Open-Market CLOs: Disclosures
§_C.11 - Allocation of Risk Retention to an Originator: Disclosures
§_C.11 - Allocation of Risk Retention to an Originator: Recordkeeping
§_D.15 - Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans: Disclosures
§_D.15 - Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans: Recordkeeping
§_D.16 - Underwriting Standards for Qualifying Commercial Loans: Disclosures
§_D.16 - Underwriting Standards for Qualifying Commercial Loans: Recordkeeping
§_D.17 - Underwriting Standards for Qualifying CRE Loans: Disclosures
§_D.17 - Underwriting Standards for Qualifying CRE Loans: Recordkeeping
§_D.18 - Underwriting Standards for Qualifying Autombile Loans: Disclosures
§_D.18 - Underwriting Standards for Qualifying Autombile Loans: Recordkeeping
§§_D.13 and_.19(g) - Exemption for Qualified Residential Mortgages and Qualifying 3-to-4 Unit Residential Mortgage Loans: Disclosures
§§_D.13 and_.19(g) - Exemption for Qualified Residential Mortgages and Qualifying 3-to-4 Unit Residential Mortgage Loans: Recordkeeping

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ICR Summary of Burden

	Total Request	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	1,647	1,647	0	0	0	0
Annual Time Burden (Hours)	17,774	17,774	0	0	0	0
Annual Cost Burden (Dollars)	3,409,278	2,336,400	0	0	1,072,878	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $131,724,880

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? No

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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: 06/30/2024

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