Reporting and Recordkeeping Requirements for Brokered Deposits

ICR 202409-3064-002

OMB: 3064-0099

Federal Form Document

Forms and Documents
ICR Details
3064-0099 202409-3064-002
Received in OIRA 202308-3064-001
FDIC
Reporting and Recordkeeping Requirements for Brokered Deposits
Revision of a currently approved collection   No
Regular 09/20/2024
  Requested Previously Approved
36 Months From Approved 05/31/2027
252 192
545 377
0 0

Section 29 of the Federal Deposit Insurance Act prohibits undercapitalized insured depository institutions from accepting, renewing, or rolling over any brokered deposits. Adequately capitalized institutions may do so with a waiver from the FDIC, while well-capitalized institutions may accept, renew, or roll over brokered deposits without restriction.

US Code: 12 USC 1831f Name of Law: Federal Deposit Insurance Act
  
None

3064-AF99 Proposed rulemaking 89 FR 68244 08/23/2024

No

  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 252 192 0 60 0 0
Annual Time Burden (Hours) 545 377 0 168 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
Yes
Changing Regulations
The FDIC is proposing to issue a rule (the “Proposed Rule”) that would: (1) revise the “deposit broker” definition; (2) amend the analysis of the “primary purpose” exception to the “deposit broker” definition; (3) amend two of the designated business relationships under the primary purpose exception; (4) make changes to the notice and application process for the primary purpose exception; and (5) clarify when an insured depository institution can regain status as an “agent institution” under the limited exception for a capped amount of reciprocal deposits.

$0
No
    No
    No
No
No
No
No
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.
09/20/2024


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