Reporting Requirements Associated with Regulation QQ

Forms and Documents

Document Name	Status
FRQQ_20180823_omb.pdf Supporting Statement A	2018-08-23

IC Document Collections

IC ID	Document Title	Status
202989	Complex Filers Foreign	Modified
202987	Complex Filers Domestic	Modified
202986	December Filers Full Reporters Foreign	Modified
202985	December Filers Full Reporters Domestic	Modified
202984	December Filers Tailored Reporters Foreign	Modified
202983	December Filers Tailored Reporters Domestic	Modified
202982	Reduced Reporters	Modified

ICR Details

OMB Control No: 7100-0346	ICR Reference No: 201808-7100-002
Status: Historical Active	Previous ICR Reference No: 201207-7100-001
Agency/Subagency: FRS	Agency Tracking No: FR QQ
Title: Reporting Requirements Associated with Regulation QQ
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/23/2018
	Date Received in OIRA: 08/23/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2021	36 Months From Approved	01/31/2019
Responses	111	0	323
Time Burden (Hours)	1,137,797	0	855,304
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation QQ - Resolution Plans (12 CFR Part 243) requires each bank holding company (BHC) with assets of $50 billion or more and nonbank financial firms designated by the Financial Stability Oversight Council (FSOC) for supervision by the Board (each a covered company) to report annually to the Board and the Federal Deposit Insurance Corporation (FDIC) the plan of such company for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of the company’s material financial distress or failure.

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Authorizing Statute(s): US Code: 12 USC 5365(d)(8) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

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:
	83 FR 2983	01/22/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 42296	08/21/2018
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 7

IC Title	Form No.	Form Name
Reduced Reporters
December Filers Tailored Reporters Domestic
December Filers Tailored Reporters Foreign
December Filers Full Reporters Domestic
December Filers Full Reporters Foreign
Complex Filers Domestic
Complex Filers Foreign

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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	111	323	0	0	-212	0
Annual Time Burden (Hours)	1,137,797	855,304	0	0	282,493	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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: The proposed annual burden for the reporting requirements of this information collection is estimated to be 1,137,797 hours, an increase of 282,493 hours from the current estimate of 855,304 hours. The increase in estimated burden hours reflects that the original estimate (1) underestimated the burden hours of complying with the basic informational requirements of the rule and (2) did not fully account for the burden associated with responding to guidance, feedback, and requests for additional information by the agencies as part of the resolution planning process. Additionally, the burden estimate accounts for the postponement of the next submission by the largest and most complex BHCs of their resolution plans until July 1, 2019, announced by the Board and the FDIC on September 28, 2017.

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Annual Cost to Federal Government: $6,000,000

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]? 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: 08/23/2018

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