Recordkeeping for Timely Deposit Insurance Determination

Forms and Documents

Document Name	Status
SPST 0200 Recordkeeping for Timely Deposit Insurance Determinations 2022 Renewal FINAL.docx Supporting Statement A	2022-12-22
FR2 0202 - Recordkeeping for Timely Deposit Insurance Determinations 87 FR 68491 November 15 2022.pdf Supplementary Document	2022-11-28
FR1 0202 Recordkeeping for Timely Deposit Insurance Determinations 87 FR 56417 September 14 2022.pdf Supplementary Document	2022-11-28

IC Document Collections

IC ID	Document Title	Status
257128	Annual Certification and Report	New
257127	Request for Exemption	New
257126	Request for Extension	New
235542	Ongoing - Highest Complexity	Modified
235541	Ongoing - Middle Complexity	Modified
220362	Ongoing - Lowest Complexity	Modified
220361	Request for Exemption	Modified
220360	Request for Release of Requirements	Modified
220359	Implementation - Highest Complexity	Modified
220358	Implementation - Middle Complexity	Modified
220356	Implementation - Lowest Complexity	Modified

ICR Details

OMB Control No: 3064-0202	ICR Reference No: 202209-3064-003
Status: Historical Active	Previous ICR Reference No: 201907-3064-008
Agency/Subagency: FDIC	Agency Tracking No:
Title: Recordkeeping for Timely Deposit Insurance Determination
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: 02/14/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/22/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2026	36 Months From Approved	02/28/2023
Responses	65	0	74
Time Burden (Hours)	52,652	0	551,145
Cost Burden (Dollars)	0	0	0

---

Abstract: When a bank fails, the FDIC must provide depositors insured funds ‘‘as soon as possible’’ after failure while also resolving the failed bank in the least costly manner. The 12 CFR Part 370 facilitates prompt payment of FDIC-insured deposits when large insured depository institutions fail. The rule requires insured depository institutions that have two million or more deposit accounts ("covered institutions"), to maintain complete and accurate data on each depositor’s ownership interest by right and capacity for all of the covered institution’s deposit accounts. The covered institutions are required to develop the capability to calculate the insured and uninsured amounts for each deposit owner, by ownership right and capacity, for all deposit accounts. This data would be used by the FDIC to make timely deposit insurance determinations in the event of a covered insured depository institution’s failure.

---

Authorizing Statute(s): US Code: 12 USC 1819(a)(Tenth) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1829(g) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 56417	09/14/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 68491	11/15/2022
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 11

IC Title	Form No.	Form Name
Annual Certification and Report
Implementation - Highest Complexity
Implementation - Lowest Complexity
Implementation - Middle Complexity
Ongoing - Highest Complexity
Ongoing - Lowest Complexity
Ongoing - Middle Complexity
Request for Exemption
Request for Exemption
Request for Extension
Request for Release of Requirements

---

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	65	74	0	0	-9	0
Annual Time Burden (Hours)	52,652	551,145	0	0	-498,493	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:

---

Annual Cost to Federal Government: $0

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

---

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: 12/22/2022

---

Something went wrong when downloading this file. If you have any questions, please send an email to risc@gsa.gov.