Reporting Requirements Associated with Regulation QQ

Forms and Documents

Document Name	Status
FRQQ_20241022_omb.pdf Supporting Statement A	2024-10-22

IC Document Collections

IC ID	Document Title	Status
271637	Waivers Other-2019 Guidance	New
202986	Biennial Filers Domestic Other-2019 Guidance	Modified
202985	Triennial Full Domestic MPOE Other-2019 Guidance	Modified
202984	Triennial Full FBO MPOE Other-2019 Guidance	Modified
202983	Triennial Full FBO SPOE Other-2019 Guidance	Modified
202982	Triennial Reduced Other-2019 Guidance	Modified

ICR Details

OMB Control No: 7100-0346	ICR Reference No: 202410-7100-008
Status: Active	Previous ICR Reference No: 202410-7100-003
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: 10/22/2024
	Date Received in OIRA: 10/22/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2027	36 Months From Approved	10/31/2024
Responses	41	0	41
Time Burden (Hours)	216,129	0	201,207
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation QQ - Resolution Plans (12 CFR Part 243) requires each covered company to report periodically to the Board and Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) the plan of such company for 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)(1) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   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:
	88 FR 64626	09/19/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 66388	08/15/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Biennial Filers Domestic
Triennial Full Domestic MPOE
Triennial Full FBO MPOE
Triennial Full FBO SPOE
Triennial Reduced
Waivers

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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	41	41	0	0	0	0
Annual Time Burden (Hours)	216,129	201,207	0	14,922	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated total annual burden for the FR QQ is 201,207 hours, and would increase to 216,129 hours with the revisions. The overall burden increase is due mainly to the application of guidance to several Category II and III firms (all domestic filers and some FBOs) that previously did not have any guidance that applied to them (they only had a resolution plan filing requirement, but no guidance for what capabilities that plan should include).

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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.     Yes

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: 10/22/2024

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