[Federal Register Volume 74, Number 46 (Wednesday, March 11, 2009)]
[Notices]
[Pages 10581-10582]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-5230]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on continuing information 
collections, as required by the Paperwork Reduction Act of 1995 (44 
U.S.C. chapter 35). Currently, the FDIC is soliciting comments on full 
clearance of the following collection currently approved by OMB on an 
emergency basis: Temporary Liquidity Program (OMB Control No. 3064-
0166).

DATES: Comments must be submitted on or before May 11, 2009.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods. All comments should refer to 
the name of the collection:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     E-mail: [email protected]. Include the name of the 
collection in the subject line of the message.
     Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room F-
1064, Federal Deposit Insurance Corporation, 550 17th Street, NW., 
Washington, DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7 a.m. and 5 p.m.
    A copy of the comments may also be submitted to the OMB desk 
officer for the FDIC: Office of Information and Regulatory Affairs, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie at the address 
identified above.

SUPPLEMENTARY INFORMATION:

Proposal To Obtain Full Clearance of the Following Collection of 
Information Currently Approved on an Emergency Basis

    Title: Temporary Liquidity Guarantee Program.
    OMB Number: 3064-0166.
    Estimated Number of Respondents:
Initial report of amount of senior unsecured debt--14,400.
Subsequent reports on amount of senior unsecured debt--14,400.
Opt-out/opt-in notice--1,600.
Notice of debt guarantee--9,150.
Notice of transaction account guarantee--8,000.
Notice of issuance of debt guarantee--13,650.
Notice of termination of participation--300.
Debt-holder guarantee claims--2,300.
Bankruptcy POC/evidence of POC--300.
Request for increase in debt guarantee limit--1,000.
Request for increase in presumptive debt guarantee limit--100.
Request to opt-in to debt guarantee program--100.
Request by affiliate to participate in debt guarantee program--50.
Application to issue mandatory convertible debt: 25.

    Frequency of Response:

    Initial report of amount of senior unsecured debt--once.
Subsequent reports on amount of senior unsecured debt--4.
Opt-out/opt-in notice--once.
Notice of debt guarantee--once.
Notice of transaction account guarantee--once.
Notice of issuance of debt guarantee--26 to 250.
Notice of termination of participation--once.

[[Page 10582]]

Debt-holder guarantee claims--once.
Bankruptcy POC/evidence of POC--once.
Request for increase in debt guarantee limit--once.
Request for increase in presumptive debt guarantee limit--once.
Request to opt-in to debt guarantee program--once.
Request by affiliate to participate in debt guarantee program--once.
Application to issue mandatory convertible debt--5.

    Affected Public: FDIC-insured depository institutions, thrift 
holding companies, bank and financial holding companies.
    Estimated Time per Response:

    Initial report of amount of senior unsecured debt--1 hour.
Subsequent reports on amount of senior unsecured debt--1 hour.
Opt-out/opt-in notice--0.5 hour.
Notice of debt guarantee--1 to 2 hours.
Notice of transaction account guarantee--2 hours.
Notice of issuance of debt guarantee--0.5 to 3 hours.
Notice of termination of participation--3 hours.
Debt-holder guarantee claims--3 hours.
Bankruptcy POC/evidence of POC-1 hour.
Request for increase in debt guarantee limit--2 hours.
Request for increase in presumptive debt guarantee limit--2 hours.
Request to opt-in to debt guarantee program--1 hour.
Request by affiliate to participate in debt guarantee program--2 hours.
Application to issue mandatory convertible debt--1 hour.

    Total Annual Burden: 2,201,625 hours.
    General Description of Collection: This collection includes 
reporting, recordkeeping and disclosure requirements associated with 
the FDIC's Temporary Liquidity Guarantee (TLG) Program. TLG Program is 
comprised of (1) a guarantee by the FDIC of all unsecured, 
unsubordinated debt of insured depository institutions, their bank 
holding companies, financial holding companies, and thrift holding 
companies (other than unitary thrift holding companies) issued between 
October 14, 2008, and June 30, 2009, with guarantees expiring not later 
than June 30, 2012, and with a system of fees to be paid by these 
institutions for such guarantees; and (2) a 100 percent guaranty of 
non-interest bearing transaction accounts held by insured depository 
institutions until December 31, 2009 (FDIC guarantees). The TLG program 
is designed to strengthen confidence and encourage liquidity in the 
banking system in order to ease lending to creditworthy businesses and 
consumers. The reporting, recordkeeping and disclosure requirements 
apply to eligible entities participating in either the Debt Guarantee 
Component of the program or the Deposit Guarantee Component or both. 
The information obtained allows the FDIC to monitor its exposure under 
the TLG Program and determine assessments for entities participating in 
the program. The required disclosures ensure that depositors, debt 
holders, and the general public are on notice as to which entities are 
participating in the program, the extent to which deposits in 
noninterest-bearing transaction accounts are FDIC-insured, and whether 
newly-issued senior unsecured debt is guaranteed by the FDIC.

Request for Comment

    Comments are invited on: (a) Whether this collection of information 
is necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collection, 
including the validity of the methodologies and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the information 
collection on respondents, including through the use of automated 
collection techniques or other forms of information technology.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the 
collection should be modified prior to submission to OMB for review and 
approval. Comments submitted in response to this notice also will be 
summarized or included in the FDIC's requests to OMB for full clearance 
of this collection. All comments will become a matter of public record.

    Dated at Washington, DC, this ---- day of March, 2009.

Federal Deposit Insurance Corporation.
Valerie Best,
Assistant Executive Secretary.
 [FR Doc. E9-5230 Filed 3-10-09; 8:45 am]
BILLING CODE 6714-01-P