[Federal Register Volume 74, Number 107 (Friday, June 5, 2009)]
[Notices]
[Pages 27037-27038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-13149]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request (3064-0166)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act.

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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). On March 11, 2009, the FDIC solicited public 
comment for a 60-day period on full clearance of the following 
collection currently approved by OMB on an emergency basis: Temporary 
Liquidity Guarantee Program (TLGP), OMB Control No. 3064-0166. No 
comments were received. Therefore, the FDIC hereby gives notice of its 
submission of the TLGP information collection to OMB for review.

DATES: Comments must be submitted on or before July 6, 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: Submission for OMB review 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: (The estimated number of 
respondents for several reporting categories has been adjusted downward 
from initial estimates to better reflect actual experience since 
implementation of the program.)
    Initial report of amount of senior unsecured debt--275.
    Subsequent reports on amount of senior unsecured debt--275.
    Opt-out/opt-in notice--14,932.
    Notice of debt guarantee--275.
    Notice of transaction account guarantee--8,380.
    Notice of issuance of debt guarantee--550.
    Notice of termination of participation--300.
    Debt-holder guarantee claims--2,600.
    Request for increase in debt guarantee limit--275.
    Request for increase in presumptive debt guarantee limit--50.
    Request to opt-in to debt guarantee program--5.
    Request by affiliate to participate in debt guarantee program--275.
    Application to issue mandatory convertible debt: 25.
    Application by certain entities to issue FDIC-guaranteed debt after 
6/30/09: 25.
    Application to issue senior, unsecured, non-guaranteed debt after 
6/30/09: 250.
    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--250.
    Notice of termination of participation--once.
    Debt-holder guarantee claims--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.
    Application by certain entities to issue FDIC-guaranteed debt after 
6/30/09: once.
    Application to issue senior unsecured non-guaranteed debt after 6/
30/09: once.
    Affected Public: FDIC-insured depository institutions, thrift 
holding companies, bank and financial holding companies.
    Estimated Time per Response: (The FDIC did not receive any comments 
on its initial burden estimates. Nevertheless, burden estimates for 
some categories of reports have been increased, in several cases 
significantly, based on informal feedback from program participants.)
    Initial report of amount of senior unsecured debt--1 hour.
    Subsequent reports on amount of senior unsecured debt--4 hours.
    Opt-out/opt-in notice--1 hour.
    Notice of debt guarantee--16 hours.
    Notice of transaction account guarantee--4 hours.
    Notice of issuance of debt guarantee--3 hours.
    Notice of termination of participation--3 hours.
    Debt-holder guarantee claims--3 hours.
    Request for increase in debt guarantee limit--24 hours.
    Request for increase in presumptive debt guarantee limit--16 hours.
    Request to opt-in to debt guarantee program--16 hours.
    Request by affiliate to participate in debt guarantee program--16 
hours.
    Application to issue mandatory convertible debt--40 hours.
    Application by certain entities to issue FDIC-guaranteed debt after 
6/30/09: 2 hours.
    Application to issue senior, unsecured, non-guaranteed debt after 
6/30/09: 8 hours.
    Total Annual Burden: 382,214 hours (This reflects an adjustment of 
-1,822,061 hours and a program change of +600 hours from previous 
estimates.)
    General Description of Collection: This collection includes 
reporting, recordkeeping and disclosure requirements associated with 
the FDIC's TLGP. The TLGP is comprised of (1) a guarantee by the FDIC 
of unsecured, unsubordinated debt of participating, insured, depository 
institutions, their bank holding companies, financial holding 
companies, and thrift holding companies (other than unitary thrift

[[Page 27038]]

holding companies) issued between October 14, 2008, and October 31, 
2009, with guarantees expiring on the earlier of the date of maturity 
or December 31, 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 TLGP 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 TLGP 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.
    All comments will become a matter of public record.

    Dated at Washington, DC, this 2nd day of June, 2009.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. E9-13149 Filed 6-4-09; 8:45 am]
BILLING CODE 6714-01-P