Justification for Nonsubstantive Change

1557-0176.doc

Record and Disclosure Requirements -- FRB Regs B, C, E, M, Z, CC, and DD

Justification for Nonsubstantive Change

OMB: 1557-0176

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FRB Regulations B, C, E, M, Z, CC, DD

Non-substantive Change

OMB Control No. 1557-0176


On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203, 124 Stat. 1376 (2010) (Dodd-Frank Act). As part of the comprehensive package of financial regulatory reform measures enacted, Title III of the Dodd-Frank Act transfers the powers, authorities, rights and duties of the Office of Thrift Supervision to other banking agencies, including the OCC, on the “transfer date.” The transfer date is one year after the date of enactment of the Dodd-Frank Act, July 21, 2011. The Dodd-Frank Act also abolishes the OTS ninety days after the transfer date. As a result of the Dodd-Frank Act, OCC is making a non-substantive change to this collection of information to include the thrift institutions it now regulates.


Current Burden:


1,650 banks @ 6.6466 responses per year = 10,967 responses

10,967 responses @ 355.61238 hours per response = 3,900,001 burden hours


New Burden:


2,314 institutions @ 6.7480553 responses per year = 15,615 responses

15,615 responses @ 353.98046 hours per response = 5,527,405 burden hours


Difference:

+ 664 respondents; + 4,648 responses; + 1,627,404 burden hours


/home/ec2-user/sec/disk/omb/icr/201107-1557-004/doc/26245101

File Typeapplication/msword
File TitleExamination Questionnaire
AuthorOCC
Last Modified ByOCC
File Modified2011-07-20
File Created2011-07-20

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