Privacy Act of 1974, as Amended; System of Records
The Federal Deposit Insurance Corporation (``FDIC'') proposes to add one new system of records to its existing inventory of record systems subject to the Privacy Act of 1974. This new system of records is entitled Online Ordering Request Records. The FDIC also proposes to revise and republish a compilation of all its system of records notices. The systems revisions are minor corrective and administrative changes that do not meet the threshold criteria established by the Office of Management and Budget for either a new or altered system of records. We hereby publish this notice for comment on the proposed actions.
Amendment of the Debt Guarantee Program To Provide for the Establishment of a Limited Six-Month Emergency Guarantee Facility
To ensure an orderly phase-out of the Debt Guarantee Program (DGP), a component of the Temporary Liquidity Guarantee Program (TLGP), the FDIC is establishing a limited emergency guarantee facility. For most insured depository institutions and other entities participating in the DGP, the Debt Guarantee Program will conclude on October 31, 2009, with the FDIC's guarantee expiring no later than December 31, 2012. To the extent that certain of those entities become unable to issue non-guaranteed debt to replace maturing senior unsecured debt because of market disruptions or other circumstances beyond their control, the emergency guarantee facility will be available on an application basis. In order to utilize the emergency guarantee facility, an entity must apply to, and receive prior approval from, the FDIC. If the application is approved, the FDIC will guarantee the applicant's senior unsecured debt issued on or before April 30, 2010. Debt guaranteed under the emergency guarantee facility will be subject to an annualized assessment rate equal to a minimum of 300 basis points.
Assessments: Paperwork Reduction Act Notice
On October 2, 2009, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009 (see 74 FR 51063 (Oct. 2, 2009)). The FDIC is supplementing that notice of proposed rulemaking with a Paperwork Reduction Act analysis and seeking comment on the Paperwork Reduction Act implications of the proposed rule.
Pursuant to Section 7(b) of the Federal Deposit Insurance Act, the FDIC is proposing to amend its assessment regulations to require insured institutions to prepay, on December 30, 2009, their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012. The FDIC would begin to offset prepaid assessments on March 30, 2010, representing payment for the fourth quarter of 2009.
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC (collectively, the ``agencies'') may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number.