[Federal Register Volume 59, Number 11 (Tuesday, January 18, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-1085] [[Page Unknown]] [Federal Register: January 18, 1994] ======================================================================= ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION Information Collection Submitted to OMB for Review AGENCY: Federal Deposit Insurance Corporation. ACTION: Notice of information collection submitted to OMB for review and approval under the Paperwork Reduction Act of 1980. ----------------------------------------------------------------------- SUMMARY: In accordance with requirements of the Paperwork Reduction Act of 1980 (44 U.S.C. chapter 35), the FDIC hereby gives notice that it has submitted to the Office of Management and Budget a request for OMB review of the information collection system described below. Type of Review: Revision of a currently approved collection. Title: Consolidated Reports of Condition and Income (Insured State Nonmember Commercial and Savings Banks). Form Number: FFIEC 031, 032, 033, 034. OMB Number: 3064-0052. Expiration Date of OMB Clearance: March 31, 1994. Respondents: Insured state nonmember commercial and savings banks. Frequency of Response: Quarterly. Number of Respondents: 7,310. Number of Responses per Respondent: 4. Total Annual Responses: 29,240. Average Number of Hours per Response: 26.28. Total Annual Burden Hours: 768,374. OMB Reviewer: Gary Waxman, (202) 395-7340, Office of Management and Budget, Paperwork Reduction Project 3064-0052, Washington, DC 20503. FDIC Contact: Steven F. Hanft, (202) 898-3907, Office of the Executive Secretary, Room F-400, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. Comments: Comments on this collection of information are welcome and should be submitted before March 21, 1994. ADDRESSES: A copy of the submission may be obtained by calling or writing the FDIC contact listed above. Comments regarding the submission should be addressed to both the OMB reviewer and the FDIC contact listed above. SUPPLEMENTARY INFORMATION: The FDIC is submitting for OMB review changes to the Federal Financial Institutions Examination Council (FFIEC) Consolidated Reports of Condition and Income (Call Reports) filed quarterly by insured state nonmember commercial and savings banks. The Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) are also submitting these changes for OMB review for the banks under their supervision. The revisions to the Call Reports that are the subject of this request were approved by the FFIEC on December 16, 1993, and are scheduled to take effect as of March 31, 1994. Unless otherwise indicated, these Call Report changes apply to all four sets of report forms (FFIEC 031, 032, 033, and 034). Nonetheless, as is customary for Call Report changes, banks will be advised that they may provide reasonable estimates for any of the new items in their March 31, 1994, Call Reports for which the requested information is not readily available. The changes for which OMB approval is requested are summarized as follows: (1) Revisions to the reporting of securities in the following Call Report schedules to reflect the effect of Financial Accounting Standards Board Statement No. 115, ``Accounting for Certain Investments in Debt and Equity Securities'' (FASB 115), which banks must adopt for Call Report purposes for fiscal years beginning after December 15, 1993: (a) In the body of Schedule RC-B, ``Securities,'' the amortized cost and fair value for each type of held-to-maturity securities would be reported separately from the amortized cost and fair value for each type of available-for-sale securities. On the FFIEC 031 report forms only, the breakdown of securities (not held in trading accounts) in domestic offices by type of security would be moved from the body of Schedule RC-B to Schedule RC-H, ``Selected Balance Sheet Items for Domestic Offices.'' (b) In the Memoranda section of Schedule RC-B, Memorandum items 3, ``Taxable securities issued by states and political subdivisions in the U.S.,'' and 5, ``Debt securities held for sale,'' would be deleted. A new Memorandum item would be added for the amortized cost of held-to- maturity securities sold or transferred during the calendar year-to- date. (c) On Schedule RC, ``Balance Sheet,'' item 2, ``Securities,'' would be split into separate items for ``Available-for-sale securities'' and ``Held-to-maturity securities,'' while item 26.b would be recaptioned as ``Net unrealized holding gains (losses) on available- for-sale securities.'' (d) On Schedule RI, ``Income Statement,'' item 6, ``Gains (losses) on securities not held in trading accounts,'' would be split into separate items for realized gains (losses) on available-for-sale securities and held-to-maturity securities. (e) On Schedule RI-A, ``Changes in Equity Capital,'' item 11 would be recaptioned as ``Change in net unrealized holding gains (losses) on available-for-sale securities.'' (2) On Schedule RC-M, ``Memoranda,'' new items would be added for the amount of mutual funds (segregated into four categories) and annuities sold during the quarter by the reporting bank and by third parties with whom the bank has a contractual sales arrangement. In Schedule RI, ``Income Statement,'' a Memorandum item would be added for fee income from the sale and servicing of mutual funds and annuities. (3) On Schedule RC, ``Balance Sheet,'' item 16 for ``Other borrowed money'' would be split into separate subitems for amounts with an original maturity of one year or less and for amounts with an original maturity of more than one year. In addition, a new category of liabilities, ``Trading liabilities,'' would begin to be reported on Schedule RC. (4) On Schedule RC-O, ``Other Data for Deposit Insurance Assessments,'' a new item would be added for ``Benefit-Responsive `Depository Institution Investment Contracts'.'' (5) On the FFIEC 031 and 032 report forms only: (a) Schedule RC-D would be revised to cover both trading assets and liabilities, including new items for three categories of mortgage- backed securities, trading assets in foreign offices (on the FFIEC 031 report forms), revaluation gains (broken down between domestic offices and foreign offices on the FFIEC 031) and revaluation losses on interest rate, foreign exchange rate, and other commodity and equity contracts, and liability for short positions. In addition to the banks with $1 billion or more in total assets that are currently required to complete Schedule RC-D, those banks with $2 billion or more in par/ notional amount of interest rate, foreign exchange rate, and other commodity and equity contracts (and less than $1 billion in total assets) will be required to complete the schedule. (b) Schedule RC-N, which collects past due and nonaccrual data, would see the addition of new items for interest rate, foreign exchange rate, and other commodity and equity contracts that are past due 30 through 89 days or past due 90 days or more. Banks would report the book value of amounts carried as assets on the balance sheet for such past due contracts as well as the replacement cost of those past due contracts with a positive replacement cost. Consistent with the existing treatment of Schedule RC-N data, individual bank information on contracts past due 30 through 89 days would be treated as confidential. (6) On Schedule RC-C, part I, ``Loans and Leases,'' a single total would be reported for ``Obligations (other than securities and leases) of states and political subdivisions in the U.S.'' and the separate items for taxable and tax-exempt obligations would be eliminated. (7) Memorandum items 1 and 2 on Schedule RC-L, ``Off-Balance Sheet Items,'' which collect data on certain loan sales and purchases during the quarter would be deleted. In addition, the general Call Report instruction precluding assets and liabilities from being offset or otherwise netted unless specifically required by the instructions would be modified to allow on-balance sheet amounts associated with conditional and exchange contracts (e.g., forwards, interest rate swaps, and options) to be offset in accordance with Financial Accounting Standards Board Interpretation No. 39. This would be an interim treatment pending clarification of an interpretive issue under Interpretation No. 39. Dated: January 11, 1994. Federal Deposit Insurance Corporation. Robert E. Feldman, Acting Executive Secretary. [FR Doc. 94-1085 Filed 1-14-94; 8:45 am] BILLING CODE 6714-01-M