[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