[Federal Register Volume 63, Number 169 (Tuesday, September 1, 1998)]
[Notices]
[Pages 46508-46510]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23484]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Proposed Agency Information, Collection Activities

AGENCY: Office of Thrift Supervision, Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to comment on proposed and continuing 
information collections, as required by the Paperwork Reduction Act of 
1995. Today, the Office of Thrift Supervision within the Department of 
the Treasury solicits comments on the Thrift Financial Report.

DATES: Submit comments on or before November 2, 1998.

ADDRESSES: Send comments to Manager, Dissemination Branch, Records 
Management and Information Policy, Office of Thrift Supervision, 1700 G 
Street, NW., Washington, DC 20552, Attention 1550-0023. Hand deliver 
comments to 1700 G Street, NW., from 9:00 A.M. to 5:00 P.M. on business 
days.

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Send facsimile transmissions to FAX Number (202) 906-7755 or (202) 906-
6956 (if the comment is over 25 pages). Send e-mails to 
[email protected] and include your name and telephone number. 
Interested persons may inspect comments at 1700 G Street, NW., from 
9:00 A.M. until 4:00 P.M. on business days.

FOR FURTHER INFORMATION CONTACT: Trudy Reeves, Financial Reporting 
Division, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552, (202) 906-7317. Interested persons may also obtain 
information on the internet at www.ots.treas.gov/tfrpage.html, by 
requesting Document Number 73041 on OTS's Publifax line at (202) 906-
5660, or by calling (202) 906-6078.

SUPPLEMENTARY INFORMATION:
    Title: Thrift Financial Report.
    OMB Number: 1550-0023.
    Form Numbers: OTS 1313, OTS 1568.
    Abstract: All OTS-regulated savings associations must comply with 
the information collections described in this notice. The OTS collects 
this information each calendar quarter. The OTS needs this information 
to monitor and supervise the thrift industry.
    Current Actions: After reviewing its current supervisory and 
examination needs, the OTS proposes to revise the Thrift Financial 
Report (TFR), effective with the March 31, 1999 report. The OTS has 
limited the proposed changes for 1999 to minimize the burden to the 
savings and loan industry to allow it to focus on year 2000 compliance.

High Loan-to-Value Loans

    The OTS has considerable supervisory concerns regarding high loan-
to-value (LTV) lending, particularly LTV ratios in excess of 100% of 
the market value of the collateral. Currently, the OTS requires 
associations to report loans with LTV ratios in excess of 90% monthly 
to their board of directors (OTS Regulation 560.100-101). However, the 
OTS does not require associations to report LTV data on the Thrift 
Financial Report (TFR). Due to increased concern regarding high LTV 
lending, coupled with the OTS's current inability to effectively 
monitor off-site potential high risk lending, the OTS proposes to 
collect eight additional data items. With this change, the TFR will be 
more useful in promptly identifying a changing risk profile of 
regulated institutions. This change should impact only a small number 
of savings associations.

Comprehensive Income (SFAS No. 130)

    Under Statement of Financial Accounting Standards No. 130, entities 
must report accumulated other comprehensive income separately from 
retained earnings in the equity section of the balance sheet. 
Accumulated other comprehensive income includes: unrealized gains and 
losses on available-for-sale securities; minimum pension liability 
adjustments; foreign currency translation gains and losses; and, upon 
the adoption of SFAS No. 133, gains and losses associated with cash 
flow hedges. Under the current TFR format, savings associations report 
foreign currency translation adjustments, gains and losses associated 
with cash flow hedges, and minimum pension liability adjustments on 
line SC890, Other Components of Equity Capital. Savings associations 
report unrealized gains and losses on available-for-sale securities 
separately on line SC860. The OTS proposes to delete SC860 and replace 
this item with SC865, Accumulated Other Comprehensive Income.

Asset Maturity Data

    The OTS also proposes to delete five lines that collect data on 
asset maturities on Schedule SI. Currently, only savings associations 
that meet the Schedule CMR exemption criteria (assets less than $300 
million and risk-based capital in excess of 12%) and that opt not to 
file Schedule CMR (Asset Maturity and Interest Rates) must provide 
these data. OTS no longer needs to collect these data.
    A detailed description of the proposed changes follows:

Schedule SC

    Delete SC860, Unrealized Gains and Losses on Available-for-Sale 
Securities, and replace it with SC865, Accumulated Other Comprehensive 
Income.

Schedule SI

    Delete five lines as follows:
Asset Repricing/Maturing Data
SI700: Will the reporting association file Schedule CMR for this 
quarter?
Assets Repricing/Maturing in Three Years or Less:
SI710: Mortgage Loans and Securities
SI720: Nonmortgage Loans, Interest-earning Deposits and Investment 
Securities
Assets Repricing/Maturing in More Than Three Years:
SI730: Mortgage Loans and Securities
SI740: Nonmortgage Loans, Interest-earning Deposits and Investment 
Securities

    Add the following 4 lines:

High Loan-to-Value Loans (Outstanding Balances)

Loans Without PMI or Government Guarantee
Permanent Mortgages On 1-4 Dwelling Units:
    SI412: >90 to 100 LTV
    SI415: Over 100 LTV
Consumer Loans Secured (in whole or in part) by Real Estate, Reported 
on SC316 and SC340:
    SI422: >90 to 100 LTV
    SI425: Over 100 LTV

Schedule CF

    Add the following 4 lines:
High Loan-to-Value Loans
    Permanent Mortgages On 1-4 Dwelling Units and Consumer Loans 
Secured (in whole or in part) by Real Estate Without PMI or Government 
Guarantee:
Originated or Purchased During the Quarter:
    CF405: >90 to 100 LTV
    CF407: Over 100 LTV
Sold During the Quarter:
    CF409: >90 to 100 LTV
    CF410: Over 100 LTV

    Note: Savings Associations should determine Loan-to-Value ratios 
at origination in accordance with the definition in the interagency 
guidelines attached to 560.101.

    Type of Review: Revision.
    Affected Public: Business or For Profit.
    Estimated Number of Respondents and Recordkeepers: 1182.
    Estimated Time Per Respondent: 33 hours average.
    Estimated Total Annual Burden Hours: 156,024 hours.
    Request for Comments: The OTS will summarize or include comments 
submitted in response to this notice with the request for OMB approval, 
and will include these comments in the public record. The OTS invites 
comments on: (a) Whether the collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information shall have practical utility; (b) the accuracy 
of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality; (d) ways to minimize the 
burden of the collection of information on respondents, including the 
use of automated collection techniques or other forms of information 
technology; and (e) estimates of capital or start-up

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costs and costs of operation, maintenance, and purchase of services to 
provide information.

    Dated: August 27, 1998.
Catherine C. M. Teti,
Director, Records Management and Information Policy.
[FR Doc. 98-23484 Filed 8-31-98; 8:45 am]
BILLING CODE 6720-01-P