[Federal Register Volume 67, Number 18 (Monday, January 28, 2002)]
[Notices]
[Pages 3933-3934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-1988]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Discontinuance

AGENCIES: Office of Thrift Supervision (OTS), Treasury; and Board of 
Governors of the Federal Reserve System (Board).

ACTION: Discontinuance of information collections.

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SUMMARY: Notice is hereby given of the discontinuance by the Board and 
the OTS (collectively, the ``agencies'') of the following information 
collections, the Annual Report of Trust Assets (FFIEC 001) and the 
Annual Report of International Fiduciary Activities (FFIEC 006), 
effective with the December 31, 2001 report. In accordance with the 
requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 
35), the Board and the OTS (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 OMB 
control number.
    On October 12, 2001, the agencies, under the auspices of the 
Federal Financial Institutions Examination Council (FFIEC), published a 
notice in the Federal Register (66 FR 52186) requesting public comment 
on the discontinuance of the (FFIEC 001 and FFIEC 006) reports. The 
comment period for this notice expired on December 11, 2001. No 
comments were received. The agencies are now submitting requests to OMB 
for approval of the discontinuance of the (FFIEC 001 and FFIEC 006) 
reports.

DATES: Comments must be submitted on or before February 27, 2002.

ADDRESSES: Interested parties are invited to submit written comments to 
either or both of the agencies. All comments should refer to the OMB 
control number(s) and will be shared between the agencies.
    OTS: Submit any written comments concerning this notice to 
Information Collection Comments, Chief Counsel's Office, Office of 
Thrift Supervision, 1700 G Street, N.W., Washington, D.C. 20552, 
Attention: 1550-0026, FAX Number (202) 906-6518, or e-mail to 
[email protected]. OTS will post any comments and 
the related index on the OTS Internet Site at www.ots.treas.gov. In 
addition, interested persons may inspect comments at the Public 
Reference Room, 1700 G Street, NW, by appointment. To make an 
appointment, call (202) 906-5922, send an e-mail to 
[email protected], or send a facsimile transmission to (202) 
906-7755.
    Board: Comments may be mailed to Ms. Jennifer J. Johnson, 
Secretary, Board of Governors of the Federal Reserve System, 20th 
Street and Constitution Avenue, NW., Washington, DC 20551. However, 
because paper mail in the Washington area and at the Board of Governors 
is subject to delay, please consider submitting your comments by e-mail 
to [email protected], or faxing them to the Office of 
the Secretary at 202-452-3819 or 202-452-3102. Comments addressed to 
Ms. Johnson may also be delivered to the Board's mail facility in the 
West Courtyard between 8:45 a.m. and 5:15 p.m., located on 21st Street 
between Constitution Avenue and C Street, N.W. Members of the public 
may inspect comments in Room MP-500 between 9:00 a.m. and 5:00 p.m. on 
weekdays pursuant to Sec. 261.12, except as provided in Sec. 261.14, of 
the Board's Rules Regarding Availability of Information, 12 CFR 261.12 
and 261.14.
    A copy of the comments may also be submitted to the OMB desk 
officer for the agencies: Alexander T. Hunt, Office of Information and 
Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 3208, Washington, DC 20503 or by e-mail to 
[email protected].

FOR FURTHER INFORMATION CONTACT: Additional information or a copy of 
the collections may be requested from:
    OTS: Sally W. Watts, OTS Clearance Officer, (202) 906-7380, Office 
of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552; e-mail 
address [email protected].
    Board: Mary M. West, Federal Reserve Board Clearance Officer, (202) 
452-3829, Division of Research and Statistics, Board of Governors of 
the Federal Reserve System, 20th and C Streets, NW., Washington, DC 
20551. Users of Telecommunications Device for the Deaf (TDD) may 
contact (202) 263-4869.

SUPPLEMENTARY INFORMATION:   

[[Page 3934]]

Discontinuation of the following reports:

    Report Titles: Annual Report of Trust Assets and Annual Report of 
International Fiduciary Activities.
    Form Numbers: FFIEC 001 and FFIEC 006.
    Frequency of Response: Annual.
    Affected Public: Business or other for profit.

    For OTS:

    OMB Number: 1550-0026.
    Number of Respondents: 101 (FFIEC 001).
    Estimated Average Time per Response: 4.08 burden hours (FFIEC 001).
    Estimated Total Annual Burden: 412 burden hours.

    For Board:

    OMB Number: 7100-0031.
    Number of Respondents: 22 (FFIEC 001), 0 (FFIEC 006).
    Estimated Average Time per Response: 3.82 burden hours (FFIEC 001). 
4.0 burden hours (FFIEC 006).
    Estimated Total Annual Burden: 84 burden hours.
    General Description of Reports: This information collection (FFIEC 
001 and FFIEC 006) is mandatory: 12 U.S.C. 1464 (for thrift 
institutions), and 12 U.S.C. 248(a)(1) and (2) and 1844(c) (for state 
member banks and bank holding companies). The data on the FFIEC 001 are 
publicly available with the exception of Schedule E--Fiduciary Income 
Statement. The FFIEC 006, collected by the Board, is given confidential 
treatment [5 U.S.C. 552(b)(8)]. Small businesses (i.e., small banks) 
are affected.
    Abstract: These interagency reports collect information on 
fiduciary asset totals and activities. They are used to monitor changes 
in the volume and character of discretionary trust activity and the 
volume of nondiscretionary trust activity and to determine resource 
needs for supervisory purposes.
    Current Actions: Financial institutions that exercise fiduciary 
powers and have fiduciary assets or accounts have reported information 
on their trust activities each December 31 in the Annual Report of 
Trust Assets (FFIEC 001). Institutions with trust operations in foreign 
offices also complete the Annual Report of International Fiduciary 
Activities (FFIEC 006). The agencies will discontinue the FFIEC 001 and 
the FFIEC 006 trust activities reports.
    This discontinuance is prompted by the introduction of Schedule RC-
T, ``Fiduciary and Related Services,'' on the quarterly bank 
Consolidated Reports of Condition and Income (Call Report) (FFIEC 031 
and 041, OMB No. 7100-0036),\1\ and Schedule T, ``Fiduciary and Related 
Services'' on the quarterly Report of Assets and Liabilities of U.S. 
Branches and Agencies of Foreign Banks (FFIEC 002, OMB No. 7100-
0032).\2\ Schedules RC-T and T take effect as of December 31, 2001. The 
OTS is adding Schedule FS--Fiduciary and Related Services to the Thrift 
Financial Report (OMB No. 1550-0023) effective March 31, 2002.
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    \1\ Federal Register, March 5, 2001 (66 FR 13369).
    \2\ Federal Register, May 4, 2001 (66 FR 22556).
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    The new trust schedule replaces the Annual Report of Trust Assets 
(FFIEC 001) in December 2001 for institutions that file Call Reports 
and the FFIEC 002 and in March 2002 for institutions that file Thrift 
Financial Reports. For national and state member banks, two items in 
the new schedule will replace the Annual Report of International 
Fiduciary Activities (FFIEC 006). However, federally supervised state-
chartered nondeposit trust companies that are subsidiaries of holding 
companies do not file Call Reports or Thrift Financial Reports, but 
were previously required to complete the FFIEC 001. The agencies have 
determined that the information of supervisory interest on trust 
activities that these trust companies have reported on the FFIEC 001 
can be monitored by other means.

Request for Comment

    Comments are invited on:
    a. Whether the information collections are necessary for the proper 
performance of the agencies' functions, including whether the 
information has practical utility;
    b. The accuracy of the agencies' estimates of the burden of the 
information collections, including the validity of the methodology and 
assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collections on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or start up costs and costs of operation, 
maintenance, and purchase of services to provide information.
    Comments submitted in response to this notice will be shared 
between the agencies and will be summarized or included in the 
agencies' requests for OMB approval. All comments will become a matter 
of public record. Written comments should address the accuracy of the 
burden estimates and ways to minimize burden including the use of 
automated collection techniques or the use of other forms of 
information technology as well as other relevant aspects of the 
information collection request.

    Dated: January 18, 2002.
Deborah Dakin,
Deputy Chief Counsel, Regulations & Legislation Division, Office of 
Thrift Supervision.
    Board of Governors of the Federal Reserve System, January 23, 
2002.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-1988 Filed 1-25-02; 8:45 am]
BILLING CODE 6720-01-P and 6210-01-P