[Federal Register Volume 68, Number 169 (Tuesday, September 2, 2003)]
[Notices]
[Pages 52268-52269]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-22246]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Submission for OMB Review; Comment Request--Thrift Financial 
Report and Monthly Cost of Funds

AGENCY: Office of Thrift Supervision (OTS), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The information collection requirement described below has 
been submitted to the Office of Management and Budget (OMB) for review, 
as required by the Paperwork Reduction Act of 1995.

DATES: Submit written comments on or before October 2, 2003.

ADDRESSES: Send comments, referring to the collection by title of the 
proposal or by OMB approval number, to OMB and OTS at these addresses: 
Joseph F. Lackey, Jr., Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10235, New Executive Office 
Building, Washington, DC 20503, or e-mail to [email protected]; and Information Collection Comments, Chief Counsel's 
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552, by fax to (202) 906-6518, or by e-mail to 
[email protected]. Commenters should be aware that 
there may be unpredictable and lengthy delays in postal deliveries to 
the Washington, D.C. area and may prefer to make their comments via 
facsimile, e-mail, or hand delivery. OTS will post comments and the 
related index on the OTS Internet Site at http://www.ots.treas.gov. In 
addition, interested persons may inspect comments at the Public Reading 
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.

FOR FURTHER INFORMATION CONTACT: To obtain a copy of the submission to 
OMB, contact Marilyn K. Burton at [email protected], (202) 
906-6467, or facsimile number (202) 906-6518, Regulations and 
Legislation Division, Chief Counsel's Office, Office of Thrift 
Supervision, 1700 G Street, NW., Washington, DC 20552. You can obtain a 
copy of the March 2004 Thrift Financial Report form from the OTS 
Internet Site at http://www.ots.treas.gov.

SUPPLEMENTARY INFORMATION: OTS may not conduct or sponsor an 
information collection, and respondents are not required to respond to 
an information collection, unless the information collection displays a 
currently valid OMB control number. As part of the approval process, we 
invite comments on the following information collection.
    Title of Proposal: Thrift Financial Report (TFR) and Monthly Cost 
of Funds
    OMB Number: 1550-0023.
    Form Number: OTS 1313.
    Description: OTS collects financial data from OTS-regulated savings 
associations and their subsidiaries and holding companies in order to 
assure their safety and soundness as depositories of the personal 
monies of the general public. OTS monitors the association's financial 
position and interest-rate risk so that adverse conditions can be 
identified promptly.
    Discussion of Comments and Requested Form Changes: After publishing 
in the Federal Register on January 23, 2003 (68 FR 3318) notice of its 
intent to make certain changes to the Thrift Financial Report (TFR) 
effective March 2004 and reviewing and analyzing all comments, OTS has 
made the following changes to its information collection request to 
OMB:
    Acceleration of Due Dates: Because the majority of the commenters 
opposed accelerating the filing due date for the TFR and since OTS does 
not want to impose additional reporting burden on the industry, OTS 
will not change the TFR filing due date. OTS will retain the same 
filing due date that the other banking agencies have for the Call 
Report, which is 30 days after the end of the quarter. Additionally, 
the filing due date for Schedules HC (Holding Company) and CMR 
(Consolidated Maturity/Rate) will remain at 45 days after the close of 
the quarter.
    Average Balance Sheet Data: OTS will collect the average balance 
sheet data proposed, but at the request of several commenters, OTS will 
allow all institutions regardless of their asset size to use month-end 
data in their calculations, rather than requiring the use of daily or 
weekly balances. The averages will be included in Schedule SI and will 
be publicly available.
    Transactions with Affiliates: Due to public response, OTS will 
combine its proposed items into two line items: (1) Outstanding 
balances of covered transactions with affiliates that are subject to 
quantitative limits (Transactions under section 23A of the Federal 
Reserve Act) and (2) Activity during the quarter of other covered 
transactions with affiliates, not subject to quantitative limits 
(Transactions under section 23B of the Federal Reserve Act). This 
information will be

[[Page 52269]]

confidential and will not be released to the public. These two data 
items will be included on Schedule SI and will be due 30 days after the 
close of the quarter.
    Holding Company Data: OTS will expand the holding company data 
collected in Schedule HC as proposed. Clarifications will be made to 
the TFR instructions to address comments regarding the scope of some of 
the supplemental questions. For instance, OTS has narrowed which 
subsidiaries must be included to those determined to be significant 
based on consolidated assets, consolidated gross revenues, or the 
volume of affiliate transactions. Additionally, effective with 2004 
reporting, OTS will revise Form H-b(11) to reduce duplicative reporting 
requirements.
    Federal Home Loan Bank Dividends: As proposed, OTS will add a line 
in Schedule SO (Statement of Operations) for Federal Home Loan Bank 
dividend income. As requested by commenters, OTS will include FHLB 
dividends in net interest income, conforming to the presentation in the 
commercial bank Call Report. In Schedule SO (Statement of Operations), 
OTS will add a new section following Interest Income for Dividend 
Income on Equity Investments Not Subject to FASB Statement No. 115, 
which will include Federal Home Loan Bank dividend income. This new 
section will be included in net interest income. OTS will also revise 
Schedule SC (Statement of Condition) to include Federal Home Loan Bank 
stock under the section for equity investments not subject to FASB 
Statement No. 115.
    Refinancing Loans: OTS will change the definition of CF360, 
Refinancing Loans, to include any mortgage loan that is not a purchase 
money mortgage.
    Schedule CSS (Subsidiary Schedule): In response to comments, OTS 
will leave the collection frequency of Schedule CSS as annual and, 
additionally, will require reporting only of those subsidiaries that 
meet any one of the following criteria: (1) The gross revenue of the 
consolidated subsidiary is 5% or more of the gross revenue of the 
consolidated thrift; or (2) the total assets of the consolidated 
subsidiary are 5% or more of the consolidated thrift assets; or (3) the 
consolidated subsidiary is regulated by a state insurance department, 
the Securities and Exchange Commission, or the Commodity Futures 
Trading Commission; or (4) the Regional Director deems there is a 
supervisory reason for requiring the reporting of the subsidiary. 
Institutions may continue to report subsidiaries that are not required 
to be reported if they choose.
    All Other Revisions: OTS will adopt as proposed the remaining 
changes to the 2004 TFR published in the Federal Register on January 
23, 2003 (68 FR 3318).
    Type of Review: Revision of a previously approved collection.
    Affected Public: Savings Associations.
    Estimated Number of Respondents: 925.
    Estimated Frequency of Response: Variable depending on the 
schedule--Monthly, Quarterly, or Annually.
    Estimated Burden Hours per Response: 35.42 hours average for 
quarterly schedules, 2.5 hours average for schedules required annually, 
and 0.5 hours for the monthly schedule, plus recordkeeping of an 
average of one hour per quarter.
    Estimated Total Burden: 142,608 hours. Because some of these 
proposed changes will not affect all savings associations that file the 
TFR, the burden hours reflected above may vary from institution to 
institution.
    Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
    OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

    Dated: August 26, 2003.
James E. Gilleran,
Director, Office of Thrift Supervision.
[FR Doc. 03-22246 Filed 8-29-03; 8:45 am]
BILLING CODE 6720-01-P