[Federal Register Volume 71, Number 82 (Friday, April 28, 2006)]
[Notices]
[Pages 25282-25284]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-6452]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision


Proposed Agency Information Collection Activities; Comment 
Request--Reporting for Changes to Federal Deposit Insurance Levels on 
the Thrift Financial Report: Schedule DI

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

ACTION: Notice and request for comment.

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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, 44 U.S.C. 3507. Today, the Office of Thrift Supervision within 
the Department of the Treasury solicits comments on proposed changes to 
the Thrift Financial Report (TFR): Schedule DI--Consolidated Deposit 
Information. The changes are in response to the increased levels of 
deposit insurance for retirement accounts provided by the Federal 
Deposit Insurance Corporation (``FDIC'') Board of Directors on March 
14, 2006, in final rules effective April 1, 2006, implementing certain 
provisions of the Federal Deposit Insurance Reform Act of 2005, 
(``Reform Act'') (Pub. L. 109-171).
    The proposed changes to the TFR are to become effective with the 
September 30, 2006, report.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which OTS should 
modify the proposed revisions prior to giving its final approval. OTS 
will then submit the revisions to the Office of Management and Budget 
(OMB) for review and approval.

DATES: Submit written comments on or before June 27, 2006.

ADDRESSES: Send comments to Information Collection Comments, Chief 
Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., 
Washington, DC 20552; send facsimile transmissions to (202) 906-6518; 
send e-mails to [email protected]; or hand deliver 
comments to the Guard's Desk, east lobby entrance, 1700 G Street, NW., 
on business days between 9 a.m. and 4 p.m. All comments should refer to 
``TFR Revisions--September 2006, OMB No. 1550-0023.'' 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 
public.info@ots.treas.gov">public.info@ots.treas.gov, or send a facsimile transmission to (202) 
906-7755.

FOR FURTHER INFORMATION CONTACT: You can access sample copies of the 
proposed September 2006 TFR form on OTS's Web site at http://www.ots.treas.gov or you may request them by electronic mail from 
[email protected]. You can request additional information 
about this proposed information collection from James Caton, Director, 
Financial Monitoring and Analysis Division, (202) 906-5680, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.

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.
    In this notice, OTS is soliciting comments concerning the following 
information collection.
    Title: Thrift Financial Report.
    OMB Number: 1550-0023.
    Form Number: OTS 1313.
    Abstract: All OTS-regulated savings associations must comply with 
the information collections described in this notice. OTS collects this 
information each calendar quarter, or less frequently if so stated. OTS 
uses this information to monitor the condition, performance, and risk 
profile of individual institutions and the savings association industry 
as a whole. Except for selected items, these information collections 
are not given confidential treatment.
    Current Action: On March 14, 2006, the FDIC Board of Directors 
approved final rules pursuant to the Reform Act that will raise the 
deposit insurance coverage on certain retirement accounts at a bank or 
savings institution to $250,000 from $100,000. The increase, which 
became effective on April 1, 2006, is the result of a new law boosting 
federal deposit insurance coverage for the first time in more than 25 
years. The basic insurance coverage for other deposit accounts, 
however, will remain at $100,000.
    Under the FDIC's new rules, up to $250,000 in deposit insurance 
will be provided to a depositor with money in a variety of retirement 
accounts, primarily traditional and Roth IRAs (Individual Retirement 
Accounts), at one insured institution. Other types of accounts included 
under the new deposit insurance limit are self-directed Keogh accounts, 
``457 Plan'' accounts for state government employees, and employer-
sponsored ``defined contribution plan'' accounts that are self-
directed, which are primarily 401(k) accounts. In general, self-
directed means the consumer chooses how and where the money is 
deposited.
    In addition, the IRAs and other retirement accounts that will be 
protected under the new rules to $250,000 are insured separately from 
other accounts at the same institution that will continue to be insured 
up to at least $100,000. Additional information about deposit insurance 
is available at the FDIC's Web site, http://www.fdic.gov.
    The new law also established a method by which the FDIC would 
consider an increase in the insurance

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limits on all deposit accounts (including retirement accounts) in the 
future, but only every five years starting in 2011. Any such increase 
would be based, in part, on inflation. Otherwise, accounts will 
continue to be insured as described above.
    The new law also merged the Bank Insurance Fund and the Savings 
Association Insurance Fund into a new Deposit Insurance Fund.
    As a result of these changes in deposit insurance for retirement 
accounts held at FDIC-insured depository institutions, OTS considered a 
range of potential information needs and identified those additions to 
the TFR that are believed to be most critical and relevant to OTS as it 
seeks to fulfill its supervisory responsibilities. At the same time, 
OTS identified certain existing TFR data that are no longer relevant or 
useful to warrant their continued collection. OTS believes that the 
reporting burden that would result from the addition to the TFR of the 
new items discussed in this proposal would be fully offset by the 
proposed elimination of a limited number of other TFR items, thereby 
resulting in no net increase in reporting burden. Nevertheless, when 
viewing these proposed revisions to the TFR within a larger context, 
they are intended to maintain the effectiveness of the on- and off-site 
supervision activities of the OTS, which should help to control the 
overall regulatory burden on institutions.
    OTS is requesting comment on the following proposed revisions to 
the TFR Schedule DI--Consolidated Deposit Information, which would take 
effect as of September 30, 2006. This proposal would eliminate four 
line items from the TFR, revise four existing items, and add four new 
data items to the TFR. For each of the proposed revisions of existing 
items or proposed new items, OTS is particularly interested in comments 
from institutions on whether the information that is proposed to be 
collected is readily available from existing institution records. OTS 
also invites comment on whether there are particular proposed revisions 
for which the new data would be of limited relevance for purposes of 
assessing risks in a specific segment of the savings association 
industry. In such cases, comments are requested on what criteria (e.g., 
an asset size threshold or some other measure) should be established 
for identifying the specific segment of the savings association 
industry that should be required to report the proposed new 
information. Finally, OTS seeks comment on whether, for a particular 
proposed revision, there is an alternative set of information that 
could satisfy OTS data needs in that area and be less burdensome for 
institutions to report than the new or revised items that OTS has 
proposed. OTS will consider all of the comments it receives as it 
formulates a final set of revisions to the TFR for implementation in 
September 2006.

A. Burden-Reducing Revisions

    1. Eliminating DI200, IRA/Keogh Accounts;
    2. Eliminating DI740, Total Deposits Purchased or Acquired from 
FDIC-Insured Institutions During Quarter;
    3. Eliminating DI750, Amount of Purchased or Acquired Deposits 
Reported In DI740 Attributable to a Secondary Fund; and
    4. Eliminating DI760, Total Deposits Sold or Transferred During 
Quarter.

B. Revisions of Existing Items

    1. Revising the instructions to DI120, Deposits with Balances of 
$100,000 or Less, to exclude retirement deposits covered under the new 
insurance limit;
    2. Revising the instructions to DI130, Deposits with Balances 
Greater Than $100,000, to exclude retirement deposits covered under the 
new insurance limit;
    3. Revising the instructions to DI150, Number of Deposit Accounts 
with Balances of $100,000 or Less, to exclude retirement accounts 
covered under the new insurance limit; and
    4. Revising the instructions to DI160, Number of Deposit Accounts 
with Balances Greater Than $100,000, to exclude retirement accounts 
covered under the new insurance limit.

C. New items

    1. Adding a line, DI170, Retirement Deposits with Balances of 
$250,000 or Less;
    2. Adding a line, DI175, Retirement Deposits with Balances Greater 
Than $250,000;
    3. Adding a line, DI180, Number of Retirement Deposit Accounts with 
Balances of $250,000 or Less; and
    4. Adding a line, DI185, Number of Retirement Deposit Accounts with 
Balances Greater Than $250,000.
    The specific wording of the captions for the new and revised TFR 
items discussed in this proposal and the numbering of these items in 
the report should be regarded as preliminary.

Discussion of Proposed Revisions

A. Burden-Reducing Revisions

1. IRA/Keogh Accounts Included in Deposits and Escrows
    OTS proposes to eliminate TFR line DI200, IRA/Keogh Accounts. The 
new lines proposed below will include the data now collected in line 
DI200.
    The following three line items proposed for elimination were 
reported for the first quarter in which an institution acquired 
``Oakar'' deposits, or deposits attributable to a secondary Federal 
deposit insurance fund, and in any quarter that an institution 
purchased or sold deposits.
2. Total Deposits Purchased or Acquired from FDIC-Insured Institutions 
During Quarter
    OTS proposes to eliminate TFR line DI740, Total Deposits Purchased 
or Acquired from FDIC-Insured Institutions During Quarter. Passage of 
the Reform Act renders this data collection obsolete. In the March 2006 
``Financial Reporting Bulletin'', OTS informed all thrifts to cease 
reporting these data effective with the March 31, 2006, TFR.
3. Amount of Purchased or Acquired Deposits Reported In DI740 
Attributable to a Secondary Fund
    OTS proposes to eliminate TFR line DI750, Amount of Purchased or 
Acquired Deposits Reported In DI740 Attributable to a Secondary Fund. 
Passage of the Reform Act renders this data collection obsolete. In the 
March 2006 ``Financial Reporting Bulletin'', OTS informed all thrifts 
to cease reporting these data effective with the March 31, 2006, TFR.
4. Total Deposits Sold or Transferred During Quarter
    OTS proposes to eliminate TFR line DI760, Total Deposits Sold or 
Transferred During Quarter. Passage of the Reform Act renders this data 
collection obsolete. In the March 2006 ``Financial Reporting 
Bulletin'', OTS informed all thrifts to cease reporting these data 
effective with the March 31, 2006, TFR.

B. Revisions of Existing Items

    The instructions for the following four TFR lines would be revised 
under this proposal.
1. Deposits with Balances of $100,000 or Less
    OTS proposes to revise the reporting instructions for line DI120, 
Deposits with Balances of $100,000 or Less. The instructions would be 
revised to exclude reporting of retirement accounts eligible under the 
higher deposit insurance limit.
2. Deposits with Balances Greater Than $100,000
    OTS proposes to revise the reporting instructions for line DI130, 
Deposits with Balances Greater Than $100,000.

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The instructions would be revised to exclude reporting of retirement 
accounts eligible under the higher deposit insurance limit.
3. Number of Deposit Accounts with Balances of $100,000 or Less
    OTS proposes to revise the reporting instructions for line DI150, 
Number of Deposit Accounts with Balances of $100,000 or Less. The 
instructions would be revised to exclude reporting of retirement 
accounts eligible under the higher deposit insurance limit.
4. DI160, Number of Deposit Accounts with Balances Greater Than 
$100,000
    OTS proposes to revise the reporting instructions for line DI160, 
Number of Deposit Accounts with Balances Greater Than $100,000. The 
instructions would be revised to exclude reporting of retirement 
accounts eligible under the higher deposit insurance limit.

C. New Items

    OTS proposes to add the following new line items.
1. Retirement Deposits with Balances of $250,000 or Less
    OTS proposes to add line DI170, Retirement Deposits with Balances 
of $250,000 or Less. Deposits in retirement accounts covered under the 
higher deposit insurance limit would be reported in this line.
2. Retirement Deposits with Balances Greater Than $250,000
    OTS proposes to add line DI175, Retirement Deposits with Balances 
Greater Than $250,000. Deposits in retirement accounts covered under 
the higher deposit insurance limit would be reported in this line.
3. Number of Retirement Deposit Accounts with Balances of $250,000 or 
Less
    OTS proposes to add line DI180, Number of Retirement Deposit 
Accounts with Balances of $250,000 or Less. Deposits in retirement 
accounts covered under the higher deposit insurance limit would be 
reported in this line.
4. Number of Retirement Deposit Accounts with Balances Greater Than 
$250,000
    OTS proposes to add line DI185, Number of Retirement Deposit 
Accounts with Balances Greater Than $250,000. Deposits in retirement 
accounts covered under the higher deposit insurance limit would be 
reported in this line.
    Statutory Requirement: 12 U.S.C. 1464(v) imposes reporting 
requirements for savings associations.
    Type of Review: Revision of currently approved collections.
    Affected Public: Business or For Profit.
    Estimated Number of Respondents and Recordkeepers: 858.
    Estimated Burden Hours per Respondent: 36.4 hours average for 
quarterly schedules and 1.9 hours average for schedules required only 
annually plus recordkeeping of an average of one hour per quarter.
    Estimated Frequency of Response: Quarterly.
    Estimated Total Annual Burden: 129,987 hours.
    OTS is proposing to revise the TFR, which is currently an approved 
collection of information. The effect of the proposed revisions to the 
TFR requirements on reporting burden will vary from institution to 
institution depending, in some cases, on the institution's asset size 
and, in other cases, on its involvement with the types of activities or 
transactions to which the proposed changes apply. OTS estimates that 
the implementation of these reporting revisions will not result in an 
increase in the current reporting burden imposed by the TFR on all 
savings associations.
    Request for Comments: As part of the approval process, we invite 
comments addressing one or more of the following points:
    a. Whether the proposed revisions to the TFR collections of 
information are necessary for the proper performance of the agency's 
functions, including whether the information has practical utility;
    b. The accuracy of the agency's estimate of the burden of the 
collection of information;
    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, the Internet, 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.
    OTS will summarize the comments received and include them in the 
request for OMB approval. All comments will become a matter of public 
record.
    Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of 
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
    OMB Reviewer: OTS Desk Officer, Fax: (202) 395-6974, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

    Dated: April 25, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division.
 [FR Doc. E6-6452 Filed 4-27-06; 8:45 am]
BILLING CODE 6720-01-P