[Federal Register Volume 76, Number 26 (Tuesday, February 8, 2011)]
[Notices]
[Pages 7082-7087]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-2779]
[[Page 7081]]
Vol. 76
Tuesday,
No. 26
February 8, 2011
Part V
Department of the Treasury
Office of the Comptroller of the Currency
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Federal Reserve Board
Federal Deposit Insurance Corporation
Department of the Treasury
Office of Thrift Supervision
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Proposed Agency Information Collection Activities; Comment Requests;
Intent to Discontinue and Request for Comment; Notice of Intent to
Require Reporting Forms for Savings and Loan Holding Companies; Notices
Federal Register / Vol. 76 , No. 26 / Tuesday, February 8, 2011 /
Notices
[[Page 7082]]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE BOARD
FEDERAL DEPOSIT INSURANCE CORPORATION
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Proposed Agency Information Collection Activities; Comment
Request
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); Federal
Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision
(OTS), Treasury.
ACTION: Joint notice and request for comment.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act (PRA) of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC,
and the OTS (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 Office of Management and Budget
(OMB) control number. The agencies, under the auspices of the Federal
Financial Institutions Examination Council, have approved the
publication for public comment of a proposal to require savings
associations currently filing the Thrift Financial Report (TFR) to
convert to filing the Consolidated Reports of Condition and Income
(Call Report) beginning with the reporting period ending on March 31,
2012.
In addition, the Board is publishing a notice of its intent to
require savings and loan holding companies (SLHCs) to submit to the
Board all regulatory reports that are currently required to be filed by
bank holding companies (BHCs), beginning with the reporting period
ending on March 31, 2012. See the Board's separate Notice of Intent for
its plans regarding SLHC reporting in today's Federal Register.
The TFR and the Call Report are currently approved collections of
information. At the end of the comment period, the comments and
recommendations received will be analyzed to determine the extent to
which the agencies should modify the proposal for savings associations
to convert to filing the Call Report prior to giving final approval.
The agencies will then submit the proposal to OMB for review and
approval.
DATES: Comments must be submitted on or before April 11, 2011.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments, which should refer to the OMB
control number(s), will be shared among the agencies.
OCC: You should direct all written comments to: Communications
Division, Office of the Comptroller of the Currency, Mailstop 2-3,
Attention: 1557-0081, 250 E Street, SW., Washington, DC 20219. In
addition, comments may be sent by fax to (202) 874-5274, or by
electronic mail to [email protected]. You may personally
inspect and photocopy comments at the OCC, 250 E Street, SW.,
Washington, DC 20219. For security reasons, the OCC requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 874-4700. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
Board: You may submit comments, which should refer to
``Consolidated Reports of Condition and Income (FFIEC 031 and 041),''
by any of the following methods:
Agency Web Site: http://www.federalreserve.gov. Follow the
instructions for submitting comments on the http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected]. Include
reporting form number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons. Accordingly, your comments will
not be edited to remove any identifying or contact information. Public
comments may also be viewed electronically or in paper in Room MP-500
of the Board's Martin Building (20th and C Streets, NW.) between 9 a.m.
and 5 p.m. on weekdays.
FDIC: You may submit comments, which should refer to ``Consolidated
Reports of Condition and Income, 3064-0052,'' by any of the following
methods:
Agency Web Site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow the instructions for submitting comments
on the FDIC Web site.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected]. Include ``Consolidated Reports
of Condition and Income, 3064-0052'' in the subject line of the
message.
Mail: Gary A. Kuiper, (202) 898-3877, Counsel, Attn:
Comments, Room F-1072, Federal Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
Hand Delivery: Comments may be hand delivered to the guard
station at the rear of the 550 17th Street Building (located on F
Street) on business days between 7 a.m. and 5 p.m.
Public Inspection: All comments received will be posted without
change to http://www.fdic.gov/regulations/laws/federal/propose.html
including any personal information provided. Comments may be inspected
at the FDIC Public Information Center, Room E-1002, 3501 Fairfax Drive,
Arlington, VA 22226, between 9 a.m. and 5 p.m. on business days.
OTS: You may submit comments, identified by ``1550-0023 (TFR:
Conversion to Call Report),'' by any of the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail address: [email protected].
Please include ``1550-0023 (TFR: Conversion to Call Report)'' in the
subject line of the message and include your name and telephone number
in the message.
Fax: (202) 906-6518.
Mail: Information Collection Comments, Chief Counsel's
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington,
DC 20552, Attention: ``1550-0023 (TFR: Conversion to Call Report).''
Hand Delivery/Courier: Guard's Desk, East Lobby Entrance,
1700 G Street, NW., from 9 a.m. to 4 p.m. on business days, Attention:
Information Collection Comments, Chief Counsel's Office, Attention:
``1550-0023 (TFR: Conversion to Call Report).''
Instructions: All submissions received must include the agency name
and OMB Control Number for this information
[[Page 7083]]
collection. All comments received will be posted without change to the
OTS Internet Site at http://www.ots.treas.gov/pagehtml.cfm?catNumber=67&an=1, including any personal information
provided.
Docket: For access to the docket to read background documents or
comments received, go to http://www.ots.treas.gov/pagehtml.cfm?catNumber=67&an=1. In addition, you may inspect comments
at the Public Reading Room, 1700 G Street, NW., by appointment. To make
an appointment for access, 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. (Prior notice identifying the materials you will be
requesting will assist us in serving you.) The OTS schedules
appointments on business days between 10 a.m. and 4 p.m. In most cases,
appointments will be available the next business day following the date
we receive a request.
Additionally, commenters may send a copy of their comments to the
OMB desk officer for the agencies by mail to the Office of Information
and Regulatory Affairs, U.S. Office of Management and Budget, New
Executive Office Building, Room 10235, 725 17th Street, NW.,
Washington, DC 20503, or by fax to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: For further information about the
proposal discussed in this notice, please contact any of the agency
clearance officers whose names appear below.
In addition, copies of the reporting forms and instructions for the
FFIEC 031, Consolidated Reports of Condition and Income for a Bank with
Domestic and Foreign Offices, can be obtained at the FFIEC's Web site
(http://www.ffiec.gov/forms031.htm).
Copies of the reporting forms and instructions for the FFIEC 041,
Consolidated Reports of Condition and Income for a Bank with Domestic
Offices Only, can be obtained at the FFIEC's Web site (http://www.ffiec.gov/forms041.htm).
Copies of the reporting forms and instructions for the TFR can be
obtained at the OTS's Web site (http://www.ots.treas.gov/?p=ThriftFinancialReports).
OCC: Mary Gottlieb, OCC Clearance Officer, (202) 874-5090,
Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.
Board: Cynthia Ayouch, Acting 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. Telecommunications Device for the Deaf (TDD)
users may call (202) 263-4869.
FDIC: Gary A. Kuiper, Counsel, (202) 898-3877, Legal Division,
Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429.
OTS: Ira L. Mills, OTS Clearance Officer, at
[email protected], (202) 906-6531, 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.
SUPPLEMENTARY INFORMATION: The agencies are proposing to revise the
reporting panel for the Call Report and to cease collection of data
through all schedules of the TFR beginning with the reporting period
ending on March 31, 2012. The Call Report is currently an approved
collection of information for the OCC, the Board, and the FDIC. The TFR
is currently an approved collection of information for the OTS.
1. Report Title: Consolidated Reports of Condition and Income (Call
Report).
Form Number: Call Report: FFIEC 031 (for banks with domestic and
foreign offices) and FFIEC 041 (for banks with domestic offices only).
Frequency of Response: Quarterly.
Affected Public: Business or other for-profit.
OCC
OMB Number: 1557-0081.
Current
Estimated Number of Respondents: 1,491 national banks.
Estimated Time per Response: 53.25 burden hours.
Estimated Total Annual Burden: 317,583 burden hours.
Proposed
Estimated Number of Respondents: 2,171 (1,491 national banks and
680 Federal savings associations).
Estimated Time per Response: National banks: 53.25 burden hours per
quarter to file.
Federal savings associations: 53.25 burden hours per quarter to
file and 188 burden hours for the first year to convert systems and
conduct training.
Estimated Total Annual Burden: National banks: 317,583 burden hours
to file.
Federal savings associations: 144,840 burden hours to file; 127,840
burden hours for the first year to convert systems and conduct
training.
Total: 590,263 burden hours.
Board
OMB Number: 7100-0036.
Current
Estimated Number of Respondents: 841 State member banks.
Estimated Time per Response: 55.19 burden hours.
Estimated Total Annual Burden: 185,659 burden hours.
Proposed: No change.
FDIC
OMB Number: 3064-0052.
Current
Estimated Number of Respondents: 4,713 insured State nonmember
banks.
Estimated Time per Response: 40.42 burden hours.
Estimated Total Annual Burden: 761,998 burden hours.
Proposed
Estimated Number of Respondents: 4,774 (4,713 insured State
nonmember banks and 61 State savings associations).
Estimated Time per Response: State nonmember banks: 40.42 burden
hours per quarter to file.
State savings associations: 40.42 burden hours per quarter to file
and 188 burden hours for the first year to convert systems and conduct
training.
Estimated Total Annual Burden: State nonmember banks: 761,998
burden hours to file.
State savings associations: 9,862 burden hours to file; 11,468
burden hours for the first year to convert systems and conduct
training.
Total: 783,328 burden hours.
The estimated time per response for the Call Report is an average
that varies by agency because of differences in the composition of the
institutions under each agency's supervision (e.g., size distribution
of institutions, types of activities in which they are engaged, and
existence of foreign offices). The average reporting burden for the
Call Report is estimated to range from 17 to 665 hours per quarter,
depending on an individual institution's circumstances.
2. Report Title: Thrift Financial Report (TFR).
Form Number: OTS 1313 (for savings associations).
Frequency of Response: Quarterly; Annually.
Affected Public: Business or other for-profit.
OTS
OMB Number: 1550-0023.
Current
Estimated Number of Respondents: 741 savings associations.
Estimated Time per Response: 37.5 burden hours.
[[Page 7084]]
Estimated Total Annual Burden: 111,150 burden hours.
Proposed
Estimated Number of Respondents: Not applicable.
Estimated Time per Response: Not applicable.
Estimated Total Annual Burden: Not applicable.
The burden estimates in this notice above are for the quarterly
filings of the TFR and the Call Report. In addition to those filings,
savings associations would incur an initial burden of converting
systems and training staff to prepare and file the Call Report in place
of the TFR as proposed. Accordingly, the burden estimates in this
notice above for savings associations also include the time to convert
to filing the Call Report, including necessary systems changes and
training staff on Call Report preparation and filing, which is
estimated to average 188 hours.
As a general statement, larger institutions and those with more
complex operations would expend a greater number of hours than smaller
institutions and those with less complex operations. An institution's
use of service providers for the information and accounting support of
key functions, such as credit processing, transaction processing,
deposit and customer information, general ledger, and reporting should
result in lower burden hours for converting to the Call Report.
Institutions with staff having experience in preparing and filing the
Call Report should incur lower initial burden hours for converting to
the Call Report from the TFR.
A summary of the estimated initial burden hours for savings
associations regarding the proposed conversion to the Call Report from
the TFR is presented below.
Estimated Initial Burden of Proposal
Estimated Number of Institutions: 741 savings associations.
Estimated Time per Institution: 188 burden hours.
Estimated Total Burden: 139,308 burden hours.
General Description of Reports
These information collections are mandatory: 12 U.S.C. 161 (for
national banks), 12 U.S.C. 324 (for State member banks), 12 U.S.C. 1817
(for insured State nonmember commercial and savings banks), and 12
U.S.C. 1464 (for savings associations). At present, except for selected
data items, the Call Report and TFR are not given confidential
treatment.
Abstract
Institutions submit Call Report and TFR data to the agencies each
quarter for the agencies' use in monitoring the condition, performance,
and risk profile of individual institutions and the bank and savings
association industries as a whole. Call Report and TFR data provide the
most current statistical data available for evaluating institutions'
corporate applications, for identifying areas of focus for both on-site
and off-site examinations, and for monetary and other public policy
purposes. The agencies use Call Report and TFR data in evaluating
interstate merger and acquisition applications to determine, as
required by law, whether the resulting institution would control more
than ten percent of the total amount of deposits of insured depository
institutions in the United States. Call Report and TFR data also are
used to calculate all institutions' deposit insurance and Financing
Corporation assessments, and national banks' and savings associations'
assessments.
Effect of Recent Legislation
The Dodd-Frank Wall Street Reform and Consumer Protection Act,
Public Law 111-203 (the Dodd-Frank Act) was enacted into law on July
21, 2010. Title III of the Dodd-Frank Act abolishes the OTS, provides
for its integration with the OCC effective as of July 21, 2011 (the
``transfer date''), and transfers the OTS's functions to the OCC, the
Board, and the FDIC. Under Title III of the Dodd-Frank Act, all
functions of the OTS relating to Federal savings associations and
rulemaking authority for all savings associations are transferred to
the OCC. All functions of the OTS relating to State-chartered savings
associations (other than rulemaking) are transferred to the FDIC. All
functions of the OTS relating to supervision of SLHCs (including
rulemaking) are transferred to the Board.
After careful review, the agencies believe that having common
financial reports and reporting processes among all FDIC-insured
entities would be more efficient and would lead to more uniform
comparisons of financial condition, performance, and trends among
regulated institutions. For these reasons, the OTS is proposing to
eliminate the TFR, and the agencies are proposing to require savings
associations to adopt the reporting routines and processes required of
all other FDIC-insured banks and savings institutions.
Section 5(v)(1) of the Home Owners' Loan Act (12 U.S.C. 1464(v)(1))
does not contain a specific requirement for collection of financial
information from savings associations in the TFR format. Rather, the
statute provides broad authority for the OTS to determine the
requirements of periodic reports and information needs. Therefore,
there is no statutory impediment to requiring savings associations to
convert from the TFR to the Call Report.
Current Actions
I. Overview
The agencies are proposing to implement changes to savings
associations' data reporting requirements beginning with the reporting
period ending on March 31, 2012. These changes, which are discussed in
detail in Section II of this notice, are intended to provide data
needed for reasons of safety and soundness or other public purposes.
The proposed changes would require savings associations to cease filing
the TFR and commence filing the Call Report beginning on the March 31,
2012, report date.
II. Proposal To Require Savings Associations To File Call Report
A. Background
In making this proposal, the agencies carefully reviewed the
comments received by OTS in its 2007 Advance Notice of Proposed
Rulemaking (72 FR 64003, November 14, 2007) \1\ regarding a possible
conversion to the Call Report. In that request for information, OTS
asked commenters what information they needed to make an informed
decision about the feasibility of converting to the Call Report.
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\1\ Link to November 14, 2007 proposal published at 72 FR 64003:
http://www.ots.treas.gov/_files/commenttopics/8f697712-0718-411f-a004-470f790edf80.pdf.
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Though the majority of commenters supported converting to the Call
Report, OTS decided in early 2008 not to require savings associations
to convert to the Call Report. A key factor in that decision was the
weakening economy and the resulting increases in loan delinquencies.
Given that environment, a decision was made to let savings associations
focus on asset quality issues rather than diverting resources and
attention to converting reporting systems.
Though the U.S. economy has not yet fully recovered from the recent
severe recession, it is more stable than it was in early 2008. Further,
the OTS-regulated savings association (or thrift) industry also has
stabilized since the onset of the recession. The thrift industry posted
positive earnings in
[[Page 7085]]
each of the five most recent quarters \2\ after experiencing net losses
from fourth quarter 2007 through second quarter 2009. In addition, loss
allowances and capital have been bolstered to record or near record
levels. Moreover, the steep increases in thrifts' troubled assets--
loans 90 or more days delinquent or in nonaccrual status plus
repossessed assets--which occurred during the early part of the
recession, have abated. For example, the industry's ratio of troubled
assets-to-total assets increased from 0.70 percent at the end of 2006
to 3.65 percent at the end of third quarter 2009. The troubled asset
ratio has eased slightly since that time. At the end of the third
quarter of 2010, the thrift industry's troubled assets ratio stood at
3.45 percent. The agencies believe the economic environment and thrift
industry financial condition are now more favorable to pursue a
conversion to the Call Report.
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\2\ Through the third quarter 2010.
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B. Efforts To Reduce Burden
The commenters not supporting the conversion to the Call Report in
the 2007 proposal typically voiced concern over burden and, more
specifically the initial burden of converting to a different reporting
system. The agencies recognize that there will be initial burden in
converting to the Call Report and have estimated this burden as
discussed above in this notice. However, the agencies believe there
will be longer-term efficiencies to having a common financial report
among all FDIC-insured entities. For savings associations, these
efficiencies include the availability of more staff across the
financial institution industry with experience in Call Report
preparation than with TFR preparation, more training opportunities
available to the financial institution industry for Call Report
preparation, and more integrated general ledger-to-Call Report
processes and software available to the institutions.
Efficiencies of the proposed report conversion also would extend to
the agencies, which would have one set of financial information from
which to evaluate and monitor the financial condition and operations of
all FDIC-insured banks and savings associations.
To help reduce the burden with converting reports, the proposal
would:
1. Curtail all proposed changes to the TFR for 2011 that would
increase the differences between the TFR and the Call Report. Proposed
changes to the TFR for 2011, announced on October 5, 2010 (75 FR
61563),\3\ included changes that parallel proposed changes to the Call
Report as well as changes unique to the TFR. Proposed changes unique to
the TFR included proposed data collections for classified assets by
major loan category and loan loss allowances by major loan category.
All proposed TFR changes that increase differences with the Call Report
would be curtailed in an effort to reduce the initial burden of
converting to the Call Report. The OTS also would announce the decision
to curtail these proposed changes in its response to comments received
regarding the October 5, 2010 notice;
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\3\ Link to October 5, 2010 proposal published at 75 FR 61563:
http://edocket.access.gpo.gov/2010/pdf/2010-24883.pdf.
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2. Require no additional savings association-only schedules for
inclusion in the Call Report \4\ upon initial migration to the Call
Report. The 2007 proposal to convert from the TFR to the Call Report
mentioned that certain savings association-only schedules may have been
required in addition to the Call Report filed by all other FDIC-insured
institutions. In general, these savings association-only schedules
would have sought to capture information collected in the TFR but not
in the Call Report. Such schedules included ones for more information
on mortgage loans, consumer loans, and classified assets. It was
envisioned in 2007 that savings association-only schedules would be
added to the existing Call Report, filed through the Call Report filing
process, but completed only by OTS-regulated savings associations. The
addition of savings association-only schedules to the Call Report is no
longer being sought or proposed;
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\4\ The 2007 proposal kept intact the filing of Schedules CMR
and HC through existing OTS filing processes. All other TFR
Schedules would have been eliminated.
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3. Provide a ``mapping'' of TFR items to Call Report items. This
mapping will be available on the OTS Web site at http://www.ots.treas.gov/?p=ThriftFinancialReports under Thrift Financial
Report--TFR-to-Call Report Mapping on or before February 15, 2011. A
link to this same mapping also will be made available on the FFIEC Web
site under Call Report Forms at http://www.ffiec.gov/ffiec_report_forms.htm. Please note the findings from this mapping exercise may
result in future changes to the Call Report. Any changes to the Call
Report will be announced in a separate notice on which public comment
will be requested;
4. Make the filing of TFR Schedule CMR during 2011 optional for all
OTS-regulated entities that have a ``1'' or ``2'' rating for their most
recent composite rating under the Uniform Financial Institutions Rating
System (UFIRS), have a ``1'' or ``2'' rating for their most recent
UFIRS Sensitivity component rating, and have the means to adequately
monitor and assess interest rate risk through internal processes
pursuant to current regulatory guidance and expectations. Savings
associations that decide to forego the filing of Schedule CMR under
this provision would be required to notify their applicable regional
office prior to the Schedule CMR filing deadline. The data collected on
Schedule CMR currently are used as input for the OTS's Interest Rate
Risk Model (IRR Model). The results of the IRR Model are used by
examiners and supervisory staff as an aid in monitoring and gauging
savings associations' interest rate risk. In addition, the OTS
currently provides each institution with its own IRR Model results to
aid the institution's own interest rate risk management; and
5. Propose to cease collection of Schedule CMR beginning with the
March 2012 reporting period. In making this decision, the agencies
again reviewed the comments received by the OTS regarding its 2007
proposal to convert from the TFR to the Call Report. As previously
mentioned, the majority of commenters supported the conversion. And
although eliminating Schedule CMR was not proposed by the OTS in its
2007 proposal, several commenters recommended Schedule CMR should be
eliminated. Those commenters typically mentioned that Schedule CMR was
burdensome and that requiring savings associations to continue to file
Schedule CMR in addition to the Call Report would place more burden on
them than on comparably sized commercial banks and State-chartered
savings banks. Moreover, those commenters also mentioned they already
had their own means to gauge and monitor interest rate risk, and
therefore their receipt of IRR Model results could be eliminated with
no disruption to their management of interest rate risk.
On the other hand, some commenters indicated the IRR Model results
were useful, and they relied on the IRR Model results to help with
managing their interest rate risk.
The agencies carefully weighed these comments before making the
decision to propose eliminating Schedule CMR beginning with the March
2012 reporting period. The agencies believe it is more efficient, for
institutions filing the required reports and the agencies as well, to
have a common financial report
[[Page 7086]]
required of all FDIC-insured banks and savings associations. In
addition, the agencies believe it is more efficient to have a common
set of policies among all FDIC-insured entities regarding the
management of interest rate risk. In this regard, beginning in 2012
savings associations would be expected to follow the same general
supervisory policies and guidelines regarding sound practices for
managing interest rate risk as required of commercial banks and State-
chartered savings banks.\5\ The Web links for the general interest rate
risk management policies and guidelines of the agencies (other than the
OTS) are as follows:
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\5\ Other specific changes to existing savings association
policies, procedures, rules, and regulations are expected to be made
through separate notices--pursuant to the Paperwork Reduction Act or
the Administrative Procedure Act--depending on the nature of the
proposal.
http://www.ffiec.gov/press/pr042398.htm
http://www.fdic.gov/news/news/press/2010/pr1002.pdf
http://www.fdic.gov/regulations/laws/rules/5000-4200.html
http://www.fdic.gov/regulations/safety/manual/section7-1_toc.html
http://www.federalreserve.gov/boarddocs/SRLETTERS/1996/sr9613.htm
http://www.federalreserve.gov/BoardDocs/SupManual/trading/200901/3000p2.pdf
http://www.occ.gov/news-issuances/bulletins/2010/bulletin-2010-1a.pdf
http://www.occ.gov/news-issuances/bulletins/1998/bulletin-1998-20.html
http://www.occ.gov/static/publications/handbook/irr.pdf
C. Report Preparation Training
Converting to the Call Report likely would require OTS-regulated
savings associations to retrain report preparation staff. Training on
the completion and preparation of these reports is offered on a regular
basis by independent trade and professional organizations.
As stated above, the agencies will provide a ``mapping'' of TFR
items to Call Report items to help reduce the initial burden of report
conversion. There are some significant differences between the Call
Report and TFR, examples of which are described below. Given these and
other reporting differences, savings associations are encouraged to
familiarize themselves with the Call Report instructions and seek
training opportunities for report preparation staff as soon as
possible. Web links to the Call Report forms and instructions are
provided above in this notice.
Significant reporting differences between the TFR and the Call
Report include the following:
1. In the TFR, data are reported for the quarter ending on the
report date in Schedule SO--Consolidated Statement of Operations, the
Summary of Changes in Savings Association Equity Capital in Schedule
SI--Supplemental Information, Schedule VA--Consolidated Valuation
Allowances and Related Data, and Schedule CF--Consolidated Cash Flow
Information. In the comparable schedules of the Call Report, data are
reported on a calendar year-to-date basis, regardless of an
institution's fiscal year-end.
2. Previously submitted TFRs can be amended only for 135 days after
the end of the quarter for which an amended report is being filed
electronically. In general, amendments to previously submitted Call
Reports can be filed for up to five years after the report date,
including amendments required by an institution's primary Federal bank
supervisory authority when a report as previously submitted contains
significant or material errors.
3. In the Average Balance Sheet Data section of TFR Schedule SI--
Supplemental Information, savings associations report average balance
sheet data for the quarter that, at a minimum, must be computed based
on balances at month-end. However, savings associations may choose to
compute these data based on other than month-end balances, such as
daily or weekly balances. In Call Report Schedule RC-K--Quarterly
Averages, institutions must report averages on a daily or weekly basis
only.
4. Savings associations can report specific valuation allowances in
TFR Schedule VA-Consolidated Valuation Allowances and Related Data.
Comparable reporting is not available in the Call Report. For example,
for Call Report purposes, institutions take and report charge-offs on
individual loans rather than creating specific valuation allowances.
D. Timing
Savings associations currently regulated by the OTS would begin
filing the Call Report as of the March 31, 2012 report date. Savings
associations would file the same Call Report required of commercial
banks and State-chartered savings banks not currently regulated by the
OTS. Web links to the Call Report forms and instructions are provided
above in this notice.
Savings associations will continue to submit TFRs, including
Schedules HC and CMR (except as discussed above for Schedule CMR),
through the December 31, 2011 reporting period, using the processing,
editing, and validating system currently in use, which is the
Electronic Filing System (EFS) established by the OTS. In addition,
SLHCs would continue to submit all required regulatory reports under
the current SLHC reporting scheme (including the submission of the OTS
Form H-(b)11 and Schedule HC HOLA 10(l)) utilizing the existing OTS
reporting processes through the December 31, 2011 reporting period.
Also beginning with the first quarter 2012 reporting period,
according to plans, SLHCs currently regulated by OTS would start filing
the same regulatory reports required to be filed by BHCs regulated by
the Board. See the Board's separate Notice of Intent in today's Federal
Register for more details.
E. Filing Process
OTS-regulated savings associations use OTS-developed proprietary
software to file TFRs. Call Reports for other FDIC-insured institutions
are filed one of two ways, both using institution-acquired software.
These two filing processes are described below:
1. An institution may use computer software to prepare its report
and then submit the report directly to the FFIEC's Central Data
Repository (CDR), an Internet-based system for data collection (https://cdr.ffiec.gov/cdr/); or
2. The institution may complete its reports in paper form and
arrange with a software vendor or another party to convert its paper
reports into an electronic format that can be processed by the CDR. The
software vendor or another party then must electronically submit the
data file containing the bank's Call Report to the CDR.
A list of vendors offering software meeting the technical
specifications for producing Call Report data files that are able to be
processed by the CDR can be found on the last page of the FFIEC's most
recent quarterly Call Report Supplemental Instructions found at http://www.ffiec.gov/ffiec_report_forms.htm. In addition, individual
institutions may choose to develop their own Call Report preparation
software that meets these technical specifications. The agencies will
provide specific information on the requirements to those institutions
that are interested in pursuing this option.
Request for Comment
The agencies gave considerable thought to the timing of this
proposal and reviewed the comments received by the OTS from the 2007
proposal. Commenters responding to that
[[Page 7087]]
proposal indicated a TFR-to-Call Report conversion would take three to
six quarters. Hence, the agencies believe the proposed implementation
of these reporting changes in the reports for the first quarter of 2012
would provide sufficient lead time and is therefore reasonable.
Commenters who disagree with this assessment should specify why they
believe they cannot meet that date and explain the time frame needed to
comply with the proposed conversion.
Comments are invited on:
(a) Whether the proposed revisions to the collections of
information that are the subject of this notice 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 as they are proposed to be revised, 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.
In addition to the above, public comment is requested on all
aspects of this joint notice. Comments submitted in response to this
joint notice will be shared among the agencies. All comments will
become a matter of public record.
Dated: January 19, 2011.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency.
Board of Governors of the Federal Reserve System, February 2,
2011.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC this 24th day of January, 2011.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
Dated: February 2, 2011.
Ira L. Mills,
Paperwork Clearance Officer, Office of Chief Counsel, Office of Thrift
Supervision.
[FR Doc. 2011-2779 Filed 2-7-11; 8:45 am]
BILLING CODE 6720-01-P; 6714-01-P; 6210-01-P; 4810-33-P