[Federal Register Volume 85, Number 230 (Monday, November 30, 2020)]
[Notices]
[Pages 76658-76662]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26388]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


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); and Federal 
Deposit Insurance Corporation (FDIC).

ACTION: Joint notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may 
not conduct or sponsor, and the respondent is not required to respond

[[Page 76659]]

to, an information collection unless it displays a currently valid 
Office of Management and Budget (OMB) control number. The Federal 
Financial Institutions Examination Council (FFIEC), of which the 
agencies are members, has approved the agencies' publication for public 
comment of a proposal to revise and extend the Consolidated Reports of 
Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 
051), which are currently approved collections of information. The 
agencies are requesting comment on an adjustment to the measurement 
date for certain total asset thresholds that trigger additional 
reporting requirements in the Call Reports for report dates in 2021 
only due to institution asset growth in 2020 related to participation 
in various coronavirus disease 2019 (COVID-19) related stimulus 
activities.

DATES: Comments must be submitted on or before January 29, 2021.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the 
``Call Report Reporting Revisions,'' will be shared among the agencies.
    OCC: You may submit comments, which should refer to ``Call Report 
Reporting Revisions,'' by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Office of the Comptroller of 
the Currency, Attention: 1557-0081, 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0081'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.
    You may review comments and other related materials that pertain to 
this information collection beginning on the date of publication of the 
second notice for this collection by the following method:
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0081.'' Upon finding the appropriate information 
collection, click on the related ``ICR Reference Number.'' On the next 
screen, select ``View Supporting Statement and Other Documents'' and 
then click on the link to any comment listed at the bottom of the 
screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
    Board: You may submit comments, which should refer to ``Call Report 
Reporting Revisions,'' by any of the following methods:
     Agency website: http://www.federalreserve.gov. Follow the 
instructions for submitting comments at: http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
     Email: [email protected]. Include ``Call 
Report Reporting Revisions'' in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available on the Board's website at https://www.federalreserve.gov/apps/foia/proposedregs.aspx as submitted, 
unless modified for technical reasons. Accordingly, your comments will 
not be edited to remove any identifying or contact information.
    FDIC: You may submit comments, which should refer to ``Call Report 
Reporting Revisions,'' by any of the following methods:
     Agency Website: https://www.fdic.gov/regulations/laws/federal/. Follow the instructions for submitting comments on the FDIC's 
website.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Email: [email protected]. Include ``Call Report Reporting 
Revisions'' in the subject line of the message.
     Mail: Manuel E. Cabeza, Counsel, Attn: Comments, Room MB-
3128, 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 7:00 a.m. and 5:00 p.m.
     Public Inspection: All comments received will be posted 
without change to https://www.fdic.gov/regulations/laws/federal/ 
including any personal information provided. Paper copies of public 
comments may be requested from the FDIC Public Information Center by 
telephone at (877) 275-3342 or (703) 562-2200.
    Additionally, commenters may send a copy of their comments to the 
OMB desk officers 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; by fax to (202) 395-6974; or by email to 
[email protected].

FOR FURTHER INFORMATION CONTACT: For further information about the 
proposed revisions to the information collections discussed in this 
notice, please contact any of the agency staff whose names appear 
below. In addition, copies of the report forms for the Call Reports can 
be obtained at the FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm).
    OCC: Kevin Korzeniewski, Counsel, Chief Counsel's Office, (202) 
649-5490.
    Board: Nuha Elmaghrabi, Federal Reserve Board Clearance Officer, 
(202) 452-3884, Office of the Chief Data Officer, 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: Manuel E. Cabeza, Counsel, (202) 898-3767, Legal Division, 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION:

I. Report Summary

    The agencies propose to extend for three years, with revision, the 
FFIEC 031, FFIEC 041, and FFIEC 051 Call Reports.
    Report Title: Consolidated Reports of Condition and Income (Call 
Report).
    Form Number: FFIEC 031 (Consolidated Reports of Condition and 
Income for a Bank with Domestic and Foreign Offices), FFIEC 041 
(Consolidated Reports of Condition and Income for a Bank with Domestic 
Offices Only), and FFIEC 051 (Consolidated Reports of Condition and 
Income for a Bank with Domestic Offices Only and Total Assets Less Than 
$5 Billion).
    Frequency of Response: Quarterly.

[[Page 76660]]

    Affected Public: Business or other for-profit.
    Type of Review: Revision and extension of currently approved 
collections.
    OCC:
    OMB Control No.: 1557-0081.
    Estimated Number of Respondents: 1,111 national banks and federal 
savings
    associations.
    Estimated Average Burden per Response: 41.92 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 186,292 burden hours to file.

    Board:
    OMB Control No.: 7100-0036.
    Estimated Number of Respondents: 739 state member banks.
    Estimated Average Burden per Response: 45.40 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 134,202 burden hours to file.
    FDIC:
    OMB Control No.: 3064-0052.
    Estimated Number of Respondents: 3,263 insured state nonmember 
banks and state savings associations.
    Estimated Average Burden per Response: 39.96 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 521,558 burden hours to file.
    The estimated average burden hours collectively reflect the 
estimates for the FFIEC 031, the FFIEC 041, and the FFIEC 051 reports 
for each agency. When the estimates are calculated by type of report 
across the agencies, the estimated average burden hours per quarter are 
85.81 (FFIEC 031), 55.20 (FFIEC 041), and 35.27 (FFIEC 051). The 
agencies believe the change to the measurement date for the total asset 
thresholds used to determine additional reporting requirements for 
report dates in 2021 only that is proposed in this notice will not 
result in a change in the burden estimates currently approved by OMB. 
These estimates do not include increases in burden for report dates in 
2021 that would have resulted from institutions growing above asset 
thresholds within the Call Report because these institutions would now 
be afforded threshold relief. Instead, the agencies periodically 
reevaluate their burden estimates based on the data items that are 
regularly completed by institutions. Therefore, the burden estimates 
for these reports would remain the same if these revisions are 
finalized. The estimated burden per response for the quarterly filings 
of 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).
    Type of Review: Extension and revision of currently approved 
collections.

Legal Basis and Need for Collections

    The Call Report information collections are mandatory: 12 U.S.C. 
161 (national banks), 12 U.S.C. 324 (state member banks), 12 U.S.C. 
1817 (insured state nonmember commercial and savings banks), and 12 
U.S.C. 1464 (federal and state savings associations). At present, 
except for selected data items and text, these information collections 
are not given confidential treatment.
    Banks and savings associations submit Call Report data to the 
agencies each quarter for the agencies' use in monitoring the 
condition, performance, and risk profile of individual institutions and 
the industry as a whole. Call Report data serve a regulatory or public 
policy purpose by assisting the agencies in fulfilling their shared 
missions of ensuring the safety and soundness of financial institutions 
and the financial system and protecting consumer financial rights, as 
well as agency-specific missions affecting national and state-chartered 
institutions, such as conducting monetary policy, ensuring financial 
stability, and administering federal deposit insurance. Call Reports 
are the source of the most current statistical data available for 
identifying areas of focus for on-site and off-site examinations. Among 
other purposes, the agencies use Call Report data in evaluating 
institutions' corporate applications, including interstate merger and 
acquisition applications for which the agencies are required by law to 
determine whether the resulting institution would control more than 10 
percent of the total amount of deposits of insured depository 
institutions in the United States. Call Report data also are used to 
calculate institutions' deposit insurance assessments and national 
banks' and federal savings associations' semiannual assessment fees.

II. Current Action

    During 2020, relief measures enacted by Congress through the 
Coronavirus Aid, Relief, and Economic Security Act (CARES Act) \1\ in 
response to the strains on the U.S. economy and disruptions to the 
financial markets as a result of COVID-19 have led to unprecedented 
growth at many institutions, including loans made through the Paycheck 
Protection Program (PPP). This rapid growth has caused the assets of 
some institutions to rise above certain asset-based thresholds, and may 
cause other community institutions to do so in the near future. Much of 
this growth, especially growth related to PPP lending, is likely to be 
temporary, and the increase in assets currently held by an institution 
may not reflect a change in the institution's longer-term risk profile.
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    \1\ Public Law 116-136.
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    The Call Report contains various total asset thresholds that are 
measured annually as of the June 30 report date and trigger additional 
reporting requirements once crossed, generally starting with the Call 
Reports for the first calendar quarter of the next calendar year. These 
thresholds include the $100 million, $300 million, $1 billion, $5 
billion, and $10 billion in total asset threshold within the Call 
Reports. The agencies are particularly focused on these total asset 
thresholds set at $10 billion or less, as these thresholds could impact 
a significant number of smaller community institutions. These 
institutions may have fewer resources to implement systems changes and 
incur transition costs to comply with the additional reporting 
requirements associated with crossing one of those thresholds.
    Many community institutions may have unexpectedly crossed these 
total asset thresholds during 2020 due to participation in CARES Act 
relief programs or other COVID-19-related stimulus activities, which 
would otherwise trigger additional reporting obligations starting in 
calendar year 2021. The agencies expect some of these institutions may 
fall below the relevant total asset threshold as of June 30, 2021, for 
example, after forgiveness of PPP loans and redemption of borrowings 
obtained through the Board's PPP liquidity facility. The agencies do 
not want to create a short-term increase in burden on these community 
institutions to comply with the additional reporting for a single year. 
For community institutions that remain above a total asset threshold as 
of the June 30, 2021, measurement date, the one-year reporting relief 
the agencies propose below would assist those institutions in focusing 
on COVID-19-related stimulus activities in the near term while 
providing additional time to comply with any additional reporting 
requirements starting in 2022 rather than 2021.
    The agencies are not proposing to permit an alternate measurement 
date for larger total asset thresholds within the Call Reports, as the 
additional data items required at higher total assets

[[Page 76661]]

thresholds have increased relevance for agency supervisory monitoring. 
The agencies also are not proposing to permit an alternate measurement 
date for other asset thresholds tied to specific activities, such as 
thresholds based on trading assets, mortgage banking activities, or 
securitization activities, as levels of these activities generally 
would not be impacted by an institution's participation in various 
COVID-19-related stimulus activities.

A. FFIEC 051 Eligibility

    The agencies have adopted rules establishing criteria for 
eligibility to use the FFIEC 051 Call Report.\2\ The current Call 
Report instructions permit an institution to file the FFIEC 051 version 
of the Call Report if it meets certain criteria consistent with those 
rules. One criterion is that an institution must have total 
consolidated assets of $5 billion or less in its Call Report as of June 
30, 2020, when evaluating eligibility to use the FFIEC 051 for report 
dates in calendar year 2021. Due to the asset growth considerations 
discussed above, the agencies have revised their rules on FFIEC 051 
eligibility \3\ and are proposing to temporarily revise the 
instructions for the FFIEC 051 to permit an institution to use the 
lesser of the total consolidated assets reported in its Call Report as 
of December 31, 2019, or June 30, 2020, when evaluating eligibility to 
use the FFIEC 051 for report dates in calendar year 2021. An 
institution must still meet the other criteria for eligibility for the 
FFIEC 051 in the Call Report instructions. The banking agencies also 
reserve the right to require an institution otherwise eligible to use 
the FFIEC 051 to file the FFIEC 041 instead based on supervisory needs. 
The agencies are proposing this relief for calendar year 2021 only. An 
institution would be required to use the total consolidated assets it 
reports in its Call Report as of June 30, 2021, when determining 
eligibility to use the FFIEC 051 in calendar year 2022, consistent with 
the existing instructions for the FFIEC 051.
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    \2\ See definition of covered depository institutions. 12 CFR 
52.2 (OCC); 12 CFR 208.121 (Board); 12 CFR 304.12 (FDIC).
    \3\ https://www.fdic.gov/news/press-releases/2020/pr20127.html.
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B. Community Bank Leverage Ratio Eligibility

    The agencies also have adopted rules permitting institutions that 
meet certain criteria to use the community bank leverage ratio (CBLR) 
framework to measure their regulatory capital.\4\ The agencies have 
revised these rules \5\ to allow institutions that temporarily exceed 
the $10 billion total asset threshold in those rules to use the CBLR 
framework from December 31, 2020, to December 31, 2021, provided they 
meet the other qualifying criteria for this framework. Institutions 
that elect to use the CBLR framework under this temporary relief would 
report CBLR information in Call Report Schedule RC-R, Part I, except 
that item 32 (Total assets) on that schedule should reflect the lesser 
of the institution's total assets as of December 31, 2019, or as of the 
quarter-end report date.
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    \4\ See 12 CFR 3.12 (OCC); 12 CFR 217.12 (Board); 12 CFR 324.12 
(FDIC).
    \5\ https://www.fdic.gov/news/press-releases/2020/pr20127.html.
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C. Call Report Data Item Thresholds

    All three versions of the Call Report also include total asset 
thresholds for reporting certain additional data items. Reporting of 
these data items in a given calendar year is determined based on 
whether an institution has crossed the total asset threshold based on 
the total consolidated assets reported as of June 30 of the prior year. 
For the reasons described above, the agencies propose to permit an 
institution to use the lesser of the total consolidated assets reported 
in its Call Report as of December 31, 2019, or June 30, 2020, when 
determining whether the institution has crossed a total asset threshold 
to report additional data items in its Call Reports for report dates in 
calendar year 2021. The agencies are proposing this relief for calendar 
year 2021 only. An institution would be required to use the total 
consolidated assets reported in its Call Report as of June 30, 2021, 
when determining whether it must complete any additional items subject 
to the total asset threshold in calendar year 2022. As noted above, the 
regulatory reporting burden relief is limited to community institutions 
with total asset thresholds up to $10 billion, as these thresholds are 
most relevant for community institutions.
    The Call Report total asset thresholds that would be impacted by 
this proposed change in measurement date are:
     For the FFIEC 041 and FFIEC 051 only, the $100 million 
threshold to report ``Other borrowed money'' in Schedule RC-K, item 13.
     For the FFIEC 041 and FFIEC 051 only, the $300 million 
threshold \6\ to report additional agricultural lending information in 
Schedule RI, Memorandum item 6; Schedule RI-B, Part I, Memorandum item 
3; Schedule RC-C, Memorandum item 1.f.(5); Schedule RC-K, Memorandum 
item 1; and Schedule RC-N, Memorandum items 1.f.(5) and 4.
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    \6\ These same items also have a 5 percent activity threshold 
for institutions with less than $300 million in total consolidated 
assets. For these items, an institution would measure the 5 percent 
threshold as of the same date as of which it measures total 
consolidated assets.
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     For the FFIEC 031 and FFIEC 041 only, the $300 million 
threshold to report certain information on credit card lines in 
Schedule RC-L, items 1.b.(1) and (2).
     For the FFIEC 041 only, the $300 million threshold to 
report cash and balances due from depository institutions in Schedule 
RC-A; certain derivatives information in Schedule RI, Memorandum item 
10, and Schedule RC-N, Memorandum item 6; and certain additional loan 
information in Schedule RI-B, Part I, Memorandum items 2.a, 2.c, and 
2.d; Schedule RC-C, Part I, items 2.a, 2.b, 2.c, 4.a, 4.b, 9.b.(1), 
9.b.(2), 10.a, and 10.b, column A; Schedule RC-C, Part I, Memorandum 
items 1.e.(1), 1.e.(2), and 5; and Schedule RC-N, Memorandum items 
1.e.(1), 1.e.(2), and 3.a through 3.d.
     The $1 billion threshold to report components of deposit 
fee income in Schedule RI, Memorandum items 15.a through 15.d; 
disaggregated credit loss allowance data in Schedule RI-C; components 
of transaction and nontransaction savings consumer deposit account 
products in Schedule RC-E, Memorandum items 6.a, 6.b, 7.a.(1), 7.a.(2), 
7.b.(1), and 7.b.(2); and estimated uninsured deposits in Schedule RC-
O, Memorandum item 2.
     For the FFIEC 031 and FFIEC 041 only, the $1 billion 
threshold to report information on certain income from mutual funds and 
annuities in Schedule RI, Memorandum item 2; and financial and 
performance standby letters of credit conveyed to others in Schedule 
RC-L, items 2.a and 3.a.
     For the FFIEC 031 and FFIEC 041 only, the $10 billion 
threshold to report additional information on derivatives in Schedule 
RI, Memorandum items 9.a and 9.b, and Schedule RC-L, items 16.a and 
16.b.(1) through 16.b.(8); holdings of asset-backed securities and 
structured financial products in Schedule RC-B, Memorandum items 5.a 
through 5.f and 6.a through 6.g; and securitizations in Schedule RC-S, 
items 6 and 10, and Memorandum items 3.a.(1), 3.a.(2), 3.b.(1), and 
3.b.(2).
     For the FFIEC 031 only, the $10 billion threshold to 
report additional information on deposits in foreign offices in 
Schedule RC-E, Part II.

[[Page 76662]]

III. Request for Comment

    Public comment is requested on all aspects of this joint notice. 
Comment is specifically 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.
    Comments submitted in response to this joint notice will be shared 
among the agencies.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.

    Board of Governors of the Federal Reserve System.
Michelle Taylor Fennell,
Deputy Associate Secretary of the Board.

    Dated at Washington, DC, on or about November 24, 2020.

Federal Deposit Insurance Corporation.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2020-26388 Filed 11-27-20; 8:45 am]
BILLING CODE 4810-33- 6210-01- 6714-01-P