[Federal Register Volume 86, Number 211 (Thursday, November 4, 2021)]
[Notices]
[Pages 60965-60968]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24060]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM

FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities; Submission for OMB 
Review; 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 
to, an information collection unless it displays a currently valid 
Office of Management and Budget (OMB) control number. On July 22, 2021, 
the agencies, under the auspices of the Federal Financial Institutions 
Examination Council (FFIEC), requested public comment for 60 days on 
proposals to revise and extend for three years the Consolidated Reports 
of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 
051), which is currently an approved collection of information. The 
agencies requested comment on proposed changes to the instructions for 
reporting of deferred tax assets (DTAs) and to add a new item related 
to the standardized approach for counterparty credit risk (SA-CCR). The 
comment period for the notice has closed. The agencies are adding the 
new item related to SA-CCR as proposed.

[[Page 60966]]

The agencies are deferring the proposed changes to the instructions for 
reporting of DTAs until a future notice, which will also provide an 
opportunity for additional comment on the instructions. The agencies 
hereby give notice of their plan to submit to OMB a request to approve 
the revision and extension of these information collections and again 
invite comment on the renewal.

DATES: Comments must be submitted on or before December 6, 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 Revisions,'' will be shared among the agencies.
    Written comments and recommendations for the proposed information 
collections should be sent within 30 days of publication of this notice 
to www.reginfo.gov/public/do/PRAMain. You may find these particular 
information collections by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    Comments should also be sent to:
    OCC: You may submit comments, which should refer to ``Call Report 
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.
    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. 
Hover over 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 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 
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 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 
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 
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.

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 and instructions 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.
    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: 1,090 national banks and federal 
savings associations.

[[Page 60967]]

    Estimated Average Burden per Response: 42.10 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 183,556 burden hours to file.

Board

    OMB Control No.: 7100-0036.
    Estimated Number of Respondents: 728 state member banks.
    Estimated Average Burden per Response: 45.62 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 132,845 burden hours to file.

FDIC

    OMB Control No.: 3064-0052.
    Estimated Number of Respondents: 3,209 insured state nonmember 
banks and state savings associations.
    Estimated Average Burden per Response: 40.13 burden hours per 
quarter to file.
    Estimated Total Annual Burden: 515,109 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 
86.49 (FFIEC 031), 55.53 (FFIEC 041), and 35.38 (FFIEC 051). The 
changes to the FFIEC 031, FFIEC 041 and FFIEC 051 Call Report forms and 
instructions proposed in this notice would not have an impact on the 
existing burden estimates. 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. In addition to the proposed revisions discussed below, 
Call Reports are periodically updated to clarify instructional guidance 
and correct grammatical and typographical errors on the forms and 
instructions, which are published on the FFIEC website.\1\ These non-
substantive updates may also be commented upon.
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    \1\ www.ffiec.gov/forms031.htm; www.ffiec.gov/forms041.htm; 
www.ffiec.gov/forms051.htm.
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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 Actions

A. New Item for SA-CCR

    On January 24, 2020, the agencies issued a final rule \2\ (SA-CCR 
final rule) that amends the regulatory capital rule to implement a new 
approach for calculating the exposure amount for derivative contracts 
for purposes of calculating total risk-weighted assets (RWA), which is 
called SA-CCR. The final rule also incorporates SA-CCR into the 
determination of the exposure amount of derivatives for total leverage 
exposure under the supplementary leverage ratio and the cleared 
transaction framework under the capital rule. Banking institutions that 
are not advanced approaches institutions may elect to use SA-CCR to 
calculate standardized total RWA by notifying their appropriate federal 
supervisor.\3\ Advanced approaches institutions are required to use SA-
CCR to calculate standardized total RWA starting on January 1, 2022. 
Advanced approaches institutions may adopt SA-CCR prior to January 1, 
2022, but must notify their appropriate federal supervisor of early 
adoption.\4\
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    \2\ 85 FR 4362 (Jan. 24, 2020).
    \3\ 12 CFR 3.34(a)(1)(ii) (OCC); 12 CFR 217.34(a)(1)(ii) 
(Board); 12 CFR 324.34(a)(1)(ii) (FDIC).
    \4\ 12 CFR 3.300(g) (OCC); 12 CFR 217.300(h) (Board); 12 CFR 
324.300(g) (FDIC).
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    On July 22, 2021, the agencies proposed to revise Schedule RC-R, 
Part I, Regulatory Capital Components and Ratios, on all versions of 
the Call Report by adding a new line item 31.b, ``Standardized Approach 
for Counterparty Credit Risk opt-in election.'' \5\ The agencies 
proposed to add this new item to identify institutions that have chosen 
to early adopt or voluntarily elect SA-CCR. This information allows for 
enhanced comparability of the reported derivative data and for better 
supervision of the implementation of the framework at these 
institutions. Due to the inherent complexity of adopting SA-CCR, 
identification of non-advanced approaches institutions that choose to 
voluntarily adopt SA-CCR is particularly important for their 
supervision.
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    \5\ 86 FR 38810 (July 22, 2021) (July 2021 notice).
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    The comment period for the July 2021 notice ended on September 20, 
2021. The agencies received one comment that was generally supportive 
of the proposed new Call Report line item related to the SA-CCR final 
rule. The agencies did not receive any other comments on the proposed 
change and intend to add the new item for SA-CCR as proposed. The 
agencies made available on the FFIEC website redline changes related to 
SA-CCR in the forms and instructions for Schedule RC-R, Part I, 
Regulatory Capital Components and Ratios, and the agencies will use 
these same redline changes for this notice as well.

B. Instruction Revisions for DTAs

    On May 10, 2021, the agencies published a proposed rule on Tax 
Allocation Agreements (Tax NPR) with request for comment.\6\ Consistent 
with the proposed requirements and discussion in the Tax NPR, the 
agencies proposed to revise the Call Report instructions Glossary entry 
for ``Income Taxes'' to address treatment of temporary difference 
deferred and operating loss and tax credit

[[Page 60968]]

carryforward DTAs in the July 2021 notice.
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    \6\ 86 FR 24755 (May 10, 2021).
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    The agencies are still considering comments received on the Tax 
NPR. Therefore, the agencies are deferring consideration of any 
instruction changes related to DTAs to a future Paperwork Reduction Act 
notice, which will also provide an opportunity for additional comment 
on the instructions. The agencies did receive two comments on the 
proposed instruction revisions for DTAs, which will be considered when 
developing that notice.

III. Timing

    As stated in the July 2021 notice, the proposed reporting change 
for the new item related to SA-CCR would take effect starting with the 
December 31, 2021, Call Report.

IV. 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.

Patrick T. Tierney,
Assistant Director, Bank Advisory Office of the Comptroller of the 
Currency.

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

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on October 28, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-24060 Filed 11-3-21; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P, 6714-01-P