Insured financial institutions must provide quarterly reports of condition and income to the appropriate regulatory for supervisory, surveillance, regulatory, research, insurance assessment and informational purposes.
On November 21, 2011, the agencies, under the auspices of the FFIEC, requested public comment for 60 days on a proposal to extend, with revision, the Call Reports, which are currently approved collections of information. After considering the comments received, the FFIEC and the agencies will proceed with the reporting changes and instructional revisions that had been proposed to take effect March 31, 2012, and will also implement the two less detailed Call Report revisions that had been proposed for implementation as of June 30, 2012. As for the two new schedules that also had been proposed to be added to the Call Report beginning June 30, 2012,1 the FFIEC and the agencies are continuing to evaluate these proposed schedules in light of the comments received.
The proposed revisions to the Call Reports that are the subject of this request have been approved by the FFIEC. Certain new data items would be added to the Call Report as of the June 30, 2012, report date and two proposed revisions would take effect March 31, 2012, in connection with the initial filing of Call Reports by savings associations (as previously approved by OMB). The proposed new data items are intended to provide data needed for reasons of safety and soundness or other public purposes and would assist the agencies in gaining a better understanding of institutions' lending activities and credit risk exposures. The agencies also proposed certain revisions to the Call Report instructions that would take effect March 31, 2012. Consistent with longstanding practice, for the March 31, 2012, and June 30, 2012, report dates, as applicable, institutions may provide reasonable estimates for any new or revised Call Report item initially required to be reported as of that date for which the requested information is not readily available.
US Code:
12 USC 1817(a)
Name of Law: Federal Deposit Insurance Act
The change in burden associated with this submission is caused by two factors: (a) a net decrease in the number of reporting institutions supervised by the FDIC, and (b) the changes to the Call Report that are the subject of this submission.
At present, there are 4,630 FDIC-supervised institutions (4,570 FDIC-supervised banks that currently file Call Reports and 60 FDIC-supervised savings associations that will begin to file Call Reports as of March 31, 2012, as previously approved by OMB). This number is 117 less than previously reported (4,747 previously versus 4,630 now), with the entire reduction attributable to banks. As noted in Section 13 above, the proposed revisions that are the subject of this submission will affect only a small percentage of FDIC-supervised institutions. Thus, the FDIC estimates that the overall effect of the proposed reporting revisions across the range of institutions under its supervision would be a nominal increase of in the burden estimate per response. The analysis of the change in burden is as follows:
Currently approved burden
FDIC-supervised banks (burden to file) 758,732 hours
FDIC-supervised savings associations:
Burden to file 9,713 hours
First year burden to convert systems and conduct training 11,280 hours
Total currently approved burden 779,725 hours
Revisions to content of report (program change)
FDIC-supervised banks (burden to file) + 365 hours
FDIC-supervised savings associations (burden to file) + 53 hours
Adjustment (change in use)
FDIC-supervised banks (burden to file) - 18,940 hours
FDIC-supervised savings associations (burden to file) 0 hours
Requested (new) burden 761,203 hours
Net change in burden: - 18,522 hours
The impact of the reporting changes covered by this submission will vary from institutions to institution depending upon an institution's individual circumstances and the extent of its involvement, if any, with the particular type of activity, product, or transaction that is the subject of a proposed reporting revision.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form 031 & 041 3-12 Consolidated Reports of Condition and Income (Call Report)
SPST-0052 312xSupporting Statement 021712.doc
Consolidated Reports of Condition and Income (Call Report)