(MA)-Reports of Condition and Income (Interagency Call Report)

ICR 200612-1557-004

OMB: 1557-0081

Federal Form Document

Forms and Documents
IC Document Collections
ICR Details
1557-0081 200612-1557-004
Historical Active 200606-1557-003
TREAS/OCC
(MA)-Reports of Condition and Income (Interagency Call Report)
Revision of a currently approved collection   No
Emergency 12/22/2006
Approved without change 12/29/2006
Retrieve Notice of Action (NOA) 12/22/2006
The burden was reduced by statutory directive. ICR has been edited to reflect.
  Inventory as of this Action Requested Previously Approved
06/30/2007 6 Months From Approved 03/31/2009
7,600 0 7,600
332,500 0 334,858
0 0 0

National banks file reports pursuant to 12 U.S.C. 161 and other statutes. Data are used to evaluate and monitor the financial condition and earnings performance of individual banks as well as the entire banking industry. The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the last page of these reporting forms. The burden associated with these data are 15 minutes per quarter. As discussed by the FRB with Alex Hunt, the agencies will advise the public of the elimination of the reporting requirement in the final Federal Register notice announcing the proposed changes for 2007. In addition, the agencies will send a letter to financial institutions informing them that the data do not need to be reported effective for the December 31, 2006 as-of date.
The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the last page of these reporting forms. The burden associated with these data are 15 minutes per quarter. As discussed by the FRB with Alex Hunt, the agencies will advise the public of the elimination of the reporting requirement in the final Federal Register notice announcing the proposed changes for 2007. In addition, the agencies will send a letter to financial institutions informing them that the data do not need to be reported effective for the December 31, 2006 as-of date. Emergency review is necessary in order to make the change effective for the December 31, 2006 report date.

PL: Pub.L. 109 - 351 601 Name of Law: Financial Services Act of 2006
  
PL: Pub.L. 109 - 351 601 Name of Law: Financial Services Regulatory Relief Act

Not associated with rulemaking

  71 FR 63848 10/31/2006
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 7,600 7,600 0 0 0 0
Annual Time Burden (Hours) 332,500 334,858 -2,358 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Changing Forms
The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the last page of these reporting forms. The burden associated with these data are 15 minutes per quarter.

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Gary Christensen 202 874-4482

  No

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.
12/22/2006


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