System Conversion

Federal Register / Vol. 76, No. 130 / Thursday, July 7, 2011 / Notices
CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:

Individuals who file for Stateadministered public assistance benefits
in States participating in the
Department’s pilot program.
CATEGORIES OF RECORDS IN THE SYSTEM:

These records include information
pertaining to the Department of the
Treasury’s pilot project ‘‘Assessing State
Data for Validating EITC Eligibility.’’
Records include, but are not limited to,
the application[s] for State-administered
benefits, including subsequent
recertification documentation and other
documents supporting eligibility for
State-administered benefit programs.
The records may contain taxpayer
names, Taxpayer Identification
Numbers, social security numbers, and
other representative authorization
information.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

The Consolidated Appropriations Act,
2010 (Pub. L. 111–117, 123 Stat. 3034,
3171–3172); 5 U.S.C. 301; 31 U.S.C. 321.

been compromised; (b) the Department
has determined that as a result of the
suspected or confirmed compromise,
there is a risk of harm to economic or
property interests, identity theft or
fraud, or harm to the security or
integrity of this system or other systems
or programs (whether maintained by the
Department or another agency or entity)
that rely upon the compromised
information; and (c) the disclosure made
to such agencies, entities, and persons is
reasonably necessary to assist in
connection with the Department’s
efforts to respond to the suspected or
confirmed compromise and prevent,
minimize, or remedy such harm.
(5) Disclose information to the
National Archives and Records
Administration (‘‘NARA’’) for use in its
records management inspections and its
role as an Archivist.
POLICIES AND PRACTICES FOR STORING,
RETRIEVING, ACCESSING, RETAINING AND
DISPOSING OF RECORDS IN THE SYSTEM:

The purpose of this system is to
determine whether data maintained by
up to five States in their public
assistance and other databases can assist
in identifying both ineligible
individuals who receive improper
Earned Income Tax Credit payments
and eligible individuals who are not
claiming the EITC.

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ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM INCLUDING CATEGORIES OF USERS AND
PURPOSES OF SUCH USES:

Disclosure of returns and return
information may be made only as
provided by 26 U.S.C. 6103. All other
records may be used as described below
if the Department determines that the
purpose of the disclosure is compatible
with the purpose for which the
Department collected the records, and
no privilege is asserted.
(1) Disclose to the appropriate State
agencies responsible for validating
results of the data matching initiative
with specific individual case file
research.
(2) Provide information to a
Congressional Office in response to an
inquiry made at the request of the
individual to whom the records pertain.
(3) Disclose information to a
contractor, including a consultant hired
by Treasury, to the extent necessary for
the performance of a contract.
(4) To appropriate agencies, entities,
and persons when: (a) The Department
suspects or has confirmed that the
security or confidentiality of
information in the system of records has

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RECORDS ACCESS PROCEDURES:

Individuals seeking access to any
record contained in this system of
records, or seeking to contest its
content, may inquire in accordance with
instructions appearing at 31 CFR part 1,
subpart C, appendix A. Inquiries should
be addressed to Director, Disclosure
Services, Department of the Treasury,
1500 Pennsylvania Ave., NW.,
Washington, DC 20220.
CONTESTING RECORDS PROCEDURES:

26 U.S.C. 7852(e) prohibits Privacy
Act amendment of tax records. For all
other records, see ‘‘Records Access
Procedures’’ above.
RECORDS SOURCE CATEGORIES:

Records in this system are provided
by the States’ department for public
assistance and health services, and/or
the departments of revenue for the
States participating in the pilot project.
EXEMPTIONS CLAIMED FOR THE SYSTEM:

None.

STORAGE:

[FR Doc. 2011–17029 Filed 7–6–11; 8:45 am]

Paper records and electronic media.

PURPOSE:

39981

BILLING CODE 4810–25–P

RETRIEVABILITY:

By taxpayer name and Taxpayer
Identification Number, social security
number, employer identification
number, or similar number assigned by
the IRS.
Access to electronic records is
restricted to authorized personnel who
have been issued non-transferrable
access codes and passwords. Other
records are maintained in locked file
cabinets or rooms with access limited to
those personnel whose official duties
require access. The facilities have 24hour on-site security.
RETENTION AND DISPOSAL:

Electronic and paper records will be
maintained indefinitely until a records
disposition schedule is approved by the
National Archives and Records
Administration.
SYSTEM MANAGER(S) AND ADDRESS:

Deputy Assistant Secretary for Fiscal
Operations and Policy, Office of the
Fiscal Assistant Secretary, Department
of the Treasury, 1500 Pennsylvania
Ave., NW., Washington, DC 20220.
NOTIFICATION PROCEDURE:

Individuals seeking to determine if
this system of records contains a record
pertaining to themselves may inquire in
accordance with instructions appearing
at 31 CFR part 1, subpart C, appendix
A. Inquiries should be addressed as in
‘‘Record Access Procedures’’ below.

Frm 00171

Office of the Comptroller of the
Currency
FEDERAL RESERVE BOARD

SAFEGUARDS:

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DEPARTMENT OF THE TREASURY

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FEDERAL DEPOSIT INSURANCE
CORPORATION
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Agency Information Collection
Activities; Submission for OMB
Review; Joint Comment Request
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: Notice of information collection
to be submitted to OMB for review and
approval under the Paperwork
Reduction Act of 1995.
AGENCIES:

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

SUMMARY:

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Federal Register / Vol. 76, No. 130 / Thursday, July 7, 2011 / Notices

Management and Budget (OMB) control
number. The agencies, under the
auspices of the Federal Financial
Institutions Examination Council
(FFIEC), on February 8, 2011, requested
public comment for 60 days on their
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 (76 FR 7082).
In addition, the Board published 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 (76 FR
7091). The Board is considering the
comments it received on the notice of its
intent for SLHC reporting and will issue
its proposal for reporting by SLHCs on
or after July 21, 2011, which is the date
that supervision of SLHCs is transferred
from the OTS to the Board.
The TFR and the Call Report are
currently approved collections of
information. Seven comment letters
were received on the proposal. In
addition, the agencies met with two
commenters as described later in this
notice. After considering the comments
received on the proposal, the agencies
hereby give notice of their plan to
proceed with the proposed conversion
to the Call Report and will submit the
proposal to OMB for review and
approval.
DATES: Comments must be submitted on
or before August 8, 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. As described later in this
notice, the OTS will be abolished on
July 21, 2011 and its functions
transferred to the other agencies. Hence,
comments submitted on or after July 21,
2011 should be addressed to any or all
of the agencies other than OTS.
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],gov. You may
personally inspect and photocopy
comments at the OCC, 250 E Street,
SW., Washington, DC 20219. For
security reasons, the OCC requires that

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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

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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 9:00 a.m. to 4:00 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
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
[email protected], 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

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Federal Register / Vol. 76, No. 130 / Thursday, July 7, 2011 / Notices
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
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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 forprofit.
OCC
OMB Number: 1557–0081.
Current
Estimated Number of Respondents:
1,427 national banks.
Estimated Time per Response: 53.38
burden hours.
Estimated Total Annual Burden:
304,693 burden hours.
Proposed
Estimated Number of Respondents:
2,091 (1,427 national banks and 664
federal savings associations).
Estimated Time per Response:
National banks: 53.38 burden hours per
quarter to file.
Federal savings associations: 53.38
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: 304,693 burden hours to
file.
Federal savings associations: 141,777
burden hours to file; plus 124,832
burden hours for the first year to convert
systems and conduct training.
Total: 571,302 burden hours.
Board
OMB Number: 7100–0036.
Current
Estimated Number of Respondents:
826 state member banks.
Estimated Time per Response: 55.19
burden hours.
Estimated Total Annual Burden:
182,348 burden hours.
Proposed
No change.
FDIC
OMB Number: 3064–0052.
Current
Estimated Number of Respondents:
4,687 insured state nonmember banks.
Estimated Time per Response: 40.47
burden hours.
Estimated Total Annual Burden:
758,732 burden hours.

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39983

Proposed
Estimated Number of Respondents:
4,747 (4,687 insured state nonmember
banks and 60 state savings associations).
Estimated Time per Response: State
nonmember banks: 40.47 burden hours
per quarter to file.
State savings associations: 40.47
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: 758,732 burden
hours to file.
State savings associations: 9,713
burden hours to file; plus 11,280 burden
hours for the first year to convert
systems and conduct training.
Total: 779,725 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
700 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 forprofit.
OTS
OMB Number: 1550–0023.
Current
Estimated Number of Respondents:
724 savings associations.
Estimated Time per Response: 60.3
hours average for quarterly schedules
and 2.0 hours average for schedules
required only annually plus
recordkeeping of an average of one hour
per quarter.
Estimated Total Annual Burden:
178,973 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

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as proposed. Accordingly, the burden
estimates above in this notice 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: 724
savings associations.
Estimated Time per Institution: 188
burden hours.
Estimated Total Burden: 136,112
burden hours.

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General Description of Reports
These information collections are
mandatory pursuant to: 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 offsite 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

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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
On February 8, 2011, the agencies
proposed to implement changes to
savings associations’ data reporting
requirements beginning with the
reporting period ending on March 31,
2012 (76 FR 7082). These changes are

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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. After
considering the comments received on
the proposal, the agencies plan to
proceed with the proposed conversion
from the TFR to the Call Report for
savings associations beginning on the
March 31, 2012, report date.
II. Proposal To Require Savings
Associations To File Call Report
A. Discussion of Comments
The agencies collectively received
comments from five savings associations
and from two bank/thrift trade
associations regarding the agencies’
February 8, 2011 proposal to convert to
the Call Report from the TFR. None of
the commenters took exception to the
general proposal to have savings
associations currently regulated by the
OTS begin reporting regulatory financial
data using the Call Report instead of the
TFR sometime after the transfer date of
July 21, 2011. However, there were
comments received on some specific
aspects of the proposed report
conversion. Below is a discussion of the
more specific comments.
The comments received from the
individual savings associations all
related to the proposal to eliminate the
collection of data on Schedule
Consolidated Maturity/Rate (Schedule
CMR), and with it, the elimination of
the OTS Interest Rate Risk Model (OTS
IRR Model). One savings association
supported Schedule CMR elimination
noting that it used an internal model to
monitor interest rate risk and it was a
burden to reconcile the results of its
own model to that of the OTS IRR
Model. Four savings associations
commented that they supported
continuation of Schedule CMR since
they relied on the OTS IRR Model to
help monitor interest rate risk.
In making the final determination
about Schedule CMR and the OTS IRR
Model, the agencies carefully
considered these comments as well as
comments received by the OTS in
response to its 2007 Advance Notice of
Proposed Rulemaking (72 FR 64003,
November 14, 2007) 1 regarding a
possible conversion to the Call Report.
The majority of comments received by
the OTS in response to the 2007
proposal supported elimination of the
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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IRR Model and collection of Schedule
CMR. The reasons cited by savings
associations supporting the elimination
of Schedule CMR were based on the
burden of generating the data necessary
to complete that schedule and the fact
that they had adopted other models to
help measure and monitor interest rate
risk.
The agencies also considered that
existing rules, regulations, and overall
supervisory approaches for savings
associations will be realigned to parallel
those applied to all other FDIC-insured
institutions. Specifically with regard to
monitoring interest rate risk, savings
associations will be expected to have
their own resources to measure and
monitor interest rate risk. This
measurement should address earnings at
risk as well as capital at risk to interest
rate movements, as described in the
agencies’ 2010 Advisory on Interest Rate
Risk Management (Interagency
Advisory). The Web links for the general
interest rate risk management policies
and guidelines of the agencies (other
than the OTS) are as follows:
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
The OTS IRR Model does not provide
measurement of both earnings at risk
and capital at risk to interest rate
movements, so extending reporting of
Schedule CMR would not facilitate
savings associations’ movement toward
full compliance with the Interagency
Advisory. Numerous vendors and other
sources are available to assist
institutions in establishing processes to
fully measure interest rate risk
exposure, as evidenced by existing
commercial and state-chartered savings
banks of all asset sizes that effectively
measure and monitor interest rate risk
independently of, but subject to
supervisory oversight by, their regulator.
After considering all the issues, the
agencies have decided to proceed with
the elimination of Schedule CMR as

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proposed beginning with the March 31,
2012 reporting period.
The February 8, 2011 notice also
proposed that the filing of Schedule
CMR for the remainder of 2011 would
be optional for savings associations that
have a ‘‘1’’ or ‘‘2’’ rating for their most
recent composite rating under the
Uniform Financial Institutions Rating
System (UFIRS), a ‘‘1’’ or ‘‘2’’ rating for
their most recent UFIRS Sensitivity
component rating, and the means to
adequately monitor and assess interest
rate risk through internal processes
pursuant to current regulatory guidance
and expectations.
The agencies decided to modify the
proposed 2011 optional filing of
Schedule CMR for these savings
associations. Rather than making the
filing of Schedule CMR optional for
savings associations that have a ‘‘1’’ or
‘‘2’’ rating for their most recent UFIRS
composite rating, a ‘‘1’’ or ‘‘2’’ rating for
their most recent UFIRS Sensitivity
component rating, and the means to
adequately monitor and assess interest
rate risk through internal processes,
savings associations that meet these
criteria should not file Schedule CMR
after the end of the June 30, 2011
reporting period. All other savings
associations must continue to file
Schedule CMR through the December
31, 2011 reporting period.
Additional comments were received
from two bank/thrift trade associations.
Both of the trade associations requested
a one-year extension for the conversion
of the TFR to the Call Report from the
proposed implementation date of the
reporting period ending March 31, 2012,
to an implementation date of the
reporting period ending March 31, 2013.
The trade associations cited various
burden concerns as a general basis for
the one-year extension request.
The agencies met with representatives
from the two trade associations on May
11, 2011, to discuss in more detail their
comments regarding the report
conversion proposal. Both trade
associations reiterated the concerns
expressed in their comment letters. In
the comment letters and during the May
11, 2011, meeting, both trade
associations mentioned the coinciding
burden associated with the Board’s
notice of intent to require SLHCs to
begin filing the same regulatory reports
required of BHCs. The Board is
considering the comments received on
its notice of intent and plans to issue a
proposal for comment regarding SLHC
reporting on or after the July 21, 2011,
transfer date.
The agencies carefully considered the
trade associations’ comments regarding
the TFR-to-Call Report conversion

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proposal. The agencies realize the report
conversion is a key consideration of the
thrift industry and have already taken
several measures to help address these
concerns and ease the conversion from
the TFR to the Call Report.
One of the most significant measures
to assist with the report conversion
process is the transfer of the entire OTS
Financial Reporting Division (FRD) staff
to the FDIC effective with the transfer
date. The FRD staff currently responds
to savings association TFR questions
and is the primary contact for savings
associations with questions regarding
TFR content issues as well as technical
filing issues. The FRD staff currently has
caseloads of savings associations and
the transfer of FRD staff as a unit will
help provide savings associations with
consistency by having the same points
of contact throughout the report
conversion process. Experienced Call
Report staff will also be readily
available to assist institutions with
report content and filing issues
throughout the transition and on an
ongoing basis.
In addition, on February 3, 2011, the
OTS announced it would curtail all
proposed changes to the TFR for 2011
that would increase the differences
between the TFR and the Call Report
(Final Notice 76 FR 6191).2 This
decision was made to help reduce the
burden of the proposed report
conversion.
Also to help savings associations with
the conversion to the Call Report, the
OTS published on February 15, 2011,3
a ‘‘mapping’’ of data items reported on
the TFR to comparable items reported
on the Call Report. The mapping further
identified the Call Report data items
that are not reported in the TFR. The
mapping schema is available on the
OTS’s Web site at http://
www.ots.treas.gov/_files/4830092.pdf.
The mapping schema was also placed
on the FFIEC’s Web site under Call
Report Forms at http://www.ffiec.gov/
ffiec_report_forms.htm.
The two trade associations expressed
appreciation for the mapping between
the reports mentioned above. They also
commented that there were a large
number of data items that did not map
between the two reports. The trade
associations observed the large number
was primarily attributable to the greater
number of data items currently collected
on the Call Report compared to the
number of data items collected on the
2 Link to the February 3, 2011, Final Notice
published at 76 FR 6191: http://www.ots.treas.gov/
_files/4830087.pdf.
3 Link to CEO Letter 379: http://
www.ots.treas.gov/_files/25379.pdf.

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TFR. Further, the trade associations
indicated the large number of data items
that do not map between the reports
may be evidence that the proposed
report conversion could prove difficult
for savings associations.
The agencies believe the number of
data items that do not map between the
two reports reflects: (1) a larger number
of data items reported on the Call Report
than on the TFR; and (2) the greater
number of large, complex institutions
reporting information using the Call
Report rather than the TFR.
As of March 31, 2011, there were
7,574 FDIC-insured banks and savings
institutions—724 were savings
associations reporting data to the OTS
using the TFR and the remainder (6,850)
were FDIC-insured commercial banks
and state-chartered savings banks
reporting data to their respective
regulatory agency using the Call Report.
Of the 724 savings associations, four
had assets greater than $50 billion, and
none had assets greater than $100
billion. Of the 6,850 institutions, 32 had
assets greater than $50 billion, and four
had assets greater than $100 billion.
The fact that the thrift industry (TFR
filers) is generally smaller and has fewer
large, complex institutions than the
other banks and savings institutions
insured by the FDIC as a group (Call
Report filers), has allowed the OTS to
obtain needed supervisory information
from individual savings associations
rather than add data items to the TFR.
This was especially the case where
information was needed for activities
unique to certain larger, more complex
thrift institutions.
In contrast, obtaining similar
information for supervisory purposes
through the Call Report was more
efficient for Call Report filers since there
was likely a greater number of
institutions engaged in complex
activities. This was due to the fact there
are approximately nine times the
number of Call Report filers as there are
TFR filers. In addition, there are a
greater number of large institutions
filing the Call Report.
The inclusion in the Call Report of
schedules from which to obtain
information from complex activities, for
example securitization activities, as
opposed to the collection of similar
information outside the TFR collection
process for savings associations,
resulted in a large number of items that
did not map from the Call Report to the
TFR. Call Report items designed to
collect information from institutions
engaged in complex activities would not
need to be reported for the vast majority
of savings associations.

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Further, the Call Report uses an asset
size-based approach to some schedules
whereby institutions exceeding a certain
asset size are required to report
additional data. The asset size
thresholds in many Call Report
schedules are either $300 million or $1
billion. As of March 31, 2011, 64
percent of savings associations had
assets less than $300 million; 86 percent
of savings associations had assets less
than $1 billion. Hence, the additional
reporting required of larger institutions
in many Call Report schedules would
not apply to the majority of savings
associations.
For these reasons, the agencies believe
focusing on the number of Call Report
data items that do not map to the TFR
may lead to the inaccurate conclusion
that the proposed conversion to the Call
Report from the TFR would impose
significant additional burden on all
savings associations.
The two trade associations also
commented that the burden estimates,
specifically the estimates under the
heading ‘‘Initial Burden Estimates,’’ in
the February 8, 2011 notice announcing
the proposed reporting conversion,
underestimate the actual number of
hours that may be required for the
conversion.
The initial burden estimates in the
February 8, 2011 notice were based on
a telephone survey conducted by the
OTS of certain savings associations that
changed charters from an OTSsupervised institution to a commercial
bank or a non-OTS supervised state
savings bank during the period from
January 1, 2008, through June 30, 2010.
Hence, these institutions had to convert
from reporting on the TFR to reporting
on the Call Report. Their actual
experience implementing a report
conversion from the TFR to the Call
Report was thought to be valuable
information for estimating the initial
burden for this proposal.
A total of 22 OTS-supervised savings
associations changed charters during the
period reviewed. Six of the 22 savings
associations changed charters to
facilitate an acquisition or merger into
another institution. Two of the 22
savings associations engaged in trust
activities only. Of the remaining 14
savings associations, nine were
contacted by the OTS and asked for
their estimate of the total hours
expended—including systems work and
training for the new reporting—in
converting from the TFR to the Call
Report.
The estimates included two extremes.
One institution estimated zero hours
were expended on the report
conversion. This institution indicated

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they used a service provider for general
ledger and other reporting purposes that
had both TFR filers and Call Report
filers as clients. Hence, the conversion
to the Call Report was very simple and
required zero hours by the institution to
implement the report conversion.
At the other extreme was one
institution’s estimate of 720 hours (600
hours for the TFR-to-Call Report
conversion and 120 hours for the TFR
Schedule HC-to-bank holding company
conversion). However, this institution
experienced significant growth through
acquisitions in the two years prior to its
charter change. Hence, some of the
hours estimated for report conversion
may have been attributable to systems
coordination among acquired entities.
Nevertheless, this institution’s estimate
was included in the calculation of the
average number of hours used to
estimate the initial burden of report
conversion.4
It is typical in calculating averages to
exclude extremes from the low end and
the high end. For conservatism, only the
estimate of zero hours was excluded in
calculating the average number of
estimated hours for initial burden
published in the February 8, 2011
notice. Further, some institutions could
not specifically differentiate between
the hours spent on the TFR-to-Call
Report conversion and the hours spent
on the holding company report
conversion. These institutions either did
not separately track hours for each
process or viewed the conversion for
both reports as one effort. Again for
conservatism, we elected to include
total hours estimated from institutions
(hours related to the TFR-to-Call Report
conversion plus hours related to the
holding company report conversion) for
estimating the initial burden hours
included in the February 8, 2011 notice.
As presented in the notice published
February 8, 2011, the average number of
hours estimated for converting from the
TFR to the Call Report was 188 hours.
The agencies believe this is a fair
estimate of the initial burden of the
proposal.
The trade associations also
commented that the conversion from the
TFR to the Call Report, as proposed,
would be burdensome on the systems of
savings associations and that vendors of
software for generating and reporting
Call Reports may have difficulty helping
savings associations with the report
conversion. It was further stated by one
of the commenters that ‘‘each savings
4 Excluding the two extremes, the range of hours
was 40 hours to 360 hours. If both the high-end and
low-end extremes were excluded, the average
number of estimated burden hours would be 130
hours.

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association would have to evaluate each
reporting line item, find where in their
institution the information may be
obtained, and create systems and
procedures to provide the required
information.’’
The agencies carefully reviewed the
service providers currently used by
savings associations to help manage
information and operation systems. The
FDIC also surveyed several Call Report
software filing vendors to help
determine the overall difficulty of the
proposed conversion from a vendor
perspective.
As stated in the February 8, 2011
notice, there are currently nine vendors
offering software meeting the technical
specifications for producing Call Report
data files that are able to be processed
by the FFIEC’s Central Data Repository
(CDR).5 Based on an analysis by the
OTS, approximately 60 percent of
savings associations use one of the nine
vendors to generate their general
ledgers. Another 20 percent of savings
associations use one of the nine vendors
as their service provider for a system
other than their general ledger, such as
systems for customer information files,
loan processing and underwriting, loan
servicing, or asset/liability management.
Based on a survey of Call Report
software vendors, these vendors already
have a mapping of data items between
the Call Report and the TFR. Hence, it
does not appear that individual savings
associations would generally need to
conduct their own systems mapping of
TFR data items to comparable Call
Report items for filing the Call Report.
The agencies believe this survey
finding, together with the large
percentage of savings associations
already using the services of vendors
familiar with both the TFR and the Call
Report, would appear to help mitigate
the overall difficulty of the proposed
conversion.
One of the trade associations
commented there will be costs
associated with the report conversion
and these costs may rise dramatically if
the conversion implementation occurs
as proposed. The agencies agree there
will be costs associated with the report
conversion. The OTS developed TFR
reporting software and provided that
software free-of-charge to savings
associations to file the TFR. In contrast,
Call Report filers typically use
5 The list of these nine vendors 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.

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commercially available software to file
the Call Report.
However, the agencies do not agree
the costs may rise dramatically if the
conversion implementation occurs as
proposed. Inquiries were made of
vendors regarding the costs of reporting
software, both initial costs and ongoing
costs, as part of the survey of Call
Report software vendors discussed
above. The survey results indicated the
costs of the Call Report filing software
are not significant and average
approximately $1,000 for the initial setup and $1,000 per year depending on
institution asset size.6 Further, vendors
indicated that the method used to obtain
the filing software is simple and
straightforward. Moreover, since most
savings associations already use some
services from vendors that also provide
Call Report filing software, the efforts
needed by vendors to provide Call
Report filing software to the majority of
savings associations is limited.
The agencies carefully considered all
of the burden issues raised by the two
trade associations as reasons for
requesting a one-year delay of the report
conversion implementation. Based on
the agencies’ analyses of burden issues
and surveys or discussions with service
providers and savings association
executives, the agencies have decided to
proceed with the conversion of the TFR
to the Call Report beginning with the
reporting period ending March 31, 2012,
as proposed.
The agencies also considered that
existing rules, regulations, and overall
examination and supervisory
approaches for savings associations will
be realigned to parallel those applied to
all other FDIC-insured banks and
savings institutions. Many of these
rules, regulations, and examination and
supervisory approaches rely on
information gathered from the Call
Report. Moreover, the primary models,
monitoring tools and data reports used
in conducting off-site financial
monitoring and onsite examinations—
such as the Uniform Bank Performance
Report (UBPR)—are produced from Call
Report data. Hence, to help ensure that
overall supervision and supervisory
evaluations are consistent among all
FDIC-insured banks and savings
institutions, the agencies believe it is
vital to have all FDIC-insured banks and
savings institutions use the same
supervisory financial report and filing
processes beginning in 2012.
There were several other comments
submitted by the two trade associations.
6 These costs may vary depending on asset size
as indicated, as well as modules, options, or
additional services requested.

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39987

Both trade associations requested the
agencies allow early adoption of the Call
Report by savings associations. The
agencies considered this request and
have agreed to allow savings
associations to adopt the Call Report
early for report dates following the
transfer date of July 21, 2011.7 The
agencies request that savings
associations planning to file a Call
Report in 2011 for the last two reporting
periods, or the last reporting period,
should notify their primary federal
regulator (and state regulator where
applicable) and the FRD analyst
assigned to their institution at least two
weeks before the Call Report due date
which is 30 calendar days after the
quarter-end report date. This will allow
for the necessary systems adjustments to
the CDR for Call Report collection and
processing. Once a savings association
has elected to adopt the Call Report
early in 2011, it must continue to file
the Call Report for the remainder of the
early adoption period, and such Call
Reports will be subject to all applicable
data standards and requirements.
One trade association requested the
agencies consider allowing institutions
to file Call Reports based on their fiscal
years rather than the requirement to file
on a calendar year basis as currently
required. According to data collected in
the Call Report on institutions’ fiscal
years, there are about 200 current Call
Report filers with fiscal years that do
not align with the calendar year. The
agencies know of no institutions—
including those with fiscal years that do
not align with the calendar year—for
which filing the Call Report using the
calendar year presents filing problems.
Therefore, all institutions will be
requested to file the Call Report on a
calendar year basis.
The agencies encourage feedback
regarding their progress with the report
conversion process. Savings
associations should feel free to contact
their FRD analyst, supervisory caseload
manager, regional director, or contacts
listed on this notice about report
conversion issues.
7 Savings associations that adopt the Call Report
early in 2011 should not file TFR Schedule CMR
unless required to do so by their primary regulator.
In most cases, the filing of Schedule CMR for
savings associations that early adopt the Call Report
would be required if the institution does not yet
have the means to adequately measure and monitor
interest rate risk. Additionally, savings associations
that adopt the Call Report early in 2011, would still
need to submit all other existing OTS regulatory
reports and would be required by the Board to file
TFR Schedule HC through the December 31, 2011
reporting period. As mentioned above in this
notice, the Board is considering the comments
received on its notice of intent and plans to issue
a proposal for comment regarding SLHC reporting
on or after the July 21, 2011, transfer date.

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Further, the agencies will continue to
meet with savings association managers
through various venues. During these
meetings, managers are encouraged to
discuss issues related to the
implementation of the report
conversion.
B. Report Preparation Training
Converting to the Call Report may
require OTS-regulated savings
associations to obtain specific training
for their staff concerning the preparation
and completion of the Call Report. Such
training is offered on a regular basis by
independent trade and professional
organizations.
As stated above, the agencies have
provided a ‘‘mapping’’ of TFR items to
Call Report items to help reduce the
initial burden of report conversion. As
also stated in the February 8, 2011
notice, there are some 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 to
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.
Some 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 errors with respect to the
categorization of data items or material
errors with respect to the recognition
and measurement of an event or
transaction.
3. In the Average Balance Sheet Data
section of TFR Schedule SI—

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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.
The agencies are also participating in
various conferences and tele-briefings to
help assist savings associations with the
transition to the Call Report. The
members of the FFIEC’s Task Force on
Reports are also available to answer
questions that savings associations have
on the Call Report. Additionally,
questions regarding the Call Report can
be directed to the sources listed at the
bottom of the following Financial
Institution Letter: http://www.fdic.gov/
news/news/financial/2011/
fil11019.html.
C. Timing
Savings associations currently
regulated by the OTS would begin filing
the Call Report as of the March 31, 2012,
report date. Savings associations are
permitted to convert early to the Call
Report for report dates following the
transfer date of July 21, 2011, as
described above in this notice. However,
as described above in this notice,
savings associations that early adopt the
Call Report would still need to submit
Schedule HC of the TFR along with all
other existing OTS regulatory reports
through the December 31, 2011,
reporting period. The agencies request
that savings associations planning to
begin filing the Call Report in 2011
notify their primary federal regulator
(and state regulator where applicable)
and the FRD analyst assigned to their
institution at least two weeks before the
Call Report due date, which is 30
calendar days after the quarter-end
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.

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Savings associations that do not
convert to the Call Report prior to the
March 31, 2012, report date will
continue to submit TFRs, including
Schedules HC and CMR (unless an
institution meets the requirements
discussed above in this notice to
discontinue reporting Schedule CMR
after the end of the June 30, 2011
reporting period), and all other existing
OTS regulatory reports through the
December 31, 2011, reporting period,
using the processing, editing, and
validating system currently in use,
which is the Electronic Filing System
established by the OTS.
D. Filing Process
OTS-regulated savings associations
use OTS-developed proprietary software
to file TFRs. Call Reports for other FDICinsured 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 CDR, an
Internet-based system for data collection
at 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 providers 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
interested in pursuing this option.
In summary, after considering the
comments received on the proposal, the
agencies plan to proceed with the
reporting changes proposed and will
submit the proposal to OMB for review
and approval.
Request for Comment
Public comment is requested on all
aspects of this joint notice. Comments
are invited on:
(a) Whether the proposed revisions to
the collections of information that are
the subject of this notice are necessary

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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. All comments will become
a matter of public record.
Dated: June 29, 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, dated: June 30, 2011.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 1st day of
July 2011.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
Dated: July 1, 2011.
Ira L. Mills,
Paperwork Clearance Officer, Office of Chief
Counsel, Office of Thrift Supervision.
[FR Doc. 2011–17100 Filed 7–6–11; 8:45 am]
BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P;
6720–01–P

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
[Docket ID OCC–2011–0012]

Guidance on Deposit-Related
Consumer Credit Products
Office of the Comptroller of the
Currency, Treasury (OCC).
ACTION: Extension of comment period.
sroberts on DSK5SPTVN1PROD with NOTICES

AGENCY:

On June 8, 2011, the OCC
published in the Federal Register a
proposed guidance with request for
comment to clarify the OCC’s

SUMMARY:

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application of the principles of safe and
sound banking practices in connection
with deposit-related consumer credit
products such as automated overdraft
protection and direct deposit advance
programs.
Due to the complexity of the proposed
guidance, and to allow parties more
time to consider its potential impact, the
OCC has determined that an extension
of the comment period until August 7,
2011 is appropriate. This action will
allow interested persons additional time
to analyze the proposed guidance and
prepare their comments.
DATES: Comments must be submitted on
or before August 7, 2011.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by email, if possible. Please use the title
‘‘Guidance on Deposit-Related
Consumer Credit Products’’ to facilitate
the organization and distribution of the
comments. You may submit comments
by any of the following methods:
• E-mail:
[email protected].
• Mail: Office of the Comptroller of
the Currency, 250 E Street, SW., Mail
Stop 2–3, Washington, DC 20219.
• Fax: (202) 874–5274.
• Hand Delivery/Courier: 250 E
Street, SW., Mail Stop 2–3, Washington,
DC 20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
ID OCC–2011–0012’’ in your comment.
In general, OCC will enter all comments
received into the docket and publish
them on the Regulations.gov Web site
without change, including any business
or personal information that you
provide such as name and address
information, e-mail 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
enclose 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
notice by any of the following methods:
• Viewing Comments Personally: You
may personally inspect and photocopy
comments at the OCC, 250 E Street,
SW., Washington, DC. 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

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will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
• Docket: You may also view or
request available background
documents and project summaries using
the methods described above.
FOR FURTHER INFORMATION CONTACT:
Michael S. Bylsma, Director,
Community and Consumer Law
Division, (202) 874–5750; Grovetta
Gardineer, Deputy Comptroller for
Compliance Policy, (202) 874–4428; or
Kevin Russell, Director, Retail Credit
Risk, (202) 874–5170, Office of the
Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: On June 8,
2011, the proposed guidance was
published in the Federal Register.1 The
proposed guidance would detail the
principles that the OCC expects national
banks to follow in connection with any
deposit-related consumer credit product
to address potential operational,
reputational, compliance, and credit
risks. The request for comment stated
that the public comment period would
close on July 8, 2011.2
Pursuant to Title III of the Dodd-Frank
Wall Street Reform and Consumer
Protection Act, effective July 21, 2011,
all functions of the Office of Thrift
Supervision (OTS) and the Director of
the OTS relating to Federal savings
associations is transferred to the OCC.
As a result, the OCC will assume
responsibilities for the ongoing
examination, supervision, and
regulation of Federal savings
associations. Any final guidance on
deposit-based credit products in effect
for national banks on or after July 21,
2011 will also apply to Federal savings
associations.
The OCC has received requests from
the public for an extension of the
comment period. In order to allow
parties, particularly Federal savings
associations, additional time to consider
the impact of the proposal, the OCC is
extending the deadline for submitting
comments on the proposed guidance
from July 8, 2011 to August 7, 2011.
Dated: June 30, 2011.
John Walsh,
Acting Comptroller of the Currency.
[FR Doc. 2011–16942 Filed 7–6–11; 8:45 am]
BILLING CODE 4810–33–P
1 See
2 See

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76 FR 33,409.
id.

07JYN1