Insured financial institutions must provide quarterly reports of condition and income (Call Reports) to the appropriate regulatory agency for supervisory, surveillance, regulatory, research, insurance assessment and informational purposes.
Section 7 of the Federal Deposit Insurance Act requires all insured depository institutions to submit four "reports of condition" each year to their primary federal bank supervisory authority, i.e., the FDIC, the OCC, or the FRB, as appropriate. FDIC-supervised institutions, i.e., insured state nonmember banks and state savings associations, submit these reports to the FDIC. The FDIC uses the quarterly Call Reports to monitor the condition and performance of individual institutions and the industry as a whole. In addition, Call Reports provide the FDIC with the most current statistical data available for evaluating depository institution corporate applications such as mergers; identifying areas of focus for both on-site and off-site examinations; calculating all insured institutions' deposit insurance and Financing Corporation assessments; and other public purposes. Within the Call Report information collection system, separate sets of forms apply to institutions that have domestic and foreign offices (FFIEC 031) and to institutions with domestic offices only (FFIEC 041).
The proposed revisions to the Call Report that are the subject of this request, which would involve quarterly reporting unless otherwise indicated, and their effective dates are summarized as follows
⢠Effective March 31, 2014, institutions would begin to report:
o Information about international remittance transfers, which would be collected initially as of March 31, 2014, and, in general, semiannually thereafter as of each June 30 and December 31 (new item 16 of Schedule RC-M, Memoranda). All institutions would respond to yes-no questions about remittance transfer activity, and institutions with more than 100 transactions per calendar year would report the estimated number and dollar value of remittance transfers;
o Any trade names (other than an institution's legal title) used to identify physical offices and the addresses of any public-facing Internet Web sites (other than the institution's primary Internet Web site address, which is currently reported) at which the institution accepts or solicits deposits from the public (revised item 8 of Schedule RC-M);
o A response to a yes-no question asking whether the reporting institution offers any deposit account products (other than time deposits) primarily intended for consumers (new Memorandum item 5 of Schedule RC-E, Deposit Liabilities); and
o For institutions with $1 billion or more in total assets that offer one or more deposit account products (other than time deposits) primarily intended for consumers, the total balances of these consumer deposit account products (new Memorandum items 6 and 7 of Schedule RC-E).
⢠Effective March 31, 2015, institutions with $1 billion or more in total assets that offer one or more deposit account products (other than time deposits) primarily intended for consumers would begin to report the amount of income earned from each of three categories of service charges on their consumer deposit account products (new Memorandum item 15 of Schedule RI, Income Statement). This income is included in total year-to-date service charges on deposit accounts, which institutions currently report in Schedule RI, item 5.b.
The Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) are also submitting these changes for OMB review for the banks and savings associations under their supervision.
US Code:
12 USC 1817(a)
Name of Law: Federal Deposit Insurance Act
The change in burden associated with this submission is caused by the proposed changes to the Call Report that are the subject of this submission.
At present, there are 4,325 FDIC-supervised institutions. As mentioned in Item 13 above, the FDIC estimates that the overall effect of the proposed revisions to the Call Report across the full range of institutions under its supervision would be an average increase in the burden estimate of nearly three quarters of an hour per response. The analysis of the change in burden for the Call Report as it is proposed to be revised effective March 31, 2014, and March 31, 2015, is as follows:
Currently approved burden 726,946 hours
Adjustment (change in use) 0 hours
Revisions to content of report (program change) + 12,629 hours
Requested (new) burden 739,575 hours
Net change in burden + 12,629 hours
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 FFIEC 031 Consolidated Reports of Condition and Income (Call Report)
FR2-0052 Call Report 2014-1-14.pdf
SPST-0052 Call Report 314xSupporting Statement Feb 2013 Proposed Changes 030514.doc
Consolidated Reports of Condition and Income (Call Report)