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, 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. • Effective March 31, 2015, there
are proposed revisions to the risk-weighted assets portion of
Schedule RC-R, Regulatory Capital, and to line items related to
securities lent and borrowed in Schedule RC-L, Derivatives and
Off-Balance Sheet Items 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
US Code: 12 USC 1817(a) Name of Law:
Dodd-Frank Act
There was a reduction in the
estimated number of respondents, but an increase in the amount of
burden, resulting in an overall increase in burden of about
2.5%.
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)
SPST-0052 Call Report 315xSupporting Statement RC-R 021815.doc
Consolidated Reports of Condition and Income (Call Report)