The FFIEC 101 must be filed quarterly
by certain large or internationally active state member banks, bank
holding companies (BHCs), savings and loan holding companies
(SLHCs), intermediate holding companies (IHCs), and also for those
institutions that adopt the framework on a voluntary basis. The
Dodd-Frank Wall Street Reform and Consumer Protection Act
(Dodd-Frank Act), the Federal Deposit Insurance Act (FDI Act) and
the International Lending Supervision Act of 1983 (ILSA) require
the agencies to have risk-based capital requirements and to ensure
that banks maintain adequate capital. The Board uses these data to
assess and monitor the levels and components of each reporting
entity’s risk-based capital requirements and the adequacy of the
entity’s capital under the framework. These data also allow the
Board to evaluate the quantitative impact and competitive
implications of the framework on individual respondents and on the
financial industry. The reporting schedules also assist banks in
understanding expectations surrounding the system development
necessary for implementation and validation of the framework. The
submitted data that is released publicly also provide other
interested parties with information about banks’ risk-based
capital. Finally, the submitted data supplement on-site examination
processes.
The agencies propose
under the emergency clearance provisions of OMB’s regulations to
revise the FFIEC 101 for the June 30, 2018, report date. The
agencies have determined that (1) the collection of information
within the scope of this request is needed prior to the expiration
of time periods established under 5 CFR 1320.10, (2) this
collection of information is essential to the mission of the
agencies, and (3) the agencies cannot reasonably comply with the
normal clearance procedures because an unanticipated event has
occurred and the use of normal clearance procedures is reasonably
likely to prevent or disrupt the collection of information. These
revisions arise from Congressional enactment of the Economic
Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA).
Section 214 of EGRRCPA requires the agencies to revise the
definition of high volatility commercial real estate (HVCRE)
exposures that institutions use to calculate risk-weighted assests
and, hence, risk-based capital ratios. This provision became
effective automatically when the law was signed on May 24, 2018.
The agencies must receive data from the quarterly FFIEC 101 report
to assess and monitor the levels and components of each reporting
entity’s risk-based capital requirements and the adequacy of the
entity’s capital under the framework. The next reports are due at
the end of August 2018, based on information available as of June
30, 2018. In order for the agencies to implement section 214 as
required by law, the agencies cannot comply with the normal
clearance process and still receive the June 30, 2018, financial
data in a timely manner.
US Code:
12
USC 324 Name of Law: Federal Reserve Act
US Code: 12
USC 1844(c) Name of Law: Bank Holding Company Act
US Code:
12 USC 1467a(b)(2) Name of Law: Homeowners’ Loan Act
US Code: 12
USC 5365 Name of Law: Dodd-Frank Act
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.
FFIEC101_20180731_omb_emergency.pdf
SMBs