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 as it is
proposed to be revised, separate report forms apply to institutions
that have domestic and foreign offices (FFIEC 031) and to
institutions with domestic offices only (FFIEC 041 and, for those
with total assets less than $5 billion, FFIEC 051). The proposed
rule would implement section 205 of the Economic Growth, Regulatory
Relief, and Consumer Protection Act by: expanding the eligibility
to file the agencies’ most streamlined report of condition, the
FFIEC 051 Call Report, to include certain insured depository
institutions with less than $5 billion in total consolidated assets
that meet other criteria; and, establishing reduced reporting on
the FFIEC 051 Call Report for the first and third reports of
condition for a year.
Pursuant to the Office
of Management and Budget's Paperwork Reduction Act emergency
processing procedures (5 CFR § 1320.13), the Federal Deposit
Insurance Corporation (FDIC), in coordination with the Board of
Governors of the Federal Reserve System (Board), and the Office of
the Comptroller of the Currency (OCC), (collectively, the
"agencies"), each of which is submitting a separate request for
emergency PRA clearance, hereby requests immediate approval of
revisions to the above-referenced information collections. The FDIC
has 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 C.F.R. § 1320.12; (2) this collection
of information is essential to the mission of the FDIC; and (3) the
FDIC 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. Summary of Revisions In response to the
recent market disruptions due to COVID-19, the agencies have issued
several interim final rules to encourage banks to continue lending
to households and businesses. These rules all affect the
calculation of risk-based capital for banking organizations
effective for the first quarter of 2020, for the Call Report
quarter ending March 31, 2020, and for advanced approaches and
Category III banking organizations filing the FFIEC 101. While the
Call Report would typically be due by April 30, 2020, the agencies
are permitting institutions an additional 30-day grace period to
file due to the ongoing disruptions from COVID-19. A summary of the
three rules and the related reporting changes are provided in the
Addendum to the existing Supporting Statement submitted by the FDIC
for each of these information collections, which is being submitted
to OMB with this request. The interim final rules affect
instructions for data items on the Call Report, and instructions
for data items on the FFIEC 101 report. In addition, on March 27,
2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES
Act) became law. Section 4013 of the CARES Act permits banking
organizations flexibility in modifying loans related to COVID-19.
The statute also permits the agencies to collect information about
the volume of loans modified under this section. Since the agencies
anticipate a significant amount of activity related to these
modifications will occur in the second quarter, 2020, the agencies
are requesting emergency clearance to add a new reporting item for
these loans. A new data item would be added to the Call Report
forms starting in the second quarter of 2020. The revisions to this
information collection through interim final rules prevent the FDIC
from clearing the collection under 5 C.F.R. § 1320.11, which covers
only collections of information contained in proposed rules. As
noted in 5 C.F.R. § 1320.5(c)(1), the FDIC must clear the
collection under 5 C.F.R. § 1320.10, which relates to information
collections not contained in proposed rules or current rules. There
is insufficient time to obtain clearance under 5 C.F.R. § 1320.10
prior to the rules’ effective dates in March 2020. Therefore, the
FDIC is requesting emergency clearance for these revisions. The
agencies plan to request comment on the revisions after the
emergency clearance through the standard PRA process, including
both 60-day and 30-day notices with requests for comment.
PL:
Pub.L. 115 - 174 205 Name of Law: Economic Growth, Regulatory
Relief, and Consumer Protection Act of 2018
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
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 051 Consolidated Report of Condition and Income (Call Report) for Bank with Domestic Offices Only and Total Assets Less than $5 Billion - FFIEC 051
Emergency Clearance SPST Addendum FDIC Call Report and FFIEC 101.docx
Consolidated Report of Condition and Income (Call Report) for Bank with Domestic Offices Only and Total Assets Less than $5 Billion - FFIEC 051