Initial 60-day Federal Register Notice

10644

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices

obligation on the part of the
government.
Signed in Washington, DC, on February 14,
2023.
Christopher Coes,
Assistant Secretary for Transportation Policy,
Department of Transportation.
[FR Doc. 2023–03396 Filed 2–17–23; 8:45 am]
BILLING CODE 4910–9X–P

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities; Comment
Request
Office of the Comptroller of the
Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint notice and request for
comment.
AGENCY:

In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (PRA), the OCC,
the Board, and the FDIC (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
Management and Budget (OMB) control
number. The Federal Financial
Institutions Examination Council
(FFIEC), of which the agencies are
members, has approved the agencies’
publication for public comment of a
proposal to revise and extend for three
years the Consolidated Reports of
Condition and Income (Call Reports)
(FFIEC 031, FFIEC 041, and FFIEC 051),
which are currently approved
collections of information. The FFIEC
has also approved the Board’s
publication for public comment, on
behalf of the agencies, of a proposal to
revise and extend for three years the
Report of Assets and Liabilities of U.S.
Branches and Agencies of Foreign Banks
(FFIEC 002), and the Report of Assets
and Liabilities of a Non-U.S. Branch that
is Managed or Controlled by a U.S.
Branch or Agency of a Foreign (NonU.S.) Bank (FFIEC 002S), which are also
currently approved collections of
information. The agencies are requesting
comment on: proposed revisions to
eliminate and consolidate items in the
Call Reports and the FFIEC 002

lotter on DSK11XQN23PROD with NOTICES1

SUMMARY:

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

resulting from the statutorily mandated
full review of the Call Reports as
required under Section 604 of the
Financial Services Regulatory Relief Act
of 2006; proposed Call Report process
revisions; and reporting of certain
Federal Home Loan Mortgage
Corporation and similar securitizations
on the Call Report. The changes to the
Call Reports and FFIEC 002 are
proposed to take effect as of the June 30,
2023, report date.
DATES: Comments must be submitted on
or before April 24, 2023.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments
will be shared among the agencies.
OCC: You may submit comments, by
any of the following methods:
• Email: [email protected].
• Mail: Chief Counsel’s Office, Office
of the Comptroller of the Currency,
Attention: 1557–0081, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0081’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email 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 include 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
information collection beginning on the
date of publication of the second notice
for this collection by the following
method:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0081.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.

PO 00000

Frm 00150

Fmt 4703

Sfmt 4703

• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
Board: You may submit comments,
which should refer to ‘‘Call Report and
FFIEC 002 Revisions,’’ by any of the
following methods:
• Agency Website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Email: regs.comments@
federalreserve.gov. Include ‘‘Call Report
and FFIEC 002 Revisions’’ in the subject
line of the message.
• Fax: (202) 395–6974.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available on
the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information.
FDIC: You may submit comments,
which should refer to ‘‘Call Report and
FFIEC 002 Revisions,’’ by any of the
following methods:
• Agency Website: https://
www.fdic.gov/resources/regulations/
federal-register-publications/. Follow
the instructions for submitting
comments on the FDIC’s website.
• Email: [email protected].
Include ‘‘Call Report and FFIEC 002
Revisions’’ in the subject line of the
message.
• Mail: Manuel E. Cabeza, Counsel,
Attn: Comments, Room MB–3128,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street NW
building (located on F Street NW) on
business days between 7:00 a.m. and
5:00 p.m.
• Public Inspection: All comments
received will be posted without change
to https://www.fdic.gov/resources/
regulations/federal-registerpublications/, including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
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

E:\FR\FM\21FEN1.SGM

21FEN1

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
[email protected].
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the information collections
discussed in this notice, please contact
any of the agency staff whose names
appear below. In addition, copies of the
report forms for the Call Reports can be
obtained at the FFIEC’s website (https://
www.ffiec.gov/ffiec_report_forms.htm).
OCC: Kevin Korzeniewski, Counsel,
Chief Counsel’s Office, (202) 649–5490.
If you are deaf, hard of hearing, or have
a speech disability, please dial 7–1–1 to
access telecommunications relay
services.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, 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: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
I. Affected Reports
The proposed changes discussed
below affect the Call Reports and the
FFIEC 002.

lotter on DSK11XQN23PROD with NOTICES1

A. Call Report
The agencies propose to extend for
three years, with revision, their
information collections associated with
the FFIEC 031, FFIEC 041, and FFIEC
051 Call Reports.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: FFIEC 031
(Consolidated Reports of Condition and
Income for a Bank with Domestic and
Foreign Offices), FFIEC 041
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only), and FFIEC 051
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only and Total Assets Less Than
$5 Billion).
Frequency of Response: Quarterly.
Affected Public: Business or other forprofit.
Type of Review: Revision and
extension of currently approved
collections.
OCC:
OMB Control No.: 1557–0081.

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

Estimated Number of Respondents:
1,042 national banks and federal savings
associations.
Estimated Average Burden per
Response: 41.97 burden hours per
quarter to file.
Estimated Total Annual Burden:
174,931 burden hours to file.
Board:
OMB Control No.: 7100–0036.
Estimated Number of Respondents:
702 state member banks.
Estimated Average Burden per
Response: 45.18 burden hours per
quarter to file.
Estimated Total Annual Burden:
126,865 burden hours to file.
FDIC:
OMB Control No.: 3064–0052.
Estimated Number of Respondents:
3,076 insured state nonmember banks
and state savings associations.
Estimated Average Burden per
Response: 39.93 burden hours per
quarter to file.
Estimated Total Annual Burden:
491,299 burden hours to file.
The estimated average burden hours
collectively reflect the estimates for the
FFIEC 031, the FFIEC 041, and the
FFIEC 051 reports for each agency.
When the estimates are calculated by
type of report across the agencies, the
estimated average burden hours per
quarter are 85.75 (FFIEC 031), 56.26
(FFIEC 041), and 35.15 (FFIEC 051). The
changes to the Call Report forms and
instructions proposed in this notice
resulted in the following estimated
changes in burden hours per quarter.
For the FFIEC 031 report, the revisions
resulted in an average decrease across
all agencies of approximately 0.7 hours
per quarter; for the FFIEC 041 report,
the revisions resulted in an average
increase across all agencies of
approximately 0.73 hours per quarter;
and for the FFIEC 051 report, the
revisions resulted in an average
decrease across all agencies of
approximately 0.23 hours per quarter.
Generally, the proposed revisions
related to the statutorily mandated
review would result in a decrease in
average burden for all report types.
However, changes in the number of
institutions filing each type of report,
and changes to the amount of data items
reported in each report since December
31, 2021, resulted in an average increase
across all agencies in estimated burden
for the FFIEC 041. The estimated burden
per response for the quarterly filings of
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

PO 00000

Frm 00151

Fmt 4703

Sfmt 4703

10645

activities in which they are engaged,
and existence of foreign offices).
Type of Review: Extension and
revision of currently approved
collections. In addition to the proposed
revisions discussed below, Call Reports
are periodically updated to clarify
instructional guidance and correct
grammatical and typographical errors on
the forms and instructions, which are
published on the FFIEC website.1 These
non-substantive updates may also be
commented upon.
Legal Basis and Need for Collections
The Call Report information
collections are mandatory: 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state
member banks), 12 U.S.C. 1817 (insured
state nonmember commercial and
savings banks), and 12 U.S.C. 1464
(federal and state savings associations).
At present, except for selected data
items and text, these information
collections are not given confidential
treatment.
Banks and savings associations
submit Call Report data to the agencies
each quarter for the agencies’ use in
monitoring the condition, performance,
and risk profile of individual
institutions and the industry as a whole.
Call Report data serve a regulatory or
public policy purpose by assisting the
agencies in fulfilling their shared
missions of ensuring the safety and
soundness of financial institutions and
the financial system and protecting
consumer financial rights, as well as
agency-specific missions affecting
federal and state-chartered institutions,
such as conducting monetary policy,
ensuring financial stability, and
administering federal deposit insurance.
Call Reports are the source of the most
current statistical data available for
identifying areas of focus for on-site and
off-site examinations. Among other
purposes, the agencies use Call Report
data in evaluating institutions’ corporate
applications, including interstate merger
and acquisition applications for which
the agencies are required by law to
determine whether the resulting
institution would control more than 10
percent of the total amount of deposits
of insured depository institutions in the
United States. Call Report data also are
used to calculate the risk-based
assessments for insured depository
institutions.
B. FFIEC 002 and 002S
The Board proposes to extend for
three years, with revision, the FFIEC
002 and FFIEC 002S reports.
1 www.ffiec.gov/forms031.htm; www.ffiec.gov/
forms041.htm; www.ffiec.gov/forms051.htm.

E:\FR\FM\21FEN1.SGM

21FEN1

10646

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices

lotter on DSK11XQN23PROD with NOTICES1

Report Titles: Report of Assets and
Liabilities of U.S. Branches and
Agencies of Foreign Banks; Report of
Assets and Liabilities of a Non-U.S.
Branch that is Managed or Controlled by
a U.S. Branch or Agency of a Foreign
(Non-U.S.) Bank.
Form Numbers: FFIEC 002; FFIEC
002S.
OMB Control Number: 7100–0032.
Frequency of Response: Quarterly.
Affected Public: Business or other forprofit.
Respondents: All state-chartered or
federally-licensed U.S. branches and
agencies of foreign banking
organizations, and all non-U.S. branches
managed or controlled by a U.S. branch
or agency of a foreign banking
organization.
Estimated Number of Respondents:
FFIEC 002—209; FFIEC 002S—38.
Estimated Average Burden per
Response: FFIEC 002—24.87 hours;
FFIEC 002S—6.0 hours.
Estimated Total Annual Burden:
FFIEC 002—20,791 hours; FFIEC 002S—
912 hours.
Type of Review: Extension and
revision of currently approved
collections.
The proposed revisions to the FFIEC
002 instructions in this notice would
not have a material impact on the
existing burden estimates.
Legal Basis and Need for Collection
On a quarterly basis, all U.S. branches
and agencies of foreign banks are
required to file the FFIEC 002, which is
a detailed report of condition with a
variety of supporting schedules. This
information is used to fulfill the
supervisory and regulatory requirements
of the International Banking Act of
1978. The data also are used to augment
the bank credit, loan, and deposit
information needed for monetary policy
and other public policy purposes. In
addition, FFIEC 002 data are used to
calculate the risk-based assessments for
FDIC-insured U.S. branches of foreign
banks. The FFIEC 002S is a supplement
to the FFIEC 002 that collects
information on assets and liabilities of
any non-U.S. branch that is managed or
controlled by a U.S. branch or agency of
the foreign bank. A non-U.S. branch is
managed or controlled by a U.S. branch
or agency if a majority of the
responsibility for business decisions,
including but not limited to decisions
with regard to lending or asset
management or funding or liability
management, or the responsibility for
recordkeeping in respect of assets or
liabilities for that foreign branch resides
at the U.S. branch or agency. A separate
FFIEC 002S must be completed for each

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

managed or controlled non-U.S. branch.
The FFIEC 002S must be filed quarterly
along with the U.S. branch or agency’s
FFIEC 002.
These information collections are
mandatory (12 U.S.C. 3105(c)(2),
1817(a)(1) and (3), and 3102(b)). Except
for select sensitive items, the FFIEC 002
is not given confidential treatment; the
FFIEC 002S is given confidential
treatment (5 U.S.C. 552(b)(4) and (8)).
The data from both reports are used for
(1) monitoring deposit and credit
transactions of U.S. residents; (2)
monitoring the impact of policy
changes; (3) analyzing structural issues
concerning foreign bank activity in U.S.
markets; (4) understanding flows of
banking funds and indebtedness of
developing countries in connection with
data collected by the International
Monetary Fund and the Bank for
International Settlements that are used
in economic analysis; and (5) assisting
in the supervision of U.S. offices of
foreign banks. The Federal Reserve
System collects and processes these
reports on behalf of all three agencies.
II. Current Actions
A. Statutorily Mandated Review of the
Call Report
1. Background
Section 604 of the Financial Services
Regulatory Relief Act of 2006 requires
the agencies to perform within one year
of enactment and every five years
thereafter, the review of information
collected in the Call Reports (statutorily
mandated review) to ‘‘reduce or
eliminate any requirement to file
information or schedules under
paragraph (3) (other than information or
schedules that are otherwise required by
law)’’ if the agencies determine that ‘‘the
continued collection of such
information or schedules is no longer
necessary or appropriate.’’ 2 The
agencies conducted the 2022 statutorily
mandated review between June 2021
and March 2022.3 Over this period, staff
2 12

U.S.C. 1817(a)(11).
2017 statutorily mandated review was
accelerated as part of the 2014 FFIEC initiative to
identify potential opportunities to reduce burden
associated with the Call Report requirements for
community banks. The initiative resulted in the
creation of a new streamlined FFIEC 051 Call
Report for eligible small institutions that took effect
as of the March 31, 2017, report date. It also
resulted in significant reductions to the number of
data items reported, changes in the frequency of
items collected, and increases in reporting
thresholds for certain data items on the FFIEC 041
and the FFIEC 031 Call Reports. In addition, the
agencies issued a final rule in June 2019
implementing Section 205 of the Economic Growth,
Regulatory Relief, and Consumer Protection Act,
expanding the eligibility for institutions to
complete the FFIEC 051 Call Report. See 84 FR
29039 (June 21, 2019).
3 The

PO 00000

Frm 00152

Fmt 4703

Sfmt 4703

at the FFIEC member entities who are
users of Call Report data, representing a
wide variety of functional areas,
participated in a series of three surveys
and conducted an analysis of recent
reporting by Call Report respondents.
As an integral part of these surveys,
users were asked to explain the need for
the continued collection of each Call
Report data item, how the data item is
used, the frequency with which it is
needed, and the threshold for the
population of institutions by asset size
from which it is required. Based on
these survey results, the agencies are
proposing certain revisions in this
notice.
2. Proposed Call Report Revisions
FDIC Loss-Sharing Agreements Items
FDIC loss-sharing agreements
indemnified institutions for certain
losses incurred on specified assets
acquired from failed insured depository
institutions or otherwise purchased
from the FDIC that are covered by such
agreements with the FDIC. Under a losssharing agreement, the FDIC agreed to
absorb a portion of the losses on a
specified pool of a failed insured
depository institution’s assets to
maximize asset recoveries and minimize
the FDIC’s losses. The number of
institutions reporting on the related
items has decreased as loans, other real
estate, and other assets covered by losssharing agreements with the FDIC have
largely been paid-off or sold.
Additionally, all loss-sharing
agreements have expired or have been
terminated. Therefore, the agencies no
longer consider the current level of
detail on these agreements to be
appropriate and are proposing to
eliminate the following associated
items:
• For all versions of the Call Report,
Schedule RC–F, Other Assets, item 6.d,
‘‘FDIC loss-sharing indemnification
assets,’’ which represent the carrying
amount of the right to receive payments
from the FDIC for losses incurred under
loss-sharing agreements.
• For FFIEC 031 and FFIEC 041,
Schedule RC–M, Memoranda, item 13,
‘‘Assets covered by loss-agreements
with the FDIC,’’ including each subitem
13.a.(1)(a)(1) through 13.d. These items
include, for each appropriate class of
asset, the balance sheet carrying amount
of all assets acquired from failed insured
depository institutions or otherwise
purchased from the FDIC that are
covered by loss-sharing agreements.
• For the FFIEC 031, item 13.b.(6),
‘‘In foreign offices.’’
• For FFIEC 031 and FFIEC 041,
Schedule RC–N, Past Due and

E:\FR\FM\21FEN1.SGM

21FEN1

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices
Nonaccrual Loans, Leases, and Other
Assets, item 12, ‘‘Loans and leases
reported in items 1 through 8 above that
are covered by loss-sharing agreements
with the FDIC,’’ including each subitem
12.a.(1)(a) through 12.f. Items 12.a.(1)(a)
through 12.e include the amount of all
loans and leases covered by FDIC losssharing agreements that are past due 30
days or more or are in nonaccrual status
as of the report date. Item 12.f includes
the associated maximum amount
recoverable from the FDIC, beyond the
amount reflected in the loss-sharing
indemnification assets.
• For the FFIEC 051, Schedule SU,
Supplemental Information, item 9 ‘‘Does
the institution have assets covered by
FDIC loss-sharing agreements?’’ and
items 9.a through 9.e, which report, as
appropriate, the amount of loans, leases
and other real estate owned that are
covered by FDIC loss-sharing
agreements, and details of amounts that
are past due 30 days or more or are in
nonaccrual status, and the maximum
amount recoverable from the FDIC.

lotter on DSK11XQN23PROD with NOTICES1

Noncash Income From Negative
Amortization Loans
Negative amortization loans
contractually permit a borrower to make
minimum periodic payments that are
less than the full amount of interest
owed to the lender, with the unpaid
interest added to the loan’s principal
balance. Based on the results of the 2022
statutorily mandated full review, the
agencies are proposing to remove one
item related to negative amortization
loans. The agencies are proposing this
removal based on the decline in volume
of institutions reporting of noncash
income on negative amortization loans
secured by 1–4 family residential
properties to a level no longer deemed
necessary to collect. The agencies would
be able to continue monitoring the level
of activity on negative amortization
loans by reviewing the data reported on
Schedule RC–C, Memorandum items 8.a
through 8.c. Therefore, for all versions
of the Call Report, the agencies are
proposing to remove Schedule RI,
Income Statement, Memorandum item
12, ‘‘Noncash income from negative
amortization on closed end loans
secured by 1–4 family residential
properties.’’
Reverse Mortgages Items
A reverse mortgage is an arrangement
in which a homeowner borrows against
the equity in a principal residence and
receives cash either in a lump sum or
through periodic payments and no
payment is required from the borrower
until the home is no longer used as the
borrower’s principal residence. Based

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

on the results of the 2022 statutorily
mandated full review, the agencies no
longer need the current level of detail
on this activity and are proposing, for
all versions of the Call Report, to
consolidate the subitems reported in
Schedule RC–C, Loans and Lease
Financing Receivables, Part I, Loans and
Leases, Memorandum item 15, ‘‘Reverse
mortgages,’’ 4 which is completed
annually in the December report only.
Specifically, the proposal would
consolidate Memorandum item 15.a.(1)
and Memorandum item 15.a.(2) into
Memorandum item 15.a, ‘‘Reverse
mortgages outstanding that are held for
investment (included in Schedule RC–
C, item 1.c, above).’’ Similarly,
Memorandum item 15.b.(1) and
Memorandum item 15.b.(2) would be
consolidated into Memorandum item
15.b, ‘‘Estimated number of reverse
mortgage loan referrals to other lenders
during the year from whom
compensation has been received for
services performed in connection with
the origination of the reverse
mortgages.’’ Finally, Memorandum item
15.c.(1) and Memorandum item 15.c.(2)
would be consolidated into
Memorandum item 15.c, ‘‘Principal
amount of reverse mortgage originations
that have been sold during the year.’’
Paycheck Protection Program and
Federal Reserve Facilities Items
To enhance the functioning of money
markets in response to the outbreak of
the coronavirus disease 2019 and to
bolster the effectiveness of the Small
Business Administration’s Paycheck
Protection Program (PPP),5 the Board,
with the approval of the Secretary of the
Treasury, established in 2020 the Money
Market Mutual Fund Liquidity Facility
(MMLF) and Paycheck Protection
Program Liquidity Facility (PPPLF).6
Under the MMLF, the Federal Reserve
Bank of Boston extended loans to
eligible borrowers to purchase assets
from money market mutual funds,
which were posted as collateral to the
facility. Under the PPPLF, Federal
Reserve Banks extended loans to eligible
borrowers that were secured by covered
loans originated under the PPP. In
March 2020 and April 2020, the
agencies published interim final rules
4 For FFIEC 031 only, ‘‘Reverse mortgages in
domestic offices.’’
5 See https://www.sba.gov/funding-programs/
loans/covid-19-relief-options/paycheck-protectionprogram.
6 These facilities were established pursuant to
section 13(3) of the Federal Reserve Act (12 U.S.C.
343(3)). See https://www.federalreserve.gov/
monetarypolicy/mmlf.htm and https://
www.federalreserve.gov/monetarypolicy/ppplf.htm.
The PPPLF was previously known as the Paycheck
Protection Program Lending Facility.

PO 00000

Frm 00153

Fmt 4703

Sfmt 4703

10647

(subsequently finalized in October
2020), which permit banking
organizations to exclude from regulatory
capital requirements exposures related
to the MMLF and PPPLF.7 On June 26,
2020, the FDIC adopted a final rule
modifying the deposit insurance
assessment regulations to mitigate the
assessment effects of participation in the
MMLF, PPP and the PPPLF, as reported
on the Call Report.8 Starting with the
June 30, 2020, report date, banking
organizations report amounts related to
the MMLF, the PPP and PPPLF on
Schedule RC–M, Memoranda. When
adding these items, the agencies noted
that these items were expected to be
time-limited and would be reviewed in
connection with the 2022 statutorily
mandated review of the Call Report.9
The MMLF ceased extending credit
on March 31, 2021, and as of April 30,
2021, the outstanding amount of loans
under the facility was zero dollars.10
The agencies are therefore proposing to
remove Schedule RC–M, Memoranda,
item 18.a, ‘‘Outstanding balance of
assets purchased under the MMLF’’ and
18.b, ‘‘Quarterly average amount of
assets purchased under the MMLF and
excluded from ‘‘Total assets for the
leverage ratio’’ reported in Schedule
RC–R, Part I, item 30’’ on all versions of
the Call Reports.
The PPP ended on May 31, 2021, and
the PPPLF ceased offering credit on July
30, 2021. However, during the 2022
statutorily mandated full review, the
number and outstanding balance of PPP
loans, along with the related
outstanding balance pledged to the
PPPLF, as reported by institutions on
Schedule RC–M, items 17.a, 17.b and
17.c, were identified as continuing to be
critical in the review of asset quality
and other components of the Uniform
Financial Institutions Rating System
used by the agencies during safety and
soundness examinations. In addition,
item 17.b, outstanding balance of PPP
loans along with items 17.d.(1) and
17.d.(2) that collect information on the
remaining maturity of the outstanding
balances of borrowings from the Federal
Reserve Banks under the PPPLF were
deemed required for FDIC deposit
insurance assessment purposes. Finally,
item 17.e, ‘‘Quarterly average amount of
PPP loans pledged to the PPPLF and
excluded from ‘‘Total assets for the
leverage ratio’’ reported in Schedule
RC–R, Part I, item 30’’ continues to be
7 85 FR 16232 (March 23, 2020), 85 FR 20387
(April 13, 2020) and 85 FR 68243 (October 28,
2020).
8 85 FR 38282 (June 26, 2020).
9 85 FR 44366 (July 22, 2020).
10 See https://www.federalreserve.gov/
monetarypolicy/mmlf.htm.

E:\FR\FM\21FEN1.SGM

21FEN1

10648

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices

needed for regulatory capital purposes.
The agencies will continue to monitor
the PPP-related data items and plan to
propose to discontinue the collection of
these items once the aggregate industry
activity has diminished to a point where
individual institution information is of
limited practical utility and is no longer
needed for the purposes described
above.
3. Proposed Revisions to FFIEC 002
To maintain consistency of reporting
between the Call Report and the FFIEC
002, and for the same reasons described
earlier, the Board is proposing to
remove the following item:
• Schedule O, Other Data for Deposit
Insurance Assessments, Memorandum
item 7, ‘‘Quarterly average amount of
holdings of assets purchased from
money market funds under the Money
Market Mutual Fund Liquidity
Facility.’’
The Board would plan to remove
Schedule O, Memorandum item 6,
‘‘Outstanding balance of Paycheck
Protection Program (PPP) loans’’
contemporaneous with removal of the
PPP loan items on the Call Report as
described above.
B. Proposed Call Report Process
Revisions
In addition to the proposed revisions
to the Call Report, the agencies are
requesting comment on two proposed
process improvements to streamline
preparation of the Call Report.

lotter on DSK11XQN23PROD with NOTICES1

Format of Call Report Instructions

accessing the instructions electronically.
Therefore, the agencies are seeking
comment on the benefits and burdens,
if any, of maintaining the PDF format of
the instructions and updates only
instead of continuing to support the
binder format.
Optional Tax Worksheet
Each quarter the FFIEC and FDIC
make available on their websites the
optional tax worksheet, which is
designed to assist certain institutions in
the calculation of applicable income
taxes for the year-to-date reporting
period on the FFIEC 041 and FFIEC 051
Call Reports. Institutions are not
required to use the optional tax
worksheet and may use any reasonable
approach for reporting applicable
income taxes in their Call Report in
accordance with Accounting Standards
Codification (ASC) Topic 740, Income
Taxes. The optional worksheet provides
a simplified approach for calculating
year-to-date applicable income taxes
under ASC Topic 740. It should not be
used by institutions that prepare
quarterly financial statements in
accordance with U.S. generally accepted
accounting principles (GAAP) or where
it will likely result in significantly lower
applicable income taxes than as
calculated under U.S. GAAP. In
addition, the worksheet should not be
used by institutions that are, for federal
income tax purposes, either ‘‘S
corporations’’ or ‘‘qualifying subchapter
S subsidiaries’’ as of June 30, 2022, and
that are generally not subject to federal
corporate income taxes. The agencies
have determined that a limited number
of institutions is accessing the optional
tax worksheet on the applicable
websites. Therefore, the agencies are
seeking comment on the continued
usefulness of the optional tax worksheet
to Call Report filers or other
stakeholders and any concerns if the
agencies discontinue its publication.

Each quarter, the FFIEC and FDIC
make available on their websites the
Instructions for the Preparation of the
Call Report, together with detailed
updates to the Call Report instructions
implemented for that quarter-end report
date.11 The instructions and updates are
formatted in a double-sided, printable
format, including fixed page numbering
and pages intentionally left blank, to
facilitate the use of a hard copy stored
in a binder (binder format). The
agencies make the instructions available
online in a Portable Document Format
(PDF) format, and many institutions
access and use the instructions in that
format. However, continuing to
maintain the instructions in a binder
format increases the number of blank
space and blank pages in the PDF files,
which makes the document longer by
increasing the number of pages in the
document and could make using the
instructions less efficient for users

C. Federal Home Loan Mortgage
Corporation and Other Securitization
Structures
The Federal Home Loan Mortgage
Corporation (FHLMC or Freddie Mac)
may acquire and securitize guaranteed
bonds that are issued by third party
trusts and backed by multifamily loans
through a variety of structures, such as
‘‘K-Deals’’ and ‘‘Q-Deals’’.12 The June
2022 Call Report instruction book
update and Supplemental Instructions
included a technical clarification,
indicating that structured financial

11 There is a combined set of instructions for the
FFIEC 031 and FFIEC 041 and a separate set of
instructions for the FFIEC 051.

12 See https://mf.freddiemac.com/investors/kdeals and https://mf.freddiemac.com/investors/qdeals.

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

PO 00000

Frm 00154

Fmt 4703

Sfmt 4703

products that are guaranteed by the U.S.
government agencies, such as K-Deals
and Q-Deals issued by Freddie Mac, are
to be reported in Schedule RC–B,
Securities, item 5.b, ‘‘Structured
financial products.’’ The agencies made
this technical clarification to promote
consistent reporting treatment after
receiving several inquiries on where to
report these products. The agencies
viewed item 5.b as the most appropriate
location to report these products
consistent with the pre-existing
instructions. However, the agencies
subsequently received additional
inquiries about reporting Freddie Mac
K-Deals and Q-Deals and other
structured products in Schedule RC–B,
including whether to report the related
certificates in Schedule RC–B, item 4,
‘‘Mortgage-backed securities (MBS).’’
Therefore, the agencies are seeking
comment on the reporting of these types
of structured financial products
including those issued or guaranteed by
U.S. government or government
sponsored agencies.
III. Timing
The proposed revisions to the Call
Reports and the FFIEC 002 would first
take effect as of the June 30, 2023, report
date. The agencies invite comment on
any difficulties that institutions would
expect to encounter in implementing
the systems changes necessary to
accommodate the proposed revisions to
the Call Reports and FFIEC 002
consistent with this effective date.
IV. Request for Comment
Public comment is requested on all
aspects of this joint notice including the
questions that were provided in the
earlier sections. In addition to the
questions included above comment is
specifically invited on:
(a) Whether the proposed revisions to
the collections of information that are
the subject of this notice are necessary
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,

E:\FR\FM\21FEN1.SGM

21FEN1

Federal Register / Vol. 88, No. 34 / Tuesday, February 21, 2023 / Notices
maintenance, and purchase of services
to provide information.
Comments submitted in response to
this joint notice will be shared among
the agencies.
Ted Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board,
Board of Governors of the Federal Reserve
System.
Dated at Washington, DC, on January 25,
2023.
James P. Sheesley,
Assistant Executive Secretary, Federal
Deposit Insurance Corporation.
[FR Doc. 2023–03543 Filed 2–17–23; 8:45 am]
BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P

DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting
Comments on Form 720–CS, Form
720–TO, and Form 8809–EX
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:

The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
federal agencies to take this opportunity
to comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning Form 720–CS,
Carrier Summary Report, Form 720–TO,
Terminal Operator Report, and Form
8809–EX, Request for Extension of Time
to File an ExSTARS Information Return.
DATES: Written comments should be
received on or before April 24, 2023 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to [email protected].
Include OMB Control No. 1545–1733 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jon Callahan, (737) 800–
7639, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION: The IRS is
currently seeking comments concerning

lotter on DSK11XQN23PROD with NOTICES1

SUMMARY:

VerDate Sep<11>2014

17:54 Feb 17, 2023

Jkt 259001

the following information collection
tools, reporting, and record-keeping
requirements:
Title: Carrier Summary Report,
Terminal Operator Report, and Request
for Extension of Time to File an
ExSTARS Information Return.
OMB Number: 1545–1733.
Form Number: Forms 720–CS, 720–
TO, and 8809–EX.
Abstract: Representatives of the motor
fuel industry, state governments, and
the Federal government are working to
ensure compliance with excise taxes on
motor fuels. This joint effort has
resulted in a system to track the
movement of all products to and from
terminals. Form 720–CS is an
information return used by bulk
transport carriers to report monthly
receipts and disbursements of all liquid
products at a storage location designated
by a facility control number (FCN).
Form 720–TO is completed by terminal
operators to report monthly receipts and
disbursements of all liquid products to
and from all approved terminals. Form
8809–EX is used to request a 30-day
extension of time to file an Excise
Summary Terminal Activity Reporting
System (ExSTARS) information report
(Form 720–CS or Form 720–TO).
Current Actions: There is no change to
the existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
544,380.
Estimated Time per Respondent: 4
hours, 39 minutes.
Estimated Total Annual Burden
Hours: 2,530,383.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the

PO 00000

Frm 00155

Fmt 4703

Sfmt 4703

10649

information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information 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.
Approved: February 15, 2023.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2023–03540 Filed 2–17–23; 8:45 am]
BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting
Comments on Form 6197
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:

The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
federal agencies to take this opportunity
to comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning Form 6197, Gas
Guzzler Tax.
DATES: Written comments should be
received on or before April 24, 2023 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to [email protected].
Include OMB Control No. 1545–0242 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jon Callahan, (737) 800–
7639, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION: The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Gas Guzzler Tax.
SUMMARY:

E:\FR\FM\21FEN1.SGM

21FEN1