Federal Register: March 11, 2005 (Volume 70, Number 47)
DOCID: FR Doc 05-4664
DEPARTMENT OF THE TREASURY
Federal Reserve System
DOCUMENT ACTION: Joint notice and request for comment.
FEDERAL RESERVE SYSTEM
DATES: Comments must be submitted on or before May 10, 2005.
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), 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 proposed revisions to the Consolidated Reports of Condition and Income (Call Report), which are currently approved collections of information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC and the agencies should modify the proposed revisions prior to giving final approval. The agencies will then submit the revisions to OMB for review and approval.
Agency information collection activities; proposals, submissions, and approvals,
DOCUMENT BODY 2:
FEDERAL DEPOSIT INSURANCE CORPORATION
Proposed Agency Information Collection Activities; Comment
The agencies are proposing to revise the Call Report, which is currently an approved collection of information for each of the agencies.
The effect of the proposed revisions to the reporting requirements will vary from institution to institution depending on the extent to which an institution acquires loans with evidence of deterioration of credit quality since origination, including acquisitions of such loans in business combinations accounted for using the purchase method. The agencies expect that the proposed revisions will generally apply only to the limited number of institutions that are involved in purchase business combinations or that engage in purchases of loans with credit quality problems as a business activity. Furthermore, the proposed revisions entail the reporting of information included in disclosures required under applicable generally accepted accounting principles. Therefore, the agencies estimate that the implementation of these reporting revisions will result in a nominal increase in the current reporting burden imposed on all banks by the Call Report. The following burden estimates include the proposed revisions.
Report Title: Consolidated Reports of Condition and Income (Call Report).
Form Number: FFIEC 031 (for banks with domestic and foreign offices) and FFIEC 041 (for banks with domestic offices only).
Frequency of Response: Quarterly.
Affected Public: Business or other forprofit.
FOR FURTHER INFORMATION CONTACT
For further information about the revisions discussed in this notice, please contact any of the agency clearance officers whose names appear below. In addition, copies of Call Report forms can be obtained at the FFIEC's Web site (http://www.ffiec.gov/ffiec_report_forms.htm ).