The Board requires information
collected on the Call Reports to fulfill its statutory obligation
to supervise state member banks. State member banks are required to
file both detailed schedules of assets, liabilities, and capital
accounts in the form of a condition report and summary statement as
well as detailed schedules of operating income and expense, sources
and disposition of income, and changes in equity capital.
The agencies propose
under the emergency clearance provisions of OMB’s regulations to
revise the Call Reports effective beginning with 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 202 of EGRRCPA requires the FDIC to adjust the definition
of reciprocal brokered deposits and brokered deposits reported on
the Call Report. Section 214 of EGRRCPA requires the agencies to
revise the definition of high volatility commercial real estate
(HVCRE) exposures that banks use to calculate risk-weighted assets
and, hence, risk-based capital ratios. These provisions became
effective automatically when the law was signed on May 24, 2018.
The agencies must receive data from the quarterly Call Reports as
part of their shared missions of ensuring the safety and soundness
of financial institutions and the financial system and the
protection of consumer financial rights as well as agency-specific
missions affecting national and state-chartered institutions,
including the administration of federal deposit insurance. The next
reports are due at the end of July 2018 through early August 2018,
based on information as of June 30, 2018. In order for the agencies
to implement sections 202 and 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
The current annual reporting
burden for the Call Report is estimated to be 163,571 hours and
would increase to 163,800 hours. The average estimated hours per
response for Board Call Report filers would increase from 49.93
hours to 50.00 hours due to the proposed changes. 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 activities in
which they are engaged, and existence of foreign offices).
$1,871,500
No
Yes
No
No
No
No
Uncollected
Mark Tokarski 202-452-5241
Mark.E.Tokarski@frb.gov
No
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
FFIEC031_FFIEC041_FFIEC051_20180731_omb_emergency.pdf
Consolidated Reports of Condition and Income