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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3064-0052
ICR Reference No:
202005-3064-003
Status:
Historical Active
Previous ICR Reference No:
202003-3064-008
Agency/Subagency:
FDIC
Agency Tracking No:
FFIEC 031/041/051
Title:
Consolidated Reports of Condition and Income (Call Report)
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
05/22/2020
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/27/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/20/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2020
6 Months From Approved
10/31/2020
Responses
13,340
0
13,544
Time Burden (Hours)
537,053
0
534,097
Cost Burden (Dollars)
0
0
0
Abstract:
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.
Emergency Justfication:
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law. Various provisions of the CARES Act led to the banking agencies issuing implementing regulations, many of which have impacts on regulatory reporting in the Call Report and FFIEC 101. In addition, the agencies have issued additional interim final rules to assist banks with managing market disruptions related to COVID-19 while continuing to provide access to funds and lending to consumers and businesses. 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. 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 the second quarter of 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.
Authorizing Statute(s):
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
Statute at Large:
134 Stat. 281
Name of Statute: Coronavirus Aid. Relief, and Economic Security Act
Citations for New Statutory Requirements:
US Code: 12 USC 1817(a) Name of Law: Dodd-Frank Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3064-AF41
Final or interim final rulemaking
85 FR 16232
03/23/2020
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Consolidated Report of Condition and Income (Call Report) for Bank with Domestic Offices Only and Total Assets Less than $5 Billion - FFIEC 051
FFIEC 051
Consolidated Report of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less Than $5 Billion - FFIEC 051
Consolidated Report of Condition and Income (Call Report) for a Bank with Domestic Offices Only - FFIEC 041
FFIEC 041
Consolidated Report of Condition and Income for a Bank with Domestic Offices Only - FFIEC 041
Consolidated Report of Condition and Income (Call Report) for a Bank with Domestic and Foreign Offices - FFIEC 031
FFIEC 031
Consolidated Report of Condition and Income for a Bank with Domestic and Foreign Offices - FFIEC 031
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
13,340
13,544
0
0
-204
0
Annual Time Burden (Hours)
537,053
534,097
12,323
0
-9,367
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Yes
Agency Contact:
Manuel Cabeza 202 898-3781 mcabeza@fdic.gov
Common Form ICR:
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
05/20/2020
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