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FDIC Federal Register Citations

[Federal Register: March 4, 2003 (Volume 68, Number 42)]
[Notices]               
[Page 10310-10314]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04mr03-138]                         

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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION

 
Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCIES: 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: Notice of information collection to be submitted to OMB for 
review and approval under the Paperwork Reduction Act of 1995.

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SUMMARY: 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. On November 8, 2002, the agencies requested public 
comment for 60 days on proposed revisions to the Consolidated Reports 
of Condition and Income (Call Report), which are currently approved 
collections of information. After considering the comments the agencies 
received, the Federal Financial Institutions Examination Council 
(FFIEC), of which the agencies are members, adopted some of the 
proposed revisions after making certain modifications to them. The 
FFIEC and the agencies are continuing to evaluate the other proposed 
revisions from the November proposal. In addition, on July 12, 2002, 
the agencies requested public comment for 60 days on a separate 
proposed revision to the Call Report related to the collection of data 
on subprime consumer lending programs, which the FFIEC and the agencies 
have decided not to implement.

DATES: Comments must be submitted on or before April 3, 2003.

ADDRESSES: Interested parties are invited to submit written comments to 
any or all of the agencies. All comments, which should refer to the OMB 
control number(s), will be shared among the agencies.
    OCC: Comments should be sent to the Public Information Room, Office 
of the Comptroller of the Currency, Mailstop 1-5, Attention: 1557-0081, 
250 E Street, SW., Washington, DC 20219. Due to delays in paper mail 
delivery in the Washington area, commenters are encouraged to submit 
comments by fax or e-mail. Comments may be sent by fax to (202) 874-
4448, or by e-mail to regs.comments@occ.treas.gov. You can inspect and 

photocopy the comments at the OCC's Public Information Room, 250 E 
Street, SW., Washington, DC 20219. You can make an appointment to 
inspect the comments by calling (202) 874-5043.
    Board: Written comments, which should refer to ``Consolidated 
Reports of Condition and Income, 7100-0036,'' may be mailed to Ms. 
Jennifer J. Johnson, Secretary, Board of Governors of the Federal 
Reserve System, 20th and C Streets, NW., Washington, DC 20551. Due to 
temporary disruptions in the Board's mail service, commenters are 
encouraged to submit comments by electronic mail to 
regs.comments@federalreserve.gov, or by fax to the Office of the 

Secretary at 202-452-3819 or 202-452-3102. Comments addressed to Ms. 
Johnson also may be delivered to the Board's mailroom between 8:45 a.m. 
and 5:15 p.m. weekdays, and to the security control room outside of 
those hours. Both the mailroom and the security control room are 
accessible from the Eccles Building courtyard entrance on 20th Street 
between Constitution Avenue and C Street, NW. Comments received may be 
inspected in room M-P-500 between 9 a.m. and 5 p.m. on weekdays 
pursuant to sections 261.12 and 261.14 of the Board's Rules Regarding 
Availability of Information, 12 CFR 261.12 and 261.14.
    FDIC: Written comments should be addressed to Robert E. Feldman, 
Executive Secretary, Attention: Comments/Legal, Federal Deposit 
Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. All 
comments should refer to ``Consolidated Reports of Condition and 
Income, 3064-0052.'' Commenters are encouraged to submit comments by 
fax or electronic mail [Fax number: (202) 898-3838; Internet address: 
comments@fdic.gov]. Comments also may be hand-delivered to the guard 

station at the rear of the 550 17th Street Building (located on F 
Street) on business days between 7 a.m. and 5 p.m. Comments may be 
inspected and photocopied in the FDIC Public Information Center, Room 
100, 801 17th Street, NW., Washington, DC, between 9 a.m. and 4:30 p.m. 
on business days.
    A copy of the comments may also be submitted to the OMB desk 
officer for the agencies: Joseph F. Lackey, Jr., Office of Information 
and Regulatory Affairs, Office of Management and Budget, New Executive 
Office Building, Room 10235, Washington, DC 20503 or electronic mail to 
jlackeyj@omb.eop.gov.

FOR FURTHER INFORMATION CONTACT: Sample copies of the revised Call 
Report forms for March 31, 2003, can be obtained at the FFIEC's Web 
site (http://www.ffiec.gov). Sample copies of the revised Call Report 

site (http://www.ffiec.gov). Sample copies of the revised Call Report 

forms also may be requested from any of the agency clearance officers 
whose names appear below.
    OCC: Jessie Dunaway, OCC Clearance Officer, or Camille Dixon, (202) 
874-5090, Legislative and Regulatory Activities Division, Office of the 
Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219.
    Board: Cynthia M. Ayouch, Board Clearance Officer, (202) 452-3829, 
Division of Research and Statistics, 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: Tamara R. Manly, Management Analyst, (202) 898-7453, Legal 
Division, Federal Deposit Insurance Corporation, 550 17th Street NW., 
Washington, DC 20429.

SUPPLEMENTARY INFORMATION: Request for OMB approval to extend, with 
revision, the following currently approved collections of information:
    Report Title: Consolidated Reports of Condition and Income.
    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 for-profit.
    For OCC:
    OMB Number: 1557-0081.
    Estimated Number of Respondents: 2,200 national banks.
    Estimated Time per Response: 42.20 burden hours.
    Estimated Total Annual Burden: 371,360 burden hours.
    For Board:
    OMB Number: 7100-0036.
    Estimated Number of Respondents: 978 state member banks.
    Estimated Time per Response: 48.25 burden hours.
    Estimated Total Annual Burden: 188,754 burden hours.
    For FDIC:

[[Page 10311]]

    OMB Number: 3064-0052.
    Estimated Number of Respondents: 5,354 insured state nonmember 
banks.
    Estimated Time per Response: 32.85 burden hours.
    Estimated Total Annual Burden: 703,411 burden hours.
    The estimated time per response for the Call Report is an average, 
which varies by agency because of differences in the composition of the 
banks under each agency's supervision (e.g., size distribution of 
institutions, types of activities in which they are engaged, and number 
of banks with foreign offices). For the Call Report as it would be 
revised, the time per response for a bank is estimated to range from 15 
to 550 hours, depending on individual circumstances.

General Description of Report

    These information collections are mandatory: 12 U.S.C. 161 (for 
national banks), 12 U.S.C. 324 (for state member banks), and 12 U.S.C. 
1817 (for insured state nonmember commercial and savings banks, and for 
all banks for deposit information). Except for selected items, these 
information collections are not given confidential treatment. Small 
businesses (i.e., small banks) are affected.

Abstract

    Banks file Call Reports with the agencies each quarter for the 
agencies' use in monitoring the condition, performance, and risk 
profile of reporting banks and the industry as a whole. In addition, 
Call Reports provide the most current statistical data available for 
evaluating bank corporate applications such as mergers, for identifying 
areas of focus for both on-site and off-site examinations, and for 
monetary and other public policy purposes. Call Reports are also used 
to calculate all banks' deposit insurance and Financing Corporation 
assessments and national banks' semiannual assessment fees.

Current Actions

    On November 8, 2002, the OCC, the Board, and the FDIC jointly 
published a notice soliciting comments for 60 days on proposed 
revisions to the Call Report (67 FR 68229). The agencies' notice 
addressed a number of different types of changes to the Call Report 
requirements. These changes related to the content of the Call Report 
itself, the submission deadline for certain banks, and the agencies' 
process for validating and releasing the data that banks report. First, 
the agencies proposed several revisions to the content of the Call 
Report and one instructional clarification. These revisions focus on 
improving the information reported by banks that engage in certain 
specific activities and generally will be applicable to small 
percentages of banks rather than to most or all banks. This first group 
of proposed revisions, which were proposed to take effect as of March 
31, 2003, include:
    [sbull] Adding five items dealing with accrued fees and finance 
charges on credit card accounts, allowances for uncollectible accrued 
fees and finance charges, and charge-offs of such accrued amounts, 
which would be reported by banks with a significant volume of credit 
card activity;
    [sbull] Splitting the item in the securitization schedule (Schedule 
RC-S) for seller-provided credit enhancements to the bank's 
securitization structures (other than credit-enhancing interest-only 
strips) into separate items, one for on-balance sheet assets and 
another for other enhancements;
    [sbull] Separating the current income statement (Schedule RI) item 
for income from insurance activities into two items, one for insurance 
underwriting income and the other for income from other insurance 
activities;
    [sbull] Adding a yes/no question asking whether any of the bank's 
Internet Web sites has transactional capability, i.e., allows the 
bank's customers to execute transactions on their accounts;
    [sbull] Extending to banks with less than $100 million in assets 
the requirement to disclose the fair values of derivative contracts in 
Schedule RC-L--Derivative and Off-Balance Sheet Items, because current 
accounting standards require derivatives to be reported on the balance 
at fair value;
    [sbull] Changing where banks report any provisions for allocated 
transfer risk in the income statement (Schedule RI);
    [sbull] Clarifying the instructions for the reporting of certain 
loans;
    [sbull] Clarifying that, for the Memorandum items on the number and 
amount of deposit accounts by size of account in the insurance 
assessments schedule (Schedule RC-O), the dollar amount for the size of 
an account represents the deposit insurance limit in effect on the 
report date; and
    [sbull] Creating a supplement to the Call Report that would enable 
the agencies to collect a limited amount of data from certain banks in 
the event of an immediate and critical need for specific information.
    Second, the agencies proposed to reduce the Call Report filing 
period for banks with more than one foreign office from 45 to 30 days 
effective June 30, 2003. In connection with this change, the FDIC would 
be authorized to contact not more than 20 of these banks around May 1, 
2003, if their March 31 reports have not yet been received in order to 
obtain certain deposit data needed to estimate insured deposits.
    Third, to improve the timeliness with which Call Report data become 
available to the public, the agencies would begin posting the reports 
for individual banks on the FDIC's Web site as soon as the agencies' 
analysis of an individual report has been completed. The agencies 
stated that this change would begin as early as with the first quarter 
2003 reports.
    Finally, in conjunction with the planned implementation of a new 
business model for collecting and validating Call Reports in 2004, the 
agencies proposed that a bank's Call Report must pass all validity 
edits and must include an explanatory comment addressing each quality 
edit exception identified in the bank's report in order for the 
agencies to accept the bank's Call Report submission.
    After considering the comments the agencies received, the FFIEC and 
the agencies decided to modify the proposed changes relating to 
allocated transfer risk and the instructional clarification addressing 
loans held for trading. Some additional insurance-related instructional 
clarifications also will be made. Except as noted in the following 
sentence, the FFIEC and the agencies are proceeding with all of the 
other proposed revisions. In this regard, the FFIEC and the agencies 
are continuing to evaluate three elements of their November 2002 
proposal: the creation of a supplement to the Call Report that would 
enable the agencies to collect a limited amount of data from certain 
banks to meet an immediate and critical need for specific information, 
the reduction from 45 to 30 days in the Call Report filing period for 
banks with more than one foreign office, and the establishment of edit 
criteria that would have to be met in order for a bank's Call Report to 
be accepted. If and when the agencies decide to proceed with one or 
more of these three proposals, one or more separate Federal Register 
notices would then be published and submissions to OMB would then be 
made.
    With respect to the Call Report filing period for banks with 
multiple foreign offices, the agencies' proposal had called for the 
shortening of this period from 45 to 30 days to take effect with the 
reports for June 30, 2003. The agencies note that the Board proposed on 
December 24, 2002, to reduce the filing period for the FR Y-9C report 
filed by certain bank holding companies from 45 to 35 days effective 
June 30,

[[Page 10312]]

2004 (67 FR 78467). The comment period for the Board's proposal ended 
on February 24, 2003. Because the filing period part of the Call Report 
proposal remains under study, the agencies are deferring the date when 
any shortening of the filing period would take effect until a report 
date after June 30, 2003. However, as long as the current 45-day filing 
period remains in effect, the FDIC would be authorized to contact not 
more than 20 banks with one or more foreign offices on or about each 
May 1 and November 1 if their March 31 and September 30 Call Reports 
have not been received in order to obtain certain deposit data needed 
to estimate insured deposits.
    In addition, in November 2002, the American Institute of Certified 
Public Accountants disclosed that it was rescinding its Statement of 
Position (SOP) No. 92-3, Accounting for Foreclosed Assets, because of 
the issuance by the Financial Accounting Standards Board of Statement 
No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets 
(FAS 144). Under SOP 92-3, it is rebuttably presumed that foreclosed 
assets are held for sale. After foreclosure, foreclosed assets held for 
sale are carried at the lower of fair value less estimated costs to 
sell or cost, with any deficiency recognized as a valuation allowance, 
and this determination is made on an individual asset basis. These 
provisions of SOP 92-3 are not present in FAS 144, but the application 
of these provisions represents prevalent practice in the banking 
industry and is consistent with safe and sound banking practices and 
the accounting objectives set forth in section 37(a) of the Federal 
Deposit Insurance Act (12 U.S.C. 1831n(a)). Accordingly, the agencies 
are retaining these provisions of SOP 92-3 as part of the Call Report 
instructions and will expect banks to continue to follow these 
provisions when accounting for foreclosed real estate.
    In order to carry out the provisions of section 314(a) of the USA 
PATRIOT Act of 2001, ``Cooperative efforts to deter money laundering,'' 
the agencies will collect contact information for the persons who are 
in charge of each bank's section 314(a) anti-money laundering searches 
and who could be contacted by federal law enforcement officers for 
additional information related to anti-terrorist financing and anti-
money laundering. This USA PATRIOT Act contact information, which the 
agencies will begin to collect with the March 31, 2003, Call Reports, 
is for the confidential use of the agencies and will not be released to 
the public.
    Finally, on July 12, 2002, the agencies jointly published a notice 
soliciting comments for 60 days on a proposed new Call Report schedule 
that would collect data on subprime consumer lending programs beginning 
March 31, 2003 (67 FR 46250). After the comments received on the 
proposal from 36 banking organizations, bankers' associations, and 
community and consumer groups, the FFIEC and the agencies decided not 
to proceed with the proposal.
    Type of Review: Revisions of currently approved collections.

Comments Received on the Agencies' Proposal

    In response to their November 8, 2002, notice, the agencies 
received 13 comment letters, eight from banks and banking 
organizations, three from bankers' associations, one from a 
governmental entity, and one from a trade group outside the banking 
industry. The FFIEC and the agencies have considered the comments 
received from these 13 respondents.

Accrued Fees and Finance Charges on Credit Card Accounts

    Three commenters addressed the proposed new items that would 
provide data related to accrued fees and finance charges on credit card 
accounts. Two of these three responded to the agencies' question asking 
whether these new items should be added to four different Call Report 
schedules, as had been proposed, or instead placed together in a single 
separate schedule. Both of these commenters preferred keeping the new 
items in the four different schedules, which the agencies will continue 
to do. The other commenter noted that the banks with which it had 
discussed this proposal stated that they would need until the second 
quarter 2003 report to complete the systems changes necessary to 
provide the new information and, therefore, would report good faith 
estimates in the first quarter 2003 report. As stated in the agencies' 
proposal, banks will be permitted to provide reasonable estimates for 
any new item in the first quarter 2003 report, including the new items 
related to credit card fees and finance charges. This commenter also 
recommended that the new items permit banks to net ``nonprincipal'' 
recoveries from the ``nonprincipal'' balances charged off within the 
quarter. Because the new items are intended to provide the agencies and 
other Call Report users with more complete information on credit card 
fees and finance charges that are written off as uncollectible, the 
agencies decided not to adopt the suggested netting option.

Income from Insurance Activities

    One commenter submitted an extensive number of recommendations 
concerning the reporting of income from insurance activities and other 
matters relating to the insurance activities of banking organizations. 
In this regard, the commenter favored the agencies' proposal to 
separate the current Call Report income statement item for income from 
insurance activities into separate items for insurance underwriting 
income and income from other insurance activities. This commenter also 
questioned the agencies' instructional language pertaining to 
underwriting income, noting that it calls for reporting of premium 
revenue partially on the basis of generally accepted accounting 
principles (GAAP) and partially on a statutory reporting basis. The 
agencies' intent has been for premium revenue to be reported in 
accordance with GAAP. Therefore, the agencies are revising this 
instructional language.
    In addition, the commenter provided other instructional 
suggestions. These included providing more explicit detail in the 
instructions concerning items to be included in and excluded from the 
two separate insurance income items and having the instructions for 
other assets and other liabilities specifically refer to certain 
insurance-related assets and liabilities. The agencies are 
incorporating several of these suggested details into the Call Report 
instructions.

Allocated Transfer Risk Reserves

    The agencies proposed to change where banks report any provisions 
for allocated transfer risk in the Call Report income statement. As 
proposed, these provisions would be included in the provision for loan 
and lease losses rather than in other noninterest expense, with the 
amount of any provision for allocated transfer risk included in the 
provision for loan and lease losses separately disclosed. One commenter 
supported this change in income statement presentation as being more 
consistent with GAAP, but recommended that the agencies also change the 
way in which banks report allocated transfer risk reserves (ATRRs) on 
the Call Report balance sheet so that they are also presented in the 
same manner as on institutions' financial statements prepared in 
accordance with GAAP.
    The agencies agreed with this recommendation and are revising the 
Call Report instructions to instruct banks to include any ATRRs related 
to

[[Page 10313]]

loans and leases in the allowance for loan and lease losses. In making 
this change, the proposed requirement for banks to disclose the amount 
of provision for allocated transfer risk included in the provision for 
loan and lease losses would be replaced with a disclosure of the amount 
of ATRR related to loans included in the allowance for loan and lease 
losses. The reporting of loan charge-offs and recoveries and the 
reconcilement of the loan loss allowance in Call Report Schedule RI-B 
would also be conformed to this revised balance sheet and income 
statement presentation method for ATRRs.

Instructional Clarification for the Reporting of Certain Loans

    Because of questions concerning the categorization of certain loans 
as trading assets, the agencies proposed to revise the Glossary entry 
for ``Trading Account'' and establish a rebuttable presumption that 
loans should not be reported as trading assets. The instructions would 
have explained that, in order to overcome this presumption for a 
particular loan, a bank must demonstrate, from the pattern and practice 
of its activity, that it is acquiring the loan principally for the 
purpose of selling it in the near term with the objective of generating 
profits on short-term differences in price. The instructions also would 
have identified two situations where loans should not be reported as 
trading assets.
    Two commenters addressed this proposed instructional change. One 
recommended that the agencies avoid creating a ``rebuttable 
presumption'' that does not exist in the accounting literature. The 
other also noted certain difficulties with this presumption. These 
commenters believe that it is appropriate to classify loans as trading 
assets under GAAP when they have been acquired as part of a trading 
activity, trading business, or trading strategy. Reference was also 
made to the accounting literature for the broker-dealer industry 
because a broker-dealer's activities are similar to loan trading 
operations. In addition, one commenter agreed with the proposed 
instructional language stating that loans originated and held for 
securitization purposes should be reported as held for sale, but 
disagreed with the inclusion of loans acquired from third parties and 
held for securitization in the held-for-sale category.
    In considering these two commenters' views, the agencies note that 
their primary purpose in proposing this instructional revision was to 
identify situations in which loans for which a trading designation had 
been assigned should have been reported as held for sale or held for 
investment, based on facts and circumstances. As a result, the agencies 
conclude that it would be more appropriate to describe these situations 
in the General Instructions section of the Call Report loan schedule 
(Schedule RC-C, part I), which collects data on both loans held for 
sale and loans held for investment, rather than in the ``Trading 
Account'' Glossary entry. In so doing, the agencies have removed the 
rebuttable presumption language from the revision they are making to 
the loan schedule's General Instructions.
    Furthermore, the agencies have retained the instructional language 
that explains that loans acquired, i.e., originated or purchased, and 
held for securitization purposes should be reported as loans held for 
sale. The agencies believe that, under GAAP, the purchase and 
origination of loans for sale to permanent investors, which is a result 
of the securitization process, should be accounted for in the same 
manner, i.e. as loans held for sale. In this regard, FASB Statement No. 
65, Accounting for Certain Mortgage Banking Activities, states that 
``[m]ortgage loans are acquired for sale to permanent investors from a 
variety of sources, including applications received directly from 
borrowers (in-house originations), purchases from realtors and brokers, 
[and] purchases from investors.''

Earlier Public Release of Individual Bank Call Report Data

    One commenter addressed the agencies' plan to begin posting the 
Call Reports for individual banks on the FDIC's Web site as soon as the 
agencies' analysis of an individual report has been completed. Because 
the agencies currently release the Call Reports for all banks 
simultaneously approximately 60 days after the quarter-end report date, 
this change would give the public access to some banks' Call Reports 
about 30 days sooner than at present. The commenter expressed general 
support for this change. However, this commenter suggested that, if 
market conditions were ``turbulent,'' Call Report data should be 
released by peer group rather than by a small number of banks at a time 
in order to avoid unintended consequences to a bank whose data became 
publicly available sooner than the data for its peers.
    In implementing this change in their policy for making Call Report 
data available to the public, which may begin as early as the first 
quarter 2003 Call Reports, the agencies believe that the method by 
which they will release the data should mitigate the commenter's 
concern. The first quarter in which this posting process is 
implemented, individual bank reports for which the agencies' analyses 
have been completed will be posted to the Internet beginning the fifth 
Friday after the report date, e.g., May 2, 2003, for the March 31, 
2003, report or August 1, 2003, for the June 30, 2003, report. 
Additional bank reports whose analyses have been completed will be 
posted each Friday thereafter. In quarters subsequent to the first 
quarter in which the early release of individual bank Call Report data 
to the Internet has been implemented, this posting process will start 
on the fourth Friday after the report date. Based on the agencies' 
experience in processing and analyzing Call Reports, about 1,500 or 
more individual bank reports would be placed on the FDIC's Web site on 
the initial posting date. Should the agencies decide to make individual 
banks' reports publicly available at an earlier date, banks will be 
notified in advance of such a change.

Other Comments

    One commenter asked the agencies to revise the Call Report to 
collect additional detailed data on construction and land development 
loans, e.g., separate data for residential and nonresidential 
construction loans. Another commenter suggested that ``additional 
institutional detail'' be collected on the deposit balances of 
individuals, partnerships, and corporations. The agencies had not 
included revisions of this nature in their November 2002 proposal and 
are not implementing these commenters' recommended changes. However, 
the agencies are undertaking overall reviews of their Call Report data 
needs with respect to bank lending activities and bank liabilities and 
will include the commenters' suggestions in their reviews.
    One commenter from a bank stated that because holdings of life 
insurance with cash surrender value are reported as part of ``Other 
assets'' on the Call Report, this reporting treatment gives the 
impression that this asset, which actually generates earnings, is not 
an earning asset. This banker observed that most of his bank's peer 
group comparisons are distorted because the denominator in many ratios 
is ``earning assets,'' which does not include cash value life 
insurance. The commenter recommended that these holdings of life 
insurance should be treated as an earning asset for analytical 
purposes. The agencies note that the amount of a bank's ``earning 
assets'' is not collected in the Call Report, but is a figure that

[[Page 10314]]

is calculated from Call Report data for use in the Uniform Bank 
Performance Report. This recommendation has been referred to the 
agencies' coordinator for the Uniform Bank Performance Report.
    One commenter expressed concern about the increase in the amount of 
data collected in the Call Report over the last ten years and asked why 
a small non-complex bank has to complete a detailed report designed for 
larger banks. The commenter recommended reducing the size of the Call 
Report for small banks. The Call Report already collects different 
amounts of data from different size banks even though the report form 
itself covers banks in all size ranges. The data items that are to be 
completed by banks that meet certain size or other criteria are clearly 
identified on the forms. The commenter noted that his bank uses Call 
Report software to complete the Call Report. Such software can be 
easily designed to filter out the data items that small banks do not 
need to complete. Furthermore, the November 2002 proposal further 
reflects the agencies' recognition that certain data does not need to 
be reported by all banks. In this regard, the new items relating to 
accrued fees and finance charges on credit card accounts are only to be 
completed by banks that have $500 million or more in outstanding credit 
card receivables or are credit card specialty banks.

Request for Comment

    Comments are invited on:
    (a)Whether the proposed revisions to the Call Report collections of 
information 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, 
maintenance, and purchase of services to provide information.
    Comments submitted in response to this notice will be shared among 
the agencies. All comments will become a matter of public record. 
Written comments should address the accuracy of the burden estimates 
and ways to minimize burden as well as other relevant aspects of these 
information collection requests.

    Dated: February 26, 2003.
Mark J. Tenhundfeld,
Assistant Director, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency.

    Board of Governors of the Federal Reserve System, February 25, 
2003.
Jennifer J. Johnson,
Secretary of the Board.
    Dated at Washington, DC, this 26th day of February, 2003.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 03-4998 Filed 3-3-03; 8:45 am]

BILLING CODE 4810-33-P

Last Updated 03/03/2003 regs@fdic.gov