[Federal Register: February 3, 1997 (Volume 62, Number 22)]
[Rules and Regulations]
[Page 4895-4899]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03fe97-1]
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Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
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[[Page 4895]]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 304
RIN 3064-AB89
Forms, Instructions and Reports
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Final rule.
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SUMMARY: As part of the FDIC's systematic review of its regulations and
written policies under section 303(a) of the Riegle Community
Development and Regulatory Improvement Act of 1994 (CDRI), the FDIC is
revising its regulations relating to forms, instructions and reports.
The regulation was created in 1948 to satisfy the requirement found in
the Administrative Procedure Act (APA) to ``publish in the Federal
Register * * * rules of procedure, descriptions of forms available or
the places at which forms may be obtained, and instructions as to the
scope and contents of all papers, reports, or examinations.'' A portion
of the regulation was added in 1992 to implement the mandate found at
section 122 of the Federal Deposit Insurance Corporation Improvement
Act of 1991 (FDICIA), which requires the FDIC to adopt a regulation
which requires the collection of information on small farm and small
business lending from insured depository institutions. In addition,
section 37 of the Federal Deposit Insurance Act (FDI Act), as added by
FDICIA, requires that the FDIC adopt regulations mandating the
inclusion of ``off balance sheet'' items in all assets and liabilities
(including contingent assets and liabilities) reflected on any balance
sheet, financial statement, report of condition, or other report that
insured depository institutions file with a federal banking agency. The
additional requirement to include contingent assets and liabilities is
being incorporated into a section of the regulation. In an effort to
streamline its regulations and provide the public with information
about its forms, instructions and reports (including specific dates by
which such reports must be filed), the FDIC is revising this
regulation, by removing unneeded language while retaining the listing
of forms and other required information to satisfy the public
information requirements found in FOIA, section 122 of FDICIA, and
section 37 of the FDI Act.
EFFECTIVE DATE: February 3, 1997.
FOR FURTHER INFORMATION CONTACT: Steven F. Hanft, Assistant Executive
Secretary (Regulatory Analysis), (202) 898-3907, Office of the
Executive Secretary; Karen Main, Senior Attorney, (202) 898-8838, Legal
Division; FDIC, 550 17th Street, NW, Washington, D.C. 20429.
SUPPLEMENTARY INFORMATION:
I. Discussion
The FDIC is conducting a systematic review of its regulations and
written policies. Section 303(a) of CDRI, 12 U.S.C. 4803(a), requires
each federal banking agency to streamline and modify its regulations
and written policies in order to improve efficiency, reduce unnecessary
costs, and eliminate unwanted constraints on credit availability.
Section 303(a) also requires each federal banking regulatory agency to
remove inconsistent, outmoded, or duplicative requirements from its
regulations and written policies.
As part of this review, the FDIC has determined that certain
provisions of part 304 contain outmoded and unnecessary language that
needs to be revised or removed. By so doing, the FDIC's regulation
concerning forms, instructions and reports will be updated and
streamlined to provide accurate information.
The FDIC published the current version of the regulation on October
15, 1986 in the Federal Register (51 FR 36684) in accordance with the
APA (U.S.C. 551 et seq.). Section 304.4 was later modified to implement
Section 122 of FDICIA (12 U.S.C. 1817 note) on June 5, 1992 (57 FR
23932). Sections 304.4 and 304.5 are being revised to incorporate the
reporting requirement set forth in Section 37(a)(3)(c) of the FDI Act.
12 U.S.C. 1831n(a)(3)(C). This statutory provision requires that the
Corporation develop a regulation which requires that ``all assets and
liabilities, including contingent assets and liabilities'' be reported
in an insured depository institution's Call Reports. This reporting
requirement, which was enacted as Section 121 of FDICIA in 1991, was
initially implemented by revising the Call Reports in 1992. The
proposed change was published for comment in connection with the FDIC's
Notice of Information Collection submitted to the Office of Management
and Budget. See 57 FR 54235 (Nov. 17, 1992). Section 304.4 is being
further revised to add information which is currently found in the
instructions to the Call Reports regarding the timely filing of the
Call Reports. This requirement was initially issued for notice and
comment under the auspices of the Federal Financial Institutions
Examination Council, and adopted in final in 1988. See, 53 FR 11558
(Apr. 7, 1988) and 53 FR 32104 (Aug. 23, 1988).
Part 304 provides the public with the information about the forms
and reports that insured financial institutions are to submit to the
FDIC. With the exception of the provisions relating to lending to small
farms and small business and the reporting of ``off balance sheet''
items, there is no statutory requirement to provide all of the
information contained in Part 304 by regulation. Thus, through the
proposed changes, the statutory requirements will be retained, FOIA's
publication requirements at 5 U.S.C. 552(a)(1)(C) will continue to be
fulfilled, and the regulatory framework will be streamlined.
II. Public Comment Waiver and Effective Date
This regulation is being issued as a final rule. The APA requires
general notice of proposed rulemaking in the Federal Register; however,
this regulation is exempt from the Federal Register publication
requirement pursuant to 5 U.S.C. 553(b). This section of the APA
exempts ``rules of agency organization, procedure, or practice''. 5
U.S.C. 553(b)(A). Notwithstanding the fact that part 304 is a
procedural rule, some of the proposed language that will be added to
various sections appears to impose new reporting requirements or time
constraints on affected financial institutions. The Call Report filing
deadlines, as well as the requirement to report the contingent assets
and
[[Page 4896]]
liabilities on the Call Report have previously been issued for notice
and comment before being adopted in final form. These requirements have
been in place and insured depository institutions have been complying
with them for a number of years. These pre-existing supervisory
requirements are now being codified in part 304. Moreover, several
other revisions are minor and technical in nature. Therefore, the Board
finds that there is good cause for not providing a notice and comment
period before adopting part 304 in final form. Under the circumstances
described above, notice and comment would be unnecessary and contrary
to the public interest. 5 U.S.C. 553(b)(B).
In addition, the APA provides that a substantive rule shall be
published in the Federal Register not less than 30 days before its
effective date. However, this APA requirement does not apply to Part
304 since it is a rule of agency procedure. 5 U.S.C. 553(d).
Alternatively, the amendments are of such a nature that the public does
not need a delayed period of time in which to conform or adjust to the
amendments. Thus, the Board finds that there exists good cause for not
delaying the effective date of these amendments. 5 U.S.C. 553(d)(3).
III. Matters of Regulatory Procedure
Regulatory Flexibility Act
Part 304 is a rule relating to agency organization, procedure, or
practice, and is therefore not subject to the provisions of the
Regulatory Flexibility Act. Further, because the revisions to part 304
will be published in final form without a notice of proposed
rulemaking, no regulatory flexibility analysis is required.
Paperwork Reduction Act
No further collection of information is required as a result of the
regulatory amendments. Therefore, no material will be submitted to the
OMB for review pursuant to the Paperwork Reduction Act. 44 U.S. 3501 et
seq.
Contract With America/SBREFA Analysis
The Small Business Regulatory Enforcement Fairness Act of 1996
(SBREFA), Title II of the Contract with America Advancement Act of 1996
(Pub. L. 104-121), provides generally for Congressional review of final
agency rules. When required by SBREFA, the FDIC reports rules to
Congress. The reporting requirement is triggered in instances where the
FDIC issues a final rule as defined by the APA at 5 U.S.C. 551. The
FDIC will file the appropriate report pursuant to the statute.
The Office of Management and Budget has determined that this final
revision to part 304 does not constitute a ``major'' rule as defined by
the statute.
List of Subjects in 12 CFR Part 304
Bank deposit insurance, Bank, banking, Freedom of information,
Reporting and recordkeeping requirements.
For the reasons set forth above, 12 CFR part 304 is amended as set
forth below:
PART 304--FORMS, INSTRUCTIONS AND REPORTS
1. The authority citation for part 304 continues to read as
follows:
Authority: 5 U.S.C. 552; 12 U.S.C. 1817, 1818, 1819, 1820;
Public Law 102-242, 105 Stat. 2251 (12 U.S.C. 1817 note).
Sec. 304.1 [Amended]
2. Section 304.1 is amended by removing the word ``all'' from the
last sentence.
3. Section 304.2 is revised to read as follows:
Sec. 304.2 Forms and instructions--general.
Necessary forms with their related instructions to be used in
connection with applications, reports, and other submittals can be
obtained from FDIC regional offices--Division of Supervision. The FDIC
regional offices are listed in the directory of the FDIC Law,
Regulations and Related Acts looseleaf service, published by the FDIC.
A listing of FDIC forms can also be obtained by writing to the FDIC,
Division of Supervision, 550 17th Street, NW, Washington, D.C. 20429.
The forms are also available in the FDIC Public Information Center at
801 17th Street, NW, Washington, D.C. 20429.
4. Section 304.3 is revised to read as follows:
Sec. 304.3 Certified statements.
The certified statements required to be filed by insured
institutions under the provisions of section 7 of the Federal Deposit
Insurance Act (12 U.S.C. 1817), as amended, shall be filed in
accordance with part 327 of this chapter. The applicable forms are Form
6420/07A--Form 6420/07H which show the computation of the semiannual
assessment due to the Corporation from an insured depository
institution. As provided for in part 327 of this chapter, the forms
will be furnished to insured depository institutions by the Corporation
twice each calendar year and the completed statement must be returned
to the Corporation by each institution.
5. Section 304.4 is revised to read as follows:
Sec. 304.4 Reports of condition and income.
(a) Description. Forms FFIEC 031, 032, 033, and 034, Consolidated
Reports of Condition and Income, are quarterly reports for insured
state nonmember banks (except District banks) of different asset sizes
or with foreign offices, as appropriate, that are required to be
prepared as of the close of business on the following report dates:
March 31, June 30, September 30, and December 31. These reports are
also known as the ``Call Report.'' The Call Report includes a balance
sheet, an income statement, and a statement of changes in equity
capital of the reporting bank. Supporting schedules request additional
detail with respect to charge-offs and recoveries, income from
international operations, specific asset and liability accounts, off-
balance sheet items, past due and nonaccrual assets, information for
assessment purposes, and regulatory capital. All assets and
liabilities, including contingent assets and liabilities, must be
reported in, or otherwise taken into account in the preparation of, the
Call Report. Reporting banks must also submit annually such information
on small business and small farm lending as the FDIC may need to assess
the availability of credit to these sectors of the economy. Call
Reports must be prepared in accordance with the appropriate
instructions contained in the Federal Financial Institutions
Examination Council booklet entitled ``Instructions--Consolidated
Reports of Condition and Income''. The report forms, the instructions
for completing the reports, and the accompanying materials will be
furnished to all insured state nonmember banks (except District banks)
by, or may be obtained upon request from, the Call Reports Analysis
Unit, Division of Supervision, FDIC, Washington, D.C. 20429.
(b) Submission of reports. All insured state nonmember banks
(except District banks) shall file their completed reports by the
method and with the appropriate collection agent for the FDIC as
designated in the materials accompanying the report forms each quarter.
Completed reports must be received no more than 30 calendar days after
the report date, subject to the timely filing provisions set forth in
the ``Instructions--Consolidated Reports of Condition and Income'' and
in the materials accompanying the report forms each quarter. Any bank
which has or has had more than one foreign office,
[[Page 4897]]
other than a shell branch or an International Banking Facility, may
take an additional 15 calendar days to submit its Call Reports. A bank
using any of these additional 15 calendar days to complete its reports
is required to submit its reports electronically.
6. Section 304.5 is revised to read as follows:
Sec. 304.5 Other forms.
The forms described in this section have been prepared for the use
of banks.
(a) Form 8020/05: Summary of Deposits. Form 8020/05 is a report on
the amount of deposits for each authorized office of an insured bank
with branches; unit banks do not report. Reports as of June 30 of each
year must be submitted no later than the immediately succeeding July
31. The report is filed with the appropriate collection agent for the
FDIC as designated in the materials accompanying the survey forms each
year. The report forms and the instructions for completing the reports
will be furnished to all such banks by, or may be obtained upon request
from the Trust and Survey Group, Division of Supervision, FDIC, 550
17th Street, NW, Washington, D.C. 20429.
(b) Form 6120/06: Notification of Performance of Bank Services.
Form 6120/06 may be used to satisfy the notice requirement for bank
service arrangements that is contained in section 7 of the Bank Service
Corporation Act (12 U.S.C. 1867), as amended. In lieu of the form, a
bank may satisfy the requirement by submitting a letter stating: The
name of the servicer; the address at which the service is performed;
the service being performed; and the date the service commenced. Either
the form or the letter containing the notice information must be
submitted to the regional director--Division of Supervision of the
region in which the bank's main office is located within 30 days of the
making of the bank service contract or the performance of the bank
service, whichever occurs first.
(c) Form FFIEC 001: Annual Report of Trust Assets. This report must
be filed by all insured state nonmember commercial and savings banks
operating trust departments or banks granted consent by the Corporation
to exercise trust powers, and their trust subsidiaries. The report must
be filed no later than February 15th of each year. When circumstances
necessitate, additional information may be required about certain
operations of the trust department. The report must be prepared and
submitted in accordance with the appropriate instructions. The report
is filed with the appropriate collection agent for the FDIC as
designated in the report form and instructions. The report forms and
instructions for completing the report will be furnished automatically
to all such banks by, or may be obtained upon request from the Trust
and Survey Group, Division of Supervision, FDIC, 550 17th Street, NW,
Washington, D.C. 20429.
(d) Form FFIEC 002: Report of Assets and Liabilities of U.S.
Branches and Agencies of Foreign Banks. Form FFIEC 002 is a report in
the form of a statement of the assets and liabilities of U.S. branches
and agencies of foreign banks together with supporting schedules that
request additional detail with respect to selected assets and
liabilities, off-balance sheet items, and, in the case of insured
branches, information for assessment purposes. All assets and
liabilities, including contingent assets and liabilities, must be
reported in, or otherwise taken into account in the preparation of,
this report. Insured branches must also submit annually such
information on small business and small farm lending as the FDIC may
need to assess the availability of credit to these sectors of the
economy. The report must be prepared in accordance with the
instructions contained in the instruction booklet for the report,
copies of which are furnished to all U.S. branches and agencies of
foreign banks by the Federal Reserve System. The Board of Governors of
the Federal Reserve System collects and processes the report on behalf
of FDIC-supervised branches. The report is submitted quarterly to the
appropriate Federal Reserve district bank.
(e) Form FFIEC 004: Report on Indebtedness of Executive Officers
and Principal Shareholders and their Related Interests to Correspondent
Banks. Form FFIEC 004 is a recommended form that may be used by the
executive officers and principal shareholders of an insured state
nonmember bank to report to the board of directors of their bank on
their indebtedness (and that of their related interests) to
correspondent banks, as required by part 349 of this chapter. The
reports or any form containing identical information must be submitted
to the bank's board of directors by January 31 of each year and cover
indebtedness to correspondent banks during the preceding calendar year.
Form FFIEC 004 is mailed annually by the FDIC to each insured state
nonmember bank.
7. Appendix A to part 304 is revised to read as follows:
Appendix A to Part 304--List of Forms
[Note: See footnotes at end of table.]
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Section of FDICs
regulations (12 CFR
Form Title chapter III) where the OMB No.
form is referenced
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FDIC 6112/01.......................... Initial Statement of 335.413................. 3064-0030
Beneficial Ownership of
Equity Securities (Form F-7).
FDIC 6112/02.......................... Statement of Changes in 335.414................. 3064-0030
Beneficial Ownership of
Equity Securities (Form F-8).
FDIC 6120/06.......................... Notification of Bank Services. 304.5(b)................ 3064-0029
FDIC 6200/05.......................... Application for Federal 303.1................... 3064-0001
Deposit Insurance (Commercial
Banks).
FDIC 6200/06.......................... Financial Report.............. (\1\)................... 3064-0006
FDIC 6200/07.......................... Application for Federal 303.1................... 3064-0069
Deposit Insurance for
Operating Noninsured
Institutions.
FDIC 6200/09.......................... Application for Consent to (\2\)................... 3064-0025
Exercise Trust Powers.
FDIC 6220/01.......................... Application for a Merger or 303.3................... 3064-0016
Other Transaction Pursuant to
Section 19(c) of the Federal
Deposit Insurance Act.
FDIC 6220/07.......................... Application for a Merger or 303.7(b)(1) and 303.3... 3064-0015
Other Transaction Pursuant to
Section 18(c) of the Federal
Deposit Insurance Act
(Phantom or Corporate
Reorganization).
FDIC 6342/12.......................... Request for Deregistration 341.5................... 3064-0027
Registered Transfer Agent.
FDIC 6420/07.......................... Certified Statement........... 304.3(a)................ 3064-0057
FDIC 6440/12.......................... Loan/Application Register..... 338.8(\3\).............. 7100-0247
[[Page 4898]]
FDIC 6710/06.......................... Suspicious Activity Report.... 353.1................... 3064-0077
FDIC 6710/07.......................... Application Pursuant to (\4\)................... 3064-0018
Section 19 of the Federal
Deposit Insurance Act.
FDIC 6810/01.......................... Notification of Addition of a 333.2................... 3064-0097
Director or Employment of a
Senior Executive Officer.
FDIC 6822/01.......................... Notice of Acquisition of 303.4(b)................ 3064-0019
Control.
FDIC 8020/05.......................... Summary of Deposits........... 304.5(a)................ 3064-0061
FFIEC 001............................. Annual Report of Trust Assets. 304.5(c)................ 3064-0024
FFIEC 002............................. Report of Assets and 304.5(d)................ 7100-0032
Liabilities of U.S. Branches
and Agencies of Foreign Banks.
FFIEC 004............................. Report on Indebtedness of 304.5(e)................ 3064-0023
Executive Officers and
Principal Shareholders and
their Related Interests to
Correspondent Banks.
FFIEC 009............................. Country Exposure Report....... 351.3(b)................ 3064-0017
FFIEC 009a............................ Country Exposure Information 351.3................... 3064-0017
Report.
FFIEC 019............................. Country Exposure Report for (\5\)................... 3064-0017
U.S. Branches and Agencies of
Foreign Banks.
FFIEC 030............................. Foreign Branch Report of 347.6(b)................ 3064-0011
Condition.
FFIEC 031............................. Consolidated Reports of 304.4................... 3064-0052
Condition and Income for a
Bank with Domestic and
Foreign Offices.
FFIEC 032............................. Consolidated Reports of 304.4................... 3064-0052
Condition and Income for a
Bank with Domestic Offices
Only and Total Assets of $300
Million or More.
FFIEC 033............................. Consolidated Reports of 304.4................... 3064-0052
Condition and Income for a
Bank with Domestic Offices
Only and Total Assets of $100
Million or More But Less Than
$300 Million.
FFIEC 034............................. Consolidated Reports of 304.4................... 3064-0052
Condition and Income for a
Bank with Domestic Offices
Only and Total Assets of Less
than $100 Million.
FFIEC 035............................. Monthly Consolidated Foreign (\6\)................... 1557-0156
Currency Report of Banks in
the United States.
GFIN.................................. Notice of Government (\7\)................... 1535-0089
Securities Broker or
Government Securities Dealer
Activities to be Filed by a
Financial Institution Under
Section 15C(a)(1)(B).
GFIN-W................................ Notice by Financial (\7\)................... 7100-0224
Institutions of Termination
of Activities as a Government
Securities Broker or
Government Securities Dealer.
GFIN-4................................ Disclosure Form for Person (\7\)................... 1535-0089
Associated With a Financial
Institution Government
Securities Broker or Dealer.
GFIN-5................................ Uniform Termination Notice for (\7\)................... 1535-0089
Person Associated With a
Financial Institution
Government Securities Broker
or Dealer.
MSD 4................................. Uniform Application for 343.3................... 3064-0022
Municipal Securities
Principal or Municipal
Securities Representative
Associated With a Bank
Municipal Securities Dealer.
MSD 5................................. Uniform Termination for 343.3................... 3064-0022
Municipal Securities
Principal or Municipal
Securities Representative
Associated With a Bank
Municipal Securities Dealer.
TA-1.................................. Transfer Agent Registration 341.6................... 3064-0026
and Amendment Form.
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Notes:
\1\ Not referenced in 12 CFR chapter III. The report form is submitted by each individual director or officer of
a proposed or operating bank applying to the FDIC for federal deposit insurance as a state nonmember bank, or
by a person proposing to acquire ownership or control of an insured state nonmember bank.
\2\ The report form can be obtained from the HMDA Assistance line by telephoning (202) 452-2016.
\3\ Not referenced in 12 CFR chapter III. The application form is submitted by insured state nonmember banks
applying for FDIC consent to exercise trust powers.
\4\ Not referenced in 12 CFR chapter III. The application form is submitted by FDIC-insured banks applying for
FDIC consent to employ persons who have been convicted of crimes involving dishonesty or breach of trust.
\5\ Not referenced in 12 CFR chapter III. The report form is submitted by state chartered and federally-licensed
branches and agencies of foreign banks in the U.S. with $30 million or more in total direct claims on foreign
residents. The Federal Reserve Board collects and processes the report on behalf of FDIC-supervised branches.
The report is submitted quarterly to the appropriate Federal Reserve district bank.
\6\ Not referenced in 12 CFR chapter III. The report form is submitted by banks (other than savings banks) and
bank holding companies with a dollar equivalent of $100 million or more in assets, liabilities, foreign
exchange contracts bought and foreign exchange contracts sold in any six specific foreign currencies as of the
end of a month. The Office of the Comptroller of the Currency collects and processes this monthly report on
behalf of insured state nonmember banks.
\7\ Not referenced in 12 CFR chapter III. The report form is submitted by banks or persons associated with banks
required to file under section 15C of the Securities and Exchange Act of 1934.
[[Page 4899]]
Appendix B to Part 304--[Removed]
8. Appendix B to part 304 is removed.
By Order of the Board of Directors.
Dated at Washington, D.C., this 21st day of January, 1997.
Federal Deposit Insurance Corporation.
Jerry L. Langley,
Executive Secretary.
[FR Doc. 97-2530 Filed 1-31-97; 8:45 am]
BILLING CODE 6714-01-P
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