Trust and Income Expense
The Federal Financial Institutions Examination Council (FFIEC) is seeking public comment on a proposal to add Schedule E, "Fiduciary Income Statement," to the Annual Report of Trust Assets (form FFIEC 001). The proposed Fiduciary Income Statement would be filed by all depository institutions with $100 million or more in total trust assets. In addition, all non-deposit trust companies would be required to file this proposed schedule. Of the 3,000 banks, savings associations and trust companies that actively engaged in trust activities as of December 31, 1994, less than one-third would be required to report their income and expenses on the proposed new schedule. The requested information would help the federal banking agencies monitor and evaluate the performance of, and risks associated with, fiduciary activities. The proposed Schedule E would be prepared annually beginning with the year ending December 31, 1996. A copy of the FFIEC's request for comment is attached. The data reported by individual institutions would be regarded as confidential by the FFIEC and the banking agencies. However, aggregate information would be published annually with the data from the other schedules that currently are part of form FFIEC 001. The FFIEC is requesting comment on all aspects of the proposed Fiduciary Income Statement. In particular, the FFIEC requests comment on the following:
The FFIEC will accept comments on the proposed Fiduciary Income Statement through August 29, 1995. For more information, please contact your primary federal regulator.
Attachment: PDF Format (84 kb, PDF help or hard copy ), HTML Format Distribution: Selected Banks, Trust Companies and Savings Associations |