FDIC Announces Pilot Project to Collect Trust Survey Data via the Internet
The Federal Deposit Insurance Corporation, as collection agent for the Federal Financial Institutions Examination Council's (FFIEC) 1997 Annual Report of Trust Assets (ARTA), has initiated a pilot project to collect this survey data via the Internet.
The Internet reporting system has several advantages, including faster and more efficient data transmission. It also allows for automatic calculation of the total fields to ensure that schedules balance before transmission, which will reduce or eliminate follow-up calls to the institutions from FDIC Trust and Survey analysts.
We have identified the 200 largest reporting trust institutions for the pilot project. Participating institutions will need a connection to the Internet, typically supplied by an Internet Service Provider (ISP). A web browser that supports 128 bit encryption is also required (Netscape and Internet Explorer both have versions that support 128 bit encryption). If your institution does not have a browser that supports 128 bit encryption, you can download the encryption from the Internet. The FDIC will advise participating institutions on how to download. A participating institution will also need cookies (to store and retrieve information) on the PC and Java Script on the PC and on the server.
If your institution would like to participate in this pilot project or you have questions, please contact Gary Bowman (202-898-6566, e-mail: firstname.lastname@example.org) or Joy Castillo (202-898-6938, e-mail: email@example.com) by January 5, 1998. They may also be reached, toll free, at the FDIC's Trust and Survey Unit, 1-800-765-4081 (then use the last five digits of their direct telephone numbers). Please provide us with a contact person, telephone number and 4-digit authentication code. During the first week of January 1998, the FDIC's Division of Information Resources Management will issue you instructions on how to access the Internet site. The site will be available from mid-January through mid-March, allowing an extra month of reporting time for institutions electing to report the ARTA survey via the Internet.
All institutions required to submit the ARTA survey will be sent the hard copy instructions and forms during the first week of January, including those institutions participating in the Internet pilot project. Each registered investment advisor or affiliate will continue to complete the Schedule D "Affiliated Investment Advisor," as applicable, and submit it in hard copy format to the FFIEC.
Thank you for your cooperation.
Nicholas J. Ketcha Jr.
Distribution: Selected Banks, Trust Companies and Savings Associations
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200). Electronic versions of FILs and Press Releases are available on the FDIC's web site - /banknews