The Annual Report of Trust Assets (ARTA) forms and instructions for 1999 will soon be sent to commercial banks, savings banks and savings associations that have approval to exercise trust powers. Affiliated trust companies must also complete the report. Institutions completing hard- copy forms must submit the report by February 15, 2000. Institutions submitting the annual report via the Internet have until March 15, 2000, to complete and submit the report.
The Federal Deposit Insurance Corporation (FDIC) collects and processes the forms on behalf of the member agencies of the Federal Financial Institutions Examination Council (FFIEC). The information is used in the supervision and examination of trust institutions by the FDIC, the Federal Reserve System, the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
Internet transmission of the report is faster and more efficient than hard-copy submission. Several online edits are built into the system, which should eliminate follow-up calls from the FDIC's Trust and Survey analysts. For detailed instructions on how to submit the form electronically, please refer to FIL-101-99, dated November 5, 1999, which can be accessed from the FDIC's Web site (www.fdic.gov) under "News, Events and FOIA." Questions about electronic filing may be e-mailed to firstname.lastname@example.org.
If your institution does not exercise its trust powers, you must so indicate in item one of the signature page and return only that page in the envelope provided with the report, or by completing item one and submitting the form electronically. In addition, Schedule D should be completed only by those few institutions that have an affiliated investment advisor. In such cases, the affiliated investment advisor must complete the hard-copy form (electronic submission of Schedule D is not allowed) and return it directly to the FFIEC at the address shown on the form, not to the FDIC.
Based on the data collected for the Annual Report of Trust Assets, a book will be published with information on trust assets, collective investment funds, corporate trust activities, affiliated investment advisors and fiduciary income. Those institutions required to respond to this request will receive a copy of the book. The information in the annual trust publication will also be available on the FDIC's Web site under "Bank Data."
For more information on filing requirements, please call the FDIC's Trust and Survey Group at
1-800-765-4081, or contact your primary supervisor at the telephone number listed on page two of the instructions.
James L. Sexton
Distribution: Selected Banks, Trust Companies and Savings Associations
NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).