82580 Federal Register / Vol. 85, No. 244 / Friday, December 18, 2020 / Notices
CV and a restatement of the current
sector they represent by the deadline.
Nominations are open to all individuals
without regard to race, color, religion,
sex, national origin, age, mental or
physical disability, marital status, or
sexual orientation. Evaluations will be
based on the materials submitted.
Authority: 42 U.S.C. 300d–4(b); 49 CFR
1.95(i)(4).
Issued in Washington, DC.
Nanda Narayanan Srinivasan,
Associate Administrator, Research and
Program Development.
[FR Doc. 2020–27942 Filed 12–17–20; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities; Comment
Request
AGENCY: 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: Joint notice and request for
comment.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (PRA), 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. The Federal Financial
Institutions Examination Council
(FFIEC), of which the agencies are
members, has approved the agencies’
publication for public comment of a
proposal to revise and extend the
Consolidated Reports of Condition and
Income (Call Reports) (FFIEC 031,
FFIEC 041, and FFIEC 051), which are
currently approved collections of
information. The agencies are requesting
comment on a change to the Call Report
forms and instructions (FFIEC 031 and
FFIEC 041 only) to implement the
FDIC’s proposed amendments to the
deposit insurance assessment system
applicable to all large insured
depository institutions (IDIs), including
highly complex IDIs, to address the
temporary deposit insurance assessment
effects resulting from certain optional
regulatory capital transition provisions
relating to the implementation of the
current expected credit losses (CECL)
methodology. The change to the Call
Reports would enable the FDIC to
remove the double counting of a
specified portion of the CECL
transitional amount or the modified
CECL transitional amount, as applicable
(collectively, the CECL transitional
amounts), in certain financial measures
that are calculated using the sum of Tier
1 capital and reserves and that are used
to determine assessment rates for large
and highly complex IDIs.
DATES: Comments must be submitted on
or before February 16, 2021.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ will be shared among the
agencies.
OCC: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office, Office
of the Comptroller of the Currency,
Attention: 1557–0081, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, suite 3E–218, Washington,
DC 20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0081’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection by the following
method:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the drop-
down menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0081.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
Board: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Agency website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Email: regs.comments@
federalreserve.gov. Include ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions’’ in the subject line of the
message.
• Fax: (202) 395–6974.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available on
the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information.
FDIC: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Agency website: https://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC’s website.
• Federal eRulemaking Portal:
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Email: comments@FDIC.gov.
Include ‘‘Call Report Deposit Insurance
Assessment-Related Revisions’’ in the
subject line of the message.
• Mail: Manuel E. Cabeza, Counsel,
Attn: Comments, Room MB–3128,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
VerDate Sep<11>2014 22:22 Dec 17, 2020 Jkt 253001 PO 00000 Frm 00155 Fmt 4703 Sfmt 4703 E:\FR\FM\18DEN1.SGM 18DEN1
khammond on DSKJM1Z7X2PROD with NOTICES
CV and a restatement of the current
sector they represent by the deadline.
Nominations are open to all individuals
without regard to race, color, religion,
sex, national origin, age, mental or
physical disability, marital status, or
sexual orientation. Evaluations will be
based on the materials submitted.
Authority: 42 U.S.C. 300d–4(b); 49 CFR
1.95(i)(4).
Issued in Washington, DC.
Nanda Narayanan Srinivasan,
Associate Administrator, Research and
Program Development.
[FR Doc. 2020–27942 Filed 12–17–20; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Proposed Agency Information
Collection Activities; Comment
Request
AGENCY: 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: Joint notice and request for
comment.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (PRA), 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. The Federal Financial
Institutions Examination Council
(FFIEC), of which the agencies are
members, has approved the agencies’
publication for public comment of a
proposal to revise and extend the
Consolidated Reports of Condition and
Income (Call Reports) (FFIEC 031,
FFIEC 041, and FFIEC 051), which are
currently approved collections of
information. The agencies are requesting
comment on a change to the Call Report
forms and instructions (FFIEC 031 and
FFIEC 041 only) to implement the
FDIC’s proposed amendments to the
deposit insurance assessment system
applicable to all large insured
depository institutions (IDIs), including
highly complex IDIs, to address the
temporary deposit insurance assessment
effects resulting from certain optional
regulatory capital transition provisions
relating to the implementation of the
current expected credit losses (CECL)
methodology. The change to the Call
Reports would enable the FDIC to
remove the double counting of a
specified portion of the CECL
transitional amount or the modified
CECL transitional amount, as applicable
(collectively, the CECL transitional
amounts), in certain financial measures
that are calculated using the sum of Tier
1 capital and reserves and that are used
to determine assessment rates for large
and highly complex IDIs.
DATES: Comments must be submitted on
or before February 16, 2021.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ will be shared among the
agencies.
OCC: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office, Office
of the Comptroller of the Currency,
Attention: 1557–0081, 400 7th Street
SW, Suite 3E–218, Washington, DC
20219.
• Hand Delivery/Courier: 400 7th
Street SW, suite 3E–218, Washington,
DC 20219.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0081’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection by the following
method:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the drop-
down menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0081.’’ Upon finding the
appropriate information collection, click
on the related ‘‘ICR Reference Number.’’
On the next screen, select ‘‘View
Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
Board: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Agency website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at:
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Email: regs.comments@
federalreserve.gov. Include ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions’’ in the subject line of the
message.
• Fax: (202) 395–6974.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments are available on
the Board’s website at https://
www.federalreserve.gov/apps/foia/
proposedregs.aspx as submitted, unless
modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information.
FDIC: You may submit comments,
which should refer to ‘‘Call Report
Deposit Insurance Assessment-Related
Revisions,’’ by any of the following
methods:
• Agency website: https://
www.fdic.gov/regulations/laws/federal/.
Follow the instructions for submitting
comments on the FDIC’s website.
• Federal eRulemaking Portal:
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Email: comments@FDIC.gov.
Include ‘‘Call Report Deposit Insurance
Assessment-Related Revisions’’ in the
subject line of the message.
• Mail: Manuel E. Cabeza, Counsel,
Attn: Comments, Room MB–3128,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429.
• Hand Delivery: Comments may be
hand delivered to the guard station at
the rear of the 550 17th Street Building
VerDate Sep<11>2014 22:22 Dec 17, 2020 Jkt 253001 PO 00000 Frm 00155 Fmt 4703 Sfmt 4703 E:\FR\FM\18DEN1.SGM 18DEN1
khammond on DSKJM1Z7X2PROD with NOTICES
82581Federal Register / Vol. 85, No. 244 / Friday, December 18, 2020 / Notices
(located on F Street) on business days
between 7:00 a.m. and 5:00 p.m.
• Public Inspection: All comments
received will be posted without change
to https://www.fdic.gov/regulations/
laws/federal/ including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
Additionally, commenters may send a
copy of their comments to the OMB
desk officer for the agencies by mail to
the Office of Information and Regulatory
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the information collections
discussed in this notice, please contact
any of the agency staff whose names
appear below. In addition, copies of the
report forms for the Call Reports can be
obtained at the FFIEC’s website (https://
www.ffiec.gov/ffiec_report_forms.htm).
OCC: Kevin Korzeniewski, Counsel,
Chief Counsel’s Office, (202) 649–5490.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, 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: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
I. Report Summary
The agencies propose to extend for
three years, with revision, their
information collections associated with
the FFIEC 031, FFIEC 041, and FFIEC
051 Call Reports.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: FFIEC 031
(Consolidated Reports of Condition and
Income for a Bank with Domestic and
Foreign Offices), FFIEC 041
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only), and FFIEC 051
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only and Total Assets Less Than
$5 Billion).
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
Type of Review: Revision and
extension of currently approved
collections.
OCC
OMB Control No.: 1557–0081.
Estimated Number of Respondents:
1,111 national banks and federal savings
associations.
Estimated Average Burden per
Response: 41.92 burden hours per
quarter to file.
Estimated Total Annual Burden:
186,292 burden hours to file.
Board
OMB Control No.: 7100–0036.
Estimated Number of Respondents:
739 state member banks.
Estimated Average Burden per
Response: 45.40 burden hours per
quarter to file.
Estimated Total Annual Burden:
134,202 burden hours to file.
FDIC
OMB Control No.: 3064–0052.
Estimated Number of Respondents:
3,263 insured state nonmember
banksand state savings associations.
Estimated Average Burden per
Response: 39.96 burden hours per
quarter to file.
Estimated Total Annual Burden:
521,558 burden hours to file.
The estimated average burden hours
collectively reflect the estimates for the
FFIEC 031, the FFIEC 041, and the
FFIEC 051 reports for each agency.
When the estimates are calculated by
type of report across the agencies, the
estimated average burden hours per
quarter are 85.85 (FFIEC 031), 55.20
(FFIEC 041), and 35.27 (FFIEC 051). The
change to the FFIEC 031 and FFIEC 041
Call Report forms and instructions
proposed in this notice would not have
a material impact on the existing burden
estimates. This notice does not propose
any changes to the FFIEC 051. The
estimated burden per response for the
quarterly filings of the Call Report is an
average that varies by agency because of
differences in the composition of the
institutions under each agency’s
supervision (e.g., size distribution of
institutions, types of activities in which
they are engaged, and existence of
foreign offices).
Type of Review: Extension and
revision of currently approved
collections.
Legal Basis and Need for Collections
The Call Report information
collections are mandatory: 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state
member banks), 12 U.S.C. 1817 (insured
state nonmember commercial and
savings banks), and 12 U.S.C. 1464
(federal and state savings associations).
At present, except for selected data
items and text, these information
collections are not given confidential
treatment.
Banks and savings associations
submit Call Report data to the agencies
each quarter for the agencies’ use in
monitoring the condition, performance,
and risk profile of individual
institutions and the industry as a whole.
Call Report data serve a regulatory or
public policy purpose by assisting the
agencies in fulfilling their shared
missions of ensuring the safety and
soundness of financial institutions and
the financial system and protecting
consumer financial rights, as well as
agency-specific missions affecting
national and state-chartered institutions,
such as conducting monetary policy,
ensuring financial stability, and
administering federal deposit insurance.
Call Reports are the source of the most
current statistical data available for
identifying areas of focus for on-site and
off-site examinations. Among other
purposes, the agencies use Call Report
data in evaluating institutions’ corporate
applications, including interstate merger
and acquisition applications for which
the agencies are required by law to
determine whether the resulting
institution would control more than 10
percent of the total amount of deposits
of insured depository institutions in the
United States. Call Report data also are
used to calculate institutions’ deposit
insurance assessments and national
banks’ and federal savings associations’
semiannual assessment fees.
II. Current Action
A. Background
Upon adoption of the CECL
methodology, an institution will record
a one-time adjustment to its credit loss
allowances as of the beginning of its
fiscal year of adoption equal to the
difference, if any, between the amount
of credit loss allowances required under
the incurred loss methodology and the
amount of credit loss allowances
required under CECL. An institution’s
implementation of CECL will affect its
retained earnings, deferred tax assets,
credit loss allowances, and, as a result,
its regulatory capital ratios.
In recognition of the potential for the
implementation of CECL to affect
regulatory capital ratios, on February 14,
2019, the agencies issued a final rule
that revised certain regulations,
including the agencies’ regulatory
VerDate Sep<11>2014 22:22 Dec 17, 2020 Jkt 253001 PO 00000 Frm 00156 Fmt 4703 Sfmt 4703 E:\FR\FM\18DEN1.SGM 18DEN1
khammond on DSKJM1Z7X2PROD with NOTICES
(located on F Street) on business days
between 7:00 a.m. and 5:00 p.m.
• Public Inspection: All comments
received will be posted without change
to https://www.fdic.gov/regulations/
laws/federal/ including any personal
information provided. Paper copies of
public comments may be requested from
the FDIC Public Information Center by
telephone at (877) 275–3342 or (703)
562–2200.
Additionally, commenters may send a
copy of their comments to the OMB
desk officer for the agencies by mail to
the Office of Information and Regulatory
Affairs, U.S. Office of Management and
Budget, New Executive Office Building,
Room 10235, 725 17th Street NW,
Washington, DC 20503; by fax to (202)
395–6974; or by email to oira_
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the proposed
revisions to the information collections
discussed in this notice, please contact
any of the agency staff whose names
appear below. In addition, copies of the
report forms for the Call Reports can be
obtained at the FFIEC’s website (https://
www.ffiec.gov/ffiec_report_forms.htm).
OCC: Kevin Korzeniewski, Counsel,
Chief Counsel’s Office, (202) 649–5490.
Board: Nuha Elmaghrabi, Federal
Reserve Board Clearance Officer, (202)
452–3884, Office of the Chief Data
Officer, 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: Manuel E. Cabeza, Counsel,
(202) 898–3767, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street NW, Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
I. Report Summary
The agencies propose to extend for
three years, with revision, their
information collections associated with
the FFIEC 031, FFIEC 041, and FFIEC
051 Call Reports.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: FFIEC 031
(Consolidated Reports of Condition and
Income for a Bank with Domestic and
Foreign Offices), FFIEC 041
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only), and FFIEC 051
(Consolidated Reports of Condition and
Income for a Bank with Domestic
Offices Only and Total Assets Less Than
$5 Billion).
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
Type of Review: Revision and
extension of currently approved
collections.
OCC
OMB Control No.: 1557–0081.
Estimated Number of Respondents:
1,111 national banks and federal savings
associations.
Estimated Average Burden per
Response: 41.92 burden hours per
quarter to file.
Estimated Total Annual Burden:
186,292 burden hours to file.
Board
OMB Control No.: 7100–0036.
Estimated Number of Respondents:
739 state member banks.
Estimated Average Burden per
Response: 45.40 burden hours per
quarter to file.
Estimated Total Annual Burden:
134,202 burden hours to file.
FDIC
OMB Control No.: 3064–0052.
Estimated Number of Respondents:
3,263 insured state nonmember
banksand state savings associations.
Estimated Average Burden per
Response: 39.96 burden hours per
quarter to file.
Estimated Total Annual Burden:
521,558 burden hours to file.
The estimated average burden hours
collectively reflect the estimates for the
FFIEC 031, the FFIEC 041, and the
FFIEC 051 reports for each agency.
When the estimates are calculated by
type of report across the agencies, the
estimated average burden hours per
quarter are 85.85 (FFIEC 031), 55.20
(FFIEC 041), and 35.27 (FFIEC 051). The
change to the FFIEC 031 and FFIEC 041
Call Report forms and instructions
proposed in this notice would not have
a material impact on the existing burden
estimates. This notice does not propose
any changes to the FFIEC 051. The
estimated burden per response for the
quarterly filings of the Call Report is an
average that varies by agency because of
differences in the composition of the
institutions under each agency’s
supervision (e.g., size distribution of
institutions, types of activities in which
they are engaged, and existence of
foreign offices).
Type of Review: Extension and
revision of currently approved
collections.
Legal Basis and Need for Collections
The Call Report information
collections are mandatory: 12 U.S.C. 161
(national banks), 12 U.S.C. 324 (state
member banks), 12 U.S.C. 1817 (insured
state nonmember commercial and
savings banks), and 12 U.S.C. 1464
(federal and state savings associations).
At present, except for selected data
items and text, these information
collections are not given confidential
treatment.
Banks and savings associations
submit Call Report data to the agencies
each quarter for the agencies’ use in
monitoring the condition, performance,
and risk profile of individual
institutions and the industry as a whole.
Call Report data serve a regulatory or
public policy purpose by assisting the
agencies in fulfilling their shared
missions of ensuring the safety and
soundness of financial institutions and
the financial system and protecting
consumer financial rights, as well as
agency-specific missions affecting
national and state-chartered institutions,
such as conducting monetary policy,
ensuring financial stability, and
administering federal deposit insurance.
Call Reports are the source of the most
current statistical data available for
identifying areas of focus for on-site and
off-site examinations. Among other
purposes, the agencies use Call Report
data in evaluating institutions’ corporate
applications, including interstate merger
and acquisition applications for which
the agencies are required by law to
determine whether the resulting
institution would control more than 10
percent of the total amount of deposits
of insured depository institutions in the
United States. Call Report data also are
used to calculate institutions’ deposit
insurance assessments and national
banks’ and federal savings associations’
semiannual assessment fees.
II. Current Action
A. Background
Upon adoption of the CECL
methodology, an institution will record
a one-time adjustment to its credit loss
allowances as of the beginning of its
fiscal year of adoption equal to the
difference, if any, between the amount
of credit loss allowances required under
the incurred loss methodology and the
amount of credit loss allowances
required under CECL. An institution’s
implementation of CECL will affect its
retained earnings, deferred tax assets,
credit loss allowances, and, as a result,
its regulatory capital ratios.
In recognition of the potential for the
implementation of CECL to affect
regulatory capital ratios, on February 14,
2019, the agencies issued a final rule
that revised certain regulations,
including the agencies’ regulatory
VerDate Sep<11>2014 22:22 Dec 17, 2020 Jkt 253001 PO 00000 Frm 00156 Fmt 4703 Sfmt 4703 E:\FR\FM\18DEN1.SGM 18DEN1
khammond on DSKJM1Z7X2PROD with NOTICES