31009Federal Register / Vol. 70, No. 103 / Tuesday, May 31, 2005 / Notices
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request
AGENCIES: 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: Notice of information collection
to be submitted to OMB for review and
approval under the Paperwork
Reduction Act of 1995.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35), 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. On April 29,
2004, the agencies requested public
comment for 60 days on proposed
revisions to the instructions for the
Consolidated Reports of Condition and
Income (Call Report), which are
currently approved collections of
information. After considering the
comments received, the Federal
Financial Institutions Examination
Council (FFIEC), of which the agencies
are members, has adopted the proposed
instructional revisions and also will add
new items to the Call Report based on
suggestions by commenters. In addition,
on March 11, 2005, the agencies
requested public comment for 60 days
on other proposed revisions to the Call
Report. The FFIEC and the agencies
have considered the comments received
on these additional revisions, which the
FFIEC has adopted as proposed. The
agencies are submitting the revisions
adopted by the FFIEC to OMB for
review and approval.
DATES: Comments must be submitted on
or before June 30, 2005.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the OMB control
number(s), will be shared among the
agencies.
OCC: You may submit comments,
identified by [Attention: 1557–0081], by
any of the following methods:
• E-mail:
regs.comments@occ.treas.gov. Include
[Attention: 1557–0081] in the subject
line of the message.
• Fax: (202) 874–4448.
• Mail: Public Information Room,
Office of the Comptroller of the
Currency, 250 E Street, SW., Mailstop
1–5, Washington, DC 20219; Attention:
1557–0081.
Public Inspection: You may inspect
and photocopy comments at the Public
Information Room. You can make an
appointment to inspect the comments
by calling (202) 874–5043.
Board: You may submit comments,
which should refer to ‘‘Consolidated
Reports of Condition and Income, 7100–
0036,’’ by any of the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments
on the http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include docket number in the subject
line of the message.
• Fax: 202–452–3819 or 202–452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue, NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at http://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
except as necessary for technical
reasons. Accordingly, your comments
will not be edited to remove any
identifying or contact information.
Public comments may also be viewed
electronically or on paper in Room MP–
500 of the Board’s Martin Building (20th
and C Streets, NW.) between 9 a.m. and
5 p.m. on weekdays.
FDIC: You may submit comments,
which should refer to ‘‘Consolidated
Reports of Condition and Income, 3064–
0052,’’ by any of the following methods:
• http://www.FDIC.gov/regulations/
laws/federal/propose.html.
• E-mail: comments@FDIC.gov.
Include ‘‘Consolidated Reports of
Condition and Income, 3064–0052’’ in
the subject line of the message.
• Mail: Steven F. Hanft (202–898–
3907), Paperwork Clearance Officer,
Room MB–3064, 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
(located on F Street) on business days
between 7 a.m. and 5 p.m.
Public Inspection: You may inspect
comments at the FDIC Public
Information Center, Room 100, 801 17th
Street, NW., between 9 a.m. and 4:30
p.m. on business days.
A copy of the comments may also be
submitted to the OMB desk officer for
the agencies: Mark Menchik, Office of
Information and Regulatory Affairs,
Office of Management and Budget, New
Executive Office Building, Room 10235,
Washington, DC 20503, or electronic
mail to mmenchik@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the revisions
discussed in this notice, please contact
any of the agency clearance officers
whose names appear below. In addition,
copies of Call Report forms can be
obtained at the FFIEC’s Web site (http:/
/www.ffiec.gov/ffiec_report_forms.htm).
OCC: Mary Gottlieb, OCC Clearance
Officer, or Camille Dixon, (202) 874–
5090, Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
Board: Michelle E. Long, Clearance
Officer, (202) 452–3829, Division of
Research and Statistics, 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: Steven F. Hanft, Paperwork
Clearance Officer, (202) 898–3907, Legal
Division, Federal Deposit Insurance
Corporation, 550 17th Street, NW.,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Request
for OMB approval to revise the currently
approved collections of information
identified below.
The effect of the proposed revisions to
the reporting requirements for the Call
Report will vary from institution to
institution depending on the
institution’s involvement with the types
of activities or transactions to which the
proposed changes apply. More
specifically, the agencies expect that the
reporting changes that relate to certain
securitized U.S. government-guaranteed
or -insured residential mortgage loans
will primarily affect the small
percentage of institutions that originate
or purchase and then securitize these
loans. The revisions to the Call Report
dealing with acquired loans with
evidence of deterioration of credit
quality since origination, including
acquisitions of such loans in business
combinations accounted for using the
purchase method, will generally apply
only to the limited number of
VerDate jul<14>2003 16:14 May 27, 2005 Jkt 205001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\31MYN1.SGM 31MYN1
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE
CORPORATION
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request
AGENCIES: 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: Notice of information collection
to be submitted to OMB for review and
approval under the Paperwork
Reduction Act of 1995.
SUMMARY: In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35), 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. On April 29,
2004, the agencies requested public
comment for 60 days on proposed
revisions to the instructions for the
Consolidated Reports of Condition and
Income (Call Report), which are
currently approved collections of
information. After considering the
comments received, the Federal
Financial Institutions Examination
Council (FFIEC), of which the agencies
are members, has adopted the proposed
instructional revisions and also will add
new items to the Call Report based on
suggestions by commenters. In addition,
on March 11, 2005, the agencies
requested public comment for 60 days
on other proposed revisions to the Call
Report. The FFIEC and the agencies
have considered the comments received
on these additional revisions, which the
FFIEC has adopted as proposed. The
agencies are submitting the revisions
adopted by the FFIEC to OMB for
review and approval.
DATES: Comments must be submitted on
or before June 30, 2005.
ADDRESSES: Interested parties are
invited to submit written comments to
any or all of the agencies. All comments,
which should refer to the OMB control
number(s), will be shared among the
agencies.
OCC: You may submit comments,
identified by [Attention: 1557–0081], by
any of the following methods:
• E-mail:
regs.comments@occ.treas.gov. Include
[Attention: 1557–0081] in the subject
line of the message.
• Fax: (202) 874–4448.
• Mail: Public Information Room,
Office of the Comptroller of the
Currency, 250 E Street, SW., Mailstop
1–5, Washington, DC 20219; Attention:
1557–0081.
Public Inspection: You may inspect
and photocopy comments at the Public
Information Room. You can make an
appointment to inspect the comments
by calling (202) 874–5043.
Board: You may submit comments,
which should refer to ‘‘Consolidated
Reports of Condition and Income, 7100–
0036,’’ by any of the following methods:
• Agency Web Site: http://
www.federalreserve.gov. Follow the
instructions for submitting comments
on the http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
• E-mail:
regs.comments@federalreserve.gov.
Include docket number in the subject
line of the message.
• Fax: 202–452–3819 or 202–452–
3102.
• Mail: Jennifer J. Johnson, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue, NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at http://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
except as necessary for technical
reasons. Accordingly, your comments
will not be edited to remove any
identifying or contact information.
Public comments may also be viewed
electronically or on paper in Room MP–
500 of the Board’s Martin Building (20th
and C Streets, NW.) between 9 a.m. and
5 p.m. on weekdays.
FDIC: You may submit comments,
which should refer to ‘‘Consolidated
Reports of Condition and Income, 3064–
0052,’’ by any of the following methods:
• http://www.FDIC.gov/regulations/
laws/federal/propose.html.
• E-mail: comments@FDIC.gov.
Include ‘‘Consolidated Reports of
Condition and Income, 3064–0052’’ in
the subject line of the message.
• Mail: Steven F. Hanft (202–898–
3907), Paperwork Clearance Officer,
Room MB–3064, 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
(located on F Street) on business days
between 7 a.m. and 5 p.m.
Public Inspection: You may inspect
comments at the FDIC Public
Information Center, Room 100, 801 17th
Street, NW., between 9 a.m. and 4:30
p.m. on business days.
A copy of the comments may also be
submitted to the OMB desk officer for
the agencies: Mark Menchik, Office of
Information and Regulatory Affairs,
Office of Management and Budget, New
Executive Office Building, Room 10235,
Washington, DC 20503, or electronic
mail to mmenchik@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: For
further information about the revisions
discussed in this notice, please contact
any of the agency clearance officers
whose names appear below. In addition,
copies of Call Report forms can be
obtained at the FFIEC’s Web site (http:/
/www.ffiec.gov/ffiec_report_forms.htm).
OCC: Mary Gottlieb, OCC Clearance
Officer, or Camille Dixon, (202) 874–
5090, Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
Board: Michelle E. Long, Clearance
Officer, (202) 452–3829, Division of
Research and Statistics, 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: Steven F. Hanft, Paperwork
Clearance Officer, (202) 898–3907, Legal
Division, Federal Deposit Insurance
Corporation, 550 17th Street, NW.,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Request
for OMB approval to revise the currently
approved collections of information
identified below.
The effect of the proposed revisions to
the reporting requirements for the Call
Report will vary from institution to
institution depending on the
institution’s involvement with the types
of activities or transactions to which the
proposed changes apply. More
specifically, the agencies expect that the
reporting changes that relate to certain
securitized U.S. government-guaranteed
or -insured residential mortgage loans
will primarily affect the small
percentage of institutions that originate
or purchase and then securitize these
loans. The revisions to the Call Report
dealing with acquired loans with
evidence of deterioration of credit
quality since origination, including
acquisitions of such loans in business
combinations accounted for using the
purchase method, will generally apply
only to the limited number of
VerDate jul<14>2003 16:14 May 27, 2005 Jkt 205001 PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\31MYN1.SGM 31MYN1
31010 Federal Register / Vol. 70, No. 103 / Tuesday, May 31, 2005 / Notices
1 The OTS joined with the agencies in the April
2004 proposal. The OTS intends to follow a course
of action similar to the agencies with respect to
mortgage loans subject to buy-back provisions in
the future when updating the reporting
requirements for the Thrift Financial Report.
institutions that are involved in
purchase business combinations or that
engage in purchases of loans with credit
quality problems as a business activity.
The agencies estimate that
implementation of these reporting
changes will result in a small increase
in the current reporting burden imposed
by the Call Report for those institutions
involved with these activities and
transactions. The following burden
estimates include the effect of the
proposed revisions.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: Call Report: FFIEC 031
(for banks with domestic and foreign
offices) and FFIEC 041 (for banks with
domestic offices only).
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
OCC
OMB Number: 1557–0081.
Estimated Number of Respondents:
2,000 national banks.
Estimated Time per Response: 46.45
burden hours.
Estimated Total Annual Burden:
371,633 burden hours.
Board:
OMB Number: 7100–0036.
Estimated Number of Respondents:
922 state member banks.
Estimated Time per Response: 52.38
burden hours.
Estimated Total Annual Burden:
193,177 burden hours.
FDIC
OMB Number: 3064–0052.
Estimated Number of Respondents:
5,263 insured state nonmember banks.
Estimated Time per Response: 37.10
burden hours.
Estimated Total Annual Burden:
781,029 burden hours.
The estimated time per response for
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). The
average reporting burden for the Call
Report includes the effect on burden of
the new Central Data Repository (CDR)
system that the agencies are developing
for processing Call Reports. The time
per response for the Call Report is
estimated to range from 15 to 600 hours,
depending on an individual institution’s
circumstances, before considering the
effect of voluntary testing and global
enrollment activities related to the CDR.
The reporting burden for testing and
enrollment activities for an individual
institution is estimated to range from 16
to 69 hours, depending on the
institution’s level of participation.
General Description of Reports
These information collections are
mandatory: 12 U.S.C. 161 (for national
banks), 12 U.S.C. 324 (for state member
banks), and 12 U.S.C. 1817 (for insured
state nonmember commercial and
savings banks). Except for selected
items, these information collections are
not given confidential treatment.
Abstract
Institutions file Call Reports with 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. In addition, Call Reports
provide the most current statistical data
available for evaluating institutions’
corporate applications such as mergers,
for identifying areas of focus for both
on-site and off-site examinations, and
for monetary and other public policy
purposes. Call Reports are also used to
calculate all institutions’ deposit
insurance and Financing Corporation
assessments and national banks’
semiannual assessment fees.
Current Actions
I. Overview
On April 29, 2004, the agencies
(together with the Office of Thrift
Supervision (OTS)) jointly published a
notice soliciting comments for 60 days
on proposed revisions to the Call Report
(69 FR 23502). This joint notice
requested comment on two proposed
instructional changes that would affect
how institutions report certain
information in the Call Report, but the
notice did not propose to change the
report forms themselves. First, the
agencies proposed to change and clarify
the reporting requirements related to
certain U.S. Government-guaranteed or
-insured residential mortgage loans
backing Government National Mortgage
Association (GNMA) securities that
meet certain delinquency criteria and
are subject to seller buy-back provisions,
i.e., ‘‘GNMA loans.’’ These clarifications
involved the reporting of GNMA loans
as delinquent and the balance sheet
classification of property backing a
delinquent GNMA loan on which an
institution has foreclosed. Second, the
agencies proposed to change the
reporting requirements for ‘‘when-
issued’’ securities from settlement date
accounting to trade date accounting.
The agencies received 13 comments
on their April 2004 proposal, ten from
banks and banking organizations, two
from bankers’ associations, and one
from a trade group whose members
include banking organizations. Only
two of the commenters addressed both
of the subjects in the agencies’ April
2004 proposal. The FFIEC and the
agencies have considered these
comments and have decided to proceed
with the instructional revisions
pertaining to mortgage loans subject to
buy-back provisions, but with the
addition of new items to the Call Report
schedules in which banks report
information on past due loans and on
other real estate owned.1 The FFIEC and
the agencies also have decided against
requiring trade date accounting for all
‘‘when-issued’’ securities. These
decisions are discussed below.
In addition, on March 11, 2005, the
agencies jointly published a notice
requesting comment on proposed
revisions to the Call Report in response
to Statement of Position 03–3,
Accounting for Certain Loans or Debt
Securities Acquired in a Transfer (SOP
03–3), which was issued by the
American Institute of Certified Public
Accountants (70 FR 12269). SOP 03–3
applies to loans acquired in fiscal years
beginning after December 15, 2004. The
agencies proposed to add three items to
the Call Report relating to loans within
the scope of SOP 03–3. The agencies
also proposed a revision to the Call
Report instructions to explain how the
delinquency status of loans within the
scope of SOP 03–3 should be
determined for purposes of disclosing
past due loans in the Call Report.
The agencies received three
comments in response to their March
2005 proposal, one from a community
bank trade association, one from a large
banking organization, and another from
a trade group outside the banking
industry. The FFIEC and the agencies
have considered these comments and, as
discussed below, have decided to
proceed with the SOP 03–3 changes as
proposed.
The revisions to the Call Report have
been approved for publication by the
FFIEC. The agencies will implement the
proposed Call Report changes as of the
June 30, 2005, report date, except for the
revisions pertaining to foreclosed
properties backing delinquent GNMA
loans. Nonetheless, as is customary for
Call Report changes, if the information
to be reported in accordance with the
revised reporting requirements is not
readily available, institutions are
advised that they may report reasonable
VerDate jul<14>2003 16:14 May 27, 2005 Jkt 205001 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 E:\FR\FM\31MYN1.SGM 31MYN1
1 The OTS joined with the agencies in the April
2004 proposal. The OTS intends to follow a course
of action similar to the agencies with respect to
mortgage loans subject to buy-back provisions in
the future when updating the reporting
requirements for the Thrift Financial Report.
institutions that are involved in
purchase business combinations or that
engage in purchases of loans with credit
quality problems as a business activity.
The agencies estimate that
implementation of these reporting
changes will result in a small increase
in the current reporting burden imposed
by the Call Report for those institutions
involved with these activities and
transactions. The following burden
estimates include the effect of the
proposed revisions.
Report Title: Consolidated Reports of
Condition and Income (Call Report).
Form Number: Call Report: FFIEC 031
(for banks with domestic and foreign
offices) and FFIEC 041 (for banks with
domestic offices only).
Frequency of Response: Quarterly.
Affected Public: Business or other for-
profit.
OCC
OMB Number: 1557–0081.
Estimated Number of Respondents:
2,000 national banks.
Estimated Time per Response: 46.45
burden hours.
Estimated Total Annual Burden:
371,633 burden hours.
Board:
OMB Number: 7100–0036.
Estimated Number of Respondents:
922 state member banks.
Estimated Time per Response: 52.38
burden hours.
Estimated Total Annual Burden:
193,177 burden hours.
FDIC
OMB Number: 3064–0052.
Estimated Number of Respondents:
5,263 insured state nonmember banks.
Estimated Time per Response: 37.10
burden hours.
Estimated Total Annual Burden:
781,029 burden hours.
The estimated time per response for
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). The
average reporting burden for the Call
Report includes the effect on burden of
the new Central Data Repository (CDR)
system that the agencies are developing
for processing Call Reports. The time
per response for the Call Report is
estimated to range from 15 to 600 hours,
depending on an individual institution’s
circumstances, before considering the
effect of voluntary testing and global
enrollment activities related to the CDR.
The reporting burden for testing and
enrollment activities for an individual
institution is estimated to range from 16
to 69 hours, depending on the
institution’s level of participation.
General Description of Reports
These information collections are
mandatory: 12 U.S.C. 161 (for national
banks), 12 U.S.C. 324 (for state member
banks), and 12 U.S.C. 1817 (for insured
state nonmember commercial and
savings banks). Except for selected
items, these information collections are
not given confidential treatment.
Abstract
Institutions file Call Reports with 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. In addition, Call Reports
provide the most current statistical data
available for evaluating institutions’
corporate applications such as mergers,
for identifying areas of focus for both
on-site and off-site examinations, and
for monetary and other public policy
purposes. Call Reports are also used to
calculate all institutions’ deposit
insurance and Financing Corporation
assessments and national banks’
semiannual assessment fees.
Current Actions
I. Overview
On April 29, 2004, the agencies
(together with the Office of Thrift
Supervision (OTS)) jointly published a
notice soliciting comments for 60 days
on proposed revisions to the Call Report
(69 FR 23502). This joint notice
requested comment on two proposed
instructional changes that would affect
how institutions report certain
information in the Call Report, but the
notice did not propose to change the
report forms themselves. First, the
agencies proposed to change and clarify
the reporting requirements related to
certain U.S. Government-guaranteed or
-insured residential mortgage loans
backing Government National Mortgage
Association (GNMA) securities that
meet certain delinquency criteria and
are subject to seller buy-back provisions,
i.e., ‘‘GNMA loans.’’ These clarifications
involved the reporting of GNMA loans
as delinquent and the balance sheet
classification of property backing a
delinquent GNMA loan on which an
institution has foreclosed. Second, the
agencies proposed to change the
reporting requirements for ‘‘when-
issued’’ securities from settlement date
accounting to trade date accounting.
The agencies received 13 comments
on their April 2004 proposal, ten from
banks and banking organizations, two
from bankers’ associations, and one
from a trade group whose members
include banking organizations. Only
two of the commenters addressed both
of the subjects in the agencies’ April
2004 proposal. The FFIEC and the
agencies have considered these
comments and have decided to proceed
with the instructional revisions
pertaining to mortgage loans subject to
buy-back provisions, but with the
addition of new items to the Call Report
schedules in which banks report
information on past due loans and on
other real estate owned.1 The FFIEC and
the agencies also have decided against
requiring trade date accounting for all
‘‘when-issued’’ securities. These
decisions are discussed below.
In addition, on March 11, 2005, the
agencies jointly published a notice
requesting comment on proposed
revisions to the Call Report in response
to Statement of Position 03–3,
Accounting for Certain Loans or Debt
Securities Acquired in a Transfer (SOP
03–3), which was issued by the
American Institute of Certified Public
Accountants (70 FR 12269). SOP 03–3
applies to loans acquired in fiscal years
beginning after December 15, 2004. The
agencies proposed to add three items to
the Call Report relating to loans within
the scope of SOP 03–3. The agencies
also proposed a revision to the Call
Report instructions to explain how the
delinquency status of loans within the
scope of SOP 03–3 should be
determined for purposes of disclosing
past due loans in the Call Report.
The agencies received three
comments in response to their March
2005 proposal, one from a community
bank trade association, one from a large
banking organization, and another from
a trade group outside the banking
industry. The FFIEC and the agencies
have considered these comments and, as
discussed below, have decided to
proceed with the SOP 03–3 changes as
proposed.
The revisions to the Call Report have
been approved for publication by the
FFIEC. The agencies will implement the
proposed Call Report changes as of the
June 30, 2005, report date, except for the
revisions pertaining to foreclosed
properties backing delinquent GNMA
loans. Nonetheless, as is customary for
Call Report changes, if the information
to be reported in accordance with the
revised reporting requirements is not
readily available, institutions are
advised that they may report reasonable
VerDate jul<14>2003 16:14 May 27, 2005 Jkt 205001 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 E:\FR\FM\31MYN1.SGM 31MYN1