[Federal Register Volume 74, Number 159 (Wednesday, August 19, 2009)]
[Notices]
[Pages 41981-41986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-19908]
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DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Proposed Agency Information Collection Activities; Comment
Request--Thrift Financial Report: Schedules SC, RM, CC, DI, and SB
AGENCY: Office of Thrift Supervision (OTS), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other federal agencies to comment on proposed and continuing
information collections, as required by the Paperwork Reduction Act of
1995, 44 U.S.C. 3507. Today, the Office of Thrift Supervision within
the Department of the Treasury solicits comments on proposed changes to
the Thrift Financial Report (TFR), Schedule SC--Consolidated Statement
of Condition, Schedule CC--Consolidated Commitments and Contingencies,
Schedule DI--Consolidated Deposit Information, Schedule SB--
Consolidated Small Business Loans, and on a proposed new schedule,
Schedule RM--Annual Supplemental Consolidated Data on Reverse
Mortgages. The changes are proposed to become effective in March 2010
except for the proposed new schedule RM which would become effective in
December 2010.
At the end of the comment period, OTS will analyze the comments and
recommendations received to determine if it should modify the proposed
revisions prior to giving its final approval. OTS will then submit the
revisions to the Office of Management and Budget (OMB) for review and
approval.
DATES: Submit written comments on or before October 19, 2009.
ADDRESSES: Send comments to Information Collection Comments, Chief
Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW.,
Washington, DC 20552; send facsimile transmissions to FAX number (202)
906-6518; send e-mails to [email protected]; or
hand deliver comments to the Guard's Desk, east lobby entrance, 1700 G
Street, NW., on business days between 9 a.m. and 4 p.m. All comments
should refer to ``TFR Revisions--2010, OMB No. 1550-0023.'' OTS will
post comments and the related index on the OTS Internet Site at http://www.ots.treas.gov. In addition, interested persons may inspect comments
at the Public Reading Room, 1700 G Street, NW., by appointment. To make
an appointment, call (202) 906-5922, send an e-mail to
[email protected], or send a facsimile transmission to (202)
906-7755.
FOR FURTHER INFORMATION CONTACT: You can access sample copies of the
proposed 2010 TFR forms on OTS's Web site at http://www.ots.treas.gov
or you may request them by electronic mail from
[email protected]. You can request additional information
about this proposed information collection from James Caton, Director,
Financial Monitoring and Analysis Division, (202) 906-5680, Office of
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
Title: Thrift Financial Report.
OMB Number: 1550-0023.
Form Number: OTS 1313.
Abstract: OTS is proposing to revise and extend for three years the
TFR, which is currently an approved collection of information.
All OTS-regulated savings associations must comply with the
information collections described in this notice. OTS collects this
information each calendar quarter or less frequently if so stated. OTS
uses this information to monitor the condition, performance, and risk
profile of individual
[[Page 41982]]
institutions and systemic risk among groups of institutions and the
industry as a whole. Except for selected items, these information
collections are not given confidential treatment.
Current Action: OTS last revised the form and content of the TFR in
a manner that significantly affected a substantial percentage of
institutions in June 2009, and has additional revisions scheduled to
become effective in December 2009. Since the beginning of 2009 OTS has
evaluated its ongoing information needs. OTS recognizes that the TFR
imposes reporting requirements, which are a component of the regulatory
burden facing institutions. Another contributor to this regulatory
burden is the examination process, particularly on-site examinations
during which institution staff spend time and effort responding to
inquiries and requests for information designed to assist examiners in
evaluating the condition and risk profile of the institution. The
amount of attention that examiners direct to risk areas of the
institution under examination is, in large part, determined from TFR
data. These data, and analytical reports, including the Uniform Thrift
Performance Report, assist examiners in scoping and making their
preliminary assessments of risks during the planning phase of the
examination.
A risk-focused review of the information from an institution's TFR
allows examiners to make preliminary risk assessments prior to onsite
work. The degree of perceived risk determines the extent of the
examination procedures that examiners initially plan for each risk
area. If the outcome of these procedures reveals a different level of
risk in a particular area, the examiner adjusts the examination scope
and procedures accordingly.
TFR data are also a vital source of information for the monitoring
and regulatory activities of OTS. Among their benefits, these
activities aid in determining whether the frequency of an institution's
examination cycle should remain at maximum allowed time intervals,
thereby lessening overall regulatory burden. More risk-focused TFR data
enhance the ability of OTS to assess whether an institution is
experiencing changes in its risk profile that warrant immediate follow-
up, which may include accelerating the timing of an on-site
examination.
In developing this proposal, OTS considered a range of potential
information needs, particularly in the areas of credit risk, liquidity,
and liabilities, and identified those additions to the TFR that are
most critical and relevant to OTS in fulfilling its supervisory
responsibilities. OTS recognizes that increased reporting burden will
result from the addition to the TFR of the new items discussed in this
proposal. Nevertheless, when viewing these proposed revisions to the
TFR within a larger context, they help to enhance the on- and off-site
supervision capabilities of OTS, which assist with controlling the
overall regulatory burden on institutions.
Thus, OTS is requesting comment on the following proposed revisions
to the TFR that would take effect as of March 31, 2010, unless
otherwise noted. These revisions would change the reporting frequency
for small business and small farm data reported in Schedule SB from
annually to quarterly, revise three lines, and add 24 new lines to the
TFR, including the 16 lines proposed for a new Schedule RM.
For each of the proposed revisions or new items, OTS is
particularly interested in comments from institutions on whether the
information that is proposed to be collected is readily available from
existing institution records. OTS also invites comment on whether there
are particular proposed revisions for which the new data would be of
limited relevance for purposes of assessing risks in a specific segment
of the savings association industry. In such cases, OTS requests
comments on what criteria, e.g., an asset size threshold or some other
measure, we should establish for identifying the specific segment of
the savings association industry that we should require to report the
proposed information. Finally, OTS seeks comment on whether, for a
particular proposed revision, there is an alternative information set
that could satisfy OTS data needs and be less burdensome for
institutions to report than the new or revised items that OTS has
proposed. OTS will consider all of the comments it receives as it
formulates a final set of revisions to the TFR for implementation in
2010.
A. Revisions of Existing Items
1. Revising line CC423 from ``Lines and Letters of Credit: Open-End
Consumer Lines: Credit Cards'' to ``Lines and Letters of Credit: Open-
End Lines: Credit Cards--Consumer'';
2. Revising line DI100 from ``Total Broker-Originated Deposits:
Fully Insured'' to ``Total Broker-Originated Deposits: Fully Insured:
With Balances Less than $100,000'';
3. Revising line DI350 from ``Time Deposits of $100,000 or Greater
(Excluding Brokered Time Deposits Participated Out by the Broker in
Shares of Less Than $100,000 and Brokered Certificates of Deposit
Issued in $1,000 Amounts Under a Master Certificate of Deposit)'' to
``Time Deposits of $100,000 through $250,000 (Excluding Brokered Time
Deposits Participated Out by the Broker in Shares of Less Than $100,000
and Brokered Certificates of Deposit Issued in $1,000 Amounts Under a
Master Certificate of Deposit)''; and
4. Revising the reporting frequency for Schedule SB--Consolidated
Small Business Loans from annually to quarterly.
B. New Items
1. Adding a line, SC304, Credit Card Loans Outstanding--Business;
2. Adding a line, CC424, Lines and Letters of Credit: Open-End
Lines: Credit Cards--Other;
3. Adding a line, DI102, Total Broker-Originated Deposits: Fully
Insured: With Balances of $100,000 through $250,000;
4. Adding a line, DI114, Total Broker-Originated Deposits: Interest
Expense for Fully Insured Brokered Deposits;
5. Adding a line, DI116, Total Broker-Originated Deposits: Interest
Expense for Other Brokered Deposits;
6. Adding a line, DI352, Time Deposits Greater than $250,000;
7. Adding a line, DI544, Average Daily Deposit Totals: Fully
Insured Brokered Time Deposits;
8. Adding a line, DI545, Average Daily Deposit Totals: Other
Brokered Time Deposits;
9. Adding a line, RM110, Amount of Home Equity Conversion Mortgage
Loans Outstanding;
10. Adding a line, RM112, Amount of Proprietary (Non-HECM) Reverse
Mortgage Loans Outstanding;
11. Adding a line, RM310, Annual Interest Income from Home Equity
Conversion Mortgage Loans;
12. Adding a line, RM312, Annual Interest Income from Proprietary
(Non-HECM) Reverse Mortgage Loans;
13. Adding a line, RM330, Annual Referral Fee Income from Home
Equity Conversion Mortgage Loans;
14. Adding a line, RM332, Annual Referral Fee Income from
Proprietary (Non-HECM) Reverse Mortgage Loans;
15. Adding a line, RM420, Annual Origination Fee Income from Home
Equity Conversion Mortgage Loans;
16. Adding a line, RM422, Annual Origination Fee Income from
Proprietary (Non-HECM) Reverse Mortgage Loans;
17. Adding a line, RM510, Commitments Outstanding to Originate
Mortgages Secured by Home Equity Conversion Mortgage Loans;
18. Adding a line, RM512, Commitments Outstanding to Originate
[[Page 41983]]
Mortgages Secured by Proprietary (Non-HECM) Reverse Mortgage Loans;
19. Adding a line, RM610, Annual Mortgage Loans Disbursed for
Permanent Loans on Home Equity Conversion Mortgage Loans;
20. Adding a line, RM612, Annual Mortgage Loans Disbursed for
Permanent Loans on Proprietary (Non-HECM) Reverse Mortgage Loans;
21. Adding a line, RM620, Annual Loans and Participations Purchased
Secured By Home Equity Conversion Mortgage Loans;
22. Adding a line, RM622, Annual Loans and Participations Purchased
Secured By Proprietary (Non-HECM) Reverse Mortgage Loans;
23. Adding a line, RM630 Annual Loans and Participations Sold
Secured By Home Equity Conversion Mortgage Loans; and
24. Adding a line, RM632, Annual Loans and Participations Sold
Secured By Proprietary (Non-HECM) Reverse Mortgage Loans.
I. Discussion of Revisions Proposed for March 2010
A. Additional Detail on Credit Card Loans and Commitments
The extent to which the supply of credit has declined during the
current financial crisis has been of great interest to the federal
banking agencies and to Congress. Credit provided by financial
institutions plays a central role in any economic recovery. The federal
banking agencies need data to better determine when credit conditions
have eased. One way to measure the supply of credit is to analyze the
change in total lending commitments by financial institutions,
considering both the amount of loans outstanding and the volume of
unused credit lines. These data are also needed for safety and
soundness purposes because draws on commitments during periods when
financial institutions face significant funding pressures, such as
during the fall of 2008, can place significant and unexpected demands
on the liquidity and capital positions of these institutions.
Therefore, OTS proposes to collect further detail on credit card
lending in TFR Schedules SC and CC. These new data items would improve
the OTS's ability to timely and accurately evaluate trends in thrift
institutions' supply of credit available to households and businesses.
These data would also be useful in determining thrift institutions'
impact on the effectiveness of the government's economic stabilization
programs.
Unused commitments associated with open-end credit card lines are
currently reported in line CC423. This data item is not sufficiently
detailed for monitoring the supply of credit because it mixes consumer
credit card lines with credit card lines for businesses and other
entities. As a result of this aggregation, it is not possible to fully
monitor credit available specifically to households. Furthermore, bank
supervisors would benefit from the split, because the usage patterns,
profitability, and evolution of credit quality through the business
cycle are likely to differ for consumer credit cards and business
credit cards. Therefore, the OTS proposes to revise line CC423 to
collect data on unused credit card lines to consumers, and to add a
line, CC424, to collect data on unused credit card lines to other
entities. Outstanding balances from draws on these credit lines that
have not been sold are already reported on Schedule SC. Thrifts report
draws on credit cards issued to consumers on line SC328. Draws on
credit cards issued to businesses are included with unsecured
commercial loans on line SC303. OTS proposes to add a line, SC304, to
collect data on the amount of business-related credit card loans
outstanding that are included in line SC303.
B. Time Deposits of $100,000 or Greater
On October 3, 2008, the Emergency Economic Stabilization Act of
2008 temporarily raised the standard maximum deposit insurance amount
(SMDIA) from $100,000 to $250,000 per depositor. Under this
legislation, the SMDIA was to return to $100,000 after December 31,
2009. However, on May 20, 2009, the Helping Families Save Their Homes
Act extended this temporary increase in the SMDIA to $250,000 per
depositor through December 31, 2013, after which the SMDIA is scheduled
to return to $100,000.
At present, thrifts report time deposits in TFR Schedule DI,
Consolidated Deposit Information, including total time deposits in line
DI340, time deposits of $100,000 or greater in line DI350, and time
deposits in IRA or Keogh accounts of $100,000 or greater. In response
to the extension of the temporary increase in the limit on deposit
insurance coverage, the federal banking agencies understand that time
deposits with balances in excess of $100,000, but less than or equal to
$250,000, have been growing and can be expected to increase further.
However, given the existing Schedule DI reporting requirements, OTS is
unable to monitor growth in thrifts' time deposits with balances within
the temporarily increased limit on deposit insurance coverage.
Therefore, OTS is proposing to revise line DI350 from ``Time
Deposits of $100,000 or Greater (Excluding Brokered Time Deposits
Participated Out by the Broker in Shares of Less Than $100,000 and
Brokered Certificates of Deposit Issued in $1,000 Amounts Under a
Master Certificate of Deposit)'' to ``Time Deposits of $100,000 through
$250,000 (Excluding Brokered Time Deposits Participated Out by the
Broker in Shares of Less Than $100,000 and Brokered Certificates of
Deposit Issued in $1,000 Amounts Under a Master Certificate of
Deposit)'', and to add a line DI352 for ``Time Deposits Greater than
$250,000''. Existing line DI340, Total Time Deposits, and DI360, IRA/
Keogh Accounts of $100,000 or Greater Included in Time Deposits, would
not change.
C. Revisions of Brokered Deposit Items
As described above in Section II.B., the SMDIA has been increased
temporarily from $100,000 to $250,000 through year-end 2013. However,
the data that thrifts currently report in the TFR on fully insured
brokered deposits in TFR line DI100 is based on the $100,000 insurance
limit (except for brokered retirement deposit accounts for which the
deposit insurance limit was already $250,000). Therefore, in response
to the temporary increase in the SMDIA, OTS is proposing to revise line
DI100 from ``Total Broker-Originated Deposits: Fully Insured'' to
``Total Broker-Originated Deposits: Fully Insured: With Balances Less
than $100,000'', and to add a line DI102 for ``Total Broker-Originated
Deposits: Fully Insured: With Balances of $100,000 through $250,000''.
Furthermore, given the linkage between the deposit insurance limits
and the reporting on fully insured brokered deposits in Schedule DI,
the scope of these items needs to be changed whenever deposit insurance
limits change. To ensure that the scope of these lines, including the
dollar amounts cited in the captions for these items, changes
automatically as a function of the deposit insurance limit in effect on
the report date, the TFR instructions would be revised to state that
the specific dollar amounts used as the basis for reporting fully
insured brokered deposits in lines DI100 and DI102 reflect the deposit
insurance limits in effect on the report date.
In addition, consistent with the reporting of time deposits in
other items of Schedule DI, brokered deposits would be reported based
on their balances rather than the denominations in which they were
issued. Line DI100 would include time deposits issued to
[[Page 41984]]
deposit brokers in the form of large ($100,000 or more) certificates of
deposit that have been participated out by the broker in shares with
balances of less than $100,000. For brokered deposits that represent
retirement deposit accounts eligible for $250,000 in deposit insurance
coverage, report such brokered deposits in this item only if their
balances are less than $100,000.
Line DI102 would include brokered deposits (including brokered
retirement deposit accounts) with balances of $100,000 through
$250,000. Also report in this item brokered deposits that represent
retirement deposit accounts eligible for $250,000 in deposit insurance
coverage that have been issued in denominations of more than $250,000
that have been participated out by the broker in shares of $100,000
through exactly $250,000.
D. Interest Expense and Quarterly Averages for Brokered Deposits
Under Section 29 of the Federal Deposit Insurance Act (12 U.S.C.
1831f), an insured depository institution that is less than well
capitalized generally may not pay a rate of interest that significantly
exceeds the prevailing rate in the institution's ``normal market area''
and/or the prevailing rate in the ``market area'' from which the
deposit is accepted. In the case of an adequately capitalized
institution with a waiver to accept brokered deposits, the institution
may not pay a rate of interest on brokered deposits accepted from
outside the bank's ``normal market area'' that significantly exceeds
the ``national rate'' as defined by the FDIC. On May 29, 2009, the
FDIC's Board of Directors adopted a final rule making certain revisions
to the interest rate restrictions under Section 337.6 of the FDIC's
regulations. Under the final rule, the ``national rate'' is a simple
average of rates paid by U.S. depository institutions as calculated by
the FDIC.\1\ When evaluating compliance with the interest rate
restrictions in Section 337.6 by an institution that is less than well
capitalized, the FDIC generally will deem the national rate to be the
prevailing rate in all market areas. The final rule is effective
January 1, 2010.
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\1\ The FDIC publishes a weekly schedule of national rates and
national interest-rate caps by maturity, which can be accessed at
http://www.fdic.gov/regulations/resources/rates/.
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At present, the federal banking agencies are unable to evaluate the
level and trend of the cost of brokered time deposits to institutions
that have acquired such funds, nor can the agencies compare the cost of
such deposits across institutions with brokered time deposits. Data on
the cost of brokered deposits would also assist the agencies in
evaluating the overall cost of institutions' time deposits, for which
data have long been collected in the Call Report for banks and TFR for
thrifts. Furthermore, many of the financial institutions that have
failed since the beginning of 2008 have relied extensively on brokered
deposits to support their asset growth. Therefore, to enhance OTS's
ability to evaluate funding costs and the impact of brokered time
deposits on these costs, OTS is proposing to add four new line items to
TFR Schedule DI. The other federal banking agencies are proposing to
add similar line items to the Call Report with two Memorandum items to
Schedule RC-K, Quarterly Averages, and two items Schedule RI, Income
Statement.
In these new line items to TFR Schedule DI, thrifts would report
lines DI114 for ``Total Broker-Originated Deposits: Interest Expense
for Fully Insured Brokered Deposits'', DI116 for ``Total Broker-
Originated Deposits: Interest Expense for Other Brokered Deposits'',
DI544 for ``Average Daily Deposit Totals: Fully Insured Brokered Time
Deposits'', and DI545 for ``Average Daily Deposit Totals: Other
Brokered Time Deposits''.
E. Change in Reporting Frequency for Schedule SB--Consolidated Small
Business Loans
Section 122 of the Federal Deposit Insurance Corporation
Improvement Act requires the federal banking agencies to collect from
insured institutions annually the information the agencies ``may need
to assess the availability of credit to small businesses and small
farms.'' The OTS meets this requirement through Schedule SB which
requests information on the number and amount currently outstanding of
``loans to small businesses'' and ``loans to small farms,'' as defined
in the TFR instructions, which all thrift institutions must report
annually as of June 30.
With the United States now more than a year into a recession, the
current administration ``firmly believes that economic recovery will be
driven in large part by America's small businesses,'' but ``small
business owners are finding it harder to get the credit necessary to
stay in business.'' \2\ Because ``[c]redit is essential to economic
recovery,'' Treasury Secretary Geithner stated on March 16, 2009, that
``we need our nation's banks to go the extra mile in keeping credit
lines in place on reasonable terms for viable businesses.'' \3\
Accordingly, Secretary Geithner asked the federal banking agencies ``to
call for quarterly, as opposed to annual reporting of small business
loans, so that we can carefully monitor the degree that credit is
flowing to our nation's entrepreneurs and small business owners.'' \4\
In response to Secretary Geithner's request and to improve the
agencies' own ability to assess the availability of credit to small
businesses and small farms, the OTS proposes to change the frequency
with which thrifts must submit TFR Schedule SB from annually to
quarterly beginning March 31, 2010. OTS is not proposing to make any
revisions to the information that thrifts are required to report on
this schedule. The other federal banking agencies are proposing a
similar change in reporting frequency with which banks must submit Call
Report Schedule RC-C, Part II.
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\2\ http://www.financialstability.gov/roadtostability/smallbusinesscommunity.html.
\3\ http://www.financialstability.gov/latest/tg58-remarks.html.
\4\ Ibid.
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II. Discussion of Revisions Proposed for December 2010
A. Reverse Mortgage Data
Reverse mortgages are complex loan products that leverage equity in
homes to provide lump sum cash payments or lines of credit to
borrowers. These products are typically marketed to senior citizens who
own homes. The federal banking agencies are currently unable to
effectively identify and monitor institutions that offer these products
due to a lack of reverse mortgage data.
The reverse mortgage market currently consists of two basic types
of products: proprietary products designed and originated by financial
institutions and a federally-insured product known as a Home Equity
Conversion Mortgage (HECM). Some reverse mortgages provide for a lump
sum payment to the borrower at closing, with no ability for the
borrower to receive additional funds under the mortgage at a later
date. Other reverse mortgages are structured like home equity lines of
credit in that they provide the borrower with additional funds after
closing, either as fixed monthly payments, under a line of credit, or
both. There are also reverse mortgages that provide a combination of a
lump sum payment to the borrower at closing and additional payments to
the borrower after the closing of the loan.
The volume of reverse mortgage activity is expected to dramatically
increase in the coming years as the U.S. population ages. A number of
consumer protection related risks and safety and
[[Page 41985]]
soundness related risks are associated with these products and the
agencies need to collect information from financial institutions
involved in the reverse mortgage activities to monitor and mitigate
those risks. For example, proprietary reverse mortgages structured as
lines of credit, which are not insured by the federal government,
expose borrowers to the risk that the lender will be unwilling or
unable to meet its obligation to make payments due to the borrower.
Additionally, in those circumstances in which housing prices are
declining, there is the risk that the reverse mortgage loan balance may
exceed the value of the underlying collateral value of the home.
As stated above, access to data regarding loan volumes, dollar
amounts outstanding, and the institutions offering reverse mortgages or
participating in reverse mortgage activity is severely limited. The
U.S. Department of Housing and Urban Development provides a monthly
report for reverse mortgages endorsed for federal insurance, by fiscal
year, for those loans that are part of the federally sponsored HECM
program. While this monthly report provides information such as average
expected interest rates, average property values, average age of the
borrower, and the number of active insured accounts, there is no
aggregate monthly data nor is there institution-specific information
that identifies the institutions participating in the program. For
proprietary reverse mortgage loans, there is no known data on the
volume of reverse mortgages, dollar amounts outstanding, or the
institutions offering these products.
Therefore, OTS is proposing that a new Schedule RM--Annual
Supplemental Consolidated Data on Reverse Mortgages be added to the TFR
to collect reverse mortgage data on an annual basis beginning on
December 31, 2010. The other federal banking agencies are similarly
proposing new items for the Call Report to collect reverse mortgage
data on an annual basis beginning on December 31, 2010. Collecting this
information will provide the agencies the necessary information for
policy development and the management of risk exposures posed by
institutions' involvement with reverse mortgages.
OTS is proposing the following 16 new line items for Schedule RM:
1. RM110, Amount of Home Equity Conversion Mortgage Loans
Outstanding;
2. RM112, Amount of Proprietary (Non-HECM) Reverse Mortgage Loans
Outstanding;
3. RM310, Annual Interest Income from Home Equity Conversion
Mortgage Loans;
4. RM312, Annual Interest Income from Proprietary (Non-HECM)
Reverse Mortgage Loans;
5. RM330, Annual Referral Fee Income from Home Equity Conversion
Mortgage Loans;
6. RM332, Annual Referral Fee Income from Proprietary (Non-HECM)
Reverse Mortgage Loans;
7. RM420, Annual Origination Fee Income from Home Equity Conversion
Mortgage Loans;
8. RM422, Annual Origination Fee Income from Proprietary (Non-HECM)
Reverse Mortgage Loans;
9. RM510, Commitments Outstanding to Originate Mortgages Secured by
Home Equity Conversion Mortgage Loans;
10. RM512, Commitments Outstanding to Originate Mortgages Secured
by Proprietary (Non-HECM) Reverse Mortgage Loans;
11. RM610, Annual Mortgage Loans Disbursed for Permanent Loans on
Home Equity Conversion Mortgage Loans;
12. RM612, Annual Mortgage Loans Disbursed for Permanent Loans on
Proprietary (Non-HECM) Reverse Mortgage Loans;
13. RM620, Annual Loans and Participations Purchased Secured By
Home Equity Conversion Mortgage Loans;
14. RM622, Annual Loans and Participations Purchased Secured By
Proprietary (Non-HECM) Reverse Mortgage Loans;
15. RM630 Annual Loans and Participations Sold Secured By Home
Equity Conversion Mortgage Loans; and
16. RM632, Annual Loans and Participations Sold Secured By
Proprietary (Non-HECM) Reverse Mortgage Loans.
Request for Comments
OTS may not conduct or sponsor an information collection, and
respondents are not required to respond to an information collection,
unless the information collection displays a currently valid OMB
control number.
In this notice, OTS is soliciting comments concerning the following
information collection.
Statutory Requirement: 12 U.S.C. 1464(v) imposes reporting
requirements for savings associations.
Type of Review: Revision of currently approved collections.
Affected Public: Business or for profit.
Estimated Number of Respondents and Recordkeepers: 794.
Estimated Burden Hours per Respondent: 57.4 hours average for
quarterly schedules and 2.0 hours average for schedules required only
annually plus recordkeeping of an average of one hour per quarter.
Estimated Frequency of Response: Quarterly.
Estimated Total Annual Burden: 190,828 hours.
OTS is proposing to revise the TFR, which is currently an approved
collection of information, in March and December 2010. The effect on
reporting burden of the proposed revisions to the TFR requirements will
vary from institution to institution depending on the institution's
asset size and its involvement with the types of activities or
transactions to which the proposed changes apply.
The proposed TFR changes that would take effect as of March 31,
2010, would revise the captions for three existing items, add eight new
items, and change the reporting frequency of data in Schedule SB from
annual to quarterly.
The proposed TFR revisions that would take effect December 31,
2010, would add a new Schedule RM--Annual Supplemental Consolidated
Data on Reverse Mortgages which would add 16 new line items in an
annual collection of data on reverse mortgages.
OTS estimates that the implementation of these reporting revisions
will result in an increase in the current reporting burden imposed by
the TFR on all savings associations.
As part of the approval process, we invite comments addressing one
or more of the following points:
a. Whether the proposed revisions to the TFR collections of
information are necessary for the proper performance of the agency's
functions, including whether the information has practical utility;
b. The accuracy of the agency's estimate of the burden of the
collection of information;
c. Ways to enhance the quality, utility, and clarity of the
information to be collected;
d. Ways to minimize the burden of information collections on
respondents, including through the use of automated collection
techniques, the Internet, or other forms of information technology; and
e. Estimates of capital or start up costs and costs of operation,
maintenance, and purchase of services to provide information.
OTS will summarize the comments received and include them in the
request for OMB approval. All comments will become a matter of public
record.
[[Page 41986]]
Clearance Officer: Ira L. Mills, (202) 906-6531, Office of Thrift
Supervision, 1700 G Street, NW., Washington, DC 20552.
OMB Reviewer: Desk Officer for OTS, FAX: (202) 395-6974, U.S.
Office of Management and Budget, 725--17th Street, NW., Room 10235,
Washington, DC 20503.
Dated: August 14, 2009.
Deborah Dakin,
Acting Chief Counsel, Office of Thrift Supervision.
[FR Doc. E9-19908 Filed 8-18-09; 8:45 am]
BILLING CODE 6720-01-P