[Federal Register Volume 76, Number 84 (Monday, May 2, 2011)]
[Notices]
[Pages 24486-24489]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-10592]
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FEDERAL DEPOSIT INSURANCE CORPORATION
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Agency Information Collection Activities; Submission for OMB
Review; Joint Comment Request
AGENCIES: Federal Deposit Insurance Corporation (FDIC) and Office of
Thrift Supervision (OTS), Treasury.
ACTION: Notice.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act (PRA) of 1995 (44 U.S.C. chapter 35), the FDIC and the OTS (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 February 8, 2011, the agencies requested public comment for 60 days
on their proposal to require savings associations currently filing data
through the Branch Office Survey System (BOS) with the OTS to convert
to filing data through the Summary of Deposits Survey (SOD) with the
FDIC (76 FR 7087). The BOS and the SOD are currently approved
collections of information. One comment letter was received on the
proposal. After considering the comment received on the proposal, the
agencies hereby give notice of their plan to proceed with the reporting
changes proposed and will submit the proposal to OMB for review and
approval.
DATES: Comments must be submitted on or before June 1, 2011.
ADDRESSES: Interested parties are invited to submit written comments to
either or both of the agencies. All
[[Page 24487]]
comments, which should refer to the OMB control number(s), will be
shared between the agencies.
FDIC: You may submit comments, which should refer to ``Summary of
Deposits Survey, 3064-0061,'' by any of the following methods:
Agency Web Site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow the instructions for submitting comments
on the FDIC Web site.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: [email protected]. Include ``Summary of Deposits
Survey, 3064-0061'' in the subject line of the message.
Mail: Gary A. Kuiper, (202) 898-3877, Counsel, Attn:
Comments, Room F-1086, 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: All comments received will be posted without
change to http://www.fdic.gov/regulations/laws/federal/propose.html
including any personal information provided. Comments may be inspected
at the FDIC Public Information Center, Room E-1002, 3501 Fairfax Drive,
Arlington, VA 22226, between 9 a.m. and 5 p.m. on business days.
OTS: You may submit comments, identified by ``1550-0004 (Branch
Office Survey System),'' by any of the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail address: [email protected].
Please include ``1550-0004 (Branch Office Survey System)'' in the
subject line of the message and include your name and telephone number
in the message.
Fax: (202) 906-6518.
Mail: Information Collection Comments, Chief Counsel's
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington,
DC 20552, Attention: ``1550-0004 (Branch Office Survey System).''
Hand Delivery/Courier: Guard's Desk, East Lobby Entrance,
1700 G Street, NW., from 9 a.m. to 4 p.m. on business days, Attention:
Information Collection Comments, Chief Counsel's Office, Attention:
``1550-0004 (Branch Office Survey System).''
Instructions: All submissions received must include the agency name
and OMB Control Number (1550-0004) for this information collection. All
comments received will be posted without change to the OTS Internet
Site at http://www.ots.treas.gov/pagehtml.cfm?catNumber=67&an=1,
including any personal information provided.
Docket: For access to the docket to read background documents or
comments received, go to http://www.ots.treas.gov/pagehtml.cfm?catNumber=67&an=1.
In addition, you may inspect comments at the Public Reading Room,
1700 G Street, NW., by appointment. To make an appointment for access,
call (202) 906-5922, send an e-mail to public.info@ots.treas.gov">public.info@ots.treas.gov, or
send a facsimile transmission to (202) 906-7755. (Prior notice
identifying the materials you will be requesting will assist us in
serving you.) We schedule appointments on business days between 10 a.m.
and 4 p.m. In most cases, appointments will be available the next
business day following the date we receive a request.
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, or by fax to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: For further information about the
revisions discussed in this notice, please contact either of the agency
clearance officers whose names appear below.
In addition, copies of the reporting forms and instructions for the
SOD can be obtained at the FDIC Web site (http://www2.fdic.gov/sod/).
Copies of the reporting forms and instructions for the BOS can be
obtained at the OTS Web site (http://www.ots.treas.gov/?p=BranchOfficeSurvey).
FDIC: Gary A. Kuiper, Counsel, (202) 898-3877, Legal Division,
Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429.
OTS: Ira L. Mills, OTS Clearance Officer, at
[email protected], (202) 906-6531, or facsimile number (202) 906-
6518, Regulations and Legislation Division, Chief Counsel's Office,
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
SUPPLEMENTARY INFORMATION: The agencies are proposing to standardize
the yearly collection of branch information among all FDIC-insured
entities. To accomplish this goal, the agencies are proposing to cease
collection of branching and deposit data from OTS-regulated savings
associations through the BOS and require this data be filed through the
SOD. The SOD is currently the data collection facility used by all
other FDIC-insured entities. The SOD and the BOS are currently approved
collections of information for each agency.
1. Report Title: Summary of Deposits Survey (SOD).
Form Number: 8020/05.
Frequency of Response: Annually.
Affected Public: Business or other for-profit.
FDIC
OMB Number: 3064-0061.
Current:
Estimated Number of Respondents: 6,000 insured commercial banks
and state-chartered savings banks.
Estimated Time per Response: 3 burden hours.
Estimated Total Annual Burden: 18,000 burden hours.
Proposed:
Estimated Number of Respondents: 6,535 insured commercial banks,
state-chartered savings banks, and savings associations.
Estimated Time per Response: 3 burden hours.
Estimated Total Annual Burden: 19,605 burden hours.
The current annual burden for the SOD is estimated to be 18,000
hours. Approximately 6,000 institutions spend an average of three hours
to prepare the SOD. It is estimated that some institutions with only
two or three branches will take 15 minutes to complete the survey while
larger banks usually have the branch information in their system for
easy retrieval to complete the SOD form.
As discussed in more detail later in this notice, there are
differences in the panel of institutions required to report data
through the SOD and those required to report data through the BOS. In
summary, single-office institutions are not required to file the SOD,
but are required to file the BOS. OTS estimates there are approximately
180 single-office savings associations that are currently required to
file data through the BOS but would not be required to file data
through the SOD.
Another difference in the panel of institutions required to file
through the BOS compared to through the SOD are trust-only
institutions. All trust-only savings associations are exempt from
filing data through the BOS. However, trust-only institutions with more
than one office location would be required to file data through the
SOD. There is one trust-only savings association with more than one
office location and, hence, this
[[Page 24488]]
institution would be required to file through the SOD. Given these
changes in the panel of required filers, the proposed burden estimates
above for filing through the SOD reflect a net reduction of 180 savings
associations from the total 715 OTS-regulated savings associations
required to file through the BOS.
2. Report Title: Branch Office Survey System (BOS).
Form Number: OTS 248 (for savings associations).
Frequency of Response: Annually.
Affected Public: Business or other for-profit.
OTS
OMB Number: 1550-0004.
Current:
Estimated Number of Respondents: 715 savings associations.
Estimated Time per Response: 3 burden hours.
Estimated Total Annual Burden: 2,145 burden hours.
Proposed:
Estimated Number of Respondents: Not applicable.
Estimated Time per Response: Not applicable.
Estimated Total Annual Burden: Not applicable.
The burden estimates above for filing through the BOS reflect a
reduction for the 16 trust-only savings associations that would not be
required to file through the BOS from the total population of 731 OTS-
regulated savings associations.
General Description of Reports
These information collections are mandatory. The FDIC is authorized
to collect these data under section 9 (Eighth) of the Federal Deposit
Insurance Act (12 U.S.C. 1819), which gives the FDIC the power to
require information and reports from banks to carry out its statutory
responsibilities regarding bank supervision. The survey has been
conducted on a yearly basis since 1972.
OTS is authorized to collect this data under Sections 3(b)(2) and
4(a)(2) of the Home Owners' Loan Act (12 U.S.C. 1462a(b)(2) and
1463(a)(2)).
All data collected through the BOS and the SOD submissions are
available to the public.
Abstract
Institutions submit SOD and BOS data to the agencies annually for
the agencies' use in monitoring branching activity, reviewing changes
in levels of deposits at branches, and in evaluating changes in market
share of deposits by location. SOD and BOS submissions also provide
branch deposit data necessary for evaluating institutions' corporate
applications, for identifying areas of focus for on-site and off-site
examinations, and for monetary and other public policy purposes. In
addition, SOD data are used to measure the host state loan-to-deposit
ratios used to determine compliance with section 109 of the Riegle-Neal
Interstate Banking and Branching Efficiency Act of 1994, which
generally prohibits a bank from establishing or acquiring a branch or
branches outside its home state primarily for the purpose of deposit
production.
Effect of Recent Legislation
The Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010, Public Law 111-203 (the Dodd-Frank Act) was enacted into law on
July 21, 2010. Title III of the Dodd-Frank Act abolishes the OTS,
provides for its integration with the Office of the Comptroller of the
Currency (OCC) effective as of July 21, 2011 (the ``transfer date''),
and transfers its functions to the OCC, the Board of Governors of the
Federal Reserve System (Board), and the FDIC.
Under Title III of the Dodd-Frank Act, all functions of the OTS
relating to federal savings associations and rulemaking authority for
all savings associations are transferred to the OCC. All functions of
the OTS relating to state-chartered savings associations (other than
rulemaking) are transferred to the FDIC. All functions of the OTS
relating to supervision of savings and loan holding companies
(including rulemaking) are transferred to the Board.
After careful review, the agencies believe having common financial
reports and reporting processes among all FDIC-insured institutions is
more efficient and will lead to more uniform comparisons of financial
condition, performance, and trends. For these reasons, the OTS is
proposing to eliminate the BOS data collection process used by OTS-
regulated savings associations and require these entities to file this
information using the SOD processes and systems. This proposal would
standardize the reporting routines and processes required of all FDIC-
insured entities for branch office data through the SOD.
Current Actions
On February 8, 2011, the agencies requested public comment (76 FR
7087) on their proposal to implement changes to savings associations'
branch office reporting requirements effective June 30, 2011. These
changes are intended to provide a consistent data collection needed for
reasons of safety and soundness or other public purposes. The proposed
changes would require OTS-regulated savings associations to cease
filing through the BOS and commence filing through the SOD, thus
standardizing the yearly collection of branch office information,
including deposit data, between OTS-regulated savings associations and
all other FDIC-insured entities.
The agencies collectively received one comment from a bankers'
association. The bankers' association did not object to the proposed
change taking effect in 2011, but indicated that the ``FDIC and OTS
should be flexible with institutions who have limited resources and/or
complex reports.'' In particular, the commenter mentioned that thrifts
had a longer filing period to file the BOS data than the FDIC gives SOD
filers. In response to this concern, the FDIC will grant, for the 2011
SOD cycle only, an additional fifteen days for thrifts to submit their
SOD data to the FDIC. All thrifts will be expected to file the 2011 SOD
no later than August 15, 2011. In future years, a July 31 deadline will
apply to all filers. In summary, after considering the comment received
on the proposal, the agencies plan to proceed with the reporting
changes proposed, with the provision for an additional fifteen days for
thrifts to file the SOD in 2011 only, and will submit the proposal to
OMB for review and approval. Thus, savings associations would commence
filing the SOD as of the June 30, 2011, report date.
Request for Comment
Public comment is requested on all aspects of this joint notice.
Comments are invited on:
(a) Whether the proposed revisions to the collections of
information that are the subject of this notice are necessary for the
proper performance of the agencies' functions, including whether the
information has practical utility;
(b) The accuracy of the agencies' estimates of the burden of the
information collections as they are proposed to be revised, including
the validity of the methodology and assumptions used;
(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 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.
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Comments submitted in response to this joint notice will be shared
between the agencies. All comments will become a matter of public
record.
Dated at Washington, DC, this 26th day of April 2011.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
Dated: April 26, 2011.
Vicki Hawkins-Jones,
Acting Deputy Chief Counsel, Office of Chief Counsel, Office of Thrift
Supervision.
[FR Doc. 2011-10592 Filed 4-29-11; 8:45 am]
BILLING CODE 6714-01-P; 6720-01-P