[Federal Register Volume 67, Number 18 (Monday, January 28, 2002)]
[Notices]
[Pages 3933-3934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-1988]
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DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Discontinuance
AGENCIES: Office of Thrift Supervision (OTS), Treasury; and Board of
Governors of the Federal Reserve System (Board).
ACTION: Discontinuance of information collections.
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SUMMARY: Notice is hereby given of the discontinuance by the Board and
the OTS (collectively, the ``agencies'') of the following information
collections, the Annual Report of Trust Assets (FFIEC 001) and the
Annual Report of International Fiduciary Activities (FFIEC 006),
effective with the December 31, 2001 report. In accordance with the
requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter
35), the Board and the OTS (collectively, 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 OMB
control number.
On October 12, 2001, the agencies, under the auspices of the
Federal Financial Institutions Examination Council (FFIEC), published a
notice in the Federal Register (66 FR 52186) requesting public comment
on the discontinuance of the (FFIEC 001 and FFIEC 006) reports. The
comment period for this notice expired on December 11, 2001. No
comments were received. The agencies are now submitting requests to OMB
for approval of the discontinuance of the (FFIEC 001 and FFIEC 006)
reports.
DATES: Comments must be submitted on or before February 27, 2002.
ADDRESSES: Interested parties are invited to submit written comments to
either or both of the agencies. All comments should refer to the OMB
control number(s) and will be shared between the agencies.
OTS: Submit any written comments concerning this notice to
Information Collection Comments, Chief Counsel's Office, Office of
Thrift Supervision, 1700 G Street, N.W., Washington, D.C. 20552,
Attention: 1550-0026, FAX Number (202) 906-6518, or e-mail to
[email protected]. OTS will post any comments and
the related index on the OTS Internet Site at www.ots.treas.gov. In
addition, interested persons may inspect comments at the Public
Reference 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.
Board: Comments may be mailed to Ms. Jennifer J. Johnson,
Secretary, Board of Governors of the Federal Reserve System, 20th
Street and Constitution Avenue, NW., Washington, DC 20551. However,
because paper mail in the Washington area and at the Board of Governors
is subject to delay, please consider submitting your comments by e-mail
to [email protected], or faxing them to the Office of
the Secretary at 202-452-3819 or 202-452-3102. Comments addressed to
Ms. Johnson may also be delivered to the Board's mail facility in the
West Courtyard between 8:45 a.m. and 5:15 p.m., located on 21st Street
between Constitution Avenue and C Street, N.W. Members of the public
may inspect comments in Room MP-500 between 9:00 a.m. and 5:00 p.m. on
weekdays pursuant to Sec. 261.12, except as provided in Sec. 261.14, of
the Board's Rules Regarding Availability of Information, 12 CFR 261.12
and 261.14.
A copy of the comments may also be submitted to the OMB desk
officer for the agencies: Alexander T. Hunt, Office of Information and
Regulatory Affairs, Office of Management and Budget, New Executive
Office Building, Room 3208, Washington, DC 20503 or by e-mail to
[email protected].
FOR FURTHER INFORMATION CONTACT: Additional information or a copy of
the collections may be requested from:
OTS: Sally W. Watts, OTS Clearance Officer, (202) 906-7380, Office
of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552; e-mail
address [email protected].
Board: Mary M. West, Federal Reserve Board 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. Users of Telecommunications Device for the Deaf (TDD) may
contact (202) 263-4869.
SUPPLEMENTARY INFORMATION:
[[Page 3934]]
Discontinuation of the following reports:
Report Titles: Annual Report of Trust Assets and Annual Report of
International Fiduciary Activities.
Form Numbers: FFIEC 001 and FFIEC 006.
Frequency of Response: Annual.
Affected Public: Business or other for profit.
For OTS:
OMB Number: 1550-0026.
Number of Respondents: 101 (FFIEC 001).
Estimated Average Time per Response: 4.08 burden hours (FFIEC 001).
Estimated Total Annual Burden: 412 burden hours.
For Board:
OMB Number: 7100-0031.
Number of Respondents: 22 (FFIEC 001), 0 (FFIEC 006).
Estimated Average Time per Response: 3.82 burden hours (FFIEC 001).
4.0 burden hours (FFIEC 006).
Estimated Total Annual Burden: 84 burden hours.
General Description of Reports: This information collection (FFIEC
001 and FFIEC 006) is mandatory: 12 U.S.C. 1464 (for thrift
institutions), and 12 U.S.C. 248(a)(1) and (2) and 1844(c) (for state
member banks and bank holding companies). The data on the FFIEC 001 are
publicly available with the exception of Schedule E--Fiduciary Income
Statement. The FFIEC 006, collected by the Board, is given confidential
treatment [5 U.S.C. 552(b)(8)]. Small businesses (i.e., small banks)
are affected.
Abstract: These interagency reports collect information on
fiduciary asset totals and activities. They are used to monitor changes
in the volume and character of discretionary trust activity and the
volume of nondiscretionary trust activity and to determine resource
needs for supervisory purposes.
Current Actions: Financial institutions that exercise fiduciary
powers and have fiduciary assets or accounts have reported information
on their trust activities each December 31 in the Annual Report of
Trust Assets (FFIEC 001). Institutions with trust operations in foreign
offices also complete the Annual Report of International Fiduciary
Activities (FFIEC 006). The agencies will discontinue the FFIEC 001 and
the FFIEC 006 trust activities reports.
This discontinuance is prompted by the introduction of Schedule RC-
T, ``Fiduciary and Related Services,'' on the quarterly bank
Consolidated Reports of Condition and Income (Call Report) (FFIEC 031
and 041, OMB No. 7100-0036),\1\ and Schedule T, ``Fiduciary and Related
Services'' on the quarterly Report of Assets and Liabilities of U.S.
Branches and Agencies of Foreign Banks (FFIEC 002, OMB No. 7100-
0032).\2\ Schedules RC-T and T take effect as of December 31, 2001. The
OTS is adding Schedule FS--Fiduciary and Related Services to the Thrift
Financial Report (OMB No. 1550-0023) effective March 31, 2002.
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\1\ Federal Register, March 5, 2001 (66 FR 13369).
\2\ Federal Register, May 4, 2001 (66 FR 22556).
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The new trust schedule replaces the Annual Report of Trust Assets
(FFIEC 001) in December 2001 for institutions that file Call Reports
and the FFIEC 002 and in March 2002 for institutions that file Thrift
Financial Reports. For national and state member banks, two items in
the new schedule will replace the Annual Report of International
Fiduciary Activities (FFIEC 006). However, federally supervised state-
chartered nondeposit trust companies that are subsidiaries of holding
companies do not file Call Reports or Thrift Financial Reports, but
were previously required to complete the FFIEC 001. The agencies have
determined that the information of supervisory interest on trust
activities that these trust companies have reported on the FFIEC 001
can be monitored by other means.
Request for Comment
Comments are invited on:
a. Whether the information collections 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, 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.
Comments submitted in response to this notice will be shared
between the agencies and will be summarized or included in the
agencies' requests for OMB approval. All comments will become a matter
of public record. Written comments should address the accuracy of the
burden estimates and ways to minimize burden including the use of
automated collection techniques or the use of other forms of
information technology as well as other relevant aspects of the
information collection request.
Dated: January 18, 2002.
Deborah Dakin,
Deputy Chief Counsel, Regulations & Legislation Division, Office of
Thrift Supervision.
Board of Governors of the Federal Reserve System, January 23,
2002.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 02-1988 Filed 1-25-02; 8:45 am]
BILLING CODE 6720-01-P and 6210-01-P