Proposed Agency Information Collection Activities; Comment Request-Reporting for Changes to Federal Deposit Insurance Levels on the Thrift Financial Report: Schedule DI, 25282-25284 [E6-6452]
Download as PDF
<![CDATA[
25282
Federal Register / Vol. 71, No. 82 / Friday, April 28, 2006 / Notices
been exercised for at least five years,
must obtain prior approval from OTS
before it may conduct the activities. 12
CFR 550.80 through 120 describe the
process for obtaining OTS approval of
the application for fiduciary powers.
Instructions for filing the application are
found at 12 CFR 516, subpart A.
In addition, § 550.70(c) of OTS’s
regulations requires that a federal
savings association that wants to
commence in a new state fiduciary
activities that are not materially
different from those that OTS has
already approved, must file a notice
with OTS. Instructions for filing the
notice are found at 12 CFR 550.125.
Type of Review: Revision.
Affected Public: Federal savings
associations.
Estimated Number of Respondents:
Application—12 respondents; Notice—
10 respondents.
Estimated Number of Responses:
Application—12 respondents; Notice—
10 respondents.
Estimated Burden Hours per
Response: Application—27 hours;
Notice—3 hours.
Estimated Frequency of Response:
Event-generated.
Estimated Total Burden: 354 hours.
Clearance Officer: Marilyn K. Burton,
(202) 906–6467, Office of Thrift
Supervision, 1700 G Street, NW.,
Washington, DC 20552.
Dated: April 24, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and
Legislation Division.
[FR Doc. E6–6451 Filed 4–27–06; 8:45 am]
BILLING CODE 6720–01–P
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Proposed Agency Information
Collection Activities; Comment
Request—Reporting for Changes to
Federal Deposit Insurance Levels on
the Thrift Financial Report: Schedule
DI
Office of Thrift Supervision
(OTS), Treasury.
ACTION: Notice and request for comment.
jlentini on PROD1PC65 with NOTICES
AGENCY:
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
VerDate Aug<31>2005
17:14 Apr 27, 2006
Jkt 208001
the Treasury solicits comments on
proposed changes to the Thrift Financial
Report (TFR): Schedule DI—
Consolidated Deposit Information. The
changes are in response to the increased
levels of deposit insurance for
retirement accounts provided by the
Federal Deposit Insurance Corporation
(‘‘FDIC’’) Board of Directors on March
14, 2006, in final rules effective April 1,
2006, implementing certain provisions
of the Federal Deposit Insurance Reform
Act of 2005, (‘‘Reform Act’’) (Pub. L.
109–171).
The proposed changes to the TFR are
to become effective with the September
30, 2006, report.
At the end of the comment period, the
comments and recommendations
received will be analyzed to determine
the extent to which OTS 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.
Submit written comments on or
before June 27, 2006.
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 (202) 906–6518; send emails to
infocollection.comments@ots.treas.gov;
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—September 2006, OMB No.
1550–0023.’’ OTS will post comments
and the related index on the OTS
Internet Site at https://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
public.info@ots.treas.gov, or send a
facsimile transmission to (202) 906–
7755.
DATES:
You
can access sample copies of the
proposed September 2006 TFR form on
OTS’s Web site at https://
www.ots.treas.gov or you may request
them by electronic mail from
tfr.instructions@ots.treas.gov. 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.
FOR FURTHER INFORMATION CONTACT:
PO 00000
Frm 00150
Fmt 4703
Sfmt 4703
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.
Title: Thrift Financial Report.
OMB Number: 1550–0023.
Form Number: OTS 1313.
Abstract: 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
institutions and the savings association
industry as a whole. Except for selected
items, these information collections are
not given confidential treatment.
Current Action: On March 14, 2006,
the FDIC Board of Directors approved
final rules pursuant to the Reform Act
that will raise the deposit insurance
coverage on certain retirement accounts
at a bank or savings institution to
$250,000 from $100,000. The increase,
which became effective on April 1,
2006, is the result of a new law boosting
federal deposit insurance coverage for
the first time in more than 25 years. The
basic insurance coverage for other
deposit accounts, however, will remain
at $100,000.
Under the FDIC’s new rules, up to
$250,000 in deposit insurance will be
provided to a depositor with money in
a variety of retirement accounts,
primarily traditional and Roth IRAs
(Individual Retirement Accounts), at
one insured institution. Other types of
accounts included under the new
deposit insurance limit are self-directed
Keogh accounts, ‘‘457 Plan’’ accounts
for state government employees, and
employer-sponsored ‘‘defined
contribution plan’’ accounts that are
self-directed, which are primarily 401(k)
accounts. In general, self-directed means
the consumer chooses how and where
the money is deposited.
In addition, the IRAs and other
retirement accounts that will be
protected under the new rules to
$250,000 are insured separately from
other accounts at the same institution
that will continue to be insured up to at
least $100,000. Additional information
about deposit insurance is available at
the FDIC’s Web site, https://
www.fdic.gov.
The new law also established a
method by which the FDIC would
consider an increase in the insurance
SUPPLEMENTARY INFORMATION:
E:\FR\FM\28APN1.SGM
28APN1
jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 71, No. 82 / Friday, April 28, 2006 / Notices
limits on all deposit accounts (including
retirement accounts) in the future, but
only every five years starting in 2011.
Any such increase would be based, in
part, on inflation. Otherwise, accounts
will continue to be insured as described
above.
The new law also merged the Bank
Insurance Fund and the Savings
Association Insurance Fund into a new
Deposit Insurance Fund.
As a result of these changes in deposit
insurance for retirement accounts held
at FDIC-insured depository institutions,
OTS considered a range of potential
information needs and identified those
additions to the TFR that are believed to
be most critical and relevant to OTS as
it seeks to fulfill its supervisory
responsibilities. At the same time, OTS
identified certain existing TFR data that
are no longer relevant or useful to
warrant their continued collection. OTS
believes that the reporting burden that
would result from the addition to the
TFR of the new items discussed in this
proposal would be fully offset by the
proposed elimination of a limited
number of other TFR items, thereby
resulting in no net increase in reporting
burden. Nevertheless, when viewing
these proposed revisions to the TFR
within a larger context, they are
intended to maintain the effectiveness
of the on- and off-site supervision
activities of the OTS, which should help
to control the overall regulatory burden
on institutions.
OTS is requesting comment on the
following proposed revisions to the TFR
Schedule DI—Consolidated Deposit
Information, which would take effect as
of September 30, 2006. This proposal
would eliminate four line items from
the TFR, revise four existing items, and
add four new data items to the TFR. For
each of the proposed revisions of
existing items or proposed 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,
comments are requested on what criteria
(e.g., an asset size threshold or some
other measure) should be established for
identifying the specific segment of the
savings association industry that should
be required to report the proposed new
information. Finally, OTS seeks
comment on whether, for a particular
proposed revision, there is an
alternative set of information that could
VerDate Aug<31>2005
17:14 Apr 27, 2006
Jkt 208001
25283
satisfy OTS data needs in that area 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
September 2006.
The following three line items
proposed for elimination were reported
for the first quarter in which an
institution acquired ‘‘Oakar’’ deposits,
or deposits attributable to a secondary
Federal deposit insurance fund, and in
any quarter that an institution
purchased or sold deposits.
A. Burden-Reducing Revisions
1. Eliminating DI200, IRA/Keogh
Accounts;
2. Eliminating DI740, Total Deposits
Purchased or Acquired from FDICInsured Institutions During Quarter;
3. Eliminating DI750, Amount of
Purchased or Acquired Deposits
Reported In DI740 Attributable to a
Secondary Fund; and
4. Eliminating DI760, Total Deposits
Sold or Transferred During Quarter.
2. Total Deposits Purchased or Acquired
from FDIC-Insured Institutions During
Quarter
B. Revisions of Existing Items
1. Revising the instructions to DI120,
Deposits with Balances of $100,000 or
Less, to exclude retirement deposits
covered under the new insurance limit;
2. Revising the instructions to DI130,
Deposits with Balances Greater Than
$100,000, to exclude retirement deposits
covered under the new insurance limit;
3. Revising the instructions to DI150,
Number of Deposit Accounts with
Balances of $100,000 or Less, to exclude
retirement accounts covered under the
new insurance limit; and
4. Revising the instructions to DI160,
Number of Deposit Accounts with
Balances Greater Than $100,000, to
exclude retirement accounts covered
under the new insurance limit.
C. New items
1. Adding a line, DI170, Retirement
Deposits with Balances of $250,000 or
Less;
2. Adding a line, DI175, Retirement
Deposits with Balances Greater Than
$250,000;
3. Adding a line, DI180, Number of
Retirement Deposit Accounts with
Balances of $250,000 or Less; and
4. Adding a line, DI185, Number of
Retirement Deposit Accounts with
Balances Greater Than $250,000.
The specific wording of the captions
for the new and revised TFR items
discussed in this proposal and the
numbering of these items in the report
should be regarded as preliminary.
Discussion of Proposed Revisions
A. Burden-Reducing Revisions
1. IRA/Keogh Accounts Included in
Deposits and Escrows
OTS proposes to eliminate TFR line
DI200, IRA/Keogh Accounts. The new
lines proposed below will include the
data now collected in line DI200.
PO 00000
Frm 00151
Fmt 4703
Sfmt 4703
OTS proposes to eliminate TFR line
DI740, Total Deposits Purchased or
Acquired from FDIC-Insured
Institutions During Quarter. Passage of
the Reform Act renders this data
collection obsolete. In the March 2006
‘‘Financial Reporting Bulletin’’, OTS
informed all thrifts to cease reporting
these data effective with the March 31,
2006, TFR.
3. Amount of Purchased or Acquired
Deposits Reported In DI740 Attributable
to a Secondary Fund
OTS proposes to eliminate TFR line
DI750, Amount of Purchased or
Acquired Deposits Reported In DI740
Attributable to a Secondary Fund.
Passage of the Reform Act renders this
data collection obsolete. In the March
2006 ‘‘Financial Reporting Bulletin’’,
OTS informed all thrifts to cease
reporting these data effective with the
March 31, 2006, TFR.
4. Total Deposits Sold or Transferred
During Quarter
OTS proposes to eliminate TFR line
DI760, Total Deposits Sold or
Transferred During Quarter. Passage of
the Reform Act renders this data
collection obsolete. In the March 2006
‘‘Financial Reporting Bulletin’’, OTS
informed all thrifts to cease reporting
these data effective with the March 31,
2006, TFR.
B. Revisions of Existing Items
The instructions for the following four
TFR lines would be revised under this
proposal.
1. Deposits with Balances of $100,000 or
Less
OTS proposes to revise the reporting
instructions for line DI120, Deposits
with Balances of $100,000 or Less. The
instructions would be revised to
exclude reporting of retirement accounts
eligible under the higher deposit
insurance limit.
2. Deposits with Balances Greater Than
$100,000
OTS proposes to revise the reporting
instructions for line DI130, Deposits
with Balances Greater Than $100,000.
E:\FR\FM\28APN1.SGM
28APN1
25284
Federal Register / Vol. 71, No. 82 / Friday, April 28, 2006 / Notices
The instructions would be revised to
exclude reporting of retirement accounts
eligible under the higher deposit
insurance limit.
3. Number of Deposit Accounts with
Balances of $100,000 or Less
OTS proposes to revise the reporting
instructions for line DI150, Number of
Deposit Accounts with Balances of
$100,000 or Less. The instructions
would be revised to exclude reporting of
retirement accounts eligible under the
higher deposit insurance limit.
4. DI160, Number of Deposit Accounts
with Balances Greater Than $100,000
OTS proposes to revise the reporting
instructions for line DI160, Number of
Deposit Accounts with Balances Greater
Than $100,000. The instructions would
be revised to exclude reporting of
retirement accounts eligible under the
higher deposit insurance limit.
C. New Items
OTS proposes to add the following
new line items.
1. Retirement Deposits with Balances of
$250,000 or Less
OTS proposes to add line DI170,
Retirement Deposits with Balances of
$250,000 or Less. Deposits in retirement
accounts covered under the higher
deposit insurance limit would be
reported in this line.
2. Retirement Deposits with Balances
Greater Than $250,000
OTS proposes to add line DI175,
Retirement Deposits with Balances
Greater Than $250,000. Deposits in
retirement accounts covered under the
higher deposit insurance limit would be
reported in this line.
3. Number of Retirement Deposit
Accounts with Balances of $250,000 or
Less
OTS proposes to add line DI180,
Number of Retirement Deposit Accounts
with Balances of $250,000 or Less.
Deposits in retirement accounts covered
under the higher deposit insurance limit
would be reported in this line.
jlentini on PROD1PC65 with NOTICES
4. Number of Retirement Deposit
Accounts with Balances Greater Than
$250,000
OTS proposes to add line DI185,
Number of Retirement Deposit Accounts
with Balances Greater Than $250,000.
Deposits in retirement accounts covered
under the higher deposit insurance limit
would be reported in this line.
VerDate Aug<31>2005
17:14 Apr 27, 2006
Jkt 208001
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: 858.
Estimated Burden Hours per
Respondent: 36.4 hours average for
quarterly schedules and 1.9 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:
129,987 hours.
OTS is proposing to revise the TFR,
which is currently an approved
collection of information. The effect of
the proposed revisions to the TFR
requirements on reporting burden will
vary from institution to institution
depending, in some cases, on the
institution’s asset size and, in other
cases, on its involvement with the types
of activities or transactions to which the
proposed changes apply. OTS estimates
that the implementation of these
reporting revisions will not result in an
increase in the current reporting burden
imposed by the TFR on all savings
associations.
Request for Comments: 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.
PO 00000
Frm 00152
Fmt 4703
Sfmt 4703
Clearance Officer: Marilyn K. Burton,
(202) 906–6467, Office of Thrift
Supervision, 1700 G Street, NW.,
Washington, DC 20552.
OMB Reviewer: OTS Desk Officer,
Fax: (202) 395–6974, Office of
Management and Budget, Room 10235,
New Executive Office Building,
Washington, DC 20503.
Dated: April 25, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and
Legislation Division.
[FR Doc. E6–6452 Filed 4–27–06; 8:45 am]
BILLING CODE 6720–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Special Medical Advisory Group;
Notice of Meeting
The Department of Veterans Affairs
(VA) gives notice under Public Law 92–
463 (Federal Advisory Committee Act)
that the Special Medical Advisory
Group will meet on Friday, May 12,
2006. The meeting will be in Room 830
at VA Central Office, 810 Vermont
Avenue, NW., Washington, DC. The
meeting is open to the public.
The purpose of the Group is to advise
the Secretary of Veterans Affairs and the
Under Secretary for Health on the care
and treatment of disabled veterans, and
other matters pertinent to the
Department’s Veterans Health
Administration (VHA).
The agenda for the meeting will
include an introduction to today’s VA,
strategies for VHA in a turbulent health
care environment, information
technology, the academic mission of VA
in the next decade, ethics, and the
optimal role of VA research.
Any member of the public wishing to
attend should contact Juanita Leslie,
Office of Administrative Operations
(10B2), Veterans Health Administration,
Department of Veterans Affairs at (202)
273–5882. No time will be set aside at
this meeting for receiving oral
presentations from the public.
Statements, in written form, may be
submitted to Juanita Leslie before the
meeting or within 10 days after the
meeting.
Dated: April 24, 2006.
By Direction of the Secretary.
E. Philip Riggin,
Committee Management Officer.
[FR Doc. 06–4014 Filed 4–27–06; 8:45 am]
BILLING CODE 8320–01–M
E:\FR\FM\28APN1.SGM
28APN1
]]>Agencies
[Federal Register Volume 71, Number 82 (Friday, April 28, 2006)]
[Notices]
[Pages 25282-25284]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-6452]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Proposed Agency Information Collection Activities; Comment
Request--Reporting for Changes to Federal Deposit Insurance Levels on
the Thrift Financial Report: Schedule DI
AGENCY: Office of Thrift Supervision (OTS), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
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 DI--Consolidated Deposit
Information. The changes are in response to the increased levels of
deposit insurance for retirement accounts provided by the Federal
Deposit Insurance Corporation (``FDIC'') Board of Directors on March
14, 2006, in final rules effective April 1, 2006, implementing certain
provisions of the Federal Deposit Insurance Reform Act of 2005,
(``Reform Act'') (Pub. L. 109-171).
The proposed changes to the TFR are to become effective with the
September 30, 2006, report.
At the end of the comment period, the comments and recommendations
received will be analyzed to determine the extent to which OTS 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 June 27, 2006.
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 (202) 906-6518;
send e-mails to infocollection.comments@ots.treas.gov; 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--September 2006, OMB No. 1550-0023.'' OTS will post
comments and the related index on the OTS Internet Site at https://
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
public.info@ots.treas.gov, or send a facsimile transmission to (202)
906-7755.
FOR FURTHER INFORMATION CONTACT: You can access sample copies of the
proposed September 2006 TFR form on OTS's Web site at https://
www.ots.treas.gov or you may request them by electronic mail from
tfr.instructions@ots.treas.gov. 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: 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.
Title: Thrift Financial Report.
OMB Number: 1550-0023.
Form Number: OTS 1313.
Abstract: 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 institutions and the savings association industry
as a whole. Except for selected items, these information collections
are not given confidential treatment.
Current Action: On March 14, 2006, the FDIC Board of Directors
approved final rules pursuant to the Reform Act that will raise the
deposit insurance coverage on certain retirement accounts at a bank or
savings institution to $250,000 from $100,000. The increase, which
became effective on April 1, 2006, is the result of a new law boosting
federal deposit insurance coverage for the first time in more than 25
years. The basic insurance coverage for other deposit accounts,
however, will remain at $100,000.
Under the FDIC's new rules, up to $250,000 in deposit insurance
will be provided to a depositor with money in a variety of retirement
accounts, primarily traditional and Roth IRAs (Individual Retirement
Accounts), at one insured institution. Other types of accounts included
under the new deposit insurance limit are self-directed Keogh accounts,
``457 Plan'' accounts for state government employees, and employer-
sponsored ``defined contribution plan'' accounts that are self-
directed, which are primarily 401(k) accounts. In general, self-
directed means the consumer chooses how and where the money is
deposited.
In addition, the IRAs and other retirement accounts that will be
protected under the new rules to $250,000 are insured separately from
other accounts at the same institution that will continue to be insured
up to at least $100,000. Additional information about deposit insurance
is available at the FDIC's Web site, https://www.fdic.gov.
The new law also established a method by which the FDIC would
consider an increase in the insurance
[[Page 25283]]
limits on all deposit accounts (including retirement accounts) in the
future, but only every five years starting in 2011. Any such increase
would be based, in part, on inflation. Otherwise, accounts will
continue to be insured as described above.
The new law also merged the Bank Insurance Fund and the Savings
Association Insurance Fund into a new Deposit Insurance Fund.
As a result of these changes in deposit insurance for retirement
accounts held at FDIC-insured depository institutions, OTS considered a
range of potential information needs and identified those additions to
the TFR that are believed to be most critical and relevant to OTS as it
seeks to fulfill its supervisory responsibilities. At the same time,
OTS identified certain existing TFR data that are no longer relevant or
useful to warrant their continued collection. OTS believes that the
reporting burden that would result from the addition to the TFR of the
new items discussed in this proposal would be fully offset by the
proposed elimination of a limited number of other TFR items, thereby
resulting in no net increase in reporting burden. Nevertheless, when
viewing these proposed revisions to the TFR within a larger context,
they are intended to maintain the effectiveness of the on- and off-site
supervision activities of the OTS, which should help to control the
overall regulatory burden on institutions.
OTS is requesting comment on the following proposed revisions to
the TFR Schedule DI--Consolidated Deposit Information, which would take
effect as of September 30, 2006. This proposal would eliminate four
line items from the TFR, revise four existing items, and add four new
data items to the TFR. For each of the proposed revisions of existing
items or proposed 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, comments are requested on what criteria (e.g.,
an asset size threshold or some other measure) should be established
for identifying the specific segment of the savings association
industry that should be required to report the proposed new
information. Finally, OTS seeks comment on whether, for a particular
proposed revision, there is an alternative set of information that
could satisfy OTS data needs in that area 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
September 2006.
A. Burden-Reducing Revisions
1. Eliminating DI200, IRA/Keogh Accounts;
2. Eliminating DI740, Total Deposits Purchased or Acquired from
FDIC-Insured Institutions During Quarter;
3. Eliminating DI750, Amount of Purchased or Acquired Deposits
Reported In DI740 Attributable to a Secondary Fund; and
4. Eliminating DI760, Total Deposits Sold or Transferred During
Quarter.
B. Revisions of Existing Items
1. Revising the instructions to DI120, Deposits with Balances of
$100,000 or Less, to exclude retirement deposits covered under the new
insurance limit;
2. Revising the instructions to DI130, Deposits with Balances
Greater Than $100,000, to exclude retirement deposits covered under the
new insurance limit;
3. Revising the instructions to DI150, Number of Deposit Accounts
with Balances of $100,000 or Less, to exclude retirement accounts
covered under the new insurance limit; and
4. Revising the instructions to DI160, Number of Deposit Accounts
with Balances Greater Than $100,000, to exclude retirement accounts
covered under the new insurance limit.
C. New items
1. Adding a line, DI170, Retirement Deposits with Balances of
$250,000 or Less;
2. Adding a line, DI175, Retirement Deposits with Balances Greater
Than $250,000;
3. Adding a line, DI180, Number of Retirement Deposit Accounts with
Balances of $250,000 or Less; and
4. Adding a line, DI185, Number of Retirement Deposit Accounts with
Balances Greater Than $250,000.
The specific wording of the captions for the new and revised TFR
items discussed in this proposal and the numbering of these items in
the report should be regarded as preliminary.
Discussion of Proposed Revisions
A. Burden-Reducing Revisions
1. IRA/Keogh Accounts Included in Deposits and Escrows
OTS proposes to eliminate TFR line DI200, IRA/Keogh Accounts. The
new lines proposed below will include the data now collected in line
DI200.
The following three line items proposed for elimination were
reported for the first quarter in which an institution acquired
``Oakar'' deposits, or deposits attributable to a secondary Federal
deposit insurance fund, and in any quarter that an institution
purchased or sold deposits.
2. Total Deposits Purchased or Acquired from FDIC-Insured Institutions
During Quarter
OTS proposes to eliminate TFR line DI740, Total Deposits Purchased
or Acquired from FDIC-Insured Institutions During Quarter. Passage of
the Reform Act renders this data collection obsolete. In the March 2006
``Financial Reporting Bulletin'', OTS informed all thrifts to cease
reporting these data effective with the March 31, 2006, TFR.
3. Amount of Purchased or Acquired Deposits Reported In DI740
Attributable to a Secondary Fund
OTS proposes to eliminate TFR line DI750, Amount of Purchased or
Acquired Deposits Reported In DI740 Attributable to a Secondary Fund.
Passage of the Reform Act renders this data collection obsolete. In the
March 2006 ``Financial Reporting Bulletin'', OTS informed all thrifts
to cease reporting these data effective with the March 31, 2006, TFR.
4. Total Deposits Sold or Transferred During Quarter
OTS proposes to eliminate TFR line DI760, Total Deposits Sold or
Transferred During Quarter. Passage of the Reform Act renders this data
collection obsolete. In the March 2006 ``Financial Reporting
Bulletin'', OTS informed all thrifts to cease reporting these data
effective with the March 31, 2006, TFR.
B. Revisions of Existing Items
The instructions for the following four TFR lines would be revised
under this proposal.
1. Deposits with Balances of $100,000 or Less
OTS proposes to revise the reporting instructions for line DI120,
Deposits with Balances of $100,000 or Less. The instructions would be
revised to exclude reporting of retirement accounts eligible under the
higher deposit insurance limit.
2. Deposits with Balances Greater Than $100,000
OTS proposes to revise the reporting instructions for line DI130,
Deposits with Balances Greater Than $100,000.
[[Page 25284]]
The instructions would be revised to exclude reporting of retirement
accounts eligible under the higher deposit insurance limit.
3. Number of Deposit Accounts with Balances of $100,000 or Less
OTS proposes to revise the reporting instructions for line DI150,
Number of Deposit Accounts with Balances of $100,000 or Less. The
instructions would be revised to exclude reporting of retirement
accounts eligible under the higher deposit insurance limit.
4. DI160, Number of Deposit Accounts with Balances Greater Than
$100,000
OTS proposes to revise the reporting instructions for line DI160,
Number of Deposit Accounts with Balances Greater Than $100,000. The
instructions would be revised to exclude reporting of retirement
accounts eligible under the higher deposit insurance limit.
C. New Items
OTS proposes to add the following new line items.
1. Retirement Deposits with Balances of $250,000 or Less
OTS proposes to add line DI170, Retirement Deposits with Balances
of $250,000 or Less. Deposits in retirement accounts covered under the
higher deposit insurance limit would be reported in this line.
2. Retirement Deposits with Balances Greater Than $250,000
OTS proposes to add line DI175, Retirement Deposits with Balances
Greater Than $250,000. Deposits in retirement accounts covered under
the higher deposit insurance limit would be reported in this line.
3. Number of Retirement Deposit Accounts with Balances of $250,000 or
Less
OTS proposes to add line DI180, Number of Retirement Deposit
Accounts with Balances of $250,000 or Less. Deposits in retirement
accounts covered under the higher deposit insurance limit would be
reported in this line.
4. Number of Retirement Deposit Accounts with Balances Greater Than
$250,000
OTS proposes to add line DI185, Number of Retirement Deposit
Accounts with Balances Greater Than $250,000. Deposits in retirement
accounts covered under the higher deposit insurance limit would be
reported in this line.
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: 858.
Estimated Burden Hours per Respondent: 36.4 hours average for
quarterly schedules and 1.9 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: 129,987 hours.
OTS is proposing to revise the TFR, which is currently an approved
collection of information. The effect of the proposed revisions to the
TFR requirements on reporting burden will vary from institution to
institution depending, in some cases, on the institution's asset size
and, in other cases, on its involvement with the types of activities or
transactions to which the proposed changes apply. OTS estimates that
the implementation of these reporting revisions will not result in an
increase in the current reporting burden imposed by the TFR on all
savings associations.
Request for Comments: 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.
Clearance Officer: Marilyn K. Burton, (202) 906-6467, Office of
Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
OMB Reviewer: OTS Desk Officer, Fax: (202) 395-6974, Office of
Management and Budget, Room 10235, New Executive Office Building,
Washington, DC 20503.
Dated: April 25, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division.
[FR Doc. E6-6452 Filed 4-27-06; 8:45 am]
BILLING CODE 6720-01-P
