Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 2 - TEXAS DEPARTMENT OF BANKING
Chapter 17 - TRUST COMPANY REGULATION
Subchapter B - EXAMINATION AND CALL REPORTS
Section 17.23 - Call Reports

Universal Citation: 7 TX Admin Code ยง 17.23

Current through Reg. 49, No. 38; September 20, 2024

(a) Call report. As used in this section, the term "call report" means a statement of condition and income and results of operations of a trust company as mandated by the banking commissioner pursuant to Finance Code, § RSA 181.107.

(b) Reporting requirements of trust companies.

(1) Public trust companies. Each trust company that transacts business with the public shall file four call reports annually with the banking commissioner. Such call reports must be filed with the banking commissioner no later than April 30, July 31, and October 31 of each year, and by January 31 of the subsequent year.

(2) Exempt trust companies. Each trust company that is exempt pursuant to Finance Code, § RSA 182.011 or § RSA 182.019 shall file an annual call report with the banking commissioner no later than April 30 of each year relating to the preceding calendar year, accompanied by its annual certification, required by Finance Code, § RSA 182.013(a), that the trust company is maintaining the conditions and limitations of its exemption.

(3) Call report forms. The call report forms, the instructions for completing the reports and the accompanying materials will be furnished by the banking commissioner to all trust companies subject to this subsection, or may be obtained upon request from the Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705-4294. The banking commissioner may make such modifications and additions to call report form and contents under this subsection as considered necessary in the discretionary discharge of the banking commissioner's duties. A trust company must submit all information requested on the call report form.

(c) Special call reports. In addition to the requirements of subsections (b) of this section, the banking commissioner may require a trust company to file and submit a special call report, in such form and manner and containing such information as may be requested, on dates fixed, whenever in the banking commissioner's discretion the special call report is necessary in the performance of the banking commissioner's supervisory duties related to the safety and soundness of the trust company. Special call reports must contain only such information as is specifically requested by the banking commissioner.

(d) Call report declarations and attestations. Each call report or special call report required to be filed under subsections (b) and (c) of this section must contain a declaration by an executive officer, or by another officer designated by the board of directors of the trust company to make such declaration, that the report is true and correct to the best of such individual's knowledge and belief. The correctness of the call report or special call report must also be attested by the signatures of at least two of the directors of the trust company other than the officer making the declaration. The declaration of the directors must state that the call report or special call report has been examined by them and is true and correct to the best of their knowledge and belief.

(e) Lobby notice and publication for public trust companies. The latest call report filed with the banking commissioner pursuant to subsection (b) of this subsection or a Notice of Call Report Availability must be posted in the lobby of each trust company that transacts business with the public at a point accessible to the public. A trust company is not required to publish its call report in a newspaper or other media unless specifically directed to do so by the banking commissioner. A trust company required to publish its call report by the banking commissioner shall publish the report in a newspaper or other medium of general circulation as directed by the banking commissioner.

(f) Confidentiality. Call reports filed under subsection (b)(2) of this section are confidential as provided by Finance Code, § RSA 181.107(c)(2). Call reports filed under subsection (b)(1) are public information except for those portions designated as confidential by the banking commissioner , and may be published or otherwise disclosed to the public. Special call reports filed pursuant to subsection (c) of this section and non-public portions of call reports filed pursuant to subsection (b) of this section are confidential, subject only to such disclosure as may be permitted by Finance Code, §§ RSA 181.301, et seq. or by § RSA 3.111 of this title (relating to Confidential Information).

(g) Reports containing significant errors and penalties for failure to file or for filing a report with false or misleading information.

(1) Public trust companies. A trust company that transacts business with the public which fails to make, file, or submit a timely call report or a special call report as required by this section is subject to a penalty not exceeding $500 a day to be collected by the attorney general on behalf of the banking commissioner.

(2) Exempt trust companies. Failure of a trust company that is exempt pursuant to Finance Code, § RSA 182.011 or § RSA 182.019 to make, file, or submit a timely call report or a special call report as required by this section is grounds for revocation of its exempt status.

(3) Corrections. Any trust company which makes, files, submits or publishes a call report or special call report which contains a significant error, shall file a corrected call report within 20 days from the date of request. For purposes of this subsection, a significant error refers to any difference in the report of condition and/or supporting schedules equating to 5.0% or more of total assets, provided the amount is greater than $50,000, or any difference in the report of income and/or supporting schedules equating to 5.0% or more of total operating income, provided the amount is greater than $5,000. Any trust company which makes, files, submits or publishes a false or misleading call report or special call report is subject to an enforcement action pursuant to Finance Code, §§ RSA 185.001, et seq.

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