Consolidated Reports of Condition and Income

Forms and Documents

Document Name	Status
Form FFIEC-041 Consolidated Reports of Condition and Income Form	Modified
ffiec031.041_200612_83c.pdf Justification for No Material/Nonsubstantive Change	2006-12-04

IC Document Collections

IC ID	Document Title	Status
43112	Consolidated Reports of Condition and Income Form	Modified

ICR Details

OMB Control No: 7100-0036	ICR Reference No: 200612-7100-002
Status: Historical Active	Previous ICR Reference No: 200607-7100-001
Agency/Subagency: FRS	Agency Tracking No: FFIEC 031 and FFIEC 041
Title: Consolidated Reports of Condition and Income
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/05/2006
	Date Received in OIRA: 12/04/2006
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2009	03/31/2009	03/31/2009
Responses	3,676	0	3,676
Time Burden (Hours)	186,631	0	187,550
Cost Burden (Dollars)	0	0	0

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Abstract: State member banks are required to file detailed schedules of assets, liabilities, and capital accounts in the form of a condition report and summary statement; detailed schedule of operating income and expense, sources and disposition of income, and changes in equity capital are reported. Data are used for supervisory and monetary policy purposes.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: PL: Pub.L. 109 - 351 601 Name of Law: Financial Services Regulatory Relief Act of 2006

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Consolidated Reports of Condition and Income	FFIEC-031, FFIEC-041	Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only ,   Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	3,676	3,676	0	0	0	0
Annual Time Burden (Hours)	186,631	187,550	0	-919	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The Financial Services Regulatory Relief Act of 2006, which was signed into law on October 13, 2006, eliminates certain insider lending reporting requirements imposed on insured depository institutions and their insiders. As a result of this new legislation, the banking agencies need to eliminate the related page of the reporting forms. The burden associated with these data are 15 minutes per quarter. As discussed by Steve Hanft with Mark Menchik, the agencies will advise the public of the elimination of the reporting requirement in the final joint Federal Register notice announcing proposed changes for 2007. In addition, the agencies will send a letter to financial institutions informing them that the data do not need to be reported, effective for the December 31, 2006 as-of date.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/04/2006

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