Consolidated Reports of Condition and Income

Forms and Documents

Document Name	Status
Form FFIEC 031 Consolidated Reports of Condition and Income Form	Modified
FFIEC031_FFIEC041_201106_omb.docx Supporting Statement A	2011-06-16
611xFinalFedReg 061411.doc Supplementary Document	2011-06-15
Emergency.pdf Supplementary Document	2011-06-15

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: 201106-7100-004
Status: Historical Active	Previous ICR Reference No: 201101-7100-012
Agency/Subagency: FRS	Agency Tracking No: FFIEC 031 and FFIEC 041
Title: Consolidated Reports of Condition and Income
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 06/21/2011
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/17/2011
	Date Received in OIRA: 06/16/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2011	6 Months From Approved	03/31/2014
Responses	3,364	0	3,364
Time Burden (Hours)	186,601	0	185,659
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.

Emergency Justfication: These revisions arise from a final rule approved by the FDIC Board of Directors on February 7, 2011, which implemented Section 331(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and revised the assessment system for large insured depository institutions. In order for the FDIC to calculate deposit insurance assessments under the final rule, the FDIC needs certain new data not currently collected from insured depository institutions. The agencies proposed to collect this data in an initial Federal Register notice published March 16, 2011. However, public comments were received on this notice and the consideration of those comments did not allow the agencies to finalize the changes prior to the effective date of June 30, 2011.

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Authorizing Statute(s): US Code: 12 USC 324 Name of Law: Federal Reserve Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 331(b) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AD66	Final or interim final rulemaking	76 FR 10672	02/25/2011

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 14460	03/16/2011
Did the Agency receive public comments on this ICR? Yes

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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 041, FFIEC 031	Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices ,   Consolidated Reports of Condition and Income for Banks with Domestic Offices Only

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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	3,364	3,364	0	0	0	0
Annual Time Burden (Hours)	186,601	185,659	942	0	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: No

Burden Reduction Due to:

Short Statement: The change in burden associated with this request for emergency clearance is caused by the FDIC's implementation of a final rule adopted February 7, 2011, that (a) redefines the assessment base for insured depository institutions in accordance with Section 331(b) of the Dodd-Frank Act and (b) revises the system used to set assessment rates for "large institutions" and "highly complex institutions" by using a scorecard that combines CAMELS ratings and certain forward-looking financial measures to assess the risk such institutions pose to the deposit insurance fund.

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Annual Cost to Federal Government: $1,139,127

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]? No

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

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 06/16/2011

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