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_FFIEC051_20200402_18_question_omb_emergency.pdf Supplementary Document	2020-04-02
FFIEC031_FFIEC041_FFIEC051_20200402_omb_emergency.pdf Supporting Statement A	2020-04-02

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: 202004-7100-002
Status: Historical Active	Previous ICR Reference No: 202001-7100-007
Agency/Subagency: FRS	Agency Tracking No: FFIEC 031; FFIEC 041; FFIEC 051
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: 04/02/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/03/2020
	Date Received in OIRA: 04/02/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2020	6 Months From Approved	03/31/2023
Responses	3,116	0	3,116
Time Burden (Hours)	138,506	0	138,506
Cost Burden (Dollars)	0	0	0

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Abstract: The Board uses the information collected on the Call Reports to fulfill its statutory obligation to supervise state member banks. 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 as well as detailed schedules of operating income and expense, sources and disposition of income, and changes in equity capital.

Emergency Justfication: The Board, FDIC, and OCC (the agencies) propose under the emergency clearance provisions of OMB’s regulations to revise the Call Reports effective beginning with the March 31, 2020 report date. The agencies are providing a summary of the three interim final rules (IFRs) issued in response to disruptions related to COVID-19 and one reporting change related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Although there is a substantive change to the actual calculation of items, as identified below, for purposes of the Call Reports, the change should be minimal and result in a zero net change in hourly burden under the agencies’ information collections. The current estimated total annual burden for the Call Reports is 138,506 hours, and would not change with the proposed revision. The agencies have determined that (1) the collection of information within the scope of this request is needed prior to the expiration of time periods established under 5 CFR 1320.10, (2) this collection of information is essential to the mission of the agencies, and (3) the agencies cannot reasonably comply with the normal clearance procedures because an unanticipated event has occurred and the use of normal clearance procedures is reasonably likely to prevent or disrupt the collection of information. Recent events have suddenly and significantly impacted financial markets. The spread of the coronavirus disease 2019 has disrupted economic activity in many countries. In addition, financial markets have experienced significant volatility. The magnitude and persistence of the overall effects on the economy remain highly uncertain. In light of these developments, banking organizations may realize a sudden, unanticipated drop in capital ratios and liquidity. This could create a strong incentive for these banking organizations to limit their lending and other financial intermediation activities in order to avoid facing abrupt regulatory capital and liquidity limitations.

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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. 116 - 136 134 Stat. 281 Name of Law: Coronavirus Aid, Relief, and Economic Security Act

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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, FFIEC 051	Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices ,   Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only ,   Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less than $5 Billion

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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	3,116	3,116	0	0	0	0
Annual Time Burden (Hours)	138,506	138,506	0	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:

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Annual Cost to Federal Government: $1,871,500

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? No

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: 04/02/2020

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