51814 Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 

FEDERAL COMMUNICATIONS 

COMMISSION 

[DA 07–3842] 

Consumer Advisory Committee 

AGENCY: Federal Communications 

Commission. 

ACTION: Notice. 

SUMMARY: The Commission announces 

the next meeting date and agenda of its 

Consumer Advisory Committee 

(‘‘Committee’’). The purpose of the 

Committee is to make recommendations 

to the Commission regarding consumer 

issues within the jurisdiction of the 

Commission and to facilitate the 

participation of all consumers in 

proceedings before the Commission. 

DATES: The meeting of the Committee 

will take place on Thursday, September 

27, 2007, 3 p.m. to 5 p.m., at the 

Commission’s Headquarters Building, 

Room 3–B516. 

ADDRESSES: Federal Communications 

Commission, 445 12th Street, NW., 

Washington, DC 20554. 

FOR FURTHER INFORMATION CONTACT: 

Scott Marshall, Consumer & 

Governmental Affairs Bureau, (202) 

418–2809 (voice), (202) 418–0179 

(TTY), or e-mail scott.marshal@fcc.gov. 

SUPPLEMENTARY INFORMATION: On 

September 5, 2007, the Commission 

released document DA 07–3842, which 

announced the agenda, date and time of 

the Committee’s next meeting. At its 

September 27, 2007 meeting, the 

Committee will receive and consider 

draft comments prepared by members of 

its DTV Working Group in connection 

with the DTV Consumer Education 

Initiative, MB Docket No. 07–148. The 

Committee will have an opportunity to 

debate, amend, reject, or adopt these 

comments prior to their transmittal to 

the Commission. A limited amount of 

time on the agenda will be available for 

oral comments from the public. 

The Committee is organized under 

and operates in accordance with the 

provisions of the Federal Advisory 

Committee Act, 5 U.S.C. App. 2 (1988). 

The meeting is open to the public. 

Members of the public may address the 

Committee or may send written 

comments to: Scott Marshall, 

Designated Federal Officer of the 

Committee, at the address indicated on 

the first page of this document. The 

meeting site is accessible to people with 

disabilities. Meetings are sign language 

interpreted with real-time transcription 

and assistive listening devices available. 

Meeting agendas are provided in 

accessible formats. 

To request materials in accessible 

formats for people with disabilities 

(Braille, large print, electronic files, 

audio format), send an e-mail to 

fcc504@fcc.gov or call the Consumer & 

Governmental Affairs Bureau at 202–

418–0530 (voice), 202–418–0432 (TTY). 

Federal Communications Commission. 

Thomas Wyatt, 

Deputy Bureau Chief, Consumer & 

Governmental Affairs Bureau. 

[FR Doc. E7–17870 Filed 9–10–07; 8:45 am] 

BILLING CODE 6712–01–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

FEDERAL RESERVE SYSTEM 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

DEPARTMENT OF THE TREASURY 

Office of Thrift Supervision 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCIES: Office of the Comptroller of 

the Currency (OCC), Treasury; Board of 

Governors of the Federal Reserve 

System (Board); Federal Deposit 

Insurance Corporation (FDIC); and 

Office of Thrift Supervision (OTS), 

Treasury. 

ACTION: Joint notice and request for 

comment. 

SUMMARY: In accordance with the 

requirements of the Paperwork 

Reduction Act of 1995 (44 U.S.C. 

chapter 35), the OCC, the Board, the 

FDIC, and the OTS (the ‘‘agencies’’) may 

not conduct or sponsor, and the 

respondent is not required to respond 

to, an information collection unless it 

displays a currently valid Office of 

Management and Budget (OMB) control 

number. The Federal Financial 

Institutions Examination Council 

(FFIEC), of which the agencies are 

members, has approved the agencies’

publication for public comment of a 

proposal to extend, with revision, the 

Consolidated Reports of Condition and 

Income (Call Report) for banks and the 

Thrift Financial Report (TFR) for 

savings associations, which are 

currently approved collections of 

information. At the end of the comment 

period, the comments and 

recommendations received will be 

analyzed to determine the extent to 

which the FFIEC and the agencies 

should modify the proposed revisions 

prior to giving final approval. The 

agencies will then submit the revisions 

to OMB for review and approval. 

DATES: Comments must be submitted on 

or before November 13, 2007. 

ADDRESSES: Interested parties are 

invited to submit written comments to 

any or all of the agencies. All comments, 

which should refer to the OMB control 

number(s), will be shared among the 

agencies. 

OCC: Communications Division, 

Office of the Comptroller of the 

Currency, Public Information Room, 

Mailstop 1–5, Attention: 1557–0081, 

250 E Street, SW., Washington, DC 

20219. In addition, comments may be 

sent by fax to (202) 874–4448, or by 

electronic mail to 

regs.comments@occ.treas.gov. You may 

personally inspect and photocopy the 

comments at the OCC’s Public 

Information Room, 250 E Street, SW., 

Washington, DC 20219. For security 

reasons, the OCC requires that visitors 

make an appointment to inspect 

comments. You may do so by calling 

(202) 874–5043. Upon arrival, visitors 

will be required to present valid 

government-issued photo identification 

and submit to security screening in 

order to inspect and photocopy 

comments. 

Board: You may submit comments, 

which should refer to ‘‘Consolidated 

Reports of Condition and Income, 7100–

0036, March 2008’’ by any of the 

following methods: 

• Agency Web Site: http:// 

www.federalreserve.gov. Follow the 

instructions for submitting comments 

on the http://www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• E-mail: regs.comments@ 

federalreserve.gov. Include docket 

number in the subject line of the 

message. 

• FAX: 202–452–3819 or 202–452–

3102. 

• Mail: Jennifer J. Johnson, Secretary, 

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue, NW., Washington, 

DC 20551. 

All public comments are available from 

the Board’s Web site at http:// 

www.federalreserve.gov/generalinfo/ 

foia/ProposedRegs.cfm as submitted, 

unless modified for technical reasons. 

Accordingly, your comments will not be 

edited to remove any identifying or 

contact information. Public comments 

may also be viewed electronically or in 

paper in Room MP–500 of the Board’s 


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Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 51815 

1The proposed changes to the Call Report and the 

TFR that are the subject of this notice would take 

effect March 31, 2008. The banking agencies (the 

OCC, the Board, and the FDIC) are also considering 

a separate proposal to incorporate the FDIC’s 

Summary of Deposits report (OMB No. 3064–0061) 

into the Call Report effective June 30, 2008. If the 

FFIEC and the banking agencies approve the 

proposed inclusion of the Summary of Deposits in 

the Call Report, the banking agencies will publish 

a request for comment on this proposal in 

accordance with the requirements of the Paperwork 

Reduction Act of 1995. 

Martin Building (20th and C Streets, 

NW.) between 9 a.m. and 5 p.m. on 

weekdays. 

FDIC: You may submit comments, 

which should refer to ‘‘Consolidated 

Reports of Condition and Income, 3064–

0052,’’ by any of the following methods: 

• http://www.FDIC.gov/regulations/ 

laws/federal/notices.html. 

• E-mail: comments@FDIC.gov. 

Include ‘‘Consolidated Reports of 

Condition and Income, 3064–0052’’ in 

the subject line of the message. 

• Mail: Steven F. Hanft (202–898–

3907), Clearance Officer, Attn: 

Comments, Room MB–2088, Federal 

Deposit Insurance Corporation, 550 17th 

Street, NW., Washington, DC 20429. 

• Hand Delivery: Comments may be 

hand-delivered to the guard station at 

the rear of the 550 17th Street Building 

(located on F Street) on business days 

between 7 a.m. and 5 p.m. 

Public Inspection: All comments 

received will be posted without change 

to http://www.fdic.gov/regulations/laws/ 

federal/notices.html including any 

personal information provided. 

Comments may be inspected at the FDIC 

Public Information Center, Room E–

1002, 3501 Fairfax Drive, Arlington, VA 

22226, between 9 a.m. and 5 p.m. on 

business days. 

OTS: You may submit comments, 

identified by ‘‘1550–0023 (TFR: 

Schedule DI Revisions),’’ by any of the 

following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• E-mail address: 

infocollection.comments@ots.treas.gov. 

Please include ‘‘1550–0023 (TFR: March 

2008 Revisions)’’ in the subject line of 

the message and include your name and 

telephone number in the message. 

• Fax: (202) 906–6518. 

• Mail: Information Collection 

Comments, Chief Counsel’s Office, 

Office of Thrift Supervision, 1700 G 

Street, NW., Washington, DC 20552, 

Attention: ‘‘1550–0023 (TFR: March 

2008 Revisions).’’

• Hand Delivery/Courier: Guard’s 

Desk, East Lobby Entrance, 1700 G 

Street, NW., from 9 a.m. to 4 p.m. on 

business days, Attention: Information 

Collection Comments, Chief Counsel’s 

Office, Attention: ‘‘1550–0023 (TFR: 

March 2008 Revisions).’’

Instructions: All submissions received 

must include the agency name and OMB 

Control Number for this information 

collection. All comments received will 

be posted without change to the OTS 

Internet Site at http://www.ots.treas.gov/ 

pagehtml.cfm?catNumber=67&an=1, 

including any personal information 

provided. 

Docket: For access to the docket to 

read background documents or 

comments received, go to http:// 

www.ots.treas.gov/ 

pagehtml.cfm?catNumber=67&an=1. In 

addition, you may inspect comments at 

the Public Reading Room, 1700 G Street, 

NW., by appointment. To make an 

appointment for access, call (202) 906–

5922, send an e-mail to 

public.info@ots.treas.gov, or send a 

facsimile transmission to (202) 906–

7755. (Prior notice identifying the 

materials you will be requesting will 

assist us in serving you.) We schedule 

appointments on business days between 

10 a.m. and 4 p.m. In most cases, 

appointments will be available the next 

business day following the date we 

receive a request. 

Additionally, commenters may send a 

copy of their comments to the OMB 

desk officer for the agencies by mail to 

the Office of Information and Regulatory 

Affairs, U.S. Office of Management and 

Budget, New Executive Office Building, 

Room 10235, 725 17th Street, NW., 

Washington, DC 20503, or by fax to 

(202) 395–6974. 

FOR FURTHER INFORMATION CONTACT: For 

further information about the revisions 

discussed in this notice, please contact 

any of the agency clearance officers 

whose names appear below. In addition, 

copies of the Call Report forms can be 

obtained at the FFIEC’s Web site (http: 

//www.ffiec.gov/ffiec_report_forms.htm). 

Copies of the TFR can be obtained from 

the OTS’s Web site (http:// 

www.ots.treas.gov/ 

main.cfm?catNumber=2&catParent=0). 

OCC: Mary Gottlieb, OCC Clearance 

Officer, Office of the Comptroller of the 

Currency, 250 E Street, SW., 

Washington, DC 20219. 

Board: Michelle E. Shore, Federal 

Reserve Board Clearance Officer, (202) 

452–3829, Division of Research and 

Statistics, Board of Governors of the 

Federal Reserve System, 20th and C 

Streets, NW., Washington, DC 20551. 

Telecommunications Device for the Deaf 

(TDD) users may call (202) 263–4869. 

FDIC: Steven F. Hanft, Paperwork 

Clearance Officer, (202) 898–3907, Legal 

Division, Federal Deposit Insurance 

Corporation, 550 17th Street, NW., 

Washington, DC 20429. 

OTS: Ira L. Mills, OTS Clearance 

Officer, at Ira.Mills@ots.treas.gov, (202) 

906–6531, or facsimile number (202) 

906–6518, Litigation Division, Chief 

Counsel’s Office, Office of Thrift 

Supervision, 1700 G Street, NW., 

Washington, DC 20552. 

SUPPLEMENTARY INFORMATION: The 

agencies are proposing to revise and 

extend for three years the Call Report 

and the TFR, which are currently 

approved collections of information.1

1. Report Title: Consolidated Reports 

of Condition and Income (Call Report). 

Form Number: Call Report: FFIEC 031 

(for banks with domestic and foreign 

offices) and FFIEC 041 (for banks with 

domestic offices only). 

Frequency of Response: Quarterly. 

Affected Public: Business or other forprofit. 

OCC: 

OMB Number: 1557–0081. 

Estimated Number of Respondents: 

1,750 national banks. 

Estimated Time per Response: 45.42 

burden hours. 

Estimated Total Annual Burden: 

317,967 burden hours. 

Board: 

OMB Number: 7100–0036. 

Estimated Number of Respondents: 

885 state member banks. 

Estimated Time per Response: 52.07 

burden hours. 

Estimated Total Annual Burden: 

184,328 burden hours. 

FDIC: 

OMB Number: 3064–0052. 

Estimated Number of Respondents: 

5,218 insured state nonmember banks. 

Estimated Time per Response: 36.16 

burden hours. 

Estimated Total Annual Burden: 

754,732 burden hours. 

The estimated time per response for 

the Call Report is an average that varies 

by agency because of differences in the 

composition of the institutions under 

each agency’s supervision (e.g., size 

distribution of institutions, types of 

activities in which they are engaged, 

and existence of foreign offices). The 

average reporting burden for the Call 

Report is estimated to range from 16 to 

635 hours per quarter, depending on an 

individual institution’s circumstances. 

2. Report Title: Thrift Financial 

Report (TFR). 

Form Number: OTS 1313 (for savings 

associations). 

Frequency of Response: Quarterly; 

Annually. 

Affected Public: Business or other forprofit. 

OTS: 

OMB Number: 1550–0023. 


sroberts on PROD1PC70 with NOTICES
51816 Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 

Estimated Number of Respondents: 

838 savings associations. 

Estimated Time per Response: 36.50 

burden hours. 

Estimated Total Annual Burden: 

193,881 burden hours. 

General Description of Reports 

These information collections are 

mandatory: 12 U.S.C. 161 (for national 

banks), 12 U.S.C. 324 (for state member 

banks), 12 U.S.C. 1817 (for insured state 

nonmember commercial and savings 

banks), and 12 U.S.C. 1464 (for savings 

associations). Except for selected data 

items, these information collections are 

not given confidential treatment. 

Abstract 

Institutions submit Call Report and 

TFR data to the agencies each quarter 

for the agencies’ use in monitoring the 

condition, performance, and risk profile 

of individual institutions and the 

industry as a whole. Call Report and 

TFR data provide the most current 

statistical data available for evaluating 

institutions’ corporate applications, for 

identifying areas of focus for both onsite and off-site examinations, and for 

monetary and other public policy 

purposes. The agencies use Call Report 

and TFR data in evaluating interstate 

merger and acquisition applications to 

determine, as required by law, whether 

the resulting institution would control 

more than ten percent of the total 

amount of deposits of insured 

depository institutions in the United 

States. Call Report and TFR data are also 

used to calculate all institutions’ deposit 

insurance and Financing Corporation 

assessments, national banks’

semiannual assessment fees, and the 

OTS’s assessments on savings 

associations. 

Current Actions 

I. Overview 

The four agencies are proposing to 

revise the Call Report and TFR 

instructions for reporting daily average 

deposit data by newly insured 

institutions for deposit insurance 

assessment purposes to conform the 

instructions with the FDIC’s assessment 

regulations (12 CFR Part 327). These 

revisions are discussed in Section II.A 

of this notice. 

In addition, the OCC, the Board, and 

the FDIC (the banking agencies) propose 

to implement a number of other changes 

to the Call Report requirements, which 

are discussed in detail in Sections II.B 

through II.F of this notice. The OTS may 

issue a separate notice and request for 

comment if it determines that the TFR 

should be revised to include some or all 

of the proposed changes to the Call 

Report. The Call Report changes include 

several related to 1–4 family residential 

mortgage loans such as reporting 

interest and fee income on and the 

quarterly average for such mortgages 

separately from income on and the 

quarterly average for all other real estate 

loans and the addition of new items for 

restructured troubled mortgages and 

mortgage loans in process of foreclosure. 

Call Report Schedule RC–P on closedend 1–4 family residential mortgage 

banking activities, which is completed 

by larger banks and smaller banks with 

a significant level of such activities, 

would be expanded to include 

originations, purchases, and sales of 

open-end mortgages as well as closedend and open-end mortgage loan 

repurchases and indemnifications 

during the quarter. The Call Report’s 

trading account definition would be 

modified in response to the creation of 

a fair value option in generally accepted 

accounting principles (GAAP). Call 

Report Schedule RC–Q, which collects 

data on fair value measurements for 

trading assets and liabilities and other 

assets and liabilities accounted for 

under a fair value option, and certain 

other schedules, including the loan 

schedule (Schedule RC–C), would also 

be revised to enhance the information 

available on instruments accounted for 

under this option. Revisions would also 

be made to the schedule on trading 

assets and liabilities (Schedule RC–D). 

The Call Report instructions would be 

clarified for reporting credit derivative 

data in the risk-based capital schedule 

(Schedule RC–R) and a corresponding 

change would be made to the schedule 

itself. The threshold for reporting 

significant items of other noninterest 

income and expense in the explanations 

schedule (Schedule RI–E) would also be 

changed. The instructions for reporting 

fully insured brokered deposits in 

Schedule RC–E, Deposit Liabilities, 

would be revised to conform to the 

instructions for reporting time deposits 

in this schedule. 

The preceding proposed revisions to 

the Call Report and the TFR, which 

have been approved for publication by 

the FFIEC and are discussed in more 

detail below, would take effect as of 

March 31, 2008. The specific wording of 

the captions for the new or revised Call 

Report data items discussed in this 

proposal and the numbering of these 

data items should be regarded as 

preliminary. 

Finally, the banking agencies request 

comment on a plan to discontinue the 

mailing of paper Call Report forms and 

instructions to banks, which is 

discussed in Section III of this notice. 

Type of Review: Revision and 

extension of currently approved 

collections. 

II. Discussion of Proposed Revisions 

A. Reporting of Data for Deposit 

Insurance Assessments in the Call 

Report and TFR by Newly Insured 

Institutions 

Section 327.5(a)(1) of the FDIC’s 

assessment regulations (12 CFR 

327.5(a)(1)) states that ‘‘[a]n institution 

that becomes newly insured after the 

first report of condition allowing for 

average daily balances shall have its 

assessment base determined using 

average daily balances.’’ For purposes of 

these regulations, the term ‘‘report of 

condition’’ includes the Call Report and 

the TFR. Both of these reports first 

allowed an institution to report average 

daily balances for the deposit data used 

to determine its assessment base as of 

the March 31, 2007, report date. This 

change was introduced as of that date in 

conjunction with a revision and 

reduction in the overall reporting 

requirements related to deposit 

insurance assessments in Call Report 

Schedule RC–O and TFR Schedule DI 

that was intended to simplify regulatory 

reporting. As part of these revised 

overall reporting requirements, the 

agencies provided an interim period 

covering the March 31, 2007, through 

December 31, 2007, report dates during 

which each institution has the option to 

submit its Call Reports or TFRs using 

either the current or revised formats for 

reporting the data used to measure their 

assessment base. The revised reporting 

format will take effect for all institutions 

on March 31, 2008, at which time the 

current reporting format will be 

eliminated. 

The instructions issued in March 

2007 for the revised reporting format 

state that an institution that becomes 

newly insured on or after April 1, 2008, 

would be required to report daily 

average balances beginning in the first 

quarterly Call Report or TFR that it files. 

However, these instructions do not 

conform to the previously cited 

language in the FDIC’s assessments 

regulations with respect to their 

treatment of institutions that become 

insured between April 1, 2007, and 

March 31, 2008. Therefore, the agencies 

are revising the instructions to Call 

Report Schedule RC–O and TFR 

Schedule DI to require an institution 

that becomes insured after March 31, 

2007, but on or before March 31, 2008, 

to begin reporting daily average 

balances in its Call Report or TFR for 

the March 31, 2008, report date. The 

requirement for an institution that 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 51817 

2See Financial Accounting Standards Board 

Statement No. 15, Accounting by Debtors and 

Creditors for Troubled Debt Restructurings, footnote 

25. 

3See Financial Accounting Standards Board 

Statement No. 114, Accounting by Creditors for 

Impairment of a Loan, paragraph 22(f). 

4For banks that participate in the Mortgage 

Bankers Association’s (MBA) National Delinquency 

Survey, the time at which mortgage loans would 

become reportable as being in process of foreclosure 

for Call Report purposes would be the same time 

at which mortgage loans become reportable as being 

in ‘‘foreclosure inventory’’ for MBA survey 

purposes (although the dollar amount of such loans 

would be reported in the Call Report while the 

number of such loans are reported for MBA survey 

purposes). 

becomes insured on or after April 1, 

2008, to report daily average deposit 

data beginning in its first quarterly Call 

Report or TFR would remain in effect. 

B. Call Report Revisions Related to 1–

4 Family Residential Mortgage Loans 

Since year-end 2000, commercial 

bank holdings of 1–4 family residential 

mortgage loans in domestic offices have 

increased nearly 108 percent to more 

than $1.9 trillion. Nearly 98 percent of 

all banks hold such mortgages. 1–4 

family residential mortgages now 

represent the single largest category of 

loans held by commercial banks, 

surpassing commercial and industrial 

loans as the largest category in 2002. As 

a percentage of total loans and leases at 

commercial banks, 1–4 family 

residential mortgages have grown from 

24 percent at year-end 2000 to 32 

percent at year-end 2006. Similarly, 1–

4 family residential mortgages have 

increased from less than 15 percent of 

total assets to nearly 19 percent of total 

assets during this period. During the 

first quarter of 2007, bank originations 

and purchases of closed-end 1–4 family 

residential mortgages for resale 

exceeded $287 billion. There has been 

a growing use of nontraditional 

residential mortgage products and an 

increasing number of banks offering 

such products. In addition, the volume 

of 1–4 family residential mortgage loans 

extended to subprime borrowers has 

increased. At the same time, home 

prices have stagnated or even declined 

in many areas of the country. The higher 

concentration of 1–4 family residential 

mortgages across the industry and the 

changing risk profile of the loans with 

which banks are associated in some 

capacity has led the banking agencies to 

evaluate the information they collect 

about such loans in the Call Report. As 

a result, the banking agencies are 

proposing several Call Report changes 

that are intended to enhance their 

ability to monitor the nature and extent 

of banks’ involvement with 1–4 family 

residential mortgage loans as 

originators, holders, sellers, and 

servicers of such loans. 

1. Interest and Fee Income and 

Quarterly Average 

At present, banks report the total 

amount of interest and fee income on 

their ‘‘Loans secured by real estate’’ (in 

domestic offices) in the Call Report 

income statement (Schedule RI, item 

1.a.(1)(a) on the FFIEC 031 and item 

1.a.(1) on the FFIEC 041) and the 

quarterly average for these loans (in 

domestic offices) in the quarterly 

averages schedule (Schedule RC–K, item 

6.a.(2) on the FFIEC 031 and item 6.b on 

the FFIEC 041). The banking agencies 

are proposing to split these existing 

income statement and quarterly average 

items into separate items for the interest 

and fee income on and the quarterly 

averages of ‘‘Loans secured by 1–4 

family residential properties’’ and ‘‘All 

other loans secured by real estate.’’

2. Restructured Mortgages 

Banks currently report information on 

the amount of loans whose terms have 

been modified, because of a 

deterioration in the financial condition 

of the borrower, to provide for a 

reduction of either interest or principal. 

When such restructured loans are past 

due 30 days or more or are in 

nonaccrual status in relation to their 

modified terms as of the report date, 

they are reported in Schedule RC–N, 

Memorandum item 1. In contrast, when 

such restructured loans are less than 30 

days past due and are not otherwise in 

nonaccrual status, that is, when they are 

deemed to be in compliance with their 

modified terms as discussed in the Call 

Report instructions, banks report the 

amount of these loans in the Call Report 

loan schedule (Schedule RC–C, part I, 

Memorandum item 1). However, the 

instructions advise banks to exclude 

restructured loans secured by 1–4 

family residential properties from these 

Memorandum items. 

This exclusion was incorporated into 

the Call Report instructions because the 

original disclosure requirements for 

troubled debt restructurings under 

GAAP provided that creditors need not 

disclose information on restructured 

real estate loans secured by 1–4 family 

residential properties.2 However, this 

exemption from disclosure under GAAP 

has since been eliminated.3

Accordingly, the banking agencies are 

proposing to add a new Memorandum 

item to Schedule RC–C, part I, for 

‘‘Loans secured by 1–4 family 

residential properties (in domestic 

offices)’’ that have been restructured 

and are in compliance with their 

modified terms and a new 

Memorandum item to Schedule RC–N, 

for restructured ‘‘Loans secured by 1–4 

family residential properties (in 

domestic offices)’’ that are past due 30 

days or more or in nonaccrual status. 

3. Mortgages in Foreclosure 

The banking agencies currently 

collect data on the amount of loans 

secured by 1–4 family residential 

properties that are past due 30 days or 

more or are in nonaccrual status 

(Schedule RC–N, item 1.c) and on the 

amount of foreclosed 1–4 family 

residential properties held by the bank 

(Schedule RC–M, item 3.b.(3)). 

However, regardless of whether the 

bank owns the loans or services the 

loans for others, banks do not report the 

volume of 1–4 family residential 

mortgage loans that are in process of 

foreclosure, an indicator of potential 

additions to the bank’s ‘‘other real estate 

owned’’ in the near term. The banking 

agencies propose to add two new 

Memorandum items for the amount of 

1–4 family residential mortgage loans 

owned by the bank and serviced by the 

bank that are in foreclosure as of the 

quarter-end report date. Mortgage loans 

in foreclosure would be those for which 

the legal process of foreclosure has been 

initiated, but for which the foreclosure 

process has not yet been resolved at 

quarter-end.4 These Memorandum items 

would be added to the Call Report loan 

schedule (Schedule RC–C, part I) and 

the servicing, securitization, and asset 

sale activities schedule (Schedule RC–

S), with the carrying amount (before any 

applicable allowance for loan and leases 

losses) reported in the former 

Memorandum item and the principal 

amount reported in the latter 

Memorandum item. Reporting mortgage 

loans as being in process of foreclosure 

will not exempt those loans owned by 

the bank from being reported as past 

due or nonaccrual, as appropriate, in 

Call Report Schedule RC–N, and will 

not exempt those loans serviced by the 

bank that are reported in Schedule RC–

S, item 1, from being reported as past 

due, as appropriate, in that schedule. 

4. Open-end 1–4 Family Residential 

Mortgage Banking Activities 

Banks with $1 billion or more in total 

assets and smaller banks that meet 

certain criteria currently provide data 

on originations, purchases, and sales of 

closed-end 1–4 family residential 

mortgage loans during the quarter 

arising from their mortgage banking 

activities in domestic offices in Call 

Report Schedule RC–P. These banks 

also report the amount of closed-end 1–

4 family residential mortgage loans held 


sroberts on PROD1PC70 with NOTICES
51818 Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 

for sale at quarter-end as well as the 

noninterest income for the quarter from 

the sale, securitization, and servicing of 

these mortgage loans. Data (other than 

for noninterest income) is provided 

separately for first lien and junior lien 

mortgages in Schedule RC–P. About 650 

banks complete Schedule RC–P, less 

than 300 of which have total assets of 

less than $1 billion. However, this 

information does not provide a 

complete picture of banks’ mortgage 

banking activities since it excludes 

open-end 1–4 family residential 

mortgages extended under lines of 

credit. From year-end 2001 to year-end 

2006, bank holdings of 1–4 family 

residential mortgage loans extended 

under lines of credit more than tripled 

to nearly $470 billion. Accordingly, the 

banking agencies are proposing to 

expand the scope of Schedule RC–P to 

include separate items for originations, 

purchases, and sales of open-end 1–4 

family residential mortgages during the 

quarter; the amount of such mortgages 

held for sale at quarter-end; and 

noninterest income for the quarter from 

the sale, securitization, and servicing of 

open-end residential mortgages. When 

reporting the originations, purchases, 

sales, and mortgages held for sale, banks 

would report both the total commitment 

under the line of credit and the 

principal amount funded under the line. 

For banks with less than $1 billion in 

total assets, the criteria used to 

determine whether Schedule RC–P must 

be completed would be modified to 

include both closed-end and open-end 

1–4 family residential mortgage bank 

activities. 

5. Mortgage Repurchases and 

Indemnifications 

As a result of its 1–4 family 

residential mortgage banking activities, 

a bank may be obligated to repurchase 

mortgage loans that it has sold or 

otherwise indemnify the loan purchaser 

against loss because of borrower 

defaults, loan defects, other breaches of 

representations and warranties, or for 

other reasons, thereby exposing the 

bank to additional risk. Such 

information is not currently captured in 

Call Report Schedule RC–P. Therefore, 

the banking agencies propose to add 

four new items to Schedule RC–P to 

collect data on mortgage loan 

repurchases and indemnifications 

during the quarter. For both closed-end 

first lien and closed-end junior lien 1–

4 family residential mortgages, banks 

would report the principal amount of 

mortgages repurchased or indemnified. 

For open-end 1–4 family residential 

mortgages, banks would report both the 

total commitment under the line of 

credit and the principal amount funded 

under the line for mortgages 

repurchased or indemnified. 

C. Call Report Data on Trading Assets 

and Liabilities and Other Assets and 

Liabilities Accounted for Under a Fair 

Value Option 

1. Reporting of Assets and Liabilities 

Under the Fair Value Option as Trading 

On February 15, 2007, the Financial 

Accounting Standards Board (FASB) 

issued Statement No. 159, The Fair 

Value Option for Financial Assets and 

Financial Liabilities (FAS 159), which is 

effective for fiscal years beginning after 

November 15, 2007. Earlier adoption of 

FAS 159 was permitted as of the 

beginning of an earlier fiscal year, 

provided the bank (i) Also adopts all of 

the requirements of FASB Statement No. 

157, Fair Value Measurements (FAS 

157) at the early adoption date of FAS 

159; (ii) has not yet issued a financial 

statement or submitted Call Report data 

for any period of that fiscal year; and 

(iii) satisfies certain other conditions. 

Thus, a bank with a calendar year fiscal 

year may have voluntarily adopted FAS 

159 as of January 1, 2007. Changes in 

the fair value of financial assets and 

liabilities to which the fair value option 

is applied are reported in current 

earnings as is currently the case for 

trading assets and liabilities. Since the 

fair value option standard allows a bank 

to elect fair value measurement through 

earnings for financial assets and 

financial liabilities, the banking 

agencies understand that some 

institutions would like to reclassify 

certain loans elected to be accounted for 

under the fair value option as trading 

assets. The Call Report instructions 

currently do not allow loans held for 

sale to be reported as trading assets. 

Under FAS 159, all securities within 

the scope of FASB Statement No. 115, 

Accounting for Certain Investments in 

Debt and Equity Securities (FAS 115), 

that a bank has elected to report at fair 

value under a fair value option should 

be classified as trading securities. 

Recognizing the provisions of FAS 159, 

the banking agencies are proposing the 

following clarification to the Call Report 

instructions, including the Call Report 

Glossary entry for ‘‘Trading Account.’’

Banks may classify assets (other than 

securities within the scope of FAS 115 

for which a fair value option is elected) 

and liabilities as trading if the bank 

applies fair value accounting, with 

changes in fair value reported in current 

earnings, and manages these assets and 

liabilities as trading positions, subject to 

the controls and applicable regulatory 

guidance related to trading activities. 

For example, a bank would generally 

not classify a loan to which it has 

applied the fair value option as a trading 

asset unless the bank holds the loan, 

which it manages as a trading position, 

for one of the following purposes: (1) 

For market making activities, including 

such activities as accumulating loans for 

sale or securitization; (2) to benefit from 

actual or expected price movements; or 

(3) to lock in arbitrage profits. 

2. Revision of Certain Fair Value 

Measurement and Fair Value Option 

Information in the Call Report 

Effective for the March 31, 2007, 

report date, the banking agencies started 

collecting information on certain assets 

and liabilities measured at fair value on 

Call Report Schedule RC–Q, Financial 

Assets and Liabilities Measured at Fair 

Value. Schedule RC–Q was intended to 

be consistent with the disclosure and 

other requirements contained in FAS 

157 and FAS 159. Based on the banking 

agencies’ review of initial industry 

practice and inquiries from banks, the 

agencies have determined that industry 

practice for preparing and reporting 

FAS 157 disclosures has evolved 

differently than the process for the 

information collected on Schedule RC–

Q. This divergence has resulted in 

unnecessary burden and less 

transparency for the affected banks in 

two material respects. 

First, Schedule RC–Q does not allow 

banks to separately identify each of the 

three levels of fair value measurements 

prescribed by FAS 157. The banking 

agencies included Level 1 fair value 

measurements in the total fair value 

amount in column A of Schedule RC–

Q as a means of minimizing reporting 

burden. However, the omission of a 

separate column on Schedule RC–Q for 

Level 1 fair value measurements has 

increased the time bank managements 

spend preparing and reviewing 

Schedule RC–Q because the fair value 

disclosures on Schedule RC–Q differ 

from those in the banks’ other financial 

statements. Second, Schedule RC–Q 

does not allow banks to separately 

identify any amounts by which the gross 

fair values of assets and liabilities 

reported for Level 2 and 3 fair value 

measurements included in columns B 

and C have been offset (netted) in the 

determination of the total fair value 

reported on the Call Report balance 

sheet (Schedule RC), which is disclosed 

in column A of Schedule RC–Q. Based 

on a review of industry practice, these 

disclosures are commonly made in the 

banks’ other financial statements. 

To reduce confusion related to the 

differences in industry practice and the 

Call Report, the banking agencies 


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5This same reporting threshold applies to 

Schedule RI, Memorandum item 8, in which banks 

report a breakdown of trading revenue by risk 

exposure, but the banking agencies are not 

proposing to change the threshold for this 

Memorandum item. 

6For example, if a bank reported a quarterly 

average for trading assets of $2 million or more for 

the first time in its March 31, 2008, Call Report, it 

would begin to complete Schedule RC–D in its June 

30, 2008, Call Report. At present, the bank would 

not begin to complete Schedule RC–D until its 

March 31, 2009, Call Report. 

propose to add two columns to 

Schedule RC–Q to allow banks to report 

any netting adjustments and Level 1 fair 

value measurements separately in a 

manner consistent with industry 

practice. The new columns would be 

captioned column B, Amounts Netted in 

the Determination of Total Fair Value 

Reported on Schedule RC, and column 

C, Level 1 Fair Value Measurements. 

Existing column B, Level 2 Fair Value 

Measurements, and column C, Level 3 

Fair Value Measurements, of Schedule 

RC–Q would be recaptioned as columns 

D and E, respectively. Column A would 

remain unchanged. 

The banking agencies have also given 

further consideration to the information 

that will be necessary to effectively 

assess the safety and soundness of banks 

that utilize the fair value option 

pursuant to FAS 159. Based on this 

assessment, the banking agencies 

propose to amend certain other Call 

Report schedules to improve the 

agencies’ ability to make comparisons 

among entities that elect a fair value 

option and those that do not. The 

primary focus of these proposed 

changes is to enhance the information 

provided by banks that elect the fair 

value option for loans. The proposed 

changes are based on the principal 

objectives for disclosures and the 

required disclosures in FAS 159, which 

were intended to provide ‘‘information 

to enable users to understand the 

differences between fair value and 

contractual cash flows’’’ and to provide 

information ‘‘that would have been 

disclosed if the fair value option had not 

been elected.’’

Specifically, the banking agencies 

propose to add items to Schedule RC–

C, part I, Loans and Leases, to collect 

data on the loans reported in this 

schedule that are measured at fair value 

under a fair value option: (1) The fair 

value of such loans measured by major 

loan category, (2) the unpaid principal 

balance of such loans by major loan 

category, and (3) the aggregate amount 

of the difference between the fair value 

and the unpaid principal balance of 

such loans that is attributable (a) to 

changes in the credit risk of the loan 

since its origination and (b) to all other 

factors. Comments are invited on: (1) 

The availability of information 

necessary to separately report the 

aggregate difference between fair value 

and the unpaid principal that is 

attributable to changes in credit risk 

since origination, (2) the reliability of 

estimating the amount attributable to 

changes in credit risk since origination, 

and (3) ways to minimize the burden of 

collecting information regarding the 

effect of changes in credit risk on the 

carrying amount of loans measured at 

fair value. 

Because Schedule RC–C, part I, 

provides data on loans held for 

investment and for sale, the banking 

agencies propose to add the same items 

to Schedule RC–D, Trading Assets and 

Liabilities, for loans measured at fair 

value under a fair value option that are 

designated as held for trading. The 

banking agencies also propose to add a 

new item to Schedule RC–D for ‘‘Other 

trading liabilities’’ in recognition of a 

bank’s ability to elect to measure certain 

liabilities at fair value in accordance 

with FAS 159 and designate them as 

held for trading. 

The banking agencies propose to add 

two items to Schedule RC–N, Past Due 

and Nonaccrual Loans, Leases, and 

Other Assets, to collect data on the fair 

value and unpaid principal balance of 

loans measured at fair value under a fair 

value option that are past due or in 

nonaccrual status. The items would 

follow the existing three column 

breakdown on Schedule RC–N that 

banks utilize to report all other past due 

and nonaccrual loans. Since trading 

assets are not currently reported on 

Schedule RC–N, the banking agencies 

propose to add similar items to 

Schedule RC–D to collect the total fair 

value and unpaid principal balance of 

loans 90 days or more past due that are 

classified as trading. Finally, the 

banking agencies propose to add items 

to Schedule RI, Income Statement, to 

collect information on: (1) Net gains 

(losses) recognized in earnings on assets 

that are reported at fair value under a 

fair value option; (2) estimated net gains 

(losses) on loans attributable to changes 

in instrument-specific credit risk; (3) net 

gains (losses) recognized in earnings on 

liabilities that are reported at fair value 

under a fair value option; (4) estimated 

net gains (losses) on liabilities 

attributable to changes in the 

instrument-specific credit risk. 

3. Other Revisions to the Call Report 

Information on Trading Assets and 

Liabilities 

Since 2000, the total trading assets 

reported by banks has increased 

approximately 124 percent to $682 

billion or 7 percent of total industry 

assets as of March 31, 2007. In terms of 

concentrations, approximately 64 

percent of total trading assets now are 

either reported in the category of 

‘‘Trading assets held in foreign offices’’

(approximately 53 percent of total 

trading assets) or ‘‘Other trading assets 

in domestic offices’’ (approximately 11 

percent of total trading assets). Schedule 

RC–D, Trading Assets and Liabilities, 

currently does not provide any specific 

detail on the trading assets held in 

foreign offices or other trading assets in 

domestic offices. This limits the banking 

agencies’ ability to assess bank 

exposures to market, liquidity, credit, 

operational, and other risks posed by 

these assets. To appropriately assess the 

safety and soundness of banks with 

these exposures and banks with 

significant concentrations in trading 

assets, the banking agencies propose 

three revisions to Schedule RC–D. 

First, the banking agencies propose to 

eliminate the single line item for trading 

assets in foreign offices on the FFIEC 

031 Call Report form and revise the 

schedule to include separate columns 

for the consolidated bank and for 

domestic offices. This will provide 

detail on the assets in foreign offices in 

a manner consistent with disclosures 

about trading assets throughout the 

bank. Second, the banking agencies 

propose to change the reporting 

threshold for Schedule RC–D. At 

present, a bank must complete Schedule 

RC–D each quarter during a calendar 

year if the bank reported a quarterly 

average for trading assets of $2 million 

or more in Schedule RC–K, item 7, for 

any quarter of the preceding calendar 

year.5 As proposed, Schedule RC–D 

would be completed in any quarter 

when the quarterly average for trading 

assets was $2 million or more in any of 

the four preceding quarters.6 This 

change will enable the banking agencies 

to more quickly and readily monitor the 

composition and risk exposures of the 

trading accounts of banks that become 

more significantly involved in trading 

activities. During 2006, 118 banks 

reported average trading assets of $2 

million or more in any quarter of the 

year. 

Third, the banking agencies propose 

to require banks with average trading 

assets of $1 billion or more in any of the 

four preceding quarters to provide 

additional detail on trading assets and 

liabilities currently included in the 

‘‘other’’ trading asset and liability 

categories. These banks would provide 

additional breakouts for asset-backed 

securities by major category, 

collateralized debt obligations (both 

synthetic and non-synthetic), retained 


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interests in securitizations, equity 

securities (both with and without 

readily determinable fair values), and 

loans held pending securitization. In 

addition, these banks would be required 

to provide a description of and report 

the fair value of any type of trading asset 

or liability in the ‘‘Other trading assets’’

and ‘‘Other trading liabilities’’

categories that is greater than $25,000 

and exceeds 25 percent of the amount 

reported in that trading category. This 

threshold is comparable to the threshold 

that all banks use for providing 

additional detail on other assets and 

other liabilities reported in Schedules 

RC–F and RC–G, respectively. 

D. Reporting Credit Derivative Data for 

Risk-Based Capital Purposes in the Call 

Report 

Approximately 50 banks report that 

they have entered into credit derivative 

contracts either as a guarantor or 

beneficiary. For credit derivative 

contracts that are covered by the 

banking agencies’ risk-based capital 

standards, the Call Report instructions 

require banks to report these credit 

derivatives in item 52, ‘‘All other offbalance sheet liabilities,’’ of Schedule 

RC–R, Regulatory Capital, unless the 

credit derivatives represent recourse 

arrangements or direct credit 

substitutes, which are reported in one of 

the preceding items in the Derivatives 

and Off-Balance Sheet Items section of 

the schedule. This reporting approach 

was developed to enable banks that sold 

credit protection and held the credit 

derivative to apply a 100 percent risk 

weight to the notional amount 

consistent with the risk-based capital 

treatment of standby letters of credit and 

guarantees. At present, Schedule RC–R, 

item 54, ‘‘Derivative contracts,’’

specifically excludes credit derivatives 

and does not include a 100 percent risk 

weight column because the maximum 

risk weight on the counterparty credit 

risk charge for other types of derivatives 

is 50 percent. 

However, this reporting approach 

does not consider that some credit 

derivative positions are subject to a 

counterparty credit risk charge, which is 

calculated for other derivative positions 

in item 54, even if the credit derivatives 

are held by a bank that is subject to the 

market risk capital rules. The banking 

agencies also understand that credit 

derivatives often are included in 

bilateral netting arrangements. When 

derivatives are subject to such an 

arrangement, the instructions to 

Schedule RC–R, item 54, permit a bank 

to report a net amount representing its 

exposure to a counterparty for all 

derivative transactions under the 

bilateral netting arrangement with that 

counterparty. However, by instructing a 

bank not to report its counterparty 

credit risk exposure for credit 

derivatives in Schedule RC–R, item 54, 

the banking agencies are, in effect, 

requiring the bank to separate its 

exposures resulting from credit 

derivatives from its net exposure to a 

counterparty. As a consequence, the 

bank is unable to recognize the netting 

benefit in its risk-based capital 

calculation. 

The banking agencies are proposing to 

modify the Call Report instructions for 

Schedule RC–R to allow the reporting of 

the credit equivalent amount of credit 

derivatives subject to the counterparty 

credit risk charge in item 54 of the 

schedule. In addition, the banking 

agencies would extend the existing 100 

percent risk weight column in Schedule 

RC–R to item 54, ‘‘Derivative contracts.’’

E. Revision of Reporting Threshold for 

Other Noninterest Income and Other 

Noninterest Expense in the Call Report 

In 2001, the banking agencies changed 

the threshold for reporting detail on the 

components of ‘‘Other noninterest 

income,’’ included in Schedule RI, item 

5.l, and ‘‘Other noninterest expense,’’

reported in Schedule RI, item 7.d, to 

require banks separately to disclose on 

Schedule RI–E, Explanations, the 

description and amount of any 

component included in other 

noninterest income and other 

noninterest expense that exceeded 1 

percent of the sum of interest income 

and noninterest income. Since that time, 

the banking agencies have monitored 

bank disclosures of the types of 

noninterest income and noninterest 

expenses in excess of this threshold to 

assess the safety and soundness 

considerations associated with the 

changing sources of these income and 

expense streams. Based on this review, 

the banking agencies have determined 

that the current threshold does not 

provide sufficient information on the 

sources of bank noninterest income and 

noninterest expenses to adequately 

address their safety and soundness 

concerns. As a result, the banking 

agencies are proposing to change the 

threshold for reporting detail 

information on the components of other 

noninterest income and other 

noninterest expense. 

Prior to 2001, banks were required to 

separately disclose the description and 

amount of any item included in other 

noninterest income that exceeded 10 

percent of other noninterest income and 

any item included in other noninterest 

expense that exceeded 10 percent of 

other noninterest expense. The banking 

agencies have determined that 

thresholds based on a percentage of 

other noninterest income and other 

noninterest expense are more relevant 

criteria for determining when a bank 

should provide more detail. The 

banking agencies propose to change the 

threshold to require banks to separately 

disclose the description and amount of 

any item included in other noninterest 

income that exceeds 3 percent of other 

noninterest income and any item 

included in other noninterest expense 

that exceeds 3 percent of other 

noninterest expense. This percentage is 

intended to initially result in a reporting 

threshold that is comparable to the 

current 1 percent of interest income 

plus noninterest income threshold. It is 

also expected to provide more relevant 

disclosures than the current threshold 

as the amounts reported in noninterest 

income and noninterest expense change 

over time. 

In addition, based on a review of 

recent bank disclosures of components 

of other noninterest income and other 

noninterest expense reported in 

Schedule RI–E, the banking agencies 

plan to add one new preprinted caption 

for other noninterest income and four 

new preprinted captions for other 

noninterest expense to help banks 

comply with the disclosure 

requirements. As with the existing 

preprinted captions for other 

noninterest income and other 

noninterest expense, banks are only 

required to use these descriptions and 

provide the amounts for these 

components when the amounts 

included in other noninterest income or 

other noninterest expense exceed the 

reporting threshold. The new preprinted 

other noninterest income caption is 

bank card/credit card interchange fees. 

The new preprinted noninterest expense 

captions are: (1) Accounting and 

auditing expenses, (2) consulting and 

advisory expenses, (3) automated teller 

machine (ATM) and interchange 

expenses, and (4) telecommunications 

expenses. 

F. Reporting Brokered Time Deposits 

Participated Out by the Broker in the 

Call Report 

The banking agencies revised the 

instructions for Schedule RC–E, 

Memorandum items 2.b, ‘‘Total time 

deposits of less than $100,000,’’ and 2.c, 

‘‘Total time deposits of $100,000 or 

more,’’ in March 2007. This was done so 

that brokered time deposits issued in 

denominations of $100,000 or more that 

are participated out by the broker in 

shares of less than $100,000 would be 

reported in the former rather than the 

latter Memorandum item. However, the 


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Federal Register / Vol. 72, No. 175 / Tuesday, September 11, 2007 / Notices 51821 

banking agencies did not make a 

conforming instructional revision to 

Schedule RC–E, Memorandum items 

1.c.(1) and 1.c.(2), on fully insured 

brokered deposits. This means that 

these participated brokered time 

deposits continue to be reported as 

brokered deposits of greater than 

$100,000 rather than brokered deposits 

of less than $100,000. Consistent 

reporting of these brokered time 

deposits across these Schedule RC–E 

Memorandum items is needed for 

purposes of measuring a bank’s noncore liabilities. Therefore, the banking 

agencies are proposing to revise 

Schedule RC–E, Memorandum items 

1.c.(1) and 1.c.(2), so that brokered time 

deposits issued in denominations of 

$100,000 or more that are participated 

out by the broker in shares of less than 

$100,000 are reported in Memorandum 

item 1.c.(1) as fully insured brokered 

deposits of less than $100,000. 

III. Discontinuance of Mailing of Call 

Report Forms and Instructions 

The banking agencies are planning to 

discontinue the mailing of report forms 

and instructions for the FFIEC 031 and 

FFIEC 041. In March 2006, the banking 

agencies advised banks that beginning 

in June 2006 they would no longer mail 

sample Call Report forms to banks each 

quarter. At that time, the agencies stated 

that they planned to mail sample forms 

to banks only in those quarters when 

significant revisions are made to the 

report forms. The banking agencies have 

continued to mail updates to the Call 

Report instruction book in those 

quarters when such updates have been 

issued. Based on their current practice, 

the banking agencies’ next mailing 

would take place in March 2008. 

The Call Report forms and their 

instructions are available on the FFIEC’s 

Web site (http://www.ffiec.gov/ 

ffiec_report_forms.htm) and the FDIC’s 

Web site (http://www.fdic.gov/ 

regulations/resources/call/index.html) 

each quarter before any mailings of the 

paper forms and instructions are 

completed. A paper copy of the report 

forms and instructions can be printed 

from the Web sites. In addition, banks 

that use Call Report software generally 

can print paper copies of blank forms 

from their software. The banking 

agencies request comment on this issue. 

IV. Request for Comment 

Public comment is requested on all 

aspects of this joint notice. Comments 

are invited on: 

(a) Whether the proposed revisions to 

the Call Report and TFR collections of 

information are necessary for the proper 

performance of the agencies’ functions, 

including whether the information has 

practical utility; 

(b) The accuracy of the agencies’

estimates of the burden of the 

information collections as they are 

proposed to be revised, including the 

validity of the methodology and 

assumptions used; 

(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 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. 

Comments submitted in response to 

this joint notice will be shared among 

the agencies and will be summarized or 

included in the agencies’ requests for 

OMB approval. All comments will 

become a matter of public record. 

Dated: September 4, 2007. 

Stuart E. Feldstein, 

Assistant Director, Legislative and Regulatory 

Activities Division, Office of the Comptroller 

of the Currency. 

Board of Governors of the Federal Reserve 

System, September 5, 2007. 

Jennifer J. Johnson, 

Secretary of the Board. 

Dated at Washington, DC, this 31st day of 

August, 2007. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

Dated: August 30, 2007. 

Deborah Dakin, 

Senior Deputy Chief Counsel, Regulations and 

Legislation Division, Office of Thrift 

Supervision. 

[FR Doc. 07–4420 Filed 9–10–07; 8:45 am] 

BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P; 

6720–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Notice of a Matter To Be Deferred From 

the Agenda for Consideration at an 

Agency Meeting 

Pursuant to the provisions of the 

‘‘Government in the Sunshine Act’’ (5 

U.S.C. 552b), notice is hereby given that 

the following matter will be deferred 

from the ‘‘summary agenda’’ for 

consideration at the open meeting of the 

Board of Directors of the Federal 

Deposit Insurance Corporation 

scheduled to be held at 10 a.m. on 

Tuesday, September 11, 2007, in the 

Board Room on the sixth floor of the 

FDIC Building located at 550—17th 

Street, NW., Washington, DC: 

Memorandum and resolution re: 

Proposed FDIC Liquidation Investment 

Policy. 

Requests for further information 

concerning the meeting may be directed 

to Mr. Robert E. Feldman, Executive 

Secretary of the Corporation, at (202) 

898–7122. 

Dated: September 6, 2007. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. E7–17845 Filed 9–10–07; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisition of Shares of Bank or Bank 

Holding Companies 

The notificants listed below have 

applied under the Change in Bank 

Control Act (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire a bank or bank 

holding company. The factors that are 

considered in acting on the notices are 

set forth in paragraph 7 of the Act (12 

U.S.C. 1817(j)(7)). 

The notices are available for 

immediate inspection at the Federal 

Reserve Bank indicated. The notices 

also will be available for inspection at 

the office of the Board of Governors. 

Interested persons may express their 

views in writing to the Reserve Bank 

indicated for that notice or to the offices 

of the Board of Governors. Comments 

must be received not later than 

September 26, 2007. 

A. Federal Reserve Bank of Kansas 

City (Todd Offenbacker, Assistant Vice 

President) 925 Grand Avenue, Kansas 

City, Missouri 64198–0001: 

1. John D. Gross, Pine Bluffs, 

Wyoming, and Andrea G. Lamons, Fort 

Collins, Colorado, as co–trustees of the 

Loraine C. Gross Revocable Trust and 

the Charles C. Gross, Jr. Revocable 

Trust; to acquire voting shares of 

Commercial Bancorp, and thereby 

indirectly acquire voting shares of 

Farmers State Bank, both in Pine Bluffs, 

Wyoming. 

Board of Governors of the Federal Reserve 

System, September 6, 2007. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E7–17836 Filed 9–10–07; 8:45 am] 

BILLING CODE 6210–01–S 


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