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OTS: Effect of FDIRA on Thrift Financial Reports

ABA Contact: Cris Naser
Published: 71 Federal Register 25282
Comments Due: June 27, 2006
Disposition: Filed

The OTS issued a notice requiring that banks include the following reporting elements in the September 30, 2006 Call Report to take into effect the increased insurance coverage for certain retirement accounts:

  • The amount and number of deposit accounts (excluding retirement accounts) of $100,000 or less;
  • The amount and number of deposit (excluding retirement accounts) of more than $100,000;
  • The amount and number of retirement deposit accounts of $250,000 or less; and
  • The amount and number of retirement deposit accounts of more than $250,000.

Despite this delay to September 2006, our members believe there is insufficient data to be at all accurate. In addition, there is confusion about exactly which retirement accounts are eligible for the increased insurance coverage. Therefore, ABA strongly urged the OTS to delay reporting uninsured deposits in the Call Report until 1) FDIC has finalized its deposit insurance interim rule and provided guidance about which types of retirement accounts are eligible for $250,000 in deposit insurance, and 2) savings institutions are given a reasonable amount of time to make the system changes necessary to provide this information.

2006 Regulations Chart
Comment Letter
Federal Register