Forms, Instructions and Reports

As part of the FDIC's systematic review of its regulations and written policies under section 303(a) of the Riegle Community Development and Regulatory Improvement Act of 1994 (CDRI), the FDIC is revising its regulations relating to forms, instructions and reports. The regulation was created in 1948 to satisfy the requirement found in the Administrative Procedure Act (APA) to ``publish in the Federal Register * * * rules of procedure, descriptions of forms available or the places at which forms may be obtained, and instructions as to the scope and contents of all papers, reports, or examinations.'' A portion of the regulation was added in 1992 to implement the mandate found at section 122 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), which requires the FDIC to adopt a regulation which requires the collection of information on small farm and small business lending from insured depository institutions. In addition, section 37 of the Federal Deposit Insurance Act (FDI Act), as added by FDICIA, requires that the FDIC adopt regulations mandating the inclusion of ``off balance sheet'' items in all assets and liabilities (including contingent assets and liabilities) reflected on any balance sheet, financial statement, report of condition, or other report that insured depository institutions file with a federal banking agency. The additional requirement to include contingent assets and liabilities is being incorporated into a section of the regulation. In an effort to streamline its regulations and provide the public with information about its forms, instructions and reports (including specific dates by which such reports must be filed), the FDIC is revising this regulation, by removing unneeded language while retaining the listing of forms and other required information to satisfy the public information requirements found in FOIA, section 122 of FDICIA, and section 37 of the FDI Act.