Agency Forms Under Review — 1995-03-06 [95-5369]

The proposed revisions to the FFIEC 002 that have been submitted to the Office of Management and Budget for approval are mandated by the Federal Financial Institutions Examination Council (FFIEC). On a quarterly basis, all U.S. branches and agencies of foreign banks (U.S. branches) are required to file detailed schedules of assets and liabilities in the form of a condition report and a variety of supporting schedules. This balance sheet information is used to fulfill the supervisory and regulatory requirements of the International Banking Act of 1978. The data are also used to augment the bank credit, loan, and deposit information needed for monetary policy purposes. The report is collected and processed by the Federal Reserve on behalf of all three federal bank regulatory agencies. The proposed changes affect several existing schedules. The following revisions are proposed for implementation as of March 31, 1995.