| (a) Call report. As used in this section, the term
"call report" means a statement of condition and income and results
of operations of a trust company as mandated by the banking commissioner
pursuant to Finance Code, §181.107.
(b) Reporting requirements of trust companies.
(1) Public trust companies. Each trust company that
transacts business with the public shall file four call reports annually
with the banking commissioner. Such call reports must be filed with
the banking commissioner no later than April 30, July 31, and October
31 of each year, and by January 31 of the subsequent year.
(2) Exempt trust companies. Each trust company that
is exempt pursuant to Finance Code, §182.011 or §182.019
shall file an annual call report with the banking commissioner no
later than April 30 of each year relating to the preceding calendar
year, accompanied by its annual certification, required by Finance
Code, §182.013(a), that the trust company is maintaining the
conditions and limitations of its exemption.
(3) Call report forms. The call report forms, the instructions
for completing the reports and the accompanying materials will be
furnished by the banking commissioner to all trust companies subject
to this subsection, or may be obtained upon request from the Texas
Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705-4294.
The banking commissioner may make such modifications and additions
to call report form and contents under this subsection as considered
necessary in the discretionary discharge of the banking commissioner's
duties. A trust company must submit all information requested on the
call report form.
(c) Special call reports. In addition to the requirements
of subsections (b) of this section, the banking commissioner may require
a trust company to file and submit a special call report, in such
form and manner and containing such information as may be requested,
on dates fixed, whenever in the banking commissioner's discretion
the special call report is necessary in the performance of the banking
commissioner's supervisory duties related to the safety and soundness
of the trust company. Special call reports must contain only such
information as is specifically requested by the banking commissioner.
(d) Call report declarations and attestations. Each
call report or special call report required to be filed under subsections
(b) and (c) of this section must contain a declaration by an executive
officer, or by another officer designated by the board of directors
of the trust company to make such declaration, that the report is
true and correct to the best of such individual's knowledge and belief.
The correctness of the call report or special call report must also
be attested by the signatures of at least two of the directors of
the trust company other than the officer making the declaration. The
declaration of the directors must state that the call report or special
call report has been examined by them and is true and correct to the
best of their knowledge and belief.
(e) Lobby notice and publication for public trust companies.
The latest call report filed with the banking commissioner pursuant
to subsection (b) of this subsection or a Notice of Call Report Availability
must be posted in the lobby of each trust company that transacts business
with the public at a point accessible to the public. A trust company
is not required to publish its call report in a newspaper or other
media unless specifically directed to do so by the banking commissioner.
A trust company required to publish its call report by the banking
commissioner shall publish the report in a newspaper or other medium
of general circulation as directed by the banking commissioner.
(f) Confidentiality. Call reports filed under subsection
(b)(2) of this section are confidential as provided by Finance Code, §181.107(c)(2).
Call reports filed under subsection (b)(1) are public information
except for those portions designated as confidential by the banking
commissioner, and may be published or otherwise disclosed to the public.
Special call reports filed pursuant to subsection (c) of this section
and non-public portions of call reports filed pursuant to subsection
(b) of this section are confidential, subject only to such disclosure
as may be permitted by Finance Code, §§181.301, et seq.
or by §3.111 of this title (relating to Confidential Information).
(g) Reports containing significant errors and penalties
for failure to file or for filing a report with false or misleading
information.
(1) Public trust companies. A trust company that transacts
business with the public which fails to make, file, or submit a timely
call report or a special call report as required by this section is
subject to a penalty not exceeding $500 a day to be collected by the
attorney general on behalf of the banking commissioner.
(2) Exempt trust companies. Failure of a trust company
that is exempt pursuant to Finance Code, §182.011 or §182.019
to make, file, or submit a timely call report or a special call report
as required by this section is grounds for revocation of its exempt
status.
(3) Corrections. Any trust company which makes, files,
submits or publishes a call report or special call report which contains
a significant error, shall file a corrected call report within 20
days from the date of request. For purposes of this subsection, a
significant error refers to any difference in the report of condition
and/or supporting schedules equating to 5.0% or more of total assets,
provided the amount is greater than $50,000, or any difference in
the report of income and/or supporting schedules equating to 5.0%
or more of total operating income, provided the amount is greater
than $5,000. Any trust company which makes, files, submits or publishes
a false or misleading call report or special call report is subject
to an enforcement action pursuant to Finance Code, §§185.001,
et seq.
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| Source Note: The provisions of this §17.23 adopted to be effective May 14, 1998, 23 TexReg 4564; amended to be effective July 11, 2002, 27 TexReg 5962; amended to be effective January 2, 2014, 38 TexReg 9483; amended to be effective January 7, 2016, 41 TexReg 109 |
