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FFIEC - TRUSTS ASSETS OF FINANCIAL INSTITUTIONS

INTRODUCTION

The Annual Report of Trust Assets was instituted in 1968 and has been conducted annually since then by the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. Since 1979 the reports have been conducted by these agencies under the auspices of the Federal Financial Institutions Examination Council. Beginning in 1984, the Office of Thrift Supervision (formerly the Federal Home Loan Bank Board) also joined in this annual collection of trust data for those thrift institutions under its jurisdiction, as well as their parent and affiliated institutions.

Reporting Trust Institutions

Refer to the table titled "Number of Trust Institutions by Class of Institution" for details of how many institutions are subject to reporting requirements, by class or type of institution. This table also indicates the general type of trust activities exercised by these institutions. Tables A-1, B-1, and C-1 provide information on the level and type of trust activities by class of institution. Table A-1 provides information on personal and employee benefit trust and agency accounts, Table B-1 covers collective investment funds, and Table C-1 provides data on corporate trust activities.

Since 1968, all insured commercial banks that operate trust departments, or have been granted consent to exercise trust powers, have been included in this publication. FDIC-insured savings banks that operate trust departments, or have been granted consent to exercise trust powers, have been included in the report since 1979.

Beginning in 1979, nondeposit noninsured trust companies have been included in the report. These generally fall into 3 categories: (1) National trust companies chartered by the Comptroller of the Currency but not insured by FDIC, (2) State chartered trust companies which are direct members of the Federal Reserve System, but are not insured by FDIC, and (3) State chartered trust companies that are not members of the Federal Reserve System but are owned by banks or thrift institutions, or are members of bank or thrift holding companies; none of these institutions are insured by FDIC.

Beginning in 1984, all federally-insured federal savings and loan associations and federal savings banks that have been granted trust powers by the Office of Thrift Supervision, as well as state-chartered savings and loan associations or savings banks which have been granted trust powers by their State Authority, have been included in this publication. In addition, data of trust companies operated by these institutions, parent holding companies, or service corporations have been included.

Public Availability of Information

All of the information from the Annual Report of Trust Assets, with the exception of information from Schedule E, is available to the public upon request. Information from Schedule E is considered confidential and will not be released to the public, other than the aggregates printed in the Trust Assets of Financial Institutions - 19xx book and reproduced on this web site.

Personal and Employee Benefit Trust Asset

The above institutions are required to report, on Schedule A of the report form, the market values of personal and employee benefit trust assets, as further explained in the instructions for completing the form. Asset valuation dates may differ among reporting institutions, although the bulk of trust assets are assumed to be valued as of year-end.

Collective Investment Funds

This provides a compilation of the various types of common trust funds and collective investment funds operated by the reporting institutions. This information was first collected in the 1979 Annual Report of Trust Assets, and is reported on Schedule B of the report form.

Corporate Trust Activities

Beginning with the 1985 Annual Report of Trust Assets, reporting institutions have been required to include (on Schedule C of the report form) information about what is typically termed "corporate trust" activities. These generally involve various aspects of securities processing, and are not restricted merely to securities of corporate issuers. "Corporate trust" includes bond trusteeships, stock and mutual fund transfer, and similar functions.

Affiliated Investment Advisors

In a number of instances, the trust investment divisions of money center or large regional banks have been established as separate subsidiaries of the bank or its parent holding company. In an effort to collect data on these affiliated trust-like entities, Schedule D was added to the Annual Report of Trust Assets in 1985. Other than aggregate information from the annual trust statistics book, Schedule D information submitted by individual organizations is not available on this web site. Please click on Additional Trust Information for further details.

Profitability of Trust Activities

Beginning in 1996, certain institutions which file the Annual Report of Trust Assets have been required to file information on trust department profitability. In general, large trust institutions plus stand-alone trust companies are required to file Schedule E, the Fiduciary Income Statement. A large trust institution is one which reports $100 million or more in total assets on Schedule A of the Annual Report of Trust Assets.

Data is provided in dollar aggregates for all institutions filing Schedule E. Data is also provided separately for banks and thrift institutions, and for non-deposit trust companies. Within these two separate categories, data is provided by both asset and income peer groups, and shown in dollar amounts and in percentages of total fiduciary income.

Other than the aggregate Schedule E information published in the annual trust statistics book, Schedule E data for individual institutions is confidential and is not available on this web site.

Comparability of Data

Every effort has been made to provide the data in this publication in a content and format which is compatible with previous data and publications. When utilizing the data in this book, however, the reader should be aware of the changes which have been made in the report form over the years.

From 1968 through 1984, only Schedule A of the current report form, covering personal and employee benefit trust and agency accounts, existed. From 1968 through 1977, all assets (except custodial assets) of personal and employee benefit trust and agency accounts were reported. No distinction was made between investment discretion accounts and non-managed or directed accounts. From 1978 through 1984, only assets of trust accounts over which investment discretion was exercised were reported.

A major expansion of the report form took place in 1985. The major changes involved the addition of data on (1) non-discretionary personal and employee benefit trust accounts and agencies, (2) corporate trust activities, and (3) affiliated investment advisors. Details of the other changes made in the 1985 report form are contained in the Introduction to the 1985 publication.

Because of these changes, statistics from one year should be carefully compared with other years.



EXPLANATORY NOTES

Reported Dollar Amounts, Numbers of Accounts, and Numbers of Reporters

In the following tables, all dollar figures are shown in thousands or millions as indicated. Numbers of accounts and institutions are reported in whole numbers. The number of reporting institutions represents those institutions exercising trust powers and reporting dollar amounts.

Personal and Employee Benefit Trust Assets Statistics

The instructions for reporting trust assets define the types of accounts and asset categories that are used in the tables in this portion of the publication. The meaning of investment discretion is also noted. Refer to the instructions for the appropriate report year. The instructions are available at www.ffiec.gov/ffiec_report_forms.htm#FFIEC001 .

The nine trust asset tables (A-1 through A-9) present data for the trust operations of reporting financial institutions. Data is shown for the entire industry by type of account (A-2), by asset distribution (A-3), and by size of trust institution in total trust assets (discretionary plus non-discretionary) (A-4). Table A-5 shows trust industry comparisons for the last three years by asset category. Table A-6 gives trust data comparisons for the last three years by type of account. Table A-7 gives trust data by type of account and by asset distribution for each state.

Table A-8 lists trust assets by type of account for each of the 100 largest banks and trust companies supervised by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board ranked according to total discretionary trust assets. Table A-9 lists the 15 largest Office of Thrift Supervision (OTS)-supervised thrift institutions and affiliated trust companies, ranked according to total discretionary trust assets.

Collective Investment Fund Statistics

Since 1979, all reporting financial institutions operating collective investment funds have been required to complete this schedule. The instructions require the reporting of the types of funds operated and their primary investment purposes.

Table B-1 presents a recap of collective investment fund activity for the industry. The next five tables (B-2A through B-2G) display the aggregate types of investments for each category of fund. Table B-3 lists the fifteen largest collective investment fund operations on the basis of aggregating all funds operated by each reporting institution. The next twelve tables (B-4 through B-15) show the fifteen largest funds based on each of the twelve types of investment objectives.

Corporate Trust Activities

Since 1985, all reporting financial institutions offering corporate trust services have been required to complete this schedule. The instructions require the reporting of the number of issues serviced, by type of appointment, as well as the total amount of outstanding bonds in appropriate bond trusteeship categories.

Tables C-1A and C-1B summarize the aggregate corporate trust activities reported, together with the number of institutions reporting each type of corporate trust activity. Tables C-2 through C-4 list the 15 largest corporate trust institutions, by type of corporate trust activity. The 15 largest bond trusteeship institutions are listed in Table C-2 by the principal amount of outstanding bonds, while the securities and mutual fund transfer institutions are listed in Table C-4 by the number of issues or funds transferred.

Affiliated Investment Advisors

Institutions with trust powers (or consent to exercise trust powers) which have affiliated investment advisors are requested to send Schedule D of the Annual Report of Trust Assets to the affiliated investment advisor, which then submits Schedule D directly to the Federal Financial Institutions Examination Council. Only those investment advisors which are affiliated (see instructions for definition) with a reporting institution, and which provide investment advisory or management services to the trust institution, are to file Schedule D.

Table D-1 provides an aggregation of the information reported in Schedule D. Table D-2 lists the 10 largest reporting affiliated investment advisors.

Other than aggregate information from the annual trust statistics book, Schedule D information submitted by individual organizations is not available on this web site. Please click on Additional Trust Information for further details.

Trust Profitability

Beginning in 1996, large trust institutions, as well as stand-alone trust companies, were required to complete a schedule providing information about profits and losses resulting from fiduciary operations. Information from this schedule is considered confidential, and data filed by individual institutions will not be released to the public. Aggregate data, provided by both asset and income peer groups, is being made available through the presentations in this book.

Table E-1 provides an aggregation of the information reported by all institutions filing Schedule E. These grand totals are then broken down into the two major categories of Schedule E filers, depository banks and thrifts, and non-deposit trust companies. Table E-2 presents the aggregates for banks and thrifts, while Table E-3 shows aggregates for non-deposit trust companies.

Tables E-4 through E-7 take the aggregate data for banks and thrifts that was presented in Table E-2 and break it down by asset and income peer groups. The data is depicted both as dollar amounts and as percentages of total fiduciary income.

Tables E-8 through E-11 take the aggregate data for non-deposit trust companies that was presented in Table E-3 and break it down by asset and income peer groups. The data is depicted both as dollar amounts and as percentages of total fiduciary income.

Other than the aggregate Schedule E information published in the annual trust statistics book, Schedule E data for individual institutions is confidential and is not available on this web site.

Report Form

A copy of the selected year's Annual Report of Trust Assets form, and related instructions, is available at www.ffiec.gov/ffiec_report_forms.htm#FFIEC001 .


TRUST INFORMATION
CONTENTS, INTRODUCTION, and  EXPLANATORY NOTES
Last Updated 11/08/2010 Questions, Suggestions & Requests