Bank Reports

The enclosed materials pertain to the Reports of Condition and Income (Call Report) for March 31, 1998. Please complete your first quarter Call Report as soon as possible and then submit the report electronically. Your completed report must be received by April 30, 1998, in accordance with the filing requirements discussed below. No extensions of time for submitting reports are granted.

Each bank must file its March 31, 1998, Call Report in one of the following two ways:

• A bank may use computer software to prepare its report and then file the report directly with the banking agencies' electronic collection agent, Electronic Data Systems Corporation (EDS). The Call Report data file can be sent to EDS electronically by modem or on a computer diskette; or
• The institution may complete its report in paper form and arrange with EDS, a Call Report software vendor, or another party to convert its paper report to electronic form. If a party other than EDS performs this service, that party must electronically transmit the bank's Call Report data file to EDS.

The filing of a Call Report that is submitted electronically to EDS by modem will be considered timely if it is transmitted to EDS no later than April 30, 1998. A bank using the paper-based alternative method must ensure that the party that is converting its report to electronic form has sufficient time to convert and transmit it to EDS by this date.

Banks that send a computer diskette directly to EDS must mail the diskette to EDS no later than April 27, 1998. To be considered filed on time, the diskette must be properly addressed, mailed first class, and postmarked no later than this date. (A "Certificate of Mailing," U.S. Postal Service Form 3817, may also be used as proof.) Alternatively, a bank may send the diskette using an overnight delivery system on or before April 29, 1998. Any Call Report sent to EDS on a computer diskette that EDS cannot read will not be accepted and the bank must resubmit its report in readable form. This may result in EDS receiving the bank's Call Report data file after the submission deadline.

A bank that has or has had more than one foreign office, other than a "shell" branch or an International Banking Facility, is permitted an additional 15 days to complete its Call Report. Such a bank is required to electronically transmit its report to EDS no later than May 15, 1998.

As you were previously advised (see FIL-8-98: Inactive Financial Institution Letters: dated January 20, 1998, and FIL-28-98: Inactive Financial Institution Letters: dated March 16, 1998), the first quarter Call Report contains a few revisions that were approved by the Federal Financial Institutions Examination Council (FFIEC). The principal reporting changes are:

• For all banks, collecting the amount of "preferred deposits" annually as of each December 31 rather than quarterly and allowing the use of a second method for reporting low-level recourse transactions;
• For larger banks, reducing the level of detail on trading assets and adding new items for market risk capital requirements; and
• For banks with foreign offices, using the amortized (historical) cost basis to report all investment securities in the domestic office assets and liabilities schedule.

For the March 31, 1998, report date, banks may report a reasonable estimate for any new or revised Call Report item for which the requested information is not readily available.

All banks are reminded to provide information on the level of auditing work performed by independent external auditors during 1997 (Schedule RC, Memorandum item 1). This information is reported only as of the March 31 report date each year.

The first quarter Call Report materials contain a sample set of report forms for 1998 appropriate to your bank. Please retain this sample set of forms for use through December 31, 1998. The banking agencies will send sample Call Report forms for June 30, September 30, and December 31, 1998, to banks only upon request. When completing your bank's quarterly Call Report, you may request a sample form for the following quarter by marking the box located in the section of the report asking for the name of your bank's Call Report contact person. Each quarter's report forms also will be available on both the FFIEC's Web site (www.ffiec.gov) and the FDIC's Web site (www.fdic.gov). In addition, the enclosed materials include an optional regulatory capital worksheet and a report preparer's checklist to assist in verifying the accuracy of your report data. Beginning next quarter, copies of the worksheet and checklist will be provided to banks only upon request. Each of these items also is expected to be accessible via the Internet.

For further information or assistance concerning the Call Reports, state member banks should contact their Federal Reserve District Bank. National and FDIC-supervised banks should telephone the FDIC's Call Reports Analysis Section in Washington, D.C., toll free on (800) 688-FDIC (3342) or on (202) 898-6607, Monday through Friday between 8:00 a.m. and 5:00 p.m., Eastern Time.

Thank you for your cooperation.

Attachments:

Supplental Instructions

Optional Regulatory Capital Worksheet:

• Introduction PDF(7 KB File - PDF Help or Hard Copy )
• Part 1 PDF(16 KB File - PDF Help or Hard Copy )
• Part 2, Spreadsheet PDF(6 KB File - PDF Help or Hard Copy )
• Part 2, Instructions, and Part 3 PDF(29 KB File - PDF Help or Hard Copy )

Call Report Instruction Book Update PDF(225 KB File - PDF Help or Hard Copy )

Distribution: Insured Commercial Banks and FDIC-Supervised Savings Banks

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200).