BANK REPORTS

Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System

TO: CHIEF EXECUTIVE OFFICER

SUBJECT: Reports of Condition and Income for Fourth Quarter 2007

The attached material pertains to the Consolidated Reports of Condition and Income (Call Report) for the December 31, 2007, report date. Please plan to complete the preparation, editing, and review of your bank's Call Report data and the submission of these data to the agencies' Central Data Repository (CDR) as early as possible. Starting your preparation early will aid you in identifying and resolving any edit exceptions prior to the submission deadline. If you later find that certain information needs to be revised, please make the appropriate changes to your Call Report data and promptly submit the revised data file to the CDR.

Except for certain banks with foreign offices, your completed Call Report must be received by Wednesday, January 30, 2008, in accordance with the filing requirements discussed below. No extensions of time for submitting Call Report data are granted.

Sample Call Report forms for December 31, 2007, are available on both the Federal Financial Institutions Examination Council's (FFIEC) Web site (http://www.ffiec.gov/ffiec_report_forms.htm) and the Federal Deposit Insurance Corporation's (FDIC) Web site (http://www.fdic.gov/regulations/resources/call/index.html). The agencies are not sending a sample set of Call Report forms to banks this quarter. There is no update to the Call Report instruction book this quarter. Nevertheless, banks should refer to the attached Supplemental Instructions for additional guidance on certain reporting issues.

All banks are reminded to complete the item for preferred deposits (Memorandum item 1.e of Schedule RC-E). This information is collected only as of the December 31 report date each year.

Banks that have fiduciary or related activities (in the form of assets or accounts), either at the bank itself or in a trust company subsidiary, should ensure that they complete the appropriate items in Schedule RC T, Fiduciary and Related Services. The specific items that are to be completed in Schedule RC T are determined by a bank's total fiduciary assets as of December 31, 2006, or its gross fiduciary and related services income in 2006.

Each bank must file its December 31, 2007, Call Report data in one of the following two ways:

• A bank may use computer software to prepare and edit its report data and then electronically submit the data directly to the CDR (https://cdr.ffiec.gov/cdr/).
• A bank may complete its report in paper form and arrange with a software vendor or another party to convert its paper report into the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the bank's Call Report data file to the CDR.

Electronic submission of Call Report data will be considered timely if the data are received by the CDR no later than Wednesday, January 30, 2008, and pass FFIEC-published validation criteria (validity edits and quality edits) or, where necessary, contain explanations for any quality edits that are not passed. Explanatory comments should be prepared consistent with the "Guidelines for Resolving Edits" that are published on the FFIEC's Web site at http://www.ffiec.gov/find/documents/resolvingedits.pdf - PDF (PDF Help).

A bank that has more than one foreign office, other than a "shell" branch or an International Banking Facility, is permitted an additional five calendar days to submit its Call Report data. Such a bank must electronically transmit its data to the CDR no later than Monday, February 4, 2008.

To continue improving the timeliness with which Call Report data become available to the public, the agencies are planning to post some individual bank Call Report data on the Internet earlier than in past quarters. The agencies expect to continue to post individual bank data on the FFIEC's CDR Public Data Distribution (PDD) Web site every day beginning 15 calendar days after the report date (e.g., January 15, 2008). However, beginning with the December 31, 2007, report and subject to this 15-day rule, the agencies plan to reduce from 72 to 24 hours the amount of time between their acceptance and incorporation within the CDR of an individual bank's Call Report data and the posting of that data on the CDR PDD Web site.

For technical assistance with the CDR, banks should contact the CDR Help Desk by telephone at (888) CDR-3111, by fax at (703) 774-3946, or by e-mail at CDR.Help@ffiec.gov. For further information concerning the Call Report itself, state member banks should contact their Federal Reserve District Bank. National and FDIC-supervised banks should contact the FDIC's Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688 FDIC (3342) or by e-mail at insurance-research@fdic.gov.

Distribution

FDIC-Supervised Banks and Savings Institutions, National Institutions, and State Member Institutions