Summary of Deposits Survey Filing for June 30, 2012

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July 31, 2012. No filing extensions will be granted. 

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter (FIL) applies to all FDIC-insured institutions. 

Highlights: 

• Institutions may use the FDIC's interactive SOD survey site (best suited for institutions with fewer than ten branches) or vendor software to prepare and submit their survey responses.
• Both the FDIC's interactive SOD survey site and vendor software require institutions to register for the SOD option in FDIC connect. Refer to the attached "FDIC connect and Summary of Deposits Registration Instructions" for additional information.
• Software vendors available to assist with the SOD filing are listed on page 3 of this FIL under "Electronic Filing Options."
• Institutions should review their current branch information on the FDIC's Institution Directory Web site at https://banks.data.fdic.gov/bankfind-suite/bankfind before completing the survey. If not submitted previously, branch information corrections may be included with the SOD survey.
• Instructions, survey results, market share reports, contact information, survey facsimiles, and access to FDICconnect are available through the FDIC's Summary of Deposits Web site at https://banks.data.fdic.gov/bankfind-suite/SOD.

Continuation of FIL-23-2012 

Distribution: 
FDIC-Insured Institutions, including Insured U.S. Branches of Foreign Banks 

Suggested Routing: 
Chief Executive Officer 
Summary of Deposits Preparer 

Note: 
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2012/index.html. 

To receive FILs electronically, please visit 

www.fdic.gov/about/subscriptions. 

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200). 
 

SUMMARY OF DEPOSITS SURVEY 
Filing for June 30, 2012 

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured branches of foreign banks. Institutions with branch offices are required to submit this survey to the FDIC by July 31, 2012. Institutions with only a main office are exempt; however, they will be included in the survey results based on the total deposits reported on their June Call Report. Publication of the survey data is dependent on timely and accurate filing by respondent institutions; therefore, no filing extensions will be granted. 

2012 SOD Timeline 

Prior to filing the June 30, 2012, SOD – Conduct Branch Review : Institutions should review branch structural information on the FDIC’s Institution Directory Web site at https://banks.data.fdic.gov/bankfind-suite/bankfind.  Institutions may submit corrections with the SOD survey if not submitted previously.

June 15, 2012 – Assign FDICconnect Privileges : Institutions may begin assigning SOD transaction privileges in FDIC connect to the person responsible for submitting the SOD.

June 15, 2012 – Update Branch Information Online : Institutions may begin using the “Complete the Summary of Deposits” option in FDIC connect to enter revisions to branch structure information (branch names and addresses). Institutions using vendor software should refer to guidance provided by their software vendor on how to submit changes with the uploaded SOD survey. If your bank has had last-minute structural changes, check with your software vendor about the features that will allow your list to be synchronized with the most up-to-date location information in FDIC connect .

July 1, 2012 : Institutions may begin submitting their June 30, 2012, SOD survey.

July 31, 2012 : 2012 Summary of Deposits filing deadline.

October 3, 2012 - Survey Results Published : The FDIC will publish the survey results on the FDIC's Summary of Deposits Web site at https://banks.data.fdic.gov/bankfind-suite/SOD no later than October 3, 2012. To be notified electronically when the 2012 SOD data and deposit market share reports become available, please subscribe to e-mail updates at www.fdic.gov/about/subscriptions. 

Electronic Filing Options 

Institutions must be registered users of FDIC connect and must assign SOD transaction privileges to the person responsible for submitting the SOD. New FDIC connect users must first register with FDIC connect . Refer to the attached FDIC connect and Summary of Deposits Registration Instructions for additional information.

Institutions have two options for filing electronically:

Using Vendor Software to Prepare a File for Upload to the FDIC – Institutions that use vendor software to prepare the SOD survey will be able to upload their completed survey information directly to the FDIC through FDIC connect. 

The following vendors have developed software to assist with the SOD filing. Institutions should contact these vendors directly for further information about their products and services:

Using the FDIC’s Interactive SOD Survey Option – The FDIC’s interactive SOD survey option is designed for institutions with a small number of branch offices. This option permits an institution to print worksheets, submit revised branch structure information with the survey, and edit SOD data in preparation for submission. Institutions may access the SOD survey site from the FDIC connect Web site at https://www.fdicconnect.gov/.

Data Accuracy and Validation 

Institutions must ensure that all information submitted for the SOD survey is accurate. The FDIC recommends that institutions submit their June 30 Call Report before filing the SOD survey to enable comparisons of deposit totals between the two reports.

Institutions should review the service type codes and the physical address, including the street address, city, state, zip code, and county, for all office locations to ensure consistency with United States Postal Service standards. Physical addresses and zip codes may be verified at http://zip4.usps.com/zip4/. Institutions should not use post office boxes, mailing addresses other than the actual physical address, street names without actual numbers, intersections, or any other general locations when filing their branch office location information.

Before completing the SOD survey, institutions should review their current branch information on the FDIC’s Institution Directory (ID) Web site at https://banks.data.fdic.gov/bankfind-suite/bankfind (or go to www.fdic.gov → Industry Analysis → Bank Data & Statistics → Institution Directory). 
From the ID home page, click on "Find Offices," enter the bank’s certificate number or institution name, then click on "Find."  The list of branch offices will be presented in state and county order. If an institution's branch office information is incorrect or incomplete, the institution should notify the FDIC with the correct branch structure information.

Before June 15, 2012, institutions may e-mail corrections to the FDIC’s Data Collection and Analysis Section at sod@fdic.gov. If you choose this method, then you must wait until the structure changes are reflected in the interactive filing option or request that your vendor software be synchronized with the most up-to-date information available in FDIC connect before filing your SOD survey.

Beginning June 15, 2012, corrections to structure data should be entered using the FDIC’s interactive SOD survey site or vendor software and submitted with the completed SOD survey. If an institution corrects branch office information because of a merger or branch purchase and assumption, the name, city, and state of the other institution involved in the transaction and the effective date must be included in the e-mail notification or within the "comments" section of the survey.

Electronic Amendments 

Once the initial 2012 survey information has been submitted, institutions can amend 2012 deposit totals by accessing the SOD transaction within FDIC connect until September 30, 2013. Institutions that have previously filed using FDIC connect will also be able to amend 2011 deposit totals until September 30, 2012, after which no further changes to 2011 data will be permitted through this process. To submit amended data , institution users must be assigned SOD transaction privileges within FDIC connect .

Assistance 

For assistance on how to register for the Summary of Deposits option within FDIC connect , contact the FDIC connect help desk at 1-877-275-3342 (select option 5 on the banker's menu). For all other questions about the SOD survey, please contact the FDIC’s Data Collection and Analysis Section at 1-800-688-3342, or if you know your assigned analyst’s direct number you may contact them directly. You may also request assistance by e-mail at sod@fdic.gov.