Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Consolidated Reports of Condition and Income for Fourth Quarter 2017
The attached materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the December 31, 2017, report date. Please plan to complete as early as possible the preparation, editing, and review of your institution’s Call Report data and the submission of these data to the agencies’ Central Data Repository (CDR). Starting your preparation early will help you identify and resolve any edit exceptions before 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 institutions with foreign offices, your completed Call Report must be received by Tuesday, January 30, 2018, in accordance with the filing requirements discussed below. No extensions of time for submitting Call Report data are granted.
The agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), implemented a new streamlined FFIEC 051 Call Report for eligible small institutions as of the March 31, 2017, report date. “Eligible small institutions” are institutions with domestic offices only and total assets less than $1 billion, excluding those that are advanced approaches institutions for regulatory capital purposes and those required to file the FFIEC 041 Call Report based on supervisory needs. For 2017, the $1 billion asset-size test is based on the total assets reported in an institution’s Call Report for June 30, 2016. An eligible institution that has not filed the FFIEC 051 Call Report as of a previous quarter-end report date in 2017 may report on the FFIEC 051 as of the December 31, 2017, report date. An eligible small institution is not required to file the FFIEC 051, but has the option to continue filing the FFIEC 041 Call Report.
Beginning in 2018, an eligible small institution would be expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during the year. To be eligible to file the FFIEC 051 report form for report dates in 2018, an institution with domestic offices only must have reported total assets less than $1 billion in its June 30, 2017, Call Report and not be subject to one of the exclusions mentioned above.
The FFIEC 051, FFIEC 041, and FFIEC 031 Call Report forms for December 2017 are available for printing and downloading on the FFIEC’s website (https://www.ffiec.gov/ffiec_report_forms.htm) and the Federal Deposit Insurance Corporation’s (FDIC) website (https://www.fdic.gov/callreports). The Call Report does not include any new or revised data items this quarter nor is there an instruction book update this quarter. Institutions should refer to the attached Supplemental Instructions for December 2017 for additional guidance on certain reporting issues. Please notify the individual responsible for preparing the Call Report at your institution about the electronic availability of the report forms and Supplemental Instructions for December 2017.
Institutions should note that Accounting Standards Codification Topic 740, Income Taxes, requires the tax effects of changes in tax laws or rates to be recognized in the period in which the law is enacted. Accordingly, the effects of the changes in tax laws and rates enacted on December 22, 2017, in the Tax Cuts and Jobs Act should be reflected in the Call Report for December 31, 2017. Because of the significance of these changes, the agencies plan to provide guidance to institutions that addresses the changes for purposes of the year-end 2017 Call Report in January 2018.
Each institution must file its December 31, 2017, Call Report data in one of two ways:
- By using computer software to prepare and edit its report data and then electronically submitting the data directly to the CDR (https://cdr.ffiec.gov/cdr/) or
- By completing its report in paper form and arranging 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 institution’s Call Report data file to the CDR.
Electronic submission of fourth quarter 2017 Call Report data will be considered timely if the data are received by the CDR no later than Tuesday, January 30, 2018, 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 in accordance with the “Guidelines for Resolving Edits” published on the FFIEC’s website at https://www.ffiec.gov/find/documents/resolvingedits.pdf.
An institution with 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 an institution must electronically transmit its data to the CDR no later than Sunday, February 4, 2018.
The CDR Help Desk is available from 9:00 a.m. until 8:00 p.m., Eastern Time, Monday through Friday, to provide assistance with user accounts, passwords, and other CDR system-related issues. The CDR Help Desk can be reached by telephone at (888) CDR-3111, by fax at (703) 774-3946, or by email at CDR.Help@ffiec.gov. For all other Call Report issues, institutions should contact their assigned Call Report analyst. If you do not know the analyst assigned to your institution, state member institutions should contact their Federal Reserve District Bank; national institutions, FDIC-supervised banks, and savings associations should contact the FDIC’s Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688-FDIC (3342).
- Grace E. Dailey
Senior Deputy Comptroller and
Chief National Bank Examiner
Office of the
Comptroller of the Currency - Michael S. Gibson
Director
Division of Banking
Supervision and Regulation
Board of Governors of the
Federal Reserve System - Doreen R. Eberley
Director
Division of Risk Management Supervision
Federal Deposit
Insurance Corporation
Attachment: Supplemental Instructions
Distribution: FDIC-Supervised Banks, National Institutions, State Member Institutions, and Savings Associations