Summary:
As part of their ongoing efforts to ease reporting requirements and lessen reporting burden, particularly for small institutions, the federal banking agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), have finalized additional burden-reducing revisions that will be made to all three versions of the Call Report effective June 30, 2018. Call Report revisions to address changes in the accounting for equity securities and other equity investments will take effect March 31, 2018. These revised Call Report requirements, which were issued for comment in June 2017, are subject to approval by the U.S. Office of Management and Budget.
Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised banks and savings associations, including community institutions.
Highlights:
-
The burden-reducing changes being implemented by the agencies apply to the new FFIEC 051 Call Report as
well as the FFIEC 041 and FFIEC 031 Call Reports.
- These revisions will take effect as of the June 30, 2018, report date, which is the proposed effective date of further burden-reducing Call Report revisions about which the agencies recently requested comment (see FIL-57-2017 , dated November 8, 2017).
- For small institutions filing the FFIEC 051, the reporting changes will affect approximately seven percent of the data items collected.
- Revisions will be made to several Call Report schedules as of March 31, 2018, in response to changes in the accounting for equity securities and other equity investments that take effect for some institutions in the first quarter of 2018.
- The agencies' June 2017 proposal also included an instructional revision for determining past-due status for regulatory reporting purposes. Based on the comments received on this aspect of the proposal, the agencies are not introducing this proposed instructional revision at this time.
- Redlined copies of the FFIEC 051, FFIEC 041, and FFIEC 031 report forms showing the Call Report revisions and the related draft instructions are available on the FFIEC's website ( https://www.ffiec.gov/ffiec_report_forms.htm ). This website also includes draft revised instructions to implement the agencies' regulatory capital transitions final rule in the Call Report for March 31, 2018 (see FIL-60-2017 , dated November 21, 2017).
- Institutions should review FIL-2-2018 for further information about the revisions to the Call Report requirements.
Distribution:
- FDIC-Supervised Banks (Commercial and Savings) and FDIC-Supervised Savings Associations
Suggested Routing:
- Chief Financial Officer
- Chief Accounting Officer
- Call Report Preparer
Paper copies may be obtained via the FDIC's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).