Featured Product

    US Agencies Propose to Amend Call Reports, FFIEC 002, and FFIEC 002S

    February 05, 2021

    US Agencies (FDIC, FED, and OCC) proposed revision and three-year extension of the forms and instructions for the Call Reports FFIEC 031, FFIEC 041, and FFIEC 051. Revision and three-year extension is also being proposed for form FFIEC 002, which is the report on assets and liabilities of U.S. branches and agencies of foreign banks, and form FFIEC 002S, which is the report on assets and liabilities of a non-U.S. branch that is managed or controlled by a U.S. branch or agency of a foreign bank. The comment period on the proposed notice ends on April 06, 2021, while changes to the Call Reports and the FFIEC 002 reports are proposed to take effect as of the June 30, 2021 report date.

    The US Agencies are now requesting comment on revisions to the reporting forms and instructions for the Call Reports and the FFIEC 002 related to the exclusion of sweep deposits and certain other deposits from reporting as brokered deposits. The proposed changes were indicated by the US Agencies in the October 2020 final rule on Net Stable Funding Ratio (NSFR) final rule and by the FDIC in the December 2020 final rule on brokered deposits and interest rate restrictions, respectively. In addition, the US Agencies are proposing revisions to the Call Report and FFIEC 002 instructions addressing brokered deposits to align them with the final rule on brokered deposits and interest rate restrictions. Under the final rules on NSFR and the brokered deposits, the US Agencies had stated their intent to update the Call Report to obtain data that will assist in better evaluations of funding stability for sweep deposits over time to determine their appropriate treatment under applicable liquidity regulations. The intended update would also help to assess the risk factors associated with sweep deposits for determining their deposit insurance assessment implications, if any, as stated by the US Agencies. 

    In line with this announced intent, the US Agencies are now proposing to add new data items applicable to all institutions that file the Call Report and all insured institutions that file the FFIEC 002. Specifically, five data items would be added to Schedule RC-E, Deposit Liabilities, on all three versions of the Call Report (FFIEC 031, FFIEC 041, and FFIEC 051) and would be applicable to insured depository institutions of all sizes. These five data items would be collected quarterly on the FFIEC 031 and 041 Call Reports and semiannually on the FFIEC 051 Call Report. In addition, four data items would be added to Schedule RC-E, Deposit Liabilities on the FFIEC 031 Call Report only and would be completed quarterly only by institutions with USD 100 billion or more in total assets. On the FFIEC 002, the five data items would be added to Schedule O, Other Data for Deposit Insurance Assessments, as Memorandum items 8.a through 8.d and 9, and would be reported quarterly by the insured U.S. branches of foreign banks of all sizes.

     

    Related Links

    Comment Due Date: April 06, 2021

    Keywords: Americas, US, Banking, COVID-19, Paycheck Protection Program, Small Business Administration, Credit Risk, Loan Guarantee, Regulatory Capital, Basel, FED

    Featured Experts
    Related Articles
    News

    FDIC Proposes Amendments to Real Estate Lending Standards

    FDIC is seeking comments on a rule to amend the interagency guidelines for real estate lending policies—also known as the Real Estate Lending Standards.

    June 15, 2021 WebPage Regulatory News
    News

    MAS Amends Notices on Risk-Based Capital Adequacy Requirements

    MAS revised Notices 637 and 1111 on the risk-based capital adequacy requirements, along with Notice 656 on the exposures to single counterparty groups for banks incorporated in Singapore.

    June 14, 2021 WebPage Regulatory News
    News

    ISDA Consults on Implementation of Fallbacks for Certain Swap Rates

    ISDA is consulting on the implementation of fallbacks for the sterling LIBOR ICE Swap Rate and for the USD LIBOR ICE Swap Rate.

    June 11, 2021 WebPage Regulatory News
    News

    US Agencies Set Out Unified Agenda for Planned Regulatory Actions

    SEC announced that the Office of Information and Regulatory Affairs released the Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions.

    June 11, 2021 WebPage Regulatory News
    News

    BIS and BoE Launch Innovation Hub in London

    BIS and BoE launched the BIS Innovation Hub Center in London, which is the fourth new Innovation Hub Centre to be opened in the past two years.

    June 11, 2021 WebPage Regulatory News
    News

    ESRB Recommends Reciprocation of Certain Macroprudential Measures

    ESRB published recommendations on the reciprocation of macro-prudential measures in Belgium, France, Luxembourg, Norway, and Sweden.

    June 11, 2021 WebPage Regulatory News
    News

    MAS Amends Regulatory Notices Applicable to Banks in Singapore

    MAS revised multiple notices that are applicable to banks and merchant banks in Singapore and have been issued pursuant to the Banking Act (Cap 19).

    June 11, 2021 WebPage Regulatory News
    News

    EC Publishes Regulation on Key Aspects of Implementation of SA-CCR

    EC published the Delegated Regulation 2021/931, which supplements the Capital Requirements Regulation (CRR or Regulation 575/2013) with regard to the regulatory technical standards specifying the method for identifying derivative transactions with one or more than one material risk driver.

    June 10, 2021 WebPage Regulatory News
    News

    BCBS Consults on Prudential Treatment of Cryptoasset Exposures

    BCBS is consulting on preliminary proposals for the prudential treatment of cryptoasset exposures of banks.

    June 10, 2021 WebPage Regulatory News
    News

    EBA Revises List of Validation Rules for Reporting

    EBA issued a revised list of validation rules under the implementing technical standards on supervisory reporting.

    June 10, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7097