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

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582