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

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    HKMA Announces Launch of Data Repository on Sustainable Finance

    The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    NGFS Report on Integration of G-Cubed Model into NGFS Scenarios

    The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8301