Featured Product

    US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C

    January 15, 2021

    FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies. Additionally, FDIC announced that, except for certain institutions with foreign offices, the completed Call Reports for the December 30, 2020 reporting date must be received by January 30, 2021. 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 file its data to the Central Data Repository no later than on February 04, 2021. FDIC also published the supplemental reporting instructions, including the COVID-19-related supplemental instructions for Call Reports and Form FFIEC 101.

    FFIEC had previously advised that the agencies have finalized revisions to the Call Reports and the FFIEC 101 report associated with several capital-related and other interim final rules; the revisions include those for a final rule issued by one or all of the agencies, from March through June 2020, in response to the impact on the financial markets and strains on the U.S. economy as a result of the COVID-19 event. These revisions also resulted from certain provisions of the 2020 Coronavirus Aid, Relief, and Economic Security Act, which has been amended by the Consolidated Appropriations Act, 2021, that was enacted into law on December 27, 2020. Institutions should refer to the attached separate standalone December 2020 COVID-19 Related Supplemental Instructions for the Call Reports and the FFIEC 101 addressing these applicable capital-related and other reporting revisions, which update the September 2020 versions of these Supplemental Instructions. 

    Earlier, FFIEC had also announced that the agencies recently issued an interim final rule providing relief to financial institutions with under USD 10 billion in total assets as of December 31, 2019, by allowing them to calculate their asset size for applicable thresholds in certain rules during calendar years 2020 and 2021 based on the lower of total assets as of December 31, 2019, or as of the normal measurement date. In particular, the interim final rule allows institutions that temporarily exceed the USD 10 billion total asset threshold to use the community bank leverage ratio framework in the Call Report Schedule RC-R from December 31, 2020, through December 31, 2021, provided they meet the other qualifying criteria for this framework. For each of these report dates, an institution would use the lesser of its total assets as of December 31, 2019, or as of the current quarter-end report date to determine whether it has met the USD 10 billion total asset threshold. Institutions should refer to the attached Supplemental Instructions for guidance on certain reporting issues. Institutions are urged to notify the individual responsible for preparing the Call Report at their institution about the electronic availability of the report forms, instruction book updates, standalone instructions for the COVID-19-related Call Report revisions, and Supplemental Instructions for December 2020.

     

    Related Links

    Keywords: Americas, US, Banking, COVID-19, FR Y-9C, Call Reports, FFIEC 101, CARES Act, Reporting, FED, FDIC

    Featured Experts
    Related Articles
    News

    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
    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
    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
    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
    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
    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
    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
    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
    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
    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