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    FDIC Issues Letter on Submission of Call Reports by End of July 2020

    July 10, 2020

    FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (or Call Reports) for the June 30, 2020 report date must be submitted to the Central Data Repository of the relevant US agencies by July 30, 2020, with the exception of certain institutions with foreign offices. The supplemental instructions for FFIEC 031, FFIEC 041, and FFIEC 051 Call Reports and the supplemental instructions for COVID-19-related activities affecting the Call Reports are also attached with the FDIC letter. Institutions with more than one foreign office, other than a “shell” branch or an International Banking Facility, are permitted an additional five calendar days to submit the Call Report data. Such institutions must electronically file the data to the Central Data Repository no later than August 04, 2020. The Call Report forms for June 30, 2020 are available through the FFIEC and the FDIC websites.

    As mentioned in an FDIC letter from June 2020, the Call Report for this quarter includes revisions associated with several interim final rules and a final rule issued by one or all of the agencies in response to the impact on the financial markets and economy as a result of COVID-19. The revisions also result from certain provisions of the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act). New data items related to these rulemakings and the CARES Act have been added to the Call Reports for this quarter. Institutions should refer to the COVID-19-related supplemental instructions that were published in June 2020 and address these revisions. The standalone instructions also incorporate reporting instructions for COVID-19-related interim final rules that took effect for the first quarter 2020 Call Report. A number of Call Report revisions that are taking effect for the June 30, 2020 report date also implement certain recent changes to the agencies’ capital rule. Institutions are reminded that non-advanced approaches institutions that did not elect to implement the changes in capital requirements associated with the capital simplifications rule for the reporting period ending March 31, 2020 should implement these changes for the reporting period ending June 30, 2020.

     

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    Keywords: Americas, US, Banking, COVID-19, Submission Deadline, Reporting, Call Reports, Supplemental Instructions, CARES Act, FFIEC, FDIC, US Agencies

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