The US Agencies (OCC, Treasury, FED, and FDIC) issued a joint notice proposing revisions to Consolidated Reports of Condition and Income (Call Reports) FFIEC 031, FFIEC 041, and FFIEC 051, which are currently approved collections of information. The publication of this proposal has been approved by FFIEC. The proposed revisions would take effect as of the reporting date of March 31, 2018. Updated forms for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051 were also posted.
FFIEC 031 is the Call Report for a bank with domestic and foreign offices, FFIEC 041 is the Call Report for a bank with domestic offices only, and FFIEC 051 is the call report for a bank with domestic offices only and total assets less than USD 1 billion. The proposed revisions to the FFIEC 051, FFIEC 041, and FFIEC 031 Call Reports would result in an overall reduction in burden. The proposed revisions primarily relate to the deletion or consolidation of a large number of items, the raising of certain reporting thresholds, and a reduction in reporting frequency for a number of items. The proposed revisions also address the definition of ‘‘past due’’ for regulatory reporting purposes as well as changes in the accounting for equity investments. Overall, these revisions are expected to reduce the reporting burden.The FFIEC and agencies will review the comments and recommendations received before giving the final approval on whether the proposed modifications should be made to these forms.
Comment Due Date: August 28, 2017
Keywords: Americas, USA, Banking, FFIEC 051, FFIEC 041, FFIEC 031, Call Reports, US Agencies
Previous ArticleESMA Issues Report on Fees Charged by CRAs and Trade Repositories
EC published the Implementing Regulation 2021/763 that lays down implementing technical standards for supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (MREL).
EBA published a report that examines the convergence of prudential supervisory practices in 2020 and offers conclusions of the EBA college monitoring activity.
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).
Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
The Sustainable Finance Taskforce of IOSCO held two roundtables, with global stakeholders, on the IOSCO priorities to enhance the reliability, comparability, and consistency of sustainability-related disclosures and to collect views on the practical implementation of a global system architecture for these disclosures.
Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA
ESMA published the final guidelines on outsourcing to cloud service providers.
EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.