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    US Agencies to Revise Call Reports, FFIEC 002, and FFIEC 002S

    US Agencies (FDIC, FED, and OCC) published the Federal Register notice on changes to the Call Reports FFIEC 031, FFIEC 041, and FFIEC 051 for banks. The notice also covers changes to the FFIEC 002 and FFIEC 002S reports, which cover data on assets and liabilities of U.S. branches and certain non-US branches (respectively) of foreign banks. The changes are with respect to the deposit insurance assessments, brokered deposits, and sweep deposits, the proposals for which were issued on December 18, 2021 (for deposit assessments) and February 05, 2021 (for brokered and sweep deposits). After considering comments received on the proposals, the agencies are proceeding with the proposed revisions to the reporting forms and instructions related to the FDIC amendments to the deposit insurance assessment system, effective from the June 30, 2021 reporting date. Additionally, the changes with respect to the exclusion of sweep deposits and certain other deposits from reporting as brokered deposits will be effective with the September 30, 2021 reporting date. The US Agencies plan to submit to OMB a request to approve the revision and extension of these information collections, with the comment period on this Federal Register notice ending on June 23, 2021.

    After considering the one comment received on the assessments proposal form December 18, 2021, FDIC is proceeding with this proposal as it is. These changes to the Call Report would allow FDIC to implement its recently proposed amendments to the deposit insurance assessment system applicable to large and highly complex insured depository institutionsThe amendments to the assessment system remove the “double counting” of a specified portion of the current expected credit loss (CECL) accounting standard transitional amount or the modified CECL transition amount (as applicable) in certain financial measures that are calculated using the sum of tier 1 capital and reserves and that are used to determine assessment rates for large and highly complex insured depository institutions. These measures are used to determine assessment rates for large and highly complex institutions.

    One comment letter was also received for the February 2021 proposal on brokered and sweep deposits. The February proposal contained revisions to the reporting forms and instructions for the Call Reports and FFIEC 002 that would allow evaluation of the funding stability of sweep deposits over time to determine their appropriate treatment under liquidity regulations and assessment of the risk factors associated with sweep deposits that may no longer be reported as brokered deposits. After considering the comment letter, the US Agencies are proceeding with the proposed revisions to the reporting forms and instructions for the Call Report, with certain technical modifications, as described in the attached Federal Register notice. The revisions reflect the intent stated in the Net Stable Funding Ratio Final Rule (dated October 20, 2020) and in the Final Rule on Brokered Deposits and Interest Rate Restrictions (dated December 15, 2020). To allow institutions time to implement reporting changes to the Call Report related to sweep deposits on Schedule RC-E, Deposit Liabilities, the US Agencies would delay the implementation date for this reporting until the September 30, 2021 reporting date. Redlined copies of the FFIEC 031, FFIEC 041, and FFIEC 051 Call Report forms showing the proposed changes and the related draft reporting instructions are expected to be available on the FFIEC webpages for these reports

     

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    Comment Due Date: June 23, 2021

    Keywords: Americas, US, Banking, Reporting, FFIEC 002, Basel, Call Reports, FFIEC 031/041/051, NSFR, Liquidity Risk, CECL, Brokered Deposits, Regulatory Capital, Foreign Banks, FDIC, US Agencies

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