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November 09, 2017

The US Agencies (FDIC, FED, and OCC) proposed additional burden-reducing revisions to three Consolidated Reports of Condition and Income (Call Report)— that is, FFIEC 051, FFIEC 041, FFIEC 031. These changes include the removal or consolidation of existing data items and certain new or increased reporting thresholds. The proposal results from ongoing efforts by FFIEC to ease reporting requirements and lessen reporting burden on small and large institutions. Comments are invited on the proposal by January 08, 2018. The Call Report revisions are proposed to take effect from June 30, 2018.

The agencies developed the proposed changes based on their evaluation of responses to the final portion of a series of surveys of Call Report data users at the FFIEC member entities; the evaluation was conducted to support a statutorily mandated review of all existing Call Report data items, a re-evaluation of responses to certain previously reviewed surveys, and to consider industry comments and feedback received over the course of this FFIEC initiative. The current proposal more significantly affects schedules and data items in the FFIEC 041 and FFIEC 031 reports, because the final portion of the user surveys primarily included Call Report schedules covering complex or specialized activities that were removed when the new FFIEC 051 report was created.

The agencies are also considering the comments received on the burden-reducing Call Report revisions and certain other changes proposed in June 2017. Redlined copies of the FFIEC 051, FFIEC 041, and FFIEC 031 report forms showing the burden-reducing changes from the current proposal, along with the proposed revisions from the June 2017 proposal, have been made available. Furthermore, lists detailing the schedules and data items affected by the proposal have been included as appendices to the respective Federal Register notice. 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. 

 

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Comment Due Date: January 08, 2018

Effective Date: June 30, 2018

Keywords: Americas, US, Banking, FFIEC 051, FFIEC 041, FFIEC 031, Call Reports, US Agencies

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