US Agencies (FDIC, FED, and OCC) proposed to revise and extend for three years the call reports FFIEC 031, FFIEC 041, FFEIC 051, and FFIEC 101. In addition, FED separately plans to propose the corresponding revisions to the Consolidated Financial Statements for Holding Companies (FR Y-9C). Comments on the consultation must be submitted on or before December 03, 2019. The agencies invite comment on any difficulties that institutions would expect to encounter in implementing the systems changes necessary to accommodate the proposed revisions to the Call Reports and the FFIEC 101 report or the minimum time required to make systems changes to implement these changes.
FFIEC 031 refers to the consolidated reports of condition and income for a bank with domestic and foreign offices, FFIEC 041 refers to the consolidated reports of condition and income for a bank with domestic offices only, FFIEC 051 refers to the consolidated reports of condition and income for a bank with domestic offices only and total assets less than USD 5 billion, and FFIEC 101 is the form on regulatory capital reporting for institutions subject to the advanced capital adequacy framework. The proposed revisions to the Call Reports and the FFIEC 101 report would implement various changes to the agencies' capital rule that the agencies have finalized or are considering finalizing. The following key revisions are being proposed:
- A change in the scope of the FFIEC 031 Call Report as well as an instructional revision for the reporting of operating lease liabilities in the Call Reports, both of which would take effect March 31, 2020
- A Call Report instructional revision for home equity lines of credit that convert from revolving to non-revolving status would also take effect from March 31, 2021
- Changes to Call Report Schedule RC-R, Part I Re,gulatory Capital Components and Ratios and FFIEC 101 Schedule A, Advanced Approaches Regulatory Capital
- Revisions to the instructions for Call Report Schedule RC-R, Part II, as well as to SLR Table 2 in FFIEC 101 Schedule A, to implement the proposed changes to the calculation of the exposure amount of derivative contracts under the agencies' capital rule, to provide clarification for institutions subject to Category III capital standards.
- Revisions to the Call Reports for banks that qualify for and opt into the Community Bank Leverage Ratio (CBLR) framework, consistent with the planned CBLR final rule. The reporting changes to the Call Reports proposed in the notice would take effect in the same quarter as the effective date of the planned final rule adopting the CBLR framework.
- Amendments to certain regulatory reports to clarify the reporting requirements for the institutions that would be subject to the domestic interagency tailoring and foreign interagency tailoring proposed rules issued in December 2018 and May 2019, respectively.
Related Link: Federal Register Notice
Comment Due Date: December 03, 2019
Keywords: Americas, US, Banking, Reporting, FFIEC 031, FFIEC 041, FFIEC 051, Call Reports, FFIEC 101, CBLR Framework, TLAC, Regulatory Capital, US Agencies
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