FDIC Issues Supplemental Instructions for Filing Call Reports
The Federal Deposit Insurance Corporation (FDIC) issued supplemental instructions for the Consolidated Reports of Condition and Income—that is, Call Reports FFIEC 031, FFIEC 041, and FFIEC 051—for the September 30, 2021 reporting date. Except for certain institutions with foreign offices, the Call Report must be received by October 30, 2021. An institution with more than one foreign office, other than a “shell” branch or an International Banking Facility, is permitted to electronically file its data to the Central Data Repository no later than November 04, 2021.
Certain new Call Report data items take effect this quarter in the FFIEC 031 and FFIEC 041 Call Report forms. These include Call Report Schedule RC-E, Deposit Liabilities to allow evaluation of the funding stability of sweep deposits over time to determine their appropriate treatment under liquidity regulations and to allow assessment of risk factors associated with sweep deposits that may no longer be reported as brokered deposits. A new Glossary entry for “Sweep Deposits” was also added to define sweep deposits and provide more information for the new items. Beginning with the December 31, 2021 report date, FFIEC 051 filers will report these new data items semiannually on the June and December Call Report forms. The new data items include five memorandum items for sweep deposits on the three versions of the Call Report (FFIEC 031, FFIEC 041, and FFIEC 051). Four additional memorandum items for sweep deposits from retail customers or counterparties are to be completed by institutions with USD100 billion or more in total assets on the FFIEC 031 report form. Other technical clarifications made to the Call Report instruction book include the following:
- Schedule RI, Income Statement, item 5.l; Schedule RC-G, Other Liabilities, item 4; and the Glossary entry for “Capital Contributions of Cash and Notes Receivable”—clarifications related to reporting for grants received by an institution that are non-reciprocal contributions of cash from governmental or non-governmental entities and that are accounted for in accordance with or by analogy to Accounting Standards Codification Subtopic 958-605.
- Schedule RI-A, Changes in Bank Equity Capital, item 11—updates related to the reporting by a subsidiary institution for grants received at the holding company that are then transferred to a subsidiary institution.
- Schedule RC-E, Deposit Liabilities, Memorandum item 1.c—technical clarification to the deposit insurance limit.
- Glossary entry for “Premiums and Discounts”—replacement of reference to Accounting Standard Update No. 2017-08 with ASC Subtopic 310-20 and removal of related footnote.
- Glossary entry for “Trading Account”—clarifications to closer align with June 2021 edits made to the Glossary entry for “Short Position.”
In general, institutions with domestic offices only and total assets less than USD 5 billion as of June 30, 2020 were eligible to file the FFIEC 051 Call Report as of March 31, 2021, but such institutions had the option to file the FFIEC 041 Call Report instead as of that date. Institutions are expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during 2021. In the supplemental instructions, FDIC notes that the Call Report preparation software products marketed by Axiom Software Laboratories Inc, DBI Financial Systems Inc, Fed Reporter Inc, FIS Compliance Solutions, FiServ Inc, KPMG LLP, SHAZAM Core Services, Vermeg, and Wolters Kluwer Financial Services meet the technical specifications for producing Call Report data files that are able to be processed by the Central Data Repository.
Related Links
Keywords: Americas, US, Banking, Call Reports, Reporting, Basel, Sweep Deposits, FFIEC 031/041/051, FDIC
Featured Experts
Laurent Birade
Advises U.S. and Canadian financial institutions on risk and finance integration, CCAR/DFAST stress testing, IFRS9 and CECL credit loss reserving, and credit risk practices.
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Related Articles
PRA and FPC Finalize Changes to Leverage Ratio Framework in UK
The Prudential Regulation Authority (PRA) published the final policy statement PS21/21 on the leverage ratio framework in the UK. PS21/21, which sets out the final policy of both the Financial Policy Committee (FPC) and PRA
CFPB Proposes Rule on Small Business Lending Data Collection
The Consumer Financial Protection Bureau (CFPB) proposed to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) under Section 1071 of the Dodd-Frank Act.
PRA Decides to Maintain O-SII Buffers for Another Year
The Prudential Regulation Authority (PRA) decided to maintain, at the 2019 levels, the buffer rates for the Other Systemically Important Institutions (O-SII) for another year, with no new rates to be set until December 2023.
FSB Report Assesses Implementation of Recommendations on Stablecoins
The Financial Stability Board (FSB) published a progress report on implementation of its high-level recommendations for the regulation, supervision, and oversight of global stablecoin arrangements.
APRA Updates Loan Serviceability Expectations for Home Lending
In a letter to the authorized deposit taking institutions, the Australian Prudential Regulation Authority (APRA) announced an increase in the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications.
CPMI and IOSCO Consult on Guidance on Stablecoin Arrangements
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are consulting on the preliminary guidance that clarifies that stablecoin arrangements should observe international standards for payment, clearing, and settlement systems.
EBA and EIOPA Set Out Work Priorities for 2022
The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have set out their respective work priorities for 2022.
MFSA Issues Reporting Updates and Guidance for Banks
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0, in addition to the reporting module on leverage under the common reporting (COREP) framework.
EC Publishes Decision on List of Equivalent Third Countries Under CRR
The European Commission (EC) published the Implementing Decision 2021/1753 on the equivalence of supervisory and regulatory requirements of certain third countries and territories for the purposes of the treatment of exposures, in accordance with the Capital Requirements Regulation or CRR (575/2013).
EC Rule on Contractual Recognition of Write-Down and Conversion Powers
EC published the Implementing Regulation 2021/1751, which lays down implementing technical standards on uniform formats and templates for notification of determination of the impracticability of including contractual recognition of write-down and conversion powers.
