FDIC Letter on Submission of Call Reports by End of October 2019
FDIC, in a letter to financial institutions, announced that the Consolidated Reports of Condition and Income (Call Reports) for the September 30, 2019 report date must be submitted to the agencies' Central Data Repository by October 30, 2019. An institution with more than one foreign office, other than a “shell” branch or an International Banking Facility, is permitted an additional five calendar days to submit the Call Report data. Such an institution must electronically file its data to the Central Data Repository no later than November 04, 2019. The Call Report forms for the third quarter of 2019 are available through the FFIEC and the FDIC websites.
In a final rule that took effect on July 22, 2019, the banking agencies have expanded eligibility to file the FFIEC 051 Call Report to institutions with total assets less than USD 5 billion that also meet certain non-asset-size criteria. In conjunction with the expanded FFIEC 051 filing eligibility, the agencies have:
- Reduced the reporting frequency for a number of existing data items in the FFIEC 051 Call Report from quarterly to semiannually, which further streamlines the report in the first and third quarters by increasing the number of FFIEC 051 data items for which semiannual reporting will apply
- Incorporated a limited number of data items currently reported in the FFIEC 041 Call Report into the FFIEC 051 Call Report, generally with a reduced reporting frequency. These data items are applicable only to certain institutions with USD 1 billion or more in total assets.
An eligible institution may choose to begin filing the FFIEC 051 Call Report beginning as of September 30, 2019, or it may wait to do so until the December 31, 2019 report date. Beginning as of either September 30 or December 31, 2019, the option to file the FFIEC 051 Call Report is also available to institutions that reported total assets less than USD 1 billion as of June 30, 2018 and meet the other eligibility criteria, but filed the FFIEC 041 Call Report for the first and second quarters of 2019. No new or revised data items take effect this quarter in the FFIEC 041 and FFIEC 031 Call Reports. Separate updates to the instruction book for the FFIEC 051 Call Report and the instruction book for the FFIEC 031 and FFIEC 041 Call Reports for third quarter 2019 are available on FFIEC and FDIC websites. Institutions should refer to the interagency Financial Institution Letter (55-2019) and the accompanying Supplemental Instructions for September 2019 for guidance on certain reporting issues.
Related Links
- Financial Institution Letter (58-2019)
- Financial Institution Letter (55-2019)
- Supplementary Instructions (PDF)
- Final Rule on Reduced Reporting (PDF)
Keywords: Americas, US, Banking, Submission TimeLine, FFIEC 031, FFIEC 041, FFIEC 051, Reporting, Call Reports, Supplementary Instructions, FFIEC, FDIC, US Agencies
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
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
EC Consults on Review of Regulation on Financial Benchmark IndicesRelated Articles
PRA Publishes Q&A on Property Valuation Requirements Under CRR
PRA published a set of questions and answers (Q&A) covering common queries regarding residential and commercial property valuations, for the purpose of the Capital Requirements Regulation (CRR), during the period of disruption caused by COVID-19 pandemic.
IOSCO Consults on Outsourcing Principles for Operational Resilience
IOSCO proposed updates to its principles for regulated entities that outsource tasks to service providers.
MAS Consortium to Develop AI Fairness Metrics for Credit Scoring
MAS announced that the first phase of the Veritas initiative will commence with the development of fairness metrics in credit risk scoring and customer marketing.
BoE Updates Definitions for BTL Data Collection
BoE published the Statistical Notice 2020/4 to update the buy-to-let (BTL) Phase 2 and Phase 3 definitions for the Interest Rate Type data item.
FSI Examines Financial Stability Implications of Payment Deferrals
FSI published a brief note that examines challenges facing the banking sector as a result of the payment deferral programs put in place to support borrowers affected by the COVID-19 pandemic.
PRA Finalizes Policy on Prudent Person Principle Under Solvency II
PRA published the policy statement PS14/20, which contains the supervisory statement SS1/20 and the feedback to responses to the consultation paper CP22/19 on expectations for investment by firms in accordance with the Prudent Person Principle, or PPP, as set out in the Investments Part of the PRA Rulebook.
EBA on Extending Large Exposure Limits for French Systemic Banks
EBA published an opinion following the notification by the French macro-prudential authority, the Haut Conseil de Stabilité Financière (HCSF), of its intention to extend a measure introduced in 2018 on the use of Article 458(9) of the Capital Requirements Regulation (CRR).
ECB Highlights NPL Resolution as Key Policy Issue in Post-COVID Europe
As part of a Research Bulletin on the recent policy-relevant work, ECB published an article that examines the lessons learned from past crises for nonperforming loan resolution in the post COVID-19 period.
RBNZ Publishes Financial Stability Report for May 2020
RBNZ published the financial stability report for May 2020. This review of the financial system in the country highlights that the economic disruption associated with COVID-19 will present challenges to the financial system.
ECB Updates Guidance on Reporting of Securities Holdings Statistics
ECB updated the guidance notes for reporting related to the statistics on holdings of securities by reporting banking groups (SHSG).
