Featured Product

    FDIC Specifies Submission Timeline for FFIEC 031, 041, and 051 Reports

    FDIC published the financial institution letters (FIL-21-2019 and FIL-22-2019) that offer guidance on submission of Call Reports FFIEC 051, FFIEC 041, and FFIEC 031 for the first quarter of 2019. Reporting under these Call Reports comes under the purview of the three US Agencies: FDIC, FED, and OCC. The letter states that the Call Report for the March 31, 2019 report date must be submitted to the Central Data Repository (CDR) of the US Agencies by April 30, 2019. Certain institutions with foreign offices have five additional calendar days to file their reports. Additionally, supplemental instructions for March 2019 have been released for guidance on reporting issues.

    Eligible small institutions, generally those with domestic offices only and total assets less than USD 1 billion as of June 30, 2018, have the option to file the FFIEC 051 or the FFIEC 041 Call Report as of the March 31, 2019 report date. Such institutions are expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during 2019. The US Agencies are revising several Call Report schedules this quarter, in response to the new accounting standard on credit losses. The changes to the Call Report also implement the agencies' recent revisions to the regulatory capital rules, which include a regulatory capital transition for the effects of the initial adoption of the current expected credit losses (CECL) methodology in ASU 2016-13, which is the Accounting Standards Update issued by FASB to implement the IFRS 9 equivalent regime in United States. Since ASU 2016-13 has different effective dates for different institutions and permits early adoption in 2019, the changes to the Call Report related to credit losses will be phased in between March 31, 2019 and December 31, 2022. 

    Furthermore, the US Agencies continue to consider the comments received on a proposal to reduce reporting for certain institutions with less than USD 5 billion in total assets in the Call Report (in FIL 74-2018, dated November 19, 2018). The proposal includes revisions to the FFIEC 051 reporting requirements that, if finalized, would take effect no earlier than September 30, 2019.

     

    Related Links

    Keywords: Americas, US, Banking, Call Reports, FFIEC 031, FFIEC 041, FFIEC 051, Reporting, Supplemental Instructions, CECL, IFRS 9, US Agencies

    Featured Experts
    Related Articles
    News

    EC Regulation Sets Out Standards for Reporting and Disclosure of MREL

    EC published the Implementing Regulation 2021/763 that lays down implementing technical standards for supervisory reporting and public disclosure of the minimum requirement for own funds and eligible liabilities (MREL).

    May 12, 2021 WebPage Regulatory News
    News

    EBA Report Notes Loan Origination Should Remain in Supervisory Focus

    EBA published a report that examines the convergence of prudential supervisory practices in 2020 and offers conclusions of the EBA college monitoring activity.

    May 12, 2021 WebPage Regulatory News
    News

    APRA Decides to Standardize Submission Date for Quarterly Reporting

    APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.

    May 11, 2021 WebPage Regulatory News
    News

    ECB Working Group Publishes Recommendations on EURIBOR Fallbacks

    The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).

    May 11, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Supporting Documentation for Reporting by Banks

    Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.

    May 11, 2021 WebPage Regulatory News
    News

    EBA Publishes Phase 1 of Reporting Framework 3.1

    EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).

    May 10, 2021 WebPage Regulatory News
    News

    IOSCO Sees Support for Mandatory Sustainability Reporting

    The Sustainable Finance Taskforce of IOSCO held two roundtables, with global stakeholders, on the IOSCO priorities to enhance the reliability, comparability, and consistency of sustainability-related disclosures and to collect views on the practical implementation of a global system architecture for these disclosures.

    May 10, 2021 WebPage Regulatory News
    News

    APRA to Finalize Capital Adequacy Standard Revisions by January 2022

    Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA

    May 10, 2021 WebPage Regulatory News
    News

    ESMA Issues Guidelines on Outsourcing to Cloud Service Providers

    ESMA published the final guidelines on outsourcing to cloud service providers.

    May 10, 2021 WebPage Regulatory News
    News

    EBA Publishes Data on Deposit Guarantee Schemes

    EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.

    May 10, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6967