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    US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C

    January 15, 2021

    FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies. Additionally, FDIC announced that, except for certain institutions with foreign offices, the completed Call Reports for the December 30, 2020 reporting date must be received by January 30, 2021. 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 its Call Report data. Such an institution must electronically file its data to the Central Data Repository no later than on February 04, 2021. FDIC also published the supplemental reporting instructions, including the COVID-19-related supplemental instructions for Call Reports and Form FFIEC 101.

    FFIEC had previously advised that the agencies have finalized revisions to the Call Reports and the FFIEC 101 report associated with several capital-related and other interim final rules; the revisions include those for a final rule issued by one or all of the agencies, from March through June 2020, in response to the impact on the financial markets and strains on the U.S. economy as a result of the COVID-19 event. These revisions also resulted from certain provisions of the 2020 Coronavirus Aid, Relief, and Economic Security Act, which has been amended by the Consolidated Appropriations Act, 2021, that was enacted into law on December 27, 2020. Institutions should refer to the attached separate standalone December 2020 COVID-19 Related Supplemental Instructions for the Call Reports and the FFIEC 101 addressing these applicable capital-related and other reporting revisions, which update the September 2020 versions of these Supplemental Instructions. 

    Earlier, FFIEC had also announced that the agencies recently issued an interim final rule providing relief to financial institutions with under USD 10 billion in total assets as of December 31, 2019, by allowing them to calculate their asset size for applicable thresholds in certain rules during calendar years 2020 and 2021 based on the lower of total assets as of December 31, 2019, or as of the normal measurement date. In particular, the interim final rule allows institutions that temporarily exceed the USD 10 billion total asset threshold to use the community bank leverage ratio framework in the Call Report Schedule RC-R from December 31, 2020, through December 31, 2021, provided they meet the other qualifying criteria for this framework. For each of these report dates, an institution would use the lesser of its total assets as of December 31, 2019, or as of the current quarter-end report date to determine whether it has met the USD 10 billion total asset threshold. Institutions should refer to the attached Supplemental Instructions for guidance on certain reporting issues. Institutions are urged to notify the individual responsible for preparing the Call Report at their institution about the electronic availability of the report forms, instruction book updates, standalone instructions for the COVID-19-related Call Report revisions, and Supplemental Instructions for December 2020.

     

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    Keywords: Americas, US, Banking, COVID-19, FR Y-9C, Call Reports, FFIEC 101, CARES Act, Reporting, FED, FDIC

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