Featured Product

    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.

     

    Related Links

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

    Featured Experts
    Related Articles
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.

    May 12, 2022 WebPage Regulatory News
    News

    EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA

    The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.

    May 11, 2022 WebPage Regulatory News
    News

    EC Mandates ESAs to Propose Amendments to SFDR Technical Standards

    The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.

    May 11, 2022 WebPage Regulatory News
    News

    EBA Examines Supervisory Practices, Issues Deposits Reporting Template

    The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),

    May 11, 2022 WebPage Regulatory News
    News

    SNB Updates NSFR Forms and FINMA Consults on Operational Risk Circular

    The Swiss National Bank (SNB) published Version 1.2 of the reporting forms (NSFR_G and NSFR_P) on the net stable funding ratio (NSFR) of banks, along with the associated documentation.

    May 10, 2022 WebPage Regulatory News
    News

    US Agency Publications Address Basel, Reporting, and CECL Developments

    The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances

    May 09, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8191