FDIC has updated the Broker Deposits webpage with comprehensive information about changes made to the brokered deposits regulation and the interest rate restrictions, which became effective on April 01, 2021. Additionally, FDIC, in a letter to financial institutions, announced that Call Reports for the June 30, 2021 reporting date must be submitted to the Central Data Repository of the relevant US agencies by July 30, 2021, with the exception of certain institutions with foreign offices. The revised Call Reports incorporate changes related to the rules addressing FDIC assessments, brokered deposits, and sweep deposits. The supplemental instructions for Call Reports accompany the FDIC letter.
As per the letter, 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 CDR no later than, August 04, 2021. USO May 24, 2021, US Agencies had published, in the Federal Register, the final regulatory reporting changes related to FDIC assessments, brokered deposits, and sweep deposits that apply to all three versions of the Call Reports. The changes to Call Reports allow FDIC to implement its recently proposed amendments to the deposit insurance assessment system that are applicable to large and highly complex insured depository institutions and became effective as of the June 30, 2021 report date. Also included in the Federal Register notice were revisions reflecting the intent stated in the Net Stable Funding Ratio Final Rule and in the Final Rule on Brokered Deposits and Interest Rate Restrictions. The reporting changes affecting the definition of brokered deposits in the form instructions and Glossary became effective as of the June 30, 2021 report date, while the reporting changes to the Call Report that relate to sweep deposits on Schedule RC-E, Deposit Liabilities will become effective as of the September 30, 2021 report date.
- FDIC Letter
- FFIEC 031 Form (PDF)
- FFIEC 041 Form (PDF)
- FFIEC 051 Form (PDF)
- Supplemental Instructions (PDF)
- FFIEC Reporting Forms
- Update on Brokered Deposits
Keywords: Americas, US, Banking, Reporting, Call Reports, Brokered Deposits, FFIEC 031, FFIEC 041, FFIEC 051, NSFR, Interest Rate Restrictions, FDIC Assessments, FFIEC, FDIC
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