US Agencies to Revise Call Reports, FFIEC 002, and FFIEC 002S
US Agencies (FDIC, FED, and OCC) published the Federal Register notice on changes to the Call Reports FFIEC 031, FFIEC 041, and FFIEC 051 for banks. The notice also covers changes to the FFIEC 002 and FFIEC 002S reports, which cover data on assets and liabilities of U.S. branches and certain non-US branches (respectively) of foreign banks. The changes are with respect to the deposit insurance assessments, brokered deposits, and sweep deposits, the proposals for which were issued on December 18, 2021 (for deposit assessments) and February 05, 2021 (for brokered and sweep deposits). After considering comments received on the proposals, the agencies are proceeding with the proposed revisions to the reporting forms and instructions related to the FDIC amendments to the deposit insurance assessment system, effective from the June 30, 2021 reporting date. Additionally, the changes with respect to the exclusion of sweep deposits and certain other deposits from reporting as brokered deposits will be effective with the September 30, 2021 reporting date. The US Agencies plan to submit to OMB a request to approve the revision and extension of these information collections, with the comment period on this Federal Register notice ending on June 23, 2021.
After considering the one comment received on the assessments proposal form December 18, 2021, FDIC is proceeding with this proposal as it is. These changes to the Call Report would allow FDIC to implement its recently proposed amendments to the deposit insurance assessment system applicable to large and highly complex insured depository institutions. The amendments to the assessment system remove the “double counting” of a specified portion of the current expected credit loss (CECL) accounting standard transitional amount or the modified CECL transition amount (as applicable) in certain financial measures that are calculated using the sum of tier 1 capital and reserves and that are used to determine assessment rates for large and highly complex insured depository institutions. These measures are used to determine assessment rates for large and highly complex institutions.
One comment letter was also received for the February 2021 proposal on brokered and sweep deposits. The February proposal contained revisions to the reporting forms and instructions for the Call Reports and FFIEC 002 that would allow evaluation of the funding stability of sweep deposits over time to determine their appropriate treatment under liquidity regulations and assessment of the risk factors associated with sweep deposits that may no longer be reported as brokered deposits. After considering the comment letter, the US Agencies are proceeding with the proposed revisions to the reporting forms and instructions for the Call Report, with certain technical modifications, as described in the attached Federal Register notice. The revisions reflect the intent stated in the Net Stable Funding Ratio Final Rule (dated October 20, 2020) and in the Final Rule on Brokered Deposits and Interest Rate Restrictions (dated December 15, 2020). To allow institutions time to implement reporting changes to the Call Report related to sweep deposits on Schedule RC-E, Deposit Liabilities, the US Agencies would delay the implementation date for this reporting until the September 30, 2021 reporting date. Redlined copies of the FFIEC 031, FFIEC 041, and FFIEC 051 Call Report forms showing the proposed changes and the related draft reporting instructions are expected to be available on the FFIEC webpages for these reports
- FDIC Letter
- Federal Register Notice
- FFIEC 031 Form and Instructions
- FFIEC 041 Form and Instructions
- FFIEC 051 Form and Instructions
Comment Due Date: June 23, 2021
Keywords: Americas, US, Banking, Reporting, FFIEC 002, Basel, Call Reports, FFIEC 031/041/051, NSFR, Liquidity Risk, CECL, Brokered Deposits, Regulatory Capital, Foreign Banks, FDIC, US Agencies
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Senior practitioner in asset and liability management (ALM) and liquidity risk who assists banking clients in advancing their treasury and balance sheet management objectives
Previous ArticleESMA Publishes Final Draft of Regulatory Technical Standards on ESEF
Next ArticleESMA Publishes Call for Evidence on Digital Finance
OSFI Finalizes on Climate Risk Guideline, Issues Other Updates
The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.
BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending
BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.
HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks
The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.
BCBS Report Examines Impact of Basel III Framework for Banks
The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.
PRA Consults on Prudential Rules for "Simpler-Regime" Firms
Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.
DNB Publishes Multiple Reporting Updates for Banks
DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.
NBB Sets Out Climate Risk Expectations, Issues Reporting Updates
The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting
EBA Updates Address Securitization Standards and DGS Guidelines
The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.
FSB Publishes Letter to G20, Sets Out Work Priorities for 2023
The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023
ISSB Standards May Become Effective from January 2024
The International Organization of Securities Commissions (IOSCO) welcomed the confirmation statement by the International Sustainability Standards Board (ISSB) setting out its progress in the development of its first sustainability-related corporate disclosure standards.