US Agencies Propose to Revise FFIEC Call Reports and FFIEC 101 Report
US Agencies (FDIC, FED, and OCC) proposed to revise and extend for three years the call reports FFIEC 031, FFIEC 041, FFEIC 051, and FFIEC 101. In addition, FED separately plans to propose the corresponding revisions to the Consolidated Financial Statements for Holding Companies (FR Y-9C). Comments on the consultation must be submitted on or before December 03, 2019. The agencies invite comment on any difficulties that institutions would expect to encounter in implementing the systems changes necessary to accommodate the proposed revisions to the Call Reports and the FFIEC 101 report or the minimum time required to make systems changes to implement these changes.
FFIEC 031 refers to the consolidated reports of condition and income for a bank with domestic and foreign offices, FFIEC 041 refers to the consolidated reports of condition and income for a bank with domestic offices only, FFIEC 051 refers to the consolidated reports of condition and income for a bank with domestic offices only and total assets less than USD 5 billion, and FFIEC 101 is the form on regulatory capital reporting for institutions subject to the advanced capital adequacy framework. The proposed revisions to the Call Reports and the FFIEC 101 report would implement various changes to the agencies' capital rule that the agencies have finalized or are considering finalizing. The following key revisions are being proposed:
- A change in the scope of the FFIEC 031 Call Report as well as an instructional revision for the reporting of operating lease liabilities in the Call Reports, both of which would take effect March 31, 2020
- A Call Report instructional revision for home equity lines of credit that convert from revolving to non-revolving status would also take effect from March 31, 2021
- Changes to Call Report Schedule RC-R, Part I Re,gulatory Capital Components and Ratios and FFIEC 101 Schedule A, Advanced Approaches Regulatory Capital
- Revisions to the instructions for Call Report Schedule RC-R, Part II, as well as to SLR Table 2 in FFIEC 101 Schedule A, to implement the proposed changes to the calculation of the exposure amount of derivative contracts under the agencies' capital rule, to provide clarification for institutions subject to Category III capital standards.
- Revisions to the Call Reports for banks that qualify for and opt into the Community Bank Leverage Ratio (CBLR) framework, consistent with the planned CBLR final rule. The reporting changes to the Call Reports proposed in the notice would take effect in the same quarter as the effective date of the planned final rule adopting the CBLR framework.
- Amendments to certain regulatory reports to clarify the reporting requirements for the institutions that would be subject to the domestic interagency tailoring and foreign interagency tailoring proposed rules issued in December 2018 and May 2019, respectively.
Related Link: Federal Register Notice
Comment Due Date: December 03, 2019
Keywords: Americas, US, Banking, Reporting, FFIEC 031, FFIEC 041, FFIEC 051, Call Reports, FFIEC 101, CBLR Framework, TLAC, Regulatory Capital, US Agencies
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Patrycja Oleksza
Applies proficiency and knowledge to regulatory capital and reporting analysis and coordinates business and product strategies in the banking technology area
Previous Article
SEC Adopts Revisions to the EDGAR Filer Manual and Related RulesRelated Articles
APRA Sets LAC for D-SIBs, Proposes to Enhance Crisis Preparedness
APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).
EC to Review Macro-Prudential Rules while ESRB Assesses Policy Stance
The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).
FSB Sets Out Good Practices for Crisis Management Groups
The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.
APRA Penalizes Heritage Bank for Incorrect Reporting of Capital
The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.
OSFI Releases Annual Report 2021-2022
The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.
OSFI Updates Timeline for Implementation of Certain Basel Rules
Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.
EC Defers Adoption of Regulatory Standards for Disclosures Under SFDR
EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.
FCA Releases MIFIDPRU Application Forms and Third Set of Rules on IFPR
The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.
APRA Finalizes Capital Adequacy Standards for Banks
The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.
CPMI-IOSCO Seek Comments on Access to Central Clearing and Portability
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.
