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.
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Previous Article
FASB Proposes Improvements to 2020 US GAAP Reporting TaxonomyRelated Articles
BCBS Amends Capital Treatment of Non-Performing Loan Securitizations
BCBS published a technical amendment to the capital treatment of securitizations of non-performing loans by banks.
BoE to Move Statistical Data Collection to BEEDs Portal
BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal.
APRA Updates Reporting Standards and Guidance for EFS Data Collection
APRA published the updated reporting standards and guidance for the collection of Economic and Financial Statistics (EFS), following a consultation process. Also published was a response letter to the feedback received on the proposal for amending the EFS reporting standards and guidance.
EC Consults on Criteria for Environmentally Sustainable Activities
EC is consulting on a draft delegated regulation to supplement the Taxonomy Regulation (2020/852) by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as environmentally sustainable.
IFRS Examines Incorporation of Climate Risk Issues into IFRS Standards
The IFRS Foundation published material highlighting the ways in which existing requirements in IFRS standards require companies to consider climate-related matters when their effect is material to the financial statements.
EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB Begins First Phase of Post-Implementation Review of IFRS 9
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB Report Examines Progress in Resolvability of Systemic Institutions
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA Benchmarks National Insolvency Frameworks Across EU
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
