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    FDIC Issues Supplemental Instructions for Filing Call Reports

    October 04, 2021

    The Federal Deposit Insurance Corporation (FDIC) issued supplemental instructions for the Consolidated Reports of Condition and Income—that is, Call Reports FFIEC 031, FFIEC 041, and FFIEC 051—for the September 30, 2021 reporting date. Except for certain institutions with foreign offices, the Call Report must be received by October 30, 2021. An institution with more than one foreign office, other than a “shell” branch or an International Banking Facility, is permitted to electronically file its data to the Central Data Repository no later than November 04, 2021.

    Certain new Call Report data items take effect this quarter in the FFIEC 031 and FFIEC 041 Call Report forms. These include Call Report Schedule RC-E, Deposit Liabilities to allow evaluation of the funding stability of sweep deposits over time to determine their appropriate treatment under liquidity regulations and to allow assessment of risk factors associated with sweep deposits that may no longer be reported as brokered deposits. A new Glossary entry for “Sweep Deposits” was also added to define sweep deposits and provide more information for the new items. Beginning with the December 31, 2021 report date, FFIEC 051 filers will report these new data items semiannually on the June and December Call Report forms. The new data items include five memorandum items for sweep deposits on the three versions of the Call Report (FFIEC 031, FFIEC 041, and FFIEC 051). Four additional memorandum items for sweep deposits from retail customers or counterparties are to be completed by institutions with USD100 billion or more in total assets on the FFIEC 031 report form. Other technical clarifications made to the Call Report instruction book include the following:

    • Schedule RI, Income Statement, item 5.l; Schedule RC-G, Other Liabilities, item 4; and the Glossary entry for “Capital Contributions of Cash and Notes Receivable”—clarifications related to reporting for grants received by an institution that are non-reciprocal contributions of cash from governmental or non-governmental entities and that are accounted for in accordance with or by analogy to Accounting Standards Codification Subtopic 958-605.
    • Schedule RI-A, Changes in Bank Equity Capital, item 11—updates related to the reporting by a subsidiary institution for grants received at the holding company that are then transferred to a subsidiary institution.
    • Schedule RC-E, Deposit Liabilities, Memorandum item 1.c—technical clarification to the deposit insurance limit.
    • Glossary entry for “Premiums and Discounts”—replacement of reference to Accounting Standard Update No. 2017-08 with ASC Subtopic 310-20 and removal of related footnote.
    • Glossary entry for “Trading Account”—clarifications to closer align with June 2021 edits made to the Glossary entry for “Short Position.”

    In general, institutions with domestic offices only and total assets less than USD 5 billion as of June 30, 2020 were eligible to file the FFIEC 051 Call Report as of March 31, 2021, but such institutions had the option to file the FFIEC 041 Call Report instead as of that date. Institutions are expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during 2021. In the supplemental instructions, FDIC notes that the Call Report preparation software products marketed by Axiom Software Laboratories Inc, DBI Financial Systems Inc, Fed Reporter Inc, FIS Compliance Solutions, FiServ Inc, KPMG LLP, SHAZAM Core Services, Vermeg, and Wolters Kluwer Financial Services meet the technical specifications for producing Call Report data files that are able to be processed by the Central Data Repository.

     

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    Keywords: Americas, US, Banking, Call Reports, Reporting, Basel, Sweep Deposits, FFIEC 031/041/051, FDIC

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