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Wednesday, July 6, 2016

FFIEC Reduces Call Report Burden

As part of its community bank Call Report burden-reduction initiative, the FFIEC has approved a number of burden-reducing changes to the Consolidated Reports of Condition and Income (Call Report) as well as certain new and revised data items and instructional revisions. Call report revisions include the deletion of certain existing data items in five schedules; increases in existing reporting thresholds and the establishment of a new threshold for certain data items in six call report schedules; and instructional revisions pertaining to the reporting of gains or losses on certain equity securities and the custodial bank deduction for assessment purposes.

Furthermore, the FFIEC has approved new and revised data items and information, some of which are of limited applicability. These revisions involve CEO contact information, the Legal Entity Identifier, preprinted captions for itemizing components of certain data items, extraordinary items, time deposit data, external auditing programs, fair value option loans, trading revenue, “dually payable” deposits in foreign branches and supplementary leverage ratio data.

The changes apply to all FDIC-supervised commercial and savings banks, including community banks. Subject to approval by the U.S. OMB, these Call Report revisions will take effect September 30, 2016, or March 31, 2017, depending on the change. The FFIEC and the agencies have considered options for further streamlining the call report for community institutions. Publication of a proposal for further changes is anticipated later in 2016.

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