Revisions to the Consolidated Reports of Condition and Income (Call Report) for March and June 2018

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FDIC Financial Institution Letters › Revisions to the Consolidated Reports of Condition and Income (Call Report) for March and June 2018

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Financial Institution Letter

FIL-4-2018

January 5, 2018

REVISIONS TO THE CONSOLIDATED REPORTS OF CONDITION

AND INCOME (CALL REPORT) FOR MARCH AND JUNE 2018

Summary: As part of their ongoing efforts to ease reporting requirements and lessen reporting burden,

particularly for small institutions, the federal banking agencies, under the auspices of the Federal Financial

Institutions Examination Council (FFIEC), have finalized additional burden-reducing revisions that will be made

to all three versions of the Call Report effective June 30, 2018. Call Report revisions to address changes in the

accounting for equity securities and other equity investments will take effect March 31, 2018. These revised Call

Report requirements, which were issued for comment in June 2017, are subject to approval by the U.S. Office of

Management and Budget.

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter

applies to all FDIC-supervised banks and savings associations, including community institutions.

Distribution:

FDIC-Supervised Banks (Commercial and Savings)

and FDIC-Supervised Savings Associations

Highlights:

• The burden-reducing changes being implemented by the

agencies apply to the new FFIEC 051 Call Report as well as

the FFIEC 041 and FFIEC 031 Call Reports.

o These revisions will take effect as of the June 30, 2018,

report date, which is the proposed effective date of further

burden-reducing Call Report revisions about which the

agencies recently requested comment (see FIL-57-2017,

dated November 8, 2017).

o For small institutions filing the FFIEC 051, the reporting

changes will affect approximately seven percent of the

data items collected.

• Revisions will be made to several Call Report schedules as of

March 31, 2018, in response to changes in the accounting for

equity securities and other equity investments that take effect

for some institutions in the first quarter of 2018

8, 2017).

o For small institutions filing the FFIEC 051, the reporting

changes will affect approximately seven percent of the

data items collected.

• Revisions will be made to several Call Report schedules as of

March 31, 2018, in response to changes in the accounting for

equity securities and other equity investments that take effect

for some institutions in the first quarter of 2018.

• The agencies’ June 2017 proposal also included an

instructional revision for determining past-due status for

regulatory reporting purposes. Based on the comments

received on this aspect of the proposal, the agencies are not

introducing this proposed instructional revision at this time.

• Redlined copies of the FFIEC 051, FFIEC 041, and

FFIEC 031 report forms showing the Call Report revisions

and the related draft instructions are available on the FFIEC’s

website (https://www.ffiec.gov/ffiec_report_forms.htm). This

website also includes draft revised instructions to implement

the agencies’ regulatory capital transitions final rule in the

Call Report for March 31, 2018 (see FIL-60-2017, dated

November 21, 2017).

• Institutions should review FIL-2-2018 for further information

about the revisions to the Call Report requirements.

Suggested Routing:

Chief Financial Officer

Chief Accounting Officer

Call Report Preparer