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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-29-2014
June 5, 2014

Summary of Deposits Survey

Filing for June 30, 2014

Printable Format:

FIL-29-2014 - PDF (PDF Help)

Summary:

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July 31, 2014. No filing extensions will be granted.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter (FIL) applies to all FDIC-insured institutions.

Highlights:

Continuation of FIL-29-2014

Distribution:

Suggested Routing:

Attachment:

Contact:

Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2014/index.html.

To receive FILs electronically, please visit www.fdic.gov/about/subscriptions.

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E-1005, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

Financial Institution Letters
FIL-29-2014
June 5, 2014

Summary of Deposits Survey

Filing for June 30, 2014

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured branches of foreign banks. Institutions with branch offices are required to submit this survey to the FDIC by July 31, 2014. Institutions with only a main office are exempt; however, they will be included in the survey results based on the total deposits reported on their June Call Report. Publication of the survey data is dependent on timely and accurate filing by respondent institutions; therefore, no filing extensions will be granted.

Reporting Instructions

Comprehensive reporting instructions for the 2014 SOD survey are available on the FDIC's Summary of Deposits Web site at http://www2.fdic.gov/sod/.

2014 SOD Timeline

Prior to filing the June 30, 2014, SOD Survey – Conduct Branch Office Review: Institutions should review branch office structure information (branch office names and addresses) on the FDIC's Institution Directory Web site at http://www2.fdic.gov/idasp/index.asp. Institutions may submit corrections with the SOD survey if not submitted previously.

June 9, 2014 – Assign FDICconnect Privileges: Institutions may begin assigning SOD transaction privileges in FDICconnect to the person responsible for submitting the SOD survey.

June 16, 2014 – Update Branch Office Information Online: Institutions may begin using the "Complete the Summary of Deposits" option in FDICconnect to enter revisions to branch office structure information. Institutions using vendor software should refer to guidance provided by their software vendor on how to submit changes with the uploaded SOD survey. If your bank has had last-minute structure changes, check with your software vendor about the features that will allow your list to be synchronized with the most up-to-date location information in FDICconnect.

July 1, 2014: Institutions may begin submitting their June 30, 2014, SOD survey.

July 31, 2014: Filing deadline for 2014 Summary of Deposits.

October 3, 2014 - Survey Results Published: The FDIC will publish the survey results on the FDIC's Summary of Deposits Web site at http://www2.fdic.gov/sod/ no later than October 3, 2014. To be notified electronically when the 2014 SOD data and deposit market share reports become available, please subscribe to e-mail updates at www.fdic.gov/about/subscriptions.

Electronic Filing Options

Institutions must be registered users of FDICconnect and must assign SOD transaction privileges to the person responsible for submitting the SOD survey. New FDICconnect users must first register with FDICconnect. Refer to the attached FDICconnect and Summary of Deposits Registration Instructions for additional information.

Institutions have two options for filing electronically:

Using Vendor Software to Prepare a File for Upload to the FDIC – Institutions that use vendor software to prepare the SOD survey will be able to upload their completed survey information directly to the FDIC through FDICconnect.

The following vendors have developed software to assist with the SOD filing. Institutions should contact these vendors directly for further information about their products and services.

Axiom Software Laboratories, Inc.

(212) 248-4188

DBI Financial Systems, Inc.

(800) 774-3279

Fed Reporter, Inc.

(888) 972-3772

FIS Regulatory Reporting Solutions

(800) 825-3772

Jack Henry and Associates, Inc.

(800) 688-9191

Lombard Risk

(973) 648-0900

Wolters Kluwer Financial Services

(800) 261-3111


Using the FDIC's Interactive SOD Survey Option – The FDIC's interactive SOD survey option is designed for institutions with a small number of branch offices. This option permits an institution to print worksheets, submit revised branch office structure information with the survey, and edit SOD data in preparation for submission. Institutions may access the SOD survey site from the FDICconnect Web site at https://www2.fdicconnect.gov/.

Data Accuracy and Validation

Institutions must ensure that all information submitted for the SOD survey is accurate. The FDIC recommends that institutions submit their June 30, 2014, Call Report before filing the SOD survey to enable comparisons of deposit totals between the two reports.

Before completing the SOD survey, institutions should review their current branch office information on the FDIC's Institution Directory (ID) Web site at http://www2.fdic.gov/idasp/index.asp (or go to www.fdic.gov → Industry Analysis → Bank Data & Statistics → Institution Directory). From the ID home page, click on "Find Offices," enter the bank's certificate number or institution name, then click on "Find." The list of branch offices will be presented in state and county order.

Institutions should review the service type codes and the physical address, including the street address, city, state, zip code, and county, for all branch office locations to ensure consistency with U.S. Postal Service standards. Physical addresses, including zip codes and counties, may be verified at http://zip4.usps.com/zip4/. Institutions should not use post office boxes, mailing addresses other than the actual physical address, street names without actual numbers, intersections, or any other general locations when filing their branch office location information.

If an institution's branch office information is incorrect or incomplete, the institution should notify the FDIC with the correct branch office information.

Before June 16, 2014, institutions may e-mail corrections to the FDIC's Data Collection and Analysis Section at sod@fdic.gov. If you choose this method, then you must wait until the structure changes are reflected in the interactive filing option or request that your vendor software be synchronized with the most up-to-date information available in FDICconnect before filing your SOD survey.

Beginning June 16, 2014, corrections to structure data should be entered using the FDIC's interactive SOD survey site or vendor software and submitted with the completed SOD survey. If an institution corrects branch office information because of a merger or branch office purchase and assumption, the name, city, and state of the other institution involved in the transaction and the effective date of the transaction must be included in the e-mail notification or within the "comments" section of the survey.

Electronic Amendments

Once the initial 2014 SOD survey information has been submitted, institutions can amend 2014 deposit totals by accessing the SOD transaction within FDICconnect until September 19, 2014. Institutions that have previously filed using FDICconnect will also be able to amend 2013 deposit totals until September 19, 2014, after which no further changes to 2013 data will be permitted through this process. To submit amended data, institution users must be assigned SOD transaction privileges within FDICconnect.

Assistance

For help registering for the Summary of Deposits option within FDICconnect, contact the FDICconnect Help Desk at 1-877-275-3342 (select option 4 for the FDICconnect Help Desk). For all other questions about the SOD survey, please contact the FDIC's Data Collection and Analysis Section at 1-800-688-3342; if you know your assigned analyst's direct number, you may contact them directly. You may also request assistance by e-mail at sod@fdic.gov.

Diane Ellis
Director
Division of Insurance and Research


FDICconnect and Summary of Deposits Registration Instructions

1. Is your institution already a registered user of FDICconnect?

If yes, proceed to Step 2.

If no, please contact the FDICconnect Help Desk at 1-877-275-3342 (select option 4 for the FDICconnect Help Desk) for assistance.

2. Is the person responsible for submitting the SOD already an FDICconnect user?

If yes, proceed to Step 3.

If no, follow the instructions below:

a. Access FDICconnect at https://www2.fdicconnect.gov/.

b. Click on "User Steps to Apply" and follow the instructions to register as a new FDICconnect user.

3. Assigning SOD transaction privileges to the person responsible for submitting the SOD.

These steps must be performed by an FDICconnect coordinator at your institution:

a. Access FDICconnect at https://www2.fdicconnect.gov/.

b. Click on "Sign In" and sign in to FDICconnect using your user name and password.

c. Click on "Continue."

d. Select "Coordinator Functions" from the FDICconnect Business Center Menu.

e. Select "Manage Transactions."

f. Click on the radio button (located in the select column) next to "Summary of Deposits" and click the "Manage Transaction Users" button at the bottom of the screen.

g. Select "Execute" in the "Privileges" column next to the name of the FDICconnect user who has responsibility for SOD and click the "Update Privileges" button on the bottom of the screen.

h. Select "Menu" (located in the upper-right corner) to return to the Business Center Menu. (The blue Menu is the "Back button" for FDICconnect.) The Summary of Deposits Transaction will now appear on the user's menu.