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Financial Institution Letters

Summary of Deposits Survey
Filing for June 30, 2010
FIL-28-2010
June 4, 2010


Summary: The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured commercial banks, FDIC-supervised savings banks, and insured branches of foreign banks. Institutions with branch offices are required to submit this survey to the FDIC by July 30, 2010. Institutions with only a main office are exempt. No filing extensions will be granted.

Highlights:
  • New for 2010:
    • Institutions using vendor software or the FDIC's interactive SOD survey feature must register for the Summary of Deposits option in FDICconnect to submit their survey. Refer to the attached FDICconnect and Summary of Deposits Registration Instructions for additional information.
  • Software vendors available to assist with the SOD filing are listed on page 3.
  • Institutions may continue to use the FDIC's interactive SOD survey site but must be registered through FDICconnect for the SOD module. This option is best suited for institutions with fewer than 10 branches.
  • Institutions should review their current branch information on the FDIC's Institution Directory Web site at http://www2.fdic.gov/idasp/index.asp before completing the survey. If not addressed previously, branch information corrections may be submitted with the SOD survey.
  • Instructions, survey results, market share reports, contact information, survey facsimiles and access to FDICconnect are available through the FDIC's Summary of Deposits Web site at http://www2.fdic.gov/sod/.

Continuation of FIL-28-2010

Distribution:
Insured Commercial Banks, FDIC-Supervised Savings Banks, and Insured U.S. Branches of Foreign Banks

Suggested Routing:
Chief Executive Officer
Summary of Deposits Preparer

Related Topics:
FIL-53-2004 - FDIC Encourages Institutions to Register for FDICconnect
FIL-93-2003 - FDIC Announces the Availability of FDICconnect

Attachment:
FDICconnect and Summary of Deposits Registration Instructions

Contact:
General Questions: Data Collection and Analysis Section at sod@fdic.gov or 1-800-688-3342
FDICconnect Technical Questions: FDICconnect Help Desk at fdicconnect@fdic.gov or 1-877-275-3342 (select option 5 on the banker's menu) .

Printable Format:
FIL-28-2010 - PDF (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2010/index.html.

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

Paper copies of FDIC financial institution letters 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) or visit www.fdic.gov/news/publications/PIChardcopies.html.



Financial Institution Letters
FIL-28-2010
June 4, 2010

Summary of Deposits Survey
Filing for June 30, 2010

The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured commercial banks, FDIC-supervised savings banks, and insured branches of foreign banks. Institutions with branch offices are required to submit this survey to the FDIC by July 30, 2010. Institutions with only a main office are exempt; however, they will be included in the survey results based on the 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.

2010 Timeline

Prior to June 2010Banks should be reviewing their branch structural information and should e-mail the FDIC with any revisions to SOD@fdic.gov.

June 4, 2010Institutions may begin assigning SOD transaction privileges in FDICconnect to the person responsible for submitting the SOD.

June 16, 2010 – Institutions may begin using the Complete the Summary of Deposits option in FDICconnect to enter revisions to branch structure information (branch names and addresses). Institutions using vendor software should refer to guidance provided by their software vendor on how to submit changes with the uploaded Summary of Deposits survey. If your bank has had last-minute structural changes, check with your software vendor about new features that will allow your list to be synchronized with the latest location information in FDICconnect.

July 1, 2010Institutions may begin submitting their June 30, 2010, SOD survey.

July 30, 2010 – Filing deadline (no extensions will be granted).

October 15, 2010 − The FDIC will make every effort to promptly publish the survey results for the public through the FDIC's Summary of Deposits Web site at http://www2.fdic.gov/sod/, but will do so no later than October 15th.

To be notified electronically when the 2010 Summary of Deposit 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. 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 and should be contacted directly for further information about their products and services:

DBI Financial Systems, Inc. (800) 774-3279
Fidelity Regulatory Solutions (800) 825-3772, Ext. 216 or 220
FRS Global (978) 698-7200
Jack Henry and Associates, Inc. (800) 688-9191
Sofgen Americas, Inc. (973) 648-0900
Axiom XL (212) 248-4188

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 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 Call Report before filing the SOD survey to enable deposit total comparisons between the two reports.

Institutions should review the service type codes and the physical address, including the street address, city, state, zip code and county, for all office locations to ensure consistency with United States Postal Service standards. Physical addresses and zip codes 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.

To help ensure the accuracy of reported branch office information in the SOD survey, before completing the survey institutions should review their current branch 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. If an institution's branch office information is incorrect, the institution should notify the FDIC with the correct branch structure information.

Prior to June 16, 2010, institutions may e-mail corrections to the FDIC's Data Collection and Analysis Section at sod@fdic.gov. Beginning June 16, 2010, corrections 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 purchase and assumption, the name, city and state of the other institution involved in the transaction and the effective date must be included in the e-mail notification or within the "comments" section of the survey.

Electronic Amendments

Once the initial 2010 survey information has been submitted, institutions can amend deposit totals by accessing the SOD transaction within FDICconnect. Institutions will also be able to amend 2009 deposit totals until October 8, 2010, after which no further changes to 2009 data will be permitted through this process. To submit amended data, institution users must be assigned SOD transaction privileges within FDICconnect.

Assistance

For assistance on how to register for the Summary of Deposits option within FDICconnect, contact the FDICconnect help desk at 1-877-275-3342 (select option 5 on the banker's menu). For all other questions about the SOD survey, please contact the FDIC's Data Collection and Analysis Section at 1-800-688-3342 or e-mail sod@fdic.gov.

Arthur J. Murton
Director
Division of Insurance and Research



Last Updated 6/4/2010 communications@fdic.gov