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Financial Institution Letter

Proposed Revisions to the Consolidated Reports of Condition and Income (Call Report) Related to the Agencies’ Regulatory Capital Proposal

January 31, 2024  |  FIL-3-2024

Summary:

As described more fully in the attached Federal Register notice, the proposed revisions to the Call Report forms and instructions would:

  1. Revise the FFIEC 041 and FFIEC 051, Schedule RC–R, Part I, to remove items that are no longer relevant and make other technical edits;
  2. Revise the FFIEC 031 instructions to require all banks subject to the expanded risk–based approach under the proposed capital rule to file the FFIEC 031; and
  3. Revise the FFIEC 031, Schedule RC–R, Part I, Regulatory Capital Components and Ratios, to align the calculation of regulatory capital for institutions subject to Category III or Category IV standards with the calculation used for institutions subject to Category I and Category II standards.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC–insured financial institutions.

On January 26, 2024, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (collectively, the agencies), under the auspices of the Federal Financial Institutions Examination Council (FFIEC), published in the Federal Register a proposal to revise certain FFIEC reports, including the Call Report, consistent with proposed changes to the agencies’ regulatory capital rule published by the agencies in the Federal Register on September 18, 2023 (proposed capital rule). The comment period for the proposed capital rule ended on January 16, 2024. The agencies are proposing substantive changes for banks currently filing the FFIEC 031 or banks that would be subject to the expanded risk-based approach under the proposed capital rule, and only making technical revisions to the FFIEC 041 and FFIEC 051.

As described more fully in the attached Federal Register notice, the proposed revisions to the Call Report forms and instructions would:

  1. Revise the FFIEC 041 and FFIEC 051, Schedule RC-R, Part I, to remove items that are no longer relevant and make other technical edits;
  2. Revise the FFIEC 031 instructions to require all banks subject to the expanded risk–based approach under the proposed capital rule to file the FFIEC 031; and
  3. Revise the FFIEC 031, Schedule RC–R, Part I, Regulatory Capital Components and Ratios, to align the calculation of regulatory capital for institutions subject to Category III or Category IV standards with the calculation used for institutions subject to Category I and Category II standards.

The agencies propose to make these reporting changes effective for the third quarter of 2025 (as of the September 30, 2025, report date), consistent with the proposed July 1, 2025, effective date for the proposed capital rule.  For modifications made to the proposed capital rule when the rule is adopted in final form, the agencies would modify the Call Report proposal to incorporate such changes.

The agencies encourage you to review the proposed regulatory reporting revisions and comment on those aspects of interest to you. You may send comments on this reporting proposal to any or all of the agencies by the methods described in the attached Federal Register notice.  Comments must be submitted by March 26, 2024. 

Redlined copies of the FFIEC 031, FFIEC 041, and FFIEC 051 Call Report forms showing the proposed changes and the related draft reporting instructions will be available on the FFIEC’s webpages for these reports, which can be accessed from the FFIEC’s Reporting Forms webpage.

Please share this letter with individuals responsible for preparing Call Reports at your institution. For further information about the proposed Call Report changes, institutions should contact their assigned Call Report analyst. If you do not know the analyst assigned to your institution, state member institutions should contact their Federal Reserve District Bank, while national institutions, FDIC–supervised banks, and savings associations should contact the FDIC’s Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688-FDIC (3342) or email to FDICInfoReq@fdic.gov.

signed by
Judith E. Dupré
Executive Secretary

Related Topic:

Accounting