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Inactive Financial Institution Letters |
Bank Reports |
FIL-27-97
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The enclosed materials pertain to the Reports of Condition and Income (Call
Reports) for March 31,
1997. The first quarter Call Reports should be completed and submitted as soon
as possible.
However, completed original reports must be received by the FDIC (for national
and FDIC-
supervised banks), the appropriate Federal Reserve District Bank (for state
member banks), or the
banking agencies' electronic collection agent by April 30, 1997.
The filing of a Call Report will be considered timely, regardless of
when it is received, if it is mailed
first class, properly addressed, and postmarked not later than April 27,
1997, or if it is entered into
an overnight delivery system for the proper destination on or before
April 29, 1997. No extensions
of time for submitting reports are granted. In the absence of a
postmark, a bank whose original
Call Report is received late by the FDIC (at its data entry site in
Crofton, Maryland) or the
appropriate Federal Reserve District Bank may be called upon to provide
proof of timely mailing.
A "Certificate of Mailing" (U.S. Postal Service Form 3817) may be used
as proof.
Alternatively, banks that use Call Report preparation software
to complete their reports are
encouraged to submit their Call Reports electronically to
Electronic Data Systems Corporation (EDS),
the banking agencies' collection agent. Reports submitted
electronically over telephone lines will be
considered timely if transmitted to EDS by April 30, 1997. Banks
filing their Call Reports
electronically should not mail hard copies of the Call Report to
any federal bank supervisory agency
unless specifically requested to do so.
Banks that have or have had more than one foreign
office, other than a "shell" branch or an
International Banking Facility, and that use any of the
additional 15 days allowed for the completion
of their reports, are required to submit their reports
electronically to EDS not later than May 15,
1997.
As you were previously advised (see FIL-109-96,
dated December 31, 1996), the Federal Financial
Institutions Examination Council (FFIEC) has
adopted generally accepted accounting principles
(GAAP) as the reporting basis for the balance
sheet, income statement, and related schedules
in the
Call Report, effective this quarter. The
enclosed update to your Call Report instruction
book
eliminates previous instructions that differed
from GAAP, but also retains certain specific
reporting
guidance that falls within the range of
acceptable practice under GAAP (see enclosed
page 10 of the
General Instructions). Thus, when preparing your
Call Report, your bank should follow GAAP for
recognition and measurement purposes. However,
you must continue to follow the line item
instructions in order to determine the specific
Call Report line item on which assets,
liabilities,
income, expenses, and other items are to be
reported.
The Call Report forms for this quarter
also contain deletions of various items
and other reductions
in the detail required in several
schedules, including the combining of a
number of previously
separate items on the balance sheet and
on the securities, deposit, and
regulatory capital schedules.
To meet supervisory data needs resulting
from the adoption of GAAP, the FFIEC has
added a small
number of new items and has modified
certain existing Call Report items.
Other new Call Report
items will identify banks electing
Subchapter S status for federal income
tax purposes, support the
FDIC's calculation of banks' assessable
deposits, and determine bank usage of
credit derivatives.
For the March 31, 1997, report date,
banks may report a reasonable estimate
for any new or revised
Call Report item for which the requested
information is not readily available.
All banks are reminded to
provide information on the level
of auditing work performed by
independent external auditors
during 1996 (Schedule RC,
Memorandum item 1). This
information
is reported only as of the March
31 report date each year.
National banks and
FDIC-supervised banks
filing hard-copy Call
Report forms should
return only the
original signed forms to
the FDIC's data entry
site in Crofton,
Maryland. Original
signed forms that
are mailed to OCC
District or FDIC
Regional Offices are not
considered properly
addressed. The
use of an improper
address may cause a
bank's forms to be
received at the data
entry site after the
submission deadline.
State member banks
submitting hard-copy
Call Report forms should
return the
original signed forms
and one copy to the
appropriate Federal
Reserve District Bank.
The use of a
telephone facsimile
machine to transmit a
copy of the original
signed Call Report forms
is not an
acceptable method of
submission.
For further
information or
assistance
concerning the
Call Reports,
state member
banks should
contact
their Federal
Reserve District
Bank. National
and
FDIC-supervised
banks should
telephone the
FDIC's Call
Reports Analysis
Unit in
Washington,
D.C., toll free
on (800)
688-FDIC or on
(202) 898-6607,
Monday through
Friday between
8:00 a.m. and
5:00 p.m.,
Eastern Time.
Thank
you for
your
cooperation.
Enclosures
(in
PDF
format
-
PDF
help
or
hard
copy)
Distribution:
Insured
Commercial
Banks
and
FDIC-Supervised
Savings
Banks
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Last Updated 07/16/1999 | communications@fdic.gov |