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Home > News & Events > Inactive Financial Institution Letters |
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Inactive Financial Institution Letters |
FIL-35-2000 |
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The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Board), and the Office of the Comptroller of the Currency (OCC) are requesting comment on proposed revisions to the Reports of Condition and Income (Call Reports) that would take effect March 31, 2001. The proposed changes, which have been approved by the Federal Financial Institutions Examination Council (FFIEC), are intended to make the content of the Call Report more relevant to the agencies in today's evolving financial services environment. The revised reporting requirements are also designed to complement the agencies' emphasis on risk-focused supervision. Furthermore, the proposal addresses certain aspects of Sections 307(b) and (c) of the Riegle Community Development and Regulatory Improvement Act of 1994. These sections direct the banking agencies to work jointly toward more uniform reporting, review the information that institutions currently report, and eliminate existing reporting requirements that are not warranted for safety and soundness or other public policy purposes. The agencies encourage you to review the proposal and comment on aspects of it that are of interest to you. Comments may be sent to any or all of the banking agencies at the addresses listed on the first page of the attached Federal Register notice. All comments will be shared among the agencies and should be submitted by July 31, 2000. The proposal's more significant revisions include:
All of the proposed revisions are described in the attached Federal Register notice. The notice also requests comment on a variety of issues related to the proposed changes, on two other possible revisions to the Call Report requirements, and on the reporting burden of the Call Report. These issues include:
To assist in understanding the proposed reporting requirements for 2001, a sample of the proposed report form applicable to your bank - the FFIEC 041 for banks with domestic offices only and the FFIEC 031 for banks with foreign offices - is attached. Copies of both proposed forms are available on the FFIEC's Internet Web site (www.ffiec.gov) and as an attachment to the electronic version of this Financial Institution Letter on the FDIC's Web site (www.fdic.gov/news/news/financial/2000/index.html). As is customary for Call Report changes, please note that, for the March 31, 2001, report date only, reasonable estimates may be provided for any new or revised item for which the requested information is not readily available. Furthermore, the specific wording of the captions for the new and revised Call Report items and the numbering of the items in the sample report forms for 2001 should be regarded as preliminary. For further information about the proposed Call Report revisions, please contact Robert Storch at the FDIC (202-898-8906), Arthur Lindo at the Board (202-452-2695), or Gary Christensen at the OCC (202-874-4482).
Table of Contents for the Federal Register Notice May 31, 2000, Federal Register, pages 34801-34819 Proposed FFIEC 031 Call Report Form for Banks with Foreign Offices Proposed FFIEC 041 Call Report Form for Banks with Domestic Offices Only
Distribution: Insured Commercial Banks and FDIC-Supervised Savings Banks
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).
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Last Updated 06/08/2000 | communications@fdic.gov |