Inactive Financial Institution Letters

Consolidated Reports of Condition and Income

Summary:

The Consolidated Reports of Condition and Income (Call Report) for the December 31, 2014, report date must be received by Friday, January 30, 2015. Certain institutions with foreign offices have an additional five calendar days to submit their reports.

Statement of Applicability to Institutions With Total Assets Under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised banks and savings associations, including community institutions.

Highlights:

• This quarter's Call Report does not require institutions to report any new or revised data items.
• The Call Report forms and an instruction book update for December 2014 are available on the Federal Financial Institutions Examination Council's Web site at http://www.ffiec.gov/ffiec_report_forms.htm and the FDIC's Web site at http://www.fdic.gov/callreports.
• Banks should review FIL-1-2015 and its accompanying Supplemental Instructions for further information on the fourth quarter 2014 Call Report.
  • This quarter's Supplemental Instructions include guidance on the applicability for Call Report purposes of a new accounting standard that allows institutions to elect whether or not to apply pushdown accounting in certain business combinations.
  • This guidance also provides that an institution's primary federal regulator reserves the right to require, or prohibit, the institution's use of pushdown accounting based on an evaluation of whether the election appears not to be supported by the facts and circumstances of the business combination.
• FIL-1-2015 can be accessed at https://www.fdic.gov/news/news/financial/2015/fil15001.html.