Inactive Financial Institution Letters

Revisions to the Consolidated Reports of Condition and Income for June 2018; Webinar on April 5, 2018

Printable Format:

FIL-13-2018 - PDF (PDF Help)

Summary:

As part of an ongoing effort to ease reporting requirements and lessen reporting burden, the federal banking agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), have finalized additional burden-reducing revisions to all three versions of the Consolidated Reports of Condition and Income (Call Report) that will take effect June 30, 2018. These revised Call Report requirements, which were issued for comment in November 2017, are subject to approval by the U.S. Office of Management and Budget. The banking agencies will conduct a banker webinar on April 5, 2018, to discuss the burden-reducing Call Report revisions and certain other reporting changes.

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

Highlights:

• The additional burden-reducing changes being implemented by the agencies effective June 30, 2018, apply to the FFIEC 051 Call Report for eligible small institutions, which was introduced in 2017, as well as the FFIEC 041 and FFIEC 031 Call Reports.
• Previously announced burden-reducing Call Report revisions originally proposed in June 2017 also will take effect June 30, 2018 (see FIL-4-2018, dated January 5, 2018).
• Redlined copies of the FFIEC 051, FFIEC 041, and FFIEC 031 report forms showing the Call Report revisions taking effect in June 2018 and the related draft instructions are available on the FFIEC's website (https://www.ffiec.gov/ffiec_report_forms.htm).
• On Thursday, April 5, 2018, from 1:00 p.m. to 2:30 p.m., Eastern Time, the banking agencies, under the auspices of the FFIEC, will conduct a webinar for bankers to discuss the upcoming burden-reducing Call Report changes.
  • The webinar also will cover revisions to the reporting of equity securities taking effect March 31, 2018; instructional changes resulting from the agencies' regulatory capital transitions rule; and reporting implications of the recently enacted tax law.
  • Information about accessing the webinar is attached to this Financial Institution Letter.
• Institutions should review FIL-12-2018 for further information about the additional burden-reducing revisions to the Call Report.