SUBJECT: Consolidated Reports of Condition and Income for Third Quarter 2010
The attached materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the September 30, 2010, report date. Please plan to complete the preparation, editing, and review of your bank's Call Report data and the submission of these data to the agencies' Central Data Repository (CDR) as early as possible. Starting your preparation early will aid you in identifying and resolving any edit exceptions prior to the submission deadline. If you later find that certain information needs to be revised, please make the appropriate changes to your Call Report data and promptly submit the revised data file to the CDR.
Except for certain banks with foreign offices, your completed Call Report must be received by Saturday, October 30, 2010, in accordance with the filing requirements discussed below. No extensions of time for submitting Call Report data are granted.
For banks participating in the Federal Deposit Insurance Corporation's (FDIC) Transaction Account Guarantee (TAG) Program, the basis for calculating assessments has changed from quarter-end balances in TAG-eligible accounts to average daily balances in such accounts, effective July 1, 2010. Thus, participating banks must report the total dollar amount and number of TAG-eligible accounts as average daily balances in Schedule RC O, Memorandum items 4.a and 4.b, in this quarter's Call Report and in the report for December 31, 2010. Further information on these revised TAG Program reporting requirements is available on the FDIC's Web site (http://www.fdic.gov/regulations/resources/TLGP/tagp-programReportingGuidance.pdf). Revised instructions for Schedule RC O, Memorandum items 4.a and 4.b, are included in this quarter's Call Report instruction book update.
Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the Federal Deposit Insurance Act to provide temporary unlimited insurance coverage to noninterest-bearing transaction accounts. This amendment will be in effect from December 31, 2010, through December 31, 2012, and it will replace the FDIC's TAG program. However, the Dodd-Frank Act defines the noninterest-bearing transaction accounts eligible for this unlimited insurance protection more narrowly than under the FDIC's TAG program regulations. The Dodd-Frank Act also provides this unlimited insurance coverage to noninterest-bearing transaction accounts at all FDIC-insured institutions. To support the FDIC's administration of the Deposit Insurance Fund in response to Section 343, all banks, including those that had not elected to participate in the FDIC's TAG program, must begin to report the quarter-end dollar amount and number of noninterest-bearing transaction accounts (as defined in the Dodd-Frank Act) of more than $250,000 in new Memorandum items 5.a and 5.b of Schedule RC-O, beginning December 31, 2010. The instructions for reporting estimated uninsured deposits in Schedule RC O, Memorandum item 2, will also be revised as of that date to reflect the temporary change in insurance coverage resulting from Section 343. These December 2010 reporting changes are subject to approval by the U.S. Office of Management and Budget. Draft instructions for Schedule RC O, Memorandum items 5.a and 5.b, and draft revised instructions for Memorandum item 2, will be available on the Federal Financial Institutions Examination Council's (FFIEC) Web site (http://www.ffiec.gov/ffiec_report_forms.htm) by October 1, 2010.
The Call Report forms for September 2010 are available on both the FFIEC's Web site (http://www.ffiec.gov/ffiec_report_forms.htm) and the FDIC's Web site (http://www.fdic.gov/callreports). An instruction book update for September 2010 is expected to be available on these Web sites by October 4, 2010. This update includes a revised Glossary in which the references to accounting standards now include the corresponding references to the Financial Accounting Standards Board's Accounting Standards Codification. Banks should also refer to this quarter's attached Supplemental Instructions for additional guidance on certain reporting issues. Report forms and instructional materials can be both printed and downloaded from the FFIEC's and the FDIC's Web sites. Please notify the person responsible for preparing Call Reports at your bank about the electronic availability of the report forms, instruction book update, and Supplemental Instructions for September 2010.
Each bank must file its September 30, 2010, Call Report data in one of the following two ways:
A bank may use computer software to prepare and edit its report data and then electronically submit the data directly to the CDR (https://cdr.ffiec.gov/cdr/).
A bank may complete its report in paper form and arrange with a software vendor or another party to convert its paper report into the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the bank's Call Report data file to the CDR.
Electronic submission of Call Report data will be considered timely if the data are received by the CDR no later than Saturday, October 30, 2010, and pass FFIEC-published validation criteria (validity edits and quality edits) or, where necessary, contain explanations for any quality edits that are not passed. Explanatory comments should be prepared consistent with the "Guidelines for Resolving Edits" that are published on the FFIEC's Web site at http://www.ffiec.gov/find/documents/resolvingedits.pdf.
A bank that has more than one foreign office, other than a "shell" branch or an International Banking Facility, is permitted an additional five calendar days to submit its Call Report data. Such a bank must electronically transmit its data to the CDR no later than Thursday, November 4, 2010. In addition, on or about each April 30 and October 30, the FDIC conducts a telephone survey of some banks with more than one foreign office to obtain certain deposit data needed to estimate insured deposits.
For technical assistance with the CDR, banks should contact the CDR Help Desk by telephone at (888) CDR 3111, by fax at (703) 774-3946, or by e-mail at CDR.Help@ffiec.gov. For further information concerning the Call Report itself, state member banks should contact their Federal Reserve District Bank. National and FDIC-supervised banks should contact the FDIC's Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688 FDIC (3342) or by e-mail at insurance firstname.lastname@example.org.
Timothy W. Long
Senior Deputy Comptroller and
Chief National Bank Examiner
Office of the
Comptroller of the Currency
Patrick M. Parkinson
Division of Banking
Supervision and Regulation
Board of Governors of the
Federal Reserve System
Sandra L. Thompson
Division of Supervision and