Banks have until Oct. 30 to file third-quarter call reports

Call reports for the third quarter 2017 are due Oct. 30 to federal banking agencies, according to a financial institution letter (FIL) circulated Tuesday by the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC) and the Federal Reserve.

According to the federal banking agencies, the third-quarter report (known officially as the “Consolidated Reports of Condition and Income for Third Quarter 2017”) “does not include any new or revised data items this quarter.”

“Please plan to complete the preparation, editing, and review of your institution’s Call Report data and the submission of these data to the agencies’ Central Data Repository (CDR) as early as possible,” the letter states. “Starting your preparation early will help you identify and resolve any edit exceptions before the submission deadline.”

The agencies, however, noted that some institutions “significantly affected” in hurricane-ravaged states may be challenged in meeting the Oct. 30 deadline, and should contact their primary federal regulatory agency to discuss their situation. The states include those affected by Hurricanes Harvey, Irma and Maria.

The agencies also pointed to the Accounting and Regulatory Reporting Questions and Answers issued following Hurricanes Katrina and Rita in 2005; the Q&A issued then, the agencies stated, remain applicable.

Additionally, the federal banking agencies noted they had implemented as of the March 31, 2017 report date, a new streamlined call report for eligible small institutions. Known as the FFIEC 051, it is designed for those institutions with domestic offices only and total assets less than $1 billion, excluding those that are advanced approaches institutions for regulatory capital purposes. Those required to file the FFIEC 041 Call Report based on supervisory needs are also excluded.

For 2017, the $1 billion asset-size test, the agencies stated, is based on the total assets reported in an institution’s call report for June 30, 2016. “An eligible institution that has not filed the FFIEC 051 Call Report as of a previous quarter-end report date in 2017 may begin reporting on the FFIEC 051 as of either the Sept. 30, 2017, or the Dec. 31, 2017, report date,” the agencies’ letter stated.

The institution also may wait until March 31, 2018, to begin reporting on the FFIEC 051, assuming the total assets reported in its June 30, 2017, Call Report were less than $1 billion. An eligible small institution is not required to file the FFIEC 051, but has the option to continue filing the FFIEC 041 Call Report, according to the letter.

Also, the agencies’ letter stated that an institution with 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 an institution must electronically transmit its data to the CDR no later than Nov. 4, 2017.

FIL-49-2017: Consolidated Reports of Condition and Income for Third Quarter 2017