Banks and savings associations have until April 30 to file their first quarter call reports, the federal banking agencies said Tuesday in a notice; as per usual, no extensions of filing time are granted.
In the notice issued by the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, the agencies noted that several revisions are included in the schedules in the call report (also known as the Consolidated Reports of Condition and Income) that respond to changes in accounting for equity securities and other equity investments.
Also beginning this quarter, the agencies noted, the Nov. 2017 final rule amending the agencies’ regulatory capital rules to extend the transition provisions applicable during 2017 (for certain regulatory capital deductions, risk weights, and minority interest limitations for non-advanced approaches institutions) affect the reporting of regulatory capital and risk-weighted assets in schedule RC-R of the call report.
“Eligible small institutions, generally those with domestic offices only that reported total assets less than $1 billion in the Call Report for June 30, 2017 (excluding advanced approaches institutions for regulatory capital purposes and institutions required to file the FFIEC 041 Call Report based on supervisory needs), may choose to file the FFIEC 051 Call Report as of the March 31, 2018, report date,” the agencies said in their announcement.
An eligible small institution is not required to file the FFIEC 051 for report dates in 2018, but has the option to continue filing the FFIEC 041 Call Report, the agencies stated. “However, an eligible small institution is expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during 2018.”
The three agencies noted that updates to call report instruction books for March 2018 will soon be available from Federal Financial Institution Examination Council (FFIEC) and FDIC websites.
The agencies also noted that revisions to all three versions of the call report will take effect June 30.
Consolidated Reports of Condition and Income for First Quarter 2018