If it’s the third week of January, it’s call for call-report time

Call reports are due Jan. 30, the three federal banking agencies reminded financial institutions Friday in a joint letter, which also urged filers to complete “as early as possible the preparation, editing, and review of your institution’s Call Report data.”

The letter from the Federal Deposit Insurance Corp. (FDIC), Federal Reserve and Office of the Comptroller of the Currency (OCC) notes that the latest version of the quarterly call report does not include any new or revised data items. However, one item has been deleted: “Total reciprocal deposits as of June 30, 2018” (Schedule RC-E, Memorandum item 1.h), which was reported on a one-time only-basis in the third-quarter (September 2018) report.

Regarding high volatility commercial real estate (HVCRE) exposures and reciprocal deposits that affect reporting (contained in last year’s regulatory relief legislation (the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), S. 2155), the letter notes attached supplemental instructions should be consulted for guidance.

An institution must file its fourth-quarter (Dec. 31, 2018) call report data in one of two ways, the agencies noted:

  • By using computer software to prepare and edit its report data and then electronically submitting the data directly to the agencies’ Central Data Repository (CDR) (https://cdr.ffiec.gov/cdr/); or
  • By completing its report in paper form and arranging with a software vendor or another party to convert the paper report to the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the institution’s call report data file to the CDR.

The agencies said that electronic submission of the fourth-quarter data will be considered timely if the data is received by the CDR no later than Wednesday, Jan. 30, 2019. The data must also pass FFIEC-published validation criteria (validity edits and quality edits) or, where necessary, contain explanations for any quality edits that are not passed.

FIL-2-2019 Consolidated Reports of Condition and Income for Fourth Quarter 2018