The annual survey of branch deposits (Survey of Deposits, or SOD) as of June 30 for all federally insured banks and savings institutions is due to the Federal Deposit Insurance Corp. (FDIC) by July 31, the agency said in a Financial Institution Letter (FIL) Tuesday.
The report is required of all institutions that have branch offices, including insured U.S. branches of foreign banks, that are insured by the FDIC, the agency noted. (Institutions with only a main office are exempt.) No filing extensions will be granted, the letter noted.
SOD report results will be published on the FDIC’s website by Sept. 30 at www5.fdic.gov/sod.
The FIL also provides the following tips and instructions:
- By June 28, 2019, institutions should review their current branch office information on the FDIC’s BankFind website at https://research.fdic.gov/bankfind and submit changes through FDICconnect (FCX). Details on how to use FCX are provided in the SOD Reporting Instructions. Changes that cannot be submitted through FCX should be included in the SOD Survey.
- Institutions may submit their reports beginning July 1. (Again, all reports are due July 31; no extensions are provided.)
- Institutions must either complete the survey directly in the Central Data Repository (CDR) or use vendor software to prepare and submit their survey responses to the CDR. Software vendors available to assist with the SOD filing are listed in the FIL under “Filing Procedures” (in the PDF version, this is on p.3 of the letter).
- SOD Reporting Instructions are available on the FDIC’s website at www.fdic.gov/sod.