Q3 call reports streamlined for more institutions, agencies note in FIL; most reports due Oct. 30

Certain banking institutions will be able to file the more streamlined call report for third quarter 2019 if they had less than $5 billion in assets as of June 30, 2018, and meet other criteria, according to a Financial Institution Letter (FIL) issued Thursday by the Federal Deposit Insurance Corp. (FDIC) on behalf of all three federal banking regulators.

The letter also provides instructions for the treatment of small bank assessment credits the FDIC began issuing in the second quarter.

The FDIC, Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) in June adopted a final rule to implement streamlined reporting provisions in last year’s Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA, S.2155). The final rule expanded eligibility to file the Federal Financial Institutions Examination Council (FFIEC) 051 Call Report, which allows reduced reporting in call reports for the first and third quarters for institutions with less than $5 billion in total assets and that meet other criteria.

As reported previously, an institution is covered by this rule if it has less than $5 billion in total consolidated assets, has no foreign offices, is not required to or has not elected to use Subpart E (Internal Ratings-Based and Advanced Measurement Approaches) of the agencies’ regulatory capital rules to calculate its risk-based capital requirements, and is not a large or highly complex institution for purposes of the FDIC’s assessment regulations.

Thursday’s FIL notes that institutions that are eligible to use the FFIEC 051 but are unable to do so for the Sept. 30, 2019, report date, they may begin using the form as of the Dec. 31 report date. The option to file the FFIEC 051 beginning as of either Sept. 30, 2019, or Dec. 31, 2019, is also available to institutions that reported total assets less than $1 billion as of June 30, 2018, and meet the other eligibility criteria, but filed the FFIEC 041 Call Report for the first and second quarters of 2019, the letter states.

Starting with the March 31, 2020, report date, it says, an eligible institution can choose to file the FFIEC 041 or the FFIEC 051 Call Report “and should file the same version of the Call Report for each quarter of the calendar year.”

Except for certain institutions with foreign offices, completed call reports must be received by Oct. 30.

FIL-55-2019

RR: Agencies make final streamlined call reports for institutions under $5B, indicate more changes ahead (June 17, 2019)

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