Federally supervised banking organizations are due to have their fourth-quarter call reports in to their federal regulatory agencies no later than Jan. 30 – except those with more than one foreign office (not counting “shell” branches or international banking facilities), which have an additional five calendar days to file.
The approaching report filing deadline is discussed in a Federal Deposit Insurance Corp. (FDIC) Financial Institution Letter (FIL-1-2020) issued Monday on behalf of the bank deposit insurer as well as the Federal Reserve Board and the Office of the Comptroller of the Currency (OCC).
The letter also reiterates the expanded, streamlined reporting option that went into effect with third-quarter reporting. This option, permitted under provisions of the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), allows banks with less than $5 billion in assets and that meet certain other criteria to file the Federal Financial Institutions Examination Council (FFIEC) 051 call report. (This option is also available to institutions that reported total assets less than $1 billion as of June 30, 2018, met the other eligibility criteria, but filed the FFIEC 041 Call Report for the first three quarters of 2019, the letter states.)
The FIL notes that, starting with the March 31, 2020, report date, 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. It says the $5 billion asset-size test for eligibility to file the FFIEC 051 call report for report dates in 2020 is based on the total assets an institution reported as of June 30, 2019.
The FDIC also on Monday issued FIL-2-2020 (also on Q4 call reports) directed solely at FDIC-supervised institutions.