Changes to banking organizations’ call reports addressing 2019 regulatory amendments – among them, the new community bank leverage ratio framework – have been sent up the chain for final review and approval, three federal banking agencies noted in a Federal Register notice Monday.
The reporting changes are being reviewed by the Office of Management and Budget (OMB), but the agencies will accept additional comments until Feb. 26.
The Federal Deposit Insurance Corp. (FDIC), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC), under the auspices of the Federal Financial Institutions Examination Council (FFIEC), in October sought comment for 60 days (until Dec. 3) on a proposal to revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051) and the Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework (FFIEC 101), which are currently approved collections of information.
After considering comments received, the agencies said they are proceeding with the proposed revisions to the reporting forms and instructions for the Call Reports and the FFIEC 101 (except for the reporting changes arising from the proposed total loss absorbing capacity holdings rule, yet to be finalized), with certain modifications. In general, they said, the modifications relate to the disclosure of an institution’s election of the CBLR framework, a change in the scope of the FFIEC 031 Call Report, and the reporting of home equity lines of credit that convert from revolving to non-revolving status.
The reporting revisions that implement various changes to the agencies’ capital rule would take effect in the same quarters as the effective dates of the capital rule changes, i.e., primarily as of the March 31 and June 30, 2020, report dates. Call Report revisions applicable to operating lease liabilities and home equity lines of credit would take effect in the first quarter of 2020 and 2021, respectively.