Branch deposit survey on horizon; results due by July 31

Summary of deposits survey responses – which gauge the level of branch office deposits as of mid-year for banks and savings associations – are due by July 31, the federal insurer of bank deposits said Wednesday, with no filing extensions allowed.

Responses to the annual survey are required for all institutions with branch offices, including insured U.S. branches of foreign banks. Only those federally insured institutions with only a main office are exempt from filing the survey results.

The Federal Deposit Insurance Corp. (FDIC), in a financial institution letter (FIL-59-2020), said banks and savings associations should review by the end of this month the current bank branch information for their branches carried on the FDIC’s “BankFind” website. Changes can be submitted via another FDIC tool, the FDICconnect (FCX).

The survey results may be submitted beginning July 1. The FDIC said it will publish full survey results by Sept. 30 on its Deposit Market Share website.

The FIL contains both instructions for completing the survey and a list of vendors that provide software to help banks provide survey information.

FDIC FIL-59-2020: Summary of Deposits Survey and Filing for June 30, 2020