Banks working on their fourth-quarter 2020 call reports, due generally by Jan. 30, are reminded of revisions made to the reports beginning last March in a Financial Institution Letter (FIL) issued Friday by the Federal Deposit Insurance Corp. (FDIC).
While banks’ Dec. 31, 2020, call reports are due Jan. 30, certain institutions with more than one foreign office are allowed an additional five calendar days, until Feb. 4, to file.
Friday’s FIL, referring to information issued previously by the Federal Financial Institutions Examination Council (FFIEC), notes that banking agencies previously finalized revisions to the call reports and the Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework (FFIEC 101) in response to the impacts of the COVID-19 pandemic. Supplemental instructions for the call reports and the FFIEC 101 are detailed in a separate set of supplemental instructions issued in December.
The letter also notes a previous interim final rule providing relief for financial institutions with less than $10 billion in total assets as of Dec. 31, 2019, allowing them to calculate their asset size for applicable thresholds in certain rules during calendar years 2020 and 2021 based on the lower of total assets as of Dec. 31, 2019, or as of the normal measurement date. “In particular, the [interim final rule] allows institutions that temporarily exceed the $10 billion total asset threshold to use the community bank leverage ratio framework in Call Report Schedule RC-R from December 31, 2020, through December 31, 2021, provided they meet the other qualifying criteria for this framework,” the FIL states. “For each of these report dates, an institution would use the lesser of its total assets as of December 31, 2019, or as of the current quarter-end report date to determine whether it has met the $10 billion total asset threshold.”