Submissions are due by July 31 for summary of branch office deposits submissions, the annual survey of deposits for banks with branch offices, including insured foreign banks; no filing extensions are granted, the federal insurer of bank deposits said Tuesday.
In Financial Institutions Letter (FIL) 38-2021, the Federal Deposit Insurance Corp. (FDIC) said that by the end of June all banks should review current branch office information (using the agency’s BankFind website) and submit their statement of deposits (SOD) reports through FDICconnect (FCX). Only banks with branches are required to submit reports.
Submissions may be made beginning July 1, but all submissions must be made no later than July 31, the agency noted. “Institutions must either complete the survey directly in the Central Data Repository (CDR) or use vendor software to prepare and submit their survey responses to the CDR,” the FDIC said. Vendors available to assist with the SOD filing are listed under “Filing Procedures” on page three of the letter, FDIC said.
Results of the survey will be published by Sept. 30 on the FDIC’s Deposit Market Share website.