Regulatory reporting rule changes finalized this May related to deposit insurance assessments, brokered deposits, and sweep deposits will begin to be reflected in banks’ call reports starting with the second-quarter reports due July 30 to the Federal Deposit Insurance Corp. (FDIC), according to a letter issued Wednesday.
In its Financial Institutions Letter (FIL), the FDIC said the call report changes will allow the agency to implement its recently proposed amendments to the deposit insurance assessment system applicable to large and highly complex insured depository institutions. The FDIC said the reporting changes affecting the definition of brokered deposits in the form instructions and glossary are effective as of the June 30, 2021, report date, while the reporting changes to the call report that relate to sweep deposits on Schedule RC-E, Deposit Liabilities, are effective as of the Sept. 30, 2021, report date.
Completed call reports – except those for certain institutions with foreign offices – must be received by Friday, July 30. The FDIC said an institution with more than one foreign office, other than a “shell” branch or an international banking facility, is allowed another five five calendar days (until Aug. 4) to submit its call report data.