Third-quarter bank call reports distributed with new data items for sweep deposits

Third-quarter call reports that include new data items for sweep deposits at banks with both domestic and foreign offices were distributed by the three federal banking agencies Monday.

According to a financial institution letter (FIL-68-2021) from the Federal Deposit Insurance Corp. (FDIC), call report data items that relate to sweep deposits on Schedule RC-E, Deposit Liabilities, are effective as of the Sept. 30, 2021, report date for FFIEC Form 031 and FFIEC Form 041 filers. FFIEC Form 051 filers will report these new data items semiannually on the June and December call report forms, the letter states.

Completed call reports are due Oct. 30, the letter states. However, an institution with more than one foreign office, other than a “shell” branch or an international banking facility, is permitted an additional five calendar days to submit its report data, the letter states. That means the data must be electronically filed no later than Nov. 4.

The FDIC letter notes that on May 24 the banking agencies published in the Federal Register the final regulatory reporting changes related to FDIC assessments, brokered deposits, and sweep deposits that apply to all three versions of the call report. These revisions are related to the FDIC’s Final Rule on Brokered Deposits and Interest Rate Restrictions published last December.

FDIC FIL-68-2021: Consolidated Reports of Condition and Income for Third Quarter 2021