Banks have all of July to submit their annual survey of branch office deposits for the year ending June 30, the federal bank deposit insurance agency said Wednesday in a letter to all insured institutions, noting that “no filing extensions will be granted.”
The Federal Deposit Insurance Corp. (FDIC) said in financial institution letter (FIL) 25-2022 that the summary of deposits (SOD), which is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks, is required to be filed by all institutions with branch offices; institutions with only a main office are exempt.
The agency said that by the end of this month, all insured institutions should review their current branch office information using the FDIC’s BankFind website and submit changes through FDICconnect (FCX). Details on how to use FCX are provided in the SOD reporting instructions, the agency said. Changes that cannot be submitted through FCX should be included in the SOD survey, FDIC added.
Further, the agency said, the survey must be completed either directly in FDIC’s Central Data Repository (CDR) or using “vendor software to prepare and submit their survey responses to the CDR.” Software vendors available to assist with the SOD filing are listed under “Filing Procedures” in the FIL, the agency said.
Survey results, the FDIC said, are expected to be published no later than Sept. 30 on its Deposit Market Share website.