Bank call reports, revised to reflect recent legislation, would receive a three-year lease on life under a rule proposed Tuesday by the federal banking agencies, and announced in a financial institution letter (FIL) Wednesday by the bank deposit insurance agency.
These proposed changes, proposed to take effect June 30, apply to all three versions of the call report published by the Federal Financial Institutions Examination Council (FFIEC). Those are FFIEC 031, FFIEC 041, and FFIEC 051. The changes also apply to the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002), as applicable, the agencies said.
More specifically, according to the notice published in the Federal Register, revisions include those applying to reporting on the Federal Deposit Insurance Corp.’s (FDIC) loss-sharing agreements items, noncash income from negative amortization loans, reverse mortgages items, Paycheck Protection Program (PPP) and Federal Reserve Facilities items, format of call report instructions, and an optional tax worksheet.
Comments are due April 24, the agencies said.