Instructions and guidance for submitting first-quarter 2023 bank call report data are provided with a Financial Institution Letter (FIL) issued Wednesday by the Federal Deposit Insurance Corp. (FDIC).
The call reports, covering the period from Jan. 1-March 31, 2023, are due to the agency no later than April 30. As usual, institutions having more than one foreign office, other than a “shell” branch or an International Banking Facility, are permitted an additional five calendar days – until May 5 – to submit their Call Report data, the agency said in FIL-11-2023.
The FDIC said there are no new data items sought for the first-quarter reports. However, it noted that:
- The preprinted caption on Schedule RI-E, item 4.b, “Effect of adoption of lease accounting standard – ASC Topic 842,” has been removed on all three report forms and instructions. For institutions that are private companies with a non-calendar fiscal year and have not chosen to early adopt ASU No. 2016-02, “Leases,” guidance during the transition period will be retained in the Call Report instructions until December 31, 2023. Those institutions should disclose the amount of the cumulative-effect adjustment to bank equity capital for this change in accounting principle in Schedule RI-E, Explanations, item 4.c or 4.d, with a write-in descriptor indicating ASU 2016-02.
- Institutions that have adopted Accounting Standards Update No. 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” should continue referring to the topic “Accounting for Loan Modifications to Borrowers Experiencing Financial Difficulty” in the Supplemental Instructions. This topic provides guidance on how an institution should report its loan modifications to borrowers experiencing financial difficulty in the Call Report. Institutions should refer to the attached Supplemental Instructions for March 2023 for additional guidance on certain reporting issues.
The FDIC notes that the March 31 call report data must be filed in one of two ways:
- By using computer software to prepare and edit its report data and then electronically submitting the data directly to the CDR; or
- By completing its report in paper form and arranging with a software vendor or another party to convert the paper report to the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the institution’s Call Report data file to the CDR.
“Electronic submission of first quarter 2023 Call Report data will be considered timely if the data are received by the CDR no later than Sunday, April 30, 2023, or Friday, May 5, 2023, as applicable, and pass FFIEC-published criteria for validity and quality edits or, where necessary, contain explanations for any quality edits that are not passed,” the FIL states.