Call report instructions to banks include reminder not to underestimate uninsured deposits; reports due Oct. 30

Instructions to help banks prepare their call reports for Sept. 30, including a reminder not to reduce the estimated amount of uninsured deposits to the extent they are collateralized by pledged assets, were sent to banks Monday via a Financial Institution Letter (FIL-54-2023) from the Federal Deposit Insurance Corp. (FDIC).

This reminder follows the finding shared with insured banks in July that some were incorrectly omitting uninsured deposits collateralized by pledged assets in FDIC FIL-37-2023.

Insured depository institutions’ Sept. 30 call report data is due Oct. 30, except that banks having more than one foreign office other than a “shell” branch or an International Banking Facility have an additional five days, until Nov. 4, to file.

The FDIC noted changes to the call report forms and instructions (for FFIEC 031, FFIEC 041 or FFIEC 051 Call Report) as a result of a required review of the forms in 2022. These revisions include the removal or consolidation of line items related to FDIC loss-sharing agreements, negative amortization loans, reverse mortgages, and the money market mutual fund liquidity facility.

The FDIC said clarifications have also been made to the reporting instructions for certain items on Schedule RC-T, Fiduciary and Related Services. More information is in FIL-07-2023 (Feb. 22, 2023) and FIL 31-2023 (June 13, 2023).

On reporting estimated uninsured deposits, it reminded that institutions with $1 billion or more in total assets should report this data on Schedule RC-O, Other Data for Deposit Insurance Assessments. “Institutions should not reduce the amount reported to the extent that the uninsured deposits are collateralized by pledged assets. This reporting is incorrect, because in and of itself, the existence of collateral has no bearing on the portion of a deposit that is covered by federal deposit insurance,” the agency said in supplemental instructions included with Monday’s FIL.

FDIC FIL-54-2023

Supplemental Instructions