Proposed changes in banks’ regulatory reporting, many of which would take effect this June, are discussed in a Financial Institution Letter (FIL) issued Friday by the federal insurer of bank deposits.
The Federal Deposit Insurance Corp. (FDIC) FIL refers to a Federal Register notice published Dec. 27 presenting changes proposed jointly by the FDIC, Federal Reserve Board, and Office of the Comptroller of the Currency (OCC). The proposal includes revisions proposed for call reports and the FFIEC 002 report form and instructions related to the reporting on (1) loans to nondepository financial institutions and other loans, (2) guaranteed structured financial products, and (3) proposed long-term debt requirements.
The proposed revisions to the FFIEC 002 report form and instructions relate to the reporting on the loans to nondepository financial institutions and other loans, the FIL notes.
The agencies, in their notice, also request comment on a proposal to adopt ongoing standards for electronic signatures to comply with the Call Report signature and attestation requirement.
“These proposed changes would be effective as of the June 30, 2024, report date, except for those related to the proposed long-term debt requirements that would take effect the same quarter as the effective date of any final rule,” the FIL states.
Comments on the proposed changes are due Feb. 26.