Fed, FDIC, OCC issued a proposal to revise and extend for 3 years the Consolidated reports of condition and income (call reports) (FFIEC 031, FFIEC 041, and FFIEC 051).
Report of assets and liabilities of US branches, agencies of foreign banks (FFIEC 002).
As well as the Report of assets and liabilities of a non-US branch that is managed or controlled by a US branch or agency of a foreign (non-US) bank (FFIEC 002S).
Related to FASB Accounting standards update (ASU) 2022-02, Financial instruments-credit losses: Troubled debt restructurings (TDR) and vintage disclosures, #122178.
Call Reports
Revisions aim to align data collected in call reports and instruction with definition of loan modifications to borrowers experiencing financial difficulty that is used in GAAP.
Replaced, as appropriate, references to troubled debt restructurings with modifications to borrowers experiencing financial difficulty in forms, instructions, and glossary.
Will assist agencies in gaining a better understanding of banks' credit exposures.
In addition, proposed changes are needed to calculate deposit insurance assessments for large or highly complex institutions as defined in FDIC regulations, see #143774.
Made technical clarifications to reporting of internet website addresses of depository institution trade names; specified when to report uniform resource locators (URLs).
Increased frequency of reporting from semiannual to quarterly in the FFIEC 051.
Proposed revisions would take effect beginning with the Mar. 31, 2024, report date.
Financial institutions that have fiscal years beginning in Q4 2023, and choose not to early adopt the standard, will not apply the standard until Dec. 31, 2023, report date.
Consultation
Comments on proposed call report revisions must be submitted by Nov. 27, 2023.
Oct. 2, 2023 FFIEC Call Report Forms
On Oct. 2, 2023, FFIEC issued call report, FFIEC 002 revisions related to AUS 2022-02.
Proposed revisions are described in the Agencies' aforementioned call report proposal.
Oct. 20, 2023 Editorial Update
On Oct. 20, 2023, Reg-Track made an editorial update to remove content on updated call report forms and instructions for third-quarter 2023 reporting, now in #164101.
May 2024 Agencies Information Collection
On May 22, 2024, Fed, FDIC, OCC issued notice of plan to submit a request to approve revision and extension of these information collections; invited comments on renewal.
Agencies are proceeding with the revision and addition of certain new data items related to the reporting of loans to NDFIs and other loans, with certain modifications.
Comments on the data collections must be submitted on or before Jun. 21, 2024.
May 2024 FDIC Updated Forms
On May 23, 2024, FDIC issued FIL-26-2024 on final updates to call reports, FFIEC 002.
Changes to FFIEC 031, FFIEC 041, FFIEC 051, FFIEC 002 are effective Jun. 30, 2024.
Revisions relate to reporting of loans to NDFIs as of Dec. 31, 2024 report date, adds item for reporting structured financial product guaranteed by US government agencies.
Issued request for review of proposed revisions, comments are due by Jun. 21, 2024.
Document dated May 23, 2024, received from FFIEC Jun. 3 summarized on Jun. 6.
Issued redlined versions of draft reporting forms for proposed call report revisions with proposed effective dates Jun. 30, 2024 and Dec. 31, 2024 for FFIEC 051, 031, 041.
Also redlined draft instructions for the proposed revisions for FFIEC 051, 031, and 041.
Published letter explaining the proposed FFIEC 002 regulatory reporting revisions.
Replacing references to troubled debt restructurings with modifications to borrowers experiencing financial difficulty as in the ASU 2022-02 as of the Jun. 30, 2024 report.
Also implementing revisions re reporting loans to NDFIs as of Dec. 31, 2024 report.
Issued draft reporting form for FFIEC 002 revisions proposed to take effect with Dec. 31, 2024, report date and draft instructions for revisions with Jun. 30, 2024 report.
Comments on the proposed FFIEC 002 revisions are due on or before Jun. 21, 2024.
The materials pertain to Consolidated Reports of Condition and Income (Call Report) for the Jun. 30, 2024, report date and provide guidance on certain reporting issues.
Sep. 2024 FFIEC Call Report Forms
On Sep. 27, 2024, FFIEC posted current version of Sep. 2024 forms 031, 041, 051.
For proposed call report revisions, proposed effective dates Jun. 30 and Dec. 31, 2024.
Oct. 2024 FFIEC 3rd Quarter Call Reports
On Oct. 2, 2024, FFIEC issued FIL-71-2024 on call report for Sep. 30 report date.
Completed call report must be received by Oct. 30, in accordance with requirements.
An institution with more than 1 foreign office, other than a shell branch/International Banking Facility, is permitted an additional 5 calendar days to submit call report data.
There are no new or revised data items that take effect this quarter in the FFIEC 051, FFIEC 041 or FFIEC 031 call report; further, no updates to supplemental instructions.
