Insured financial institutions must provide quarterly reports of condition and income (Call Reports) to the appropriate regulatory agency for supervisory, surveillance, regulatory, research, insurance assessment and informational purposes.
Section 7 of the Federal Deposit Insurance Act requires all insured depository institutions to submit four "reports of condition" each year to their primary federal bank supervisory authority, i.e., the FDIC, the OCC, or the FRB, as appropriate. FDIC-supervised institutions, i.e., insured state nonmember banks and state savings associations, submit these reports to the FDIC. The FDIC uses the quarterly Call Reports to monitor the condition and performance of individual institutions and the industry as a whole. In addition, Call Reports provide the FDIC with the most current statistical data available for evaluating depository institution corporate applications such as mergers; identifying areas of focus for both on-site and off-site examinations; calculating all insured institutions' deposit insurance and Financing Corporation assessments; and other public purposes. Within the Call Report information collection system as it is proposed to be revised, separate report forms apply to institutions that have domestic and foreign offices (FFIEC 031) and to institutions with domestic offices only (FFIEC 041 and, for those with total assets less than $1 billion, FFIEC 051).
The proposed revisions to the Call Report that are the subject of this request, which would involve quarterly reporting unless otherwise indicated, and their effective dates are summarized as follows
The FDIC, the FRB, and the OCC (collectively, the agencies) are revising the Call Report information collection in an ongoing effort to reduce the burden associated with their preparation and filing. The revisions consolidate, delete, or raise the reporting threshold for a number of line items, overall continuing the process of reforming the Call Report to focus on truly valuable information and removing items of little or no value.
The agencies propose under the emergency clearance provisions of OMBâs regulations to revise the Call Reports effective beginning with the June 30, 2018, report date. The agencies have determined that (1) the collection of information within the scope of this request is needed prior to the expiration of time periods established under 5 CFR 1320.10, (2) this collection of information is essential to the mission of the agencies, and (3) the agencies cannot reasonably comply with the normal clearance procedures because an unanticipated event has occurred and the use of normal clearance procedures is reasonably likely to prevent or disrupt the collection of information.
These revisions arise from Congressional enactment of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Section 202 of EGRRCPA requires the FDIC to adjust the definition of reciprocal deposits and brokered deposits reported on the Call Report. Section 214 of EGRRCPA requires the agencies to revise the definition of high volatility commercial real estate (HVCRE) that banks use to calculate risk-based capital. These provisions became effective automatically when the law was signed on May 24, 2018.
The agencies must receive data from the quarterly Call Reports as part of their missions to supervise the safety and soundness of financial institutions. The next reports are due at the end of July 2018, based on information as of June 30, 2018. In order for the agencies to implement sections 202 and 214 as required by law, the agencies cannot comply with the normal clearance process and still receive the June 30, 2018, financial data in a timely manner.
US Code:
12 USC 1817(a)
Name of Law: Federal Deposit Insurance Act
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
SPST-0052 Call Report Revisions 073118.docx
Interagency Statement.pdf
Consolidated Reports of Condition and Income (Call Report)