Call report changes, including revisions to schedules in response to adjustments in accounting for equity securities, have been finalized by the federal banking agencies, a government regulatory umbrella group said Wednesday.
In a release, the Federal Financial Institutions Examination Council (FFIEC) said its member banking regulatory agencies – the Federal Reserve Board, the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC) – had approved the changes, proposed in June 2017. The changes are effective June 30, 2018, the FFIEC said.
According to the release, the finalized changes “remove, raise the reporting threshold for, or reduce the reporting frequency of approximately seven percent of the data items on the Call Report” for small institutions, while other burden-reducing changes are included for larger institutions.
Reflecting revisions in accounting rules, changes in the reports involving the reporting of equity investments are effective March 31, the release stated.
FFIEC also noted that the agencies are not proceeding with proposed revisions to the instructions for determining past due status. The decision, FFIEC said, reflects comments received last year on the proposal.
FFIEC Finalizes June 2017 Proposed Revisions to Streamline the “Call Report”