Another Financial Institution Letter (FIL) regarding the reduced reporting explained in an earlier one Friday by the three federal banking agencies was issued by the Federal Deposit Insurance Corp. (FDIC) alone later in the day.
The second FIL of the day, FIL-36-2019, appears (based on the content) to be an abbreviated form of the earlier one sent (FIL-35-2019) on behalf of the FDIC plus the Federal Reserve Board and Office of the Comptroller of the Currency (OCC).
The FDIC letter notes that the more streamlined call report, FFIEC 051, allowed for institutions under $5 billion in assets (and based on other criteria) provides for reduced reporting in the first and third quarters. It also recaps changes being made to the FFIEC 051 for first- and third-quarter reports; and notes some reduced reporting for certain institutions filing the FFIEC 041.
The FDIC-only FIL also closes with this: “The agencies are committed to exploring further burden reduction and are actively evaluating further revisions to the FFIEC 051 Call Report.”