to the Reports of Condition and Income (Call
Reports) for 1996
Federal Reserve Board, the Federal Deposit Insurance
Corporation and the Office of the Comptroller
of the Currency plan to implement several changes
to the Reports of Condition and Income (Call Report)
that were approved by the Federal Financial Institutions
Examination Council (Examination Council) in 1995.
The Examination Council provided advance notice
of these changes in Financial Institutions Letter
FIL-83-95, dated December 15, 1995. These changes
will take effect on March 31, 1996, pending approval
by the U.S. Office of Management and Budget.
reporting changes for March 31, 1996, include
deletions of a number of items, such as deposit
totals for assessment purposes and deposits denominated
in foreign currencies, and a reduced level of
detail for larger banks on trading revenue and
nontransaction accounts by type of depositor.
In addition, Call Report disclosures about certain
capital and asset amounts used in calculating
regulatory capital ratios are being introduced,
data on short-term liabilities and assets are
being expanded, and a limited number of new items
are being added for other information of a specialized
nature. The attached document contains detailed
instructions for these new or revised Call Report
items, along with other revised instructions for
the March 31, 1996, report date.
banks were previously advised, Financial Accounting
Standards Board Statement No. 122, "Accounting
for Mortgage Servicing Rights," is effective for
Call Report purposes for fiscal years beginning
after December 15, 1995. Statement No. 122 eliminates
the accounting distinction between originated
mortgage servicing rights (OMSRs) and purchased
mortgage servicing rights (PMSRs). OMSRs generally
represent the servicing rights acquired when an
institution originates mortgage loans and subsequently
sells the loans but retains the servicing rights.
PMSRs are mortgage servicing rights that have
been purchased from other parties. Upon a bank's
adoption of Statement No. 122, both OMSRs and
PMSRs must be capitalized as balance sheet assets,
a treatment previously permitted only for PMSRs.
Additional information about mortgage servicing
rights is presented in the attached document.
Institutions are encouraged to consult with their
outside accountants for assistance in implementing
Statement No. 122.
more information or assistance, national banks
and FDIC-supervised commercial and savings banks
may contact the FDIC's Call Reports Analysis Unit
in Washington, D.C., toll-free on 1-800-688-FDIC
(3342) or 202-898-6607, Monday through Friday,
between 8:00 a.m. and 5:00 p.m. Eastern time.
State member banks may contact their district
Federal Reserve Bank.