Reports of Condition and Income (Call Reports) for Second Quarter 1997
The enclosed materials pertain to the Reports of Condition and Income (Call Reports) for June 30, 1997.
The second quarter Call Reports should be completed and submitted as soon as possible. However,
completed original reports must be received by the FDIC (for national and FDIC-supervised banks), the
appropriate Federal Reserve District Bank (for state member banks), or the banking agencies' electronic
collection agent by July 30, 1997.
The filing of a Call Report will be considered timely, regardless of when the Call Report is received, if
it is mailed first class, properly addressed, and postmarked not later than July 27, 1997, or if it is entered
into an overnight delivery system for the proper destination on or before July 29, 1997. No extensions
of time for submitting reports are granted. In the absence of a postmark, a bank whose original Call
Report is received late by the FDIC (at its data entry site in Crofton, Maryland) or the appropriate
Federal Reserve District Bank may be called upon to provide proof of timely mailing. A "Certificate of
Mailing" (U.S. Postal Service Form 3817) may be used as proof.
Alternatively, banks that use Call Report preparation software to complete their reports are encouraged
to submit their Call Reports electronically to Electronic Data Systems Corporation (EDS), the banking
agencies' collection agent. Reports submitted electronically over telephone lines will be considered timely
if transmitted to EDS by July 30, 1997. Banks filing their Call Reports electronically should not mail
hard copies of the report to any federal bank supervisory agency unless specifically requested to do so.
Banks that have or have had more than one foreign office, other than a "shell" branch or an International
Banking Facility, and that use any of the additional 15 days allowed for the completion of their reports
are required to submit their reports electronically to EDS not later than August 14, 1997.
As you were previously advised by the Federal Financial Institutions
Examination Council (see FIL-109-96,
dated December 31, 1996, and FIL-58-97 (98kb,
requires the free Adobe Acrobat Reader)
dated June 5, 1997), the Call Report forms for this quarter contain changes
to the reporting of interest rate risk-related data. In particular, all
banks, including FDIC-supervised savings banks, will begin reporting revised
maturity and repricing data for securities, loans and leases, and time
deposits in the Memoranda sections of Schedules RC-B, RC-C, part I, and
RC-E. For savings banks, these items replace supplemental Schedule RC-J
-- "Repricing Opportunities for Selected Balance Sheet Categories" --
which has been eliminated. Three interest rate risk-related items have
been added to two other Call Report schedules and the maturity information
for "Other borrowed money" on the balance sheet has been revised. For
the June 30, September 30, and December 31, 1997, report dates, banks
may report a reasonable estimate for any new or revised interest rate
risk-related item for which the requested information is not readily available.
Banks are reminded that Financial Accounting Standards Board Statement No. 125, "Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of Liabilities" (FAS 125), took effect
on January 1, 1997, except for certain provisions whose effective date has been deferred one year. Banks
must adopt FAS 125 for Call Report purposes for transactions occurring after December 31, 1996, except
for those provisions covered by the deferral. FAS 125 also applies to servicing contracts and certain
financial assets in existence before January 1, 1997. FAS 125 establishes a new accounting approach for
distinguishing transfers of financial assets that are reported as sales from transfers that are reported as
borrowings. This new approach applies to all transfers of financial assets, including loan participations
and sales of securities under repurchase agreements, and to loans in which the lending bank has a
security interest in collateral, beginning either in 1997 or 1998 depending on the type of transaction.
Banks are encouraged to consult with their outside accountants concerning the effect of FAS 125 on their
asset transfer activities and the actions needed to properly implement FAS 125.
The Call Report forms for this quarter include the annual schedule for reporting on the number and
amount currently outstanding of loans to small businesses and small farms (Schedule RC-C, part II), as
required by Section 122 of the Federal Deposit Insurance Corporation Improvement Act of 1991.
All banks are requested to report the number of deposit accounts of $100,000 or less in the deposit
insurance assessments schedule (Schedule RC-O, Memorandum item 1.a.(2)). This information is
collected only as of the June 30 report date each year, while the other Schedule RC-O items on the
number and size of deposit accounts are collected quarterly.
National banks and FDIC-supervised banks filing hard-copy Call Report forms should return only the
original signed forms to the FDIC's data entry site in Crofton, Maryland. Original signed forms that are
mailed to OCC District or FDIC Regional Offices are not considered properly addressed. The use of an
improper address may cause a bank's forms to be received at the data entry site after the submission
deadline. State member banks submitting hard-copy Call Report forms should return the original signed
forms and one copy to the appropriate Federal Reserve District Bank. The use of a telephone facsimile
machine to transmit a copy of the original signed Call Report forms is not an acceptable method of
For further information or assistance concerning the Call Reports, state member banks should contact
their Federal Reserve District Bank. National and FDIC-supervised banks should telephone the FDIC's
Call Reports Analysis Unit in Washington, D.C., toll free on (800) 688-FDIC or on (202) 898-6607,
Monday through Friday between 8:00 a.m. and 5:00 p.m., Eastern Time.
Thank you for your cooperation.
Emory W. Rushton
Senior Deputy Comptroller
for Bank Supervision Policy
Office of the
Comptroller of the Currency
Division of Banking
Supervision and Regulation
Board of Governors of the
Federal Reserve System
Nicholas J. Ketcha Jr.
Division of Supervision