Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
March 22, 2004
CHIEF EXECUTIVE OFFICER
Reports of Condition and Income (Call Report) for First Quarter 2004
The enclosed materials pertain to the Reports of Condition and Income (Call Report) for the March 31, 2004, report date. Please complete your first quarter Call Report, review it for accuracy, and submit the report electronically as soon as possible. Except for certain banks with foreign offices, your completed report must be received by April 30, 2004, in accordance with the filing requirements discussed below. No extensions of time for submitting reports are granted.
If you complete the preparation, editing, and review of your Call Report before the submission deadline, please file the report immediately rather than waiting. Early submission aids the banking agencies in their editing, review, and analysis of the reports. If you later find that certain information needs to be revised, please make the appropriate changes to your Call Report and promptly submit the revised data.
A sample set of March 31, 2004, report forms is enclosed. The sample forms also are available on both the Federal Financial Institutions Examination Council's (FFIEC) Web site (www.ffiec.gov/ffiec_report_forms.htm) and the Federal Deposit Insurance Corporation's (FDIC) Web site (www.fdic.gov/regulations/resources/call/index.html). As you were previously advised by the banking agencies, banks will begin to submit contact information for the authorized officer who signs their Call Report this quarter. In connection with this change, the contact information for the person to whom questions about the Call Report should be directed has been modified and moved to the contact information page in the sample forms. This contact information will be afforded confidential treatment. The agencies are not adding any other new items to the Call Report for March 31, 2004.
All banks are reminded to provide information on the level of auditing work performed by independent external auditors during 2003 (Schedule RC, Memorandum item 1). This information is reported only as of the March 31 report date each year. In addition, institutions with more than $250 million in fiduciary assets as of December 31, 2003, or whose gross fiduciary and related services income exceeded 10 percent of revenue during 2003 must report information on their trust assets and income each quarter in Schedule RC-T, Fiduciary and Related Services.
Under the auspices of the FFIEC, the agencies are building a central data repository (CDR) to modernize and streamline the collection, validation, distribution, and use of Call Report data. Implementation of the CDR is targeted for October 2004, and banks will transmit their September 30, 2004, Call Report data through the Internet to the CDR. The new CDR system will require banks to validate their Call Report data before the data are accepted by the agencies. Institutions must continue to submit their Call Report data on time, but they will need to begin their preparations earlier than at present. Call Report software vendors are revising their products to assist bankers in meeting the agencies' new requirements. For further information on the agencies' Call Report modernization initiative and the CDR, please refer to Financial Institution Letter (FIL) 30-2004 dated March 18, 2004, and check for periodic updates on this initiative on the FFIEC's Web site at www.ffiec.gov/find/.
Each bank must file its March 31, 2004, Call Report in one of the following two ways:
A bank may use computer software to prepare and edit its report and then file the report directly with the banking agencies' electronic collection agent, Electronic Data Systems Corporation (EDS). The Call Report data file can be sent to EDS electronically by modem or on a computer diskette.
A bank may complete its report in paper form and arrange with a Call Report software vendor or another party to convert its paper report to electronic form. That party must electronically transmit the bank's Call Report data file to EDS. (Please note that EDS no longer offers this service.)
The filing of a Call Report that is submitted electronically to EDS by modem will be considered timely if it is transmitted to EDS no later than April 30, 2004. A bank that submits its Call Report to EDS on a computer diskette must make sure that the diskette is properly addressed, mailed first class, and postmarked on or before April 27, 2004, to be considered filed on time. Alternatively, a bank may send the diskette to EDS using an overnight delivery system no later than April 29, 2004. However, a computer diskette that EDS cannot read will not be accepted and the bank must resubmit its report in readable form. This may result in EDS receiving the bank's Call Report data file after the submission deadline.
A bank that has or has had more than one foreign office, other than a "shell" branch or an International Banking Facility, currently is permitted an additional 15 days to complete its Call Report. Such a bank is required to electronically transmit its report to EDS no later than May 15, 2004. Please note that this 45 day filing period will be reduced to 40 calendar days effective June 30, 2004, and to 35 calendar days effective June 30, 2005. In addition, on or about April 30, 2004, the FDIC expects to conduct a telephone survey of some banks with more than one foreign office to obtain certain deposit data needed to estimate insured deposits.
For further information or assistance concerning the Call Report, state member banks should contact their Federal Reserve District Bank. National and FDIC-supervised banks should contact the FDIC's Reports Analysis and Quality Control Section in Washington, D.C., by telephone at (800) 688 FDIC (3342), Monday through Friday between 8:00 a.m. and 5:00 p.m., Eastern Time, or by e-mail at insurance firstname.lastname@example.org. Thank you for your cooperation.
Emory W. Rushton
Senior Deputy Comptroller and
Chief National Bank Examiner
Office of the
Comptroller of the Currency
Division of Banking
Supervision and Regulation
Board of Governors of the
Federal Reserve System
Michael J. Zamorski
Division of Supervision and