Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Board of Governors of the Federal Reserve System
March 17, 2005
CHIEF EXECUTIVE OFFICER
Reports of Condition and Income (Call Report) for First Quarter 2005
The enclosed materials pertain to the Reports of Condition and Income (Call Report) for the March 31, 2005, 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, 2005, 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.
All banks are reminded to provide information on the level of auditing work performed by independent external auditors during 2004 (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, 2004, or whose gross fiduciary and related services income exceeded 10 percent of revenue during 2004 must report information on their trust assets and income each quarter in 2005 in Schedule RC-T, Fiduciary and Related Services.
The agencies continue to work toward implementation of the Central Data Repository (CDR), the Internet-based system they are creating to modernize and streamline how Call Report data are collected, validated, managed, and distributed. Now planned for implementation on October 1, 2005, the CDR is currently being tested with Call Report software vendors and will be tested with banks beginning in late May.
Submitting Call Report data through the CDR will be mandatory once this new system is implemented. Bank enrollment in the CDR, a prerequisite to using this new system, is scheduled for this summer. Enrollment instructions will be sent to banks in a separate Financial Institution Letter before enrollment begins. Banks will need to have reliable Internet access and use a Web browser (Microsoft Internet Explorer 6.0 or Netscape Navigator 7.0 or higher) that supports U.S. domestic encryption standards (128 bit or higher) prior to enrollment.
In preparation for enrolling in the CDR, banks should ensure that they accurately submit the required contact information for the authorized officer who signs their Call Report. This contact information is afforded confidential treatment by the agencies and will be used for verification purposes during enrollment. Additional information about CDR enrollment and implementation is available at www.ffiec.gov/FIND.
Each bank must file its March 31, 2005, 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.
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, 2005. 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, 2005, 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, 2005. 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 more than one foreign office, other than a “shell” branch or an International Banking Facility, is permitted an additional 10 calendar days to complete its Call Report. Such a bank is required to electronically transmit its report to EDS no later than May 10, 2005. In addition, on or about each April 30 and October 30, the FDIC conducts a telephone survey of some banks with more than one foreign office to obtain certain deposit data needed to estimate insured deposits.
Please note that the agencies have postponed for one year the reduction in the filing period for banks with more than one foreign office that had been scheduled to take effect June 30, 2005. The reduction in the filing period from 40 to 35 calendar days will now become effective June 30, 2006. This postponement is consistent with recent actions taken by the Federal Reserve Board and the Securities and Exchange Commission with respect to similar scheduled reductions in the filing periods for FR Y-9C bank holding company reports and Form 10-Q reports, respectively, for certain organizations.
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 Data Collection and Analysis 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 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