SUBJECT: Consolidated Reports of Condition and Income for First Quarter 2010
The attached materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the March 31, 2010, report date. Please plan to complete the preparation, editing, and review of your bank’s Call Report data and the submission of these data to the agencies’ Central Data Repository (CDR) as early as possible. Starting your preparation early will aid you in identifying and resolving any edit exceptions prior to the submission deadline. If you later find that certain information needs to be revised, please make the appropriate changes to your data and promptly submit the revised data file to the CDR.
Except for certain banks with foreign offices, your completed Call Report must be received by Friday, April 30, 2010, in accordance with the filing requirements discussed below. No extensions of time for submitting Call Report data are granted.
As the Federal Financial Institutions Examination Council (FFIEC) previously advised you, the agencies are implementing revisions to the Call Report this quarter (see FIL 4 2010, dated January 22, 2010). These reporting changes, which have been approved by the U.S. Office of Management and Budget, include new or revised items pertaining to:
Other-than-temporary impairment losses on debt securities in Schedule RI, Income Statement;
Certain unused commitments in Schedule RC-L, Derivatives and Off-Balance Sheet Items;
Loans to nondepository financial institutions in Schedule RC-C, part I, Loans and Leases;
Time deposits of $100,000 or more and brokered deposits in Schedule RC-E, Deposit Liabilities; and
Assets covered by Federal Deposit Insurance Corporation (FDIC) loss-sharing agreements in Schedule RC-M, Memoranda.
Data on small business and small farm lending in Schedule RC-C, part II, Loans to Small Businesses and Small Farms, and on the number of certain deposit accounts in Schedule RC-O, Other Data for Deposit Insurance and FICO Assessments, will be collected quarterly rather than annually beginning this quarter. The instructions for reporting unused commitments in Schedule RC-L have been clarified. In addition, updated instructions for Schedule RC-S, Servicing, Securitization, and Asset Sale Activities, indicate that banks should report only those securitizations for which the transferred assets qualify for sale accounting or are otherwise not carried as assets on the bank’s consolidated balance sheet. Banks should also note that new items in Schedule RC-C, part I, and Schedule RC-L pertaining to reverse mortgages will be collected annually beginning December 31, 2010. For the March 31, 2010, report date, banks may provide reasonable estimates for any new or revised Call Report item initially required to be reported as of that date for which the requested information is not readily available.
Sample Call Report forms for the March 31, 2010, report date are available on the FFIEC’s Web site (http://www.ffiec.gov/ffiec_report_forms.htm). An instruction book update for March 2010 is expected to be available on this Web site by April 2, 2010. In the interim, draft instructions for the new and revised Call Report items being implemented this quarter are available on the FFIEC’s Web site. In addition, banks should refer to this quarter’s attached Supplemental Instructions for additional guidance on certain reporting issues. Report forms and instructional materials can be both printed and downloaded from the FFIEC’s Web site. Please notify the person responsible for preparing Call Reports at your bank about the electronic availability of the report forms, instruction book update, and Supplemental Instructions for March 2010.
Each bank must file its March 31, 2010, Call Report data in one of the following two ways:
A bank may use computer software to prepare and edit its report data and then electronically submit the data directly to the CDR (https://cdr.ffiec.gov/cdr/).
A bank may complete its report in paper form and arrange with a software vendor or another party to convert its paper report into the electronic format that can be processed by the CDR. The software vendor or other party then must electronically submit the bank’s Call Report data file to the CDR.
Electronic submission of Call Report data will be considered timely if the data are received by the CDR no later than Friday, April 30, 2010, and pass FFIEC-published validation criteria (validity edits and quality edits) or, where necessary, contain explanations for any quality edits that are not passed. Explanatory comments should be prepared consistent with the “Guidelines for Resolving Edits” that are published on the FFIEC’s Web site at http://www.ffiec.gov/find/documents/resolvingedits.pdf
A bank that has more than one foreign office, other than a “shell” branch or an International Banking Facility, is permitted an additional five calendar days to submit its Call Report data. Such a bank must electronically transmit its data to the CDR no later than Wednesday, May 5, 2010. 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.
For technical assistance with the CDR, banks should contact the CDR Help Desk by telephone at (888) CDR 3111, by fax at (703) 774-3946, or by e-mail at CDR.Help@ffiec.gov. For further information concerning the Call Report itself, 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) or by e-mail at insurance firstname.lastname@example.org.
Timothy W. Long
Chief National Bank
Office of the
Comptroller of the
Patrick M. Parkinson
Division of Banking
Board of Governors of
Sandra L. Thompson