Oklahoma Bankers Association We make bankers better!
The FDIC has announced a new, streamlined call report is available for use in the second quarter by smaller traditional banks that meet the requirements for its use.
Generally, the new report will be available for those banks with total assets less than $1 billion and only have domestic offices.
“The FDIC announced the availability of the new form as part of an effort to reduce data reporting,” OBA President and CEO Roger Beverage said. “As we noted at the time, this is a great first step, but we hope it’s not the end of the process. Serious revisions to the call report as it applies to all banks are in order.”
Here the highlights from the FDIC announcement:
Eligible small institutions have the option to file either the FFIEC 051 or the FFIEC 041 Call Report.
An eligible institution may continue to use the FFIEC 041 this quarter and wait until a subsequent quarter in 2017 to start using the new FFIEC 051.
Beginning in 2018, an eligible institution would be expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during the year.
The first quarter 2017 Call Reports also incorporate a number of other Call Report revisions that were finalized in mid-2016. (see FIL-44-2016 and FIL-45-2016).
The Call Report forms for March 2017 are available on the FFIEC’s website at www.ffiec.gov/ffiec_report_forms.htm and the FDIC’s website at www.fdic.gov/callreports.
A separate new FFIEC 051 instruction book and an update for the instruction book for the FFIEC 031 and FFIEC 041 are expected to be available on the FFIEC’s website by April 7.
Institutions should review FIL-14-2017 and its accompanying Supplemental Instructions for further information on the first quarter 2017 Call Report.
For assistance with CDR system-related issues, contact the CDR Help Desk by telephone at 888-CDR-3111, by or by email at CDR.Help@ffiec.gov between 8 a.m. and 7 p.m. CDT, Monday through Friday, and Saturday, April 29.