Federal Financial Institutions Examination Council	Press Release
For Immediate Release	November 2, 2000

Revisions to the Reports of Condition and Income (Call Report) for 2001

The Federal Financial Institutions Examination Council (FFIEC) today announced that it has approved revisions to the reporting requirements for the Reports of Condition and Income (Call Report) for 2001. Call Reports are filed quarterly with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency by all insured commercial banks and FDIC-supervised savings banks. The Call Report includes a balance sheet, income statement, and supporting schedules providing additional information on bank assets, liabilities, off-balance sheet activities, and regulatory capital.

On May 31, 2000, the three banking agencies, under the auspices of the FFIEC, requested comment on proposed revisions to the Call Report that would take effect March 31, 2001. These reporting changes are designed to make the content of the Call Report more relevant to the banking agencies in today's evolving financial services environment and to complement the agencies' emphasis on risk-focused supervision. The revisions also address certain aspects of Sections 307(b) and (c) of the Riegle Community Development and Regulatory Improvement Act of 1994. These sections direct the banking agencies to work jointly toward more uniform reporting, to review the information that institutions currently report, and to eliminate existing reporting requirements that are not warranted for safety and soundness or other public policy purposes.

The agencies received approximately 110 comments on the Call Report proposal from various segments of the public, including banking organizations, banking trade groups, community groups, and state bank supervisors. The regulatory reporting revisions approved by the FFIEC incorporate modifications made to the proposal in response to the comments received. The U.S. Office of Management and Budget also must approve these revisions before they can become final.

The FFIEC's modifications to the Call Report proposal include deferring the implementation dates for the collection of new data on securitizations and the new trust activities schedule until later in 2001. In addition, the proposed collection of data on subprime lending activities has been delayed until further notice. The attachment describes these deferred effective dates and the other decisions that the FFIEC has made concerning the revisions contained in the May 31 proposal.

The FFIEC will send banks a Financial Institution Letter providing more detailed information about the Call Report revisions for 2001 within the next month.

 

Attachment: Status of the Revisions to the Call Report Contained in the Banking Agencies' May 31, 2000, Proposal