Proposed Agency Information Collection Activities; Comment Request (Regulators propose revisions to and extension of the call report filing requirements of (foreign) banks and of certain asset and liabilities reports of foreign banks and branches)

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FED), and the Federal Deposit Insurance Corporation (FDIC) are requesting comments on their proposed revised data collection in connection with „Call Reports“ and the FFIEC 002 and 002S reports. Call reports must be filed by all banks and bank holding companies located in the US. They consist of a summary of documentations such as loan and deposit information, investment information including asset sale information, changes in the bank’s capital information, and the regular financial statements including income statement and balance sheet.
The affected reports subject to proposed revisions are the following:
– FFIEC 031 – Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices.
– FFIEC 041 – Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only.
– FFIEC 051 – Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less Than $5 Billion.
– FFIEC 002 – Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Bank.
– FFIEC 002S – Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank.
The reports or their instructions would thereby be revised to
(1) „eliminate and consolidate items in the Call Reports and the FFIEC 002“ such as the removal of details on loss sharing agreements between the FDIC and an institution taking over assets from a failing institution or the removal of certain items pertaining to negative amortization loans (those where borrowers pay less than the required interest amount and the difference is added to their principal); and
(2) clarify and refine information to be reported on securitizations in the Call Report, including securitizations issued or backed by the U.S. government.
Additionally, the regulators seek comments on their proposal to only provide the instructions for the Call Reports in pdf format and to no longer provide the „optional tax worksheet“ that permits institutions to calculate their income taxes based on the FFIEC 041 and FFIEC 051 Call Reports.
All revisions would be effective as of the June 30, 2023 report date.