Proposed Agency Information Collection Activities; Comment Request (U.S. banking 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 bank 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 the „Call Reports“ and the FFIEC 002 and 002S reports. Call reports must be filed by all banks and bank holding companies located in the U.S. 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.
Among others, the reports or their instructions would be revised to
– enhance granularity in reporting exposures to Non-Depository Financial Institutions (NDFIs). The proposed revisions – which would be effective from June 30, 2024 – include adding details on the types of loans to be reported, grouping similar loans to address reporting inconsistencies, and capturing more specific information on direct lending exposures to NDFIs. Various schedules would thereby be updated, including the
– RC–C, Part I on Loans and Leases;
– Schedule RC–L on Derivatives and Off-Balance Sheet Items; and
– Schedule RC–N on Past Due and Nonaccrual Loans, Leases, and Other Assets.
– make corresponding adjustments to the filing instructions for the FFIEC 002 reports.
– facilitate the reporting of the Long-Term Debt (LTD) as currently proposed by revising Schedule RC–R, Part I to include new line items to monitor compliance with the proposed requirements. These changes would not come into force until the LTD requirement has been finalized and become effective.
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For detailed information on the proposed revisions, please refer to the original legal document.