Agencies to Move Forward with Call Report Changes

The federal regulatory agencies today announced that they will move forward with several proposed revisions to the Call Report for which the American Bankers Association has long advocated. The changes would simplify the Call Report for many banks by removing or consolidating a number of existing data items, reducing the reporting frequency for other data items and increasing certain reporting thresholds. Implementation of the revised Call Report will also be delayed from March 31 to June 30, the agencies said.

In addition to these revisions, the agencies announced other changes that will provide greater transparency on the effect of unrealized gains and losses on certain equity investments, maintaining consistency with changes to accounting standards. These changes will be effective March 31.

Following concerns raised by the industry, the agencies are also reconsidering a proposal to align the method for determining the past-due status of certain loans and other assets with an accepted industry standard. ABA noted in previous comments that doing so would “impose significant costs on the industry with little regulatory or supervisory benefit.”

Finally, the agencies announced that they will move forward with moving banks with more than $100 billion in assets to the FFIEC 031 — effectively creating three Call Reports — a proposal which ABA previously opposed. For more information, contact ABA’s Alison Touhey.