Call Reports revisions

The FDIC yesterday issued FIL-26-2024 announcing revisions to Call Reports and the FFIEC 002 Report as published [89 FR 45046] on May 22, 2024, in the Federal Register.

Proposed changes were issued on September 28, 2023 (FIL-52-2023) and December 27, 2023 (FIL-68-2023). After considering the comments received on these notices, the agencies are moving forward with certain proposed revisions related to replacing references to “troubled debt restructurings” with “modifications to borrowers experiencing financial difficulty” consistent with ASU 2022-02, the reporting on the internet website addresses of depository institution trade names, and the adoption of the standards for electronic signatures. These updates to the Call Report and FFIEC 002 report forms and instructions will be effective as of the June 30, 2024, report date.

The agencies are implementing revisions related to reporting of loans to NDFIs as of the December 31, 2024, report date. The agencies are also adding a new Memorandum item that would identify the amounts reported as a structured financial product that are guaranteed by U.S. Government agencies or sponsored agencies, which would be effective as of the December 31, 2024, report date.

The agencies are continuing to review comment letters related to loan modifications to borrowers experiencing financial difficulty under ASU 2022-02, as well as the proposed clarification on the reporting of past due loans and proposed reporting of long-term debt requirements, for further changes to the Call Report and the FFIEC 002. Comments on the May 22, 2024, Federal Register notice will be accepted through June 21, 2024.