Federal Financial Institutions Examination Council
3501 Fairfax Drive - Room B7081a - Arlington, VA 22226-3550 - (703) 516-5588 - FAX (703) 562-6446 - http://www.ffiec.gov
Financial Institution Letter FIL-4-2010
January 22, 2010
BANK REPORTS
TO: CHIEF EXECUTIVE OFFICER (also of interest to Chief Financial Officer)
SUBJECT: Revisions to the Consolidated Reports of Condition and Income for 2010
The Federal Financial Institutions Examination Council (FFIEC) has approved revisions to the
reporting requirements for the Consolidated Reports of Condition and Income (Call Report) for
implementation in 2010. The revisions incorporate certain modifications made in response to
comments received on the proposed changes to the Call Report that the Federal Deposit
Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of
the Currency (the agencies) published on August 19, 2009 (see FIL 47-2009). The FFIEC is
providing this advance notification to assist you in planning for these changes. The U.S. Office
of Management and Budget (OMB) must approve these changes before they become final.
The Call Report revisions for 2010 will provide data to assist the agencies in meeting their
safety and soundness and other public policy objectives by responding to such developments
as a temporary increase in the deposit insurance limit, changes in accounting standards, and
credit availability concerns. In developing these revisions, the agencies carefully considered the
purposes for which the proposed additional data would be used as well as the estimated cost
and burden to banks of reporting these data. The reporting changes, which would take effect
March 31, 2010, unless otherwise indicated, include:
• New memorandum items in Schedule RI, Income Statement, identifying the components
of other-than-temporary impairment losses on debt securities, consistent with the
presentation requirements of a recent accounting standard;
• Clarification of the instructions for reporting unused commitments in Schedule RC-L,
Derivatives and Off-Balance Sheet Items;
• Breakdowns of existing items in Schedule RC-L for unused credit card lines and other
unused commitments, with the breakdown of credit card lines required only for certain
institutions, and a related breakdown of the existing item for other loans in Schedule RC-
C, part I, Loans and Leases;
• New items in Schedule RC-C, part I, and Schedule RC-L pertaining to reverse mortgages
that would be collected annually beginning December 31, 2010;
• A breakdown of the existing item for time deposits of $100,000 or more and revisions of
existing items for brokered deposits in Schedule RC-E, Deposit Liabilities, as a result of
the temporarily increased deposit insurance coverage;Inactive
3501 Fairfax Drive - Room B7081a - Arlington, VA 22226-3550 - (703) 516-5588 - FAX (703) 562-6446 - http://www.ffiec.gov
Financial Institution Letter FIL-4-2010
January 22, 2010
BANK REPORTS
TO: CHIEF EXECUTIVE OFFICER (also of interest to Chief Financial Officer)
SUBJECT: Revisions to the Consolidated Reports of Condition and Income for 2010
The Federal Financial Institutions Examination Council (FFIEC) has approved revisions to the
reporting requirements for the Consolidated Reports of Condition and Income (Call Report) for
implementation in 2010. The revisions incorporate certain modifications made in response to
comments received on the proposed changes to the Call Report that the Federal Deposit
Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of
the Currency (the agencies) published on August 19, 2009 (see FIL 47-2009). The FFIEC is
providing this advance notification to assist you in planning for these changes. The U.S. Office
of Management and Budget (OMB) must approve these changes before they become final.
The Call Report revisions for 2010 will provide data to assist the agencies in meeting their
safety and soundness and other public policy objectives by responding to such developments
as a temporary increase in the deposit insurance limit, changes in accounting standards, and
credit availability concerns. In developing these revisions, the agencies carefully considered the
purposes for which the proposed additional data would be used as well as the estimated cost
and burden to banks of reporting these data. The reporting changes, which would take effect
March 31, 2010, unless otherwise indicated, include:
• New memorandum items in Schedule RI, Income Statement, identifying the components
of other-than-temporary impairment losses on debt securities, consistent with the
presentation requirements of a recent accounting standard;
• Clarification of the instructions for reporting unused commitments in Schedule RC-L,
Derivatives and Off-Balance Sheet Items;
• Breakdowns of existing items in Schedule RC-L for unused credit card lines and other
unused commitments, with the breakdown of credit card lines required only for certain
institutions, and a related breakdown of the existing item for other loans in Schedule RC-
C, part I, Loans and Leases;
• New items in Schedule RC-C, part I, and Schedule RC-L pertaining to reverse mortgages
that would be collected annually beginning December 31, 2010;
• A breakdown of the existing item for time deposits of $100,000 or more and revisions of
existing items for brokered deposits in Schedule RC-E, Deposit Liabilities, as a result of
the temporarily increased deposit insurance coverage;Inactive
• A change from annual to quarterly reporting for small business and small farm lending
data in Schedule RC-C, part II, Loans to Small Businesses and Small Farms, and for the
number of certain deposit accounts in Schedule RC-O, Other Data for Deposit Insurance
and FICO Assessments;
• New items in Schedule RC-M, Memoranda, for assets acquired from failed institutions that
are covered by FDIC loss-sharing agreements; and
• The elimination of the item for internal allocations of income and expense from Schedule
RI-D, Income from Foreign Offices, which is completed only by certain banks on the
FFIEC 031 report form.
The agencies currently collect data on banks’ securitization and structured finance activities in
Schedule RC-S, Servicing, Securitization, and Asset Sale Activities. Financial Accounting
Standards Board (FASB) Statements Nos. 166 and 167 on accounting for transfers of financial
assets and consolidation of variable interest entities (Topics 860 and 810 in the FASB
Accounting Standards Codification) change the conditions that must be met in order for both
existing and new securitizations to be reported as off-balance sheet transactions. After the
effective date of Statements Nos. 166 and 167, which is January 1, 2010, for most banks, a
bank should continue to report information in items 1 through 8 of Schedule RC-S only for those
securitizations for which the transferred assets qualify for sale accounting or are otherwise not
carried as assets on the bank’s consolidated balance sheet. Thus, if a securitization transaction
that qualified for sale accounting prior to the effective date of Statements Nos. 166 and 167
must be brought back onto the reporting bank’s consolidated balance sheet upon adoption of
these standards, the bank would no longer report information about the securitization in items 1
through 8 of Schedule RC-S.
To assist you in understanding the revisions to the Call Report, drafts of the report forms for
March 2010 (which also show the new December-only items for reverse mortgages) and draft
instructions for the new and revised Call Report items are available for your review on the
FFIEC’s Web site (www.ffiec.gov/ffiec_report_forms.htm). For the March 31, 2010, report date,
banks may provide reasonable estimates for any new or revised Call Report item initially
required to be reported as of that date for which the requested information is not readily
available. This policy on the use of reasonable estimates will also apply to the reporting of the
new reverse mortgage items that will be first implemented effective December 31, 2010.
Please forward this letter to the person responsible for preparing Call Reports at your institution.
For further information about the reporting revisions, state member banks should contact their
Federal Reserve District Bank. National and FDIC-supervised banks should contact the FDIC’s
Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688 FDIC
(3342) or by e-mail at insurance-research@fdic.gov.
Paul T. Sanford
Executive Secretary
Distribution:
FDIC-Supervised Banks and Savings Institutions, National Institutions, and State Member InstitutionsInactive
data in Schedule RC-C, part II, Loans to Small Businesses and Small Farms, and for the
number of certain deposit accounts in Schedule RC-O, Other Data for Deposit Insurance
and FICO Assessments;
• New items in Schedule RC-M, Memoranda, for assets acquired from failed institutions that
are covered by FDIC loss-sharing agreements; and
• The elimination of the item for internal allocations of income and expense from Schedule
RI-D, Income from Foreign Offices, which is completed only by certain banks on the
FFIEC 031 report form.
The agencies currently collect data on banks’ securitization and structured finance activities in
Schedule RC-S, Servicing, Securitization, and Asset Sale Activities. Financial Accounting
Standards Board (FASB) Statements Nos. 166 and 167 on accounting for transfers of financial
assets and consolidation of variable interest entities (Topics 860 and 810 in the FASB
Accounting Standards Codification) change the conditions that must be met in order for both
existing and new securitizations to be reported as off-balance sheet transactions. After the
effective date of Statements Nos. 166 and 167, which is January 1, 2010, for most banks, a
bank should continue to report information in items 1 through 8 of Schedule RC-S only for those
securitizations for which the transferred assets qualify for sale accounting or are otherwise not
carried as assets on the bank’s consolidated balance sheet. Thus, if a securitization transaction
that qualified for sale accounting prior to the effective date of Statements Nos. 166 and 167
must be brought back onto the reporting bank’s consolidated balance sheet upon adoption of
these standards, the bank would no longer report information about the securitization in items 1
through 8 of Schedule RC-S.
To assist you in understanding the revisions to the Call Report, drafts of the report forms for
March 2010 (which also show the new December-only items for reverse mortgages) and draft
instructions for the new and revised Call Report items are available for your review on the
FFIEC’s Web site (www.ffiec.gov/ffiec_report_forms.htm). For the March 31, 2010, report date,
banks may provide reasonable estimates for any new or revised Call Report item initially
required to be reported as of that date for which the requested information is not readily
available. This policy on the use of reasonable estimates will also apply to the reporting of the
new reverse mortgage items that will be first implemented effective December 31, 2010.
Please forward this letter to the person responsible for preparing Call Reports at your institution.
For further information about the reporting revisions, state member banks should contact their
Federal Reserve District Bank. National and FDIC-supervised banks should contact the FDIC’s
Data Collection and Analysis Section in Washington, D.C., by telephone at (800) 688 FDIC
(3342) or by e-mail at insurance-research@fdic.gov.
Paul T. Sanford
Executive Secretary
Distribution:
FDIC-Supervised Banks and Savings Institutions, National Institutions, and State Member InstitutionsInactive