04 Apr FDIC – Guidance on Consolidated Reports of Condition and Income for First Quarter 2021 (Call Reports)
April 4, 2021 – FDIC issued letter on upcoming deadlines for the call reports. Reiterated agencies’ interim final rule, to determine asset thresholds, and highlighted the December 2020 supplemental instructions, primarily to calculate regulatory capital. These additional instructions were provided to address impact of pandemic, on firms.
1Q 2021 Call Report Guidance
Underscores previous rules and instructions, to help firms determine or calculate data. The interim rule allows temporary asset threshold determination, given the impact of the stimulus. Flexibility to select calendar year and calculate assets, based on firm size; separates guidance for firms $10 Billion or less in total assets, from those exceeding the $10 billion thresholds. Additionally, the rule helps firms determine if they crossed certain asset thresholds, such as $5 Billion, $1 Billion, $300 Million, $100 Million, that require additional Call Report information. Regarding Covid-related reporting changes, instructions include a revision to the calculation of regulatory capital, extensions of credit to insiders, and definitions of certain deposits.
The deadline for submission is April 30, 2021, with the exception of institutions with more than one foreign office having their filing date extended to May 5, 2021.
For more information, visit www.fdic.gov.