FDIC – Financial Institution Letter – Summary of Deposits Survey and Filing for June 30, 2020

June 3, 2020 – The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July 31, 2020. No filing extensions will be granted.

By June 30, 2020, institutions should review their current branch office information using the FDIC’s BankFind website and submit changes through FDICconnect (FCX).

Beginning July 1, 2020, institutions may submit SOD survey, deadline is July 31, 2020.

Institutions must either complete their survey directly in central data repository (CDR) or use vendor software to prepare this, and submit their survey responses to the CDR.

Results will be published on FDIC’s deposit market share website no later than September 30, 2020.

Client Impact:

AxiomSL is currently incorporating the updates made by the regulator to the SOD Taxonomy for June 30, 2020 filing period. Please stay tuned for release announcements from the North American Application Development Team. Planned Release Date: June 29, 2020.

For more information, visit www.fdic.gov



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