02 Dec Federal Reserve Board (FRB) – FFIEC 031, FFIEC 041, FFIEC 051, FR Y-9, FR Y-7N, FR Y-11, FR Y-11s, FR Y-11NS, FR 2314, FR 2314s

December 2, 2020

DRAFT

FFIEC 031, FFIEC 041, FFIEC 051

Initial Federal Register link was posted.

Client Impact:

Propose using as-of 12/31/2019 Call reports (if less than 6/30/2020) to determine total asset thresholds, more specifically for institutions with <$10 billion (Community Banking Organizations). This is due to the potential growth of assets caused by COVID-related lending (i.e. institutions PPP lending) which may cross thresholds, triggering additional reporting requirements.

FR Y-9, FR Y-7N, FR Y-11, FR Y-11s, FR Y-11NS, FR 2314, FR 2314s

Federal Register link was posted.

Client Impact:

Temporary revision of instructions to allow using as-of 12/31/2019 reporting to determine total asset thresholds for institutions with <$10 billion (Community Banking Organizations) for 2020 & 2021 reporting. This is due to the potential growth of assets caused by COVID-related lending (i.e. institutions PPP lending) which may cross thresholds, triggering additional reporting requirements.

For more information, visit www.FederalReserve.gov.