The FDIC, the Federal Reserve Board and the Office of the Comptroller of the Currency ("OCC"), with the help of the Federal Financial Institutions Examination Council ("FFIEC"), proposed revisions to the Consolidated Reports of Condition and Income ("Call Report") and other FFIEC reports. The proposed revisions are in response to changes in accounting for credit losses under the Financial Accounting Standards Board's Accounting Standards Update.
The proposed revisions - arising from the Economic Growth, Regulatory Relief and Consumer Protection Act - relate to the reporting of high-volatility commercial real estate exposures and reciprocal deposits. Effective on September 30, 2018, (i) Call Report Schedule RC-E ("Deposit Liabilities") will include a new memorandum item for "total reciprocal deposits," and (ii) institutions will report their "total reciprocal deposits as of June 30, 2018" in Schedule RC-E.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
