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Jul 6, 2016

FDIC Financial Institution Letter - July 6, 2016: Consolidated Reports of Condition and Income


Financial Institution Letter

Consolidated Reports of Condition and IncomeFIL-45-2016
Summary:As part of its community bank Call Report burden-reduction initiative, the Federal Financial Institutions Examination Council (FFIEC) has approved a number of burden-reducing changes to the Consolidated Reports of Condition and Income (Call Report) as well as certain new and revised data items and instructional revisions. Subject to approval by the U.S. Office of Management and Budget, these Call Report revisions will take effect September 30, 2016, orMarch 31, 2017, depending on the change.
Statement of Applicability to Institutions under $1 Billion in Total Assets:This Financial Institution Letter applies to all FDIC-supervised commercial and savings banks, including community institutions. Institutions under $1 billion in total assets should benefit from the burden-reducing changes. Because of the nature of the new and revised Call Report data items, they should have a limited impact on community institutions.