Each depositor insured to at least $250,000 per insured bank

Background

On July 7, 2011, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) published a final notice in the Federal Register to notify OTS-regulated savings institutions of the conversion from filing the Thrift Financial Report (TFR) to filing the Consolidated Reports of Condition and Income (Call Report) beginning with the reporting period ending March 31, 2012.

The information provided here will assist institutions in preparing for the conversion to the Call Report.

Call Report Instructions

A printed set of Call Report instructions, updated through June 2011, will be mailed to all institutions converting to the Call Report. Each quarter, the Call Report agencies issue a Financial Institution Letter (FIL) with reporting guidance for that quarter. The FIL includes links to that quarter’s Call Report forms, supplemental instructions, and, if applicable, an instruction book update. These materials will not be mailed to your institution. If an instruction book update is issued, you will need to print the update and file the updated pages in your Call Report instructions manual. Report forms, supplemental instructions, and instruction book updates are available on the Federal Financial Institutions Examination Council’s (FFIEC) Web site: (http://www.ffiec.gov/ffiec_report_forms.htm) and on the FDIC’s Web site: (http://www.fdic.gov/regulations/resources/call/index.html).

The Central Data Repository

Each institution’s Call Report data must be submitted to the FFIEC’s Central Data Repository (CDR), an Internet-based system for data collection (https://cdr.ffiec.gov/cdr/). The CDR is a secure Internet-based system developed jointly by the agencies to collect, validate, manage, and distribute financial institution data.

If you have not already done so, you should request an account with the CDR so that you will be able to submit your Call Report successfully. Instructions for accessing the CDR are available at https://cdr.ffiec.gov/CDR/. From the CDR Web site, click on “Help” in the top right corner, and follow the instructions provided for financial institutions. Technical assistance with CDR account enrollment is available through the CDR Help Desk:

Call Report Software

Most institutions utilize Call Report software to prepare and submit the Call Report to the CDR. A list of software vendors that meet the technical specifications and data validation requirements for the CDR appears on the last page of the Call Report Supplemental Instructions each quarter. The September 2011 Supplemental Instructions are available at http://www.fdic.gov/news/news/financial/2011/fil11066a.pdf.

Call Report Submission Guidelines

Electronic submission of an institution’s Call Report is considered timely if it is received no later than the filing deadline, and the report passes validity edits and quality edits or, where necessary, contains explanatory comments prepared in accordance with the “Guidelines for Resolving Edits” published on the FFIEC’s Web site at http://www.ffiec.gov/find/documents/resolvingedits.pdf.

Once a Call Report has been submitted to the CDR, the institution will promptly receive an e-mail notification indicating that the Call Report has been submitted and will then receive an e-mail notification indicating that the report has been accepted or rejected. Edit checks are automatically run against the data to verify its validity and quality. If the Call Report is rejected, the institution will be provided reason(s) for the rejection. The institution is then required to provide explanations or amend data, and resubmit the Call Report.

Amended Call Reports are submitted in the same manner as original submissions and may be submitted at any time to correct reporting errors. Amendments may also be requested by your Call Report Analyst to resolve edit exceptions or by examiners as part of examination activities. Refer to “Amended Reports” in the Call Report General Instructions for additional information.

Institutions are required to maintain in their files a signed and attested hard-copy record of the Call Report data file submitted to the CDR. A copy of the cover page printed from Call Report software or from the FFIEC’s Web site should be used to fulfill the signature and attestation requirement. The signed cover page should be attached to the hard-copy record of the Call Report data file that must be placed in the institution's files.

Call Report Assistance

For specific reporting questions, institutions should continue to contact their assigned financial reporting analyst. The former OTS staff responsible for the TFR have been transferred to the FDIC’s Data Collection and Analysis Section, and in most cases, an institution’s assigned analyst will remain the same. Institutions unsure of their assigned analyst may contact the FDIC’s Data Collection and Analysis Section by telephone at (800) 688-FDIC (3342) or complete the request form.

Early Adopter Guidelines

Savings Institutions that file the TFR are permitted to “early adopt” by filing a Call Report beginning with the September 30, 2011, or December 31, 2011, reporting cycle.

Instructions to early adopters were published in the final Federal Register notice regarding report conversion:

“The agencies request that savings associations planning to file a Call Report in 2011 for the last two reporting periods, or the last reporting period, should notify their primary federal regulator (and state regulator where applicable) and the FRD analyst assigned to their institution at least two weeks before the Call Report due date which is 30 calendar days after the quarter-end report date. This will allow for the necessary systems adjustments to the CDR for Call Report collection and processing. Once a savings association has elected to adopt the Call Report early in 2011, it must continue to file the Call Report for the remainder of the early adoption period, and such Call Reports will be subject to all applicable data standards and requirements.”

Accordingly, any institution that intends to file a December 31, 2011, Call Report must notify its assigned financial reporting analyst no later than January 16, 2012.

Early Adopters are required to continue filing all other applicable reports (Cost of Funds, Holding Company, and CMR). The Electronic Filing System Software (EFS) has been updated to allow the filing of COF, CMR, and HC schedules as normally required. Once an institution elects to early adopt the Call Report, it must continue to file the Call Report for the remainder of the early adoption period.

Frequently Asked Questions

Answers to frequently asked questions will be posted as necessary.