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Federal Reserve Bank OF DALLAS ROBERT D. M C T E E R , J R . P R E S ID E N T A N D CHIE F E X E C U T IV E O F F IC E R June 29, 1992 DALLAS. T EXA S 7 5 2 2 2 Notice 92-54 TO: The Chief Executive Officer of each member bank and others concerned in the Eleventh Federal Reserve District SUBJECT Uniform Policy Concerning the Frequency and Time of Changes to the Consolidated Reports of Condition and Income DETAILS The Federal Financial Institutions Examination Council announced that the federal banking agencies have adopted a uniform formal policy concerning the frequency and timing of changes to their regulatory reports. These reports are the Consolidated Reports of Condition and Income (Call Reports), filed by insured commercial banks and FDIC-supervised savings banks; the Thrift Financial Report, filed by savings associations; the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks, filed by these branches and agencies; and the Foreign Branch Report of Condition, filed by U.S. bank branches located in a foreign country, Puerto Rico, or a U.S. territory or possession. The agencies are the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. Under this advance notification policy, the agencies will announce prior to the end of each year all reporting changes that will take affect in the following year, subject to certain exceptions. This will ensure that depository institutions have at least 90 d a y s ’ notice of changes in their regulatory reporting requirements. The policy applies not only to the addition of new line items to the report forms, but also to certain instruc tional changes. The agencies have adopted this formal policy to promote interagency consistency and to lessen the regulatory burden that reporting changes often impose on federally supervised depository institutions. ATTACHMENT A copy of the FFIEC’s policy statement is attached. For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intraslate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) - 2 - MORE INFORMATION For more information, please contact Marion White at (214) 744-7490. For additional copies of this B a n k ’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely yours, Policy Statement on Changes in Regulatory Reporting Reguirements Under the auspices Examination agencies Federal Council (the freguency the a the by for Effective prior that to will regulatory four federal banking Insurance Corporation, the the of Thrift formal of changes of are concerning the policy immediately, end Supervision) each to their the year regulatory agencies will all reporting take effect in the following year. The to this policy are deletions of items from reports and reporting changes reguired by or regulation, necessitated by new standards issued accounting majority Office timing exceptions statute the Deposit uniform and reports.— / only (FFIEC), Federal and establishing changes the Federal Financial Institutions Reserve Board, the Office of the Comptroller of the Currency, announce of vote safety and standards of setting bodies, or determined by the members of the FFIEC to be necessary soundness, insurance assessment, or other regulatory reasons. —' These regulatory reports are the Consolidated Reports of Condition and Income (Call Reports) filed by insured commercial banks and FDIC-supervised savings banks, the Thrift Financial Report filed by savings associations, the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks filed by these branches and agencies, and the Foreign Branch Report of Condition filed by U.S. bank branches located in a foreign country, Puerto Rico, or a U.S. territory or possession. 2 - Revisions often to add the to reports the reporting on At Thus, the the in that these reguired supervised time, depository however, regulatory must address developments affecting and anticipate the agencies' need response agencies' burden same institutions information content of regulatory reports federally reguirements depository and regulatory impose institutions. for form - to ongoing industry changes. regulatory reports will of necessity remain dynamic documents. This new that, formal policy supersedes an informal FFIEC policy in Call general, Report date. forms to once a year as of the March 31 report Under committed notice that informal policy, the agencies had only themselves of believe had sought to limit changes to the bank these it notification is to give reporting at least two months advance changes. The agencies now appropriate to provide for a longer advance period for changes to the Call Report and similar regulatory reports. This advance addition certain notification applies not only to the of new line items to the report forms, but also to revisions to the instructions for the preparation of these regulatory reports. by this all policy Instructional changes covered policy are those that have the effect of reguiring banks, thrifts, U.S. branches and agencies of foreign - banks, types items, their 3 - or foreign branches of U.S. banks to report specific of on- or off-balance sheet items, events, report instructions adopted or transactions in a different line item on forms that statutes, accounting than bring in them regulations, standards, reguirements, income statement the past. into Revisions to the conformity with newly supervisory clarify policies, existing or reporting correct outdated information, or make changes of a similar nature will continue to be made as necessary. Reporting institutions reporting changes remainder of including 1992 various should note that several regulatory are expected to be introduced during the in response to recent statutory changes provisions of the Federal Insurance Corporation Improvement Act of 1991. Deposit