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FEDERAL RESERVE BANK OF NEW YORK Circular No. 9364 September 17, 1982 CALL REPORTS Data on Past-Due and Other Nonperforming Loans To A ll State Member Banks, Multi-Bank Holding Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued on September 15 by the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System: The three federal bank regulatory agencies—the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency—announced today that all FDIC-insured commercial banks will begin reporting data on past-due and other nonperforming loans at the end of the year. For national banks, the new report will replace a past-due loan schedule that has been submitted to the Comptroller's Office for a number of years. The Office of Management and Budget today granted the agencies approval to collect data in the form of a new supervisory supplement to the Reports of Condition and Income (Call Reports) filed by ail federally insured banks with federal regulators. The new information will be collected quarterly beginning with the December 31, 1982 reports and will be made available to the public beginning with the June 30, 1983 reports. The agencies originally had hoped to institute the new supplement beginning September 30, 1982. However, it has been determined that the delay until December is needed to give reporting banks more time to prepare for the new requirements. The delay until the mid-1983 Reports in making the information available to the public will permit time to resolve problems that may arise in the reporting and processing of the data. The agencies said reports such as the new supplement are critically important to their efforts to upgrade their off-site computerized monitoring systems and thus reduce the burden placed on banks in on-site examinations. Improvements in such systems, the regulators said, not only will help improve their surveillance of banks but will also lower their costs and reduce the overall burden on banks. In addition to providing better current data to bank regulators, the information should be of benefit to the depositing public and to other bank creditors and to bank investors. The agencies noted that public disclosure of this type is in line with an increased emphasis on marketplace discipline and bank deregulation. They also noted that, under the securities laws, registered bank holding companies already disclose similar types of information. In commenting on this and other changes in the Call Report mandated by the Federal Financial Institutions Examination Council, a number of banks and banking organizations said they recognized the regulators’ need for additional information but objected to the structure of some of the revisions. In response, the agencies indicated that they are prepared to meet with representatives of the banking industry to explore structural alternatives. Draft copies of the appropriate schedules will be sent to you shortly, so that you may have advance notice of the information required. The final forms, which will be essentially the same as the drafts, will be included as a part of the regular call package for the December 31 report. Questions on this matter may be directed to Violet Cumberbatch of our Banking Studies Department (Tel. No. 212-791-6358). A nthony M. S olomon . President.
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