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FEDERAL RESERVE BANK OF NEW YORK Circular No. 9580 November 10, 1983 OMB Approval of 1984 Commercial Bank Call Report Revisions To All State Member Banks, Multi-Bank Holding Companies, and Others Concerned, in the Second Federal Reserve District: The following statem ent has been issued by the Federal Financial Institutions Examination Council: The Office of Management and Budget has approved the 1984 call report revisions announced by the Federal Financial Institutions Examination Council on June 29, 1983. The revisions become effective for the Reports of Condition and Income filed by all insured commercial banks as of the March 31, 1984 report date. These revisions are the last of a series of amendments to the call reports that began in March 1983. The information to be reported by banks will differ by type and size of bank. The most comprehensive reports will be filed by banks, regardless of asset size, that have foreign offices. (Foreign offices include Edge Act subsidiaries and international banking facilities as well as overseas branches and subsidiaries). Progressively less comprehensive reports will be filed by banks with: only domestic offices and total assets of more than $300 million; total assets of $100 to $300 million; and total assets of less than $100 million. Also, special, less detailed, requirements have been adopted for banks with total assets of less than $25 million. The establishment of these filing classes has permitted the Council to minimize the reporting burden placed upon smaller banks. However, smaller banks will no longer have the option of filing the reports required of larger banks as is currently allowed. Detailed call report instructions and sample copies of the forms that the banks will file as of March 31, 1984, are now being printed and will be mailed to banks in November. Additional copies of these instructions and sample forms packages can then be obtained from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency in Washington, or from the district Federal Reserve Banks and the district offices of the FDIC and OCC. The revised call reports differ in several ways from those issued for public comment in June of 1982. The majority of the changes were made to reduce the reporting burden of the original proposals. The most significant change allows banks with total assets of less than $300 million and no foreign offices to report the loan detail required on several of the schedules according to the bank’s own internal loan categories rather than the standardized categories used in the report of condition schedule of loan balances outstanding. Banks with assets of less than $25 million will not be required to report certain income details or quarterly average balance data for specific types of loans. Other significant changes are: 1. The number of loan categories that must be aggregated and reported by the nation’s largest banks in the Report of Condition have been reduced by 25 percent from what they currently report; 2. Deposit data called for in the Report of Condition will emphasize the distinction between transaction and non-transaction balances as well as between interest bearing and non-interest bearing balances; and 3. The income statement section of the Report of Income will be presented on a single tier net income basis in the net interest margin format currently favored by accountants. (Over) In response to objection by many bankers to the current call report requirement that loans to states, counties, and political subdivisions be reported in the same item as securities issued by these instrumentalities, the 1984 call report will provide separate categories under loans and securities to report these different types of obligations. Bonds issued by industrial development authorities will, as a general rule, be reported as securities if rated by a national rating service and as loans if they are not rated. The Call Report changes were originally announced in our Circular No 9523, dated July 8, 1983. Questions regarding this matter may be directed to our Banking Studies Department (Tel. No. 212-791-6358). A n t h o n y M. S o l o m o n , P r e s id e n t.
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