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California Professional Development
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Recorded Tuesday, October 7th, 2008
The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CRCM credits.
There are newly proposed changes to the 2009 Call Report as a result of the current conditions in the banking environment. The proposed revisions respond to recent accounting standards. Recent notices of proposed rulemaking that would permit a bank to reduce the amount of its goodwill deduction from tier one capital by any associated deferred liability may also impact the call report. Annual changes in accounting standards and regulatory interpretations also affect the data submitted. Recent regulatory guidance clarifies reporting on overdrafts and overdraft protection programs and also reporting of commitments to originate mortgage loans for resale.
This two hour program provides a review of recent and proposed revisions of line items, accounting standards, and regulatory interpretations, as well as a review of some common errors made during call report preparation. It will insure that the Call Report preparer knows what has changed and will change and can prepare to accurately report the required data.
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Proposed 2009 Call Report Revisions:
- Adding Items for Held Investment Loans Acquired in Business Combinations
- Revising Several Schedules for Financial Reporting Changes Applicable to Minority Interests in Consolidated Subsidiaries
- New Annual Item on a Bank's Fiscal Year End Date
- Exemptions from Reporting Certain Existing Call Report Items for Banks with Less Than $1 Billion in Total Assets
- Clarifications of:
- "Real Estate Secured" Loans
- Instructions for Reporting Unused Commitments
- Instructional Guidance on Quantifying Misstatements in the Call Report
- Revisions to Include New or Revised Items for:
- Real Estate Construction and Development Loans with Capitalized Leases
- Holdings of Commercial Mortgage Backed Securities
- Fair Value Measurements for Assets and Liabilities Reported at Fair Value on a Recurring Basis for Banks that have over $500 Million in Assets
- Pledged Loans
- Remaining Maturities of Unsecured Other Borrowings
March, 2008 Call Report Revisions:
- 1-4 Family Residential Real Estate Loans
- Restructured 1-4 Family Residential Real Estate Loans
- 1-4 Family Residential Real Estate Loans in Process of Foreclosure
- Revised Reporting Threshold for Noninterest Income and Expense
- Revised Reporting Threshold for RC-D
- New Reporting Format for RC-O
- RC-P Revisions
- Separate items for originations, purchases, and sales of open end 1-4 family mortgages
- Mortgage loan repurchases and indemnifications
- Schedule RC-Q, Financial Assets & Liabilities Measured at Fair Value
- Schedule revisions so consistent with other financial reporting
- May elect to report loans at fair value
Common Errors in Call Report Preparation
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This update will benefit the more experienced Call Report preparers, reviewers, and auditors. It will supplement annual comprehensive Call Report training recommended by bank regulators.
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Ann Thomas has twenty-five years of experience in bank accounting and control. She received a BA in Accounting from the University of Houston in 1982. From 1982 through 1997 she worked with Judith Alexander Jenkins, as Alexander & Associates and subsequently Alexander & Leavelle, providing planning, financial reporting, regulatory reporting, and operational and compliance auditing services to over ninety independent banks.
In 1998, she organized Thomas Consulting. At Thomas Consulting she now prepares bank plans, monthly financial reports, performs regulatory compliance audits and training and internal control audits for several banks. Additionally, she prepares and reviews Call Reports for various banks. Ms. Thomas has taught numerous call report seminars for state banking associations. She has presented the Call Report Seminar to and has responded to questions from thousands of bankers in over 16 states. Her experience in working with a broad range of independent financial institutions is of unique value in understanding Call Report questions and in communicating with bankers in their language.
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