Attend the Call Report Update from the convenience of your own office via Live Streaming Video as it happens on February 7 (9:00 am – 4:00 pm Central Time), or at your own convenience with 3 months of OnDemand playback.
This seminar will help preparers and reviewers understand the Call Report preparation process and eliminate errors. It begins with an overview of proposed and approved revisions for 2019 & 2018 and other recent changes, followed by a review of several new accounting standard updates.
The classification priority for coding loans on RC-C will also be covered. Loans are normally a bank’s largest asset category and the reporting rules for RC-C are critical because they affect all loan schedules in the Call Report. Loans are reported based on borrower, purpose or collateral, but there are specific rules that dictate when to use each of the classification factors.
The seminar will end with a discussion of commonly cited errors made in Call Report preparation.
Schedules included in the presentation are the FFIEC 041 and 051 forms.
- Increase in small bank asset size eligibility for filing on the FFIEC 051 form
- Semi-annual reporting for several more line items on the FFIEC 051 form, primarily RCR Pt II lines 1-25, risk weighting of on and off balance sheet assets
- Banks with assets over $1 billion that file on the FFIEC 051 form will still have to provide information on consumer deposit accounts and related service charges, disaggregated data on the allowance for credit losses and uninsured deposits in certain quarters
- Updates to 12 schedules to address the broader scope of financial assets for which an allowance for credit losses must be established and maintained
- New information on the HVCRE definition as well as reporting of reciprocal deposits
- Further burden reducing changes for the FFIEC 051 and 041 forms
- Reduction and consolidation of line items
- Change in the frequency of data collection for some schedules
- Maintaining phase-in percentage deduction and risk weighting on certain RCR items.
- Simplification of the threshold deduction treatment for mortgage servicing assets (MSA's), deferred tax assets (DTA's) arising from timing differences not realizable through carryback, and investments in the capital of unconsolidated financial institutions -- Approved 11/21/17.
Who Should Attend?
Call Report preparation requires knowledge of bank accounting, regulations and virtually all operations. Banks should train a preparer and reviewer. Anyone responsible for preparing, auditing or signing the call report will find this program valuable. The seminar is designed for more experienced personnel interested in newer reporting requirements. Annual training is highly recommended by bank regulators.
WHAT TO BRING:
Please bring a copy of your general ledger and your latest Call Report. Attendees find it useful to review classifications as the line items are discussed.
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