The 2021 Call Report: Current Matters and Areas of Uncertainty

The Call Report for 2021 is impacted by new reporting requirements related to reporting brokered deposits, sweep accounts, HELOCs, international remittance transfers, and additional reporting for institutions that have adopted CECL. In addition, the Call Report continues to be impacted by the CARES Act and the regulatory agencies’ rulings that resulted from the COVID-19 crisis.

Covered Topics

  • Reporting Revisions effective for 2021 Call Reports:
    • Temporary increases in total assets – impact to reporting requirements.
    • Key elements and new items for reporting related to CECL
    • A discussion on reporting TDRs
    • Reporting International Remittance Transfers
    • Revised definition for reporting Savings as NOW accounts
    • The changes related to the brokered deposit framework
    • Newly added items to Schedule RC-E on retail sweep accounts
    • Reporting deferred tax assets on a separate entity basis and use of the standardized approach for counterparty credit risk with new reporting item in RC-R Part 1 item 31.a.
    • Reporting shared fees on securities and insurance sales activities
  • Did you know…..The following areas will be covered due to the volume of questions and uncertainly about what to report:
    • Realized and unrealized gains and losses on equity securities
    • Loan coding and reporting income on loans
    • Loan risk weighting – specific types to look out for
    • Unconditionally cancelable commitments
    • Reporting HELOCs that converted to closed-end prior to January 1, 2021.

Who Should Attend?

Anyone responsible for preparing, reviewing, auditing, or signing the Call Report will find the program valuable. The seminar is designed for more experienced preparers and reviewers interested in new reporting requirements and up-to-date rulings impacting preparation of the Call Report.