Current Matters and Common Questions Impacting the Call Report

The March 31, 2021 and the June 30, 2021 Call Reports are impacted by new reporting requirements related to reporting brokered deposits, HELOCs, international remittance transfers, to name a few, along with changes resulting from applicable sections of the CARES Act, and the regulatory agencies’ rulings that result from the current COVID-19 crisis.

Participants will receive a copy of the presentation and a supplement handout that describes the areas impacted by the CARES Act and the regulatory Interim Final Rules, and the Call Report Schedules impacted by these changes on Form 041 with Form 051 reductions in reporting indicated, as applicable.

Covered Topics

  • The impact of the COVID-19 and the CARES Act:
    • Section 4013 on temporary relief from reporting TDRs (to include regulatory guidance on reporting past due status),
    • Section 4014 on the optional temporary relief from CECL adoption (with interim final rule impact on reporting in Schedule RC-R), and
    • Section 4012 on the Community Bank Leverage Ratio (to include general discussion on CBLR eligibility and reporting unfunded commitments).
    • Reporting PPP loans and related PPP loan fees.
    • Temporary increases in total assets – impact to reporting requirements.
  • Regulatory Reporting Revisions effective for 2021 Call Reports
    • Reporting HELOCs as closed-end commencing March 31, 2021 with early adoption available.
    • Revised definition for eligibility to hold a NOW account
    • Reporting International Remittance Transfers
    • The changes related to the brokered deposit framework
    • Reporting shared fees on securities and insurance sales activities
    • Reporting provisions for unfunded commitments (CECL banks)
    • Reporting sweep accounts in RC-E
  • Common questions and potential reporting errors
    • Loan coding and reporting income on loans
    • HVCRE decisioning
    • Realized and unrealized gains and losses on equity securities

Who Should Attend?

Anyone responsible for preparing, 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.