On July 1, 2016, the Federal Financial Institutions Examination Council approved revisions to the Consolidated Reports of Condition and Income (Call Report) that will take effect on September 30, 2016 and March 31, 2017. The revisions were proposed by the three US federal banking agencies in September 2015 (see FIL-39-2015, dated September 18, 2015), and included certain burden-reducing changes, a number of instructional clarifications and certain new and revised Call Report data items (e.g., a new item on “dually payable” deposits in foreign branches of US banks). After considering the comments received on the proposal, the FFIEC and the banking agencies are proceeding with most of the proposed reporting changes, with some modifications.

The Call Report revisions are part of an initiative launched by the FFIEC in December 2014 to identify potential opportunities to reduce burden associated with Call Report requirements for community banks, such as the costs arising from the Call Report preparation process.

A summary of the revisions is available at: https://www.fdic.gov/news/news/financial/2016/fil16044.pdf