Good News for March 2017!

If your bank's Total Assets were less than $1 Billion as of June 30, 2016, your Call Report

will be much shorter beginning with March 31, 2017:  61 pages instead of 85.

 

The new Call Report, named Form 051, contains schedules you are accustomed to in Form 041,

so there will be only a handful of new items to prepare for. The new Form is optional, but why
would you choose to stay with the longer Form 041?

 

The FDIC has announced they will conduct a Webinar on March 8, which will cover the new Call
Report Form 051 and other Call Report revisions scheduled for March 2017. 
Click here to display
the Webinar information.

 

As more specific details are made available to us, we will alert you. Here is what we have for now:

All-in-all, this is good news on the regulatory compliance front.

 

Important Information for your March 2017 EasyCall Report Update:

If your bank's Total Assets were less than $1 Billion, but you want to stay with Form 041, you must
contact Customer Support immediately. Regulators tell us that if you choose to continue with
Form 041 you will be unable to switch to Form 051 until March 2018. Otherwise you will be changing
from EasyCall Report Form 041 to 051
, and there is nothing for you to do that's di
fferent from the past. 
You can update like you always have: banks that receive a CD, will get a CD,
and banks that want to
update via the Internet, can update that way. Your new Form 051 will be in
EasyCall Report for you,
and your prior quarter Form 041 data will still be there for filing amended reports.

 

If your bank's Total Assets were $1 Billion or more, your bank will continue to file Form 041. You
should expect an EasyCall Report 041 update CD in the mail for the March 2017
quarter.  After
March 2017 you will be able to update via CD or the Internet as before.

 

Banks that file Form 031 will receive a CD or download link sent to them as always.