Date: November 19, 2018
Description: Notice of Proposed Rulemaking
On November 19, 2018, the OCC, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the agencies) published a notice of proposed rulemaking to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposed rule would expand the eligibility to file the FFIEC 051 report of condition, which is the most streamlined version of the call report.
Note for Community Banks
The proposed rule would apply to all national banks and federal savings associations (collectively, banks) with total assets of less than $5 billion that do not engage in certain complex or international activities.
The proposed rule would
- permit banks with total assets of less than $5 billion that do not engage in certain complex or international activities to file the streamlined FFIEC 051 call report.
- further reduce items reported in the first and third quarters in the FFIEC 051.
Please contact Cady Codding, Senior Policy Accountant, Office of the Chief Accountant, at (202) 649-5764; or Kevin Korzeniewski, Counsel, Chief Counsel’s Office, at (202) 649-5490.
Acting Senior Deputy Comptroller and Chief Counsel