Call Report

What Is a Call Report?

A call report is a regulatory report that must be filed by banks in the U.S. on a quarterly basis with the FDIC. A call report contains data about the bank's financial wellbeing, and by inspecting numerous call reports it can give knowledge in regards to the welfare of the U.S. banking system all the more comprehensively. Banks that are required to file call reports are national banks, state member banks, and non-member banks.

The call report is authoritatively known as the "Report of Condition and Income" and can likewise be called the RC report.

Understanding Call Reports

The call report contains things, for example, the bank's income statement, balance sheet, loan data, deposit data, investment data, changes in the bank's capital, asset sale data and several different segments examining parts of the bank's suitability. Banks are required to file the call report no later than 30 days after the finish of each quarter. The Federal Insurance Deposit Commission (FDIC) is entrusted with managing compliance with call report filing requirements.

Each bank's board of directors and senior management are responsible for laying out and keeping an effective system of internal controls, including controls over the Reports of Condition and Income (the call report). Call reports are to be prepared as per federal regulatory authority guidelines and must be endorsed by the Chief Financial Officer (CFO) of the reporting bank (or by the individual carrying out an equivalent role) and attested to by at least two directors (trustees) for state nonmember banks and three directors for state member banks, national banks, and savings associations.

The management of the reporting bank may, in the event that it wishes, likewise present a concise story statement on the sums reported in the call report. This discretionary statement will be made accessible to the public, alongside the publicly accessible data in the Reports of Condition and Income, in response to any request for individual bank report data

Submitting Call Reports

Call reports are required to be submitted to the Federal Financial Institutions Examination Council (FFIEC). The Federal Financial Institutions Examination Council is an interagency entity that arranges regulatory efforts between the Federal Reserve, the Federal Insurance Deposit Commission (FDIC) and the Office of Thrift Supervision. Banks must utilize the normalized forms given by the Federal Financial Institutions Examination Council to present their data and each call report is audited by a Federal Insurance Deposit Commission analyst for errors and audit banners.

These reports are accessible to the public on the Federal Insurance Deposit Commission website and are a resource to individuals searching for data with respect to the strength of the U.S. banking system. Credit unions and thrift institutions are additionally required to file comparable reports with their own regulatory agencies.

Features

• A call report is a quarterly report of the financial condition of U.S. banks, filed with the FDIC.
• Authoritatively known as the Report of Condition and Income, the bank's management must close down and attest to the data gave in the report.
• The specific reporting requirements for a bank rely on the size of the bank, whether it has any "unfamiliar" offices, and the capital standards applicable to the bank.