2020 Call Report Update Virtual Education
The Call Report is constantly changing, producing confusion and many questions. This two-part Call Report Update Virtual Education program will provide training for experienced preparers and reviewers and will include complete coverage of new and complex issues impacting the Call Report preparation, to include the changes resulting from COVID-19 initiatives. New, proposed, and revised changes will be presented in summary form at the beginning of the program followed by a more detailed discussion as specific schedules are reviewed and discussed.
Participants will receive a workbook in addition to the presentation materials that will be referred to throughout the program. Annual training is highly recommended by regulators. Training will be conducted from current FFIEC 041 and 051 forms that will be used in the presentation and materials.
Specific areas within the Call Report that commonly contain errors will be pointed out over the course of the presentation as specific schedules are discussed.
- Proposed and approved changes to the 2020 and 2019 Call Reports as well as other recent revisions.
- The impact of COVID-19 initiatives on reporting guaranteed loans under the Payroll Protection Program (PPP), the recognition of fees on PPP loans, reporting loan modifications, changes relative to the Community Bank Leverage Ratio (CBLR) requirements for 2020 and 2021, and CECL reporting requirements under the delayed adoption alternative.
- Summary and outline of the implementation timelines for new Accounting Standards Updates related to Leases, Credit Losses (CECL), Revenue Recognition relative to bank financed sales of ORE, accounting for Equity Securities, and Premiums on Callable Debt Securities.
- Focused discussion on the following relative to revisions from 2019 and proposed for 2020.
- Income Statement and Balance Sheet impacts
- Loan Schedules
- Deposit Schedules
- Risk Based Capital Schedule and the CBLR
- Off-balance sheet reporting requirements
- Other miscellaneous reporting items
Recently Proposed and Approved Revisions
- Option to calculate a simple leverage ratio, rather than multiple measures of capital adequacy for banks that meet certain criteria – effective January 1, 2020, with revisions applicable under COVID-19 regulatory relief.
- Changes to the Risk Based Capital rules that will be effective April 1, 2020 (with early adoption available and reportable in the March 31, 2020 Call Report) and will simplify the threshold deduction treatment for mortgage servicing assets, deferred taxes arising from temporary differences that cannot be realized through carrybacks, and investments in the capital of unconsolidated financial institutions.
- New information on the HVCRE definition and associated risk weighting in Schedule RC-R.
- Reporting HELOCs in RC-C as open-end vs closed-end loans.
- Recap of the reduced reporting available for bank’s eligible to file the FFIEC
- Recap of the brokered and reciprocal deposit definitions and reporting
- The impact of CECL adoption on nearly all schedules within both the FFIEC
041 and 051 reporting forms.
Call Report preparation requires knowledge of bank accounting, bank regulations, and virtually all bank operations. Banks should train a preparer and reviewer. 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.
Annual training in Call Report preparation is highly recommended by bank regulators, not just for preparers of the Call Report, but also for reviewers. A reviewer needs to understand the reporting requirements and should spend at least 3-4 hours performing a detailed check of the completed Call Report schedules and supporting documentation. New and experienced preparers and reviewers require ongoing training in order to stay current on matters impacting financial reporting.
Cynthia A. Dopjera, CPA
Consultant, Third Party Resources Inc.
Ms. Dopjera, a Certified Public Accountant, has 38 years of experience focused on accounting and regulatory reporting for financial institutions. During the first 18 years of her career, Ms. Dopjera held various positions with responsibility across all operational areas, to include accounting, internal audit, Call Report preparation and review while working for community as well as regional banks.
In 2000, Ms. Dopjera joined the public accounting firm of Harper & Pearson Company, P.C., where she served as Practice Leader for the Firm’s financial institutions practice covering community and regional institutions. The Firm’s services included financial statement audit, accounting, tax preparation and filing, internal control audit, Call Report audit, loan and asset quality review, and design and implementation of internal controls over financial reporting frameworks for institutions regulated under FDICIA and Sarbanes-Oxley. In 2018, Ms. Dopjera retired from Harper & Pearson Company, and currently provides accounting, consulting, and training services to financial institutions.
3PR is a Financial Consulting firm specializing in Risk Management, including Regulatory Consumer Compliance, BSA/AML Compliance, Internal Control Audits and Bank and Regulatory Training. Lauren M. Sparks, CRCM, CAMS, AAP is the CEO of the firm. Ms. Sparks brings extensive experience with over 35+ years in community banking, and also acted as National Director in Risk Management Services for Sheshunoff Consulting + Solutions, where she provided risk management services, specializing in high-risk projects and engagements.
|| Earn up to 7 hours of CPE credit.
- Level: Basic to Intermediate
- Prerequisites: None
- Advance preparation: None
- Field of Study: Accounting
- Instructional Method: Group Internet Based
For more information regarding administrative policies such as concerns or refunds, call 312-578-1300. FMS is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses. Complaints regarding sponsors may be addressed to: The National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville, TN 37219-2417 Web: www.nasba.org.
Refunds and Cancellations
Cancellations will be issued after completed request form is returned to FMS via firstname.lastname@example.org. Refunds minus a $250 processing fee will be issued and may take 30 days to process. Should you be unable to attend and want to transfer registration to a co-worker, additional costs could apply. FMS reserves the right to change instructors or reschedule/cancel session when necessary.
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