Call Report for Banks Virtual: Nuts & Bolts and Current Hot Spots
A 3-Day Virtual Program
Updated Program Description as of 9/3/21
The Call Report has been subject to many changes over the course of the past 18 – 24 months and continues to be impacted by economic, accounting and regulatory changes. Our recent challenges related to the economic crisis under COVID-19 have added to the reporting burden with changes impacting all financial institutions continuing into 2021.
This 3-part webinar will provide information on new, proposed, and revised changes to the Call Report with identification of specific Call Report line items impacted. Accounting guidance and regulatory changes will be discussed and presented in order to update those with Call Report preparation and review responsibilities. A discussion of the regulatory changes impacting the 2021 Call Report will be covered in detail. As new regulatory matters arise, they will be added to the agenda in order to provide participants with the most current training applicable for the September 2021 and December 2021 Call Reports.
A selection of the topics covered include:
- Financial Institution Letters (FIL) issued late 2020 and current 2021 FILs impacting the Call Reporting process.
- Reporting deferred tax assets on a separate entity basis and use of the standardized approach for counterparty credit risk with new reporting item in RC-R Part 1 item 31.a.
- Reporting reserves on unfunded commitments for CECL banks.
- Changes in the instructions regarding the reporting of savings accounts as transaction accounts.
- Reporting International Remittance Transfers in 2021.
- Reporting Troubled Debt Restructurings to include 2021 status for reporting TDRs under Section 4013 of the CARES Act and the April 2020 Revised Statement issued by the Regulators.
- Classification of HELOCs and reporting changes required for 2021.
Participants will receive handout materials that will be referred to throughout the seminar in support of the agenda items. The training will cover the FFIEC 041 and 051 forms and will be referred to in the presentation and materials. It is advised that participants bring a copy of their recent Call Report, or print out a copy of the form applicable to their Bank.
This 3-session virtual will cover general information on new accounting and regulatory matters addressed within the Call Report to include several final issued Accounting Standards Updates that impact the financial services industry and regulatory reporting changes currently impacting the Call Report as well as those regulatory changes that are proposed for the future. The impact of the CARES Act and related regulatory interim and final rules resulting from the COVID-19 crisis will also be discussed.
A summary of the reporting impact and the implementation timelines for new Accounting Standards Updates (ASU) related to the following will be discussed:
- Reference Rate Reform under ASU 2020-04
- Premiums on Callable Debt Securities under ASU 2017-08 and ASU 2020-08
- Lease Accounting under ASU 2016-02
- Credit Loss Accounting (CECL) under ASU 2016-13 to include regulatory reporting matters
- Revenue Recognition (to include recording gains on sales of OREO) under ASC Topic No 606 and 610
A discussion of regulatory changes impacting the 2021 Call Report will be covered in detail. As new regulatory matters arise, they will be added to the agenda in order to provide participants with the most current training applicable for the September 30, 2021 Call Report. Currently, regulatory topics covered in this virtual will include:
- Financial Institution Letters issued late 2020 and current 2021 FILs impacting the Call Reporting process and requirements to include threshold changes in reporting status, modifications to reporting pledged securities and RC-B, reporting shared fees on securities and insurance activities, reserves on unfunded commitments for CECL banks, and changes to the Reg D eligibility definition for NOW account holders.
- Accounting and reporting Troubled Debt Restructurings to include the 2021 current status for reporting TDRs under Section 4013 of the CARES Act and the April 2020 Revised Statement issued by the Regulators.
- Risk weighting loans impacted by modifications made as a result of COVID-19.
- Schedule RC-R Part I and the CBLR framework as originally reported and the changes due to the CARES Act and COVID-19.
- Off-balance sheet exposures included in the calculation for eligibility under the CBLR framework.
- Revisions to the calculation for eligible retained earnings for non-CBLR electing institutions.
- Current status for reporting PPP loans and any associated borrowings.
- Participation in the MMLF borrowing program and the assets purchased as a result of a bank’s participation in the program.
- Line item impacts from the adoption of CECL and the calculations for amounts impacting the calculation of capital ratios to include risk weighting assets impacted under the CECL methodology.
- Changes to Regulation D and the reporting of transaction and non-transaction accounts.
- HVCRE definition revisions.
- Classification of HELOCs and reporting changes to open-end and closed-end lines of credit secured by 1-4 family residential properties.
- The simplification to the regulatory capital rules as provided by changes in 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.
Call Report Scheduled Covered
- RI - Report of Income
- RI-A - Changes in Equity Capital
- RI-B - Charge-Offs and Recoveries
- RI-C - Allowance for Credit Losses
- RI-E - Explanations
- RC - Report of Condition
- RC-A - Cash and Due From Banks (Covered in pre-recorded audio)
- RC-B – Securities
- RC-C - Loans (RC-C Part II covered in pre-recorded audio)
- RC-E - Deposits
- RC-F - Other Assets
- RC-G - Other Liabilities
- RC-K - Average Balances
- RC-L - Unused Commitments & Off-Balance Sheet Items
- RC-M – Memoranda
- RC-N - Past Due, Nonaccruals & TDRs
- RC-O - Insurance Assessments
- RC-P – Mortgage Banking Activities (Covered in pre-recorded audio)
- RC-Q – Reporting Fair Value Assets and Liabilities (Covered in pre-recorded audio)
- RC-R Part I - Capital Ratios and the CBLR
- RC-R Part II - Risk Weighting Assets
- RC-S - Servicing, Securitization, Sales
- RC-T – Trust Activities (Covered in pre-recorded audio)
- SU – Report 051 items covered with discussion of Form 041 corresponding items
Call Report preparation requires knowledge of bank accounting, bank regulations, and virtually all bank operations. Annual training is highly recommended by regulators. Banks should have a trained preparer and a trained reviewer. Anyone responsible for preparing, reviewing, or signing a Call Report will find this program valuable. Experienced preparers and reviewers will benefit from the updates and the continued discussion on accounting and financial reporting matters. The seminar will provide basic training for new preparers, though some basic accounting knowledge is helpful, and complete coverage of new and complex issues for experienced preparers. Specific areas of concern should be communicated to the sponsor in advance of the seminar so that these areas can be covered with appropriate adequacy.
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.
Registration to the live session includes:
- One online connection
- CPE credit for registrant
- Permission to reproduce the handouts and other written material for additional attendees at your location
Only registered attendees of the live session can obtain CPE credit.
|| Earn up to 10 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 [email protected] 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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FMS Members: $425
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