Virtual Call Report Update & Review Workshop
March 14 – 15, 2024
9:00 am – 12:00 pm CST both days
Navigating the ever-changing landscape of the Call Report is like embarking on an exciting journey. We’ve successfully traversed the winding path of extensive changes that have unfolded over the past few years, demonstrating our resilience and commitment to staying up-to-date in the dynamic world of finance.
As we approach the first quarter-end of 2024, it is essential that we remain proactive in addressing questions and concerns that come from FASB revisions, the elimination of current terminology related to modified loans, and the accounting and reporting of modified loans. Staying well informed about accounting standards and regulatory changes is essential to ensure your institution’s Call Reports are accurate, compliant, and reflect the most current reporting requirements.
The focus of this 6-hour training is designed to provide those with Call Report preparation and review responsibilities with information on new, proposed, and revised changes impacting March 2024 and beyond.
It is also important to assess your comfort level with the reporting impact of adopting CECL. Understanding how to report Purchase Credit Deteriorated (PCD) loans and securities in the Report of Condition, as well as in other schedules that demand specific accounting for all PCD assets, is crucial. These aspects play a significant role in ensuring accurate and compliant reporting in your institution’s Call Report.
You’ll be well-equipped during the training with comprehensive handout materials provided to support the agenda. We’ll focus on FFIEC 041 and 051 forms, but even if you file the FFIEC 031 report, you’ll find this information valuable. To get the most out of the training, we recommend bringing either a recent Call Report or a printed blank copy of the relevant FFIEC form for your bank. Get ready to make the most of this learning experience!
Specific schedules will be discussed in detail and will include the base-line reporting requirements for Schedule RI and Schedule RC, along with several other schedules and reporting items that often raise the most questions or common errors to include:
o Schedule RI-A and RI-E adjustments to retained earnings and transactions with holding companies
o Schedule RI-B and the CECL reporting impact
o Schedule RI-C reporting your ACL
o Reporting loan activities in Schedule RC-C, RC-M, RC-N and RC-L
o Risk weighting the loan portfolio and unfunded commitments in RC-R Part II
o Reporting deposits in Schedule RC-E, to include brokered, reciprocal and sweep arrangements
o Reporting average balances in RC-K and RC-O
o Reporting estimated uninsured deposits in RC-O
A summary of the reporting impact and the implementation timelines for new Accounting Standards Updates (ASU) related to the following will be discussed:
o Recap on Credit Loss Accounting (CECL) under ASU 2016-13 (ASC Topic No 326) to include regulatory reporting matters and common questions that arose during implementation.
o Reporting Modified Loans under ASU 2022-02 and ASC Topic No 326.
o Reference Rate Reform ASC Topic No 848
o ASU 2022-01 Layering Method – Derivatives
o ASU 2022-03 Fair value measures for equity securities with contractual restrictions
o Staff Accounting Bulletin No 121 on Crypto-asset safeguarding obligations
A discussion of regulatory changes impacting the 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. Currently, regulatory topics covered in this training will include:
o Risk weighting loans with targeted look as those loans included in the Residential Mortgage Exposure group.
o Loan coding coverage with a focus on areas that create questions.
o Eligibility under the CBLR framework with reduced RC-R reporting.
o Understanding the term “unconditionally cancelable” when it comes to reporting off-balance sheet commitments.
Call Report preparation is a multifaceted task that demands a deep understanding of bank accounting, regulatory requirements, and various banking operations. Regulatory authorities highly recommend annual training to stay abreast of evolving standards. It’s advisable for banks to designate individuals who are trained as both preparers and reviewers for this critical task.
This program offers value to anyone involved in preparing, reviewing, or signing a Call Report, whether they are newcomers or seasoned professionals. The updates and discussions on accounting and financial reporting issues ensure that all participants can enhance their knowledge and skills.
To maximize the benefit of the program, it’s essential to communicate specific areas of concern in advance. This allows the seminar organizers to address these topics adequately and cater to the needs of the participants.
The registration fee of $245 includes program registration, instruction and materials.
A refund, less a $25 administrative fee, is provided for cancellations requested on or before March 8th.