Regulatory Alerts2024-05-23 | FIL-26-2024Revisions to the Consolidated Reports of Condition and Income (Call Reports) and the FFIEC 002 Report
The FDIC, Federal Reserve Board, and OCC have published final regulatory reporting changes to the FFIEC 031, 041, and 051 Call Reports and the FFIEC 002 Report. These revisions implement ASU 2022-02 by replacing troubled debt restructurings with modifications to borrowers experiencing financial difficulty, mandate internet website address reporting for trade names, adopt electronic signature standards, and require loans to nondepository financial institutions and government-guaranteed structured products to be reported as of December 31, 2024. The updated forms and instructions take effect for the June 30, 2024, report date, with a public comment period open until June 21, 2024.
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