Regulatory Alerts2024-07-11 | FIL-39-2024Consolidated Reports of Condition and Income for Second Quarter 2024
The Federal Financial Institutions Examination Council issued supplemental instructions for the June 2024 Call Report, implementing revisions primarily driven by FASB ASU 2022-02 regarding loan modifications to borrowers experiencing financial difficulty. The updated guidance clarifies reporting requirements for internet website addresses, trade names, and electronic signatures, while mandating specific accounting treatments for the FDIC’s special assessment on uninsured deposits and SEC Staff Accounting Bulletin No. 121 crypto-asset obligations. Institutions must submit finalized data through the FFIEC’s Central Data Repository using approved software, ensuring proper accrual of liabilities and maintenance of documented transfer dates for debt securities under ASC Topic 320.