Overview
The Call Report is constantly in a state of change. We worked through the extensive changes that took place over the course of the past few years.
As we approach the second reporting quarter for 2023, questions are raised over what will the reporting impact be from the FASB revisions to accounting and reporting of TDRs and the elimination of our current terminology related to modified loans.
In addition, were you comfortable with the reporting impact within your Call Report related to the adoption of CECL?
This six-hour training will provide information on new, proposed and revised changes to the Call Report, with identification of specific Call Report line items impacting June 2023 and beyond. Accounting guidance and regulatory changes will be discussed and presented in order to update those with Call Report preparation and review responsibilities.
Participants will receive handout materials to include a PDF version of the presentation and additional documentation required to support the topics covered. The FFIEC 041 and 051 reports will be referenced in the presentation and materials. However, if you file the FFIEC 031 report, the information covered also will benefit your bank.
Topics
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:
- Schedule RI-A and RI-E adjustments to retained earnings and transactions with holding companies
- Schedule RI-B and the CECL reporting impact
- Schedule RI-C reporting your ALLL or ACL
- reporting loan activities in Schedule RC-C, RC-M, RC-N and RC-L
- risk weighting the loan portfolio and unfunded commitments in RC-R Part II
- reporting deposits in Schedule RC-E, to include brokered, reciprocal and sweep arrangements
- reporting average balances in RC-K and 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.
- Credit Loss Accounting (CECL) under ASU 2016-13 to include regulatory reporting matters
- revised accounting and reporting for Troubled Debt Restructuring under ASU 2022-02
- ASU 2020-04 Reference Rate Reform
- ASU 2022-01 Layering Method - Derivatives
- ASU 2022-03 Fair value measures for equity securities with contractual restrictions
- 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 for all of 2023. Currently, regulatory topics covered in this training will include the following.
- risk weighting loans with targeted look as those loans included in the Residential Mortgage Exposure group
- loan coding coverage with a focus on areas that create questions
- eligibility under the CBLR framework with reduced RC-R reporting
- understanding the term “unconditionally cancelable” when it comes to reporting off-balance sheet commitments
- classification of HELOCs and reporting changes to open-end and closed-end lines of credit secured by 1-4 family residential properties – are we properly reporting these revolving lines?
About the Instructor
Cynthia A. Dopjera, CPA/Consultant
Dopjera has 38 years of experience focused on accounting and regulatory reporting for financial institutions. During the first 18 years of her career, Dopjera held various positions with responsibility across all operational areas, including accounting, internal audit, call report preparation and review, while working for both community and regional banks.
In 2000, 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, Dopjera retired from Harper & Pearson Company and currently provides accounting, consulting, and training services to financial institutions.
Who Should Attend
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. Both new and experienced preparers and reviewers will benefit from the updates and the continued discussion on accounting and financial reporting matters. 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.