Federal regulators issued final call report changes related to asset threshold relief given the impact of Paycheck Protection Program lending on bank balance sheets.
Background: The agencies' call report revisions are consistent with their interim final rule issued last fall in response to ICBA's push for relief from regulatory burdens caused by participating in federal coronavirus response programs.
What's New: The agencies are expanding eligibility for the FFIEC 051 call report and relief from certain additional data items by allowing community banks to base their total assets on the lesser of their assets as of June 30, 2020, and Dec. 31, 2019.
ICBA Position: In a comment letter earlier this month, ICBA thanked the regulators for extending streamlined reporting but urged the agencies to increase the 051 call report threshold from $5 billion to $10 billion in assets, which is not included in the final rule.