Call Report Update Fast-Track (Virtual Live Seminar or Virtual Seminar Recording)
This class has been changed to a virtual seminar via Zoom.
Member Fees: $275 (Virtual Live Seminar); $350 (Recording); $100 Add On Recording Fee with Virtual Live Seminar Registration
Non-Member Fees: $375 (Virtual Live Seminar); $450 (Recording); $100 Add On Recording Fee with Virtual Live Seminar Registration
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. All financial institutions continue to feel the impact of the reporting burden that originated from the economic crisis and COVID-19.
Questions continue to be raised about the termination of the CARES Act. What will the reporting impact be if the Act terminates as scheduled by the end of 2021? How will reporting TDRs be impacted?
In addition, what will be the reporting impact for financial institutions related to the implementation of the new accounting standard for credit losses, also known as CECL?
The year 2022 could, once again, be a challenging financial reporting year.
This fast-track, half-day program will provide information on new, proposed, and revised changes to the Call Report with identification of specific Call Report line items impacted. 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 in the seminar. The FFIEC 041and 051 reports will be referenced in the presentation and materials.
This seminar will cover new accounting and regulatory matters that impact the financial services industry and require reporting changes currently impacting the Call Report and those scheduled to impact the first quarterly filing for March 31, 2022. The impact of the CARES Act with termination pending, and related regulatory interim and final rules resulting from the COVID-19 crisis will be discussed.
A summary of the reporting impact and the implementation timelines for new Accounting Standards Updates (ASU) related to the following will be discussed:
- Reference Rate Reform under ASU 2020-05
- Lease Accounting under ASU 2016-02
- Credit Loss Accounting (CECL) under ASU 2016-13
A discussion of regulatory changes impacting the 2022 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 the March 31, 2022 Call Report. Currently, regulatory topics covered in this seminar will include:
- Reporting sweep accounts in the newly added items for RC-E.
- International Remittance transfers and what changes are in effect that may impact the reporting items for your institution.
- Accounting and reporting Troubled Debt Restructurings: 2022 reporting related to Section 4013 of the CARES Act, and the 2020 regulatory Revised Statement issued by the Regulators.
- Risk weighting loans with targeted look as those loans impacted by modifications made as a result of COVID-19.
- 2022 eligibility under the CBLR framework with reduced RC-R reporting.
- Understanding the term “unconditionally cancelable” when it comes to reporting off-balance sheet commitments.
- Loan coding items to be aware of including the current status for reporting PPP loans and the associated fees.
- High level Call Report impact from the adoption of CECL. What to be aware of as you prepare for adoption of ASU 2016-13.
- New item RC-R Part 1 item 31.b – what institutions are impacted by the new election related to the standardized approach to risk weighting counterparty credit risk
- Classification of HELOCs and reporting changes to open-end and closed-end lines of credit secured by 1-4 family residential properties. With the first new reporting year behind us - are we properly reporting these revolving lines?
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. While some basic knowledge of the Call Report will be helpful for participants, both new and experienced preparers and reviewers will benefit from this update and the discussion on accounting and financial reporting matters that impact the completion of the Call Report. Specific areas of concern should be communicated to the sponsor in advanced of the seminar so that these areas can be covered with appropriate adequacy.
Bankers who attend this seminar do not need to attend the Call Report Preparation seminar on February 17-18. The February 17-18 class is a two-day session is designed for bankers with minimal call report experience. 2022 Q1 - Call Report Update Fast-Track is designed for bankers with years of experience who are only interested in recent changes. The recent call report changes will be discussed in both programs. Please contact the LBA if you have any questions.
Cynthia Dopjera, a Certified Public Accountant, has 38 years of experience focused on accounting and regulatory reporting for financial institutions. During the first 18 years of her career, Ms. Dopjera held various positions with responsibility across all operational areas, to include accounting, internal audit, Call Report preparation and review while working for community as well as regional banks. In 2000, Ms. 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, Ms. Dopjera retired from Harper & Pearson Company, and currently provides accounting, consulting, and training services to financial institutions.