FR 2900 Reporting. Statistical & Financial Reports

Transcription

1 FR 2900 Reporting Statistical & Financial Reports

2 Agenda Purpose Who Reports FR 2900 Data Items General Instructions FRB Data Analysis 2

3 FR 2900 The Report of Transaction Accounts, Other Deposits, and Vault Cash, or FR 2900, collects information on transaction accounts, time and savings deposits, vault cash, and other reservable obligations from depository institutions 3

4 FR 2900 Why must DIs file an FR 2900 Report? 4

5 Regulation D The filing and collection of the FR 2900 report is in compliance with Regulation D of the Federal Regulations and thus is mandated by law 5

6 Purpose Calculation of Reserve Requirements Calculation of Money Stock 6

7 Tools of Monetary Policy Reserve Requirements A percentage of a depository institution s (DI s) deposits (or fractional reserves) that must be held either as cash in the vault of the DI, on deposit at the Federal Reserve Bank, or at a correspondent bank 7

8 Tools of Monetary Policy Reserve Requirements Discount Rate Open Market Operations 8

9 Money Stock Commonly referred to as Money Supply M1 Narrowest and most liquid measure of money Currency Travelers Checks Demand Deposits Other Transaction accounts M2 A broader measure M1 Small Time Deposits (less than $100,000) Savings deposits, including MMDAs and non-institutional money market mutual funds 9

10 FR 2900 Data H.6 Release Money Stock Measures 10

11 FR 2900 Data Flowchart Board of Governors Depository Institutions Federal Reserve Banks Processing Analysis Processing Analysis Monetary & Reserves Projections Reserves Publications Economic Analysis Analysis Projections Publications Public Senior Staff Open Market Desk FRB NY F.O.M.C. 11

12 Who Reports FR 2900 Data? Depository institutions* with Net Transaction Accounts greater than the Exemption Amount ($10.7 Million for 2011) THRIFT $10.7M *Depository institutions - generally refers to commercial banks, savings banks, savings and loan associations, and credit unions. 12

13 Net Transaction Accounts Total Transaction Accounts - (Due From + Cash Items) = Net Transaction Accounts (NTA) 13

14 Reporting Categories FR 2900 Weekly NTA > $ 10.7 mil Deposits * > $ mil Nonexempt Institutions (Detailed Reporting) Exempt Institutions (Reduced Reporting) FR 2900 Quarterly FR 2910A Annual Non- Reporter NTA > $ 10.7 mil Deposits < $ mil NTA < $ 10.7 mil Deposits > $ 10.7 mil Deposits < $ 10.7 mil *Deposits - refers to the sum of total transaction accounts, savings deposits, and small time deposits. DIs are required to file weekly if Deposits exceed the reduced reporting limit, which is $1.415 billion for 2011, regardless of level of NTA. 14

15 Reporting Frequency Determination FR 2900 Based on the maximum of thirteen weekly averages ending with the last full report week in June FR 2900Q Based on the maximum of the two weekly averages from the March and June reports FR 2910a Based on a single day s, or one day s, data reported as of June 30th 15

16 Reportable Liabilities Flowchart Liabilities Standard Deposits Primary Obligations Transaction Accounts Non-transaction Accounts Promissory Notes Fed Funds Purchased Repurchase Agreements Demand Deposits & Other Transaction Savings & Time If entered into with NON-EXEMPT Entities 16

17 FR 2900 Data Items N T A Transaction accounts (A.1.a - A.1.c. & A.2) Deductions - Due from DIs (B.1) - Cash Items in Process of Collection (B.2) 17

18 FR 2900 Data Items Nontransaction Accounts - Savings Deposits (C.1) - Time Deposits (D.1) Time Deposits >=$100,000 (F.1) - Total Non-personal Savings and Time (BB.1) Annual Vault Cash (E.1) - Reserve Requirements are satisfied with vault cash and FRB Account Balances (or balances held with a pass through correspondent) 18

19 Timeliness Report must be prepared and received no later than the Thursday following the Monday report date 19

20 Close of Business - Defined Close of Business: Cut-off time for posting to general ledger Reasonable and applied consistently Both debit and credit balances must be recorded as of the same business day All transactions occurring during the period of time the books are open must be posted 20

21 Mergers/P&As FR 2900 balances should be consolidated as of the first calendar day that the nonsurvivor no longer exists Based on the legal date of the merger regardless of whether it occurs on a weekday, weekend, or holiday Contact us 21

22 FRB Data Analysis Enhances data quality Stages of Review - Obvious - Individualized - System generated edits Validity Quality Interseries 22

23 Interseries Editing Compares data reported as of similar dates for analogous items from two different reports (e.g., FR 2900 vs. FFIEC 031/041) Discrepancies may be due to a reporting error or legitimate differences DIs should research differences, revise prior periods (if necessary), and begin reporting data correctly 23

24 Revisions Once an error is discovered, revisions will be requested either... Back to the beginning of the error Back to the last finalized Call Report Back further at the discretion of the Board of Governors 24

25 Filing the FR 2900 IESUB Internet Electronic Submission Improved Quality - Checks for validity errors Enhances Communication - Lets you provide comments for fluctuations Saves Time - Allows submission of multiple regulatory reports Provides Confidence Secure delivery and confirmation receipt for every submission Preferred method of filing 25

26 QUESTIONS? 26