DOCSLIB.ORG

Uniform Call Report Instruction Manual (PDF)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Uniform Call Report Instruction Manual (PDF) UNIFORM CALL REPORT INSTRUCTIONS FOR PREPARING THE REPORT OF FINANCIAL CONDITION AND PERFORMANCE REQUIRED BY THE FARM CREDIT ADMINISTRATION 1 Contents General Instructions ........................................................................................... 4 Who must report and for what periods ................................................................... 4 Farm Credit System Banks ................................................................................ 5 Farm Credit System Associations ....................................................................... 5 Farm Credit System Service Institutions .............................................................. 5 Certification ....................................................................................................... 5 How and when to file reports ................................................................................ 5 Preparation of the call report ................................................................................ 6 Revised reports ................................................................................................ 10 Institution profile and branch office directory ........................................................ 11 Instructions for the report of financial conditions and related instructions ................. 12 Schedule RC: Balance Sheet ............................................................................ 12 Schedule RC.1: Memoranda ............................................................................ 26 Schedule RC-B: Debt Securities (excluding investments in Farm Credit institutions and diversified investment funds) ........................................................................... 35 Schedule RC-B.2: Assets Held for Liquidity (Applicable to banks only) ................... 44 Schedule RC-B.3: Demands and Liquidity (Applicable to banks only) ..................... 47 Schedule RC-B.4: Equity Securities .................................................................. 48 Schedule RC-B.5: Investments Memoranda ....................................................... 50 Schedule RC-F: Performance of Loans, Notes, Sales Contracts, and Leases ............ 59 Schedule RC-F1: Performance of Loans, Notes, Sales Contracts, and Leases Loan Performance by Loan Type .............................................................................. 63 Schedule RC-F2: Performance of Loans, Notes, Sales Contracts, Leases and Classified Assets Classifications by Asset Type (Non-FOIA Schedule) ................................... 64 Schedule RC-F3: Risk Ratings for Retail Loans, Notes, Sales Contracts, and Leases (Non-FOIA Schedule) ..................................................................................... 66 Schedule RC-F4: Risk Ratings for Direct Loans from FCS Banks to FCS Associations (Non-FOIA Schedule) ..................................................................................... 67 Schedule RC-F5: Risk Ratings for Discounted Loans to OFI’s (Non-FOIA Schedule) .. 68 Schedule RC-G: Average Daily Amounts for the Quarter ...................................... 69 Schedule RC-H: Accumulated Other Comprehensive Income ................................ 71 Schedule RC-I.1: Off-Balance Sheet Commitments, Contingencies, and Other Items (Excluding Derivatives) ................................................................................... 73 Schedule RC-I.2: Off-Balance Sheet Derivatives Contracts ................................... 77 2 Schedule RC-J: Collateral Position (Non-FOIA Schedule) ..................................... 104 Schedule RC-K: Accrual Loan Activity Reconcilement for Loans, Leases, Notes Receivable (excluding Intra-System Loan), and Sales Contracts .......................... 108 Schedule RC-L: Nonaccrual Loan Activity Reconcilement ..................................... 111 Schedule RC-M: Other-Property-Owned (Net of Depreciation) Activity Reconcilement .................................................................................................................. 113 Schedule RC-N.1: Repricing Opportunities and Relationships (Non-FOIA Schedule) . 114 Schedule RC-N.2: Interest Rate Risk Measurements (Non-FOIA Schedule) ............ 118 Schedule RC-O: Asset Purchase and Sales ........................................................ 122 Schedule RI: Income and Comprehensive Income Statement .............................. 127 Schedule RI-A: Operating Income ................................................................... 134 Schedule RI-B: Net Gains and Losses .............................................................. 136 Schedule RI-C: Operating Expenses ................................................................ 137 Schedule RI-C.1: Other Noninterest Expenses ................................................... 139 Schedule RI-D: Changes in Net Worth ............................................................. 140 Schedule RI-E: Analysis of Allowance for Losses—Loans, Notes, Sales Contracts, and Leases ........................................................................................................ 146 Schedule RC-R.1: Summary of Regulatory Capital ............................................. 151 Schedule RC-R.2: Summary—Regulatory Capital Ratios ...................................... 154 Schedule RC-R.3: Common Cooperative Equities ............................................... 155 Schedule RC-R.4: Tier 1/Tier 2 Numerator ........................................................ 161 Schedule RC-R.5: Miscellaneous Tier 1/Tier 2 Calculations .................................. 170 Schedule RC-R.6: Permanent Capital Numerator ............................................... 173 Schedule RC-R.7: Risk-Weighted Assets (RWAs) ............................................... 178 Appendices ..................................................................................................... 223 Appendix A—System codes ............................................................................ 223 Appendix B—Certification letter ....................................................................... 225 Appendix C—Preparing Excel data file and electronic submission of the CRS and E- Data ........................................................................................................... 226 Appendix D—Notice of Correction to Call Report and YBS Report .......................... 237 Appendix E—Instructions for updating institution profile and branch office directory238 Glossary ...................................................................................................... 248 3 General Instructions This booklet provides instructions for Farm Credit System (FCS or System) institutions to prepare and file Uniform Reports of Financial Condition and Performance (Call Report) with the Farm Credit Administration (FCA). This instruction booklet covers the reporting requirements for all types of reporting System institutions and remains in force until amended or replaced. The current instruction booklet must be retained, in either paper or electronic format, or downloaded from the FCA website. If the institution chooses to retain a hard copy, the booklet must be kept up to date by each reporting institution since the booklet will not be redistributed each quarter. Updates to the instructions, revisions to report forms, changes in reporting requirements, or correction of errors will be distributed to reporting institutions through updates posted on FCA’s website. The quarterly Call Report Excel file, to be completed and submitted to FCA, will be available for download on FCA’s website, www.FCA.gov. Who must report and for what periods Call Report data files are required to be filed electronically with FCA as of the last calendar day of each calendar quarter. Information reported in the Call Reports should be as of the calendar quarter ended and provide information for the calendar quarter ended. The reporting dates are March 31, June 30, September 30, and December 31 of each year. Farm Credit System institutions that have their charters rescinded and discontinue operations (resulting from other than a merger, combination, or consolidation) must prepare and submit a final Call Report for the quarter end in which operations are discontinued. The same report data file form is required to be prepared and filed by all Farm Credit System institutions. However, in some cases, specific schedules, items, or parts of schedules are applicable only to certain types of institutions. Each reporting institution must prepare and submit the Call Report in terms of calendar quarters regardless of the fiscal period used in its own accounting practices. All items reported on the Call Report must reflect all appropriate adjusting and closing entries to the financial records of the reporting institution required to bring them to a calendar-quarter basis. Reporting institutions must prepare Call Reports on a stand-alone basis (i.e., not consolidated or combined with another entity). Each Farm Credit System bank is required to prepare and submit Schedules RC-N.1, Repricing Opportunities and Relationships, and RC-N.2, Interest Rate Risks Measurements, as a supplement to the Call Report. The reporting dates for information on these two supplemental schedules are the same quarterly month ends as the other Call Report schedules (i.e., March 31, June 30, September 30, and December 31 of each year). However, unlike the regular Call Report data file, which must be filed earlier,
Load more

Recommended publications
  • Banking Policy Issues in the 115Th Congress
    Banking Policy Issues in the 115th Congress David W. Perkins Analyst in Macroeconomic Policy March 7, 2018 Congressional Research Service 7-5700 www.crs.gov R44855 Banking Policy Issues in the 115th Congress Summary The financial crisis and the ensuing legislative and regulatory responses greatly affected the banking industry. Many new regulations—mandated or authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) or promulgated under the authority of bank regulators—have been implemented in recent years. In addition, economic and technological trends continue to affect banks. As a result, Congress is faced with many issues related to the bank industry, including issues concerning prudential regulation, consumer protection, “too big to fail” (TBTF) banks, community banks, regulatory agency design and independence, and market and economic trends. For example, the Financial CHOICE Act (H.R. 10) and the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) propose wide ranging changes to the financial regulatory system, and include provisions related to many of these banking issues. Prudential Regulation. This type of regulation is designed to ensure banks are safely profitable and unlikely to fail. Regulatory ratio requirements agreed to in the international agreement known as the Basel III Accords and the Volcker Rule are examples. Ratio requirements require banks to hold a certain amount of capital on their balance sheets to better enable them to avoid failure. The Volcker Rule prohibits certain trading activities and affiliations at banks. Proponents argue the rules appropriately balance the need for safety and soundness with regulatory burden.
    [Show full text]
  • A Large-Scale Evaluation of U.S. Financial Institutions' Standardized
    A Large-Scale Evaluation of U.S. Financial Institutions' Standardized Privacy Notices Lorrie Faith Cranor, Pedro Giovanni Leon, Blase Ur florrie, pedrogln, [email protected] Carnegie Mellon University, Pittsburgh, PA ABSTRACT Financial institutions in the United States are required by the Gramm-Leach-Bliley Act to provide annual privacy notices. In 2009, eight federal agencies jointly released a model privacy form for these disclosures. While the use of this model privacy form is not required, it has been widely adopted. We automatically evaluated 6,191 U.S. financial institutions' privacy notices. We found large variance in stated practices, even among institutions of the same type. While thousands of financial institutions share personal information without providing the opportunity for consumers to opt out, some institutions' practices are more privacy-protective. Regression analyses show that large institutions and those headquartered in the Northeastern region share consumers' personal information at higher rates than all other institutions. Furthermore, our analysis helped us uncover institutions that do not let consumers limit data sharing when legally required to do so, as well as institutions making self-contradictory statements. We discuss implications for privacy in the financial industry, issues with the design and use of the model privacy form, and future directions for standardized privacy notice. 1 1 Introduction When the United States Congress was considering the Gramm-Leach-Bliley Act of 1999 (GLBA), allowing the consolidation of different types of financial institutions, privacy ad- vocates argued that it was important to notify consumers about these institutions' data practices and allow consumers to limit the use and sharing of their data [19].
    [Show full text]
  • FFIEC June 2020 Call Report Supplemental Instructions
    FFIEC Federal Financial Institutions Examination Council Arlington, VA 22226 CALL REPORT DATE: June 30, 2020 SECOND 2020 CALL, NUMBER 292 SUPPLEMENTAL INSTRUCTIONS June 2020 Call Report Materials New Call Report data items take effect this quarter in Schedule RC-C, Part I, Loans and Leases, and Schedule RC-M, Memoranda, of the FFIEC 031, FFIEC 041, or FFIEC 051 Call Report forms to provide information about an institution’s eligible loan modifications under Section 4013 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and its participation in the Paycheck Protection Program (PPP), the PPP Liquidity Facility, and the Money Market Mutual Fund Liquidity Facility. No new topics have been added to the Supplemental Instructions for June 2020. However, the topic on “Recent Banking Agency Actions Affecting Regulatory Capital” in the March 2020 Supplemental Instructions has been updated and retitled “Banking Agencies’ Recent COVID-19-Related Activities Affecting the Call Report.” In addition, these Supplemental Instructions again include an Appendix providing information on certain sections of the CARES Act that affect accounting and regulatory reporting. This Appendix was initially added to the Supplemental Instructions for March 2020 and has been updated this quarter. In general, institutions with domestic offices only and total assets less than $5 billion as of June 30, 2019, were eligible to file the FFIEC 051 Call Report as of March 31, 2020, but such institutions had the option to file the FFIEC 041 Call Report instead as of that date. Institutions are expected to file the same report form, either the FFIEC 051 or the FFIEC 041, for each quarterly report date during 2020.
    [Show full text]
  • 031-041 General Instructions for the Call Report June 2020
    FFIEC 031 and 041 GENERAL INSTRUCTIONS GENERAL INSTRUCTIONS Schedules RC and RC-A through RC-V constitute the FFIEC 031 and FFIEC 041 versions of the Consolidated Report of Condition and its supporting schedules. Schedules RI and RI-A through RI-E constitute the FFIEC 031 and FFIEC 041 versions of the Consolidated Report of Income and its supporting schedules. The Consolidated Reports of Condition and Income are commonly referred to as the Call Report. For purposes of these General Instructions, the Financial Accounting Standards Board (FASB) Accounting Standards Codification is referred to as “ASC.” Unless the context indicates otherwise, the term “bank” in the Call Report instructions refers to both banks and savings associations. WHO MUST REPORT ON WHAT FORMS Every national bank, state member bank, insured state nonmember bank, and savings association is required to file a consolidated Call Report normally as of the close of business on the last calendar day of each calendar quarter, i.e., the report date. The specific reporting requirements for a bank depend upon the size of the bank, whether it has any "foreign" offices, and the capital standards applicable to the bank. Banks must file the appropriate report form as described below: (1) BANKS WITH FOREIGN OFFICES: Banks of any size that have any "foreign" offices (as defined below) must file quarterly the Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices (FFIEC 031). For purposes of these reports, all of the following constitute "foreign" offices: (a) An International Banking Facility (IBF); (b) A branch or consolidated subsidiary in a foreign country; and (c) A majority-owned Edge or Agreement subsidiary.
    [Show full text]
  • Federal Register/Vol. 86, No. 13/Friday, January 22, 2021
    6580 Federal Register / Vol. 86, No. 13 / Friday, January 22, 2021 / Proposed Rules the Board’s granting of relief to a bank regulations that impose additional the exemption, may be conditional or seeking relief from the requirements of reporting, disclosures, or other new unconditional, may apply to particular the Board’s SAR regulations, when such requirements on insured depository persons or classes of persons, and may relief would be beneficial from a safety- institutions generally to take effect on apply to transactions or classes of and-soundness and anti-money the first day of a calendar quarter that transactions. laundering regulatory perspective. The begins on or after the date on which the (ii) The Board will seek FinCEN’s proposed rule would be issued pursuant regulations are published in final concurrence with regard to any to the Board’s safety-and-soundness form.14 The proposed rule would not exemption request that would also authority over supervised institutions. impose additional reporting, disclosure, require an exemption from FinCEN’s The proposed rule will apply to small or other requirements; therefore the SAR regulations, and may consult with bank holding companies and their requirements of the RCDRIA do not FinCEN regarding other exemption nonbank subsidiaries and small state apply. requests. The Board also may consult member banks as well as Edge and However, the agencies invite with the other state and federal banking agreement corporations, and U.S. offices comments that further will inform the agencies and consider comments before of foreign banking organizations agencies’ consideration of RCDRIA. granting any exemption. supervised by the Federal Reserve.
    [Show full text]
  • Ffiec 051 Call Report Instruction Book Update
    FFIEC 051 CALL REPORT INSTRUCTION BOOK UPDATE JUNE 2020 IMPORTANT NOTE The June 2020 Call Report Instruction Book Update excludes updates pertaining to interim final rules (IFRs) and a final rule published by one or all of the banking agencies from March through June 2020 as well as Section 4013 of the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provides optional temporary relief from accounting for eligible loan modifications as troubled debt restructurings. The IFRs and final rule revise certain aspects of the agencies’ regulatory capital rule, amend the Federal Reserve Board’s (Board) Regulation D on reserve requirements, except certain insider loans from the Board’s Regulation O, and modify the Federal Deposit Insurance Corporation’s (FDIC) deposit insurance assessment rules. The agencies have received approvals from the U.S. Office of Management and Budget to implement changes to the Call Report arising from these interim final rules, the final rule, and Section 4013 of the CARES Act. Instructions for these Call Report changes are provided in the separate standalone June 2020 COVID-19 Related Supplemental Instructions (Call Report), which were attached to the agencies’ Financial Institution Letter for the Consolidated Reports of Condition and Income for Second Quarter 2020 and are available on the FFIEC Reporting Forms webpages for the Call Report and the FDIC Bank Financial Reports webpage. The June 2020 COVID-19 Related Supplemental Instructions (Call Report) include instructions for this quarter’s new Call Report items in Schedule RC-C, Part I, Loans and Leases, on eligible loan modifications under Section 4013 and Schedule RC-M, Memoranda, on U.S.
    [Show full text]
  • Over the Line: Asset Thresholds in Bank Regulation
    Over the Line: Asset Thresholds in Bank Regulation May 3, 2021 Congressional Research Service https://crsreports.congress.gov R46779 SUMMARY R46779 Over the Line: May 3, 2021 Asset Thresholds in Bank Regulation Marc Labonte As of December 31, 2020, there were over 5,000 banks in the United States. While certain kinds Specialist in of banks may be similar to each other, the industry as a whole is made of up institutions that Macroeconomic Policy differ in a variety of ways, in some ways quite drastically. How concentrated a bank is in loan making, how concentrated that lending is in specific loan types or geographic markets, how many David W. Perkins other financial services the bank provides, and how much risk it is willing to take on are just a Specialist in few characteristics across which banks may differ significantly. Perhaps the most striking Macroeconomic Policy disparity across the industry is bank size, typically measured as the value of the assets a bank owns. Nearly a fifth of banks hold less than $100 million in assets, and the industry median is about $300 million. Meanwhile, the largest U.S. bank has over $3 trillion in assets, with three others over or near $2 trillion. Relative to large banks, small banks also tend to focus more on traditional commercial bank activities such as loan making and deposit taking; be less or not at all involved in other activities such as securities dealing and derivatives; have fewer resources to dedicate to regulatory compliance; and individually pose less or no risk to the stability of the financial system.
    [Show full text]
  • Call Report Instruction Book Update March 2015
    CALL REPORT INSTRUCTION BOOK UPDATE MARCH 2015 FILING INSTRUCTIONS NOTE: This instruction book update is designed for two-sided (duplex) printing. The pages listed in the column below headed “Remove Pages” are no longer needed in the Instructions for Preparation of Consolidated Reports of Condition and Income and should be removed and discarded. The pages listed in the column headed “Insert Pages” are included in this instruction book update and should be filed promptly in your instruction book. Remove Pages Insert Pages i – v (3-13, 12-14) i – v (3-15) 2a – 4 (6-14) 2a – 4 (3-15) 13 – 14 (12-14) 13 – 14 (3-15) RI-7 – RI-8 (9-11) RI-7 – RI-8 (3-15) RI-23 – RI-24 (6-14) RI-23 – RI-24 (3-15) RI-35 – RI-36 (3-13) RI-35 – RI-39 (3-15) RC-C-36a – RC-C-36b (9-11) RC-C-36a – RC-C-36b (3-15) RC-D-9 – RC-D-10 (9-11) RC-D-9 – RC-D-10 (3-15) RC-E-19 – RC-E-20 (12-14) RC-E-19 – RC-E-20 (3-15) RC-L-5 – RC-L-8 (3-11, 6-12, 3-13) RC-L-5 – RC-L-8 (3-15) RC-L-19 – RC-L-20 (6-09) RC-L-19 – RC-L-20 (3-15) RC-M-5 – RC-M-6 (3-11) RC-M-5 – RC-M-6 (3-15) RC-O-5 – RC-O-6 (6-14) RC-O-5 – RC-O-6 (3-15) RC-O-9 – RC-O-12 (3-12) RC-O-9 – RC-O-12 (3-15) RC-O-29 – RC-O-30 (6-13) RC-O-29 – RC-O-30 (3-15) RC-R-1 – RC-R-65 RC-R-1 – RC-R-120 (3-15) A-5 – A-6 (3-13) A-5 – A-6 (3-15) A-10a – A-12b (6-09, 9-13) A-11 – A-12b (3-15) A-16a – A-16b (3-13) A-16a – A-16b (3-15) A-34a – A-34b (9-11) A-34a – A-34b (3-15) A-35 – A-38 (9-10, 9-12) A-35 – A-38 (3-15) A-43 – A-44 (9-10) A-43 – A-44 (3-15) A-66a – A-72 (6-02, 9-10, 6-12) A-67 – A-72 (3-15) A-75 – A-76 (9-10) A-75 – A-76
    [Show full text]
  • CRA Comment Letter
    Wednesday, April 8, 2020 Attention: Comment Processing Office of the Comptroller of the Currency 400 7th Street SW, Suite 3E-218 Washington, DC 20219 Robert E. Feldman, Executive Secretary Attention: Comments Federal Deposit Insurance Corporation 550 17th Street NW Washington, DC 20429 RE: OCC Docket ID OCC-2018-0008; FDIC RIN 3064-AF22 Dear Comptroller Otting and Chairman McWilliams: On December 12, 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) jointly issued a notice of proposed rulemaking (NPR, or proposal)1 proposing to significantly change regulations under the Community Reinvestment Act (CRA). We are pleased to offer comments on the NPR. We are researchers in the Housing Finance Policy Center2 at the Urban Institute, a Washington, DC, nonprofit research organization whose mission is “to open minds, shape decisions, and offer solutions through economic and social policy research.” The views we express are our own and should not be attributed to the Urban Institute, its trustees, or its funders. Introduction The Community Reinvestment Act, enacted in 1977, states that “regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.”3 The CRA is a public disclosure statute. Bank regulators are required to periodically assess each “institution’s record of meeting the credit needs of its entire community, including low- and moderate- income (LMI) neighborhoods,” and to make much of the assessment and supporting details public.4 This is in stark contrast to safety and soundness examinations of banks, the unauthorized release of which is a criminal offense.5 Implementation of the CRA is the concurrent responsibility of the three federal agencies that supervise banks: the OCC, the FDIC, and the Federal Reserve.
    [Show full text]
  • Banking Policy Issues in the 116Th Congress
    Banking Policy Issues in the 116th Congress February 21, 2019 Congressional Research Service https://crsreports.congress.gov R45518 SUMMARY R45518 Banking Policy Issues in the 116th Congress February 21, 2019 Regulation of the banking industry has undergone substantial changes over the past decade. In response to the 2007-2009 financial crisis, many new bank regulations were David W. Perkins, implemented pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Coordinator Act of 2010 (Dodd-Frank Act; P.L. 111-203) or under the existing authorities of bank Analyst in Macroeconomic regulators to address apparent weaknesses in the regulatory regime. While some Policy observers view those changes as necessary and effective, others argued that certain regulations were unjustifiably burdensome. To address those concerns, the Economic Cheryl R. Cooper Growth, Regulatory Relief, and Consumer Protection Act of 2018 (P.L. 115-174) relaxed Analyst in Financial certain regulations. Opponents of that legislation argue it unnecessarily pared back Economics important safeguards, but proponents of deregulation argue additional pare backs are needed. Meanwhile, a variety of economic and technological trends continue to affect Darryl E. Getter banks. As a result, the 116th Congress faces many issues related to banking, including the Specialist in Financial following: Economics Safety and Soundness. Banks are subject to regulations designed to reduce the Marc Labonte likelihood of bank failures. Examples include requirements to hold a certain amount of Specialist in capital (which enables a bank to absorb losses without failing) and the so-called Volcker Macroeconomic Policy Rule (a ban on banks’ proprietary trading). In addition, anti-money laundering requirements aim to reduce the likelihood banks will execute transactions involving Rena S.
    [Show full text]
  • Supervisory Statement Determination of Depository Institution and Credit
    Supervisory Statement Determination of Depository Institution and Credit Union Asset Size For Purposes of Sections 1025 and 1026 of the Dodd-Frank Wall Street Reform and Consumer Protection Act The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and National Credit Union Administration (NCUA) (the Prudential Regulators), and the Bureau of Consumer Financial Protection (CFPB) (collectively, the Agencies), are issuing this Supervisory Statement to provide clarity and transparency on how and when the Agencies will determine the total assets of an insured depository institution or an insured credit union for purposes of their supervisory and enforcement responsibilities under sections 1025 and 1026 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd- Frank). Background The subject of this Supervisory Statement is supervisory and enforcement authority over insured depository institutions and insured credit unions within the meaning of Dodd- Frank (Institutions) with respect to Federal consumer financial law. Sections 1025 and 1026 of Dodd-Frank address these matters. Under section 1025, the CFPB has exclusive supervisory authority and primary enforcement authority with respect to Institutions with total assets of more than $10 billion (Large Institutions) and any of their affiliates for purposes of Federal consumer financial law. Section 1026 confirms that the Prudential Regulators will retain supervisory and enforcement authority with respect to other Institutions for these purposes. The Dodd-Frank Act does not specify how or when to determine total asset size for purposes of sections 1025 and 1026. However, the Agencies believe that they should adopt reasonable policies and procedures that will allow them to fulfill their responsibilities in a manner consistent with the statute’s purposes.
    [Show full text]
  • Public Disclosure Community Reinvestment Act
    Comptroller of the Currency Administrator of National Banks Small Bank PUBLIC DISCLOSURE November 30, 1998 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION The First National Bank of Freeman Charter Number 6181 Fourth and Poplar Streets Freeman, South Dakota 57029 Office of the Comptroller of the Currency Sioux Falls Field Office 300 North Dakota Avenue, Suite 504 Sioux Falls, South Dakota 57101 NOTE: This evaluation is not, nor should it be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion or opinion of the federal financial supervisory agency concerning the safety and soundness of this financial institution. GENERAL INFORMATION The Community Reinvestment Act requires each federal financial supervisory agency to use its authority when examining financial institutions subject to its supervision, to assess the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. Upon conclusion of such examination, the agency must prepare a written evaluation of the institution's record of meeting the credit needs of its community. This document is an evaluation of the Community Reinvestment Act (CRA) performance of The First National Bank of Freeman, Freeman, South Dakota, prepared by the Office of the Comptroller of the Currency, the institution's supervisory agency, as of November 30, 1998. The agency rates the CRA performance of an institution consistent with the provisions set forth in Appendix A to 12 CFR Part 25. INSTITUTION'S CRA RATING: This institution is rated “Satisfactory.” C The First National Bank of Freeman meets the credit needs of the community, as demonstrated by its average loan-to-deposit ratio of 47% since the bank’s prior CRA examination.
    [Show full text]