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The Federal Financial Institutions Examination Council (FFIEC) has approved a new streamlined FFIEC 051 Call Report for eligible small institutions, which generally are institutions with domestic offices only and total assets of less than $1 billion. The implementation of this new report is part of the FFIEC's community bank Call Report burden-reduction initiative. The FFIEC also approved certain burden-reducing revisions to the existing FFIEC 031 and FFIEC 041 Call Reports. These revised Call Report requirements will take effect March 31, 2017, subject to approval by the U.S. Office of Management and Budget.
Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised banks and savings associations, including community institutions.
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