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Financial Services Law Insights and Observations

FFIEC issues statement regarding Call Report filing delays

Federal Issues Covid-19 FFIEC Call Report

Federal Issues

On March 25, the FFIEC issued a statement providing that the federal banking agencies will not take action against any institution for submitting March 31, 2020, Reports of Condition and Income (Call Reports) after the respective filing deadline, as long as the report is submitted within 30 days of the official filing date. Institutions are encouraged to contact their primary federal regulator in advance of the official filing date if they anticipate a delayed submission.