Bank balance sheet, plus additional schedules detailing major balance sheet and off-balance sheet items, as of a specific date. Banks are required by regulation to file sworn statements of financial condition on the last day of each calendar quarter at the request (call) of a state or federal regulatory agency, hence the name Call Report. The call report also includes the bank report of income and stockholder dividends. A copy of the call report filed by all federally insured banks also is forwarded to the Federal Deposit Insurance Corporation, which makes these reports available.
Bank call reports are one of the two primary forms of bank supervision by regulatory agencies, the other being on-site visits by bank examiners. Quarterly filing of the Report of Condition allows a regulator to monitor the financial condition of banks with a higher than normal percentage of nonperforming assets, and schedule more frequent examinations if necessary. All three federal banking agencies, the Federal Reserve Board, the Comptroller of the Currency, and the FDIC, have uniform reporting guidelines, compiled by the Federal Financial Institutions Examination Council for filling out call reports. Smaller banks and bank holding companies file less detailed reports than regional banks and money center banks. Full name: Reports of Condition and Income.
