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    2018 Call Report Series: New FFIEC 041 Call Report Changes

    $219.00
    *
    This is Part III of our IV-part 2018 Call Report Series. This session covers recent FFIEC #041 Call Report changes, and continuously difficult items for this Report.

    All attendees will receive a complimentary 3-part Toolkit, which will include the following materials:

    • Forms for FFIEC 041-Reports of Condition and Income (June 30, 2017)
    • FFIEC 031 and 041 Reports of Condition and Income Instruction Book (Most Recent Update March 31, 2017)
    • FFIEC 051 and 041 Optional Worksheet for Calculating Call Report Applicable Income Taxes (June 30, 2017)

    Overview

    The Federal Financial Institutions Examination Council (FFIEC) recently implemented a new streamlined FFIEC 051 Call Report for eligible small institutions and changes to the existing FFIEC 031 and FFIEC 041 versions of the Consolidated Reports of Condition and Income (Call Report).

    All U.S. domestic banks are required to file either FFIEC 041 or FFIEC 051. An institution eligible to file the FFIEC 051 report (as extensively explored in Call Report Series Parts I and II) may choose instead to file the FFIEC 041 report.

    If your institution is otherwise eligible to file FFIEC 051, you may instead be required to file FFIEC 041; this determination will be based on whether your institution is significantly engaged in complex, specialized, or other higher risk activities, such as: trading; derivatives; mortgage banking; fair value option usage; servicing, securitization, and asset sales; and variable interest entities

    In this webinar, we will cover all recent changes and review continuously difficult items in FFIEC 041.

    Covered Topics

    This webinar covers the following recent changes to FFIEC 041:

    • Premium Amortization on Purchased Callable Debt Securities – New Accounting Rules - Schedule RI-AQ, Line 2
    • Equity Securities – New Accounting Rules – Schedule RC, Lines 26a and 26b
    • OCI “Own Credit Risk” – New Accounting Rules – Schedule RI-A, Line 10; Schedule RC, Lines 26a and 26b; Schedule RC-R, Part 1, Line 3
    • Sale of OREO – New Accounting Rules – Schedule RI-A, line 2
    • Leases – New Accounting Rules – Schedule RC-M, Line 5b
    • Eliminated Lines – Schedule RI, Line 14; Schedule RC-R, Line 18b
    • Increase in Time Deposit Thresholds – Schedules RC-K, RI, RC-E, RC-Q, RC-C

    This webinar also covers the following continuously difficult items on the FFIEC 041 Call Report, including:

    • OTTI Losses on HTM and AFS Securities – Schedule RI
    • Unused Commitments to Asset Based Commercial Paper Conduits with Original Maturities of 1 Year or Less – Schedule RC-s, Line 18b
    • Level of External Audit Work – Schedule RC, Memo Line 1
    • Net Gain or Loss on Sales of, and OTTI, on Equity Securities without Readily Determinable FV – Schedule RC Lines 11, 5, 2b; Schedule RC-D, Lines 9 and Memo Lines 7a and 7b; Schedule RC-B, Line 7; Schedule RI Lines 5c, 5k, 6a and 6b
    • Custodian Bank Deduction – Schedule RC-O
    • Home Equity Lines of Credit Converted – Schedule RC-C Lines 1c(2)(a) and 1c(2)(b)
    • Additional Preprinted Captions for Itemizing and Describing Lines that Exceed Reporting Thresholds – Schedules RI-E, RC-F and RC-G

    Who Should Attend?

    This informative session is designed for staff who review or are responsible for Call Report accuracy, including:

    • CFOs
    • Controllers
    • CEOs
    • Internal Auditors
    • Supervisory Committee Members, and
    • Board members
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    All attendees will receive a complimentary 3-part Toolkit, which will include the following materials:

    • Forms for FFIEC 041-Reports of Condition and Income (June 30, 2017)
    • FFIEC 031 and 041 Reports of Condition and Income Instruction Book (Most Recent Update March 31, 2017)
    • FFIEC 051 and 041 Optional Worksheet for Calculating Call Report Applicable Income Taxes (June 30, 2017)

    Overview

    The Federal Financial Institutions Examination Council (FFIEC) recently implemented a new streamlined FFIEC 051 Call Report for eligible small institutions and changes to the existing FFIEC 031 and FFIEC 041 versions of the Consolidated Reports of Condition and Income (Call Report).

    All U.S. domestic banks are required to file either FFIEC 041 or FFIEC 051. An institution eligible to file the FFIEC 051 report (as extensively explored in Call Report Series Parts I and II) may choose instead to file the FFIEC 041 report.

    If your institution is otherwise eligible to file FFIEC 051, you may instead be required to file FFIEC 041; this determination will be based on whether your institution is significantly engaged in complex, specialized, or other higher risk activities, such as: trading; derivatives; mortgage banking; fair value option usage; servicing, securitization, and asset sales; and variable interest entities

    In this webinar, we will cover all recent changes and review continuously difficult items in FFIEC 041.

    Covered Topics

    This webinar covers the following recent changes to FFIEC 041:

    • Premium Amortization on Purchased Callable Debt Securities – New Accounting Rules - Schedule RI-AQ, Line 2
    • Equity Securities – New Accounting Rules – Schedule RC, Lines 26a and 26b
    • OCI “Own Credit Risk” – New Accounting Rules – Schedule RI-A, Line 10; Schedule RC, Lines 26a and 26b; Schedule RC-R, Part 1, Line 3
    • Sale of OREO – New Accounting Rules – Schedule RI-A, line 2
    • Leases – New Accounting Rules – Schedule RC-M, Line 5b
    • Eliminated Lines – Schedule RI, Line 14; Schedule RC-R, Line 18b
    • Increase in Time Deposit Thresholds – Schedules RC-K, RI, RC-E, RC-Q, RC-C

    This webinar also covers the following continuously difficult items on the FFIEC 041 Call Report, including:

    • OTTI Losses on HTM and AFS Securities – Schedule RI
    • Unused Commitments to Asset Based Commercial Paper Conduits with Original Maturities of 1 Year or Less – Schedule RC-s, Line 18b
    • Level of External Audit Work – Schedule RC, Memo Line 1
    • Net Gain or Loss on Sales of, and OTTI, on Equity Securities without Readily Determinable FV – Schedule RC Lines 11, 5, 2b; Schedule RC-D, Lines 9 and Memo Lines 7a and 7b; Schedule RC-B, Line 7; Schedule RI Lines 5c, 5k, 6a and 6b
    • Custodian Bank Deduction – Schedule RC-O
    • Home Equity Lines of Credit Converted – Schedule RC-C Lines 1c(2)(a) and 1c(2)(b)
    • Additional Preprinted Captions for Itemizing and Describing Lines that Exceed Reporting Thresholds – Schedules RI-E, RC-F and RC-G

    Who Should Attend?

    This informative session is designed for staff who review or are responsible for Call Report accuracy, including:

    • CFOs
    • Controllers
    • CEOs
    • Internal Auditors
    • Supervisory Committee Members, and
    • Board members
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    2018 Call Report Series: Basel III Regulatory Capital Ratio Computations for Depository Institutions

    $219.00
    This is Part IV of our IV-part 2018 Call Report Series. This webinar explores the most important schedule in the quarterly Call Report package – Schedule RC-R, Regulatory Capital - and how it is designed to compute the four basic Basel III Capital Ratios.
    Presenter:

    Paul J. Sanchez

    Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, “Accounting Basics for Community Financial Institutions” (Financial Managers Society, 2 nd edition, Chicago, 2009) and the “Ideas an Analysis Letter: The Sanchez Take” (see www.sanchez-psa.com). As a contributing author, his chapter on ‘An Auditor’s Approach to Risk-Based Auditing: What to Audit and When,’ is included in the textbook, “Effective Auditing for Corporates: Key Developments in Practice and Procedures,” (Bloomsbury Information, Ltd, London, 2012).