fr 2900 reporting 2900 the report of transaction accounts, other deposits, and vault cash, or fr...
TRANSCRIPT
Agenda
Purpose
Who Reports
FR 2900 Data Items
General Instructions
FRB Data Analysis
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FR 2900
The Report of Transaction Accounts, Other Deposits, and Vault Cash, or FR 2900, collects information on transaction accounts, time and savings deposits, vault cash, and other reservable obligations from depository institutions
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must DIs file an FR 2900 Report?
Why
FR 2900
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Regulation D
The filing and collection of the FR 2900report is in compliance with Regulation D of the Federal Regulations and thus is mandated by law
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Purpose
Calculation of Reserve Requirements
Calculation of Money Stock
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Reserve Requirements
A percentage of a depository institution’s (DI’s) deposits (or fractional reserves) that must be held either as cash in the “vault” of the DI, on deposit at the Federal Reserve Bank, or at a correspondent bank
Tools of Monetary Policy
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Tools of Monetary Policy
Reserve Requirements
Discount Rate
Open Market Operations
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Money StockCommonly referred to as Money Supply
M1 – Narrowest and most liquid measure of money Currency Travelers Checks Demand Deposits Other Transaction accounts
M2 – A broader measure M1 Small Time Deposits (less than $100,000) Savings deposits, including MMDAs and non-institutional
money market mutual funds
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FR 2900 Data H.6 Release – Money Stock Measures
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FR 2900 Data
Flowchart
Board of Governors
Processing Analysis
Open Market DeskFRB NY
Projections Publications
Depository Institutions
Monetary & Reserves Projections
Analysis Public
Senior Staff
F.O.M.C.
Processing Analysis
PublicationsReserves EconomicAnalysis
Federal Reserve Banks
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Who Reports FR 2900 Data?
Depository institutions* with Net Transaction Accounts greater than the Exemption Amount($10.7 Million for 2011)
THRIFT
$10.7M
*Depository institutions - generally refers to commercial banks, savings banks, savings and loan associations, and credit unions. 12
Net Transaction Accounts
Total Transaction Accounts - (Due From + Cash Items)
= Net Transaction Accounts (NTA)
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FR 2900 Weekly
Reporting Categories
NTA > $ 10.7 milDeposits* > $ 252.6 mil
FR 2900 Quarterly
NTA > $ 10.7 milDeposits < $ 252.6 mil
FR 2910AAnnual
Non-Reporter
NTA < $ 10.7 mil Deposits > $ 10.7 mil
Deposits < $ 10.7 mil
*Deposits - refers to the sum of total transaction accounts, savings deposits, and small time deposits. DIs are required to file weekly if Deposits exceed the reduced reporting limit, which is $1.415 billion for 2011, regardless of level of NTA.
NonexemptInstitutions
(Detailed Reporting)
ExemptInstitutions
(Reduced Reporting)
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Reporting Frequency
Determination
FR 2900 – Based on the maximum of thirteen weekly averages ending with the last full report week in June
FR 2900Q – Based on the maximum of the two weekly averages from the March and June reports
FR 2910a – Based on a single day’s, or one day’s, data reported as of June 30th
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Demand Deposits
Other Transaction&
Non-transactionAccounts
Savings & Time
Standard Deposits
PromissoryNotes
Fed FundsPurchased
RepurchaseAgreements
PrimaryObligations
Liabilities
If entered into with NON-EXEMPT Entities
TransactionAccounts
Reportable Liabilities Flowchart
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FR 2900 Data Items
Transaction accounts (A.1.a - A.1.c. & A.2) Deductions
- Due from DIs (B.1)- Cash Items in Process of Collection (B.2)
NTA
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FR 2900 Data Items
Nontransaction Accounts- Savings Deposits (C.1)- Time Deposits (D.1)
• Time Deposits >=$100,000 (F.1)
- Total Non-personal Savings and Time (BB.1)• Annual
Vault Cash (E.1)- Reserve Requirements are satisfied with vault cash and
FRB Account Balances (or balances held with a pass through correspondent)
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Report must be prepared and received no later than the Thursdayfollowing the Monday report date
Timeliness
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Close of Business - Defined
Close of Business:
Cut-off time for posting to general ledger
Reasonable and applied consistently
Both debit and credit balances must be recorded as of the same business day
All transactions occurring during the period of time thebooks are open must be posted
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Mergers/P&As
FR 2900 balances should be consolidated as of the first calendar day that the nonsurvivor no longer exists
Based on the legal date of the merger regardless of whether it occurs on a weekday, weekend, or holiday
Contact us
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FRB Data Analysis
Enhances data quality Stages of Review
- Obvious- Individualized- System generated edits
• Validity• Quality• Interseries
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Interseries Editing
Compares data reported as of similar dates for analogous items from two different reports (e.g., FR 2900 vs. FFIEC 031/041)
Discrepancies may be due to a reporting error or legitimate differences
DIs should research differences, revise prior periods (if necessary), and begin reporting data correctly
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Revisions
Once an error is discovered, revisions will be requested either... Back to the beginning of the error Back to the last finalized Call Report Back further at the discretion of the Board of
Governors
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Filing the FR 2900
IESUB – Internet Electronic Submission Improved Quality - Checks for validity errors Enhances Communication - Lets you provide
comments for fluctuations Saves Time - Allows submission of multiple
regulatory reports Provides Confidence – Secure delivery and
confirmation receipt for every submission Preferred method of filing
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QUESTIONS?
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