FR 2900 Reporting

Statistical & Financial Reports

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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