What Is a Call Report?

A call report is a report that must be filed by banks in the U.S. on a quarterly basis. A call report contains information about the bank's financial health and examining multiple call reports can provide insight regarding the welfare of the U.S. banking system. Banks that are required to file call reports are national banks, state member banks, and nonmember banks.

The call report contains items such as the bank's income statement, balance sheet, loan information, deposit information, investment information, changes in the bank's capital, asset sale information and several other sections discussing aspects of the bank's viability. Banks are required to file the call report no later than 30 days after the end of each quarter. The Federal Insurance Deposit Commission (FDIC) is tasked with overseeing compliance with call report filing requirements. The call report is officially known as the "Report of Condition and Income" and can also be called the RC report.

Call Report Explained

Call reports are required to be submitted to the Federal Financial Institutions Examination Council (FFIEC). The Federal Financial Institutions Examination Council is an interagency entity that coordinates regulatory efforts between the Federal Reserve, the Federal Insurance Deposit Commission (FDIC) and the Office of Thrift Supervision. Banks must use the standardized forms provided by the Federal Financial Institutions Examination Council to submit their data and each call report is audited by a Federal Insurance Deposit Commission analyst for errors and audit flags. These reports are available to the public on the Federal Insurance Deposit Commission website and are a resource to people looking for information regarding the health of the U.S. banking system. Credit unions and thrift institutions are also required to file similar reports with their own regulatory agencies.