The Federal Financial Institutions Examination Council approved annual reporting requirements for insured banks on loans to small businesses and small farms. These reporting requirements implement Section 122 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA).
The reporting requirements are satisfied by completing new items which will be added to the Reports of Condition and Income filed by insured commercial banks. In general, banks are required to report information once each year as of June 30 on the number and amount currently outstanding of (a) nonfarm, nonresidential real estate loans and commercial loans with original amounts of $100,000 or less, more than $100,000 through $250,000, and more than $250,000 through $1,000,000 and (b) agricultural real estate and agricultural loans with original amounts of $100,000 or less, more than $100,000 through $250,000, and more than $250,000 through $500,000. These reporting requirements are designed to accommodate Congressional interest in assessing the availability of credit to these sectors of the economy.
In order to eliminate redundant reporting by the smallest institutions, virtually every loan less than $100,000 can be noted with a “yes/no” check off that, if answered affirmatively, will require that the institution only report the number of small business and/or small farm loans in their portfolio. Specific information on the amounts currently outstanding for these types of loans would be obtained from the information which institutions report on the composition of their loan portfolios elsewhere in their “Reports of Conditions”.
Call report instructions include specific details regarding the reporting requirements for purposes of completing the Reports of Condition and Income. The effective date for these reporting requirements is the June 30, 1993, report date and thereafter.