Consolidated Reports of Condition

What are Consolidated Reports of Condition?

Consolidated Reports of Condition are reports that are filed quarterly by banks and all regulated financial institutions with the Federal Financial Institutions Examination Council (FFIEC)

How Do Consolidated Reports of Condition Work?

Consolidated Reports of Condition are commonly refered to as a call report. They are not the same as the Uniform Bank Performance Report, which is often filed in conjunction with the Consolidated Reports of Condition.

Consolidated Reports of Condition are similar to a 10-Q in that they include a quarterly balance sheet, income statement, and "narrative" explaining the components of the financial statements to the public and regulators. Institutions must conform their reports to a standard format provided by the FFIEC. The Federal Deposit Insurance Corporation (FDIC) audits Consolidated Reports of Condition and stores them for public use.

You can view the FFIEC's Consolidated Reports of Condition form here.

Why Do Consolidated Reports of Condition Matter?

Every national bank, state member bank, and insured nonmember bank is obligated by its primary federal regulator (usually the FDIC or the Office of Thrift Supervision) to file Consolidated Reports of Condition as of the end of the last day of a calendar quarter. Consolidated Reports of Condition provide an objects of comparison to analysts, investors, state regulators, and the public for compare institutions to each other.