PART – 350
Requirement for Annual Disclosure Statement
- Each bank shall prepare as of December 31 and make available on request an annual
disclosure statement
- Statement should be made available to the public by March 31 of the following year
OR within five days after the mailing of annual reports to shareholders (if done),
whichever occurs first
- Statement should be available continuously until the statement for the succeeding
year becomes available
Contents of Annual Disclosure
- Should reflect a fair presentation of the bank’s financial condition at the end of that
year and the preceding year, the results of operations for each such year.
- Statement may consist of the entire Call Report
- If not entire, at least RC, RC-N, RI, RI- A, B, E, P
- Statement should include other information as the FDIC may request
- Statement should also include a disclaimer advising the public that the FDIC has not
reviewed the information
Alternative Annual Disclosure
- Bank’s annual report to security holders
- Copies of audited financial statements and the certificate or report of the independent
accountant
- Holding Company form FR-Y or audited holding company consolidated financial
statements (one-bank) provided that not more than 5% of the consolidated TA’s and
TL’s are the holding company’s. (provided that not less than 95% of the HC’s
consolidated TA’s and TL’s are assets and liabilities of the bank and the bank’s
consolidated subsidiaries
Signature and Attestation
- Bank officer should sign the annual statement. Officer should also attest to the
correctness of the information contained in the statement if the financial reports are
not accompanied by a certificate or report of an independent accountant
Notice and Availability
- Shareholders - first copy to shareholder should be provided at no charge
- Customers and the general public – In the lobby of its main office and each branch,
the bank shall at all times display a notice that the annual disclosure statement may be
obtained from the bank. Notice shall include an address and telephone number of
which requests should be directed. First copy should be provided free of charge
Examination Reports
- Bank may not disclose any report of examination or report of supervisory activity or
any portion thereof prepared by the FDIC
Prohibited Conduct
- Disclose:
- Misleading information, misrepresentation (unsafe or unsound practice)
- Represent that the FDIC has confirmed the accuracy of the statement (unsafe or
unsound practice)