This video provides a short overview on when and how to complete the FR 2910a Annual Report of Deposits and Reservable Liabilities, including how to use the worksheet provided within the report instructions (video, 5:47).
The Federal Reserve collects deposit data to administer Regulation D and to construct the monetary and reserve aggregates. In consideration of reporting burden for smaller depository institutions, this information is collected annually on the FR 2910a report.
Information from this report is used to determine whether the filing institution will remain exempt from reserve requirements and is consequently eligible for annual deposit reporting for another year.
This video highlights how to complete the report and is intended as a guide. Final authority on Regulation D and FR 2910a reporting rests with the Board of Governors of the Federal Reserve System.
When and how to report
Items on the FR 2910a are to be reported as-of the close of business on June 30th. If your institution was closed that day, the closing balances of the preceding business day should be reported.
The report contains three items that are to be entered in thousands of dollars.
Although it is not required, we highly recommend using the worksheet provided within the report instructions for calculating these items.
One version of the worksheet is specifically designed for credit unions and a second is intended for all other depository institutions.
The three main sections are Transaction Accounts, Savings Deposits, and Time Deposits.
Note that the pie charts shown in this video and values attributed are for illustration purposes only.
Begin the worksheet by completing lines 1, 2, and 3 and then sum these entries to calculate Total Transaction Accounts.
Overdrawn deposit accounts are regarded as loans to your customers and should be excluded. Do not net overdrawn accounts against positive balances when computing deposit totals.
Next, enter Demand Balances Due from Depository Institutions in the U.S. It is important to note that balances held at Federal Reserve Banks should be excluded from this item. Also exclude savings and time deposits held at other depository institutions.
Then, enter Cash Items in the Process of Collection. In line 7, calculate Net Transaction Accounts, as instructed. If the result is negative, use a minus sign or parentheses to indicate the negative value.
It is critical that Net Transaction Accounts are calculated correctly: this is the figure that will determine whether your institution will remain exempt from, or be subject to reserve requirements.
In the next section of the worksheet, enter Total Savings Deposits. Then, identify nonpersonal savings deposits, these are funds credited to corporations, partnerships or other associations. Enter the amount of nonpersonal savings deposits on line 9.
In the third section of the worksheet, enter Total Time Deposits. Next, enter time deposits with balances of $100,000 or more, and then calculate Small Time Deposits in line 12.
As you did with savings accounts, identify time deposits held by nonpersonal customers, regardless of the balance. Enter the amount of nonpersonal time deposits in line 13.
In the final section of the worksheet, on line 14, calculate Total Transaction, Total Savings, and Small Time deposits as instructed. In line 15, calculate Reservable Liabilities.
You are now ready to transfer calculations from the worksheet to the report form.
Transfer worksheet line 14 to report form line 1, worksheet line 15 to line 2, and worksheet line 7 to line 2a. As a quality check, confirm that line 2 is greater than 2a.
Remember to address the check box found below the report items. Detailed information on this check box can be found in the report instructions.
In the lower section of the report, enter the name and address of your institution. Then enter the information, including email address, of the primary person to contact regarding the report. Please confirm that all fields have been completed. Submit the signed report as instructed by your Federal Reserve Bank.
For definitions and complete details, refer to the FR 2910a report instructions found on the Federal Reserve’s website: FederalReserve.gov.
Follow the link - Reporting Forms - on the homepage and select the FR 2910a report from the pulldown menu.
For additional information, contact the Federal Reserve Bank in your district. To locate the appropriate contact, visit FRBservices.org and click the Contact link.