In our continuing efforts to reduce regulatory reporting burden, I am pleased to announce that state chartered banks and savings banks will no longer be called upon to file quarterly Reports of Condition and Income (call reports) with this department. It has been determined that the quarterly filings of this information with your appropriate federal regulatory authority will satisfy the requirements of Tennessee Code Annotated, Sections 45-2-1604(a) and (b) (1). Access to such data is available to the department through its direct linkage with the FDIC's data base.
Additionally, for those banks and savings banks which exercise trust powers, it will no longer be necessary to file with this department a copy of the Annual Report of Trust assets, FFIEC Form 001, as such information is also attainable from the FDIC's data base.
Notwithstanding the above, state chartered banks and savings banks will still be required to publish at least twice a year in a newspaper of general circulation distributed in the city or county where the main office is located, a statement of assets and liabilities as of the close of business, June 30 and December 31, as stipulated in Tennessee Code Annotated, Section 45-2-1604(b)(2). Proof of such publication to this office is no longer required; however, compliance with this provision will be monitored by the staff of the Tennessee Department of Financial Institutions at all future examinations/visitations of your institution.
This Bulletin takes effect immediately. If you have questions regarding this Bulletin, please contact Assistant Commissioner Derek Carrier at 615/741-6013.