WASHINGTON — U.S. banks submitting quarterly reports on their financial conditions next month must make several changes due to new regulations, the Federal Deposit Insurance Corp. said Thursday.
The FDIC said banks must report the amount and number of noninterest-bearing transaction accounts valued at more than $250,000. They are also required to report data on reverse mortgages, the agency said.
The quarterly reports, known in the industry as Call Reports, for the fourth quarter are due Jan. 30.
The FDIC reported in November that U.S. banking industry profits jumped again in the third quarter, as banks saw stronger revenue and set aside fewer reserves.
Net income for the roughly 7,700 U.S. banks and thrifts totaled $14.5 billion for the quarter, up from just $2 billion a year earlier. However, the number of banks on the FDIC's list of problem institutions rose to 860 at the end of September, inching up from 829 at the end of June.