This dataset contains selected variables from all commercial bank “call reports” between 1959Q4 and 2024Q4. The original source of the data are the corresponding forms filed with the Federal Financial Institutions Examination Council (FFIEC). The data contain over 2.5 million quarterly financial statements for 24,710 unique banks.
This data was one of the key inputs for our work “Failing Banks”; please cite it if using the data for research purposes:
@article{FailingBanks,
author = {Correia, Sergio and Luck, Stephan and Verner, Emil},
title = {{Failing Banks}},
journal = {The Quarterly Journal of Economics},
pages = {1-50},
year = {2025},
month = {09},
issn = {0033-5533},
doi = {10.1093/qje/qjaf044},
url = {https://doi.org/10.1093/qje/qjaf044},
eprint = {https://academic.oup.com/qje/advance-article-pdf/doi/10.1093/qje/qjaf044/64222453/qjaf044.pdf},
}modern-call-reports.dta contains the main call report
variables, standardized across different revisions of the reports.historical_call_data_dictionary.xlsx is the dictionary
file indicating how each of these variables was constructed1-import-raw-nic.do,
2-import-raw-call.do, 3-create-variables.do)
are also useful for a more in-depth understanding of how each variable
was constructed.FFIEC 010: Domestic Report of Condition (< $100 million in Total Assets). It was filed from June 10, 1959 to December 31, 1983. Prior to December 31, 1960, this was reported by FRS member banks and a handful of nonmember banks. Afterwards, it was reported by all insured commercial banks, savings banks, nondeposit trust companies, and industrial banks with domestic offices only. From December 31, 1978 to December 31, 1983, it was reported by all banks with domestic offices only with less than $100 million in total assets. From 1964 to 1972, data is reported semiannually. Otherwise, data is reported quarterly.
FFIEC 011: Consolidated Report of Income (< $100 million in Total Assets). It was filed from December 31, 1960 to December 31, 1983 by all insured commercial banks, savings banks, nondeposit trust companies, and industrial banks. From December 31, 1978 to December 31, 1983, it was reported by all banks with less than $100 million in total assets. From 1960 to 1975, data is reported annually at the end of Q4. From 1976 to 1982, data is reported semiannually in Q2 and Q4 for savings banks and nondeposit trust companies. Otherwise, data is reported quarterly on a year-to-date basis.
FFIEC 012: Consolidated Report of Condition for a Bank and its Domestic Subsidiaries (Domestic Offices Only). It was filed from December 31, 1978 to December 31, 1983. It was reported by all insured commercial banks, savings banks, nondeposit trust companies, and industrial banks with domestic offices only. Data is reported quarterly.
FFIEC 013: Consolidated Report of Income for a Bank and its Domestic and Foreign Subsidiaries. It was filed from December 31, 1978 to December 31, 1983 by all insured commercial banks, savings banks, nondeposit trust companies, and industrial banks with domestic offices and foreign branches, foreign subsidiaries, Edge Act and agreement subsidiaries, and/or branches in Puerto Rico or U.S. territories and possessions. From 1978 to 1982, data is reported semiannually in Q2 and Q4 for savings banks and nondeposit trust companies. Otherwise, data is reported quarterly on a year-to-date basis.
FFIEC 014: Consolidated Report of Condition for a Bank and its Domestic and Foreign Subsidiaries. It was filed from June 30, 1969 to December 31, 1983. This form was filed by all insured commercial banks with domestic offices and foreign branches, foreign subsidiaries, Edge Act and agreement subsidiaries, and/or branches in Puerto Rico or U.S. territories and possessions. Prior to 1974, the respondent panel consisted of member banks of the Federal Reserve System with domestic and foreign offices. Prior to 1976, foreign holdings were reported semiannually during the June/December reports. Otherwise, data is reported quarterly.
FFIEC 031: Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices. It has been filed since March 31, 1984 to present. It is filed by all national banks, state member banks, insured state nonmember banks, and savings associations with branches or consolidated subsidiaries in a foreign country, Puerto Rico, or a U.S. territory or possession, or have international banking facilities. As of June 30, 2018, it is also filed by banks with domestic offices only, if they have total consolidated assets of $100 billion or more. Additionally, as of March 2020 banks with domestic offices only are required to file this form if they are an advanced approaches institution. Data is reported quarterly.
FFIEC 032: Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets of $300 Million or More. It was filed from March 31, 1984 to December 31, 2000. It was filed by all national banks, state member banks, and insured state nonmember banks with domestic offices only and total assets of $300 million or more. Data is reported quarterly.
FFIEC 033: Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets of $100 Million or More But Less Than $300 Million. It was filed from March 31, 1984 to December 31, 2000. It was filed by all national banks, state member banks, and insured state nonmember banks with domestic offices only and total assets of $100 million or more, but less than $300 million. Data is reported quarterly.
FFIEC 034: Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less Than $100 Million. It was filed from March 31, 1984 to December 31, 2000. It was filed by all national banks, state member banks, and insured state nonmember banks with domestic offices only and total assets less than $100 million. Data is reported quarterly.
FFIEC 041: Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only. It has been filed since March 31, 2001 to present. It replaced the FFIEC 032, FFIEC 033, and FFIEC 034 forms. It is filed by all national banks, state member banks, insured state nonmember banks, and savings associations with domestic offices only. Data is reported quarterly.
FFIEC 051: Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less than $5 Billion. It has been filed since March 31, 2017 to present. From March 31, 2017 to June 30, 2019 it was filed by all national banks, state member banks, insured state nonmember banks, and savings associations with domestic offices only and total assets less than $1 billion. From September 30, 2019 to present, it is filed by all national banks, state member banks, insured state nonmember banks, and savings associations with domestic offices only and total assets less than $5 billion. Note that while some banks may fall under these criteria, they may elect to file the FFIEC 041 or be required to for regulatory capital purposes or as instructed by their primary federal regulator. Data is reported quarterly.
FDIC 8040/18: Consolidated Report of Condition for Savings Banks. It was filed from March 31, 1979 to December 31, 1985. It was reported by mutual savings banks. Data is reported quarterly.
FDIC 8040/51: Consolidated Report of Income for Savings Banks. It was filed from March 31, 1979 to December 31, 1985. It was reported by mutual savings banks. From 1979 to 1982, data is reported semiannually in Q2 and Q4. From 1983 to 1985, data is reported quarterly.
FDIC 8040/25: Consolidated Reports of Income and Condition for Savings Banks. This was filed from March 31, 1986 to December 31, 1988. It replaced the FDIC 8040/18 and FDIC 8040/51. It was reported by mutual savings banks. Data is reported quarterly.
The data contain the original line items reported in the call report. Each line item corresponds to a series name/mnemonic and a 4-digit numeric or alphanumeric code. Some codes are unchanged across forms, such as total assets and total deposits. For variables that are not consistently reported across time such as security holdings and gross loan exposures, we create derived items which account for changes in the reporting form across time.
The data dictionary contains the dataset label, description, mnemonic and field as they appear on the physical form, and the valid period for each variable.
Further, note that:
RSSD is the main identifier for each institution. Other identifiers such as FDIC certificate number, CUSIP, and ABA, are merged in, along with other select bank attributes.
Total assets are reported net of loan loss reserves after 1976 but not before.
The RCFD series/mnemonic is for the domestic and foreign call report. The RCON series/mnemonic contains values for domestic offices only.
The RCFD series officially starts appearing on the FFIEC reporting forms in 1969. However, the RCFD series encompasses the RCON series in the data for the entire period, so we use the RCFD series in the construction of most variables, as reflected in the data dictionary.
To smooth out the series when foreign holdings are reported semiannually, we impute missing values in Q1 and Q3 from 1973 to 1975 for select balance sheet variables. See data dictionary for more details.
Prior to 1969, provision for loan losses were not reported on the income statement. Banks do, however, report “Recoveries, Transfers from Valuation Reserves, and Profits” and “Losses, Charge-offs, and Transfers to Valuation Reserves,” so we report the totals for these line items.
Some of the reporting dates prior to 1976 do not cleanly fall on the end-of-quarter date, so some dates are adjusted to the closest quarter to construct the quarterly panel. For example, one reporting date is listed as April 12, 1961, which we adjust to correspond to 1961Q1. The original reporting date variable is retained in the data set.
Prior to December 31,1960, only member banks were required to file the FFIEC 010. From 1960 to March 1969, the panel includes insured commercial banks. From June 30, 1969, all banks report. Over the years, there has been a downward trend in reporters as more consolidation has occurred. As of the most recent quarter, 2024Q3, there are 4,572 reporters.