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Chart Watch - New reporting field - computer software assets

Starting in the third quarter, U.S. banks and thrifts were required to report "computer software assets" in quarterly call reports if certain thresholds are met. According to the FDIC's definition, these assets include "purchased computer software, net of accumulated amortization, and unamortized costs of computer software to be sold, leased or otherwise marketed capitalized."

Banks and thrifts are required to report computer software assets if the amount of these assets is greater than $100,000 and is more than 25% of Item No. 6 "All other assets" on Schedule RC-F. According to the FDIC, some of the major components of "all other assets" include: prepaid expenses, repossessed personal property, derivatives with a positive fair value held for purposes other than trading, FDIC loss-sharing indemnification assets, computer software, accounts receivable and receivables from foreclosed government-guaranteed mortgage loans.

None of the "Big Four" banks reported this new field in the third quarter, but collectively, banks and thrifts with $100 billion to $1 trillion in assets reported $2.37 billion in computer software assets, accounting for almost two-thirds of the computer software assets reported. The largest bank to report this new field was Northern Trust Co., which reported $1.14 billion in computer software assets. The 14 banks reporting over $10 million in computer software assets make up almost 96% of the total reported computer software assets for all banks and thrifts in the third quarter.

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