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Reporting forms
Legitimate Differences
The following documents describe "legitimate differences" between the Annual Report of Total Deposits and Reservable Liabilities (FR 2910a) and the financial statements that depository institutions submit to their regulator at each quarter-end: Statement of Financial Condition (NCUA 5300), Consolidated Reports of Condition and Income (FFIEC 041), and Thrift Financial Report (OTS 1313).
The legitimate difference documents are designed to assist depository institutions when completing their FR 2910a report by comparing certain FR 2910a items with similarly defined items on the quarterly financial statements. In addition, the legitimate difference documents will help depository institutions better understand questions that may be asked by Federal Reserve System analysts when comparing the data from the two reports, a process known as "interseries editing." Interseries editing enhances data quality by reconciling reporting discrepancies. Such discrepancies may be the result of a reporting error, or they may instead reflect legitimate differences between the items being compared.
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