Consigned Items and Other Customer Services

Accounting

In accordance with the instructions for the Consolidated Reports of Condition and Income (call reports), a bank should report fee income from customer safekeeping and safe deposit, consigned items, and collection services as “other noninterest income,” in the subcategory “other fee income.” The instructions require commemorative coins purchased for resale by a national bank be recorded as “other assets.” The bank’s books should reflect the lower of cost or market value with adjustments made at least quarterly. This is consistent with the accounting treatment of bullion and bullion-type coins.

Consigned Items and Other Customer Services

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