|For immediate release||June 20, 2017|
FFIEC Proposes Additional Revisions to Streamline "Call Report" for Small Institutions
Continuing their efforts to reduce data reporting and other burdens for small financial institutions, the three federal banking agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), are proposing additional revisions to streamline several "Call Report" schedules.
The latest proposal from the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency will remove, raise the reporting threshold for, or reduce the reporting frequency of approximately seven percent of the data items on the Call Report for small institutions, and make other burden-reducing changes for larger institutions, while continuing to provide the agencies with the information needed to supervise the industry. The proposal also includes revisions in response to changes in the accounting for equity securities and an instructional revision for determining past due status.
Earlier this year, the agencies created a new streamlined Call Report for small institutions that removed approximately 40 percent of the data items in the prior Call Report.
Following the issuance of this current proposal, the agencies expect to propose additional simplification changes later this year.
The Call Report for small institutions is applicable to financial institutions with domestic offices only and less than $1 billion in total assets, which represents approximately 90 percent of all institutions required to file Call Reports. All institutions, regardless of size, submit a quarterly Call Report that includes data used by regulators to monitor the condition, performance, and risk profile of individual institutions and the industry as a whole.
Comments on the proposed revisions will be accepted for 60 days after the date of their publication in the Federal Register. The proposed effective date for the Call Report revisions is March 31, 2018.