FFIEC Streamlines “Call Report” for Small Institutions
December 30, 2016 / Source: FFIEC
Board of Governors of the Federal Reserve System
Office of the Comptroller of the Currency
Federal Deposit Insurance Corporation
For immediate release December 30, 2016
Continuing their efforts to reduce data reporting and other burdens for small financial institutions, the federal banking agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), are publishing a Federal Register Notice (FRN) finalizing the reporting requirements for a new and streamlined “Call Report” for small financial institutions.
Overall, the streamlined Call Report would reduce the existing Call Report from 85 to 61 pages, resulting from the removal of approximately 40 percent of the nearly 2,400 data items. In response to comments received on their initial FRN published in August 2016, the agencies have reduced the frequency of certain reporting requirements from the original proposal.
The proposed changes would apply 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.
The federal banking agencies along with the Consumer Financial Protection Bureau and the State Liaison Committee, as members of the FFIEC, are continuing their burden-reduction efforts and expect to propose additional simplification of Call Report requirements for small financial institutions.
Eligible small institutions may begin filing the streamlined Call Report as early as March 31, 2017.
CFPB Sam Gilford (202) 435-7673
FDIC LaJuan Williams-Young (202) 898-3876
Federal Reserve Eric Kollig (202) 452-2955
OCC Stephanie Collins (202) 649-6870
SLC Rockhelle Johnson (202) 728-5733