Banking Agencies Propose Modified Versions Of Call Reports For Eligible Small Institutions

The FDIC, the Federal Financial Examination Council ("FFIEC") and other banking agencies solicited comments on a proposal to: (i) streamline the Consolidated Reports of Condition and Income ("Call Reports") for eligible small institutions, and (ii) reduce the regulatory burden of the remaining two versions of Call Reports. The proposal would define "eligible small institutions" as institutions with total assets of less than $1 billion and with only domestic offices. The agencies noted that the FFIEC approved this proposal as part of its community bank Call Report burden-reduction initiative.

If approved, the proposal would become effective on March 31, 2017. Comments on the proposal must be submitted by October 14, 2016.