Banking Regulators Solicit Comments On Revisions To Call Reports

As part of an ongoing effort by the Federal Financial Institutions Examination Council ("FFIEC") to ease reporting requirements for small banks, the FDIC, the Board of Governors of the Federal Reserve System ("FRB") and the Office of the Comptroller of the Currency ("OCC") proposed revisions to the Consolidated Reports of Condition and Income ("call reports"). The revisions would become effective on March 31, 2018.

The proposed revisions would ease reporting frequency requirements, remove certain unnecessary data elements, and alter some reporting thresholds with the stated goal of an "overall reduction in burden," particularly for small institutions. The revisions were developed in response to survey results from banks detailing their use of data elements in existing call reports.