By Jeff Bater
Federal banking agencies want to make it easier for small lenders to meet regulatory requirements for filing data on their condition and performance.
The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency asked for comment on additional revisions to streamline several call report schedules, the Federal Financial Institutions Examination Council (FFIEC) said in a news release. The three agencies are members of the council.
The latest proposal will remove, raise the reporting threshold for, or reduce the reporting frequency of around seven percent of the data items on the report for small institutions. It would apply to banks with less than $1 billion in assets.
Earlier this year, the agencies created a new, streamlined report for small lenders that removed about 40 percent of the data items that were in the prior version.
In addition to simplifications for institutions with assets below $1 billion, the FFIEC’s proposal calls for other burden-reducing changes for larger institutions.
Aside from the latest plan, the agencies expect to propose additional simplification changes later this year for banks.
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 latest call report revisions proposed by the agencies will be accepted for 60 days. The proposed effective date for the changes is March 31, 2018.
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