A notice released by three federal banking agencies last month on streamlining changes to bank call reports, set to take effect this June, is slated for publication Wednesday in the Federal Register. Those interested have 30 days from the Register publication date to submit comments.
The Federal Reserve Board (Fed), the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC) – have finalized bank call report changes as part of their effort to reduce data reporting and other burdens, the regulators announced in March as members of the Federal Financial Institutions Examination Council (FFIEC). As required, they are sending the changes to the Office of Management and Budget (OMB) for review and approval.
As reported here previously, the regulators said that with these changes and prior call report revisions, approximately 51 percent of required data items for smaller, less complex institutions and 28 percent of required data items for all other institutions have been changed. A webinar was held for bankers April 5 on the changes.