Reduced Reporting for Covered Depository Institutions

Title: Reduced Reporting for Covered Depository Institutions
Subject: Call reports
Agency: FDIC, Federal Reserve, OCC
Status: Final rule
Summary:
The OCC, the Board, and the FDIC (collectively, the agencies) are issuing a final rule to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act by expanding the eligibility to file the agencies’ most streamlined report of condition, the FFIEC 051 Call Report, to include certain insured depository institutions with less than $5 billion in total consolidated assets that meet other criteria, and establishing reduced reporting on the FFIEC 051 Call Report for the first and third reports of condition for a year. The OCC and Board also are finalizing similar reduced reporting for certain uninsured institutions that they supervise with less than $5 billion in total consolidated assets that otherwise meet the same criteria. This document also includes a Paperwork Reduction Act notice to further reduce the amount of data required to be reported on the FFIEC 051 Call Report for the first and third calendar quarters, and other related changes. The agencies are committed to exploring further burden reduction and are actively evaluating further revisions to the FFIEC 051 Call Report, consistent with guiding principles developed by the FFIEC. The agencies also are considering ways to simplify the Call Report forms and instructions.
FR Doc: 2019-12985
Date proposed: Nov. 19, 2018
Comments due date: Jan. 18, 2019
Final rule effective date: July 22, 2019
Rule compliance date:
Agency release:
Related Reg Report item(s):

Reduced reporting (call reports) proposal in Federal Register Monday

Be the first to comment

Leave a Reply

Your email address will not be published.