Sources of regulatory reporting burden for banks that file call reports are being sought by the federal banking agencies, they said in joint communications Monday, in an effort aimed at streamlining the quarterly reports.
“This request for information (RFI) offers the opportunity for interested stakeholders to identify ways that the agencies could streamline the Call Report forms and instructions while still meeting the purposes of the collection,” the agencies said.
More specifically, they said, want to identify “which schedules and individual line items require the most resources to complete each quarter and welcome respondent views on whether any data items go beyond monitoring the core financial risks of the filing institution.”
The agencies also want comments on what changes, if any, should be considered to the frequency of reporting schedules and data items could improve the efficiency of the collection and for which categories of respondents.
“The agencies are interested in learning what data institutions collect and maintain in their loan systems and other automated systems, including outsourced systems, for internal reporting and Call Report purposes,” the notice states. “A better understanding of what data institutions currently maintain or calculate solely for Call Report purposes, and items that require manual calculation, may inform the agencies’ ability to better align institutions’ internal and external reporting, as appropriate.
“Relatedly, the agencies also are seeking information on changes in respondents’ use of reporting technologies and whether current and emerging technologies could be used to simplify the reporting of Call Report data,” the notice states.
Comments are due by Jan. 30.
Streamlining the Consolidated Reports of Condition and Income (Call Report)
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