On September 8, three member agencies of the Federal Financial Institutions Examination Council (FFIEC), the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, proposed to eliminate or revise various call report entries to make the reporting process easier for reporting institutions. The proposed changes would delete certain items, raise reporting thresholds and revise certain instructions. The agencies also stated that they have advanced the next scheduled review of call report items from 2017—the statutorily mandated review date—to an earlier date. Surveys of insured institutions will be used to inform the regulatory agencies.
The agencies also are contemplating creating a less-burdensome version of the quarterly call report for certain institutions, planning to conduct a dialogue with certain institutions that have expressed their willingness to host a visit from agency personnel during the third quarter of 2015 and are preparing training sessions for bankers via teleconferences and webinars to explain upcoming reporting changes. Comments on the proposal are due within 60 days of publication in the Federal Register.
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